Authors : Abdul Ghofar, Amiril Azizah and Kristin Rosalina
Abstract: This study is aimed at providing evidence with regard to: the economic consequences of the quality of voluntarily/extended disclosure and the influence of ownership and director characteristics on the quality of extended disclosure. Using 260 firm years, this study finds that the increase of disclosure quality was found to have a positive correlation with the increase of share price 5 days after the announcement date and the increase of ROA. In regard to ownership and director characteristics, this study finds that government ownership and board size had a positive relationship with disclosure quality while management and block-holder ownership were found not to be relevant in increasing disclosure quality. The individual characteristics of independence and financial expertise/background of directors were not found to have any relationship with the quality of extended disclosure.
Abdul Ghofar, Amiril Azizah and Kristin Rosalina, 2015. Determinants and Consequences of Extended Disclosure under Concentrated Ownership Environment: The Indonesian Evidence. International Business Management, 9: 1352-1358.