A discussion of 'corporate disclosure by family firms'

• 成果类型: Article; Proceedings Paper
• 署名作者: Hutton, Amy P.
• 署名单位: Boston College
• 刊物名称: JOURNAL OF ACCOUNTING & ECONOMICS
• ISSN/ISSBN: 0165-4101
• DOI: 10.1016/j.jacceco.2007.01.004
• 发表日期: 2007
• 关键词: earnings; performance; determinants; incentives; management; OWNERSHIP

摘要

Using a unique empirical setting, family firms in the S&P 500, Ali et al. [Ali, A., Chen, T.-Y., Radhakrishran, S., 2007. Corporate disclosures by family firms. Journal of Accounting and Economics, doi:10.1016/j.jacceco.2007.01.006] contribute to a growing body of research on the relation betv,een corporate governance and corporate disclosure quality. Using an indicator variable for sub-sample membership as an instrument for differing agency costs, the authors interpret their findings as consistent with family firms facing lower overall agency costs and providing higher quality corporate disclosures. However, their empirical findings are open to alternative interpretations and in totality present relatively weak, indirect evidence of a relation between corporate governance and the quality of corporate disclosure. (c) 2007 Elsevier B.V. All rights reserved.