The effect of corporate governance factors on the quality of financial reporting in family and non-family firms

被引:13
|
作者
Borralho, Joao Miguel Capela [1 ]
Gallardo-Vazquez, Dolores [2 ]
Hernandez-Linares, Remedios [3 ]
Paiva, Inna Choban de Sousa [4 ]
机构
[1] Lusofona Univ, Sch Econ Sci & Org, Lisbon, Portugal
[2] Univ Extremadura, Fac Econ & Business Studies, Ave Elvas S-N, Badajoz, Spain
[3] Univ Extremadura, Univ Ctr Merida, Ave Santa Teresa de Jornet 38, Merida, Badajoz, Spain
[4] Lisbon Univ Inst ISCTE IUL, Business Res Unit BRU IUL, Ave Forcas Armadas, Lisbon, Portugal
关键词
Corporate governance; Family firms; Financial reporting quality; Spain; REAL EARNINGS MANAGEMENT; SOCIOEMOTIONAL WEALTH; BOARD INDEPENDENCE; GENDER DIVERSITY; OWNERSHIP; PRIVATE; PERFORMANCE; INFORMATIVENESS; TRANSPARENCY; DETERMINANTS;
D O I
10.6018/rcsar.358451
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
The objective of this study is to explore the quality of financial information of Spanish firms, by comparing family firms with non-family firms, and relating this quality with corporate governance practices. For this purpose, a sample of 650 Spanish firms was analysed during the period 2011-2016. Based on agency theory and socioemotional wealth literature, the results show a higher quality of financial information in family firms, a relationship which is reinforced by corporate governance factors. Our results are consistent with the scant previous research, and with the premises of agency theory, which indicate lower asymmetry of information between owners and managers in the singular context of family firms. Additionally, our work provides evidence that the participation of women on the board boosts the quality of financial information in family firms, contributing to the justification of family firm heterogeneity in terms of earnings management. This study contributes to reducing the gap in the literature on the influence of the family business context and the influence of women on the board on the quality of financial reporting. (C) 2020 ASEPUC. Published by EDITUM - Universidad de Murcia.
引用
收藏
页码:167 / 179
页数:13
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