Timeliness Of Financial Reports Research Articles

DETERMINANTS OF THE TIMELINESS OF PUBLISHING FINANCIAL REPORTS: NON-FINANCIAL COMPANIES IN INDONESIA

<p><strong>Background</strong>: The timeliness of publishing financial reports is very important for companies and users of financial information. Delays in publishing financial reports can impose sanctions on the company concerned, hinder economic decisions, and even create a bad reputation for the company among investors.</p><p><strong>Purpose</strong>: This research aims to examine the influence of company size, profitability, leverage, number of subsidiaries, board independence, board ownership, audit quality, and composite corporate governance index (CG-Index) on the timeliness of publishing financial reports.</p><p><strong>Research method</strong>: The data analysis method used in this research is panel regression analysis with a total of 439 company analysis units over 5 years.</p><p><strong>Research result</strong>: Panel regression test results show that the variables profitability and board independence have a significant negative effect on the timeliness of publishing financial reports. Audit quality and the CG-Index have a significant positive relationship with the timeliness of publishing financial reports.</p><p><strong>Originality/Novelty</strong>: The research uses the CG-Index to measure the effectiveness of corporate governance in reducing the potential for audit delays in developing countries.</p>

Determinants of Financial Reporting Timeliness: A Study of Indonesian Consumer Cyclicals Companies

Determinants of Financial Reporting Timeliness: A Study of Indonesian Consumer Cyclicals Companies

Pengaruh Opini Audit, Temuan Audit, dan Karakteristik Daerah terhadap Ketepatan Waktu Laporan Keuangan Pemerintah Daerah di Sumatera

This study aims to analyze the influence of audit opinions, audit findings, and regional characteristics on the timeliness of local government financial reports in Sumatra in 2021. This research uses a quantitative approach. Sampling method using Purposive based on predetermined criteria and produced sample 90 local governments in Sumatra in 2021. Multiple regression analysis was employed to test the hypothesis. The results shows that audit opinions and local government measures have negative effect on LKPD timeliness, while the findings audit and the age of the local government have no effect on the timeliness of LKPD.

The Effect of Audit Opinion, Reputation of Kap, Auditors and Audit Committee on the Timeliness of Financial Reports

The purpose of this study is to examine the impact of audit opinions, the reputation of KAPs, auditors, and audit committees on the timeliness of financial reporting in manufacturing companies in the basic and chemical industrial sectors listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 period. in this study the sampling technique used purposive sampling. The sample for this research is 135 data from 45 manufacturing companies in the basic and chemical industry sectors that are registered and submitting financial reports on the IDX for the 2019-2021 period. The analysis technique for testing is logistic regression. The finding is reveal that audit opinion, and KAP reputation has a positive and significant effect on the timeliness of financial reporting, while the auditor and audit committee have no significant effect on the timeliness of financial reports.

The Effect of Ownership Structure on Financial Reporting Timeliness: An Implementation on Borsa Istanbul

The purpose of the current study is to investigate the influence of corporate and foreign ownership structures on the timeliness of financial reporting. The sample of the study consists of 2,204 observations obtained from 208 companies trading in Borsa Istanbul between 2008 and 2019. Multiple regression analysis was conducted, and the relationship between ownership structure and financial reporting timelinesses was investigated. The findings indicate that corporate and foreign ownership are significantly and negatively associated with financial reporting timeliness. Robustness analysis was carried out using the two-stage GMM method, and it was determined that there was no endogeneity problem. The results provide valuable information for financial reporting users, such as investors, companies, regulators, policymakers, and auditors, and will aid them in their decision-making processes as it reduces information asymmetry and contributes to the improvement of the financial reporting quality.

Timeliness of Local Government Financial Reporting: Evidence From Indonesia

This research analyzed the determinant of timeliness of local government financial reporting on the financial statements of 508 local governments from 2015 to 2019 financial periods in Indonesia. With secondary data based on the total sampling method, this research used a panel data regression fixed effect model. This study found that financial control and local government revenues positively affected the timeliness of local government financial reporting, local government capital expenditures and the complexity of local governments. Each had an insignificant positive and negative effect on local government financial reporting timeliness. From this study, local governments must increase the capacity of financial supervisors, so the process of financial supervision of local governments can run well, from planning and implementation to reporting on LKPD.

