Greater Disclosure Research Articles

Who has secrets and who keeps them? Individual differences in disclosure and secrecy

Recent work has made great strides in understanding the situations that prompt people to disclose information or keep secrets. Through four studies (N = 24,684), this article provides new insights into disclosure and secrecy through the lens of individual differences. Studies 1 and 2 find that higher levels of private self-consciousness are associated with greater disclosure, while higher levels of public self-consciousness are associated with greater secrecy. Studies 3 and 4 examined the Big Five personality traits and life satisfaction, finding reliably distinct patterns when it comes to keeping secrets and having the kinds of experiences people typically keep secret. Taken together, the studies provide several new insights into individual differences as well as future research directions.

Beyond the Surface

This study uses the online disinhibition effect as a theoretical framework for understanding disclosures of ADHD on non-anonymous (Facebook) and anonymous (Reddit) channels. Specifically, a quantitative content analysis compared public Facebook and Reddit posts in terms of disclosure depth. Posts were coded as either peripheral, intermediate, or core disclosures. In this context, the results aligned with the online disinhibition effect; Reddit had greater disclosure and depth of disclosure compared to those on Facebook. The implications of this study demonstrate how self-disclosure depth varies within understudied groups (i.e., individuals posting on ADHD threads) in online contexts. This study also adds to prior research by examining anonymity on multiple channels.

ELEVATING LONG-TERM ELDERLY CARE IN MALAYSIA: A CLUSTER ANALYSIS APPROACH BASED ON BENCHMARKING WITH SELECTED COUNTRIES

Malaysia is expected to become an aged society with a 14.1% ageing ratio in 2039, boosting demand for Long-Term Care (LTC). Nonetheless, a thorough review of current LTC systems is crucial due to their complexity, encompassing numerous ministries and departments. In analysing LTC systems in various countries based on components of effective LTC systems, this research suggests a new LTC framework for Malaysian systems. Cluster analysis is used across benchmarked nations: Australia, Germany, Japan, Singapore, Thailand, the United Kingdom, and the United States of America. There are two typologies used, with a total of ten variables employed: a) organisational depth with seven variables: legal framework, policy objectives, policy approach, means-tested assessment, entitlements, cash benefits, and choice of care provider; b) financial generosity and sustainability with three variables: financing mechanism, cost-sharing, and LTC expenses. Four key takeaways from the benchmarked countries: a) LTC insurance scheme, as adopted in Germany and Japan, proves effective with universal coverage, greater disclosure, and a structured approach; b) community-based model, widely adopted across all countries, fosters active stakeholders engagement in meeting elderly’s needs; c) Centralised Administration (CA) provides a structured avenue to manage LTC services and expenses; and d) cost-sharing via private-public arrangements ensures the sustainability of the LTC expenses. The study suggests five improvements for effective LTC systems: a) broaden the recipients’ pool to include the bottom 40% of the population to accommodate their financial constraints; b) implement a robust means-tested evaluation for equity, transparency, and inclusivity; c) incorporate a community-based model for comprehensive coverage; d) create a CA to handle complexity; and e) use public-private partnerships for sustainable financing model. In summary, this study aids policymakers in tackling the intricacies of Malaysia’s LTC systems in line with the intended policy goals of guaranteeing a healthy ageing population, advocating comprehensive protection, and stimulating community-based care.

Increasing Client Fraud Risk Disclosure with Minimization Techniques

SYNOPSIS Auditing standards require auditors to conduct fraud inquiries as part of their risk assessment process. During fraud inquiries, auditors frequently ask client personnel directly about “fraud, alleged fraud, or suspected fraud,” using standard language taken from AS 2110. However, guidance from the Center for Audit Quality (CAQ) suggests that avoiding the word “fraud” results in greater disclosure regarding fraud risk. Although untested, the CAQ’s conjecture is supported by literature in psychology and criminology, which suggests that minimizing the seriousness of the offense (i.e., minimization) increases disclosure. This study examines two minimization strategies. The first involves replacing the word “fraud” with “questionable behavior.” The second employs social comparison to increase the perceived frequency that clients report misconduct to auditors. Experimental results suggest that either strategy increases client reporting intentions relative to a control condition using the language prescribed by AS 2110. Our findings may help auditors conduct more effective fraud inquiries. Data Availability: Data are available from the authors. JEL Classifications: M42; M48.

