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Corporate governance and information transparency in Taiwan’s public firms: The moderating effect of family ownership

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  • Liu, Yunshi
  • Valenti, Alix
  • Chen, Yi-Jung

Abstract

This study incorporates insights from both institutional and family socioemotional wealth perspectives with agency theory to examine the relationships among governance practices, family ownership, and information disclosure quality. Employing a sample of 516 publicly listed firms in Taiwan over a period of 5 years (2006–2010), we found that high levels of board independence and board activity have a significant positive effect on disclosure quality. Further, family ownership positively moderated the relationship between board independence and disclosure quality. This relationship is stronger with a higher level of family ownership. The results support the institutional proposition that family-owned firms that pursue socioemotional wealth are more likely to promote information transparency to gain legitimacy and enhance their reputations with outside stakeholders.

Suggested Citation

  • Liu, Yunshi & Valenti, Alix & Chen, Yi-Jung, 2016. "Corporate governance and information transparency in Taiwan’s public firms: The moderating effect of family ownership," Journal of Management & Organization, Cambridge University Press, vol. 22(5), pages 662-679, September.
    • Handle: RePEc:cup:jomorg:v:22:y:2016:i:05:p:662-679_00
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    Cited by:

    1. Tessema, Abiot, 2019. "The impact of corporate governance and political connections on information asymmetry: International evidence from banks in the Gulf Cooperation Council member countries," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 35(C), pages 1-17.
    2. Guadalupe del Carmen Briano Turrent & Jannine Poletti-Hughes & Jonathan Williams, 2023. "Transparency on Corporate Governance and board of directors' strategies," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 18(2), pages 1-22, Abril - J.
    3. Valeriano Sanchez-Famoso & Jorge-Humberto Mejia-Morelos & Luis Cisneros, 2020. "New Insights into Non-Listed Family SMEs in Spain: Board Social Capital, Board Effectiveness, and Sustainable Performance," Sustainability, MDPI, vol. 12(3), pages 1-18, January.
    4. Abdul Mansulu, 2021. "Corporate Governance and Voluntary Disclosure Practices in Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 69(1), pages 111-125.
    5. Wei Wei & Ryan W. Tang & Jing Yu Yang, 2018. "Independent directors in Asian firms: An integrative review and future directions," Asia Pacific Journal of Management, Springer, vol. 35(3), pages 671-696, September.
    6. del Carmen Briano-Turrent, Guadalupe & Poletti-Hughes, Jannine, 2017. "Corporate governance compliance of family and non-family listed firms in emerging markets: Evidence from Latin America," Journal of Family Business Strategy, Elsevier, vol. 8(4), pages 237-247.

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