Effect of Ownership Structure on the Development of the Sustainabe Reporting
Subject Areas : Management AccountingAli Khozein 1 , Ghodratolah Talebnia 2 , Mansour Garkaz 3 , Bahman Banimahd 4
1 - Graduate PhD in Accounting, Islamic Azad University, Science and Research Branch, Tehran, Iran.
2 - Associate Professor, Islamic Azad University, Science and Research Branch, Tehran, Iran
3 - Associate Professor, Islamic Azad University, Gorgan Branch, Iran.
4 - Associate Professor, Islamic Azad University,Karaj Branch, Alborz, Iran
Keywords: Ownership Structure, sustainability reporting, stakeholders theory, disclosure,
Abstract :
This study aimed to test the stakeholders theory in Iran through the study of the effect of ownership structure on the development of sustainability reporting. This research is semi-experimental and applied one and content analysis and quantitative methods were used to do it. Data relating to the years 1385 to 1393 of 153 companies listed in Tehran Stock Exchange is used as the sample. Data were analyzed using descriptive statistics and multiple regression model analysis. The results showed that the ownership concentration and state ownership have no effect on the development of sustainability reporting in companies listed in Tehran Stock Exchange. On the other hand, by increasing the free float shareholders, the development of sustainability reporting was reduced. Sustainability Reporting in Iranian companies as well as companies in other Asian countries was low and it is need to improve a lot on disclosure issues related to corporate governance, economic, social and environmental sustainability
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* باغومیان، رافیک و نقدی، سجاد (1392). تأثیر ساز و کارهای حاکمیت شرکتی بر میزان افشای اختیاری در گزارش گری سالانۀ شرکت های پذیرفته شده در بورس اوراق بهادار تهران. مجله دانش حسابداری، سال 5، شماره 16، صص 119-136.
* بهار مقدم، مهدی؛ صادقی، زین العابدین و صفرزاده، ساره (1392). بررسی رابطه مکانیزم‌های حاکمیت شرکتی بر افشای مسئولیت اجتماعی شرکتها، فصلنامه حسابداری مالی، سال ۵، شماره ۲۰، صص 90-107.
* بزرگر، قدرت‌اله و وحید غفاری، (۱۳۸۷). حسابداری و گزارشگری پایداری شرکتها در هزاره سوم. مجله حسابدار، سال 23، شماره ۷ (پیاپی ۲۰۲)، صص ۷۵-86.
* خواجوی، شکراله و اعتمادی جوریابی، مصطفی (1394). مسئولیت اجتماعی شرکتها و گزارشگری آن. فصلنامه حسابداری سلامت، سال 4، شماره 2 (پیاپی 12)، صص 104-123.
* رحیمیان، نظام الدین؛ توکل نیا، اسماعیل و اسدی، زینب (1391). حسابداری مسئولیتهای اجتماعی، مسئولیت اجتماعی و پایداری شرکتها. مجله حسابدار رسمی، شماره 17 (پیاپی 29)، صص 32-40 .
* مشعشعی، محمد و نیککار، بهزاد (1391). نقش حسابداران درپایداری شرکتها باتاکید برچارچوب نظری پایداری فدراسیون بین المللی حسابداران، مجموعه مقالات اولین همایش منطقه ای پژوهشها و راه کارهای نوین در حسابداری و مدیریت، تنکابن.
* Alvareza, I. G., & Ortas, E., (2017). "Corporate environmental sustainability reporting in the context of national cultures: A quantile regression approach", International Business Review, 26 (2), pp. 337–353.
* Barako, D. G, Hancock P, & Izan H. Y, (2006). "Relationship between corporate governance attributes and voluntary disclosures in annual reports: The Kenyan experience". Financial Reporting Regulation and Governance, 5 (1) , pp. 1-25
* Bremser, Wayne G. (2014). "A Growing Interest in Sustainability Paving the Way for the Next Generation of CPAs''. March. THE CPA JOURNAL, pp. 15-17.
* Cooke T.E. (1989). "Voluntary corporate disclosure by Swedish companies", Journal of International Financial Management and Accounting, 1 (2), pp. 171–195.
* Clement, Ronald W., (2005). "The lessons from stakeholder theory for U.S. business leadersB", Business Horizons, 48, pp.255—264.
* Deloitte Touche Tohmatsu, (2006). "Deloitte Sustainability Reporting Scorecard", Global Environment and Sustainability Services Group, Available at: http://www.deloitte.com.
