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1
Bloomfield, Robert J. "A Pragmatic Approach to More Efficient Corporate Disclosure." Accounting Horizons 26, no. 2 (June 1, 2012): 357–70. http://dx.doi.org/10.2308/acch-10261.
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SYNOPSIS This paper uses a Pragmatic theory of language (drawn from philosophy and linguistics) to diagnose the causes of excessive financial disclosure and propose a regulatory solution. The diagnosis is that existing disclosure regulations are one sided, effectively encouraging firms to disclose any information that might be relevant, but failing to discourage disclosure of information that adds little to what investors already know. This one-sidedness limits investors' ability to draw inferences that items the firm chooses not to disclose are not newsworthy (an inference Pragmatic theorists call “implicature”). The solution is to encourage or require firms to supplement comprehensive disclosures with an “elevated” disclosure that is brief enough to force firms to be selective in choosing what information to include. Regulations can enhance implicature through rules that prohibit firms from elevating disclosures that are less newsworthy than disclosures that are not elevated.
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Alnabsha, Abdalrhman, Hussein A. Abdou, Collins G. Ntim, and Ahmed A. Elamer. "Corporate boards, ownership structures and corporate disclosures." Journal of Applied Accounting Research 19, no. 1 (February 12, 2018): 20–41. http://dx.doi.org/10.1108/jaar-01-2016-0001.
Повний текст джерелаАнотація:
Purpose The purpose of this paper is to investigate the effect of corporate board attributes, ownership structure and firm-level characteristics on both corporate mandatory and voluntary disclosure behaviour. Design/methodology/approach Multivariate regression techniques are used to estimate the effect of corporate board and ownership structures on mandatory and voluntary disclosures of a sample of Libyan listed and non-listed firms between 2006 and 2010. Findings First, the authors find that board size, board composition, the frequency of board meetings and the presence of an audit committee have an impact on the level of corporate disclosure. Second, results indicate that ownership structures have a non-linear effect on the level of corporate disclosure. Finally, the authors document that firm age, liquidity, listing status, industry type and auditor type are positively associated with the level of corporate disclosure. Research limitations/implications Future research could investigate disclosure practices using other channels of corporate disclosure media, such as corporate websites. Useful insights may be offered also by future studies by conducting in-depth interviews with corporate managers, directors and owners regarding these issues. Practical implications The evidence relating to the important role that corporate governance mechanisms play in shaping the expectations relating to the level of corporate voluntary and/or mandatory disclosures may be useful in informing investor decisions, as well as future policy and regulatory initiatives. Originality/value This paper contributes to the existing literature by examining the governance-disclosure nexus relating to both mandatory and voluntary disclosures in both listed and non-listed firms operating in a developing country setting.
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Elberry, Noha, and Khaled Hussainey. "Does corporate investment efficiency affect corporate disclosure practices?" Journal of Applied Accounting Research 21, no. 2 (April 13, 2020): 309–27. http://dx.doi.org/10.1108/jaar-03-2019-0045.
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PurposeThe authors examine the impact of corporate investment efficiency on corporate voluntary disclosure for a sample of UK non-financial companies.Design/methodology/approachThe authors use a sample of FTSE All-Share firms for the period of 2007–2014. Disclosure scores are collected from Corporate Financial Information Environment (CFIE). They follow Biddle et al. (2009) and Chen et al. (2011) in measuring corporate investment efficiency.FindingsThe authors find that high level of performance-related disclosure is associated with high level of corporate investment efficiency, while high level of good news information is associated with low level of corporate investment efficiency. They also find evidence on a bidirectional relation between disclosure and corporate investment efficiency.Research limitations/implicationsThe authors’ findings would be of importance to stakeholders and corporations. Stakeholders' investment decisions could be facilitated by understanding the disclosures provided by their firms and how these firms' performance is presented. Corporations become aware of the language which must be used to signal their performance.Practical implicationsCorporations become aware of the language which must be used in their disclosures. As firms may reflect their efficient investments but not in the form of good news in order to avoid revealing their competitive advantage to competitors.Originality/valueThis paper adds to disclosure studies by introducing a new variable, corporate investment efficiency, as a determinant of corporate disclosure practice.
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Hoelscher, Seth A. "Voluntary hedging disclosure and corporate governance." Review of Accounting and Finance 19, no. 1 (June 10, 2019): 5–29. http://dx.doi.org/10.1108/raf-01-2018-0001.
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Purpose This paper aims to investigate the implications of governance quality on a firm’s information environment in the context of voluntary changes in hedging disclosures made by oil and gas companies. Design/methodology/approach The research utilizes a Factiva-guided search to hand-collect public disclosures related to changes in hedging policies along with the hand collection of financial derivatives positions and operational hedging contracts data using 10-K filings. The paper addresses self-selection bias, which typically plagues voluntary disclosure studies, by implementing a Heckman (1979) two-step model to estimate the decision process, make changes in their hedge program and, conditional on making changes to their hedging activities, provide disclosure. Findings Oil and gas firms with relatively poor governance are more likely to voluntarily disclose hedging changes and do so more frequently (substitution hypothesis). There is evidence that poorly governed firms in the presence of large shareholders (i.e. high institutional ownership) are more likely to provide transparency of hedging policy changes. Originality/value This is the first study to combine hand-collected changes in hedging voluntary disclosures and hand-collected derivative position data to investigate the interaction of corporate governance and voluntary disclosure. The sample allows for analysis between three sub-samples: companies that do not make changes in hedging and do not hedge, firms that make changes in their hedging policies but do not disclose the changes during a given year and companies that change their hedging activities and provide voluntary disclosure. This unique setting helps to alleviate concerns of self-selection bias associated with voluntary disclosure.
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Czernkowski, Robert, Stephen Kean, and Stephen Lim. "Impact of ASX corporate governance guidelines on sustainability reporting." Accounting Research Journal 32, no. 4 (November 4, 2019): 692–724. http://dx.doi.org/10.1108/arj-07-2017-0122.
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Purpose This paper aims to examine the impact of the Australian Securities Exchange Corporate Governance recommendations on the breadth (amount of items covered) of (environmental and social) sustainability reporting by the firms in the Top 100, around the change from G3.1 to G4 disclosure regimes. Design/methodology/approach This paper undertakes comparisons of means and regression models to investigate the changes between disclosure scores of 98 listed entities from the 2013 G3.1 to the 2015 G4 disclosure regimes. Findings This paper finds that average disclosure levels did not change. Nonetheless, disclosure practices did vary by entity size and performance. Analysis of 2015 disclosures contingent on 2013 disclosure practice indicates that disclosure changes are consistent with a pattern of mean reversion. Practical implications Evidence that low disclosers increased disclosure and high disclosers reduced disclosers is consistent with the idea that sustainability disclosure is not so much driven by any ethical considerations, but rather by a desire to not be a disclosure outlier. Reliance on voluntary disclosure to achieve a socially desired level of disclosure is unlikely to bear fruit. Originality/value This paper contributes to the literature on sustainability by examining firm responses to change in disclosure regimes, and concluding that size and peer relativities drive the disclosure process.
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Wakasugi, Akira. "Accounting Disclosure and Corporate Crime." TRENDS IN THE SCIENCES 3, no. 8 (1998): 26–28. http://dx.doi.org/10.5363/tits.3.8_26.
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Craig, Russell, and Joselito Diga. "Corporate Accounting Disclosure in ASEAN." Journal of International Financial Management and Accounting 9, no. 3 (October 1998): 246–74. http://dx.doi.org/10.1111/1467-646x.00039.
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Elgammal, Mohammed M., Khaled Hussainey, and Fatma Ahmed. "Corporate governance and voluntary risk and forward-looking disclosures." Journal of Applied Accounting Research 19, no. 4 (November 12, 2018): 592–607. http://dx.doi.org/10.1108/jaar-01-2017-0014.
