scholarly journals Corporate governance and intellectual capital disclosure. An empirical analysis of the Italian listed companies

2016 ◽  
Vol 13 (2) ◽  
pp. 187-201 ◽  
Author(s):  
Maria Assunta Baldini ◽  
Giovanni Liberatore
Keyword(s):  
Corporate Governance ◽  
Content Analysis ◽  
Empirical Analysis ◽  
Intellectual Capital ◽  
Ownership Structure ◽  
Audit Committee ◽  
Listed Companies ◽  
Annual Reports ◽  
Board Composition ◽  
Competitive Position

Intellectual capital (IC) as well as disclosure of information on IC has in recent years gained importance. IC is the key issue in strengthening a firm’s competitive position and in achieving its objectives. The purpose of this study is to investigate some determinants of the disclosure of IC in annual reports. In particular the aim of this research is to analyse the internal mechanisms of corporate governance (board composition, role duality, ownership structure, auditor type and size of audit committee), which influence the intellectual capital disclosure in corporate annual reports for a sample of all listed Italian firms at 31st December 2010. It has been used a disclosure index as a dependent variable, (ICD), and the method used to measure it is content analysis.

A theoretical and econometric evaluation of corporate governance and capital structure in JSE-listed companies

2019 ◽  
Vol 19 (5) ◽  
pp. 1063-1081 ◽  
Author(s):  
Navitha Singh Sewpersadh
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Audit Committee ◽  
Firm Growth ◽  
Listed Companies ◽  
Annual Reports ◽  
Ceo Duality ◽  
Content Type ◽  
Governance Practices ◽  
Director Ownership

PurposeA vital resource for attracting investments and boosting economic growth is compliance with corporate-governance practices. To achieve firm growth, businesses often rely on leverage as a source of finance, which has tax-saving benefits but could attract financial distress costs. In this context, this study aims to examine the relationship between corporate governance and the use of debt financing in Johannesburg Stock Exchange (JSE)-listed companies.Design/methodology/approachThis study used a six-year period to examine 713 annual reports in an unbalanced panel of 130 JSE-listed companies from 2011 to 2016. The empirical econometric methodology used was the two-step difference generalised method of moments estimation model, which is robust in controlling endogeneity and potential bi-directional causality between leverage and corporate governance.FindingsThis study illustrated that corporate governance practices and firm-specific variables such as profitability, firm size and firm age have a significant influence on the capital structure decisions of JSE-listed firms. This study found support for four out of the six hypotheses. CEO duality and director ownership are positively correlated with leverage, whereas audit committee independence and board size are negatively correlated with leverage. This study also found contraventions of board independence, audit committee independence and CEO duality. The technology sector was the least compliant, with only 40 per cent of their boards being independent. The consumer-services sector had the maximum presence of CEO duality (7 per cent). The industrial sector had the highest average director ownership (18 per cent). The heath-care sector had 28 per cent of their audit committees in contravention of the independence rule.Practical implicationsA useful analysis of the theoretical frameworks used by academic writers are provided. This study revealed the governance practices contravened by the relevant sectors, as well as the associations between corporate governance and leverage.Originality/valueThe study contributes to the literature on capital structure and corporate governance by an emerging economy such as South Africa (SA) which has not been explored. This study’s results have key implications for policy-makers, practitioners, investors and regulatory authorities. This study informs these constituencies about a set of governance attributes that are catalysts and/or inhibitors of leverage.

CSR and sustainability reporting practices in India: an in-depth content analysis of top-listed companies

2019 ◽  
Vol 15 (8) ◽  
pp. 1033-1053 ◽  
Author(s):  
Priyanka Aggarwal ◽  
Ajay Kumar Singh
Keyword(s):  
Content Analysis ◽  
Firm Size ◽  
Ownership Structure ◽  
Sustainability Reporting ◽  
Listed Companies ◽  
Annual Reports ◽  
Global Reporting Initiative ◽  
Content Type ◽  
Reporting Practices ◽  
Industry Type

