Impact of Ownership Structure on Timeliness of Corporate Internet Reporting (TCIR): Evidence from Listed Capital Goods Manufacturing Companies in Sri Lanka

Abstract

Information plays a vital role in any field. Communicating information timely and conveniently enhances the decision-making process efficiently. The internet has become a prominent channel for firms to disseminate information to stakeholders. Therefore, this study aims to examine the level of Timeliness of Corporate internet reporting (TCIR) and how ownership structure impacts firms' timely internet reporting. This study reveals that the average level of TCIR is reasonably low. Further, it found that ownership structure concentrated with individual investors, institutions, and Government has a negative and significant impact on TCIR. Hence organizations with highly concentrated ownership tend to disseminate less timely information online. The finding of this study recommends that Sri Lankan companies increase timely engagement in internet disclosures to support decision-making, and participating in timely internet disclosures opens opportunities for potential investments for the betterment of the organization.