Board leadership, outside directors' expertise and voluntary corporate disclosures

Research output: Journal Publications and ReviewsRGC 21 - Publication in refereed journalpeer-review

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Original languageEnglish
Pages (from-to)351-379
Journal / PublicationJournal of Accounting and Public Policy
Issue number5
Publication statusPublished - Sept 2004


This study examines the linkages between board leadership structure in terms of CEO duality (CEOs who jointly serve as board chairs), the proportion of expert outside directors on the board (PENEDs) and voluntary corporate disclosures. Regression analyses of observations from 385 Hong Kong companies show that CEO duality is associated with lower levels of voluntary corporate disclosures. However, the negative CEO duality/voluntary disclosure association is weaker for firms with higher PENEDs suggesting that the expertise of non-executive directors (NEDs) moderates the CEO duality/corporate disclosures relationship. © 2004 Elsevier Inc. All rights reserved.

Research Area(s)

  • CEO duality, Corporate disclosures, Corporate governance, Non-executive director expertise