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PurposeThe purpose of this paper is to examine the impact of corporate governance on risk and forward-looking disclosures in Qatar.Design/methodology/approachThe authors automatically measure levels of risk and forward-looking disclosures in the annual reports of Qatari firms for the period 2008–2014. The authors also use two ways clustered error pooled panel regressions to examine the determinants of these disclosures.FindingsThe authors find that firms with a higher percentage of foreign ownership disclose more forward-looking information; conversely, board size has a negative impact on the forward-looking disclosure. Financial firms tend to disclose less forward-looking information, however, they tend to disclose more forward-looking information after the 2008 global financial crisis. The authors also find negative relationships between the risk disclosure and both the number of non-executive members of the board of directors and duality role of the CEO.Research limitations/implicationsThe study uses the quantity of disclosure as a proxy for the quality of disclosure.Practical implicationsThe findings should help the users of corporate annual reports in Qatar to understand managerial incentives for reporting risk and forward-looking information. This should help regulators to set a proper set of disclosure rules. Moreover, this study increases our understanding of the behavior of international investors and the board characteristics (i.e. board size) in motivating risk and forward-looking disclosures in Qatari firms.Originality/valueThe authors provide the original empirical evidence on the impact of corporate ownership and board characteristics on risk and forward-looking disclosures for Qatari firms using two ways clustered error pooled panel regressions.
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Abraham, Santhosh, Claire Marston, and Edward Jones. "Disclosure by Indian companies following corporate governance reform." Journal of Applied Accounting Research 16, no. 1 (May 11, 2015): 114–37. http://dx.doi.org/10.1108/jaar-05-2012-0042.
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Purpose – The purpose of this paper is to investigate Indian companies’ compliance with the mandatory and voluntary corporate governance disclosure requirements of the Stock Exchange Board of India’s Clause 49. Design/methodology/approach – The authors develop a corporate governance disclosure index and sub-indices based on Clause 49. Annual reports of listed Indian companies are scored according to their disclosures in two periods – pre and post amendments to Clause 49. Findings – Indian companies are highly compliant with corporate governance disclosure requirements of Clause 49. Disclosure increases significantly after amendments to Clause 49 as the penalties for non-compliance increase in severity. Government controlled firms disclose significantly less than privately owned firms. Research limitations/implications – The findings are consistent with bonding theory and the authors note that the presence of an independent regulator (with powers to take action against violators) provides corporate India with additional incentives to comply with corporate governance reform. Practical implications – These findings have important implications for policy makers and regulators as they contribute to the debate on the choice between formal corporate governance regulation versus informal self-regulation. The study also has implications for understanding factors associated with the adoption of disclosure practices in general. Originality/value – This is the first study to examine disclosure compliance in a major developing country pre and post amendments to mandatory corporate governance requirements. Prior evidence indicates a low level of disclosure in India but our results demonstrate an improvement in line with our theoretical predictions that suggests, India is converging towards an Anglo-Saxon model of corporate governance.
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Louie, Judy, Kamran Ahmed, and Xu-Dong Ji. "Voluntary disclosures practices of family firms in Australia." Accounting Research Journal 32, no. 2 (July 1, 2019): 273–94. http://dx.doi.org/10.1108/arj-04-2016-0042.
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Purpose This paper aims to examine the voluntary disclosure practices of family and non-family listed firms and whether family firms have improved their disclosure practices following the introduction of the Principles of Good Corporate Governance and Best Practice Recommendations in 2003 in Australia. Design/methodology/approach Voluntary disclosures are measured by constructing an index specifically for this study. Such indexes consist of corporate governance disclosure, strategic disclosure and future disclosures. They are then regressed on firm-specific variables while controlling for family and non-family firms. A total of 60 family firms and 60 non-family firms in Australia are randomly chosen from 2001 to 2006 for examining their disclosure practices. Findings The research findings show that family firms disclose information voluntarily to signal to the market regarding their growth potentials and abide by government regulations to improve their reputation. Despite the fact that compliance with the Principles of Good Corporate Governance and Best Practice Recommendations was not compulsory, this paper finds that the recommendation encouraged family and non-family firms to disclose more corporate governance information. Practical implications The findings from this research will help investors and regulators make more strategic decisions on investments and regulations respectively in family firms. Originality/value There has been limited empirical evidence on the disclosure practices and their determinants of family firms in Australia. The study will thus significantly contribute to the current knowledge in this regard.
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Ramananda, Dimaz, and Apriani Dorkas Rambu Atahau. "Corporate social disclosure through social media: an exploratory study." Journal of Applied Accounting Research 21, no. 2 (September 24, 2019): 265–81. http://dx.doi.org/10.1108/jaar-12-2018-0189.
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Purpose The purpose of this paper is to determine the extent of voluntary corporate social responsibility (CSR) disclosure by Indonesian firms on their social media and to compare it with the mandatory disclosure on their annual reports. Design/methodology/approach The authors use publicly listed Indonesian firms that are included in the SRI-KEHATI Index as the sample. Further, by using NVIVO software, the authors qualitatively analyze CSR activities disclosed on firms’ social media and annual reports with an interpretive approach. Findings The findings indicate that Indonesian firms still exhibit early stages of social media-based voluntary CSR disclosure. Further, issues on training, education and skill building dominate firms’ disclosure. Finally, Indonesian firms disclose less CSR information in their social media than in their annual reports, thus confirming the early stages of social media-based CSR disclosure. Research limitations/implications The small sample size limits the generalizability of the results. Practical implications This paper provides insights on which CSR issues are commonly disclosed in firms’ social media. This study may also inform regulators the extent of disclosures that could be regulated in social media. Originality/value Social media-based CSR disclosure in developing countries is relatively understudied. Thus, this paper empirically shows the topic and intensity of CSR disclosure in social media and the comparison between this type of CSR disclosure with CSR disclosure using other media.
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Al -Anezi,Ph.d, Fawaz Al Anezi,Ph d., and Meshari Al-Harshani,Ph.d. "Corporate Social Accounting Disclosure in Kuwait." المجلة العلمیة للبحوث التجاریة 14, no. 2 (October 1, 2008): 27–46. http://dx.doi.org/10.21608/sjsc.2008.118644.
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Kuasirikun, Nongnooch, and Michael Sherer. "Corporate social accounting disclosure in Thailand." Accounting, Auditing & Accountability Journal 17, no. 4 (September 2004): 629–60. http://dx.doi.org/10.1108/09513570410554588.
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Sunder, Shyam. "Corporate Disclosure: A Symposium." Accounting Horizons 26, no. 2 (June 1, 2012): 353–55. http://dx.doi.org/10.2308/acch-10263.
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Landgraf, Ellen, and Ahmed Riahi‐Belkaoui. "Corporate Disclosure Quality and Corporate Reputation." Review of Accounting and Finance 2, no. 1 (January 2003): 86–95. http://dx.doi.org/10.1108/eb027003.
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Cohen, Jeffrey R., Lori L. Holder-Webb, Leda Nath, and David Wood. "Corporate Reporting of Nonfinancial Leading Indicators of Economic Performance and Sustainability." Accounting Horizons 26, no. 1 (March 1, 2012): 65–90. http://dx.doi.org/10.2308/acch-50073.
Повний текст джерелаАнотація:
SYNOPSIS The call for disclosure of nonfinancial information has grown in response to the awareness that financial statements omit salient information about the company (Adams et al. 2011). This study follows earlier studies of nonfinancial disclosures of governance and corporate social responsibility information (Holder-Webb et al. 2008, 2009) and examines the public voluntary disclosure of a set of leading indicators of economic performance and sustainability of earnings provided during 2004 by a sample of 50 publicly traded firms across five industries. The results indicate that, among the sample firms, there remains a lack of rigorous and expansive disclosure of this type of information and that considerable variability exists in disclosure practice based on both industry and size. For example, companies disclose a wide variety of nonfinancial information both through mandatory filings such as 10-Ks and through alternative sources such as investor promotion materials and company websites, with the most frequent types of disclosures being concerned with information pertaining to market share and innovation. We conclude by discussing the role of this study within recent developments in integrative reporting (Adams et al. 2011) and suggest that these types of disclosures would benefit from the availability of assurance services. Data Availability: All information used in this paper is available from public sources.