The link between MiFID and Risk Appetite Framework as an application of best practices for wealth management and the entire value chain of the financial industry

After a short review of the MiFID regulations and the RAF, the paper identifies the link between them which allows to mitigate a balance sheet risk sustained by the financial intermediary and, at the same time, to improve its stability and value creation, through a maximization of customer loyalty. The client’s attitude towards risk can be summarized in these terms: "I don't like risk, but I like to win". Thus, a three-dimensional approach towards expected utility is suggested for estimating risk tolerance: risk aversion, loss aversion and reflection. In addition, a definition of the client's financial objectives is required, combined with greater disclosure - which allows the construction of a financial statement – to attest that risk-taking is indeed a luxury, as indicated by the metrics of the discretionary wealth ratio, and therefore, of the Standard of Living Risk (SLR). The next step consists in the determination of a set of portfolios along the efficient frontier where risk is represented by the expected shortfall, the determination of which belongs to a Generalized Extreme Value Theory logic. The client's objectives are described in terms of probability of success, where the latter is a function of an initial endowment, a potential positive contribution of financial resources over time as well as an expected return level. The above is expressed through a practical case that envisages the determination of a set of EGPF portfolios and the identification of the specific portfolio, obtained as a solution to a static and dynamic optimization problem, where the objectives have been formalized through the calculation of the associated utility

The latency of domestic violence

The article analyzes the problem of latency of domestic violence. Violence in the family is one of the most acute problems of our time, which has deep root and latent character, has no age, social and state boundaries. The concepts of «latency» and «domestic violence» are considered and analyzed, and the scientific views of researchers regarding these concepts are presented. The types and features of violence that can manifest in the family, namely physical, mental, sexual and economic, are revealed.The reasons that contribute to the silence of domestic violence have been identified and revealed. These reasons include internal and external factors. In their work, the authors also analyze the statistics of domestic violence in recent years. The legal basis of the researched issue is analyzed. It was determined that domestic violence is sanctioned in accordance with the Criminal Code of Ukraine. Directions for the prevention of the latency of domestic crime are proposed. The article concludes that the problem of family violence does not lose its relevance and is recognized as one of the most acute social problemsof Ukrainian society.It is indicated that a successful theoretical and practical solution to such important criminological problems as identifying the causes and conditions of crime, as well as effective counteraction to it, is possible if there is an objective consideration of allcrimes committed in society. Domestic violence is recognized as one of the most acute social problems of Ukrainian society, and therefore does not lose its relevance today and Latent crime in the field of domestic violencе is a set of criminal acts that took place in a certain family, but were not recorded by law enforcement agencies and were not reflected in official statistical data. To date, the increase in the number of complaints about domestic violence is not a worsening of the situation in the region or inUkraine, but is primarily a decrease in its latency, due to a change in people’s attitude to this problem and its greater disclosure.

Blue bonds for marine conservation and a sustainable ocean economy: Status, trends, and insights from green bonds

Amid funding shortfalls to address ongoing ocean degradation, blue bonds are being designed to finance sustainable development and conservation projects in ocean and coastal areas via private sector investment. Blue bonds seek to deliver both positive environmental and/or social impact alongside a financial return on investment to investors. However, there has been limited academic scrutiny of these early initiatives to evaluate whether this rhetoric is justified. This article leverages 15-years of scholarship on green bonds to develop an analytical framework that is applied to five of the world’s first blue bonds. A comprehensive content analysis of sources such as blue bond project documents and secondary interviews is used to synthesise their characteristics, and consider trends related to their thematic scope, geographical scope, environmental impacts, and financial returns. Thematically, blue bond proceeds are channelled towards projects aligned with Sustainable Development Goal (SDG) 14 ‘Life Below Water’, the Blue Economy, and policy discourse around the ‘blue recovery’ from covid-19. These projects range from marine protected area (MPA) creation, to improved fisheries management, and potentially, oil and gas exploration. However, greater explanation of the logic through which project activities are expected to deliver impact and returns is warranted. Equally, impact measurement is often underwhelming, with many bonds targeting easy-to-measure outputs (e.g., area conserved) rather than outcomes and impacts (e.g., increases in fish abundance). While an alluring and useful financial innovation, greater disclosure on the individual projects and enterprises that blue bonds finance is necessary to validate their sustainability credentials and inform investor decision making.

