International Journal of Internet, Broadcasting and Communication

The Institute of Internet, Broadcasting and Communication (한국인터넷방송통신학회)
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Corporate Form and Voluntary Disclosure Quality

  • Kim, Ki Beom (Department of Business Administration, Mokpo National University) ;
  • Park, Sung Hyun (Institution for Marine and Island Cultures, Mokpo National University)
  • Received : 2021.01.22
  • Accepted : 2021.02.03
  • Published : 2021.05.31
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Abstract

Considering the role of a financial analyst that directly affects investors as an information mediator, management's decision to disclose to maximize corporate value will have an important impact on investors as well. On the other hand, whether or not managers vary the level of disclosure depending on the corporate form will have great implications for policy authorities. However, there is no domestic research on the relationship between the corporate form and the quality of voluntary disclosure. Our study shows that the corporate form tends to deepen the negative relationship between the proprietary information cost and the quality of disclosure. Examining whether the relationship between proprietary information cost and management disclosure decision making is valid for domestic companies is expected to provide meaningful implications for investors and regulators. Depending on the corporate form, if an entity makes a discriminatory disclosure, the cost of capital will be affected. A more in-depth follow-up study on this should be done.

Keywords

Acknowledgement

This research was supported by the research funds of Mokpo National University

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