{"title":"股权结构对家族企业信息披露质量和信用评级的影响:审计师选择的调节作用","authors":"Jengfang Chen, Ni-Yun Chen, Liyu He, C. Patel","doi":"10.1177/08944865211057854","DOIUrl":null,"url":null,"abstract":"Despite the substantial degree of heterogeneity within family firms, little is known about how their heterogeneity affects firm behavior and the implication for the shareholder–debtholder agency problem. Our study contributes to the literature by examining whether family firms with a higher level of control-ownership divergence would disclose less information and whether Big 4 auditors play a moderating role in mitigating the negative impact of control-ownership divergence on disclosure quality resulting in improved credit ratings. Using data from the emerging economy of Taiwan, we provide support for our three hypotheses. Our contributions will interest family firm owners, researchers, auditors, and policymakers.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"35 1","pages":"140 - 158"},"PeriodicalIF":9.9000,"publicationDate":"2021-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"6","resultStr":"{\"title\":\"The Effect of Ownership Structure on Disclosure Quality and Credit Ratings in Family Firms: The Moderating Role of Auditor Choice\",\"authors\":\"Jengfang Chen, Ni-Yun Chen, Liyu He, C. Patel\",\"doi\":\"10.1177/08944865211057854\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Despite the substantial degree of heterogeneity within family firms, little is known about how their heterogeneity affects firm behavior and the implication for the shareholder–debtholder agency problem. Our study contributes to the literature by examining whether family firms with a higher level of control-ownership divergence would disclose less information and whether Big 4 auditors play a moderating role in mitigating the negative impact of control-ownership divergence on disclosure quality resulting in improved credit ratings. Using data from the emerging economy of Taiwan, we provide support for our three hypotheses. Our contributions will interest family firm owners, researchers, auditors, and policymakers.\",\"PeriodicalId\":51365,\"journal\":{\"name\":\"Family Business Review\",\"volume\":\"35 1\",\"pages\":\"140 - 158\"},\"PeriodicalIF\":9.9000,\"publicationDate\":\"2021-12-07\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"6\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Family Business Review\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://doi.org/10.1177/08944865211057854\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Family Business Review","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/08944865211057854","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
The Effect of Ownership Structure on Disclosure Quality and Credit Ratings in Family Firms: The Moderating Role of Auditor Choice
Despite the substantial degree of heterogeneity within family firms, little is known about how their heterogeneity affects firm behavior and the implication for the shareholder–debtholder agency problem. Our study contributes to the literature by examining whether family firms with a higher level of control-ownership divergence would disclose less information and whether Big 4 auditors play a moderating role in mitigating the negative impact of control-ownership divergence on disclosure quality resulting in improved credit ratings. Using data from the emerging economy of Taiwan, we provide support for our three hypotheses. Our contributions will interest family firm owners, researchers, auditors, and policymakers.
期刊介绍:
Family Business Review (FBR) has been a refereed journal since 1988, serving as the premier scholarly publication dedicated to the study of family-controlled enterprises. It delves into the dynamics of these businesses, encompassing a range of sizes from small to very large. FBR concentrates not only on the entrepreneurial founding generation but also on family enterprises in subsequent generations, including some of the world's oldest companies. The journal also publishes interdisciplinary research covering families of wealth, family foundations, and offices.