Corporate governance disclosures – A comparative analysis of countries at different stages of economic development

Abstract

Examining the levels of both mandatory and voluntary corporate governance disclosures of publicly listed firms in three different economies, this study finds that differences in governance, firm and country characteristics among firms affect different levels of disclosure. Results have implications for key stakeholders in understanding how economic and country characteristics affect disclosures and help in determining whether formulating regulations to strengthen the corporate governance mechanisms of firms are worthwhile or whether they incur unnecessary costs.