Purpose The purpose of this paper is to comprehensively analyze the corporate social responsibility (CSR) and sustainability reporting (SR) practices of Indian companies in terms of disclosure quantity and quality, and to investigate the differences in SR practices by SR dimension, industry, ownership structure, firm size and profitability. Design/methodology/approach Data are collected from annual reports/business responsibility reports (BRR)/CSR/sustainability reports of 60 top-listed companies in India. A comprehensive sustainability reporting index is developed. Content analysis technique is used. Inter-coder reliability is established. Findings Altogether, 18 items of the index are not disclosed by the majority of companies in India. SR quality is found significantly lower than the SR quantity. Moreover, SR practices significantly differ by dimension/category, industry-type and firm-size but are not influenced by ownership structure. However, the study fails to establish any conclusive relationship between SR and profitability. Practical implications The present study has several implications for corporates, practitioners, policymakers and stakeholders. The findings underscore the need for amendments in the Global Reporting Initiative guidelines and BRR framework of the Securities and Exchange Board of India to avoid patchy disclosures and ensure complete reporting by companies. Originality/value This study is among the foremost studies in India evaluating SR practices of top-listed companies in the wake of the mandatory BRR requirement from a quantitative as well as qualitative perspective using a multidimensional index.

Ownership Structure and Voluntary Disclosure of Intellectual Capital

2013 ◽  
pp. 390-404 ◽  
Author(s):  
Kin Gan ◽  
Zakiah Saleh ◽  
Massoud Abessi
Keyword(s):  
Content Analysis ◽  
Longitudinal Study ◽  
Intellectual Capital ◽  
Ownership Structure ◽  
Voluntary Disclosure ◽  
Annual Reports ◽  
Reporting Framework ◽  
Speed Up ◽  
Regulatory Bodies ◽  
The Relationship

The objective of this study is to investigate the relationship between ownership structure and voluntary disclosure of intellectual capital (IC). Ownership structure examined is family-owned (FAMC), government-linked companies (GLC) and diffused ownership (OWNDIFF). Using content analysis, a longitudinal study was carried out from years 2006 to 2008 on 162 top companies listed in Bursa Malaysia. Results show that GLCs and OWNDIFFs voluntarily disclose information on IC. In contrast, FAMCs strictly adheres to their secrecy of not disclosing more details than those stipulated by law. This study differs from prior IC disclosure studies in that it discusses voluntary disclosure from agency as well as institutional theory in explaining the relationship between ownership structure and voluntary disclosure of IC. This study may be of interest to various stakeholders such as governmental and regulatory bodies, owners and institutional investors, analysts, as well as policymakers in meeting the growing demand for intangible information to be incorporated in annual reports. It will also facilitate further calls for them to speed up their efforts in producing guidelines for a more consistent IC reporting framework.

Effect of corporate governance attributes on IFRS compliance: evidence from a developing country

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Martin Kabwe ◽  
Erastus Mwanaumo ◽  
Henry Chalu
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Listed Companies ◽  
Annual Reports ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Content Type ◽  
The Relationship

Purpose This study aims to analyze the relationship between corporate governance attributes and the International Financial Reporting Standard (IFRS) compliance among Zambian listed companies. Design/methodology/approach Data was collected through content analysis of annual reports and audited financial statements of 20 Zambian listed companies for the period 2012 to 2018. This is a longitudinal study which involved panel data analysis. A Hausman test was conducted to select the model to use to run the panel regression analysis. Findings The results indicate a positive statistically insignificant relationship between board size, board independence and IFRS compliance. A statistically significant negative relationship between audit committee independence and IFRS compliance. However, there is a positive relationship between board members with accounting and auditing experience, the inclusion of women on the board and IFRS compliance. Research limitations/implications Limitation includes the narrow focus on listed companies only which cannot be generalized to other public interest and private companies in Zambia. Practical implications The study findings imply that corporate governance attributes such as the inclusion of qualified and experienced Chartered Accountants and women on the board will increase IFRS compliance. The appointment criteria of non-executive directors should be strengthened. Originality/value This is the first empirical study to analyze the relationship between IFRS compliance and corporate governance in Zambia. The study also responds to the call by the World Bank (2017) to empirically study IFRS compliance in Zambia and contributes to the scant literature in developing countries on determinants of IFRS compliance.

