1,713
Views
15
CrossRef citations to date
0
Altmetric
Articles

Factors influencing corporate governance disclosure of companies listed on the Alternative Exchange (AltX) in South Africa

&
Pages 29-50 | Received 02 Aug 2013, Accepted 07 Mar 2014, Published online: 01 Apr 2015

References

  • Aguilera, R. V., & Cuervo-Cazurra, A. (2004). Codes of good governance worldwide: What is the trigger? Organization Studies, 25, 415–443. doi: 10.1177/0170840604040669
  • Ahmed, K., & Courtis, J. K. (1999). Associations between corporate characteristics and disclosure levels in annual reports: A meta-analysis. The British Accounting Review, 31, 35–61. doi: 10.1006/bare.1998.0082
  • Akhtaruddin, M., & Haron, H. (2010). Board ownership, audit committees’ effectiveness and corporate voluntary disclosures. Asian Review of Accounting, 18, 245–259. doi: 10.1108/13217341011089649
  • Aksu, M. H., Önder, T., & Saatçioğlu, K. (2007). Auditor selection, client firm characteristics, and corporate governance: Evidence from an emerging market.
  • Aldamen, H., & Duncan, K. (2012). Does adopting good corporate governance impact the cost of intermediated non-intermediated debt? Accounting and Finance, 52, 49–76. doi: 10.1111/j.1467-629X.2011.00439.x
  • Allan, P., & Widman, A. (2000). A comparison of the views of CEOs and public pension funds on the corporate governance issues of chairman-CEO duality and election of lead directors. American Business Review, 18, 49–54.
  • Allen, F. (2005). Corporate governance in emerging economies. Oxford Review of Economic Policy, 21, 164–177. doi: 10.1093/oxrep/gri010
  • Allergrini, M., & Greco, G. (2013). Corporate boards, audit committees and voluntary disclosure: Evidence from Italian listed companies. Journal of Management & Governance, 17, 187–216. doi: 10.1007/s10997-011-9168-3
  • Al-Shammari, B. (2008). Voluntary disclosure in Kuwait corporate annual reports. Review of Business Research, 8, 62–83.
  • Ananchotikul, A., & Eichengreen, B. (2009). Corporate governance reform in emerging markets: How much, why, and with what effects? Journal of the Japanese and International Economies, 23, 149–176. doi: 10.1016/j.jjie.2009.01.005
  • Aytekin, I., Miles, M., & Esen, S. (2013). Corporate governance: A comparative study of practices in Turkey and Canada. IUP Journal of Corporate Governance, 12(2), 7–27.
  • Ayuso, S., & Argandoña, A. (2007). Responsible corporate governance: Towards a stakeholder board of directors (IESE Business School Working Paper No. 701). Barcelona: IESE Business School.
  • Barack, K., & Moloi, T. (2010). Assessing of corporate governance reporting in the annual reports of South African listed companies. Southern African Journal of Accountability and Auditing Research, 10, 19–31.
  • Barako, D. G., Hancock, P., & Izan, H. Y. (2006). Factors influencing voluntary corporate disclosure by Kenyan companies. Corporate Governance: An International Review, 14, 107–125. doi: 10.1111/j.1467-8683.2006.00491.x
  • Beasley, M. S., & Salterio, S. E. (2001). The relationship between board characteristics and voluntary improvements in audit committee composition and experience. Contemporary Accounting Research, 18, 539–570. doi: 10.1506/RM1J-A0YM-3VMV-TAMV
  • Black, B. S., de Carvalho, A. G., & Gorga, E. (2012). What matters and for which firms for corporate governance in emerging markets? Evidence from Brazil (and other BRIK countries). Journal of Corporate Finance, 18, 934–952. doi: 10.1016/j.jcorpfin.2011.10.001
  • Brown, L. D., & Caylor, M. L. (2009). Corporate governance and firm operating performance. Review of Quantitative Finance and Accounting, 32, 129–144. doi: 10.1007/s11156-007-0082-3
  • Cerbioni, F., & Parbonetti, A. (2007). Exploring the effects of corporate governance on intellectual capital disclosure: An analysis of European biotechnology companies. European Accounting Review, 16, 791–826. doi: 10.1080/09638180701707011
  • Chau, G. K., & Gray, S. J. (2002). Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore. The International Journal of Accounting, 37, 247–265. doi: 10.1016/S0020-7063(02)00153-X
  • Cheung, S. Y., Connelly, J. T., Limpaphayom, P., & Zhou, L. (2006, August). Determinants of corporate disclosure and transparency: Evidence from Hong Kong and Thailand. Paper presented at the American Accounting Association 2006 Annual Meeting, Washington, DC, USA.
