THE IMPACT OF OWNERSHIP STRUCTURE ON VOLUNTARY CORPORATE DISCLOSURE IN ANNUAL REPORTS: EVIDENCE FROM FIJI

The extent of voluntary corporate disclosure by companies in annual reports in recent years has increased due to various factors. A number of prior studies examined the relationship between ownership concentration and voluntary corporate disclosure. Their findings suggest there is less voluntary corporate disclosure in family owned and high shareholder concentrated firms. On the other hand, companies with low shareholder concentration are likely to have more voluntary corporate disclosure because of the principal to agent relationship. Though studies have examined the impact of ownership structure on the extent of voluntary disclosure, there is still a need to investigate the issue in the Pacific Island countries, such as Fiji. The ownership structure of the companies in Fiji is highly concentrated. This paper examines the relationship between ownership structure and the extent of voluntary corporate disclosure in annual reports of listed companies in Fiji. A content analysis approach suggests how the ownership structure affects the extent of voluntary corporate disclosure in Fiji.