* Donnelly, R. & Mulcahy, M. (2008). "Board Structure, Ownership, and Voluntary Disclosure in Ireland". Corporate Governance: An International Review, 16, pp.416–42
* Eng, L. and Mak. Y. (2003). "Corporate governance and voluntary disclosure. Journal of Accounting and Public Policy; 22, pp. 325-345
* Farneti, Federica & Guthrie, James, (2009); Sustainability reporting by Australian public sector organizations: Why they report", Accounting Forum 33, pp. 89–98.
* Ghazali, N. A. M., & Weetman, P. (2006). "Perpetuating traditional influences: voluntary disclosure in Malaysia following the economic crisis". Journal of International Accounting, Auditing and Taxation, 15, pp. 226-248.
* Gelb, D. S. (2000). "Managerial ownership and accounting disclosure: an empirical study". Review of Quantitative Finance and Accounting, 15, pp.169-185
* Huafang, X., & Jianguo, Y. (2007). "Ownership structure, board composition and corporate voluntary disclosure: Evidence from listed companies in China". Managerial Auditing Journal, 22(6), pp. 604-619.
* Jeffers, A. E., Beixin, L., Silvia R., and Laurence A. D. (2014). "Is It Time for Companies to Capitalize on Sustainability?". THE CPA JOURNAL. 84 (3), pp. 6-17.
* Juhmani, Omar (2013). "Ownership Structure and Corporate Voluntary Disclosure: Evidence from Bahrain". International Journal of Accounting and Financial Reporting, 3 (2). pp. 133-148.
* Kraten, M. (2014); "Sustainability The Accounting Perspective". March. THE CPA JOURNAL. pp. 11-14.
* Lamberton, Geoff. (2005). "Sustainability accounting-a brief history and conceptual framework". Accounting Forum, 29, pp. 7–26.
* Makhija, A. K., & Patton, J. M. (2004). "The impact of firm ownership structure on voluntary disclosure: empirical evidence from Czech annual reports". The Journal of Business, 77(3), pp. 457-491.
* Malsch, Bertrand (2013). "Politicizing the expertise of the accounting industry in the realm of corporate social responsibility, Accounting", Organizations and Society, 38, pp.149–168.
* Marston, C. & Polei , A. (2004). "Corporate reporting on the internet by German companies". International Journal of Accounting Information Systems, 5, pp. 285–311.
* Samaha, K., Dahawy, K., Hussainey, K. & Stapleton, P. (2012). "The extent of corporate governance disclosure and its determinants in a developing market: The case of Egypt". Advances in Accounting, 28(1), pp. 168-178.
* Shleifer, I. and Vishny, R. W. (1997). "A Survey of Corporate Governance". The Journal of Finance, 52, pp. 737-783.
* Terol, A.B. , Parra, M. A. , & Fernández, V. C., (2016). A model based on Copula Theory for sustainable and social responsible investments, Revista de Contabilidad, 19 (1), January–June, pp. 55–76.
Zourarakis, N. S. (2009); Voluntary disclosure: Evidence from UK. [Online] Available: http://www.efinancialnews.com/story/2010-12-15/walker-transparency-regulation- buyout
_||_* احمد احمدپور، احمد و فرمانبردار، مریم (1394). بررسی ارتباط بین افشای اطلاعات مسئولیت اجتماعی شرکتها و رقابت بازار محصول، فصلنامه حسابداری مالی، سال ۷، شماره ۲۶ ، صص 103-124.
* باغومیان، رافیک و نقدی، سجاد (1392). تأثیر ساز و کارهای حاکمیت شرکتی بر میزان افشای اختیاری در گزارش گری سالانۀ شرکت های پذیرفته شده در بورس اوراق بهادار تهران. مجله دانش حسابداری، سال 5، شماره 16، صص 119-136.
* بهار مقدم، مهدی؛ صادقی، زین العابدین و صفرزاده، ساره (1392). بررسی رابطه مکانیزم‌های حاکمیت شرکتی بر افشای مسئولیت اجتماعی شرکتها، فصلنامه حسابداری مالی، سال ۵، شماره ۲۰، صص 90-107.
* بزرگر، قدرت‌اله و وحید غفاری، (۱۳۸۷). حسابداری و گزارشگری پایداری شرکتها در هزاره سوم. مجله حسابدار، سال 23، شماره ۷ (پیاپی ۲۰۲)، صص ۷۵-86.
* خواجوی، شکراله و اعتمادی جوریابی، مصطفی (1394). مسئولیت اجتماعی شرکتها و گزارشگری آن. فصلنامه حسابداری سلامت، سال 4، شماره 2 (پیاپی 12)، صص 104-123.
* رحیمیان، نظام الدین؛ توکل نیا، اسماعیل و اسدی، زینب (1391). حسابداری مسئولیتهای اجتماعی، مسئولیت اجتماعی و پایداری شرکتها. مجله حسابدار رسمی، شماره 17 (پیاپی 29)، صص 32-40 .
