http://dx.doi.org/10.1016/j.jaccpubpol.2010.02.001">
 

Document Type

Journal Article

Department/Unit

Department of Finance & Decision Sciences

Title

A transparency disclosure index measuring disclosures: Chinese listed companies

Language

English

Abstract

This study addresses the question whether transparency matters among Chinese listed companies. We construct a comprehensive scorecard, based on the OECD Principles of Corporate Governance, in order to assess the transparency of 100 major Chinese listed companies. Based on the scorecard, we construct a Transparency Index (TI) which is used to assess these major Chinese listed companies during 2004-2007. The results reveal that there is a positive and significant relation between company transparency and market valuation. When we further split the TI into Mandatory and Voluntary Disclosure Indexes, it is found that market valuation is only related to the Voluntary Disclosure Index. Finally, we find that more profitable, overseas-listed, and companies with a separate CEO and board chairman tend to disclose more on a voluntary basis. © 2010 Elsevier Inc.

Keywords

China, Corporate Governance, Disclosure, OECD Principles

Publication Date

2010

Source Publication Title

Journal of Accounting and Public Policy

Volume

29

Issue

3

Start Page

259

End Page

280

Publisher

Elsevier

ISSN (print)

02784254

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