ABSTRACT This paper investigates the level of voluntary disclosure in the annual reports of listed companies in Malaysia by examining the impact of ownership structure. A mixed methods approach was adopted to analyse the content and level of information disclosed voluntarily in companies’ annual reports. Family-controlled companies tend to voluntarily disclose information in relation to external factors and global conditions. Most family-controlled companies provide financial warnings in their disclosures. Studies that examine a voluntary disclosure practice by family-controlled companies in Malaysia are limited. As such, little is known about the effect of ownership structure on the level of voluntary disclosure.

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股权结构对自愿披露水平的影响：马来西亚上市家族控股公司的研究

摘要本文通过研究所有权结构的影响，调查了马来西亚上市公司年度报告中的自愿披露水平。采用混合方法分析公司年度报告中自愿披露的信息的内容和水平。家族控股公司倾向于自愿披露与外部因素和全球状况有关的信息。大多数家族控股公司在其披露中都会提供财务警告。研究马来西亚家族控股公司的自愿披露做法的研究是有限的。因此，对于所有权结构对自愿披露水平的影响知之甚少。