• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.1185-1194
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• 2020

This study aims to test Voluntary Disclosure, Quality of Financial Reporting and Information Asymmetry as Moderation Variables. The Voluntary Disclosure variable is calculated using the Index Disclosure. This research uses quantitative methods and uses partial least square with EViews data analysis. The research sample consisted of 225 manufacturing companies listed on the Indonesian stock exchange for the period 2016-2018. The results of the study state that voluntary disclosure has a positive and significant effect on the quality of financial reporting through asymmetric information. The relationship between voluntary disclosure and asymmetric information has a negative effect on the quality of financial reporting, states that the disclosure of voluntary reports to companies can prevent information asymmetry, as well as the relationship of voluntary disclosure to information asymmetry states that companies that make voluntary disclosure will increase the interest of investors and other stakeholders. The quality of financial reporting states that if there is information asymmetry, the quality of financial reporting will also decline. The low value of relevance will affect the level of large or small information gaps between management and investors. The quality of financial reporting with increased relevance means that asymmetric information will have a negative impact on financial reporting.

• Journal of Environmental Science International
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• v.30 no.10
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• pp.863-877
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• 2021

While there a growing interest in Voluntary Carbon Disclosure (VCD), comparatively little is discussed whether the improved quality of voluntary carbon disclosure can lead to subsequent changes in a company's carbon reduction performance. Drawing on companies under the Korean Emission Trading Scheme (ETS) with the contents analysis of their sustainable reports, the present research seeks to address the existing knowledge gaps in the current literature on environmental disclosure. Findings empirically show that an increase in the voluntary carbon disclosure score is positively transformed into changes in carbon performance and further develop that the effect of voluntary carbon disclosure on carbon performance varies depending on changes in management capability with the moderation effect.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.601-611
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• 2020

The study aims to investigate the impact of ownership structure on corporate voluntary disclosure in the listed companies of Bangladesh. While many studies on the impact of ownership structure on voluntary disclosure have looked at developed and developing countries, few studies have been carried out in a transition economy. Using a three-step relative voluntary disclosure index, the study applies a multivariate analysis on the cross-sectional data for the year 2018. The findings indicate that the quality of voluntary disclosure in transition economy is still below average but has improved compared to findings from the previous literature. We found a significant inverse relationship between corporate voluntary disclosure and public ownership, while no significant relationships between voluntary disclosure and institutional ownership, director ownership, and foreign ownership have been found. The empirical findings of the study will provide evidence to promote the voluntary disclosure characterized by the ownership structures. The findings have important implications for both local and foreign investors as they make their investment decisions especially related to a transition economy. Besides, the findings will assist, not only the corporate executives in rearranging their reporting paradigm, but also the regulators and governments in similar transition economy in adopting and formulating their corporate policies and strategies.

• International Journal of Internet, Broadcasting and Communication
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• v.13 no.2
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• pp.20-26
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• 2021

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.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.327-333
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• 2021

Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.53-62
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• 2020

The study aims to provide some plausible explanation for why Vietnamese listed companies only stop at the level of truthful presentation of information related to accounting data through the opinion of independent auditors. The information is only at the level of compliance with the requirements of Circular 155/2015/TT-BTC in form, but in essence is sketchy. What factors affect the level of voluntary disclosure of listed companies in Vietnam? In order to identify the factors affecting voluntary information disclosure on annual reports of listed companies, the study collected data on annual reports of 122 companies listed on the stock market in Ho Chi Minh City in the period 2015-2018 and uses regression analysis methods. The research presents 8 factors affecting the level of voluntary information disclosure including: Firm size, Listed time, Profitability, Solvency, Separation of board of directors and executive director, Board size, Organizational ownership and Foreign ownership. Next, the study conducted descriptive statistical analysis correlation coefficient analysis to examine the correlation and relevance of independent variables measured by the scale ratio, testing multiple linear regression model. The results of the study show that factors listed time, profitability and organizational ownership affecting voluntary information disclosure on annual reports of listed companies in Vietnam.

