An empirical analysis of the determinants of the extent of disclosure in annual reports of joint stock companies in the Czech Republic

Patton, James M.; Zelenka, Ivan

doi:10.1080/09638189700000003

Cited by 104 publications

(84 citation statements)

References 6 publications

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“…Profi tability is marginally positively related to levels of IC disclosure (t-statistics = 1.509; p < 0.10). This is consistent with previous studies, including Singhvi and Desai (1971) and Patton and Zelenka (1997), who fi nd a signifi cant relationship between profi tability and the level of disclosure of information.…”

Section: 000supporting

confidence: 82%

Kesan Etnik ke atas Pelaporan Modal Intelek

Hamzah¹,

Saleh²,

Mohamed³

2015

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Section: 000supporting

confidence: 82%

Kesan Etnik ke atas Pelaporan Modal Intelek

Hamzah¹,

Saleh²,

Mohamed³

2015

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“…Prior works on the determinants of voluntary disclosure have been conducted in several countries: France (Depoers, 2000); Hong Kong (Wallace & Naser, 1995), Japan (Cooke, 1992), Malaysia (Hossain, Tan, & Adams, 1994), the Czech Republic (Patton & Zelenka, 1997), Sweden (Cooke, 1989) and Switzerland (Raffounier, 1995).…”

Section: Introductionmentioning

confidence: 99%

Discretionary-based disclosure: evidence from the Brazilian market

Murcia

Santos

2012

BAR, Braz. Adm. Rev.

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The primary objective of this paper is to identify the factors that explain Brazilian companies" level of voluntary disclosure. Underpinning this work is the Discretionary-based Disclosure theory. The sample is composed of the top 100 largest non-financial companies listed in the Bolsa de Valores de São Paulo (Brazilian Securities, Commodities, and Futures exchange -BOVESPA). Information was gathered from Financial Statements for the years ending in 2006, 2007, and 2008, with the use of content analysis. A disclosure framework based on 27 studies from these years was created, with a total of 92 voluntary items divided into two dimensions: economic (43) and socio-environmental (49). Based on the existing literature, a total of 12 hypotheses were elaborated and tested using a panel data approach. Results evidence that: (a) Sector and Origin of Control are statistically significant in all three models tested: economic, socio-environmental, and total; (b) "Profitability" is relevant in the economic model and in the total model; (c) Tobin"s Q is relevant in the socio-environmental model and in the total disclosure model; (d) Leverage and Auditing Firm are only relevant in the economic disclosure model; (e) Size, Governance, Stock Issuing, Growth Opportunities and Concentration of Control are not statistically significant in any of the three models.

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“…Few studies have conducted a direct empirical investigation on MVBV and disclosure. Patton and Zelenka (1997) found no significant relationship between mandatory disclosure and percentage of IA. The explanations were based on signalling theory however, little IA have been regulated as such the lack of a link between accounting figures and IA may have restricted this study.…”

Section: Intellectual Capital Investmentmentioning

confidence: 52%

Influence of Intellectual Capital Investment, Risk, Industry Membership and Corporate Governance Mechanisms on the Voluntary Disclosure of Intellectual Capital by UK Listed Companies

Mkumbuzi¹

2015

ASS

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This research examines the cross-sectional effect of intellectual capital investment, financial measures of market and company specific risk, industry membership and corporate governance on the extent of voluntary disclosure of intellectual capital (VDIC) in a sample of 443 FTSE All Share Index company annual reports for the year 2003/2004. The extent of disclosure is measured by a disclosure index (DI) based on intellectual capital (IC) attributes included in the narratives and illustrations of the annual reports. The research predicts that agency costs are mitigated by VDIC and that the benefits of signalling IC may outweigh competitive and proprietary costs that may be more prevalent in innovative and technological companies; furthermore, that effective corporate governance measures enhance VDIC particularly in those companies found to have a higher level of intangible assets (IA) in their resource base. The results suggest that companies associated with less financial risk, reduced debt, higher levels of liquidity and accompanied by growth are characterised with higher levels of VDIC. Although less significant, the results on market risk indicate a positive influence on VDIC. Furthermore, the extent of VDIC in annual reports is enhanced when large companies operating in high-tech and innovative industries are characterised by investments in employees; in contrast, companies associated with research and development processes tend to be more secretive with respect to VDIC. The results suggest that companies that are able to maintain adequate governance systems through segregation of executive and non-executive duties and to a less extent through the presence of experienced non-executive directors exhibit higher levels of disclosure.

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An empirical analysis of the determinants of the extent of disclosure in annual reports of joint stock companies in the Czech Republic

Cited by 104 publications

References 6 publications

Kesan Etnik ke atas Pelaporan Modal Intelek

Kesan Etnik ke atas Pelaporan Modal Intelek

Discretionary-based disclosure: evidence from the Brazilian market

Influence of Intellectual Capital Investment, Risk, Industry Membership and Corporate Governance Mechanisms on the Voluntary Disclosure of Intellectual Capital by UK Listed Companies

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