To confront with the increasingly corporate disclosure frauds that perplex investors’ investment decision-making, the close attention has been paid to the study of voluntary disclosure.  Enormous studies has evidenced that audit committee characteristic is crucial to the extent of voluntary disclosure. …

Business leaders increasingly face pressure from stakeholders to be transparent. There appears however little consensus on the risks and payoffs of disclosing vital information such as corporate strategy. To fill this gap, this study analyzes firm-specific determinants and organisational outcomes of …