• The Journal of Economics, Marketing and Management
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• v.11 no.2
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• pp.23-32
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• 2023

Purpose: This study examines the effect of full information disclosure on seller profit when there exists information asymmetry between sellers and buyers, focusing on the risk averseness of buyers. By investigating the interaction between product quality and perceived risk through online sales data, we attempt to figure out the incentive structure of full information disclosure specifically when buyers are risk-averse, so that we can suggest more feasible information disclosure strategy to sellers. Research design, data and methodology: Our empirical model analyzes the sales data of collectible goods from a major online seller using Poisson regression. In our model, we have specifically considered risk-averseness of buyers by estimating the interaction effect between the product quality and perceived risk on seller profit, aiming for a more precise empirical analysis on sellers' incentive structure of full disclosure. Results: Our empirical analysis strongly supports the effect of interaction between product quality and perceived risk, showing that the incentive for full disclosure is much stronger when product quality is higher, and vice versa. Therefore, sellers are strongly encouraged to voluntarily reveal product weaknesses when their product quality is higher than average, while it is more profitable to hide any product defects when quality claim is lower than average. Conclusions: This study supports the related literature by confirming economic incentives for full disclosure, and also supplements and strengthens previous studies by presenting that the effect of interaction between product quality and perceived risk strongly affects seller profit. Our unique finding supports both mandatory disclosure and voluntary disclosure arguments and presents practical implications to marketing managers by suggesting that seller's incentive for revealing weaknesses depends on the level of seller's product quality.

• Journal of Families and Better Life
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• v.10 no.1 s.19
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• pp.157-170
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• 1992

The main purpose of this article was to examine the general tendency of self-disclosure and perceived self-disclosure in married couples, and to study the effect of demographic variables on them. and to find out how dyadic trust affects on self-disclosure in married couples. Considering those purposes, the following research questions have been raised : 1) What is the general tendency of self-disclosure in married couples? 2) What is the general tendency of perceived self-disclosure in married couples? 3) Does perceived self-disclosure affect on self-disclosure in married couples? 4) How do the demographic varibles affect on self-disclosure in married couples? 5) Does dyadic trust affect on self-disclosure in married couples? To solve these questions, a questionnaires which consisted of 8 items for demographic variables, of which 8 questions are for dyadic trust, and 36 questions for self-disclosure in married couples was made. This reserch 몽 been conducted from April 4, 1990 to April 15, 1990. which surveyed 560 married men and women who are living in Seoul. Only answers from 432 married men and women were analysed out of them. The analytic methods adopted in this study were the frequency, the perentage, t-test, oneway ANOVA, DUNCAN -tst, and pearson's r. Especially SPSS/${pc}^+$ program was used in order to promate the feasibility in statistical analysis. The major findings of the study are as follows : 1) Self-disclosure in married couples in generally higher than expected(M=40.4) : wife's self-disclosure(M41.5) is higher than husband's self-disclosure(M=39.4) 2) Between self-disclosure and perceived self-disclosure in married couples correlated considerably high(husband r=0.67, wife r=.75) 3) Self-disclosure in married couples are affected by the variables such as age, length of marriage, everage family income a month. 4) Self-disclosure in married couples correlated relatively low with dyadic trust(husband r=0.21, wife r=.31)

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.135-144
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• 2021

This study investigates the impact of gender diversity on the board of directors on corporate intellectual capital (IC) disclosure in Indonesia. For the study purpose, the sample was divided into two sections, i.e., companies with large capitalizations and companies with small capitalizations. A paired T-test was used to observe significant changes in the disclosure level between period and type of firm. Using linear regression analysis, the influence of gender diversity and other variables on IC disclosure was examined. The findings show that IC disclosure varies for large and small companies. The level of IC disclosure in large companies was stronger than in small companies. The results of the multivariate analysis showed that the profitability, leverage, ownership, and type of business of the company significantly affect IC disclosure. For companies with large capitalization, the presence of women directors on corporate boards or gender diversity on corporate boards does not impact IC disclosure. This is because the Indonesia Stock Exchange (IDX) does not insist on IC disclosure. However, for small companies, the existence of gender diversity has a significant effect on IC disclosure. The findings of this study suggest that policymakers and standard makers must consider the inclusion of IC disclosure on the annual report as mandatory.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.903-909
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• 2021