Analysis of the impact of liver transplantation as a condition of health

AimTo analyse the impact that liver transplantation has had on the patient as a condition of their health. MethodA prospective study was carried out, the sample of which was made up of liver transplant patients at the Gregorio Marañón General University Hospital from November 2019 to August 2021. The hospital anxiety and depression scale, the Model for End-stage liver disease sodium and liver fragility index and the Transplant Effects Questionnaire Spanish were used. The data were analysed using descriptive statistics. The student’s t-test was used for continuous variables and the chi-square test for categorical variables. For non-parametric samples, the Wilcoxon, Mann-Whitney U test and Kruskal-Wallis’s sign were used. ResultsThe sample was made up of 60 patients with a mean age of 55.68 years, 70% being men. The mean anxiety and depression scores of the patients improved significantly after liver transplantation. The impact of physical health resulted that those patients with a higher Model for End-stage liver disease sodium were correlated with a greater feeling of guilt after transplantation. Furthermore, greater adherence to immunosuppressive treatment was directly correlated with greater disclosure and inversely with guilt, after transplantation. ConclusionLiver transplantation is a process that impacts the health of patients. Those patients who arrive at the transplant with a more deteriorated physical situation present a greater guilt after the transplant. This impact is inversely correlated with adherence to immunosuppressive treatment. Nurses should intervene in such patients to reduce the impact on adherence to treatment.

Article processing charges and fully open access journals: National Health and Medical Research Council funded articles

Introduction: The National Health and Medical Research Council, Australia’s largest medical research funder, mandates open access for journal articles published from funded research. Publishing articles in fully open access journals is an acceptable route to achieve compliance. However, the total cost of article processing charges and the extent to which Council funds contribute to payment are unknown.Objectives: The main objectives of this study were to calculate the cost of article processing charges and determine the extent of acknowledgement of payment for Council-funded articles published in fully open access journals during 2019.Methods: The funding acknowledgement fields of Web of Science provided the list of Council-funded articles. The Directory of Open Access Journals identified fully open access journal titles and their article processing charges. Data analysisinvolved bibliometric research methods, principally descriptive statistics.Results: The cost of article processing charges for 2,261 articles published in 2019 was over US$5,000,000. Charges ranged from zero to US$5,200, with the median being US$1,900. The acknowledgement of payment of article processing chargeswas extremely low (1.72%).Discussion: The insufficient acknowledgement of the considerable expenditure on article processing charges is concerning. The “Australian Code for the Responsible Conduct of Research” underscores the principles of transparency in declaringinterests. Required is greater disclosure of expenditure on article processing charges and accountability for public-funded research.Conclusion: The disclosure of article processing charge payments should be mandated by the Council and included in the publication metadata deposited in repositories under the National Health and Medical Research Council’s OpenAccess Policy. Acknowledgements and disclosures are essential in recognising professional contributions and ensuring the responsible conduct of research.

An Investigation of Nonprofit Reporting of Significant Diversions of Assets

ABSTRACTArchival research suggests that nonprofit organizations are inaccurately reporting significant asset diversions on IRS Form 990. This suggests that information reported on Form 990 may be misleading. This study investigates three possible causes for the underreporting of significant diversions of assets, including reading the Form 990 instructions, how the threshold for reporting is met, and the threat of outside detection of the theft. Our findings suggest that reading the instructions for Form 990, positively and significantly influences disclosure of an asset diversion. We also examine press release reporting and find that risk of detection of the theft is a significant predictor of press release disclosure. We conduct a second study to test our suggested changes to the wording of the Signature Line and Governance Section of Form 990. Adjusting the wording of the significant diversion of assets question to be more transparent results in greater disclosure.