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Zhang, Yi, Gin Chong, and Ruixin Jia. "Fair value, corporate governance, social responsibility disclosure and banks’ performance." Review of Accounting and Finance 19, no. 1 (November 13, 2019): 30–47. http://dx.doi.org/10.1108/raf-01-2018-0016.
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Purpose The purpose of this paper is to investigate the interaction between mandatory disclosures and voluntary disclosures of banks and the information content of corporate disclosures on firm performance. Design/methodology/approach Based on the US-listed banks from 2007 to 2015, this paper examines the interplay among the fair-value measurement, corporate governance disclosure and voluntary social responsibility disclosure. In addition, the paper examines the extent of such disclosure of mandatory items (fair-value measurement) versus voluntary items (corporate governance and social responsibility issues) on banks’ performance in terms of their return on equity and return on asset. Findings This paper finds that banks with a higher social responsibility disclosure score and stronger corporate governance tend to have lower percentages of Level 3 fair-value assets. Banks with a higher Level 3 fair-value asset disclosure have a lower financial performance. Practical implications This paper provides evidence of the interplay of various corporate disclosures by banks and implies that banks use fair-value measurements to disguise their poor performance. The findings provide insights for the policymakers, investors and regulators to assess banks’ disclosure. Originality/value This paper extends the study of banks’ fair-value measurements and is the first study to examine the interaction between voluntary and mandatory disclosures. This study sheds lights on the theories of performativity, agency and stakeholder by demonstrating the information contents of corporate disclosures on firm performance.
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Arshad, Roshayani, Ruhaya Atan, and Faizah Darus. "Board structure, institutional pressures and corporate voluntary disclosures." Corporate Ownership and Control 6, no. 3 (2009): 360–70. http://dx.doi.org/10.22495/cocv6i3c3p2.
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Corporate disclosure has been subjected to calls for corporate transparency by corporate governance movement as a matter of good corporate governance. Managers face substantial pressure to make more transparent disclosure of their activities to promote efficient governance of their companies or risk losing legitimacy from the perspectives of the investors and other stakeholders. Using the annual reports of 155 Malaysian listed companies, this study investigates the competing effects of board structure and institutional pressures on the extent and credibility of corporate voluntary disclosure during the period when public listed companies in Malaysia faced new corporate governance regulation. This study provides evidence that under the influence of dominant owners on board, management voluntary disclosure decisions are driven by mimetic pressures when their company is structured to meet expectations of good corporate governance. Managers’ voluntary disclosure strategy to gain legitimacy seems to override their incentives to disclose credible information to outside investors. This inference is consistent with the evidence that management voluntary disclosures are not viewed as credible by outside investors. These findings contribute to a better understanding of the relationships between various board structures and institutional pressures on management disclosure decisions in particular agency settings.
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Honggowati, Setianingtyas, Rahmawati Rahmawati, Y. Anni Aryani, and Agung Nur Probohudono. "Corporate Governance and Strategic Management Accounting Disclosure." Indonesian Journal of Sustainability Accounting and Management 1, no. 1 (June 13, 2017): 23. http://dx.doi.org/10.28992/ijsam.v1i1.24.
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The aim of this study is to examine the corporate governance influence on strategic management accounting disclosure. The strategic management accounting disclosure in this study was measured by the disclosure level regarding strategic management accounting published in the company's annual report according to the index (made by the author). The corporate governance is proxied by board size, independent board, and managerial ownership. The data of this study are 497 manufacturing companies in Indonesia in the period of 2011-2015 and the method employed in this study is regression analysis method. The findings show that board size has significant positive influence on the disclosure level of strategic management accounting of manufacturing companies in Indonesia, and the proportion of independent board does not influence SMA disclosure, while managerial ownership has negative influence the disclosure level of strategic management accounting.
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Slack, Richard, and Matthias Munz. "Intellectual capital reporting, leadership and strategic change." Journal of Applied Accounting Research 17, no. 1 (February 8, 2016): 61–83. http://dx.doi.org/10.1108/jaar-02-2014-0021.
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Purpose – A change in leadership can signal a shift in corporate strategy to drive future value creation. To help achieve this, a different emphasis may be placed upon the intellectual capital (IC) resources within the organisation. The purpose of this paper is to examine the changes in volume, composition and emphasis of IC disclosure in annual reports mapped against the re-orientation of corporate strategy and associated leadership change. Design/methodology/approach – A longitudinal period of over three decades (1979-2010) is examined. Adopting a case-based approach, Daimler AG is purposively selected for this research having a number of distinct changes in strategy over the period, reflective of leadership change. Using content analysis, annual report IC-related disclosures (structural, relational and human capital) by Daimler AG are examined, by category and more detailed sub-categories, against corporate strategy. Findings – The composition and emphasis of IC disclosures found in the annual reports changes over the longitudinal period and is reflective of the prevailing corporate strategy at that time. There were four identified periods of strategy, each associated with leadership change. The prevalence and qualitative focus of IC disclosures relevant to each period reflects the importance of respective IC components in corporate value creation. Research limitations/implications – The research is based on annual report IC disclosures within one case company and hence reflect the messages conveyed by that company over the longitudinal period. Additionally, the authors recognise that the annual report is only one source of corporate information, but as a historic record it serves to consistently capture management disclosure over a long-time period. Future research, adopting an econometric approach, could further test the linkages between leadership change, strategic shift and IC-related disclosure. Practical implications – The research reveals how IC-related disclosure shifts to reflect leadership and strategic change within a case company. Through such disclosure, the authors are able to gain greater insight into how a specific business seeks to create value drawing on the components of IC underpinning corporate strategy. Originality/value – The research provides new insights into IC disclosure by mapping its content and emphasis against changes in corporate strategy. This has contemporary significance due to the wider disclosure debate concerning strategy and value creation in the annual report, for instance through integrated reporting. Further, the research shows the value of annual reports for longitudinal disclosure research.
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Blanc, Renata, Muhammad Azizul Islam, Dennis M. Patten, and Manuel Castelo Branco. "Corporate anti-corruption disclosure." Accounting, Auditing & Accountability Journal 30, no. 8 (October 16, 2017): 1746–70. http://dx.doi.org/10.1108/aaaj-02-2015-1965.
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Purpose The purpose of this paper is to investigate whether differences in media exposure regarding corporate corruption appear to influence companies’ anti-corruption disclosures. The authors also examine whether the level of press freedom in firms’ home countries affects disclosure and the impact of media exposure in different ways. Design/methodology/approach The authors use Transparency International’s 2012 ratings of anti-corruption disclosure by the 105 largest multinational firms in the world, press freedom assessments from the non-governmental organization Reporters Without Borders, and media exposure measures based on a search using the Dow Jones Factiva database. The authors assess relations using regression analysis controlling for other firm-specific factors potentially impacting disclosure choices. Finally, the authors consider the potential effect of other country-level factors. Findings The results indicate that media exposure, using either an existence or an extensiveness measure, is positively related to differences in sample companies’ anti-corruption disclosures. The authors also find that disclosure is more (less) extensive where home country press freedom is less (more) restricted and that reduced press freedom appears to reduce the impact of media exposure on the disclosure. The authors further document that press freedom levels explain more difference in anti-corruption disclosures than other country-level factors potentially influencing the practice. Research limitations/implications Because the investigation is limited to very large international firms for a single year, the degree to which the findings apply to other companies and time periods cannot be assessed. Further, the authors cannot determine how the findings would hold using an alternative disclosure rating scheme. Finally, the authors do not assess whether differences in the source of media exposure impact the findings. Social implications The findings suggest that, to the extent that improved anti-corruption disclosure reflects greater corporate attention to corruption issues, the media may be a powerful player in addressing this social ill. Unfortunately, the results also indicate that media efforts may not be sufficient to bring about change in locations where the freedom of the press is limited. Further, the results suggest that disclosure appears to be a function of exposure to social and political exposures, and the authors therefore question whether it will actually lead to improved corruption performance. Originality/value The study is the first to consider the impacts of media exposure and press freedom on corporate social disclosures.
