CORPORATE GOVERNANCE DISCLOSURE IN THE EXISTENCE OF OWNERSHIP STRUCTURE AND GROWTH OPPORTUNITIES
Journal Title: Jurnal Keuangan dan Perbankan - Year 2017, Vol 21, Issue 2
Abstract
This study examines whether ownership structure which was divided into block-holder ownership, managerial ownership, and public ownership had an influence on corporate governance disclosure and whether growth opportunities moderate that influence. Studies in this area mostly examined the role of ownership structure on corporate financial disclosure or public announcements conducted in the context of different countries and in more regulated industries in Indonesia. The scope of this study was manufacturing companies listed on the Indonesian Stock Exchange for the period of 2013. The results showed that between the ownership structures only block-holder ownership had a negative and significant influence on the corporate governance disclosure. Being the largest shareholders, block-holders might have better access on the inside information which made them better informed relative to other shareholders, thus arguably might desire less disclosure. The results also showed that the interaction variable between managerial ownership and growth opportunities was negative and significant. This indicates that in a growing company where the managerial ownership increases, the management would tend to reduce the corporate governance information they provided to the stakeholders.
Authors and Affiliations
Melinda Lydia Nelwan
Keywords
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