FIRM SIZE, BOARD OF DIRECTORS’ QUALITY, MANAGERIAL OWNERSHIP AND LEVEL OF VOLUNTARY DISCLOSURE IN THAILAND

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Jakkravudhi Chobpichien, Hasnah Haron, Daing Nasir Ibrahim, Bambang Hartadi

https://doi.org/10.22495/cocv5i3c1p3

Abstract

Despite intensive efforts to determine the nature of the relationship between the firm size and the level of voluntary disclosure (VDI), empirical studies of this issue have produced mixed results. This paper attempts to delve deeper into this complex phenomenon by employing a resource dependency perspective to hypothesize a model of mediation as board of directors’ quality index (BOQI) is moderated by a high concentration of CEO’s ownership (HCEO). The findings suggest that the larger firm size, the higher is the BOQI and this in turn will lead to the higher VDI. These relationships appear to be weaker when there is moderation as HCEO, produced by the mediation process of the BOQI, and when this process is controlled, the residual moderation of the treatment effect is reduced. Further, board size as control variable is found to have a positive significant influence on BOQI and VDI.

Keywords: Firm Size, Board of Directors, Managerial Ownership, Voluntary Disclosure, Thailand

How to cite this paper: Chobpichien, J., Haron, H., Ibrahim, D. N., & Hartadi, B. (2008). Firm size, board of directors’ quality, managerial ownership and level of voluntary disclosure in Thailand. Corporate Ownership & Control, 5(3-1), 188-207. https://doi.org/10.22495/cocv5i3c1p3