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Hamrouni, Amal, Rim Boussaada, and Nadia Ben Farhat Toumi. "Corporate social responsibility disclosure and debt financing." Journal of Applied Accounting Research 20, no. 4 (December 9, 2019): 394–415. http://dx.doi.org/10.1108/jaar-01-2018-0020.
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Purpose The purpose of this paper is to examine how corporate social responsibility (CSR) reporting influences leverage ratios. In particular, this paper aims to determine whether firms with higher CSR disclosure scores have better access to debt financing. Design/methodology/approach This paper uses a panel data analysis of non-financial French firms listed on the Euronext Paris Stock Exchange and members of the SBF 120 index from 2010 to 2015. The environmental, social and governance (ESG) disclosure scores that are collected from the Bloomberg database are used as a proxy for the extent of ESG information disclosures by French companies. Findings The empirical results demonstrate that leverage ratios are positively related to CSR disclosure scores. In addition, the results show that the levels of long-term and short-term debt increase with the disclosure of ESG information, thus suggesting that CSR disclosures play a significant role in reducing information asymmetry and improving transparency around companies’ ESG activities. This finding meets the lenders’ expectations in terms of extrafinancial information and attracts debt financing sources. Research limitations/implications The research is based only on the quantity of the ESG information disclosed by French companies and does not account for the quality of the CSR disclosures. The empirical model omits some control variables (e.g. the nature of the industry, the external business conditions and the age of the firm). The results should not be generalized, since the sample was based on large French companies for 2010–2015. Practical implications France is a highly regulated context that places considerable pressure on French firms in terms of CSR policies. The French Parliament has adopted several laws requiring transparency in the environmental, social, and corporate governance policies of French firms. In this context, firms often regard CSR policies as constraints rather than opportunities. This study highlights the benefits that result from transparent CSR practices. More precisely, it provides evidence that the high disclosure of ESG information is a pull factor for credit providers. Originality/value This study extends the scope of previous studies by examining the value and relevance of CSR disclosures in financing decisions. More precisely, it focuses on the relatively little explored relationship between the extent of CSR disclosures and access to debt financing. This paper demonstrates how each category of CSR disclosure information (e.g. social, environmental and governance) affects access to debt financing. Moreover, this study focuses on the rather interesting empirical setting of France, which is characterized by its highly developed legal reforms in terms of CSR. Achieving a better understanding of the effects of ESG information is useful for corporate managers desiring to meet lenders’ expectations and attract debt financing sources.
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ADAMS, CAROL A., ANDREW COUTTS, and GEORGE HARTE. "CORPORATE EQUAL OPPORTUNITIES (NON-) DISCLOSURE." British Accounting Review 27, no. 2 (June 1995): 87–108. http://dx.doi.org/10.1006/bare.1994.0005.
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Wany, Eva, Siti Asiah Murni, and Kholidiah ,. "PENGARUH CORPORATE ENVIRONMENTAL PERFORMANCE DAN CORPORATE SOCIAL ACCOUNTING DISCLOSURE TERHADAP CORPORATE ECONOMIC PERFORMANCE." Media Riset Akuntansi, Auditing dan Informasi 14, no. 1 (May 3, 2017): 1. http://dx.doi.org/10.25105/mraai.v14i1.1751.
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<p>This research is aimed to recognize the effect of environmental performance<br />and environmental disclosure to Economic Value Added as economic performance<br />measurement by using some variables control such as, profit margin, ownership,<br />environmental concern, and market performance. The type of research done is the type<br />of research by using hypothesis testing which is a research in explaining the relation<br />phenomena between variable. The data used in this research is from the annual financial<br />report and also the continued report of manufactured company listed in BEI and PROPER<br />in 2009-2012 with 17 companies. Analysis hypothesis used in this research is multy<br />linear regression and before doing the test, the classic asumption test of the data has<br />been done. The analysis shows that environmental performance and and social<br />accounting disclosure affect to Economic Value Added as the economic performance<br />measurement.<br />From the hypothesis, we can get the result that environmental performance and<br />social accounting disclosure doesn’t give any effect to the economic performance, but<br />The testing result hypothesis shows that environmental performance and social<br />accounting disclosure jointly effect to the economic performance.<br />Keywords : Environmental Performance, Social Accounting Disclosure, Economic<br />Performance,</p>
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Martikainen, Minna, Juha Kinnunen, Antti Miihkinen, and Pontus Troberg. "Board’s financial incentives, competence, and firm risk disclosure." Journal of Applied Accounting Research 16, no. 3 (November 9, 2015): 333–58. http://dx.doi.org/10.1108/jaar-10-2014-0117.
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Purpose – The purpose of this paper is to examine novel corporate governance-based determinants of risk disclosures among index-listed Finnish companies. Therefore the focus of the study is on explaining the board’s monitoring role in relation to corporate managers. Design/methodology/approach – Firms’ risk disclosures are analysed in terms of their Quantity and Coverage. The authors focus on two board characteristics not examined in prior related literature: first, non-executive board members’ self-interested financial incentives, measured by their share or option ownership, and annual compensation and second, non-executive board members’ competence, measured by their experience in the company and managerial capability proxied by prior education. The sample is composed of the OMXH-25-listed firms, representing the most traded and followed firms among Finnish publicly listed companies. Findings – The authors find that the risk disclosures of these firms can be explained by financial incentives (wealth and compensation) and competence-related factors (attrition rate and education). The results indicate that among the “best disclosers”, the narrative risk disclosures are, on average, on a high level, and variation in risk reporting is largely associated with board characteristics. Research limitations/implications – The relatively small sample size makes the results vulnerable to type two error. Further research could continue by examining the impact of board work on corporate disclosures across countries and disclosure items. Practical implications – Board members’ financial incentives and competence impact the dynamism of board work. In this way, they are also associated with board members’ disclosure decisions. Originality/value – This paper contributes to the extant literature by demonstrating the impact of previously unexamined board characteristics on the quality of the narrative risk disclosures of highly followed firms.
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Serrasqueiro, Rogério Marques, and Tânia Sofia Mineiro. "Corporate risk reporting: Analysis of risk disclosures in the interim reports of public Portuguese non-financial companies." Contaduría y Administración 63, no. 2 (April 10, 2018): 34. http://dx.doi.org/10.22201/fca.24488410e.2018.1615.
Повний текст джерелаАнотація:
<p class="Default">Fast changing environments, globalization, coupled with financial scandals, and the advance of information technologies made corporate risk a very central issue in management and accounting. Current governance codes require that management disclose in annual reports its responsibility for the adequacy of risk management and internal control systems and the disclosure of risk and uncertainties faced by companies are required by both governance codes and corporate reporting. This study seeks to capture risk disclosure patterns adopted by public Portuguese companies in interim reports and to investigate whether the audit quality may explain the observed risk disclosures practices. Manual content analysis has been carried out in the interim reports of 35 non-financial Portuguese firms ranked by decreasing market capitalization to create indexes of corporate risk disclosure, which have been used for observing the tone of disclosure and for testing an explanatory model with proxies of audit quality together with other explanatory variables widely used in disclosure research. Results point out that quantified risk disclosure prevails in interim reports and that firm’s risk disclosure policies are not influenced by auditor’s quality. This work contributes to academic and regulatory environments, filling the gap about risk disclosure in the interim report, identifying the nature of corporate risk disclosures, assessing the quality of risk information and updating research about determinants of risk disclosure in interim reports.</p>
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Mendes-da-Silva, Wesley, Theodore E. Christensen, and Vernon J. Richardson. "Determinants of internet financial disclosure in an emerging market: lessons from Brazil." Corporate Ownership and Control 5, no. 2 (2008): 379–92. http://dx.doi.org/10.22495/cocv5i2c3p7.
