the results of multiple regression analysis indicate that the level of a company’s voluntary disclosure is positively
and significantly associated with its perceived influence of (a) international socio-political
institutions (such as the United Nations, the European Union, the Association of South East
Asian Nations, the World Trade Organization, and the Organization for Economic Cooperation
and Development), (b) international accounting standards, and (c) international
financial institutions (such as the World Bank and the International Monetary Fund).