scholarly journals Management decisions regarding the voluntary disclosure of information: the problem of the recognition of the firm’s intellectual capital and that of lenders’ information needs

2014 ◽  
Vol 11 (2) ◽  
pp. 251-263 ◽  
Author(s):  
Francesco Napoli
Keyword(s):  
Voluntary Disclosure ◽  
Information Needs ◽  
Stock Exchange ◽  
Financial Accounting ◽  
Voluntary Disclosures ◽  
Development Activity ◽  
Additional Information ◽  
Theoretical Predictions ◽  
Accounting Model ◽  
Analyse Data

We analyse data on Italian listed companies quoted on the Milan stock exchange which perform R&D (Research & Development) activity. We find there is a positive relationship between R&D activity and voluntary disclosures of additional information that: a) regards R&D assets in themselves, in line with theoretical predictions according to which voluntary disclosure makes up for shortcomings in the current financial accounting model; b) is relevant to lenders’ interests, in line with the fact that quoted Italian firms are highly dependent upon lenders. Owner-managers of quoted Italian firms show, moreover, a significant tendency to augment additional information provided to lenders in the event of losses (negative earnings)

scholarly journals Corporate Governance Mechanisms and Voluntary Disclosure

2020 ◽  
Vol 11 (2) ◽  
pp. 82
Author(s):  
Erwin Saraswati ◽  
Alfizah Azzahra ◽  
Ananda Sagitaputri
Keyword(s):  
Corporate Governance ◽  
Voluntary Disclosure ◽  
Family Firms ◽  
Stock Exchange ◽  
Annual Reports ◽  
Corporate Disclosure ◽  
Governance Mechanisms ◽  
Voluntary Disclosures ◽  
Corporate Governance Mechanisms ◽  
New Evidence

Corporate disclosure and corporate governance are two inseparable instruments of investor protection. This research sought to find evidence on how corporate governance mechanisms affect the extent of voluntary disclosures. Voluntary disclosures were measured using content analysis on published annual reports. The sample of this research consisted of 81 firm-year observations from 27 firms of consumer goods sector listed on Indonesian Stock Exchange from 2016 to 2018. Using multiple regression method, the result has shown that board size and board independence increase voluntary disclosures, indicating that the commissioners have effectively represented the interests of shareholders by monitoring and encouraging the management to increase disclosure. This research provided new evidence that family ownership increases voluntary disclosure, suggesting that family firms are more concerned by the costs of non-disclosure. Meanwhile, institutional ownership does not significantly affect voluntary disclosure. 

scholarly journals Peranan Karakteristik Dewan Direksi dan Struktur Kepemilikan dalam Pengungkapan Sukarela Perusahaan Publik Indonesia

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
Jessica Yeo ◽  
Meiliana Suparman
Keyword(s):  
Board Of Directors ◽  
Ownership Structure ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Size Composition ◽  
Fixed Effect Model ◽  
Foreign Ownership ◽  
Voluntary Disclosures

The objective of this study is to demonstrate that characteristics of the board of directors and ownership structure influence the level of voluntary disclosure. Board of directors’ characteristics include the board's size, composition, frequency of meetings, gender, expertise, and compensation. These attributes reflect the ownership structure, which includes foreign ownership, institutional ownership, and director ownership. Control variables include company size, firm age, leverage, profitability, and liquidity. This study utilized secondary data from 52 consumer goods companies listed on the Indonesia Stock Exchange for the period 2016 to 2020. In total, 228 observations were tested for hypotheses, after 32 outliers were removed from the data. The hypotheses were tested using panel regression with a Fixed Effect Model (FEM). The study found that all independent variables simultaneously have a significant impact on voluntary disclosures. According to the partial test (t-test), only the remuneration of directors and institutional ownership had a significant and positive effect on voluntary disclosures, while other variables had no significant impact. In addition, the foreign ownership variable had a significant affect on voluntary disclosure, however the direction is negative.

scholarly journals Pengaruh Efektivitas Komite Audit, Efektivitas Internal Audit dan Kualitas Audit terhadap Pengungkapan Sukarela

2020 ◽  
Vol 30 (4) ◽  
pp. 861
Author(s):  
Hanny Purnomo ◽  
Yustrida Bernawati
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Voluntary Disclosure ◽  
Audit Committee ◽  
Audit Quality ◽  
Stock Exchange ◽  
Internal Audit ◽  
Sampling Technique ◽  
Voluntary Disclosures ◽  
Purposive Sampling

The purpose of this study is to prove the truth, internal audit, internal audit, and audit quality on voluntary disclosures in companies listed on the Indonesia Stock Exchange for the period of 2016-2018. The sample was selected using a purposive sampling technique to obtain a sample of 100 companies, the hypothesis was taken using multiple linear regression. The results of this study prove the importance of audit audits, internal audits, and audit quality applied to company voluntary disclosures. Keywords: Effectiveness of Audit Committee; Internal Audit; Audit Quality; Voluntary Disclosure.