Повний текст джерелаАнотація:
Disclosure transparency is one of the pillars of good corporate governance. Moreover, the digital age has produced a dramatic shift in the corporate communication paradigm. As a result, companies increasingly use the Internet as a means of disseminating and disclosing financial information to shareholders, analysts and other interested capital market participants. This research examines the determinants of voluntary disclosure of financial information on the Internet by Brazilian firms. Cross-sectional analyses based on 291 non-financial companies listed on the São Paulo Stock Exchange in 2002 indicate that both firm size and the quality of corporate governance are positively related to the level of voluntary disclosure of financial information on the Internet. These results are consistent with the notion that Brazilian firms with incentives to improve financial transparency disclose more financial information on the Internet. Compared to similar Internet disclosures of U.S.-domiciled companies, this study finds that corporate governance is an incremental determinant of Internet financial disclosure for Brazilian enterprises
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von Alberti‐Alhtaybat, Larissa, Khaled Hutaibat, and Khaldoon Al‐Htaybat. "Mapping corporate disclosure theories." Journal of Financial Reporting and Accounting 10, no. 1 (June 29, 2012): 73–94. http://dx.doi.org/10.1108/19852511211237453.
Повний текст джерелаАнотація:
PurposeThe purpose of this paper is to map corporate disclosure theories as a step towards filling a gap in the theoretical background for corporate disclosure research. The purpose of the map is to encompass a range of particular theories relating to corporate disclosure and to demonstrate the complex relationships between different notions of the financial disclosure phenomenon. This will help new researchers to understand how particular corporate disclosure theories are related, as well as help with teaching accounting theories at undergraduate and postgraduate level.Design/methodology/approachA deductive and inductive approach to theory building was applied. The deductive approach suggests identifying the gap in the literature, the inductive approach then prescribes theory building in three stages: phenomenon observation, categorisation and relationship building. This approach serves to develop a theoretical map integrating the corporate disclosure theories.FindingsThe paper discusses theories that recognise actual features of financial markets – market failure, information asymmetry and adverse selection – to provide an explanation for the existence of corporate reporting regulations and managerial incentives, which control and determine the maximum level of corporate information under these conditions. It then integrates these theories in a map seeking to explain corporate disclosure levels, mandatory and voluntary, financial and narrative. A combination of theoretical supplements – codification theory, Dye's theory of mandatory and voluntary disclosure, and disclosure transformation theory – are proposed in this framework as theories to explain processes of change in mandatory and voluntary corporate disclosure in practice.Originality/valueAnother benefit mapping these theories is to provide useful insights into existing disclosure theories, which may help to explain why some empirical results have been inconsistent with the predictions of these theories. No similar attempts have been published in the accounting literature.
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Liu, Yang Stephanie, and Jessica Hong Yang. "A longitudinal analysis of corporate greenhouse gas disclosure strategy." Corporate Governance: The International Journal of Business in Society 18, no. 2 (April 3, 2018): 317–30. http://dx.doi.org/10.1108/cg-11-2016-0213.
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Purpose This paper aims to investigate the extent to which greenhouse gas (GHG)-sensitive companies in the FTSE 100 disclose carbon emission information in their annual reports and stand-alone reports during the period of 2004-2012 and how they respond to the launch of legally binding GHG-reduction schemes – the European (EU) Emission Trading Scheme (EU ETS) and the Climate Change Act (CCA). Design/methodology/approach A 42-item disclosure index is constructed to analyse the quality of corporate GHG disclosures. The authors initially chart the development of corporate GHG disclosure from 2004 to 2012, analyse the trend of disclosure development and compare variances for the convergence of disclosures. Subsequently the authors carry out a t-test to assess the significance of post-EU ETS and -CCA changes and the difference between GHG trading account holders (AH) and non-account holders (NAH). Findings The results show that GHG disclosures have been increasing over time, both in number of firms making disclosures and in the amount of information being reported, which indicate the movement towards normativity. The authors also find that the disclosures reach the peak after the enactment of EU ETS and CCA, and firms with carbon trading accounts are more responsive to these schemes than those without accounts. Nevertheless, the quality of the disclosure remains low, which may justify the further government intervention of mandating carbon reporting. Originality/value This is the first paper that has examined the regulatory effects on GHG disclosures in an environment where GHG emission triggers direct cost for companies.
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Tello, Edward, James Hazelton, and Shane Vincent Leong. "Australian corporate political donation disclosures." Accounting, Auditing & Accountability Journal 32, no. 2 (February 18, 2019): 581–611. http://dx.doi.org/10.1108/aaaj-04-2016-2515.
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Purpose A primary tool for managing the democratic risks posed by political donations is disclosure. In Australia, corporate donations are disclosed in government databases. Despite the potential accountability benefits, corporations are not, however, required to report this information in their annual or stand-alone reports. The purpose of this paper is to investigate the quantity and quality of voluntary reporting and seek to add to the nascent theoretical understanding of voluntary corporate political donations. Design/methodology/approach Corporate donors were obtained from the Australian Electoral Commission database. Annual and stand-alone reports were analysed to determine the quantity and quality of voluntary disclosures and compared to O’Donovan’s (2002) legitimation disclosure response matrix. Findings Of those companies with available reports, only 25 per cent reported any donation information. Longitudinal results show neither a robust increase in disclosure levels over time, nor a clear relationship between donation activity and disclosure. The findings support a legitimation tactic being applied to political donation disclosures. Practical implications The findings suggest that disclosure of political donations in corporate reports should be mandatory. Such reporting could facilitate aligning shareholder and citizen interests; aligning managerial and firm interests and closing disclosure loopholes. Originality/value The study extends the literature by evaluating donation disclosures by companies known to have made donations, considering time-series data and theorising the findings.
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Ganu, Josephine, and Hannah Fosuaa Amo. "A systematic review of corporate carbon accounting and disclosure practices: Charting the path to carbon neutrality." Journal of Research in Emerging Markets 2, no. 4 (October 7, 2020): 68–81. http://dx.doi.org/10.30585/jrems.v2i4.547.
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The study examined the theoretical motivation for carbon disclosure and its adequacy for deliberate responsible action. Generally, there is an increase in corporate carbon disclosures in the business sector. Organizations are mostly disclosing their carbon emissions through annual reports, integrated reports, or stand-alone sustainability reports for different reasons and motives. However, the study infers that the quality and adequacy of the current disclosures are debatable due to a lack of consistency and technical details. The causal reason may be due to the inherently voluntary nature of the corporate carbon disclosure. The study finds that there is less research on carbon accounting and disclosures in developing countries especially, in Africa. There is a need for organizations to streamline the application and approaches to carbon accounting. The study suggests the necessity for government regulators and standard setters in accounting to provide a framework that will guide carbon disclosure practices.
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Hasan, Iftekhar, Liang Song, Meisong Zhan, Peng Zhang, and Zhaoguo Zhang. "Corporate disclosure and financing arrangements." Asian Review of Accounting 23, no. 2 (July 17, 2015): 139–55. http://dx.doi.org/10.1108/ara-01-2014-0020.
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Purpose – The purpose of this paper is to explore how firms’ disclosure standards influence the syndicated loan market, with an emphasis on loan syndicate structure and composition. Design/methodology/approach – To empirically investigate the effects of corporate disclosure on bank loan syndicate structure and composition, the authors hand-match Dealscan, Worldscope, and other databases and construct a sample across 11 emerging markets. Findings – The authors found that lead banks retain less ownership and form a less-concentrated loan syndicate when borrowers have superior disclosure policies. The authors also concluded that lead banks select more foreign participants in a loan syndicate and these members retain more ownership when borrowers have high disclosure rankings. Finally, the authors present evidence that the relationship between corporate disclosure and bank loan syndicates is more significant for firms with better governance. Originality/value – The findings suggest that corporate disclosure has a significant influence on financing arrangements, even in a weak governance environment.
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McKinnon, Jill. "Corporate disclosure regulation in Australia." Journal of International Accounting, Auditing and Taxation 2, no. 1 (January 1993): 1–21. http://dx.doi.org/10.1016/1061-9518(93)90012-i.
