The Influences of Participatory Management and Corporate Governance on the Reduction of Financial Information Asymmetry: Evidence from Thailand

• 발행기관: 한국유통과학회
• 저자명: Pannarai LATA
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.11, 853~866쪽, 전체 14쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.11.30

영문 초록

The purposes of this research were: 1) to investigate the effect of participatory management on financial information asymmetry, 2) to investigate the effect of corporate governance on financial information asymmetry, 3) to examine the influences of benefits incentives on financial information asymmetry, and 4) to test the mediating effects of benefits incentive that influences the relationship between participatory management, corporate governance, and financial information asymmetry. The research sample consisted of 388 Thai-listed firms. Data were collected through a survey questionnaire. Descriptive analysis, Multiple Regression Analysis, and Structural Equation Modeling were used for the data analysis. The results revealed: 1) participatory management and participation in evaluation had a negative influence on financial information asymmetry. 2) Corporate governance and the rights of shareholders had a negative influence on financial information asymmetry. 3) Benefits incentive was negatively associated with financial information asymmetry. 4) The model’s influences of participatory management, corporate governance on the reduction of financial information asymmetry through benefits incentive as mediator fit the empirical data (Chi-square = 104.459, df = 84, p = 0.065, GFI = 0.967, RMSEA = 0.025). The variables in the model explained 78.00% and 4.70 % of the variance of benefits incentive and financial information asymmetry, respectively.

목차

1. Introduction

2. Theoretical Foundations

3. Literature Review and Hypotheses Development

4. Research Methods

5. Research Findings

6. Conclusions

References

키워드

Participatory Management Corporate Governance Benefits Incentives Financial Information Asymmetry