  • Dalton, D. R., Daily, C. M., Ellstrand, A. E., & Johnson, J. L. (1999). Number of directors and financial performance: A meta-analysis. The Academy of Management Journal, 42, 674–686. doi: 10.2307/256988
  • Davidson, R., Steward, J., & Kent, P. (2005). Internal governance structures and earnings management. Accounting & Finance, 45, 241–267. doi: 10.1111/j.1467-629x.2004.00132.x
  • Dedman, E. (2002). The Cadbury Committee on recommendations on corporate governance – a review of compliance and performance impacts. International Journal of Management Reviews, 4, 335–352. doi: 10.1111/1468-2370.00091
  • Deegan, C. (2009). Financial accounting theory (3rd ed.). New York, NY: McGraw-Hill.
  • Depoers, F. (2000). A cost benefit study of voluntary disclosure: Some empirical evidence from French listed companies. European Accounting Review, 9, 245–263. doi: 10.1080/09638180050129891
  • Eng, L. L., & Mak, Y. T. (2003). Corporate governance and voluntary disclosure. Journal of Accounting and Public Policy, 22, 325–345. doi: 10.1016/S0278-4254(03)00037-1
  • Farber, D. B. (2005). Restoring trust after fraud: Does corporate governance matter? The Accounting Review, 80, 539–561. doi: 10.2308/accr.2005.80.2.539
  • Finkelstein, S., & Hambrick, D. C. (1996). Strategic leadership: Top executives and their effects on organizations. Minneapolis/St Paul, MN: West.
  • Forker, J. J. (1992). Corporate governance and disclosure quality. Accounting and Business Research, 22, 111–124. doi: 10.1080/00014788.1992.9729426
  • Ghazali, N. A. M. (2010). Ownership structure, corporate governance and corporate performance in Malaysia. International Journal of Commerce and Management, 20, 109–119. doi: 10.1108/10569211011057245
  • Goodwin-Stewart, J., & Kent, P. (2006). The use of internal audit by Australian companies. Managerial Auditing Journal, 21, 81–101. doi: 10.1108/02686900610634775
  • Grant, R. M., & Visconti, M. (2006). The strategic background to corporate accounting scandals. Long Range Planning, 39, 361–383. doi: 10.1016/j.lrp.2006.09.003
  • Gray, R., Owen, D., & Adams, C. (1996). Accounting and accountability: Social and environmental accounting in a changing world. Accounting, Auditing & Accountability Journal, 10, 325–364. doi: 10.1108/09513579710178106
  • GRI (Global Reporting Initiative). (2009). What is sustainability reporting? Amsterdam: GRI.
  • Hamilton, S., & Micklethwait, A. (2006). Greed and corporate failure. New York, NY: Palgrave Macmillan.
  • Heenetigala, K., & Armstrong, A. F. (2011, December). The Impact of Corporate Governance on firm performance in an unstable economic and political environment: Evidence from Sri Lanka. In 2012 Financial Markets & Corporate Governance Conference. Melbourne, Australia, February 2012.
  • Ho, S. S. M., & Shun Wong, K. (2001). A study of the relationship between corporate governance structures and the extent of voluntary disclosure. Journal of International Accounting, Auditing and Taxation, 10, 139–156. doi: 10.1016/S1061-9518(01)00041-6
  • Huafang, X., & Jianguo, Y. (2007). Ownership structure, board compensation and corporate voluntary disclosure: Evidence from listed companies in China. Managerial Auditing Journal, 22, 604–619. doi: 10.1108/02686900710759406
  • Huyghebaert, N., & Wang, L. (2012). Expropriation of minority investors in Chinese listed firms: The role of internal and external corporate governance mechanisms. Corporate Governance: An International Review, 20, 308–332. doi: 10.1111/j.1467-8683.2012.00909.x
  • IoDSA (Institute of Directors in Southern Africa). (1994). King report on corporate governance. Parktown: IoDSA.
  • IoDSA (Institute of Directors in Southern Africa). (2002). King report on corporate governance for South Africa – 2002 (King report II). Parktown: IoDSA.
  • IoDSA (Institute of Directors in Southern Africa). (2009). King report on governance (King III). Parktown: IoDSA.
  • James, H. L. (2011, February). Is small and independent board a better board? An example of high-tech industries. Paper presented at the 2012 MFA Annual Meeting, New Orleans, LA, USA.
  • Jensen, M. C. (1993). The modern industrial revolution, exit, and the failure of internal control systems. Journal of Finance, 48, 831–880. doi: 10.1111/j.1540-6261.1993.tb04022.x
