Yes / The purpose of this paper is to investigate the effect of corporate board attributes, ownership structure and firm-level characteristics on both corporate mandatory and voluntary disclosure behaviour. Multivariate regression techniques are used to estimate the effect of corporate board and ownership structures on mandatory and voluntary disclosures of a sample of Libyan listed and non-listed firms between 2006 and 2010. First, the authors find that board size, board composition, the frequency of board meetings and the presence of an audit committee have an impact on the level of corporate disclosure. Second, results indicate that ownership structures have a non-linear effect on the level of corporate disclosure. Finally, the authors document that firm age, liquidity, listing status, industry type and auditor type are positively associated with the level of corporate disclosure. Future research could investigate disclosure practices using other channels of corporate disclosure media, such as corporate websites. Useful insights may be offered also by future studies by conducting in-depth interviews with corporate managers, directors and owners regarding these issues. The evidence relating to the important role that corporate governance mechanisms play in shaping the expectations relating to the level of corporate voluntary and/or mandatory disclosures may be useful in informing investor decisions, as well as future policy and regulatory initiatives. This paper contributes to the existing literature by examining the governance-disclosure nexus relating to both mandatory and voluntary disclosures in both listed and non-listed firms operating in a developing country setting.

The thesis deals with financial accounting and taxation; i.e. areas with increased risk of unethical behaviour. It presents and critically evaluates the measures introduced by the European Union, the Organisation for Economic Co-operation and Development (OECD) and the authors of Taxparency project - the nongovernmental organisation Transparency International Česká republika and Lexperanto association. The introductory chapters of the thesis offer a brief excursion into the realms of philosophy, law and psychology. Their purpose is to provide a comprehensive summary of the most important findings from these disciplines for better understanding of the meaning and fundamentals of ethics. Subsequently, three key areas of financial accounting and taxation are discussed - non-transparent ownership structures, virtual offices and transfer prices - with the objective to determine the motives of entrepreneurs to use these practices. LuxLeaks case is mentioned as a practical example of unethical behaviour of entrepreneurs, tax advisers as well as of civil servants. The conclusion outlines the Taxparency project. The aim of the thesis is not only to introduce but also critically evaluate the project. Based on the results of a questionnaire survey, the possibilities of the project implementation in the conditions of the Czech Republic are analysed. The official websites of individual institutions and organisations became the main information source for the thesis.

企業的創新已經進入到應用專利權進行策略佈局的階段，因此綜合研發投入和專利產出的創新效率便成為關注企業競爭力的重要指標。而影響創新效率的關鍵在於企業決策者的策略意圖，但由於新興國家法規體制尚不完備，與決策者相關的公司治理因素成為創新效率的核心議題。為深入瞭解其中的連結，本研究以中國的上市公司為研究對象，並從外資投資者的角度探討股權結構與創新效率之間的關係。研究結果發現外資股對於創新效率有正向影響，若與國有股同時存在，原有的正向影響則會減弱；但當國有股私有化的程度愈高，外資股所受的干擾降低，對創新效率的正向影響便愈大；另外法人股的存在則更能增進外資股提升企業的創新效率。 / Nowadays, enterprises regard patents as a key strategy to enhance its innovation capability. Therefore, innovative efficiency (IE), measured as the relation between R&D expenditures and patents granted, becomes an important index to observe corporate competitiveness. Ownership structures could affect the outcome of IE as shareholders are ultimate decision makers. However, this may be a more serious issue in emerging countries, as they generally have weak legal environments and shareholders do not fully understand the details of firms’ innovation efforts. This study explores this issue based on a sample of Chinese listed companies and examines the extent to which ownership structures, especially foreign shareholders, are associated with the IE of publicly listed firms in China. The results indicate that IE is positively associated with the foreign shareholdings, while this relation turns negative when there are state shareholdings. As state shareholding have negative effects on IE and could interfere the role of foreign shareholdings in improving a company’s innovation activities, the results also suggest that the level of state shareholding privatization improves the association between IE and foreign shareholding. Moreover, the relation between IE and the foreign shareholding is more pronounced if institutional shareholdings exist.

