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Ali, H., Adegbite, E. and Nguyen, T.H. 
ORCID: 0000-0001-7170-5882,
2022.
Ownership structure and political spending disclosure.
Accounting Forum, 46 (2), pp. 160-190.
ISSN 0155-9982
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Abstract
This study examines the link between ownership structure and political spending disclosure (PSD). We break down ownership into four different groups of shareholders: institutional, insider, governmental and foreign. Using a unique dataset provided by CPA-Zicklin for PSD and a panel dataset from S&P 500 companies between 2015 and 2018, our results reveal that institutional and governmental ownership are positively associated with the level of PSD, while insider ownership is negatively associated with the level of PSD. Additionally, while prior literature mainly investigated how ownership structure influences disclosure practices, we analyse the mechanisms through which ownership characteristics influence PSD. Our cross-sectional tests provide evidence that insider owners exhibit more PSD if they are pursing tax-related lobbying expenses and tax avoidance practices. Additionally, governmental owners demand lower PSD in firms with higher nonfinancial and financial reporting quality. Finally, institutional owners demand more PSD in the case of lower industry concentration. Overall, we conclude that different owners have distinct impacts and preferences on a firm's political strategy and various mechanisms uniquely operationalise the interactions between different owners and political transparency. Through agency theory, our results advance heated debates on PSD – an emerging, yet hitherto less examined, category of voluntary disclosure.
| Item Type: | Journal article | ||||||
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| Publication Title: | Accounting Forum | ||||||
| Creators: | Ali, H., Adegbite, E. and Nguyen, T.H. | ||||||
| Publisher: | Taylor & Francis | ||||||
| Date: | 2022 | ||||||
| Volume: | 46 | ||||||
| Number: | 2 | ||||||
| ISSN: | 0155-9982 | ||||||
| Identifiers: |
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| Rights: | © 2021 the author(s). Published by Informa UK Limited, trading as Taylor & Francis Group. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way. | ||||||
| Divisions: | Schools > Nottingham Business School | ||||||
| Record created by: | Jonathan Gallacher | ||||||
| Date Added: | 28 Nov 2024 17:06 | ||||||
| Last Modified: | 28 Nov 2024 17:06 | ||||||
| URI: | https://irep.ntu.ac.uk/id/eprint/52669 |
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