Impact of Voluntary Disclosure on Valuation of Firms: Evidence from Indian Companies

2020 ◽  
Vol 24 (2) ◽  
pp. 194-203
Author(s):  
B. Charumathi ◽  
Latha Ramesh
Keyword(s):  
Financial Reporting ◽  
Voluntary Disclosure ◽  
Firm Value ◽  
Positive Association ◽  
Financial Information ◽  
Significant Implication ◽  
Voluntary Disclosures ◽  
Additional Information ◽  
Panel Data Regression ◽  
Data Regression

This article investigates the effect of voluntary corporate disclosures on the firm value from the market value perspective. Financial reporting includes disclosures as prescribed by regulators, but few companies go beyond mandatory requirements and provide additional information voluntarily. This study empirically tests the extent of such voluntary disclosures using Corporate Voluntary Disclosure Index containing 81 items of both financial and non-financial information and panel data regression to test the hypotheses. The sample for this study is the non-financial companies in the BSE 100 Index and the period is five financial years from 2010–2011 to 2014–2015. This study finds a positive association between voluntary disclosures and firm value as measured by Tobin’s Q. Especially the market gives a higher valuation for companies disclosing optional information on social and environmental, corporate governance and financial information. This finding has a significant implication for emerging economies like India and it supports various disclosure theories such as agency, stakeholders and positive accounting theories.

scholarly journals Board and auditor interlocks and voluntary disclosure in annual reports

2014 ◽  
Vol 12 (2) ◽  
pp. 135-160 ◽  
Author(s):  
Geert Braam ◽  
Lex Borghans
Keyword(s):  
Voluntary Disclosure ◽  
Information Exchange ◽  
Stock Exchange ◽  
Ordinary Least Squares ◽  
Annual Reports ◽  
Voluntary Disclosures ◽  
Content Type ◽  
External Auditors ◽  
External Auditor ◽  
The Cross

Purpose – The purpose of this study is to explore whether interlock ties between the board of directors and the external auditors facilitate the cross-firm diffusion of voluntary disclosures in annual reports. Design/methodology/approach – Using a sample of 149 non-financial companies publicly listed on the New York Stock Exchange (NYSE) Euronext Amsterdam, we use ordinary least squares (OLS) regression analysis to examine the relationships between the incidence of financial and non-financial voluntary disclosures in the focal firms’ annual reports and the annual reports of other companies to which the firms are related via the interlock ties of its board members and external auditor. Findings – The results show significant associations between financial and non-financial voluntary disclosures in the focal and related firms’ annual reports when there were board interlocks. Differences in the diffusion of specific types of disclosures are found depending on the type of interlocking director. The results also show that interlock ties of the external auditors positively influence the associations with voluntary financial disclosures in the annual reports. Practical implications – We find clear indications that board and auditor interlocks form important sources of inter-organisational information exchange that can drive changes in voluntary disclosure practices in annual reports. The networks of social relationships between firms may play a significant incremental role in the cross-firm diffusion of corporate voluntary disclosure practices, particularly in complex and ambiguous situations. Originality/value – This paper is the first empirical study to investigate how board and external auditor interlock ties are related to the levels of financial and non-financial voluntary disclosures in the focal and related firms’ annual reports.

scholarly journals STUDI EMPIRIS TERKAIT DENGAN PENGUNGKAPAN SUKARELA, KUALITAS AUDIT DAN ASIMETRI INFORMASI TERHADAP STOCK RETURN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR PADA BURSA EFEK INDONESIA

2017 ◽  
Vol 21 (1) ◽  
pp. 1
Author(s):  
Jenny Sihombing ◽  
Sukrisno Agoes ◽  
Urip Santoso
Keyword(s):  
Information Asymmetry ◽  
Voluntary Disclosure ◽  
Stock Return ◽  
Audit Quality ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Voluntary Disclosures ◽  
The Impact ◽  
Time Information ◽  
Descriptive Method

This study used data of manufacturing companies listed on the Jakarta Stock Exchange (JSX) as   unit of analysis. The purpose of this study is to find out the influence of voluntary disclosures and audit quality on information asymmetry. This study also aims to determine the effect of voluntary disclosure, audit quality and information asymmetry on stock return. In addition, this study aims to find out the ability of information asymmetry to mediate the effect of voluntary disclosure and audit quality on information asymmetry.This research used verificative-descriptive method with quantitative approach. The analytical method used in statistical data processing was path analysis. There are 132 manufacturing companies listed on JSX became the research samples of this study.The testing results shows that there are significant impact of voluntary disclosure and audit quality on information asymmetry. The testing results also show that there are significant impact of voluntary disclosure and information asymmetry on stock return, while the audit quality has no significant impact on stock return. At the same time, information asymmetry is significant to be the mediating variable on the impact of voluntary disclosure and audit quality towards stock return. Voluntary disclosure, audit quality and information asymmetry can be the determinant variables on Stock Return of manufacturing companies, listed on JSX.

