What you say and how you say it: Information disclosure in Latin American firms

González, Maximiliano; Guzmán, Alexander; Téllez, Diego; Dávila, María Andrea Trujillo

doi:10.1016/j.jbusres.2019.05.014

Cited by 30 publications

(31 citation statements)

References 59 publications

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“…We also show in Table 2 the average and standard deviation of all the IDI subsections. Considering the average values of the IDI in González et al (2020) that used data until 2015, these figures keep their slight upward trends toward higher disclosure levels.…”

Section: Data Variables and Comparative Statisticsmentioning

confidence: 89%

“…They used a disclosure index for a set of firms listed in the Paris Stock Exchange in which they performed a nonparametric DEA (Data Envelopment Analysis) and found a positive and significant relationship between a disclosure index and Tobin's Q (and ROE) measures. In the same vein, González et al (2020) showed a positive relationship between a firm's information disclosure and its financial performance but in the context of Latin America.…”

Section: Surprisingly Other Examples Of Hybrid Models Apart From Novomentioning

confidence: 90%

“…To put the IR program into context, we extend in Table 1 the IDI initially developed in González et al (2020) that measures the level of information disclosure for more than 460 listed firms in six Latin American countries. In our extended sample, we analyzed the evolution of the IDI from 2010 to 2017.…”

Section: Data Variables and Comparative Statisticsmentioning

confidence: 99%

“…Companies' annual reports are the primary source of information. However, as in González et al (2020), we complemented the IDI of these companies with other information channels, such as the firms' website, country's stock exchanges, and other regulatory agencies websites.…”

Section: Data Variables and Comparative Statisticsmentioning

confidence: 99%

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The effectiveness of corporate governance hybrid models in emerging markets: The case of the Issuer Recognition program

González

Guzmán

Téllez

et al. 2021

Corporate Governance

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Research question/issue: What is the Issuer Recognition (IR) program, and what has been its impact as a new and replicable corporate governance hybrid form used in the Colombian Securities Exchange (CSE)?Research findings/insights: We find that the IR program has significantly increased the information disclosure level of the adopting firms. This set of firms that were among the opaquest businesses in the region in 2010 ranked at the top in terms of disclosure in 2017. In addition, using as a benchmark the rate of implementation of the Colombian Country Code (soft law), we are able to show that the IR program serves as a strong signaling mechanism in the Colombian capital market.Theoretical/academic implications: The literature is not conclusive on the effectiveness of hard law and soft law regulations in the emerging markets. In this paper, we show that hybrid models, such as the innovative Colombian's IR, might serve as a solution for the effective implementation of good corporate governance practices at the country level.Practitioner/policy implications: The advantages and impacts of hybrid models are relatively unknown for policymakers, stock exchange promoters, and agency surveillance bodies, given the lack of empirical evidence of their application's effects. This paper seeks to increase the awareness of these models and call for their development and implementation, especially in emerging markets.

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Section: Data Variables and Comparative Statisticsmentioning

confidence: 89%

Section: Surprisingly Other Examples Of Hybrid Models Apart From Novomentioning

confidence: 90%

Section: Data Variables and Comparative Statisticsmentioning

confidence: 99%

Section: Data Variables and Comparative Statisticsmentioning

confidence: 99%

See 2 more Smart Citations

The effectiveness of corporate governance hybrid models in emerging markets: The case of the Issuer Recognition program

González

Guzmán

Téllez

et al. 2021

Corporate Governance

Self Cite

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“…Upper Echelons Theory (Gan, 2019;Yung & Chen, 2018;Huang & Sun, 2017;Andreou et al, 2016;Francis et al, 2016) (Ge et al, 2011) (Demerjian et al, 2012) (Choi et al, 2015) 2017 (Akbari et al, 2018) 2019 (Rahman et al, 2020) (Huang & Sun, 2017) (Gan, 2019;Lee et al, 2018;Habib & Hasan, 2017) (Hessian, 2018) (Demerjian et al, 2013) (Adut et al, 2019 (Magerakis & Tzelepis, 2019;Aliahmadi et al, 2016;Siao & Chou, 2015) (González et al, 2019) Accounting Financial Performance (Ferreira et al, 2019) (Del Gaudio et al, 2020) 2019 (Elamir & Mousa, 2019;Huang et al, 2014) Management of Accounting Disclosure Tone (Mansurov, 2020) (Huang et al, 2014) (Melloni et al, 2017) 2019 (Kang et al, 2017) (Carlsson & Sörenson, 2015) Impression Management (Ataullah et al, 2018) (Huang et al, 2018) (Fisher et al, 2020) Financial Misconduct Allegations 2019 (Campbell et al, 2019;Baginski et al, 2018;Ahmed & Hussainey, 2017) 2 / 3 2016 (Setiawan et al, 2016;Thanatawee, 2013) ( Chowdhury & Rahman, 2019;Ming et al, 2019;…”

Section: / 1 (Hessian 2018)mentioning

confidence: 99%

قیاس تأثیر القدرة الإداریة للمدیرین التنفیذیین على نغمة الإفصاح المحاسبى وسیاسة التوزیعات النقدیة: دلیل تطبیقى من البورصة المصریة

حسين¹

2020

الفکر المحاسبى

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This study aimed to measure the effect of the degree of CEO's managerial ability according to the managerial ability score presented by (Demerjian, et al., 2012), on accounting disclosure tone in financial reporting (which expressed in three different descriptive proxies, 1 st accounting disclosure tone for good news (positive or optimistic tone), 2 nd accounting disclosure tone for bad news (negative or pessimistic tone), and 3 rd accounting disclosure tone for net news), and on cash dividends policy (which measured by three alternative proxies, 1 st the firm's decision to pay cash dividends during the year, 2 nd cash dividends on assets ratio, and 3 rd cash dividends returns), by taking into account 129 non-financial companies' listed in the egyptian stock exchange, over the period of 2014 to 2018. The Binary Logistic Regression Analysis and the Fixed Effects Model (as one of the longitudinal regression models for Panel Data) were adopted to examine the research hypotheses using SPSS (ver.24) and E-Views (ver.10) programs. The research concluded to several findings, most important of which, that the degree of CEO's managerial ability of the companies under study have increased. The study provided statistical evidences of which, having a significant effect of the degree of CEO's managerial ability on accounting disclosure tone in financial reporting, as it was found that there was a positive significant effect of the degree of CEO's managerial ability on accounting disclosure tone for good and net news, and a negative significant effect on accounting disclosure tone for bad news. The study also provided statistical evidences that, a positive significant effect of the degree of CEO's managerial ability on cash dividends on assets ratio, and cash dividends returns, and no significant effect on firm's decision to pay cash dividends during the year.

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Moderating effects of technological innovation and information environment on market response to information disclosure reforms

Feng,

Zhao

2024

Heliyon

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What you say and how you say it: Information disclosure in Latin American firms

Cited by 30 publications

References 59 publications

The effectiveness of corporate governance hybrid models in emerging markets: The case of the Issuer Recognition program

The effectiveness of corporate governance hybrid models in emerging markets: The case of the Issuer Recognition program

قیاس تأثیر القدرة الإداریة للمدیرین التنفیذیین على نغمة الإفصاح المحاسبى وسیاسة التوزیعات النقدیة: دلیل تطبیقى من البورصة المصریة

Moderating effects of technological innovation and information environment on market response to information disclosure reforms

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