The Nature of Controlling Shareholders, Political Background and Corporate Anti-Corruption Practice Disclosure

• 발행기관: 한국유통과학회
• 저자명: Hong Yin Ruonan Zhang
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 6 No.1, 47~58쪽, 전체 12쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2019.01.31

영문 초록

The purpose of this paper is to examine the relationship between the nature of controlling shareholders and corporate anti-corruption practice disclosure (ACPD) as well as the mediating role of political background of the chairman or CEO of the firm on the relationship between the two. The content analysis was conducted to extract ACPD from standalone corporate social responsibility reports (CSRR) of 703 China’s A-share listed companies. A dummy variable was constructed according to whether a firm disclosed ACPD or not. Logistic regression analysis was used then. Results show that the nature of controlling shareholders has a significant impact on corporate ACPD, with central enterprises disclosing the most frequently, local state-owned enterprises the second and private enterprises the least. Political background of the chairman or CEO has a negative impact on corporate ACPD of state-owned enterprises. These findings have some useful insights in understanding the rent-seeking behavior and information disclosure behavior of corporates in emerging markets. In order to curb the serious corruption problem which is commonplace in developing countries like China, the government should exert certain pressure to strengthen the supervision of information disclosure of listed firms and improve information transparency.

목차

1. Introduction

2. Theoretical Background and Hypothesis Development

3. Research Method

4. Empirical Results

5. Conclusions

References

키워드

Controlling Shareholders Political Background Anti-Corruption Practice Disclosure Rent-seeking Theory