International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Open Access | Fully Refereed | Peer Reviewed

ISSN: 2319-7064


Downloads: 136

Research Paper | Finance | China | Volume 8 Issue 9, September 2019


Corporate Governance and the Voluntary Disclosure of Intellectual Capital in a Period of Financial Crisis: Case of Selected Listed Companies in Zimbabwe

Faith Tandi, Junjuan Hu, Xiaoling He, Yongzhen Zhu


Abstract: This research paper focused on corporate governance and voluntary disclosure of intellectual capital in a period of financial crisis. It explores the cross- sectional effect of the industry, company size, gearing, listing status and corporate governance mechanisms on the extent of voluntary disclosure of intellectual capital reporting in 64 companies listed at the Zimbabwe Stock Exchange for the period from 2017-2018. The aim was to determine the extent of IC reporting in corporate reports in the context of Zimbabwe in a period of financial crisis and assess if there is a relationship between capital employed, company turnover, multiple listing, gearing, profit before taxation, proportion of non-executive directors and the extent of intellectual capital reporting in corporate reports. The extent of intellectual capital reporting was measured by a disclosure index based on the intellectual capital attributes included in the narratives and illustrations of the annual reports. The results indicate that voluntary disclosure mainly occurs within the confines of Relational Capital attributes. Company turnover, multiple listing, gearing and committee financial expertise are relevant factors in explaining the differences in reporting behavior amongst Zimbabwean companies. This was based on the prediction that the agency costs can be reduced through the voluntary disclosure of intellectual capital which may also mean that the benefits of signaling outweighs the competitive costs that are prevalent in some industries. This research study also involves panel regression analysis with Random and Fixed effect for the years 2016 to 2018 and the empirical findings on the relationship between capital employed, company turnover, multiple listing, gearing, profit before taxation, proportion of non-executive directors and the extent of intellectual capital reporting in corporate reports of Zimbabwe Stock. VDIC is significantly and positively contributing towards the success of the firms under study for about 0.39 % in the case of common effect model and 0.13 % both in the cases of RE and FE models.


Keywords: Corporate governance, Financial risk, Industry, Intellectual Capital IC, Listed Companies, Voluntary disclosure


Edition: Volume 8 Issue 9, September 2019,


Pages: 1783 - 1790


How to Cite this Article?

Faith Tandi, Junjuan Hu, Xiaoling He, Yongzhen Zhu, "Corporate Governance and the Voluntary Disclosure of Intellectual Capital in a Period of Financial Crisis: Case of Selected Listed Companies in Zimbabwe", International Journal of Science and Research (IJSR), https://www.ijsr.net/get_abstract.php?paper_id=25091902, Volume 8 Issue 9, September 2019, 1783 - 1790

How to Share this Article?

Enter Your Email Address


Similar Articles with Keyword 'Corporate governance'

Downloads: 4 | Weekly Hits: ⮙1 | Monthly Hits: ⮙1

Research Paper, Finance, Nigeria, Volume 10 Issue 7, July 2021

Pages: 1485 - 1497

Internal Control System and Return on Assets of Manufacturing Companies Listed in Nigeria

Ogbebor Peter I., Cole Abimbola A., Akinyemi Akindimeji

Share this Article

Downloads: 37

Research Paper, Finance, China, Volume 10 Issue 3, March 2021

Pages: 380 - 384

Study on the Relationship between Institutional Investors and ESG

Li Yujie

Share this Article

Similar Articles with Keyword 'Financial risk'

Downloads: 72

Masters Thesis, Finance, China, Volume 9 Issue 10, October 2020

Pages: 772 - 777

The Impact of the Financialization of Entity Enterprises on the Financial Risks of Enterprises

Ying Wu

Share this Article

Downloads: 95

Research Paper, Finance, Kenya, Volume 10 Issue 2, February 2021

Pages: 142 - 150

Financial Risk Management Practices and Business Sustainability: Empirical Findings from Private Hospitals in Nairobi, Kenya

Ogutu Amos Washika, Prof. David Kiragu, Dr. Anthony Ngunyi, Dr. Mohammed Shano

Share this Article

Similar Articles with Keyword 'Industry'

