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Second, the more mutual-fund holdings there are, the more likely managers are to release their IC self-assessment with an auditor's attestation, indicating that mutual funds have a positive impact on a firm's transparency in China.
Attestation: Daniel Redford approved the final manuscript and attests the integrity of the original data and the analysis reported in this manuscript.
Hence, we expect a positive relationship between institutional ownership and voluntary IC disclosure with an auditor's attestation.
Attestation: Cristina Solomon approved the final manuscript and attests to the integrity of the data presented.
Attestation: Dietmar Enk approved the final manuscript, and attests to the integrity of the original data and the analysis reported in this manuscript.
Attestation: Faisal Kashif approved the final manuscript and attests the integrity of the original data and the analysis reported in this manuscript.
Attestation: Ankie E. Hamaekers approved the final manuscript, attests to the integrity of the original data and the analysis reported in this manuscript, and is the archival author.
Attestation: Samata Paidy approved the final manuscript and attests the integrity of the original data and the analysis reported in this manuscript.
These findings indicate that both government control and mutual fund ownership have positive influences on the likelihood of a firm to further attain an auditor's attestation on the IC self-assessment report among all disclosing firms, which is consistent with our H1a, H1b, and H2.
Attestation: Tim van der Beek approved the final manuscript, and attests to the integrity of the original data and the analysis reported in this manuscript.
Either way we should observe a positive association between mutual fund shareholding and the likelihood of IC self-assessment disclosure with an audit attestation.
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