The relationship between corporate social responsibility (CSR) and earnings management is still a debate. Several previous studies showed that CSR is a determinant of earnings management. Meanwhile, others revealed the reverse. Therefore, this study aims to investigate the effect of CSR disclosure on earnings management and the effect of earnings management on CSR disclosure. This study was conducted with mining companies listed on the Indonesia Stock Exchange (IDX) in the 2016-2019 period. The research data was analyzed using multiple linear regression analysis. The data is obtained from financial statements, annual reports, and sustainability reports. The results reveal that there is a positive relationship between CSR disclosure and earnings management. This study also shows that the relationship model of CSR disclosure and earnings management is recursive. This finding implies that CSR disclosure is a tool used by management to cover up unethical actions from stakeholders. These results verify the agency theory and opportunist hypothesis regarding the relationship between CSR and earnings management. The novelty of this study lies in highlighting the recursive model of the relationship between CSR and earnings management.

• The Journal of Industrial Distribution & Business
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• v.12 no.11
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• pp.9-16
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• 2021

Purpose: Carbon emissions have now become a major concern around the world, especially for the government and private sector. Unfortunately, in Indonesia, disclosure related to company carbon emissions is still done voluntarily. This research aims to provide empirical evidence on the effect of environmental performance, carbon emission disclosure, and carbon emission intensity on the cost of equity capital. Research design, data, and methodology: This research uses secondary data with a sample consisting of Indonesia companies that are sensitive to the environment and listed on the Indonesia Stock Exchange in 2017-2019. The analytical tool used in this research was multiple regression models. Result: The study found a carbon emission disclosure had a significant positive effect on the cost of equity capital. Carbon emission intensity and company size had a significant negative effect on the cost of equity capital. Meanwhile, environmental performance did not have a significant effect on the cost of equity capital. Conclusion: Therefore, the results of this research are expected to provide feedback to the company's stakeholders that environmental performance and carbon emissions are some of the points seen by investors in making investment decisions.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.349-362
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• 2021

This study aims to examine the effect of environmental performance, independent board of commissioners, and firm size on environmental disclosure measured by the Indonesian environmental index. The population in this study is manufacturing and coal mining companies that follow "PROPER" and are listed on the Indonesia Stock Exchange (IDX) from 2017 to 2019. This research was conducted by reviewing annual reports to collect information on environmental disclosures. The sampling used in this study was purposive sampling technique and obtained a sample of 117. Also, the data analysis technique used was multiple linear regression analysis with statistical hypothesis testing. The results showed that environmental performance and firm size had a positive effect on financial performance. Meanwhile, the independent board of commissioners does not affect financial performance. Furthermore, environmental performance, firm size, and financial performance have a positive effect on environmental disclosure. While the independent board of commissioners does not affect environmental disclosure. The findings of this research suggest that environmental performance has a significant positive effect on financial performance. The hypothesis is accepted, meaning that companies that are sensitive to environmental problems and run eco-efficiency operations will strengthen the company's profitability.

