Corporate governance characteristics and voluntary disclosure - Evidence from VN100
Abstract
This thesis aims to investigate the extent of optional disclosure in Vietnam and its association with corporate governance mechanisms. A sample of listed companies in VN100 from 2014 to 2016 is used. A checklist is adopted to measure voluntary disclosure index and other proxies are also used as measurements for independent and control variables. The descriptive analysis illustrates that the average index in terms of voluntary disclosure is approximately 0.47. The results from panel regressions indicate significantly positive relations between foreign ownership, listing duration, profitability and voluntary disclosure respectively. Other three significant and positive links are found between voluntary disclosures and foreign ownership, audit committee presence, audit quality when investigating panels with time lagged effects.
Key words: voluntary disclosure, corporate governance characteristics, Vietnam, VN100.