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ElKelish, Walaa Wahid, and Mostafa Kamal Hassan. "Corporate governance disclosure and share price accuracy." Journal of Applied Accounting Research 16, no. 2 (September 14, 2015): 265–86. http://dx.doi.org/10.1108/jaar-02-2013-0015.
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Purpose – The purpose of this paper is to investigate the impact of corporate governance disclosure on share price accuracy of listed companies in the United Arab Emirates (UAE). Design/methodology/approach – Data on corporate governance disclosure were obtained from the financial statements of companies listed in the UAE stock market, and share price accuracy indices were crafted from each company’s weekly share price returns between 2008 and 2009, using generalized least squares regression analysis. Multiple regression analysis with fixed effects was then implemented to test the study hypotheses. Findings – Voluntary corporate governance disclosure has a significant positive impact on share price accuracy. There is also evidence that mandatory corporate governance disclosure plays an important positive role on share price accuracy in the UAE business environment. Research limitations/implications – This paper covers a two-year transitional period during implementation of a new corporate governance code in the emerging market of the UAE. Practical implications – This paper encourages corporate managers in the UAE, as well as in other countries with similar business conditions, to review their voluntary corporate governance disclosure policies in accordance with international good practice. The authors suggest that regulators and accounting standard setters should extend mandatory corporate governance disclosure rules for the benefit of stock market participants and the overall welfare of the economy. Originality/value – This paper extends the literature on the relationship between accounting disclosure and share price accuracy to include corporate governance disclosure in emerging market economies such as the UAE. It also shows the importance of both voluntary and mandatory corporate governance disclosure.
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Adejuwon, Ayodeji Matthew, Felix Olurankinse, and Olugbenga Jinadu. "Corporate Determinants and Human Resource Accounting Disclosure of Listed Banks in Nigeria." International Journal of Human Resource Studies 10, no. 4 (November 25, 2020): 303. http://dx.doi.org/10.5296/ijhrs.v10i4.17873.
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The study investigates whether a significant relationship exists between corporate determinants and human resource accounting disclosure of selected banks in Nigeria. It also looks at whether human resource accounting disclosure is influenced by banks profitability, firm size and listing age. Data were obtained from the annual reports and corporate websites of the selected banks for the periods between 2014 and 2018. In testing the research hypotheses, the study engaged the use of panel least square regression in analysing the data. The findings revealed that there is a significant positive relationship between profitability, firm size and human resource accounting disclosure. However, listing age exhibited no relationship with human resource accounting disclosure. The study recommends that listed banks in Nigeria should be encouraged to mandatorily disclose human resource accounting information so as to enhance their social reputation and reduce the potential agency costs. Also, the study contributes to the existing models, in terms of depicting specific attributes that measure the determinants of human resource accounting disclosure of listed banks in Nigeria.
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Savage, Arline, and Joseph H. Callaghan. "Animal Testing and Legitimization: Evidence of Social Investment and Corporate Disclosure." Accounting and the Public Interest 7, no. 1 (January 1, 2007): 93–123. http://dx.doi.org/10.2308/api.2007.7.1.93.
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Little research has been done concerning the disclosure of animal testing in annual reports. We posit that companies receive pressure from two groups to disclose animal testing practices: social/political activists and financial intermediaries (fund managers). We describe a legitimization framework culminating in corporate social disclosures on animal testing in annual reports and we use legitimacy theory to inform our empirical investigation of animal testing disclosures. The results reveal a significant increase in number and intensity of disclosures over the period considered. These disclosures also reflect a change in the nature of the underlying firm behavior in a manner consistent with legitimacy theory and predictions of our legitimization framework. We find that political/social activists appear to be more effective in their legitimizer role than financial intermediaries. Further, exploratory analyses reveal that some socially-responsible mutual fund managers invested in companies that perform animal testing, despite it allegedly being a screening criterion. In light of these findings, we suggest ways in which animal rights organizations could advocate to further improve corporate behavior with regard to animal testing.
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Qu, Wen, Mong Shan Ee, Li Liu, Victoria Wise, and Peter Carey. "Corporate governance and quality of forward-looking information." Asian Review of Accounting 23, no. 1 (May 5, 2015): 39–67. http://dx.doi.org/10.1108/ara-03-2014-0029.
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Purpose – The purpose of this paper is to investigate the association between corporate governance mechanisms and quality of forward-looking information in the Chinese stock market which presents a mandatory disclosure environment for forward-looking information. Design/methodology/approach – Using sales forecasts to proxy forward-looking information and using precision and accuracy to measure the quality of information disclosure, the authors investigate the impact of corporate governance attributes on the precision and accuracy of sales forecasts made by listed Chinese firms in their 2010 annual reports, using logistics and ordinary least squares regressions. Findings – The authors find good corporate governance has a positive and significant impact on the precision choice of sales forecasts disclosure. Firms with good corporate governance are more likely to disclose more precise sales forecasts than providing qualitative discussions on firms’ sales trend. In addition, good corporate governed firms are found more likely to provide precise non-financial information. The authors also find that good corporate governance is positively associated with making more conservative sales forecasts disclosure. However, the authors find no significant relationship between good corporate governance and smaller forecast error. Research limitations/implications – The study makes significant contributions to corporate disclosure literature. The authors investigate the determinants of the quality of forward-looking information in a mandatory disclosure regime while most forward-looking information disclosure literature have been conducted in a voluntary-based disclosure environment. The authors examine whether in a mandatory disclosure regime, corporate governance mechanisms can play a positive role in precision choices and accuracy of forward-looking information. Further, the study is the first to examine corporate governance and the quality of non-financial forward-looking information (sales target and production goal). The research findings therefore extend forward-looking information disclosure research from financial information to non-financial information. Practical implications – The empirical findings will provide regulators with evidence on the quality of forward-looking information in a mandatory disclosure regime and the influence of corporate governance on forward-looking disclosure. The properties of forward-looking information disclosure in China should be of interest to policy makers, investors and financial analysts in other international jurisdictions. Originality/value – The study investigates forward-looking information in a mandatory disclosure regime while most extant forward-looking information studies have been conducted in a voluntary disclosure environment. The study is the first to examine the quality of non-financial forward-looking information such as operational goals and plans, and to investigate the association between the quality of non-financial forward-looking information and corporate governance mechanisms. The research findings extend forward-looking information disclosure research from quantitative financial information to quantitative non-financial information.
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Ji, Maoli, Yuguang Ji, and Shulan Dong. "Environmental Accounting Information Disclosure Driving Factors: The Case of Listed Firms in China." Sustainability 14, no. 23 (November 28, 2022): 15797. http://dx.doi.org/10.3390/su142315797.
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This study explores factors that drive environmental accounting information disclosure (EAID) among corporations in China. Using a sample of 200 A-shared listed firms, we apply a structural equation model (SEM) and multiple linear regressions to examine how, and to what extent, external pressure, corporate performance and corporate governance affects the EAID of corporations. The results show that external pressure and corporate performance can significantly and positively affect corporate EAID. Regarding external pressure, government regulations, media pressure and loans are the most important driving factors, whereas profitability and sales ability are the most important ones among corporate performance factors. However, we found that governance factors have no significant impact on EAID. This paper enriches research on environmental accounting information disclosure and provides important insights for Chinese regulators into effective ways of fostering disclosures of environmental accounting information and raising corporate awareness of CSR fulfillment to ensure sustainable development.
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Wany, Eva, Siti Asiah Murni, and Kholidiah ,. "PENGARUH CORPORATE ENVIRONMENTAL PERFORMANCE DAN CORPORATE SOCIAL ACCOUNTING DISCLOSURE TERHADAP CORPORATE ECONOMIC PERFORMANCE." Media Riset Akuntansi, Auditing dan Informasi 13, no. 2 (May 3, 2017): 35. http://dx.doi.org/10.25105/mraai.v13i2.1742.
