Primary determinants of corporate governance disclosures: Evidence from the Philippine publicly listed companies

• Main Authors: Antolin, Renz Paolo J., Sabay, Emmanuel A., Sarmiento, Arden John B.
• Format: text
• Language: English
• Published: Animo Repository 2016
• Subjects: Corporate governance; Disclosure in accounting
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/7162
• Institution: De La Salle University

Good corporate governance is a means to establish market confidence and business integrity. It is also a necessity for companies that need to access equity capital for long term investments. In the Philippines, corporate governance disclosure is mandated and is multiple regulating bodies are present to monitor the disclosure practices of publicly listed companies. The primary objective of this study was to identify the relationships between levels of corporate governance disclosure and firm specific characteristics. The secondary purpose was to identify which of the five firm specific characteristics are determinants of corporate governance disclosures that signify to its variations in the top 50 publicly listed companies in the Philippines. The third purpose was to know the level of compliance of corporate governance disclosure to the requirements mandated by the Securities and Exchange Commission under the Code of Corporate Governance. The study consisted of 46 publicly listed companies. The sample is based on the ranking published in ADB's ASEAN Corporate Governance Scorecard Country Reports and Assessments 2013-2014. There was no significant relationship between corporate governance disclosure and total asset size, leverage, listing age, and presence of foreign ownership. A negative significant relationship was found between profitability using the return on assets ratio and corporate governance disclosure.