The Evolving Disclosure Landscape: How Changes in Technology, the Media, and Capital Markets Are Affecting Disclosure

Miller, Gregory S.; Skinner, Douglas J.

doi:10.1111/1475-679x.12075

Cited by 409 publications

(163 citation statements)

References 78 publications

(118 reference statements)

Supporting

Mentioning

151

Contrasting

Unclassified

Order By: Relevance

“…Our study helps reconcile these results by finding that mainstream media coverage of earnings announcements motivates trading on nonaccounting signals, increasing volume and liquidity without speeding the pricing of accounting news. These findings respond to Miller and Skinner's [2015] question of how different types of media outlets affect different stakeholders.…”

Section: Introductionmentioning

confidence: 67%

Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs

Blankespoor

deHaan

Wertz

et al. 2018

J of Accounting Research

207

View full text Add to dashboard Cite

We investigate the frictions that impede individual investors’ use of accounting information and, in particular, their costs of monitoring and acquiring accounting disclosures. We do so using an archival setting in which individuals are presented with automated media articles that report both current earnings news and past stock returns. Although these investors have earnings information readily available, we find no evidence that their trades incorporate it. Instead we find that their trading responds to the trailing stock returns presented in the articles. Our study raises questions about the efficacy of regulations that aim to aid less sophisticated investors by increasing their awareness of and access to accounting information.

show abstract

Section: Introductionmentioning

confidence: 67%

Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs

Blankespoor

deHaan

Wertz

et al. 2018

J of Accounting Research

207

View full text Add to dashboard Cite

show abstract

“…With the advancement of information technology, there is increased interest in utilizing technology to not only mitigate information asymmetry but also improve information processing efficiency (Cong, Hao, & Zou, 2014). Researchers have examined whether and how the adoption of different presentation formats, such as tabular format or portable document format (PDF), may affect users' perception of company performance (Benbasat & Dexter, 1986;Frownfelter-Lohrke, 1998;Lymer, 1999;Clements & Wolfe, 2000;Cong et al, 2014;Miller & Skinner, 2015).…”

Section: Financial Reporting and Xbrlmentioning

confidence: 99%

A Graph Mining Approach to Identify Financial Reporting Patterns: An Empirical Examination of Industry Classifications

et al. 2018

View full text Add to dashboard Cite

This study proposes a quantitative method using the eXtensible Business Reporting Language financial accounting taxonomies to identify firms' common business characteristics and demonstrates that this graph mining approach can effectively identify industry boundaries. The premise of this method is based on the previous findings that financial accounts and the structural semantic information represented in financial statements reveal firms' general business operations and common characteristics if they have similar business models. Specifically, we introduce a graph similarity metric combined with spectral clustering algorithm to quantify the similarity of financial disclosures. Through industry classification comparison with the traditional classification schemes, the Standard Industrial Classification and the North American Industry Classification System, we show that the proposed method consistently clusters firms into their respective industries based on financial disclosures with significantly lower variance in a time‐varying fashion. This novel graph mining method provides an automated way for decision makers to identify common business operations as well as detecting potential financial fraud and uncovering accounting information misrepresentation.

show abstract

“…Finally, the fifth constraint is motivated by management's need to reduce political costs. Zimmerman (1978 and1986) suggest that political costs reduce voluntary disclosure as management shy away from undue attention from regulators (Miller & Skinner, 2015).…”

Section: Voluntary Disclosure Framework and The Conceptual Frameworkmentioning

confidence: 99%

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

View full text Add to dashboard Cite

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.

show abstract

The Evolving Disclosure Landscape: How Changes in Technology, the Media, and Capital Markets Are Affecting Disclosure

Cited by 409 publications

References 78 publications

Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs

Why Do Individual Investors Disregard Accounting Information? The Roles of Information Awareness and Acquisition Costs

A Graph Mining Approach to Identify Financial Reporting Patterns: An Empirical Examination of Industry Classifications

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

Contact Info

Product

Resources

About