el-Jizya: Jurnal Ekonomi Islam Volume 9, Nomor 1, Januari-Juni 2021: 1 - 11 10.24090/ej.v9i1.4412 ISSN: 2354-905X (Cetak) ISSN: 2579-6208 (Online) Disclosure Regulations and Political Accountability: Does Government Capital Ownership Influence Companies’ Performance? Dini Maulana Lestari 1 , Slamet Haryono 2 , Reni Furwanti 3 1,2,3 Sunan Kalijaga State Islamic University, Yogyakarta, Indonesia 1 maulanalestari87@gmail.com Copyright © 2021 The Author This is an open access article Under the Creative Commons Attribution-ShareAlike 4.0 International License ABSTRACT This research aims to discuss those three aspect specifically mandatory disclosure, voluntary disclosure toward, and government capital ownership toward companies’ performance. Government capital ownership is another crucial aspect which able to consider by companies for increase their performance. This is because the higher perentage government capital have, the biggest power they able to control the companies, and it is a good condition because they able to reduce agency’s issues between management and shareholders which absolutely brings positive influence on companies’ performance. Nevertheless, it still lack of studies which combined mandatory, voluntary disclosrues, political accountability and government capital ownership for measuring companies performance. This is descriptive quantitative research, using panel data from several companies in ASEAN country such as Indonesia, Malaysia, Singapore, Thailand, Vietnam, and Philippine as the main samples from 2017-2019. The result come out that although government capital ownership brings no significant effect to boost companies’ performance, it is able to control the variable of mandatory, voluntary disclosures and political accountability have significant positive effect to increase companies’ performance. Keywords: Mandatory Disclosure, Voluntary Disclosure, Political Accountability, Government Capital Ownership, Companie’ Performance A. INTRODUCTION Government capital ownership which relatively has an impact in order to reduce such agency’s issue of such companies, which is absolutely this condition able to improve companies’ value (Nguyen & Nguyen, 2020), but it still lack and become debatable research. Mostly, several previous researches revealed that to get to know company’s performance it measured through the mandatory and voluntary disclosures, or only looking from the accountability of companies (Popva, Georgakopoulos, & et.all, 2013; Yousueng & Sounman, 2019). This research tries to analyze how political accountability, mandatory and voluntary disclosures influence corporate performance with government capital ownership as the moderating variable.