CORPORATE VOLUNTARY DISCLOSURES AND BOARD INDEPENDENCE OF INDIAN COMPANIES

Nidhi Sharma Sahore, Anshul Verma

DOI:10.22495/cgsrv3i1p4

Abstract

Annual reports apart from being a means of communication are used as a vehicle of building and improving corporate image. Even the government and its institutions presiding over the corporate sector emphasize on additional disclosures related to corporate governance, corporate social responsibility, corporate sustainability etc. apart from more voluntary financial disclosures to enhance the investor confidence at large. There are a number of studies which argue, corporate governance and its mechanisms or proxies act as catalyst for increased voluntary disclosures while there are a few studies which negate or nullify its role in enhancing voluntary disclosures. Hence it is important at this juncture to find how it is currently placed in Indian context. The findings of this study suggest the lowering importance of proportion of independent directors in the boards of the companies. The variation in the extent of corporate disclosures over a longer period of time is not caused much due to board independence. However the role of board independence and its consistently positive association with voluntary financial and voluntary non-financial disclosures is an encouraging precursor for corporate firms and their varied stakeholders.

Keywords: Voluntary Disclosures, Corporate Governance, Board Independence, Financial Disclosures, Non-financial Disclosures

JEL Classification: G00, G18, G28, G38

Received: 30.01.2019

Accepted: 01.04.2019

Published online: 09.04.2019

How to cite this paper: Sahore, N. S., & Verma, A. (2019). Corporate voluntary disclosures and board independence of Indian companies. Corporate Governance and Sustainability Review, 3(1), 42-50. http://doi.org/10.22495/cgsrv3i1p4



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