Accounting information, disclosure, and expected utility: Do investors really abhor uncertainty?

AbstractInvestors are said to “abhor uncertainty,” but if there were no uncertainty they could earn only the risk‐free rate. A fundamental result in the analytical accounting literature shows that investors buying into a CARA‐normal CAPM market pay lower asset prices, gain higher ex‐ante expected returns, and obtain higher expected utility, when the market payoff has higher variance. New investors obtain similar “welfare” gains from risk under a log/power utility CAPM. These results do not imply that investors “abhor information.” To realize investors' ex‐ante expectations, the subjective probability distributions representing market expectations must be accurate. Greater payoff risk can add to investors' expected utility, but higher ex‐post(realized) utility comes from better information and more accurate ex‐ante expectations. An important implication for accounting is that greater disclosure can have the simultaneous effects of (i) exposing more fully or perceptibly firms' payoff uncertainty, thereby increasing new investors' expected utility, and (ii) improving market estimates of firms' payoff parameters (means, variances, covariances), thereby giving investors a better chance of realizing their expectations. Paradoxically, better information can be valuable to new investors by exposing more fully and more accurately the risk in firms' business operations and results–new investors maximizing expected utility want both more risk and better information.

The Impact of Moral Injury and Disclosure of Military Experiences on Veterans

While many veterans face physical, psychological, and spiritual difficulties, research suggests that the reintegration process from military service to civilian life, is a complex one. Our study focused on the role of moral injury and the disclosure of military experience in this transition, and how they might combine to affect veterans’ life satisfaction. We gave a battery of surveys to a large and diverse sample of veterans, measuring aspects of military culture and service, the moral ramifications of military experiences and attitudes and experiences with disclosing these experiences to civilians. Most important, we found that greater moral injury was associated with greater concerns about disclosure. Greater disclosure concerns were associated with lower perceptions of disclosure support, which in turn was associated with lower life satisfaction. We conclude that these findings suggest that a more nuanced account is required to fully understand the relationship between moral injury, disclosure attitudes, and life satisfaction. For promoting healthy reintegration and greater satisfaction with life, and we discuss several possibilities for future research.

Corporate Governance and the Pricing of Initial Public Offerings: Evidence from Global Board Reforms

We document that global board reforms are associated with a significant reduction in IPO underpricing. The effect is amplified for IPOs with greater agency problems and mitigated for IPOs certified by reputable intermediaries, IPOs with greater disclosure specificity, and IPOs in countries with better shareholder protection and stringent financial reporting regulations. Furthermore, global board reforms have led to an improvement in the long-term market performance, proceeds, and subscription level of IPOs, and have enhanced board independence in the issuing firms. Our findings suggest that global board reforms have strengthened board oversight in the issuing firms, leading to less underpriced IPOs.

Stress Tests Disclosure: Theory, Practice, and New Perspectives

We review various costs and benefits of disclosure of stress test results and the models behind the tests and provide unified frameworks to evaluate the tradeoffs. We also review the evolution of practice on the disclosure of stress test results over the years and caution against the link between greater disclosure and weaker tests.

Information Privacy Protection under Anti-Money Laundering Legislation: An Empirical Study in Taiwan

The newly added requirement in Taiwan’s Money Laundering Control Act to fully authenticate customers’ identity by regulated entities, particularly to reveal substantial beneficial owners, entails greater disclosure of customers’ private information. How to strike the balance between such disclosure and information privacy protection has not been mentioned yet in Taiwan. The goal of this research paper is to identify support measures, consisting of criteria, sub-criteria, and alternatives, for information privacy protection for future change. A questionnaire was developed through applying the modified Delphi method. This study also applied the analytic hierarchy process to the questionnaire to prioritize the importance of different criteria and sub-criteria and find the optimal alternative. The search results indicated that the criteria were (in order of importance) internal control in financial institutions, prior surveillance mechanisms, informed consent, and safe-harbor immunity. Further examination of the details for the sub-criteria indicated that the establishment of an external independent supervising mechanism and the adoption of a personal information impact assessment are increasingly prioritized for implementation. Moreover, Alternative 2 (“Public and private entities should implement criteria and sub-criteria simultaneously”) weighed 0.62 more in terms of importance compared with Alternative 1 (“Public entities should implement criteria and sub-criteria first”), which weighed 0.38.

