文章基本信息

标题：Ownership composition and intellectual capital disclosure: Indonesia as a case study
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作者：Yana Ulfah ; Rizky Yudaruddin ; Yanzil Azizil Yudaruddin 等
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2021
卷号：18
期号：2
页码：37-47
DOI：10.21511/imfi.18(2).2021.04
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：This study explores whether ownership structure (comprising ownership concentration, foreign, managerial, and institutional ownership) affects intellectual capital disclosure (ICD) in Southeast Asia’s largest stock market and Indonesia’s emerging economy. The sample includes 323 public firms listed on the Indonesia Stock Exchange (IDX) from seven industries between 2008 and 2017, or 2,634 firm-year observations. Data were analyzed using the ordinary least squares (OLS) regression with robust standard errors. The results show that ICD is positively related to ownership concentration. A negative and substantial relationship was found for both foreign and managerial ownerships, while the institutional ownership variable had a negative and insignificant impact. Overall, the results show robust conclusions regarding the impact of the ownership structure on ICD. The findings of this investigation could be taken into account by capital market authorities such as the Indonesia Stock Exchange (IDX) to raise awareness of intellectual capital and improve ICD practices.
关键词：ownership concentration;managerial ownership;foreign ownership;institutional ownership;intellectual capital disclosure;Indonesia