從企業績效來看，在需持續創新、風險與產業技術複雜性較高的電子業，家族企業若聘用專業經理人經營，企業績效較差，反之，在產業技術變化性與風險較低的傳統產業，家族企業聘用專業經理人經營，反而企業績效較佳，這顯示，在面臨高度風險的環境時，家族企業中經營權與所有權的分離才會導致代理問題。同樣地，在電子業中，家族企業的控制權與所有權分離程度越高，企業績效越差，反之，在傳統產業中，家族企業控制權與所有權分離程度越高，企業績效反而越佳。這個結果顯示，在需持續創新、風險與產業技術複雜性較高的產業中，家族企業必須同時面臨兩種代理問題。 從企業對創新這類風險性投資的策略來看，本論文的研究結果顯示，經營權與所有權合一，企業所有者有能力及意願監督經營者，這將有助於企業投入較多的創新。反之，在控制權與所有權分離的情況下，因為投資的大部分是其他人的錢，企業的最終控制者能將創新的風險分散給外部股東，而較有意願投入創新。而家族控制者本身，因其規避風險的特質，而對上述兩類對創新有正向影響的治理機制有負向的調節效果（moderate）。但對家族成員而言，創新有助於企業的長期競爭優勢為了家族的永續發展，在經營企業上應該會採取長遠觀點（long-term perspective），而有意願投入創新，為了解開這個難題，本研究進一步將創新分為利用型創新（exploitative innovation）及開創型創新（explorative innovation）兩類，分析結果發現，家族企業雖然投入創新的數目較少，但在比例上有較多是較開創的創新，這個結果顯示，家族企業雖然害怕風險，但相對於非家族企業仍較具有長期經營的觀點並較具開創性。 / This dissertation concerns the effects of different governance structures on firms’ performance and innovativeness in business groups. In the first study, the ambivalent needs of control and growth of family firms in business group are explored. This study finds that in general, the excess control rights and controlling shareholdings will increase firms’ performance. In addition, family firms with such control structures will perform better in non-electronic industry while worse in electronic industry. Lastly, active control, namely family members control management and chairman at the same time, will perform better in electronic industry while worse in non-electronic industry. The second study focuses on comparing family and non-family group affiliated firms’ incentives to do innovations in different governance structures. Adopting behavior agent model, we propose that although family group affiliated firms are less innovativeness than non-family group affiliated firms in general, they have larger share of exploratory innovation than non-family firms. The empirical results support our hypotheses. However, in contrast to traditional agency perspective, the separations between ownership and control rights facilitate firms’ innovativeness. This finding may originate in pyramid ownership structure.

