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The influence of company characteristics and accounting regulation on information disclosed by Spanish firms
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In this paper, the influence of market pressures and pressure from regulatory bodies on information disclosure by Spanish firms is analyzed. But the authors do not consider the impact of positive accounting theory on the disclosure of information.Abstract:
Accounting information is subject to two different influences: market pressures and pressure from regulatory bodies. This paper provides an empirical analysis of the influence of both these forces on information disclosure by Spanish firms. To test hypotheses concerning the influence of regulation, annual reports of three different years for 49 companies have been analysed. Given that new Spanish accounting rules have been in force since 1990, annual accounts of a sample of quoted companies have been analysed for the period 1989–1991. In order to consider the influence of positive accounting theory, several characteristics relating to company attributes were selected and tested empirically for the sample of 49 companies. The information disclosed by the sample companies was measured through an information index, based on a list of 50 items of information, and it was regressed on the variables related to company characteristics. The influence of regulation was analysed through a panel data analysis includi...read more
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Les relations entre les mecanismes de gouvernement et l'indice de divulgation volontaire d'informations: etude clinique de deux entreprises tunisiennes
Mehdi Nekhili,Ines Fakhfakh +1 more
TL;DR: In this paper, the authors present an empirique analysis of two entreprises tunisiennes, and show that the specificities du conseil d'administration of these two companies are similar to those of other conseils.
Size, profitability and risk level effects of accounting disclosures : a study on the Greek banking industry
Abstract: The credit crunch of 2007 and the ensuing Greek economic crisis of 2009 and its aftermath have brought back to surface the issue of risk disclosure and transparency in the Greek banking industry. Concerns over the Greek sovereign risk have spilled over both to regional banks and banks in other European countries. These have developed rapidly into a generalized retreat from risk-taking and credit contraction. This paper examines the under-researched Greek banking market owing to its topical and regional spill-over effects. Inadequate transparency and disclosure about exposures has led to counterparty concerns and renewed strains in bank funding markets. Greek banks, now struggling with the need to increase provisions against bad debts, asset write-offs and with problems of liquidity as a result of being frozen out of the interbank lending market are completely reliant on the European Central Bank. Having as a starting point the debate regarding the way banks choose to publicly disclose risk related information, this study tries to examine the impact that Basel II had on the risk disclosure practices in the Greek banking sector. This paper examines the disclosure practices and their potential relationship with size, risk profile and profitability of the most actively traded Greek banks. The results show that while Basel II managed to raise the risk disclosing amounts in the annual reports of the Greek banks, some inadequacies still exist. The informational value of such disclosures is questioned, due to that little quantitative information is disclosed whereas favouritism towards qualitative and past related disclosures is revealed. Adding to that, no quasi-norms between the size, profitability or risk profile of the institutions and their risk disclosing quantities is revealed. Nonetheless, the disclosing policies and the quantity of disclosures have evolved, throughout the examined period in the Greek banking industry. Yet, transparency issues and quality problems regarding risk disclosure are still present owing to the high degree of secrecy of the internal Greek market.
Journal ArticleDOI
Determinants of financial instruments risk disclosure: An empirical analysis in the banking sector
TL;DR: In this paper, the authors investigate firm and country factors affecting financial instruments risk disclosure in the European banking sector on the basis of the mandatory information requested by the International Financial Reporting Standard no. 7 (IFRS 7).
Journal ArticleDOI
Drivers of mandatory disclosure in GCC region firms
TL;DR: In this article, the extent of mandatory disclosure required by applicable IFRSs/International Accounting Standards increases with international presence, group firms, the level of voluntary disclosure, firm age and the education level of company financial controllers.
Journal ArticleDOI
Transparency of Financial Reporting on Greenhouse Gas Emission Allowances: The Influence of Regulation.
TL;DR: In this paper, the authors analyzed the influence of regulation in the transparency of financial reporting on emission allowances (EA) and greenhouse gas (GHG) emissions within the European Union Emissions Trading Scheme (EU ETS) and found that the adoption of the International Accounting Standards Board (IASB) standards set lead to a greater dispersion in the choice of the accounting approach and a higher probability of not disclosing any information, as well as adopting off-balance sheet policies.
References
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Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Journal ArticleDOI
The Market for “Lemons”: Quality Uncertainty and the Market Mechanism
TL;DR: In this paper, the authors present a struggling attempt to give structure to the statement: "Business in under-developed countries is difficult"; in particular, a structure is given for determining the economic costs of dishonesty.
Journal ArticleDOI
Job Market Signaling
TL;DR: In this paper, the authors present a model in which signaling is implicitly defined and explains its usefulness, in which the employer is not sure of the productive capabilities of an individual at the time he/she hires him.
Book
Analysis of Panel Data
TL;DR: In this paper, the authors propose a homogeneity test for linear regression models (analysis of covariance) and show that linear regression with variable intercepts is more consistent than simple regression with simple intercepts.
Journal ArticleDOI
Auditor size and audit quality
TL;DR: In this paper, the authors argue that audit quality is not independent of audit firm size, even when auditors initially possess identical technological capabilities, and when incumbent auditors earn client-specific quasi-rents, auditors with a greater number of clients have more to lose by failing to report a discovered breach in a particular client's records.
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