Ownership structure and political spending disclosure

This study examines the link between ownership structure and political spending disclosure (PSD). We break down into four different groups of shareholders: institutional, insider, governmental foreign. Using a unique dataset provided by CPA-Zicklin for PSD panel from S&P 500 companies 2015 2018, our results reveal that institutional are positively associated with level PSD, while insider is negatively PSD. Additionally, prior literature mainly investigated how influences practices, we analyse mechanisms through which characteristics influence Our cross-sectional tests provide evidence owners exhibit more if they pursing tax-related lobbying expenses tax avoidance practices. demand lower in firms higher nonfinancial financial reporting quality. Finally, case industry concentration. Overall, conclude have distinct impacts preferences on firm's strategy various uniquely operationalise interactions transparency. Through agency theory, advance heated debates – an emerging, yet hitherto less examined, category voluntary disclosure.