[ES] Las cooperativas son asociaciones de personas que se unen voluntariamente para satisfacer necesidades económicas, sociales y culturales y se distinguen de las empresas de capital (IOF) porque abordan las necesidades comunes de los miembros en relación con bienes y servicios asequibles. Las cooperativas son gestionadas democráticamente por socios que son propietarios y cumplen también el rol de proveedores, trabajadores o clientes. Hoy en día, la membresía de las cooperativas a nivel mundial asciende a mil millones de miembros que operan en varias industrias. La literatura existente refleja principalmente la perspectiva de las IOF y se centra en los determinantes impulsados por el mercado para la presentación de informes que no necesariamente reflejan la identidad cooperativa como determinante. Los marcos de presentación de informes corporativos existentes se centran predominantemente en las necesidades de presentación de informes de las IOF y se han configurado de acuerdo con las necesidades corporativas y del mercado financiero, sin reconocer aspectos clave de la identidad cooperativa. Además de estas deficiencias, la identidad de las cooperativas se ha convertido recientemente en un tema de debate entre diversas partes interesadas. Se argumenta que las cooperativas tienen un problema de gestión de imagen. También se insta a las cooperativas a aumentar la conciencia pública sobre sus contribuciones. Por lo tanto, ha llegado el momento de revisar la identidad cooperativa en un mundo moderno. Para arrojar luz sobre las prácticas de presentación de informes existentes de las cooperativas y como punto de partida para mejorar la conciencia pública y la imagen de las cooperativas, el estudio investigó el nivel de adopción y los determinantes para la adopción de informes corporativos de las 300 cooperativas más grandes del mundo. Para una muestra de 78 cooperativas, todos los informes corporativos publicados en línea, para el año 2017, fueron recopilados y codificados manualmente. Para establecer el nivel de adopción se realizó un análisis de contenido y para identificar los determinantes se realizaron análisis de regresión lineal, regresión logística binaria y regresión ordinal. El análisis de contenido distinguió entre los tipos de informes corporativos. Para el nivel de adopción, el estudio distinguió además entre informes publicados elaborados sin un marco de información, informes basados en un marco y la aplicación de un marco con revisión externa. Los reultados indicaron mejoras potenciales para el nivel de adopción de los diferentes tipos de informes. Por ejemplo, la presentación de informes integrados y de gestión son adoptados por una minoría de cooperativas sin ninguna revisión externa sobre los informes integrados. Para los determinantes de la adopción de informes, el estudio distinguió entre determinantes generales y determinantes idiosincrásicos de la naturaleza cooperativa. Los resultados indicaron que las cooperativas en países orientados a favor de las partes interesadas, las cooperativas más grandes y las cooperativas con instrumentos cotizados, así como las cooperativas que operan en un sector con un mayor impacto en el medio ambiente, tienen más probabilidades de adoptar la presentación de informes corporativos. Los determinantes idiosincrásicos de la naturaleza cooperativa incluyen la identidad cooperativa y la distribución de los resultados. Las cooperativas que comunican su identidad de manera más asertiva en la carta del presidente a sus miembros tienen más probabilidades de adoptar informes anuales. Las cooperativas que limitan la distribución de resultados sólo a sus miembros tienen más probabilidades de adoptar informes de gestión formales. / [CA] Les cooperatives són associacions de persones que s'unixen voluntàriament per a satisfer necessitats econòmiques, socials i culturals i es distingixen de les societats de capital (IOF) perquè aborden les necessitats comuns dels membres en relació amb béns i servicis assequibles. Les cooperatives són gestionades democràticament per socis que són propietaris i complixen també el rol de proveïdors, treballadors o clients. Hui dia, la filiació de les cooperatives a nivell mundial ascendix a mil milions de membres que operen en diverses indústries. La literatura existent reflectix principalment la perspectiva de les IOF i se centra en els determinants impulsats pel mercat per a la presentació d'informes que no necessàriament reflectixen la identitat cooperativa com a determinant. Els marcs de presentació d'informes corporatius existents se centren predominantment en les necessitats de presentació d'informes de les IOF i s'han configurat d'acord amb les necessitats corporatives i del mercat financer, sense reconéixer aspectes clau de la identitat cooperativa. A més d'estes deficiències, la identitat de les cooperatives s'ha convertit recentment en un tema de debat entre diverses parts interessades. S'argumenta que les cooperatives tenen un problema de gestió d'imatge. També s'insta les cooperatives a augmentar la consciència pública sobre les seues contribucions. Per tant, ha arribat el moment de revisar la identitat cooperativa en un món modern. Per a llançar llum sobre les pràctiques de presentació d'informes existents de les cooperatives i com a punt de partida per a millorar la consciència pública i la