Articlediamond2025

The Impact of Firm Age on Independent Audit Committee and Voluntary Disclosure Quality

10 citations0/0 files storedAfrican Journal Of Applied Research

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Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting Corporate Governance and Financial Management

Abstract

Purpose: This research explores to what extent Independent Audit Committees impact Voluntary Disclosure and studies whether a firm's age moderates this relationship in developing economies. Design/Methodology/Approach: The research employs a longitudinal approach, examining data from 2009 to 2021. The Durbin-Wu-Hausman test was used to assess the existence of endogeneity in the regression model, and a multicollinearity test was conducted to evaluate the level of correlation between independent variables in regression models to ensure the validity and stability of the results. Findings: The regression analysis demonstrates a positive and significant relationship between the existence of Independent Audit Committees (IAC) and Voluntary Disclosure (VD). However, the study outcome showed that the interlinkage term between IAC and a firm's age was not statistically significant, implying that firm age immaterially alters the importance of audit committees in voluntary disclosure practices. Research Limitation: The study focused only on three African countries. Future research might look at other African countries Practical Implication: The study highlights the important function of IACs in improving transparency and promoting trust in financial reporting, particularly in markets with less regulatory oversight. Understanding factors that increase a company’s disclosure is crucial for the success of the global market and economy. Social Implication: This research's findings will support transparency in reporting, reduce information asymmetry, increase sustainability reporting, and increase investors' confidence in a company’s financial and social reporting. Originality/ Value: The research's novelty is bridging the gap in the literature by studying the influence of firm age on voluntary disclosure.

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References

2011External Control of Organizations: Resource Dependence Perspective 1979The External Control of Organizations: A Resource Dependence Perspective 2020Board gender diversity and corporate environmental performance: The moderating role of family and dual‐class majority ownership structures 2019Coordinating technological progress and environmental regulation in CO2 mitigation: The optimal levels for OECD countries & emerging economies 2014[A comparison of convenience sampling and purposive sampling].2021Corporate uptake of the Sustainable Development Goals: Mere greenwashing or an advent of institutional change?2016Audited Financial Reporting and Voluntary Disclosure of Corporate Social Responsibility (CSR) Reports 2020Corporate Governance Configurations and Corporate Social Responsibility Disclosure: Qualitative Comparative Analysis of Audit Committee and Board characteristics

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