The Effect of Audit Firm Reputation and Busyness on Financial Reporting Timeliness: The Moderating Role of Client Complexity and Floatation of Exchange Rate Empirical Evidence from Egypt

The Effect of Audit Firm Reputation and Busyness on Financial Reporting Timeliness: The Moderating Role of Client Complexity and Floatation of Exchange Rate Empirical Evidence from Egypt

The Effect of Managerial Ability on the Timeliness of Financial Reporting: The Role of Audit Firm and Company Size

Effective decision-making relies on access to timely and accurate information, which is widely regarded as a valuable asset in the capital market. Accounting information is no exception, and it is critical for managers to provide such information promptly to advance their firms' economic activities. This study investigates the relationship between managers' ability and the timeliness of financial reporting, testing three research hypotheses through linear regression analysis. The statistical population comprises 115 firms listed on the Tehran Stock Exchange between 2012 and 2021, with 1150 firm-year observations. The delay in the auditor's report serves as a proxy for financial reporting timeliness. Managers' abilities are measured using Demerjian et al.'s model [1]. The findings reveal a significant, positive relationship between managerial ability and the timeliness of financial reporting, indicating that higher managerial ability is associated with lower financial reporting delay. Additionally, the results suggest that the relationship between managerial ability and financial reporting timeliness is moderated by the size of the auditing firm and the firm itself.

Effect of Corporate Governance Compositions on Financial Reporting Timeliness in Nigerian Deposit Money Banks

This study ascertained the effect of corporate governance compositions on timeliness of financial reporting in deposit money banks in Nigeria. Ex Post Facto research design was employed for this study. Purposive sampling was used to select eight (8) deposit money banks in Nigeria with international authorization. Data were extracted from annual reports and accounts of the sampled banks and analyzed with regression analysis. The results show that board size has a positive and significant effect on financial reporting timeliness deposit money banks in Nigeria, while audit committee independence has a positive but insignificant effect on financial reporting timeliness of deposit money banks in Nigeria. Therefore, on the basis of the findings and conclusions of the study, the study recommends among other things that the number of banks board of directors should play a vital role in how well it can oversee daily operations of the institution and monitor management.

Corporate Attributes and Timeliness of Financial Reporting in Nigeria

This study examined the effect of corporate attributes on timeliness of financial reporting of quoted firms in Nigeria. The objective was to investigate the relationship between corporate attributes and timeliness of financial reporting. Cross sectional data was sourced from financial statement of quoted firms. Number of days was modelled as a function of total assets, age, profitability and number of employees. After cross examination of the validity of the pooled effect, fixed effect and the random effect, the study accepts the fixed effect model. The result found that profitability and age have positive relationship with timeliness of financial report on financial reports of the selected firms. The panel unit root proved that the variables are stationary at first difference while the causality test found one unidirectional relationship total assets to timeliness of financial reporting. From the regression summary, the study concludes that corporate attributes have significant relationship with timeliness of financial reports. We recommend that corporate attributes that affect negatively timeliness of financial reporting should be discouraged or properly managed and factors that enhance timeliness of financial reporting should be encouraged

Audit Characteristics and Financial Reporting Timeliness of Nigerian Listed Non-Financial Institution

The management is accused of opportunistic behavior and financial report delays following the global financial scandal. Consequently, studies examine the effect of client-specific characteristics on financial report timeliness, and Nigeria is not an exemption. Recent studies focus on the effect of auditor's attributes in mitigating or explaining the rationale for the financial reporting delay. However, limited studies exist in Nigeria on the effect of audit characteristics on financial reporting timeliness in non-financial institutions. Our study contributes to knowledge by examining the effect of audit characteristics on the financial reporting timeliness in the Nigerian listed non-financial institution. We select 450 firm-year observations from 2011 to 2020 using a purposive sampling technique and estimate the model using the Ordinary Least Square Method (OLS). The result reveals that audit price and audit firm size positively affect financial reporting timeliness, while audit tenure is negative but insignificantly related to financial reporting timeliness. Our study concludes that delivering the financial report to the users takes longer when the auditors charge higher fees, reflecting an increase in auditors' workload resulting from additional audit risk and procedure. Also, large audit firms take a long time to communicate financial reports taking due care in forming audit opinions to ensure audit independence and reduce the litigation risk arising from the audit assignment

Analysis of the Effect of Profitability, Liquidity, and Firm Size on the Timeliness of Financial Report Submission

This research aims to analyze the factors that affect the timeliness of financial reports submitted to Indonesia Stock Exchange-listed manufacturing companies in the various industrial sectors. Profitability, liquidity, and firm size are the independent variable in this research, whereas the timeliness of financial report submission is the dependent variable. The population in this research were various industrial sector manufacturing companies listed on the IDX from 2012 to 2016. Sampling was carried out using the purposive sampling method to obtain 14 sample companies. The type of data used is secondary data obtained from the IDX website. The analytical method used is logistic regression analysis. Based on the results of logistic regression analysis with a significance level of 5%, the results of this research suggest that profitability (ROI) has no significant effect on the timeliness of financial report submission, while liquidity (CR), and company size (TA) have a significant effect on the timeliness of financial report submission.