scholarly journals Bank Transparency and Risk Taking: Empirical Evidence from Tunisia

2016 ◽  
Vol 8 (5) ◽  
pp. 111 ◽  
Author(s):  
Raoudha Dhouibi ◽  
Abir Mabrouk ◽  
Emna Rouetbi
Keyword(s):  
Risk Taking ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Banking System ◽  
Market Discipline ◽  
Capital Adequacy ◽  
Financial Accounting ◽  
Necessary Condition ◽  
Basel Accord ◽  
The Impact

<p>An important unresolved issue in finance is the extent to which bank transparency promotes or undermines banking risk-taking. Financial accounting information is an essential component of transparency and a necessary condition for market discipline. This latter can be conceptualized as a market-based incentive scheme with which investors in banking securities penalize banks for greater risk-taking by asking for higher returns on their investments. However, in developing countries, where financial markets are insufficiently developed, the role of market discipline in limiting banks’ risk-taking may be restricted.</p>This paper examines the impact of transparency, as measured by voluntary disclosure of financial information, on the fragility of Tunisian banks. This study is motivated by the decision of the Central Bank of Tunisia to implement the directives of the second Basel Accord to improve the soundness and the safety of the Tunisian banking system. We examine a sample of ten Tunisian banks listed on the Stock Exchange of Tunis over the period 2000-2011. The results show that transparency has no effect on Tunisian banks’ risk-taking. Similarly, the results indicate that the capital adequacy ratio has no effect on the non-performing loans rate. These results may undermine the effectiveness of the guidelines of the Basel Committee agreements to reduce risk-taking by Tunisian banks.

Ownership Structure and Corporate Voluntary Disclosure: Evidence from Bahrain

2013 ◽  
Vol 3 (2) ◽  
pp. 133 ◽  
Author(s):  
Omar Issa Juhmani
Keyword(s):  
Ownership Structure ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Multiple Regression Model ◽  
Managerial Ownership ◽  
Government Ownership ◽  
Voluntary Disclosures ◽  
Listed Firms ◽  
Reporting Practices ◽  
Annual Reporting

The aim of this study is to examine the relationship between ownership structure variables and the level of voluntary information disclosures of companies listed on the Bahrain Stock Exchange. The ownership structure variables included in the multiple regression model, are blockholder ownership, managerial ownership, and government ownership. An analysis of annual reporting practices of Bahraini listed firms, shows that there is a significant negative association between blockholder ownership and voluntary disclosures. However, managerial ownership and governmental ownership, are not associated with voluntary disclosures. The results of the regression analyses show, that size and Leverage of firms are significantly and positively associated with the level of voluntary information disclosures. Profitability of a firm is not significantly associated with voluntary disclosures.

The Development of ASHS HortBase—A Global Information System

HortScience ◽  
1998 ◽  
Vol 33 (3) ◽  
pp. 552e-552
Author(s):  
James L. Green
Keyword(s):  
Information System ◽  
Information Needs ◽  
Standing Committee ◽  
Task Forces ◽  
Additional Information ◽  
Link Type ◽  
Dispersed System ◽  
Global Information System ◽  
Information File ◽  
International Standing

In 1997, the ASHS Board of Directors established ASHS HortBase as a Standing Committee of the Society. The ASHS HortBase Committee, a six-member Standing Committee and Chair, is charged to implement and maintain ASHS HortBase. The members of the ASHS HortBase Committee will be chair and chair-elect of the three HortBase Task Forces: 1) Finance and Marketing; 2) Standards—authoring, reviewing, and publishing; and 3) Technology. ASHS HortBase is a dispersed, dynamic horticultural information system (network) on the WWW comprised of peer—reviewed, concise, interlinked information modules to meet the information needs of instructors and students, gardeners and growers. A strong advantage and distinguishing characteristic of ASHS HortBase is our dynamic pool of potential authors, reviewers, and users (ASHS Extension, Industry, and Teaching membership) to continually evolve and update the peer-reviewed information in HortBase. We have the scholastic international standing to provide peer review and validation of the information and to recognition to the authors, coupled with the marketing to stimulate wide use of their information modules. ASHS HortBase is a dispersed system (dispersed development and server costs). The “dispersed cost” for information file development and updating and delivery on the respective authors' dispersed servers disperses the major costs of the HortBase information system. Additional information on ASHS HortBase and the papers presented at the 4-h Colloquium on HortBase at ASHS-97 can be found at http://[email protected] or contact me ([email protected], phone 541.737.5452, fax 541.737.3479).

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