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Title: Corporate governance in Hong Kong : an empirical study of the effects of independent non-executive directors on voluntary corporate diclosures and adoption of best corporate governance practices
Other Titles: Xianggang qi ye guan zhi : yi xiang shi zheng yan jiu guan yu du li fei zhi xing dong shi dui gong si xin xi zi yuan pi lu ji cai na zui jia qi ye guan zhi chang gui zhi ying xiang
香港企業管治 : 一項實證研究關於獨立非執行董事對公司信息自願披露及採納最佳企業管治常規之影響
Authors: Cheng, Faat Ting Gary ( 鄭發丁)
Department: College of Business
Degree: Doctor of Business Administration
Issue Date: 2011
Publisher: City University of Hong Kong
Subjects: Corporate governance -- China -- Hong Kong.
Disclosure of information -- China -- Hong Kong.
Outside directors of corporations -- China -- Hong Kong.
Notes: CityU Call Number: HD2741 .C485 2011
vii, 142 leaves 30 cm.
Thesis (DBA)--City University of Hong Kong, 2011.
Includes bibliographical references (leaves 86-90)
Type: thesis
Abstract: Given the emphasis regulators and standard setters have placed in recent years on board independence and the recent corporate governance reforms in Hong Kong, this study investigates whether the inclusion of independent non-executive directors (INEDs) on company boards enhances voluntary disclosure in annual reports and the adoption of best corporate governance practices. In addition, because family control by family share ownership is prominent in Hong Kong firms, this study also examines whether family control moderates the relationship between INEDs, corporate disclosure, and the adoption of best corporate governance practices. Using 353 publicly listed companies in Hong Kong, the results of this study indicate that firms with more INEDs on the board are associated with a higher level of voluntary annual-report disclosure and are more inclined to adopt the best corporate governance practices. The extent of INEDs’ expertise and experience (proxied by education level, industrial knowledge, other independent directorships, and tenure) is positively associated with levels of corporate disclosure and best corporate governance practices. However, the positive association between INEDs’ attributes and disclosures is weaker in family-controlled firms relative to non-family-controlled firms.
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