The Role of Institutional Investors in Lowering Information Asymmetry: Study on Mandatory Regulation of Integrated Reporting Implementation
Mutoharoh, Najihah N.
Abstract
The purpose of this study is to examine the effect of integrated reporting implementation as a mandatory regulation in reducing information asymmetry, and how the role of institutional investors is related to integrated reporting implementation. The sample of this research was listed companies in Johannesburg Stock Exchange, South Africa, year 2011–2015. The integrated report quality measurement is based on the assessments made by EY, Information asymmetry was measured using the annual average of bid-ask spread and institutional investor measured by the percentage of stock ownership by institution. Using 87 companies (299 firm-year observations), this research proves that the quality of integrated reporting and the proportion of stock ownership by institutional investors is negatively associated with information asymmetry. The result also confirmed the prior prediction that integrated reporting tends to succeed in reducing information asymmetry at firms with a high proportion of institutional investors.
The effect of mandatory CSR disclosure on information asymmetry: Evidence from a quasi-natural experiment in China
Hung M., Shi J., Wang Y.
The economic consequences of increased disclosure
Leuz C., Verrecchia R.E.
No Title
Bhikha V.
Institutional investors and information asymmetry: An event study of self-tender offers
O'Neill M., Swisher J.
Earnings management and investor protection: An international comparison
Leuz C., Nanda D., Wysocki P.D.
Are there monitoring benefits to institutional ownership? Evidence from seasoned equity offerings
D'Mello R., Demiralp I., Schlingemann F.P., Schlingemann F.P., Subramaniam V., D'Mello R., Demiralp I., Schlingemann F.P., Schlingemann F.P., Subramaniam V., D'Mello R., Demiralp I., Schlingemann F.P., Subramaniam V.
The future of financial reporting in Europe: Its role in corporate governance
Richard Baker C., Wallage P.
Institutional investors, information asymmetry and stock market liquidity in France
Ajina A., Ajina A., Lakhal F., Sougne D.
The economic consequences associated with integrated report quality: Early evidence from a mandatory setting
Barth M.E.
Corporate social responsibility performance and information asymmetry
Cho S.Y., Lee C., Pfeiffer Jr. R.J.
Sharma J., Sharma S.K., Singh R.K.
Accounting Research Journal
Moosa R., Ramabulana K.
Journal of Risk and Financial Management
Sharma S.K., Singh R.K.
International Review of Economics and Finance
