دانلود مقاله ISI انگلیسی شماره 51963
عنوان فارسی مقاله

ارتباط بین افشای داوطلبانه و حاکمیت شرکتی در حضور درگیری های شدید آژانس

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
51963 2013 13 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
The association between voluntary disclosure and corporate governance in the presence of severe agency conflicts
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Advances in Accounting, Volume 29, Issue 2, December 2013, Pages 286–298

کلمات کلیدی
ترکیب هیئت مدیره؛ مدیران مستقل؛ درگیری آژانس؛ تمرکز مالکیت؛ افشای داوطلبانه
پیش نمایش مقاله
پیش نمایش مقاله ارتباط بین افشای داوطلبانه و حاکمیت شرکتی در حضور درگیری های شدید آژانس

چکیده انگلیسی

Agency conflicts between different types of investors are particularly severe in the presence of high family and block-holder ownership. By focusing on a setting characterised by high ownership concentration, we study the role of independent directors in promoting transparency through increased disclosure. In our tests, we use a sample of Spanish firms and, consistent with prior work, show that the presence of these directors is strongly associated with increased voluntary disclosure. Additionally, we find that when an executive director takes on Chair responsibilities the level of voluntary information is reduced, creating potential conflicts with the role of independent directors. Our results suggest that a strong legal framework holds firm-level clashes of interest in check. We conclude that this regulatory environment can create sufficient incentives to bring together the interests of minority and majority shareholders and guarantee an efficient monitoring role of independent directors. However, results suggest that other mechanisms should be reinforced in order to improve the role of governance control on agency relationships, particularly in the case of the concentration of Chair and executive responsibilities.

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