Ownership structure and voluntary disclosure: A synthesis of empirical studies

Hichem Khlif, Kamran Ahmed and Mohsen Souissi
Additional contact information
Hichem Khlif: Faculty of Economics and Management of Mahdia, University of Monastir, Kerkennah, Tunisia
Kamran Ahmed: Department of Accounting, La Trobe University, Melbourne, VIC, Australia
Mohsen Souissi: Fayetteville State University, Fayetteville, NC, USA

Australian Journal of Management, 2017, vol. 42, issue 3, 376-403

Abstract: In this article, we meta-analyse 69 empirical studies assessing the association between corporate voluntary disclosure and ownership concentration and types, and how institutional characteristics and research design moderate these relationships. Our overall analyses show that state, foreign and institutional ownerships have a positive effect but managerial ownership and ownership concentration have a negative effect on voluntary disclosure. Since the overall effect may conceal the underlying factors that cause heterogeneity in the effect size distribution, we select two important institutional factors: country-level investor protection and the equity market development, and research design and journal quality, to explain the mixed and conflicting findings. Our results emphasise the need to consider legal and institutional characteristics, and researcher induced-artefacts, in understanding the role of ownership structure and identity in corporate voluntary disclosure.

Keywords: Investor protection; meta-analysis; ownership structure; ownership type; voluntary disclosure (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/0312896216641475 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:42:y:2017:i:3:p:376-403

DOI: 10.1177/0312896216641475

Access Statistics for this article

More articles in Australian Journal of Management from Australian School of Business
Bibliographic data for series maintained by SAGE Publications ().