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<p>This research is aimed to recognize the effect of environmental performance and<br />environmental disclosure to Economic Value Added as economic performance<br />measurement by using some variables control such as, profit margin, ownership,<br />environmental concern, and market performance. The type of research done is the<br />type of research by using hypothesis testingwhich is a research in explaining the<br />relation phenomena between variable. The data used in this research is from the<br />annual financial report and also the continued report of manufactured company<br />listed in BEI and PROPER in 2009-2012 with 17 companies. Analysis hypothesis<br />used in this research is multy linear regression and before doing the test, the classic<br />asumption test of the data has been done. The analysis shows that environmental<br />performance and and social accounting disclosureaffect to Economic Value Added<br />as the economic performance measurement. From the hypothesis, we can get the<br />result that environmental performance and social accounting disclosuredoesn’t<br />give any effect to the economic performance, but The testing result hypothesis shows<br />that environmental performance and social accounting disclosure jointly effect to<br />the economic performance.<br />Keywords: Environmental Performance, Social Accounting Disclosure, Economic<br />Performance,</p>
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Nayak, Priyanka, and Narayan Kayarkatte. "Concept of Education for Corporate Sustainability Disclosures – An Emerging Need." RESEARCH REVIEW International Journal of Multidisciplinary 7, no. 12 (December 14, 2022): 36–45. http://dx.doi.org/10.31305/rrijm.2022.v07.i12.006.
Повний текст джерелаАнотація:
Purpose: The purpose of this paper is to broaden the concept of Education for Corporate Sustainability Disclosures and describe its meaning and significance in the present-day Higher Education. The paper studies the literatures published by the researchers in the related areas and arrives at the conceptualisation of a new sub area for future research. It is an emerging need for the future management and accounting professionals, to imbibe the corporate sustainability disclosure aspects as Sustainability Disclosures by Corporates are being mandated in several nations across the globe. Methodology: This paper studies the existing literature to propose a new concept submerging the concept of Education for Sustainable Development (ESD) And Corporate Sustainability Disclosures (CSD). Using the Keyword and Boolean search method in Google Scholar the related articles published in various journals is considered for the study. Findings: Education for CSD is becoming the need of the hour, as it is being highlighted in past several research. ‘Corporate Sustainability Disclosures’ is broader in scope and dimension as compared Sustainability accounting and hence can be adapted to a wider stream of courses rather than professional accounting alone. Originality/ Value: This paper tries to throw light on the Education for Corporate Sustainability Disclosures by the Higher Educational Institutions, with special focus to the Management, Commerce and Accounting streams of study.
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et al., Pereira. "Environmental sustainability disclosure and accounting conservatism." International Journal of ADVANCED AND APPLIED SCIENCES 8, no. 9 (September 2021): 63–74. http://dx.doi.org/10.21833/ijaas.2021.09.009.
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In this article, we analyzed whether the level of accounting conservatism of a firm is affected by its environmental sustainability information disclosure. For that purpose, we developed two Environmental Disclosure Indices (EDI), one obtained from the mandatory reporting (annual report) and the other from the voluntary reporting (sustainability report), and compared the effects on conditional conservatism. Content analysis was used to develop two indices to evaluate the level of environmental disclosures. Moreover, the technique of multiple linear regression, using panel data, was applied to provide original empirical evidence for Portuguese companies listed on the stock exchange. We found evidence that higher environmental sustainability information disclosure enhances the conservative accounting practice, which is consistent with the argument that a higher level of Corporate Social Responsibility tends to increase financial statements transparency. In addition, we found that environmental information disclosed in specific and voluntary reporting has a superior impact on the level of conditional conservatism. These results showed that managers tend to engage in earnings management activities by being more accounting conservative in order to meet shareholders' expectations and disclose higher levels of environmental information. Therefore, this article brings some insights to the debate about the usefulness of accounting conservatism and the contribution of sustainability goals to monitor and guide managers’ activities.
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Muiño, Flora, and Manuel Núñez-Nickel. "Multidimensional Competition and Corporate Disclosure." Journal of Business Finance & Accounting 43, no. 3-4 (March 2016): 298–328. http://dx.doi.org/10.1111/jbfa.12195.
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Felo, Andrew J. "Board Oversight of Corporate Ethics Programs and Disclosure Transparency." Accounting and the Public Interest 7, no. 1 (January 1, 2007): 1–25. http://dx.doi.org/10.2308/api.2007.7.1.1.
Повний текст джерелаАнотація:
For a number of years, groups such as the Jenkins Committee and the SEC have taken steps to make corporate activities more transparent to investors. In addition, the Sarbanes-Oxley Act requires publicly traded firms to disclose whether they have adopted codes of ethics for their senior financial officers. An implicit assumption is that ethics codes will help firms develop more transparent disclosure policies by enhancing their internal control environments. However, past research (Felo 2000) provides evidence that board involvement in the development, implementation, and maintenance of codes is an important factor in whether ethics codes are related to stronger internal control environments. Using results from Standard and Poor's survey of transparency and disclosure (Patel and Dallas 2002), I find that firms having ethics programs overseen by their boards disclose more overall information, financial information, and board and management information than do other firms. Additionally, they are more likely to disclose information recommended by the Jenkins Committee and to voluntarily provide information recently mandated by the SEC. Although my evidence only demonstrates an association between board oversight of ethics programs and disclosure transparency, it does support mandating greater board involvement in corporate ethics programs as a way to enhance corporate disclosure transparency.
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Liu, Qiao, and Charl de Villiers. "Does the provision of voluntary corporate social responsibility disclosure influence the cost of equity capital? Evidence from Australia and the United Kingdom." Corporate Ownership and Control 8, no. 4 (2011): 201–13. http://dx.doi.org/10.22495/cocv8i4c1p6.
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The practice of managers of firms making voluntary social disclosures has become widespread. Corporate ownership (shareholders) will be interested to know whether these voluntary social disclosures affect them by influencing the firm’s cost of equity capital. This study investigates the relationship between the voluntary corporate social responsibility disclosure of Australian and UK firms, based on the 2008 KPMG International Survey of Corporate Social Responsibility Reporting and the cost of equity capital based on the Botosan and Plumlee (2005) model. Using a sample of 59 firms ranked in the top 100 of Australian and UK firms, we find that firms making voluntary corporate social responsibility disclosure in compliance with the Global Reporting Initiative Guidelines are associated with an increased cost of equity capital. Our main results are robust to several alternative measures of voluntary corporate social responsibility disclosure. These results can be attributed to two reasons. Firstly, firms making voluntary corporate social responsibility disclosure provide information that allows certain traders to make judgments about a firm’s performance that are superior to the judgments of other traders. As a result, there may be more information asymmetry amongst traders. Secondly, shareholders consider that the information production and proprietary costs associated with voluntary corporate social responsibility disclosure outweighs its potential benefits. Both explanations suggest that investors will impose a higher cost of equity on firms making voluntary corporate social responsibility disclosure. In the additional tests, we show that our main results are robust to alternative measures of voluntary corporate social responsibility disclosure.
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Wu, Xulei, Qingquan Shi, Siyu Yang, and Lele Ji. "Problems and Countermeasures of Environmental Accounting Information Disclosure in Heavy Polluting Enterprises." Frontiers in Business, Economics and Management 5, no. 2 (September 26, 2022): 108–12. http://dx.doi.org/10.54097/fbem.v5i2.1742.
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As the society pays more and more attention to sustainable development, the state requires heavily polluting enterprises to disclose environmental accounting information. Based on the necessity of environmental accounting information disclosure, the paper points out the problems existing in the environmental information disclosure of Chinese enterprises, such as inconsistent disclosure methods , weak awareness of environmental protection , insufficient government supervision and lack of relevant accounting talents, and proposes corresponding standardization Information disclosure methods , improving corporate environmental awareness , increasing government supervision and solutions for improving the capabilities of professionals.
