Impact of managerial power on regulatory inquiries from stock exchanges: Evidence from the text tone of Chinese listed companies' annual reports

2021 ◽  
pp. 101646
Author(s):  
Qingzi Cao ◽  
Fan Yang ◽  
Minglang Liu
Keyword(s):  
Listed Companies ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Chinese Listed Companies ◽  
Managerial Power

scholarly journals Corporate governance and firm performance: evidence from the Chinese stock markets

2008 ◽  
Vol 5 (4) ◽  
pp. 471-480 ◽  
Author(s):  
Jing Chi ◽  
Guang Zeng
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Ownership Structure ◽  
Market Performance ◽  
Listed Companies ◽  
Legal Person ◽  
Special Treatment ◽  
Stock Exchanges ◽  
Cross Sectional ◽  
Chinese Listed Companies

In this paper, we investigate how ownership structure affects the market performance of the Chinese publicly listed companies. The sample consists of all firms listed in the Shanghai and Shenzhen Stock Exchanges from 1998 to 2001. We find that a firm’s market performance is positively related to the proportion of legal person shares but negatively related to the proportion of shares owned by the state. Using cross-sectional regressions, we further find that corporate value decreases with a firm’s increasing leverage and size, while surprisingly foreign ownership does not increase a firm’s market performance. Moreover, ST (Special Treatment) firms are used to test the effectiveness of corporate governance in China, and our results show that the change of ownership structure cannot improve the firm performance of Chinese listed companies

scholarly journals Post-regulation effect on factors driving environmental disclosures among Chinese listed firms

2019 ◽  
Vol 32 (3) ◽  
pp. 477-495
Author(s):  
Kemi Yekini ◽  
Ismail Adelopo ◽  
Yan Wang ◽  
Surong Song
Keyword(s):  
Information Disclosure ◽  
Listed Companies ◽  
Environmental Information ◽  
Annual Reports ◽  
Chinese Government ◽  
Economic Power ◽  
Content Type ◽  
Chinese Companies ◽  
Chinese Listed Companies ◽  
Environmental Information Disclosure

Purpose The purpose of this study is to re-examine the factors that affect the level of environmental information disclosures (EID) following the issuance of the “Environmental Information Disclosure Guidelines for Chinese Listed Companies”. Design/methodology/approach The study is underpinned by stakeholder and legitimacy theories. Level of EID was measured for 100 Chinese companies using a scoring system and content analysis of their annual reports. The study explored the effect of ownership structure, managerial shareholding, economic power and industry classification on the level of EID using panel regression. Findings The study revealed that with clearly spelt out guidelines, Chinese companies are prepared to disclose environmental information regardless of their economic power. It was found that the overall level of EID in China remains lower than in developed economies. The findings are robust across several econometric models that sufficiently address various endogeneity problems. Originality/value This paper contributes to the existing literature by using new and updated data to re-examine the factors that affect the level of EID among Chinese listed companies. The study is important and timely as it covers the period 2014-2016, which is after the Chinese Government strengthened the enforcement of EID. It highlights the effects of new regulations and underscored areas that still require government attention to foster effective environmental protection.

scholarly journals The Strength of CEOs’Influence on CSR in Chinese listed Companies. New Insights from an Agency Theory Perspective

2020 ◽  
Vol 12 (6) ◽  
pp. 2190 ◽  
Author(s):  
Jacob Cherian ◽  
Muhammad Safdar Sial ◽  
Dang Khoa Tran ◽  
Jinsoo Hwang ◽  
Thai Hong Thuy Khanh ◽  
...  
Keyword(s):  
Stock Exchange ◽  
Negative Relationship ◽  
Financial Statements ◽  
Listed Companies ◽  
Annual Reports ◽  
Ceo Power ◽  
Csr Reporting ◽  
Chinese Listed Companies ◽  
Governance Practices ◽  
Csr Disclosure

This study examined the strength of CEOs’ influence on CSR in Chinese listed companies. The companies chosen belonged to the non-financial sector and were listed in the Shanghai stock exchange from 2010 to 2019. The data was extracted from audited annual reports of companies including the director’s report, chairman’s statements, and notes to financial statements. We applied OLS regression as a baseline methodology to determine the extent and impact of CEO power on CSR disclosures. The results indicated significantly negative relationship between the CEOs’ power and CSR disclosure. Our results showed that separate roles of chairman and CEO can reduce agency problems and increase the CSR disclosures. This study is of importance for regulators, as it enforces the view that regulators and policymakers should continue efforts to improve corporate governance practices and CSR reporting in China, as these changes will not only improve the performance of companies but also befit society at large.

