Intellectual Capital Disclosures Analysis of Indonesia and Thailand Tourism and Hospitality Industry: Comparison of Ownership Structure

Each company hada different ownership structure that can affect the companys disclosures. This study aimedto examine the differences in the level of ICD and its components in Thailand and Indonesia, which have several similarities. The ownership structure is divided into two types, namely managerial ownership and financial institutionownership. This study useda non-parametric statistical test in the Mann-Whitney Test by first conducting a normality test. The results indicatedno significant difference in the ICD levelbetween companies that have and companies that do not have managerial ownership. This study also did not find any significant difference in the ICD level for the companies with and without financial institution ownership. In addition, this study found a significant difference in the level of HCD between companies that have and companies that do not have financial institution ownership,