• International journal of advanced smart convergence
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• v.7 no.2
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• pp.86-94
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• 2018

This study focuses on presenting the IT program module provided by real - time forecasting and database of the voluntary disclosure quality measure in order to solve the problem of capital cost due to information asymmetry of external investors and corporate executives. This study suggests a model of the algorithm that the quality of real - time voluntary disclosure can be provided to all investors immediately by IT program in order to deliver the meaningful value in the domestic capital market. This is a method of generating and analyzing real-time or non-real-time prediction models by transferring the predicted estimates delivered to the Big Data Log Analysis System through the statistical DB to the statistical forecasting engine.

• The Journal of Industrial Distribution & Business
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• v.10 no.3
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• pp.7-16
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• 2019

Purpose - The purpose of this paper is to investigate the determinants of corporate anti-corruption practice disclosure (ACPD) from the perspective of rent-seeking theory. Research design, data, and methodology - Data are hand-collected from corporate social responsibility reports (CSRR) issued by 724 A-share listed firms in China. This paper provides an empirical analysis of the relationship between ownership structure and corporate ACPD as well as its moderating role in the institutional environment. Results - Our findings indicate that rent-seeking is a key factor in influencing corporate ACPD. State-owned enterprises disclose significantly more anti-corruption information than private ones in order to achieve personal promotion of top executives. Monopoly enterprises reported significantly less anti-corruption information than enterprises in competitive industries due to their rent-seeking behavior. The reduction of government intervention and improvement of legal environment are helpful to curb corporate rent-seeking activities and enhance the level of corporate ACPD. Conclusions - Rent-seeking is an important factor in explaining corporate voluntary disclosure in emerging countries. Institutional environment also plays a moderating role in the relationship between ownership structure and corporate voluntary disclosure. Our results are of interest to policy makers, regulators and market participants that are interested in corporate voluntary disclosure and corruption prevention.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.1
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• pp.281-288
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• 2019

This study examines the relationship between R&D intensity and disclosure. R&D activities are essential in bringing innovation to companies. However, R&D activities are naturally uncertain and increase information asymmetry. Thus, firms with high R&D activities are more likely to have the incentive to communicate the potential of R&D investment to the market through voluntary disclosure and, concurrently, resolve information asymmetry. Meanwhile, incentives to less voluntary disclosure exist because of the proprietary cost and the risk of competitiveness loss. Furthermore, the uncertainties inherent in R&D activities caused the possible decrease in the information accuracy. For the two opposing views, this study investigates the relationship between R&D intensity and disclosure frequency using the Regulation Fair Disclosure data in Korea. Moreover, the relationship between R&D intensity and usefulness of the information disclosed is also examined. Using firm sample listed in the 2011-2016 Korea Stock Market, results show that firms with high R&D intensity make disclosures more frequent. Subsequently, the analysis using forecast sample shows that management forecast error is higher in firms with high R&D intensity. This research contributes to the existing literature by presenting evidence that R&D intensity is a significant factor affecting manager's disclosure behavior and information usefulness.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.1
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• pp.231-237
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• 2017

This study examines the relationship between voluntary information disclosure and the effective tax rate using Investor Relation (IR) as the proxy for the level of the firm's voluntary information disclosure, and effective corporate tax rate as the proxy for the level of tax avoidance. This study considers sample data from 1,396 firms listed on the Korea Composite Stock Price Index (KOSPI) from 2011-2014. The results of this study are as follows: Investor Relation (IR) had a positive correlation with effective corporate tax rate. This result got on with the result of additional analysis using extra measurement of effective corporate tax rate. According to these results, we expect that firms featuring greater voluntary information disclosure report enhanced business performance. This study contributes understanding how Investor Relation (IR) affects tax avoidance. We hope that this study can promote the development of capital markets and provide good news to investors for firms that have greater information disclosure.