SEC Ruling, Investor Confidence and Firm Valuation

Prior studies suggest that a firm is valued higher when the shareholders are better protected. By examining the firms’ responses to the SEC Order No. 4-460, we find significant positive abnormal returns to those firms with correct certification. Those firms with timely certification are rewarded with higher valuation. Consistent with the notion that large outside blockholders have strong incentive to monitor managers, we find that outside blockholders play an important role in ensuring the accuracy and timeliness of financial reports. The equity-based compensation package may align the managerial interest with shareholders’ as a whole, but not necessarily with outside shareholders’.

Audit Committee Financial Expertise and Financial Reporting Timeliness

This study examines conceptually the relevance of the audit committee financial expertise to financial reporting timeliness of a firm. The methodology adopted in this study is library research whereby relevant and extant literature related to the audit committee financial expertise and financial reporting timeliness. Audit committee financial expertise was x-ray from the perspective of accounting financial expertise and the non-accounting financial expertise. Observations from the study highlights that the presence of accounting financial experts in an audit committee is an important element that mitigate reportorial challenges and motivates financial reporting timeliness. The study recommends that financial experts in the audit committee should be given more power to enable them discharge their duty effectively and efficiently, the definition of audit committee financial expertise should not relegate other relevant profession to the background, and the impact of the audit committee financial expertise on audit expectation gap should be considered when appointing members of the audit committee.
 
 Received: 3 February 2022 / Accepted: 23 February 2022 / Published: 5 March 2022

Nexus between corporate characteristics and financial reporting timelines: evidence from the Saudi Stock Exchange

PurposeThe purpose of this study is to examine the nexus between corporate characteristics and timeliness of financial reporting in Saudi Arabia. Specifically, this study investigates the relationship between financial reporting timeliness and both corporate size, profitability, leverage and institutional ownership.Design/methodology/approachA sample of 67 of nonfinancial companies listed in the Saudi market during the period 2015–2018 was used. Multivariate regression analysis was performed to analyze the relationship between the four corporate characteristics and timeliness of financial reporting.FindingsThe findings revealed that financial reporting timeliness is significantly correlated with three of the corporate's characteristics, which are company size, profitability and leverage, while there is no significant effect of institutional ownership on the timeliness of financial reporting.Research limitations/implicationsThe findings of this study may not be generalizable to all companies listed in the Saudi market as a result of limiting the study to nonfinancial companies and excluding financial companies from the sample. Future research may explore the determinants of the timeliness of these companies' financial reporting.Practical implicationsGiven the significant interest expressed by investors, regulators and researchers in the field of financial reporting timeliness, especially in emerging markets where financial reports are almost the main and only source of information, this study highlights the role that corporate characteristics play in influencing the financial reporting timeliness in Saudi Arabia as one of emerging markets.Originality/valueDespite the importance of financial reporting timeliness, there are very few studies that have examined this issue in Saudi Arabia. This study contributes to bridging this gap by examining the relationship between the corporate characteristics and the timeliness of financial reports.

Timeliness of Financial Reporting: The Examination of Auditor Tenure and Industry Specialization

This study examines the effect of auditor tenure and industry specialization on financial reporting timeliness. Using evidence from the corporate report of public listed companies in Malaysia, the results from multivariate regression analysis show that audit firm tenure and industry specialization are associated with financial reporting timeliness. The findings show that audit tenure is positively associated with a timelier financial reporting, indicating a shorter audit period. This evidence is consistent with the knowledge spillover arguments. The results also indicate that industry specialist is linked with less timely financial reporting, in which the appointment of industry specialist would result in a longer period to complete audit, probably because a large number of clients to be handled. The result is robust even after including various controls namely auditor size, audit fees, audit committee size, CEO duality, financial year end, firm size, leverage, and growth. The evidence suggests that financial reporting timeliness can be improved by retaining incumbent auditor and selecting a non-industry specialist. This study contributes to the existing literature on the role of auditor in providing timely financial reports. The results of this study are useful for regulators in Malaysia as an input for their effort in setting the rules and regulation relating to auditor tenure to enhance the relevance of corporate reports produced by publicly listed firms.

