Extent Of Corporate Disclosure Research Articles

Impact of corporate disclosure on dividend policy: a novel setting of COVID-19-related disclosure by Vietnamese listed firms

Purpose This study aims to investigate whether the extent of corporate disclosure, proxied by COVID-19-related disclosure, affects the dividend policy of listed firms. Design/methodology/approach The study uses a multinomial logistic regression model to examine the relation between corporate disclosure and the dividend policy of the 100 largest market-cap firms in Vietnam in 2021. The COVID-19 pandemic, with its unique impact on business operations, serves as the backdrop for this analysis. Findings The findings indicate that firms with more extensive COVID-19-related disclosure are more inclined to distribute dividends in the form of stocks or cash instead of omitting them. Originality/value This research contributes to the understanding of how corporate disclosure practices influence a firm’s financial decisions, particularly in the context of the COVID-19 pandemic. The findings hold implications for corporate financial decision-making during times of macroeconomic shock.

Indian companies ignoring HR issues

Purpose The purpose of this paper is to investigate the extent of corporate disclosure on human resources (HR) in the annual reports of top-performing Indian companies. Design/methodology/approach The paper explores the extent to which top 82 companies from India present information about HR in their annual reports. This paper examines the annual reports of each of the top Indian firms listed on the Bombay Stock Exchange, using the “content analysis” method. Statistical tests have been performed to analyze the difference between the HR disclosure score across public and private sectors and disclosure variations among various industrial sectors. Findings In-house training programmers has been noticed to be the favorite item of disclosure followed by safety awards/certifications and statements regarding cordial relations with the employees/unions. A majority of the Indian firms have ignored significant HR issues such as employee welfare fund, maternity/paternity leaves, holiday benefits, employee loans, adopting old age homes, etc. Overall, the paper reflects low HR-related disclosures. Originality/value This is the first paper on the disclosure of HR by the Indian corporate sector in the CSR domain with a disclosure analysis for a period of nine years. This paper provides new directions for the literature in this area and may promote comparative studies on HR-based studies from different perspectives.

Corporate governance attributes, firm characteristics and the level of corporate disclosure: Evidence from the Indian listed firms

Article history: Received July 25, 2012 Accepted October 10, 2012 Available online October 18 2012 This study investigates the association between firm characteristics, corporate governance attributes and the level of corporate disclosure of listed firms in India. The research paper has been based on a sample of 60 firms listed in the Bombay Stock Exchange (BSE) / National Stock Exchange (NSE) during the study period from 2000-01 to 2009-10. The study has used the Standard & Poor (2008) model for measuring the level of corporate disclosure. To examine the association between explanatory variables and the level of corporate disclosure, multiple regression model has been used. The results suggest a positive relationship between board size, ratio of audit committee members to total board members, family control, CEO duality, firm size, profitability, liquidity and the extent of corporate disclosure. However, the degree of corporate disclosure is negatively related to board composition, leverage and age of the firm. © 2013 Growing Science Ltd. All rights reserved.

Annual report disclosure in a developing country: The case of the UAE

Abstract This paper examines the extent of disclosure in annual reports of 31 listed firms in the UAE for the fiscal year 2003, and seeks to determine the underlying factors that affect the level of disclosures. It also seeks to establish whether differences exist between the UAE sectors. This paper uses denominator-adjusted disclosure-indices. The extent of corporate disclosure is calculated and compared among firms and between sectors. Statistical analysis is performed using a logit regression through the implementation of Weighted Least Square and a weighted one-way analysis of variance (ANOVA) is employed to determine whether any differences exist in the extent of disclosure among the sample. This study hypothesizes that four main factors would affect the extent of disclosure in the UAE, namely, the sector type (banks, insurance, industrial, and service), size (assets), debt equity ratio, and profitability. Significant differences are found among sectors; however, the size, the debt equity ratio, and the profitability were found to have insignificant association with the level of disclosure.

Determinants of disclosures of A‐, B‐ and H‐share companies

PurposeThis study attempts to examine the issues relating to corporate financial reporting of Chinese listed companies under specified institutional settings as companies with different share‐categories are required to prepare annual reports under various General Accepted Accounting Principles (GAAP).Design/methodology/approachThis study selects Chinese companies that issue negotiable shares to examine whether corporate disclosure patterns are different under various institutional settings. Negotiable shares can be traded on stock exchanges and are divided into A‐, B‐ and H‐shares. The extent of corporate disclosure is obtained from the content analysis of annual reports for 191 sampled Chinese listed companies with various share categories. The association are hypothesized and tested between the level of corporate disclosure and the following corporate determinants: company size, profitability, auditor, leverage, industry and ownership structure.FindingsThe extensive regulations and different standards influence on disclosures of companies with foreign investment participation and overseas listing status. By reconciliation of their annual reports according to the IFRSs or the GAAP of the listing country, these companies increased information disclosure voluntarily in order to enhance their reputation and credibility. Some corporate factors, such as company size, profitability and the size of auditor, have influenced the level of corporate disclosure in annual reports of domestic and foreign share‐based companies. Ownership structure has positive impact on the level of disclosure for companies with domestic investors.Originality/valueThis study advances knowledge of the influence that legislative circumstances and ownership structures can have on disclosure decisions made by management in their annual reports. This information is of high interest to domestic and foreign investors and regulators in understanding of financial reporting in Chinese listed companies.

Impression management: dual language reporting and voluntary disclosure

The presentation of corporate disclosure may be explained by impression management. The relative extent of corporate disclosure may be related to information costs. This paper links these two theoretical perspectives by comparing the extent of voluntary disclosure in companies that have chosen to present a dual language approach to reporting, relative to the disclosure provided by companies choosing to report only in one language. The analysis shows that voluntary disclosure is higher in companies that have higher visibility through dual language reporting and whose investors face higher information costs. The analysis also shows that voluntary disclosure by companies reporting only in one language is associated with domestic visibility in market listing and type of industry, while that of companies reporting in two languages is associated with responding to market pressures.