The moderating effect of corporate governance on readability of the chairman's statement: an analysis of Jordanian listed companies

Author:

Gutiérrez Ponce HereniaORCID,Chamizo González JuliánORCID,Al-Mohareb ManarORCID

Abstract

AbstractDue to the novelty of corporate governance rules in emerging economies, which could impact management policies and readability of the statement by the chairman of the Board of Directors, academics and companies have analyzed the moderating role of corporate governance in many regional development issues. This study investigates the moderating role of corporate governance in readability of the chairman's statement and firm performance. It also investigates whether the board’s characteristics directly affect chairman's statement readability, as the board’s characteristics were determined to be independence, ownership concentration, and board's accounting expertise, based on Jordan’s Corporate Governance Code (2017). This study uses multiple linear regression analysis to analyze moderation and cause-and-effect relationships between study variables for Jordanian service and manufacturing companies listed on the Amman Stock Exchange, examining 69 companies from 2017 to 2021. The results indicate that corporate governance significantly moderates readability of the chairman's statement and the firm’s performance. They also indicate a statistical relationship between readability of the chairman's statement and characteristics of the board, such as directors’ accounting expertise, independence, and concentration of the board’s ownership. This study has significant implications for stakeholders, including governance policy-makers.

Funder

Universidad Autónoma de Madrid

Publisher

Springer Science and Business Media LLC

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