* مشعشعی، محمد و نیککار، بهزاد (1391). نقش حسابداران درپایداری شرکتها باتاکید برچارچوب نظری پایداری فدراسیون بین المللی حسابداران، مجموعه مقالات اولین همایش منطقه ای پژوهشها و راه کارهای نوین در حسابداری و مدیریت، تنکابن.
* Alvareza, I. G., & Ortas, E., (2017). "Corporate environmental sustainability reporting in the context of national cultures: A quantile regression approach", International Business Review, 26 (2), pp. 337–353.
* Barako, D. G, Hancock P, & Izan H. Y, (2006). "Relationship between corporate governance attributes and voluntary disclosures in annual reports: The Kenyan experience". Financial Reporting Regulation and Governance, 5 (1) , pp. 1-25
* Bremser, Wayne G. (2014). "A Growing Interest in Sustainability Paving the Way for the Next Generation of CPAs''. March. THE CPA JOURNAL, pp. 15-17.
* Cooke T.E. (1989). "Voluntary corporate disclosure by Swedish companies", Journal of International Financial Management and Accounting, 1 (2), pp. 171–195.
* Clement, Ronald W., (2005). "The lessons from stakeholder theory for U.S. business leadersB", Business Horizons, 48, pp.255—264.
* Deloitte Touche Tohmatsu, (2006). "Deloitte Sustainability Reporting Scorecard", Global Environment and Sustainability Services Group, Available at: http://www.deloitte.com.
* Donnelly, R. & Mulcahy, M. (2008). "Board Structure, Ownership, and Voluntary Disclosure in Ireland". Corporate Governance: An International Review, 16, pp.416–42
* Eng, L. and Mak. Y. (2003). "Corporate governance and voluntary disclosure. Journal of Accounting and Public Policy; 22, pp. 325-345
* Farneti, Federica & Guthrie, James, (2009); Sustainability reporting by Australian public sector organizations: Why they report", Accounting Forum 33, pp. 89–98.
* Ghazali, N. A. M., & Weetman, P. (2006). "Perpetuating traditional influences: voluntary disclosure in Malaysia following the economic crisis". Journal of International Accounting, Auditing and Taxation, 15, pp. 226-248.
* Gelb, D. S. (2000). "Managerial ownership and accounting disclosure: an empirical study". Review of Quantitative Finance and Accounting, 15, pp.169-185
* Huafang, X., & Jianguo, Y. (2007). "Ownership structure, board composition and corporate voluntary disclosure: Evidence from listed companies in China". Managerial Auditing Journal, 22(6), pp. 604-619.
* Jeffers, A. E., Beixin, L., Silvia R., and Laurence A. D. (2014). "Is It Time for Companies to Capitalize on Sustainability?". THE CPA JOURNAL. 84 (3), pp. 6-17.
* Juhmani, Omar (2013). "Ownership Structure and Corporate Voluntary Disclosure: Evidence from Bahrain". International Journal of Accounting and Financial Reporting, 3 (2). pp. 133-148.
* Kraten, M. (2014); "Sustainability The Accounting Perspective". March. THE CPA JOURNAL. pp. 11-14.
* Lamberton, Geoff. (2005). "Sustainability accounting-a brief history and conceptual framework". Accounting Forum, 29, pp. 7–26.
* Makhija, A. K., & Patton, J. M. (2004). "The impact of firm ownership structure on voluntary disclosure: empirical evidence from Czech annual reports". The Journal of Business, 77(3), pp. 457-491.
* Malsch, Bertrand (2013). "Politicizing the expertise of the accounting industry in the realm of corporate social responsibility, Accounting", Organizations and Society, 38, pp.149–168.
* Marston, C. & Polei , A. (2004). "Corporate reporting on the internet by German companies". International Journal of Accounting Information Systems, 5, pp. 285–311.
* Samaha, K., Dahawy, K., Hussainey, K. & Stapleton, P. (2012). "The extent of corporate governance disclosure and its determinants in a developing market: The case of Egypt". Advances in Accounting, 28(1), pp. 168-178.
* Shleifer, I. and Vishny, R. W. (1997). "A Survey of Corporate Governance". The Journal of Finance, 52, pp. 737-783.
* Terol, A.B. , Parra, M. A. , & Fernández, V. C., (2016). A model based on Copula Theory for sustainable and social responsible investments, Revista de Contabilidad, 19 (1), January–June, pp. 55–76.
Zourarakis, N. S. (2009); Voluntary disclosure: Evidence from UK. [Online] Available: http://www.efinancialnews.com/story/2010-12-15/walker-transparency-regulation- buyout