This table presents the regression results examining whether the moderating effect of audit committees on CSR disclosure differs between family-controlled and non-family-controlled firms, as well as between politically connected and non-politically connected firms, before and after the implementation of the corporate governance code (CGC) and firms with low and high institutional investors. Based on the median value, we set 1 for the higher value and 0, otherwise, to classify high and low institutional ownership. Detailed definitions of variables are provided in  Appendix 1 Table A1. All regressions control for industry and time fixed effects. The standard errors are reported in parentheses. ***, ** and * denote significance at the 1, 5 and 10% levels, respectively