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Tanjung, Fikry, Rina Br Bukit, and Khaira Amalia Fachrudin. "The Effect of Accounting Disclosure and Environmental Performance, Company Size and Corporate Social Responsibility Disclosure on the Value of Mining Companies Listed on the Indonesia Stock Exchange 2015-2019." International Journal of Research and Review 8, no. 4 (April 19, 2021): 149–60. http://dx.doi.org/10.52403/ijrr.20210421.
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This study analyzes the effect of environmental accounting disclosure, environmental performance disclosure, company size, and corporate social responsibility disclosure on firm value in mining companies listed on the IDX. This study uses an associative clause design. This research's population and sample are mining companies that publish annual reports and sustainability reports during 2015-2019, totaling 18 mining companies using the purposive sampling method. The number of analysis units used is 90. This study's type of data is secondary data obtained from the IDX website, namely www.idx.co.id. The data analysis technique uses multiple linear regression analysis using the eViews 10 application program. This study indicates that simultaneously environmental accounting disclosure, environmental performance disclosure, company size, and corporate social responsibility disclosure of firm value. However, partially, environmental accounting disclosure has a positive and insignificant effect on firm value, environmental performance disclosure has a negative and insignificant effect on firm value, firm size has no significant positive effect on firm value, and disclosure of corporate social responsibility has a negative but significant effect on firm value. Keywords: Firm Value, Environmental Accounting Disclosure, Environmental Performance Disclosure, Company Size, Corporate Social Responsibility Disclosure.
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Abou-El-Sood, Heba, and Dalia El-Sayed. "Abnormal disclosure tone, earnings management and earnings quality." Journal of Applied Accounting Research 23, no. 2 (January 6, 2022): 402–33. http://dx.doi.org/10.1108/jaar-07-2020-0139.
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PurposeThe authors investigate whether abnormal tone in corporate narrative disclosures is associated with earnings management and earnings quality, in an emerging market context. Based on agency theory and opportunistic/impression management perspective, this study examines whether executives manage disclosure tone to support their opportunistic behavior, when using earnings management.Design/methodology/approachThis study uses a sample of earnings press releases of publicly traded firms in the MENA region during 2014–2019. It employs textual analysis to measure disclosure tone. The authors estimate abnormal disclosure tone after controlling for firm characteristics. Discretionary accruals proxy for earnings management and are estimated using Modified Jones model. Earnings quality is measured using accounting-based and market-based proxies: earnings smoothness, persistence, predictability and value relevance/informativeness.FindingsResults show a positive association between abnormal disclosure tone and earnings management. Additionally, results show that earnings persistence is higher for firms with lower levels of abnormal disclosure tone. Results are sustained for earnings smoothness, but not for predictability and value relevance/informativeness.Research limitations/implicationsResults provide initial evidence of management's use of tone management jointly with earnings management. This adds to prior studies adopting the opportunistic perspective of disclosure tone, through showing that discretionary tone in narrative disclosures can be strategically used by management to influence investors' perceptions.Practical implicationsThe results provide valuable insight to board of directors, auditors and market participants on the possible biases emerging from tone of narrative disclosures in corporate reports. For regulators and standard-setters, results shed light on the need for regulations and rules beyond financial statements, to guide disclosure of narrative information in different corporate reports.Originality/valueThis study contributes to the rare evidence that investigates textual disclosure characteristics to uncover management's opportunistic practices and assess earnings quality. Where majority of studies concentrate on developed markets, this study provides novel evidence of emerging markets by examining the association between abnormal disclosure tone and earnings management/earnings quality. Also, it validates the tone management model proposed by Huang et al. (2014) for capturing tone manipulation.
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Ahmad, Syahrul Ahmar, Noraisah Sungip, Halil Paino, and Rahimah Mohamed Yunos. "Whistleblowing Policy Disclosure among Malaysian Listed Shariah-Compliant Companies." 13th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES 13, no. 1 (June 16, 2022): 1. http://dx.doi.org/10.35609/gcbssproceeding.2022.1(73).
Повний текст джерелаАнотація:
According to Islamic beliefs, commercial operations must be directed by fairness, equality, and morality, as dictated by Shariah requirements. As a result, Shariah-compliant companies must include a religious dimension in their disclosures for the benefit of Muslim stakeholders. Recent research on these Shariah-compliant corporations has focused on their corporate social responsibility disclosures (Said et al., 2018) or the quality of these companies' voluntary disclosure policies in Malaysia (Ousama & Fatima, 2010). The Islamic perspective of disclosure is based on the concept of social accountability and the full disclosure concept (Baydoun and Willett, 1997, Haniffa and Hudaib, 2002). In Islamic accounting, the companies are said to be accountable to the society (Baydoun and Willett, 1997) hence they should disclose information, which can help discharge this accountability. As such, Haniffa and Hudaib (2002) argued that the full disclosure of relevant and reliable information is needed to allow users in making both economic and religious decisions while fulfilling their accountability to God and society. However, studies have shown that the level of disclosures of these Sharia-compliant companies is low (Che Azmi et al., 2016; Ousama & Fatima, 2010) and the findings were unexpected as these types of companies are generally expected to disclose more information voluntarily. Keywords: corporate governance, disclosure level, whistleblowing policy.
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Morris, Richard D., and Per Christen Tronnes. "The determinants of voluntary strategy disclosure: an international comparison." Accounting Research Journal 31, no. 3 (September 3, 2018): 423–41. http://dx.doi.org/10.1108/arj-10-2015-0126.
Повний текст джерелаАнотація:
Purpose The purpose of this paper is to examine the roles of country-level characteristics versus firm-level characteristics in explaining variations in firms’ voluntary strategy disclosures. Design/methodology/approach Strategy disclosure in annual reports is measured using an index of 40 items derived from the strategy literature. The sample is 204 large companies from 12 Asian and European countries in 2005. The disclosure index is subdivided into four underlying latent constructs using principal components analysis. The authors then use OLS regression to test whether total disclosure score, and the latent constructs are associated with country-level characteristics and firm-level characteristics. Findings The authors find that total strategy disclosures are more prevalent in stakeholder-oriented countries, in countries with greater levels of financial transparency, but are less prevalent in countries with a culture of secrecy, and strategy disclosures are more likely to occur in companies with greater economic incentives to disclose, with a Big 4 auditor or which are listed in New York. These findings also occur but not as consistently with the four latent constructs. Research limitations/implications The sample used in this paper comprises large public companies, so the findings may not be generalisable to all companies. Nevertheless, the findings demonstrate that both country- and firm-level variables matter in explaining voluntary strategy disclosure. Practical implications The IASB released an IFRS Practice Statement in 2010, which recommends, but does not require, disclosure of information about corporate strategy in Management Commentary statements. The findings of this paper may help inform the issue of whether regulators should make strategy disclosures mandatory. Originality/value The paper contains the first detailed examination of the roles of country-level characteristics versus firm-level characteristics in explaining variations in corporate voluntary strategy disclosures.
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Cho, Seong-Yeon, Pyung Kyung Kang, Cheol Lee, and Cheong Park. "Financial Reporting Conservatism and Voluntary CSR Disclosure." Accounting Horizons 34, no. 2 (March 11, 2020): 63–82. http://dx.doi.org/10.2308/horizons-17-093.
Повний текст джерелаАнотація:
SYNOPSIS This paper examines whether a firm's degree of conservatism in financial reporting is associated with its voluntary nonfinancial corporate social responsibility (CSR) disclosures and the stock price reaction to such disclosures. Theoretical and empirical studies find that the amount of voluntary disclosures and their credibility vary depending on the degree of financial reporting conservatism. We expand this line of questioning and find that firms that adopt conservative financial reporting are less likely to disclose CSR information. Further analyses show that the market reaction to a firm's CSR disclosure is reduced when its financial reporting is more conservative. Our evidence suggests that the quantity and quality of CSR disclosures are associated with the degree of accounting conservatism. Therefore, stakeholders should consider a firm's financial reporting policies when interpreting CSR disclosures. JEL Classifications: M40; M41. Data Availability: The data used in this study were taken from public sources identified in the paper.