- Original authors / creators
- Han Sun
- Original publication
- PLOS ONE · Public Library of Science · 2023-11-30
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- CC BY 4.0
© 2023 Han Sun
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https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Article-specific license URL: https://creativecommons.org/licenses/by/4.0/ - Edition changes
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- Adjacent research, not a directly sampled family-office study. Applicability to a family office requires separate assessment. The remaining sections of this article are structured as follows: Part 2 presents an overview of recent literature and theoretical background and puts forward several hypotheses that can be tested to better understand the relationship between variables. The conceptual framework, research design, and methods are detailed in Part 3. Part 4 outlines the study’s findings, while Part 5 encompasses the conclusion, suggestions for further research, limitations, and practical implications. In this study, we collected secondary data from the years 2012–2022 from the annual reports of the firms that are listed in China stock markets. The annual reports of selected firms are downloaded from the Shanghai Stock Exchange (SSE) data portal. The rationale behind selecting this time frame is that during this period, the corporate governance code in China underwent some modifications. The focus of this study is limited to the service and industrial sectors only, while the financial sector is excluded because the financial sector in China is governed by two regulators such as the Central Bank of China and the Securities Exchange Commission. Due to the dual monitoring by these organizations, the financial sector in China strongly follows the code of conduct, hence on that ground, we excluded the financial sector. If we consider the financial sector in our analysis, then our results will be biased. In this way, our study has limitations and advised future research suggestions to the researchers to take separate analyses and make comparisons between these sectors. Corporate governance practices may vary across the world and therefore this study has some limitations and provides future research suggestions on the corporate governance mechanism across different cultures and characteristics. Moreover, environmental factors such as pandemics and war may also affect the reporting quality due to policy uncertainty. Therefore, environmental factors and policy uncertainty should be analyzed with the code of the corporate governance mechanism in future research topics. Moreover, due to missing availability and reliability of the data, this study explains some limitations and provide the future research suggestion on how different ownership structures, such as state ownership, foreign ownership, and institutional ownership, influence reporting quality and corporate governance practices.
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