Jason Zezhong Xiao
University of Wales Cardiff
He Yang
Renmin University of China
Chee W Chow
San Diego State University
Abstract: This paper investigates the extent and determinants of voluntary Internet-based corporate disclosures (ICD) by listed Chinese companies. Eight hypotheses based on theories of innovation diffusion and voluntary disclosure are tested with data from the largest 300 listed companies. We find that the extent of voluntary ICD is positively and significantly related to firm size, and that the presentation format is associated with the employment of a Big 5 international audit firm and whether the firm is in the information technology industry. We also find voluntary ICD to be insignificantly associated with domestic private ownership and foreign ownership, but positively with legal person ownership. Foreign ownership has a positive and significant effect on whether a firm has English Web pages. Our findings suggest that different dimensions of ICD are related to different mixes of factors and that a number of issues deserve attention from the parties involved in Chinese companiesÂ’ ICD.
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