scholarly journals The influence of corporate governance on the intellectual capital disclosure: a study on Indonesian private banks

2018 ◽  
Vol 13 (4) ◽  
pp. 61-72 ◽  
Author(s):  
Joy Elly Tulung ◽  
Ivonne Stanley Saerang ◽  
Stevanus Pandia
Keyword(s):  
Corporate Governance ◽  
Significant Influence ◽  
Intellectual Capital ◽  
Voluntary Disclosure ◽  
Audit Committee ◽  
Linear Regression Analysis ◽  
Annual Reports ◽  
Private Banks ◽  
Oversight Committee ◽  
Risk Oversight

The release of bank’s intellectual capital is one of the important elements of bank’s annual reports. Although it is not presented adequately in the annual reports, voluntary disclosure of bank’s intellectual capital relatively represents the response to the needs of greater information for the users. This research aims to see the influence of corporate governance on the intellectual capital disclosure based on a case study on private banks in Indonesia. The variables to be examined in the research include the Composition of Independent Commissioners as well as The Competence of Audit Committee and Risk Oversight Committee. The samples were taken using purposive sampling, considering particular criteria. As many as 62 banks are selected to be taken as research samples. The data were analyzed using multiple linear regression analysis method. The result of a partial test shows that the Composition of Independent Commissioners has a positive and significant influence on the intellectual capital disclosure; the Competence of Audit Committee has a positive and significant influence on the intellectual capital disclosure; and the Competence of Risk Oversight committee does not influence the intellectual capital disclosure. Meanwhile, the result of a simultaneous test shows that the Composition of Independent Commissioners, the Competence of Audit Committee, and the Competence of Risk Oversight Committee significantly influence the intellectual capital disclosure.

scholarly journals Sustainability Disclosure among Malaysian Shari‟ah-Compliant listed Companies: Web Reporting

2009 ◽  
Vol 3 (2) ◽  
pp. 160 ◽  
Author(s):  
Rapiah Mohammed ◽  
Kasumalinda Alwi ◽  
Che Zuriana Muhammad Jamil
Keyword(s):  
Corporate Governance ◽  
Content Analysis ◽  
Web Site ◽  
Listed Companies ◽  
Annual Reports ◽  
Environmental Index ◽  
Sustainability Disclosure ◽  
Governance Index ◽  
Social Environmental ◽  
The Web

This paper advances previous research of sustainability disclosure by focusing on information disclosed in the companies‟ web site rather than through annual reports.  Despite looking at the listed companies in general, this study attempts to consider the practice of disclosing sustainability information in the Malaysian Shari‟ah-Compliant listed companies, which represented 87% of the total listed securities or 64.3% of the market capitalization on Bursa Malaysia web site. This study used Islamicity Disclosure Index consists of Shari‟ah Compliance Indicator,<br />Corporate Governance Index and Social/Environmental Index, and the data is analysed using a content analysis. The results of the study suggest that the sustainability disclosure by Malaysian Shari‟ah-compliant listed companies fall significantly on corporate governance index themes, followed by social/environmental index themes. However, Malaysian  Shari‟ah-compliant listed companies did not clearly disclose the items under Shari‟ah compliance index. Contrary to our expectation, most of the companies disclose the items measured in the annual reports linked to<br />the companies‟ web site and are thus not fully in the web site.<br /><br />

scholarly journals Determinan Faktor Pengungkapan Modal Intelektual dan Tingkat Pengungkapan Per Industrinya pada Seluruh Perusahaan yang Terdaftar di Bursa Efek Indonesia

2018 ◽  
Vol 16 (1) ◽  
Author(s):  
Sri Budhi Rezki
Keyword(s):  
Corporate Governance ◽  
Linear Regression ◽  
Intellectual Capital ◽  
Audit Committee ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Annual Reports ◽  
Company Size ◽  
Corporate Governance Mechanisms ◽  
Independent Variable

