Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/187597 
Year of Publication: 
2013
Citation: 
[Journal:] China Journal of Accounting Research [ISSN:] 1755-3091 [Volume:] 6 [Issue:] 4 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2013 [Pages:] 265-285
Publisher: 
Elsevier, Amsterdam
Abstract: 
This paper offers in-depth analysis of the determinants and features of voluntary disclosure based on information in the annual reports of 1066 Chinese firms listed on the Shanghai and Shenzhen Stock Exchanges. This extensive sample represents about 80% of all public companies in China. Our findings suggest that voluntary disclosure in China is positively related to firm size, leverage, assets-in-place, and return on equity and is negatively related to auditor type and the level of maturity or sophistication of the intermediary and legal environments. We also find some evidence to suggest a quadratic convex association between state ownership and voluntary disclosure. However, our analysis provides no evidence that extensive disclosure benefits public companies in China in the form of a lower cost of equity.
Subjects: 
Voluntary disclosure
Cost of equity
Ultimate control
Chinese stock market
JEL: 
G30
G32
G34
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.