CORPORATE GOVERNANCE DISCLOSURES: A STUDY OF TWO FACTORS AFFECTING VOLUNTARY CORPORATE GOVERNANCE DISCLOSURES

摘要

In this study, we examine the links between percentage of concentration of ownership and boardrncomposition and the quantity and quality of voluntary disclosures of certain corporate governance issues.rnThe study was similar in nature to a previous study by Eng and Mak (2002) but differed in definition ofrnthe voluntary disclosures and focused on only two key variables. Our results failed to establish arnsignificant link between the quantity and quality of disclosure on key governance processes and eitherrnpercentage of independent directors or percentage of concentration of ownership of top twentyrnshareholders. One explanation for this is the limitation of the voluntary disclosures to those associatedrnwith the board processes rather than including strategic or financial disclosures. However, the study hasrnimportant implications in that it focuses on an emerging area of research. Further examinations using thernapproach taken in this study may yield stronger relationships as companies more readily adopt corporaterngovernance principles in the future.