Relationship Between Ownership Structures and Level of Corporate Disclosure Among Listed Companies in Tanzania

Abstract

This paper examined the relationship between ownership structures and the level of corporate disclosure (LCD) among Tanzanian listed companies. Relationships between director, government, institutional and foreign ownership and LCD were examined. The 105 firm-year observations for 21 listed companies were examined from 2016 to 2020. The agency theory was used. An explanatory research design was employed. Data were gathered through balanced panel data using a survey method. Descriptive and inferential analysis using Ordinary Least Square was used. Descriptive and inferential analysis using Ordinary Least Square was used. The study found that director, government, and foreign ownership positively affect the LCD, while institutional ownership negatively affects it. This implied that in Tanzania, ownership structures were very important in determining LCD.The study concluded that Tanzania's LCD is moderate, and companies should disclose director ownership, establish independent oversight mechanisms, collaborate with foreign investors, and engage with institutional investors to align corporate governance practices with international standards.