Corporate governance and information transparency in Taiwan’s public firms: The moderating effect of family ownership

Yunshi Liu, Alix Valenti and Yi-Jung Chen

Journal of Management & Organization, 2016, vol. 22, issue 5, 662-679

Abstract: This study incorporates insights from both institutional and family socioemotional wealth perspectives with agency theory to examine the relationships among governance practices, family ownership, and information disclosure quality. Employing a sample of 516 publicly listed firms in Taiwan over a period of 5 years (2006–2010), we found that high levels of board independence and board activity have a significant positive effect on disclosure quality. Further, family ownership positively moderated the relationship between board independence and disclosure quality. This relationship is stronger with a higher level of family ownership. The results support the institutional proposition that family-owned firms that pursue socioemotional wealth are more likely to promote information transparency to gain legitimacy and enhance their reputations with outside stakeholders.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jomorg:v:22:y:2016:i:05:p:662-679_00

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