Manager perception and proprietary investment disclosure

Rawson, Caleb

doi:10.1007/s11142-021-09629-1

Cited by 21 publications

(4 citation statements)

References 65 publications

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“…In a way comparable to that of Adam et al (2015), Alqatamin et al (2017), and Sumunar and Djakman (2020), the levels of self-assurance possessed by CEOs have an effect on the degree to which their respective businesses are transparent. The correlation between overconfidence and corporate disclosure is explored, and the results are comparable with those obtained by Rawson (2021). Researchers discovered that CEOs' overconfidence was linked to how much information their organizations were willing to share.…”

Section: Discussionmentioning

confidence: 75%

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Enterprise Risk Management Disclosure and Ceo Characteristics: An Empirical Study of Go Public Companies in Indonesia

Trisnawati,

Mustikawati,

Sasongko

2023

Business: Theory and Practice

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Organizations can use enterprise risk management disclosures to share financial and non-financial risk information with external stakeholders. Chief Executive Officer (CEO) has a key role in enterprise risk management. This study examines the relationship between Indonesian CEOs’ characteristics and enterprise risk management disclosure. Purposive sampling is the basis for the process of gathering samples from the population. The research was conducted in 2020 and consisted of 475 non-financial Indonesian companies that were listed on the Indonesian Stock Exchange. The findings of previously released annual reports may be found on the websites of both the Indonesia Stock Exchange and individual companies. These secondary sources were used to compile the study data. The ISO framework index 31000:2018 is utilized to evaluate the Enterprise risk management (ERM) disclosure. Eviews10’s implementation of multiple regression serves as the basis for the analysis. The findings indicate that CEO overconfidence and CEO tenure influence enterprise risk management disclosure, while CEO financial expertise and CEO gender did not have an effect on enterprise risk management disclosure. The innovation of this research is investigating CEOs’ characteristics by psychological characteristics, namely CEO overconfidence and measurement of ERM disclosure based on the ISO 31000:2018 framework which is the latest standard of risk management.

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Section: Discussionmentioning

confidence: 75%

“…FLI disclosure in Indonesian manufacturing enterprises was studied by Mardani et al (2020) who looked at how director qualities affected FLI disclosure. By analysing narrative R&D disclosures and CEO overconfidence, Rawson (2021) analyses the influence of management perception in proprietary disclosure decisions.…”

Section: Introductionmentioning

confidence: 99%

Enterprise Risk Management Disclosure and Ceo Characteristics: An Empirical Study of Go Public Companies in Indonesia

Trisnawati,

Mustikawati,

Sasongko

2023

Business: Theory and Practice

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“…We control for the natural logarithm of total assets ( SIZE ), leverage ( LEV ), profitability ( ROE ), firms’ operating cash flows ( CFO ) and book-to-market ratios ( BM ), the nature of firm ownership ( SOE ), the shareholding ratio of the largest shareholder ( TOP1 ), the shareholding ratio of the second to tenth largest shareholders ( TOP2_10 ), CEO duality ( DUAL ) and executive compensation ( SALARY ). Then, referring to literature on corporate private disclosure (Verrecchia, 1983; Clinch and Verrecchia, 1997; Giroud and Mueller, 2011; Huang et al , 2017; Rawson, 2022), we take corporate proprietary information costs into account and control for product market competition, which is measured by Herfindahl–Hirschman Index ( HHI ) and four-firm concentration ratio ( CR_4 ). In addition, we also control for regional characteristics to avoid omitted variable bias, including the mean disclosure level of firms within each city ( MEAN_EDI ), the frequency of environmental words in regional government work reports ( ENVATTENTION ), regional PM 2.5 concentration ( PM2.5 ) and the intensity of environmental regulation in each province ( ENVREGULATE ).…”

Section: Methodsmentioning

confidence: 99%

Automatic air pollution monitoring and corporate environmental disclosure: a quasi-natural experiment from China

Chen

Liu

Yang

et al. 2023

SAMPJ

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Purpose This study aims to investigate the role of regional environmental transparency on corporate environmental disclosure. Design/methodology/approach This study uses the introduction of a nationwide automated air pollution monitoring network in China as a quasi-natural experiment and employs regression analysis. Robustness checks, including parallel trend test and placebo test, are performed to test the robustness of the results. Findings Sharing air pollution data with the public can improve corporate environmental disclosure. Firms with poorer environmental, social and governance (ESG) performance prefer to disclose less informative information after the automated network is implemented compared with firms with better ESG performance. The relationship between information sharing and corporate environmental transparency is more pronounced when local air pollution is severer, firms face stronger investor scrutiny and firms are from heavily polluting industries. The mechanism tests suggest the automated system can draw public environmental attention and improve governments’ aspiration for environmental governance. Finally, corporate environmental disclosure can reduce stock price crash risk and cost of equity. Practical implications Real-time pollution data reporting is an important solution to raising public environmental awareness and then enhancing the effectiveness of pollution control. Social implications This study has implications for policy-making regarding environmental governance and environmental disclosure. Originality/value This study confirms that pollution information transparency can motivate firms to increase environmental disclosure.

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“…Recent studies shed much light on the consequences of mandated innovation information disclosure required by the AIPA (Chondrakis et al, 2020;Kim & Valentine, 2021;Saidi & Žaldokas, 2021). Since innovation-related information is viewed as proprietary information (Berger, 2011;Koh & Reeb, 2015;Rawson, 2022), our research responds to the call by Beyer et al (2010) to investigate the consequences of proprietary information disclosure. The crowding-out effects on peer rivals' innovation output documented in this study reveal an unexpected negative externality of innovation information disclosure in M&As.…”

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confidence: 99%

The crowding‐out effects of innovation information disclosure on peers' innovation: Evidence from innovation‐driven M&As in China

Cao

Hua

Tong

et al. 2023

Accounting & Finance

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This study investigates the impact of rivals' announcements of innovation‐driven mergers and acquisitions (M&As) on focal firms' ex‐post corporate innovation performance. Exploiting a hand‐collected dataset of Chinese listed firms from 2011 to 2018, we find that focal firms file fewer patents after rivals' announcements of innovation‐driven M&As. Further analyses show that focal firms become more conservative and hold more cash when rivals intend to obtain innovation resources through M&As. We find that such crowding‐out effects are more pronounced for focal firms that are more financially constrained, those facing higher competition, those whose rivals are industry leaders, and those operating in traditional industries.

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Manager perception and proprietary investment disclosure

Cited by 21 publications

References 65 publications

Enterprise Risk Management Disclosure and Ceo Characteristics: An Empirical Study of Go Public Companies in Indonesia

Enterprise Risk Management Disclosure and Ceo Characteristics: An Empirical Study of Go Public Companies in Indonesia

Automatic air pollution monitoring and corporate environmental disclosure: a quasi-natural experiment from China

The crowding‐out effects of innovation information disclosure on peers' innovation: Evidence from innovation‐driven M&As in China

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