This qualitative study is an attempt to gain some insights into the level of corporate governance disclosure in New Zealand. A sample of ten large publicly-listed companies was analysed to determine to what extent they fulfil the requirements of the corporate governance principles and guidelines as recommended by the Financial Markets Authority (FMA) of New Zealand. Even though compliance with the FMA’s recommendations is voluntary, a high overall percentage of compliance (74%) was recorded in this study. This indicates the seriousness with which New Zealand companies take investor concerns on issues of corporate governance. The study found that a high compliance was recorded in areas such as board composition and board committees and low compliance recorded in areas involving costly implementation or when the issue is sensitive such as disclosures regarding remuneration details of directors and what non-audit work was undertaken and whether it compromises auditor independence. Being Disclosure standards of large New Zealand companies: A content analysis study of compliance with the FMA’s corporate governance guidelines AUTHOR Allan Chang a small country, New Zealand has performed well in attracting foreign investment due to its strong tradition of law enforcement and respect for regulations. With greater awareness of the importance of sound corporate governance to investors, companies may see the benefit of greater compliance with corporate governance guidelines.
Allan Chang (2017). Disclosure Standards of Large New Zealand Companies: A content analysis study of compliance with the FMA’s corporate governance guidelines. Unitec ePress Occasional and Discussion Paper Series (2017:5).
https://doi.org/10.34074/ocds.52017
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