  • Jensen, M., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3, 305–360. doi: 10.1016/0304-405X(76)90026-X
  • JSE (2012). “Alternative Exchange Listing Requirements”. Retrieved from https://www.jse.co.za/capital/altx
  • Khan, A., Muttakin, M. B., & Siddiqui, J. (2013). Corporate governance and corporate social responsibility disclosures: Evidence from an emerging economy. Journal of Business Ethics, 114, 207–223. doi: 10.1007/s10551-012-1336-0
  • Klapper, L. F., & Love, I. (2004). Corporate governance, investor protection, and performance in emerging markets. Journal of Corporate Finance, 10, 703–728. doi: 10.1016/S0929-1199(03)00046-4
  • Kusumawati, D. N. (2006). Profitability and Corporate Governance Disclosure: An Indoneian Study. Simposium Nasional Akuntansi-9 Padahg, 23–26 Agustus. K-INT-14, pp. 1–19.
  • Lehn, K. M., Patro, S., & Zhao, M. (2009). Determinants of the size and composition of US corporate boards: 1935–2000. Financial Management, 38, 747–780. doi: 10.1111/j.1755-053X.2009.01055.x
  • Matolcsy, Z., Tyler, J., & Wells, P. (2007). Is continuous disclosure associated with board independence? Australian Journal of Management, 37, 99–124. doi: 10.1177/0312896211428492
  • O'Sullivan, M., Percy, M., & Steward, J. (2008). Australian evidence on corporate governance attributes and their association with forward looking information in the annual report. Journal of Management & Governance, 12, 5–35. doi: 10.1007/s10997-007-9039-0
  • Parsa, S., Chong, G., & Isimoya, E. (2007). Disclosure of governance information by small and medium sized companies. Corporate Governance, 7, 635–648. doi: 10.1108/14720700710827211
  • Patelli, L., & Prencipe, A. (2007). The relationship between voluntary disclosure and independent directors in the presence of a dominant shareholder. European Accounting Review, 16, 5–33. doi: 10.1080/09638180701265820
  • Plastow, K., Gallery, G., & Gallery, N. (2012). An analysis of the corporate governance practices of smaller listed Australian companies. Corporate Ownership and Control, 10(1), 240–260.
  • PwC (PricewaterhouseCoopers). (2011). Company size matters: Perspectives on IT governance. Toronto: PwC.
  • Ramly, Z. (2012). Impact of corporate governance quality on the cost of equity capital in an emerging market: Evidence from Malaysian listed firms. African Journal of Business Management, 6, 1733–1748.
  • Rossouw, G. J. (2011). Social and ethics committees – blessing or burden? Retrieved from http://www.gaaaccounting.com/social-and-ethics-committees-blessing-or-burden/
  • Samaha, K., & Dahawy, K. (2011). An empirical analysis of corporate governance structures and voluntary corporate disclosure in volatile capital markets: The Egyptian experience. International Journal of Accounting, Auditing and Performance Evaluation, 7, 61–93. doi: 10.1504/IJAAPE.2011.037726
  • Samaha, K., Dahawy, K., Hussainey, K., & Stapleton, P. (2012). The extent of corporate governance disclosure and its determinants in a developing market: The case of Egypt. Advances in Accounting, 28, 168–178. doi: 10.1016/j.adiac.2011.12.001
  • Scholtz, H. E. (2009). Share options as part of executive remuneration: Aligning the interests of stakeholders. Southern African Business Review, 13(2), 58–87.
  • Scholtz, H. E., & Smit, A. (2012). Executive remuneration and company performance for South African companies listed on the Alternative Exchange (AltX). Southern African Business Review, 16(1), 22–38.
  • Shleifer, A., & Vischny, R. (1997). Management entrenchment: The case of manager-specific investments. Journal of Finance, 50, 737–783. doi: 10.1111/j.1540-6261.1997.tb04820.x
  • South Africa boasts best regulation of securities exchanges. (2011, September 9). JSE (Johannesburg Stock Exchange). Retrieved from https://www.jse.co.za/news/south-africa-boasts-best-regulation-of-securities-exchanges
  • Tsipouri, L., & Xanthakis, M. (2004). Can corporate governance be rated? Ideas based on the Greek experience. Corporate Governance: An International Review, 12, 16–28. doi: 10.1111/j.1467-8683.2004.00340.x
  • Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. (2008). Corporate governance in emerging economies: A review of the principal–principal perspective. Journal of Management Studies, 45, 196–220. doi: 10.1111/j.1467-6486.2007.00752.x

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.