An evaluation of corporate governance disclosure : evidence from Malaysia, Singapore and Thailand

Awarding institution
  • University of Strathclyde
Date of award
  • 2008
Thesis identifier
  • T12006
Qualification Level
Qualification Name
Department, School or Faculty
  • This thesis investigates corporate governance disclosure in companies' annual reports in relation to: 1) the robustness of the disclosure scoring methods and the sensitivity of association testing, and 2) the influence of corporate governance disclosure on market perceptions of a company. Companies listed in Malaysia, Singapore and Thailand for the financial year ending 2004 were chosen as samples in this study. This thesis employs both quantitative and qualitative methods of investigation. For the quantitative approach, theories related to corporate governance disclosure and environmental characteristics of Malaysia, Singapore and Thailand are employed to formulate testable hypotheses. To help validate and complement statistical findings, questionnaires and interviews with listed companies, investment analysts, external auditors and regulators have also been conducted. The contributions to knowledge are: 1) to contribute to theories on corporate governance disclosure, 2) to contribute a methodological extension to the understanding of factors influencing corporate governance disclosure and the impact of the disclosure on market perceptions of companies, 3) to understand corporate governance disclosure from different environmental perspectives such as culture and levels of economic and capital market developments, and 4) to provide possible suggestions for corporate governance codes or principles in relation to corporate governance disclosure. Key findings are: The regression results based on different scoring methods may bring out different sets of explanatory variables, suggesting that employing different scoring methods can help provide a clearer explanation/picture of corporate governance disclosure and its impact on market perceptions. Although financial disclosure theories can be applied to the area of corporate governance disclosure, the explanations of the theories should be interpreted with particular relevance to the context of corporate governance disclosure. Environmental determinism theory, which suggests that the environment in which companies operate can have an influence on their disclosure, is the dominant theory in explaining country differences in corporate governance disclosure.
Resource Type
Date Created
  • 2008
Former identifier
  • 775033