• Asian Journal of Business Environment
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• v.10 no.1
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• pp.45-50
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• 2020

Purpose: This paper examines the theoretical grounds for the disclosure of the Korea Fair Trade Commission. Three central measures of the disclosure are scrutinized: The interconnected status of affiliate companies, the important matters of private affiliates, and the large internal transactions. Contemplating on three measures, respectively, we review the rationale and derive policy implications. Research design, data, and methodology: Collecting the data of violation rates and remedial measures, we analyze the intensity of the disclosure enforcement. These statistics are critically reviewed by the economic literature of mandatory disclosure. Results: Statistics evince that the Korea Fair Trade Commission has enforced the regulatory disclosure quite successfully. Violation rates of the disclosure has declined from the outset. It demonstrates that the Korea Fair Trade Commission has enforced those measures satisfactorily for about a decade. But we cannot ascertain empirically whether the regulatory disclosures are socially and economically beneficial. To evaluate the effect of the regulatory disclosures precisely, we need a further empirical investigation. Conclusions: Despite the lack of policy evaluation, this study suggests complementary measures for current disclosures. First, disclosure of executive compensation in privately held subsidiaries must be introduced. Second, the controlling shareholder/manager should be responsible for information disclosure on foreign subsidiaries.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.41-51
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• 2020

A series of corporate failures and financial crises have raised attention to organizational governance issues, especially for financial institutions. In the banking system, corporate governance further plays a unique role because of the uniqueness of the banking organizations. Therefore, this study aims to examine the effect of corporate governance disclosure on bank performance by building a corporate governance disclosure index (CGDI) for 10 Islamic banks operating in Iran, Saudi Arabia and Malaysia. The data used in this study are secondary data taken from annual reports and sourced from the official websites of each banks include Iran Exchange, Stock Market Quotes and Financial News, and Bursa Malaysia. This study uses content analysis of the annual bank report within five years (2014-2018). The results show that Islamic banks comply with 72.4% of the attributes discussed in the CGDI. The most frequently reported and disclosed elements are board structure and audit committee. The regression results provide evidence that Islamic banks with a higher level of corporate governance disclosure reported high operating performance measured by ROA. In contrast to the expectation, the financial performance of ROE and Tobins'q are not significantly related to the disclosure of sharia bank governance.

• The Journal of Asian Finance, Economics and Business
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• v.5 no.4
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• pp.67-72
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• 2018

The purpose of this study is to investigate the effect of quality of management discussion and analysis (MD&A) disclosure on stock price crash risk. The MD&A can be seen to reflect the management's intention on public announcement and reveals directly what the management says to communicate with outside investors. A firm's high-quality MD&A implies the management's commitment to communicating with the market, not allowing the managers to have incentives to hoard unfavorable news, which if revealed to the public, may lead to downward stock price corrections, damaging corporate values. The high-quality MD&A is, thus, likely to reduce the stock price crash risk. We use a logistic regression to test whether MD&A influences crash risk using listed companies in the Korean Stock Exchange (KSE) stock market between 2010 and 2013. Findings of the empirical test show that the higher the quality of MD&A, the less likely crash risk appears, implying that the MD&A disclosed adequately can be one of the factors mitigating firm's stock price crash risk. This study has implications as it presents the MD&A disclosure as a factor influencing stock price crash risk and suggests voluntary disclosure as well as mandatory disclosure acts as a variable that explains the risk of stock price crash.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.327-333
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• 2020

Corporate social responsibility is an inevitable trend in the global context. It is the responsibility of the organizations to the community and society to ensure the fairness of the interests of stakeholders. This is an issue that deserves attention, not in the national or regional level, but as a global issue. The purpose of article is to examine the effect of corporate governance on corporate social responsibility disclosure of 155 samples of 31 Vietnamese commercial banks from 2015 to 2019. The data of this study is employing time-series data and used the ordinary least squares to test the model. The results show that there are three factors that positively affect corporate social responsibility disclosure, namely, board size, foreign members of board, and audit committee. Thereby, the article proposes that board of director in Vietnamese commercial banks needs to raise awareness about corporate social responsibility, and the Central bank of Vietnam should monitor the disclosure of information regularly with severe sanctions on commercial banks that do not comply with the regulations of corporate social responsibility disclosure. This contributes to improving the information quality of the banking sector to meet the trend of international economic integration.