Accounting Disclosure, Governance Standards and Innovation Activities in Emerging Markets

Zhenxiang Chen, Ming Li, Liang Song, Yanan Xing, Zhaoguo Zhang


We investigate how investor protection resulted from country-level and firm-level governance standards influence the relationship between market disciplines resulted from firm-level accounting disclosure and innovation activities. Employing a sample across 14 emerging markets, evidence confirms that the effects of firm-level accounting disclosure on innovation activities are more important in a country with weaker governance standards and for firm with poor corporate governance. The results suggest that market disciplines can substitute for investor protection.

Full Text:



Copyright (c)

Asian Journal of Finance & Accounting ISSN 1946-052X


Copyright © Macrothink Institute


To make sure that you can receive messages from us, please add the '' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.