The impact of ownership structure and family board domination on voluntary disclosure for Jordanian listed companies
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Authors
Haddad, Ayman
AlShattarat, Wasim
Abu-Ghazaleh, Naser
Issue Date
2015
Type
Journal Article
Peer-Reviewed
Peer-Reviewed
Language
Keywords
Alternative Title
Abstract
Abstract This study investigates the impact of ownership structure and family
board domination on voluntary disclosure for Jordanian listed companies. Ownership
structure is characterised by government ownership, outside ownership, managerial
ownership and number of shareholders. This study is based on a crosssectional
examination of the effect of corporate ownership structure and family
domination on voluntary disclosure after controlling other variables for 57 nonfinancial
Jordanian companies listed on the Amman Stock Exchange. The multiple
regression results show that the extent of voluntary disclosure is positively associated
with government ownership and negatively associated with the proportion of
shares held by management. Furthermore, we show that family domination is a
significant factor in explaining variations in voluntary disclosure. We conclude that
government ownership can help to promote transparency, but it has not yet
eliminated the influence of management and the family control of boards on disclosure. However, outside ownership and number of shareholders are not associated with voluntary disclosure.