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Disclosure Practices by Family Firms: Evidence from Swedish Publicly Listed Firms

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  • Derya Vural

Abstract

I investigate the effect of family ownership on firms’ disclosure practices in their annual reports. In specific, I study Swedish publicly listed firms, which are typically characterized by controlling owners that have a strong influence in the corporate governance decisions of the firm, including corporate disclosures. To measure disclosure, I construct a comprehensive disclosure index covering information on (1) corporate governance, (2) strategic and financial targets and (3) notes to the financial statements. The results reveal that overall, family firms provide less disclosure in annual reports than non-family firms do. The finding is consistent with the premise that through their management positions, family owners can directly monitor managers and avoid costly public disclosures. Overall, the results suggest that ownership structure of firms is important to consider in understanding firms’ disclosure incentives, particularly in settings where controlling owners play a significant role in the governance of the firm.

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  • Derya Vural, 2018. "Disclosure Practices by Family Firms: Evidence from Swedish Publicly Listed Firms," Accounting in Europe, Taylor & Francis Journals, vol. 15(3), pages 347-373, September.
    • Handle: RePEc:taf:acceur:v:15:y:2018:i:3:p:347-373
    DOI: 10.1080/17449480.2018.1479531
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    Cited by:

    1. Shankar Shaw, Tara & Raithatha, Mehul & Krishnan, Gopal V. & Cordeiro, James J., 2021. "Did mandatory CSR compliance impact accounting Conservatism? Evidence from the Indian Companies Act 2013," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(3).
    2. Robert O. Etengu & Dr. Tobias O. Olweny & Dr. Josephat O. Oluoch, 2020. "Voluntary Disclosure of Financial and Capital Market Data and Earnings Management: Empirical Evidence from Uganda," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 9(1), pages 1-3.
    3. Sandgren, Mattias & Uman, Timur & Nordqvist, Mattias, 2024. "The role of the strategic apex in shaping the disclosure strategy: A family firm in crisis," The British Accounting Review, Elsevier, vol. 56(3).
    4. Isaac Monday Ikpor & Enrico Bracci & Clementina Iruka Kanu & Riccardo Ievoli & Benedette Okezie & Sunday Mlanga & Charles Ogbaekirigwe, 2022. "Drivers of Sustainability Accounting and Reporting in Emerging Economies: Evidence from Nigeria," Sustainability, MDPI, vol. 14(7), pages 1-19, March.
    5. Imran Abbas Jadoon & Umara Noreen & Usman Ayub & Muhammad Tahir & Naima Shahzadi, 2021. "The Impact of Family Ownership on Quality and Disclosure of Internal Control in Pakistan," Sustainability, MDPI, vol. 13(16), pages 1-16, August.
    6. Denis Claude & Mabel Tidball, 2020. "Managerial Incentives and Polluting Inputs Under Imperfect Competition," International Series in Operations Research & Management Science, in: Pierre-Olivier Pineau & Simon Sigué & Sihem Taboubi (ed.), Games in Management Science, pages 165-186, Springer.
    7. Gjergji, Rafaela & Vena, Luigi & Campopiano, Giovanna & Sciascia, Salvatore & Cortesi, Alessandro, 2024. "Strategy disclosure and cost of capital: The key role of women directors for family firms," Journal of Family Business Strategy, Elsevier, vol. 15(2).
    8. Cieslak, Katarzyna & Hamberg, Mattias & Vural, Derya, 2021. "Executive compensation disclosure, ownership concentration and dual-class firms: An analysis of Swedish data," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 45(C).

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