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Volume :41 Issue : 157 2015      Add To Cart                                                                    Download

Impact of Corporate Governance and Company Characteristics on the Timeliness of Corporate Internet Reporting in Kuwait .

Auther : Dr. Bader A. AL-Shammari - Dr. Mejbel T. AL-Saidi

     This study investigates the relation between several corporate governance and company-specific characteristics and timeliness of corporate Internet reporting by 147 Kuwaiti companies listed on the Kuwait Stock Exchange in 2012. Corporate governance characteristics examined were board size, board composition and role duality. Company-specific variables examined were company size, profitability, leverage, liquidity, ownership structure and industry type. A disclosure index consisting of 11 information items was developed to measure the timeliness of corporate Internet reporting for the selected companies. A multivariate regression analysis was used to test the relationship between corporate governance and company-specific characteristics and the timeliness of corporate Internet reporting. It is found that Kuwaiti listed companies, on average, disclose only 39 percent of the timeliness information items assessed by the timeliness index. The results indicated that disclosure of timely corporate information on companies' websites increases with a smaller board, more non-executive directors, separate individuals for the CEO and the chairman of the board of directors, larger financial companies, and with a greater proportion of shares owned by outsiders. This suggests that corporate governance and company-specific characteristics influence a company's timeliness of corporate Internet reporting behavior, presumably in response to the information asymmetry between management and investors and the resulting agency costs.

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May 18, 2017

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