Corporate voluntary disclosure and the separation of cash flow rights from control rights.

• Main Author: Lee, Kin Wai.
• Other Authors: Nanyang Business School
• Format: Research Report
• Language: English
• Published: 2008
• Subjects: DRNTU::Business::Finance::Corporate governance
• Online Access: http://hdl.handle.net/10356/14563
• Institution: Nanyang Technological University

We find that corporate voluntary disclosure is negatively associated with the separation of cash flow rights from control rights. This result is consistent with the notion that as the separation of cash flow rights from control rights increases, controlling owners have larger incentives to exprop...