BOARD ATTRIBUTES, IFRS ADOPTION, AND TIMELINESS OF FINANCIAL REPORTS AMONG NIGERIAN LISTED FIRMS

This study examines the relationship between the board attributes and timeliness of financial reports upon International Financial Reporting Standard (IFRS) adoption in Nigeria. The study compares the pre and post-IFRS relationship between board attributes and the timeliness of financial information, proxy by Audit Report Lag (ARL), among Nigerian listed companies. An ex-post facto research design and the estimation technique of Panel Generalized Least square (PGLS) were used to analyze the secondary data sourced from the audited published annual financial reports of 57 sample firms, purposively selected across all sectors of the NSE from 2006 to 2018. The population of the study was comprised of all firms listed firms on the Nigerian Stock Exchange (NSE) as of December 2019, totaling 165. The study found that IFRS is a dummy variable that distinguishes the two periods: the pre- IFRS period of 2006-2011 and the post-IFRS of 2013-2018. The coefficient of IFRS being statistically significant suggests that IFRS adoption seems to be more effective in the relationship between the board attributes and the timeliness of financial reports in the post-IFRS period. Board attributes, particularly board independence and board gender diversity, also increased ARL post-IFRS. The study suggested a holistic review of the board requirements by the regulatory body, SEC, among others.

Effect of Board Attributes and Ownership Structure on Financial Reporting Timeliness of Listed Consumer Goods in Nigeria

The study examined effect of board attributes and ownership structure on financial reporting timeliness of listed consumer goods in Nigeria. The research design was Ex post facto research design. This study used the entire 20 listed firms of consumer goods quoted on Nigeria’s equity market as at 31st December 2020 as its population. The study made use of purposive sampling technique. The sample size used is eleven (11). The period of the study was from 2011 to 2020. This study used panel data because the observations contain both time series and cross sectional units. Hence, panel multiple regressions. Findings revealed that board size, board meeting, foreign ownership and managerial ownership have positive but statistically insignificant effect on financial reporting timeliness of listed consumer goods in Nigeria. While, board of directors’ diversity and board independence have positive and statistically significant effect on financial reporting timeliness of listed consumer goods in Nigeria. The study concludes that both board of directors’ diversity and board independence have effect on financial reporting timeliness, while board size, board meeting, foreign ownership and managerial ownership have no effect on financial reporting timeliness of quoted consumer goods in Nigeria. The study recommends the mandatory presence of nonexecutive directors in the composition of board of directors, most importantly in limited liability companies.

The Effect of Company Size, Company Age, Auditor's Opinion, and Public Ownership on the Timeliness of Submitting Financial Statements (Empirical Study on Manufacturing Companies Listed on the Idx For the Period 2011 – 2015)

The purpose of this research is to analyze the effect of Company Size, Company Age, Auditor Opinion, and Public Ownership on Financial Reporting Timeliness of the manufacture company in Indonesia Stock Exchange (IDX) for the period 2011 - 2015. This research type was causal comparative research. Sampling method used purposive sampling. Population of this research is company in manufacture at Indonesian Stock Exchange in 2011, 2012, 2013, 2014, and 2015 with 23 companies as sample. Data that use in this research provide by audited financial report in 2011-2015 that publish in www. idx.co.id. Logistic regression use to test hypothesis. The result of this research show that: (1) Company Size had significant on Financial Reporting Timeliness, as shown by the value of level significant 0.046 < 0.05.

The Influence of XBRL Adoption on Financial Reporting Timeliness: Evidence from Indonesian Banking Industry

This study examines the impact of eXtensible Business Reporting Language (XBRL) adoption on financial reporting timeliness. The population are banking companies listed on the Indonesian Stock Exchange (IDX) between 2015 and 2019. The samples are 38 Indonesian banks or 190 bank-year observations. Using logistic regression this study demonstrates the XBRL adoption positively affects financial reporting timeliness. The findings confirm that XBRL adoption benefit banks as it stimulates automation process, improves cost-effectiveness, fasten data collection, enhances data reliability and accuracy, and thus it may lead to better business decision-making. The positive signal provided by the adopters of XBRL will influence the decisions of shareholders, which in turn will lead to share ownership increase.