Corporate Performance, Agency Costs and Non-financial Information Disclosure
Jing Wu,Fangying Yuan +1 more
- 01 Sep 2020
- Vol. 1634, Iss: 1, pp 012081
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TL;DR: Wang et al. as discussed by the authors studied the relationship between corporate performance, agency cost and non-financial information disclosure in Shanghai and Shenzhen A-share listed companies and found that the higher the level of NIF disclosure, the stronger the ability to control risks.
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Abstract: Taking Shanghai and Shenzhen A-share listed companies as samples, this paper studies the relationship between corporate performance, agency cost and non-financial information disclosure. It is found that non-financial information disclosure is positively correlated with corporate performance and negatively correlated with agency cost. Further analysis shows that the higher the level of non-financial information disclosure, the stronger the ability to control risks. Based on the stakeholder - agency theory, this paper studies the non-financial information disclosure of listed companies in China in reducing the agency cost among stakeholders. The conclusion shows that the managers should promote good non-financial information disclosure, which can not only improve the performance of the company, but also reduce the risk and agency cost.
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Citations
Disclosure and transparency of sustainability information in Spanish social enterprises: An empirical study of audited special employment centers
Elisabet Gómez‐González,E. Cano‐Montero,J. F. Santos-Peñalver,Julián Chamizo‐González +3 more
TL;DR: This study examines the factors influencing sustainability information disclosure in Spanish social enterprises, finding that sector, size, and financial performance impact transparency, with GRI standards and certain sectors influencing disclosure levels.
Does Financial Performance in Firms Benefit from Sustainability Performance? The Mediating Effect of Governance on Firm Performance of Listed Firms in Canada
Muhammad Moaz Tariq Bajwa,Michael O. Wood,Horatiu A. Rus +2 more
TL;DR: Does financial performance in firms benefit from sustainability performance? Yes, partially, with the mediating effect of governance on firm performance of listed firms in Canada.
References
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TL;DR: Corporate disclosure is critical for the functioning of an efficient capital market as mentioned in this paper, and firms provide disclosure through regulated financial reports, including the financial statements, footnotes, management discussion and analysis, and other regulatory filings.
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Paul M. Healy,Krishna G. Palepu +1 more
TL;DR: In this article, the authors provide a framework for analyzing managers' reporting and disclosure decisions in a capital markets setting, and identify key research questions and key researchquestions, concluding that current research has generated a number of useful insights.
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Agency Problems and Residual Claims
Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: Jensen and Fama as mentioned in this paper developed a set of propositions that explaim the special features of the residual claims of different organizational forms as efficient approaches to controlling agency problems and explained the survival of organizational forms in specific activities.
Board diversity and corporate investment oversight
TL;DR: In this paper, the association between board diversity, measured in both relation-oriented dimension (i.e., gender, race, and age) and task oriented dimension (e.g., tenure and expertise), and board performance in corporate investment oversight was examined.
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