imatge de les cooperatives, l'estudi va investigar el nivell d'adopció i els determinants per a l'adopció d'informes corporatius de les 300 cooperatives més grans del món. Per a una mostra de 78 cooperatives, tots els informes corporatius publicats en línia, per a l'any 2017, van ser recopilats i codificats manualment. Per a establir el nivell d'adopció es va realitzar una anàlisi de contingut i per a identificar els determinants es van realitzar anàlisis de regressió lineal, regressió logística binària i regressió ordinal. L'anàlisi de contingut va distingir entre els tipus d'informes corporatius. Per al nivell d'adopció, l'estudi va distingir a més entre informes publicats sense marc, informes basats en un marc i l'aplicació d'un marc amb revisió externa. Les troballes van indicar millores potencials per al nivell d'adopció dels diferents tipus d'informes. Per exemple, la presentació d'informes integrats i de gestió són adoptats per una minoria de cooperatives sense cap revisió externa sobre els informes integrats. Per als determinants de l'adopció d'informes, l'estudi va distingir entre determinants comuns i determinants idiosincràtics de la naturalesa cooperativa. Els resultats van indicar que les cooperatives en països orientats a favor de les parts interessades, les cooperatives més grans i les cooperatives amb instruments cotizats, així com les cooperatives que operen en un sector amb un major impacte en el medi ambient, tenen més probabilitats d'adoptar la presentació d'informes corporatius. Els determinants idiosincràtics de la naturalesa cooperativa inclouen la identitat cooperativa i la distribució de resultats. Les cooperatives que comuniquen la seua identitat de manera més assertiva en la carta del president als seus membres tenen més probabilitats d'adoptar informes anuals. Les cooperatives que limiten la distribució dels resultats només als seus membres tenen més probabilitats d'adoptar informes de gestió formals. / [EN] Cooperatives are associations of persons voluntary uniting for economic, social and cultural needs and are distinguished from investor-owned firms (IOFs), as they are addressing the communal need of members relating to affordable goods and services. Cooperatives are democratically managed by members who are owners also fulfilling the role as suppliers, workers or customers. Today, cooperative membership globally amounts to one billion members operating in several industries. Existing literature mainly reflects the perspective of IOFs and focuses on market-driven determinants for reporting that do not necessarily reflect cooperative identity as a determinant. Existing corporate reporting frameworks are predominantly based on the reporting needs of IOFs and have been shaped according to corporate and financial market needs, not acknowledging key aspects of cooperative identity. In addition to these shortcomings, the identity of cooperatives recently become a topic of debate amongst various stakeholders. It is argued that cooperatives have an image management problem. Cooperatives are also urged to increase the public awareness about their benefits. The time has therefore come to revisit cooperative identity in a modern world. To shed light on the existing reporting practices of cooperatives and as a point of departure to improve on cooperatives' public awareness and image, the study investigated the level of adoption and determinants for the adoption of corporate reporting of the global largest 300 cooperatives in the world. For a sample of 78 cooperatives, all corporate reports published online, for the 2017 year of reporting, were hand collected and coded. To establish the level of adoption, a content analysis was performed and to identify the determinants, linear regression, binary logistic regression and ordinal regression analysis were performed. The content analysis distinguished between the types of corporate reports. For the level of adoption, the study further distinguished between reports published based on no framework, reports based on a framework and the application of a framework with external assurance. The findings indicated potential improvements for the level of adoption for the different types of reports. For example, integrated reporting and management reporting are adopted by the minority of cooperatives with no assurance on integrated reporting. For the determinants of adoption of reporting, the study distinguished between common determinants and determinants idiosyncratic to cooperative nature. Results indicated that cooperatives in countries orientated in favour of stakeholders, larger cooperatives and cooperatives with listed instruments, as well as cooperatives operating in a sector with a larger impact on the environment, are more likely to adopt corporate reporting. Determinants idiosyncratic to cooperative nature include cooperative identity and distribution of profits. Cooperatives more assertively communicating their identity in the president's letter to members, are more likely to adopt annual reporting. Cooperatives who limit profit distribution to members only, are more likely to adopt formal management reporting. / Fouché, KB. (2024). The Corporate Reporting Landscape and Identity of Cooperative Enterprises [Tesis doctoral]. Universitat Politècnica de València. https://doi.org/10.4995/Thesis/10251/213882