Going back to go forward: on studying the determinants of corporate governance disclosure

Michail Nerantzidis (Department of Public Administration (Section of Taxation and Auditing), Panteion University of Social and Political Sciences, Athens, Greece)
Anastasios Tsamis (Panteion University of Economic and Social Sciences, Athens, Greece)

Corporate Governance

ISSN: 1472-0701

Publication date: 5 June 2017

Abstract

Purpose

The purpose of this study is to review the prior empirical studies that investigate the corporate governance (CG) determinants and provide a synopsis, and explore the main factors that drive the level of CG disclosure in the Greek context.

Design/methodology/approach

The authors perform an extensive review of the relevant literature and identify 24 papers that use various potential factors. Afterwards, the authors construct two different GC indices to investigate these potentials, and the authors conduct multiple regression analysis to identify and explain these determinants.

Findings

The empirical analysis shows that large Greek listed firms are more likely to disclose more CG information in the CG statement. In addition, the analysis shows statistically significant association with performance-related variables (such as Tobin’s Q and liquidity) and CG-related variables (such as independent members, board meetings and women on board).

Research limitations/implications

The results of the study support theoretical arguments that Greek listed firms disclose CG information not only to fulfill task-related requirements but also to be perceived as social and legitimate.

Originality/value

To the best of the authors’ knowledge, this is the first study that provides a synopsis of the prior literature in CG determinants, while it goes one step further by using the majority of the potential factors that have been used so far. Moreover, this study uses a multi-theoretical framework to address theoretical development, an approach that generates an outline of fruitful directions for future research.

Keywords

Citation

Nerantzidis, M. and Tsamis, A. (2017), "Going back to go forward: on studying the determinants of corporate governance disclosure", Corporate Governance, Vol. 17 No. 3, pp. 365-402. https://doi.org/10.1108/CG-07-2016-0145

Publisher

:

Emerald Publishing Limited

Copyright © 2017, Emerald Publishing Limited

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
To rent this content from Deepdyve, please click the button.
If you think you should have access to this content, click the button to contact our support team.