An Assessment of Factors Influencing the Level of Corporate Governance Disclosure among Baltic and Scandinavian Listed Companies

The aim of this diploma paper is to assess the factors that influence the level of corporate governance disclosure among the companies, listed in Baltic and Scandinavian stock exchanges. The diploma paper consists of three parts. In the first part of the diploma paper the theoretical aspects of corporate governance are analyzed: the concept and the key theories of corporate governance are explained; regulation on corporate governance in the European Union is overviewed; and the importance of corporate governance disclosure and factors influencing the level of such disclosure are discussed. The second part of the diploma paper presents the methodology of the empirical research. In this part the research hypotheses are explained; the research methods, scope, and information sources are presented; and the limitations of the research are discussed. The third part of the diploma paper is dedicated to the presentation and discussion of the research results. Results of the analysis revealed that Scandinavian listed companies disclose more corporate governance information compared with Baltic listed companies. Analysis identified that company’s size, board independence, large audit firms, and audit committee have a positive statistically significant influence on the level of corporate governance disclosure. Company’s profitability does not have a statistically significant influence on corporate governance disclosure.