This study aims to examine the influence of corporate governance mechanisms and company characteristics towards the extent of intellectual capital disclosure. The independent variable in this research is proportion of  independence board, size of audit committee, profitability, age of company,  size of company, and type of industries. The dependent variable in this research is intellectual capital disclosure level. The sample used in this research was annual reports all of company listed at Indonesia Stock Exchange. The sampling technique used in this study is purposive sampling. With this method, the samples were 146 firms. The analysis of this study uses multiple linear regression. The results of this study indicated that size of audit committee, profitability, size of company, and type of industries had positive and significant influence on extent of intellectual capital disclosure. Eventhough, proportion of independence board and age of company had no significant.

scholarly journals The impact of corporate governance elements on environmental reporting : the case of public listed companies in Malaysia

2014 ◽  
Vol 11 (1) ◽  
pp. 75
Author(s):  
Mohd Rashdan Sallehuddin
Keyword(s):  
Corporate Governance ◽  
Audit Committee ◽  
Listed Companies ◽  
Annual Reports ◽  
Executive Directors ◽  
Government Ownership ◽  
Environmental Reporting ◽  
Female Director ◽  
The Impact ◽  
The Relationship

The paper aims to examine the impact of the relationship between the elements of corporate governance and environmental reporting of public listed companies in Malaysia. This study adopts a cross sectional analysis by examining the 2010 annual reports of 254 public listed companies and using content analysis as the method to measure the extent of environmental reporting and compared with various corporate governance measures. Regression analysis was used to examine the relationship between Corporate Environmental Reporting (CER) and independent variables of Corporate Governance (CG) namely independent non-executive directors, audit committee composition, female director, duality, managerial and government ownership. Analysis found a significant relationship between the extents of environmental reporting with government ownership. In contrast, the extent of CER is insignificant with relation of independent non-executive directors, audit committee composition, female director, duality and managerial ownership. The results could be useful to provide evidence to regulatory bodies to look further and to identify the elements of corporate governance that will enhance the CER.

Corporate governance and intellectual capital disclosures in CEOs’ statements

2017 ◽  
Vol 8 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Xiaochang Yan
Keyword(s):  
Corporate Governance ◽  
Intellectual Capital ◽  
Chief Executive Officers ◽  
Negative Relationship ◽  
Chief Executive ◽  
Annual Reports ◽  
Board Composition ◽  
Content Type ◽  
Leverage Ratio ◽  
Executive Officers

Purpose The purpose of this paper is to study the influences of corporate governance on intellectual capital disclosures in chief executive officers’ (CEOs’) statements in annual reports. Design/methodology/approach Index score, word count and overall tone of CEOs’ intellectual capital disclosures are calculated to represent the extent, amount and tone of these disclosures, respectively. With a sample of 78 FTSE 100 companies, this paper uses content analysis and empirical analysis to examine the impacts of board size, board composition and shares concentration on the above three measures of CEOs’ intellectual capital disclosures, controlling for company size, profitability and leverage ratio. Findings Empirical results demonstrate a significant positive relationship between board composition and the extent, amount and tone of CEOs’ intellectual capital disclosures and a significant negative relationship between shares concentration and the amount of these disclosures. Originality/value This paper focuses on the impacts of corporate governance on CEOs’ intellectual capital disclosures. It also groundbreakingly measures the tone of CEOs’ disclosures.

scholarly journals The Impact of Corporate Governance on the Financial Distress: Evidence from Pakistani Listed Companies

2017 ◽  
Vol 5 (2) ◽  
pp. 49-53
Author(s):  
Ahmed Hassan Jamal ◽  
◽  
Syed Zulfiqar Ali Shah ◽  
Keyword(s):  
Corporate Governance ◽  
Financial Distress ◽  
Audit Committee ◽  
Positive Impact ◽  
Stock Exchange ◽  
Listed Companies ◽  
Board Composition ◽  
Explanatory Variables ◽  
Governance Practices ◽  
The Impact

This study intends to assess how corporate governance affects the financial distress in non-financial listed companies in Pakistan. Sample of 53 companies was obtained from non-financial institutes listed in Pakistani stock exchange. Regression analysis is used to estimate the impact of explanatory variables including size of board, composition of board, audit committee independence and duality of CEO on the financial distress. The findings show that size of board, composition of board and CEO duality has a positive impact on Z-score of Pakistani listed firms. This implies that better the corporate governance practices in companies, lower will be the financial distress and vice versa.

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