scholarly journals EKSPLORASI ELEMEN INTEGRATED REPORTING DALAM ANNUAL REPORTS PERUSAHAAN DI INDONESIA

2017 ◽  
Vol 21 (3) ◽  
pp. 411
Author(s):  
Anis Chariri ◽  
Indira Januarti
Keyword(s):  
Audit Committee ◽  
Annual Report ◽  
Listed Companies ◽  
Research Data ◽  
Audit Committees ◽  
Annual Reports ◽  
Stock Exchanges ◽  
Integrated Reporting

This study aims to identify the patterns and scope of integrated reporting and to examine the effect of audit committee characteristics (expertise and meeting) on elements of integrated reporting disclosed in the annual report of companies listed on the Indonesia Stock Exchanges (IDX). This study used 170 annual reports of companies  listed on the IDX as research data (not all companies have the required data). Research data were then analyzed using STATA / MP14 Software. The findings showed that the IDX-listed companies have presented annual reports in accordance with the elements of integated reporting although the scope of presentation was relatively low amounting of  51% (33 of 64 indicators). Furthermore, this study revealed that the audit committees’ expertise (in accounting/ finance) and the frequency of audit committee meetings positively and significantly influenced the scope of the integrated reporting presented in the annual report of the companies.

The research on the relationship between corporate innovation, enforcement and board characteristics on the background of artificial intelligence–taking chinese listed companies as an example

2021 ◽  
Vol 40 (4) ◽  
pp. 8587-8599
Author(s):  
Wang Rui ◽  
Gu Qiuyang ◽  
Yang Zhijiao
Keyword(s):  
Artificial Intelligence ◽  
Listed Companies ◽  
Research Literature ◽  
Stock Exchanges ◽  
Moderator Effect ◽  
Board Characteristics ◽  
Corporate Innovation ◽  
Chinese Listed Companies ◽  
Innovation Ability ◽  
The Relationship

In this era of artificial intelligence and information, the transformation and upgrading of enterprises plays a crucial role in their development. This study analyzes the regulatory penalties of listed companies published by the Shenzhen and Shanghai stock exchanges from 1996 to 2017, and explores the relationship between the number of enforcements of these companies and their innovation ability. Existing research literature confirms that board characteristics, including the gender of the CEO and whether the CEO has an overseas background, will have a significant impact on the company’s ability to innovate and the likelihood of corporate penalties. Therefore, this study selects the two moderator variables of the chairman’s gender and whether the chairman has overseas study background. This study uses the To bit model and establishes three hypotheses to verify whether the company’s ability to innovate can significantly affect the number of times they are enforced, whether the chairman’s gender and whether the chairman’s overseas background will have a moderator effect on this relationship. The analysis results confirm these three assumptions.

scholarly journals The effect of press visibility on voluntary disclosure: cross-country evidence

2014 ◽  
Vol 11 (3) ◽  
pp. 72-82
Author(s):  
Maria Prokofieva ◽  
Colin Clark
Keyword(s):  
Voluntary Disclosure ◽  
Listed Companies ◽  
Annual Reports ◽  
Press Coverage ◽  
Governance Mechanisms ◽  
Country Level ◽  
Legal Enforcement ◽  
Chinese Listed Companies ◽  
Setting Theory ◽  
Enforcement Mechanisms

The study investigates the effect of press coverage on voluntary disclosure in the narrative sections of annual reports of Australian and Chinese listed companies. A combination of the legitimacy theory and media agenda setting theory is employed to examine their application in the context of different country-level governance mechanisms, in particularly in Anglo-Saxon (Australia) and Asian (China) economies. The study is based on a sample of 200 listed companies and employs multiple regression analyses. The findings show that press coverage is positively and significantly associated with voluntary disclosure suggesting that closer media attention increases voluntary disclosure. The effect of press coverage is mediated by country-level governance mechanisms, suggesting stronger association in countries with stronger legal enforcement mechanisms

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