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Investment opportunity set, ownership control and voluntary disclosures in Malaysia

journal contribution
posted on 06.12.2017, 00:00 by M Akhtaruddin, Mahmud Hossain
This study examines the association between investment opportunity set and voluntary disclosures. The influence of ownership control as a mediator in this relationship is also examined. The results obtained in the analyses are consistent with the predictions. This study indicates that growth firms benefit from higher level of voluntary disclosures and higher level of ownership control by outside shareholders due to their context of high agency costs. While firms with low growth options are characterized by higher level of ownership control by board and lower level of voluntary disclosures because they face a context where agency costs are low. Further, this study indicates that agency theory prescriptions regarding monitoring are more relevant in growth firms, but are redundant in low growth firms. Specifically, high growth firms are dominated by outside shareholders while low growth firms by the board.

History

Volume

3

Issue

2

Start Page

25

End Page

39

Number of Pages

15

eISSN

1834-352X

ISSN

1834-3511

Location

Australia

Publisher

Monash University

Language

en-aus

Peer Reviewed

Yes

Open Access

No

External Author Affiliations

Nanyang Technological University; Not affiliated to a Research Institute; Rajshahi University;

Era Eligible

Yes

Journal

Journal of administration and governance.

Exports