Downloads: 15 | Weekly Hits: ⮙2 | Monthly Hits: ⮙4

Research Paper, Finance, India, Volume 10 Issue 5, May 2021

Pages: 863 - 872

An Analysis of Gaming Industry in India

Kushal Dey

Share this Article

Downloads: 61

Research Paper, Finance, Kenya, Volume 9 Issue 3, March 2020

Pages: 1221 - 1226

Influence of Cost of Borrowing on Financial Performance of Selected SACCOs in Siaya County

Charles Anyango, Dr. Simeyo Otieno, Dr. Ofwa Joanes Otieno Wu'Adongo

Share this Article

Similar Articles with Keyword 'Listed Companies'

Downloads: 37

Research Paper, Finance, China, Volume 10 Issue 3, March 2021

Pages: 380 - 384

Study on the Relationship between Institutional Investors and ESG

Li Yujie

Share this Article

Downloads: 38

Research Paper, Finance, China, Volume 10 Issue 2, February 2021

Pages: 1419 - 1423

Research on the Influence of the Leadership Structure of Private Listed Companies on Investment Efficiency

Gan Lu

Share this Article

Similar Articles with Keyword 'Corporate'

Downloads: 4 | Weekly Hits: ⮙1 | Monthly Hits: ⮙1

Research Paper, Finance, Nigeria, Volume 10 Issue 7, July 2021

Pages: 1485 - 1497

Internal Control System and Return on Assets of Manufacturing Companies Listed in Nigeria

Ogbebor Peter I., Cole Abimbola A., Akinyemi Akindimeji

Share this Article

Downloads: 37

Research Paper, Finance, China, Volume 10 Issue 3, March 2021

Pages: 380 - 384

Study on the Relationship between Institutional Investors and ESG

Li Yujie

Share this Article

Similar Articles with Keyword 'governance'

Downloads: 4 | Weekly Hits: ⮙1 | Monthly Hits: ⮙1

Research Paper, Finance, Nigeria, Volume 10 Issue 7, July 2021

Pages: 1485 - 1497

Internal Control System and Return on Assets of Manufacturing Companies Listed in Nigeria

Ogbebor Peter I., Cole Abimbola A., Akinyemi Akindimeji

Share this Article

Downloads: 37

Research Paper, Finance, China, Volume 10 Issue 3, March 2021

Pages: 380 - 384

Study on the Relationship between Institutional Investors and ESG

Li Yujie

Share this Article

Similar Articles with Keyword 'Financial'

Downloads: 139 | Monthly Hits: ⮙1

Case Studies, Finance, Tunisia, Volume 8 Issue 8, August 2019

Pages: 1744 - 1749

Scoop on Tunisian Banking System Vulnerabilities and Monetary Policy Features after the Financial Crisis and Political Instability

Salha Ben Salem

Share this Article

Downloads: 154

Research Paper, Finance, Qatar, Volume 8 Issue 11, November 2019

Pages: 1114 - 1129

Beyond Myself: A Phenomenological Study on the Financing Decision Deeds of Overseas Filipino Workers in Qatar

Dr. Fredelito Don John A. Vallesteros, Carlisle Justin Cachuela, Andrei Anthony Y. Sanchez, Dean Daniel T. Santos, Precious Krystal V. Aguba, Juliana Claudette C. Almario, Eliza Elmira Q. Castillo, Dianne Mae B. Menez

Share this Article

Similar Articles with Keyword 'risk'

Downloads: 139 | Monthly Hits: ⮙1

Case Studies, Finance, Tunisia, Volume 8 Issue 8, August 2019

Pages: 1744 - 1749

Scoop on Tunisian Banking System Vulnerabilities and Monetary Policy Features after the Financial Crisis and Political Instability

Salha Ben Salem

Share this Article

Downloads: 160 | Monthly Hits: ⮙1

Survey Paper, Finance, Vietnam, Volume 9 Issue 5, May 2020

Pages: 755 - 761

Determinants of the Risk Tolerance of the Vietnamese Individual Investors

Lam Thien Quy, Pham Thi Hong Van

Share this Article
Top