Board Educational, Board Occupational, Ownership Structure and Directors' Remuneration Disclosure in ASEAN Countries: Some Malaysia and Singapore Evidence

Transparency and boardroom issues have been the focus of researchers particularly after the Asian financial crisis in 1997. These issues are often cited as an important trust to the stakeholders place in organizations. Much of the prior literature examining the factors influencing on the aspects of disclosure without reference to the board characteristics (e.g., educational and occupational background) and ownership structure which influence the transparency of directors' remuneration disclosure. Therefore, the paper attempt to fill the gaps and shed some more general light on the relationship of board characteristics (educational and occupational background) and ownership structure towards director remuneration disclosure from the stand point of ASEAN countries (e.g., Malaysia and Singapore). Director remuneration disclosure checklist is used to measure the transparency of director remuneration among Malaysia and Singapore public listed companies. Board educational background, ownership concentration by 10 largest shareholders, presence of female director on board and government ownership is significantly associated with the extent of directors' remuneration disclosure.