Predicting Corporate Carbon Footprints for Climate Finance Risk Analyses: A Machine Learning Approach

This paper uses machine learning to improve the prediction of corporate emissions so that financial regulators and investors can make better decisions about climate transition risk. The need for predictions arises because only a subset of global companies report emissions. The novelty is to use machine learning rather than the conventional regression approaches and naive models implemented by data providers. Our best-performing model is a two-step framework that applies a Meta-Elastic Net learner to combine predictions from multiple base-learners. It results in an accuracy gain based on mean absolute error of up to 30% as compared with the existing models. We find that prediction accuracy can be further improved by incorporating additional predictors (energy data) and additional firm disclosures in particular sectors (utilities and real estate) and regions (Asia and Latin America). This provides an indication of where policymakers should concentrate their efforts for greater disclosure.

Corporate environmental disclosure in the integrated reporting regime: The case of listed mining companies in South Africa

Orientation: The emergence and adoption of integrated reporting (IR) opens up a new agenda for improving the level of environmental disclosures, especially for listed companies. This study explores the environmental information disclosed by mining firms that are listed on the Johannesburg Stock Exchange (JSE) and in essence expects that the level of corporate environmental disclosure (CED) will improve compared to the periods prior to the mandatory requirement of IR. Research purpose: This article examines the extent to which IR has influenced the level of CED among mining firms listed on the JSE. In addition, it determines variation in the level of CED on account of corporate governance attributes and firm-based characteristics. Motivation for the study: The natural capital is an integral fundamental concept upon which the other five capitals depend. The negative impacts of mining activities on the environment necessitate that mining firms demonstrate higher levels of commitment in this regard. Research approach/design and method: This study utilises data for the top 100 mining firms in the JSE between 2015 and 2018. This study obtained data on environmental and other variables through content analysis of the annual integrated and sustainability reports of sampled mining firms. Data analysis involves descriptive statistics and a one-way analysis of variance (ANOVA), with the aid of the Statistical Package for Social Sciences version 21. Main findings: We found no improvement in the level of CED under the IR approach compared to earlier periods. Further, the study found that firm size and board size are associated with the level of CED. Practical/managerial implications: If greater disclosure of information is preferable to less, policy-makers and regulators should give particular attention to environmental issues by extending the minimum regulatory requirements concerning the concept of the natural capital. Contribution/value-add: This study is one of the first few studies that bring to fore the relevance of IR to CED in the South African mining sector.

Clinic-Based Pediatric Disclosure Intervention Trial Improves Pediatric HIV Status Disclosure in Ghana.

Disclosing HIV status to HIV-positive children is a major challenge facing families and health care providers. Despite recommendations for disclosure, rates remain low. We tested whether a pediatric HIV disclosure intervention delivered as an integral component of routine HIV health care in Ghana would improve disclosure to children. Dyads of HIV-infected children aged 7-18 years and their caregivers were enrolled from 2 HIV clinics in Accra and Kumasi, Ghana. The sites were randomly assigned to one of the 2 intervention arms to avoid treatment contamination between intervention and control participants. Trained interventionist used theory-guided therapeutic communication and personalized interaction to promote disclosure. Disclosure outcomes were measured at 12-week intervals. All analyses were completed using a modified intention-to-treat approach. We enrolled 446 child-caregiver dyads (N = 240 intervention group; N = 206 control group); 52% of the children were boys, mean age 9.78 (±2.27) years. For disclosure at 1 year, a better overall treatment effect was observed (P < 0.001). Children in the treatment group had greater disclosure at each time point (P < 0.001) and a higher proportion of them had been disclosed to by 1 year (51.4% vs. 16.2%; P < 0.001; un-adjusted hazard ratio = 3.98: 95% confidence interval: 2.63 to 6.03) and 3 years (71.3% vs. 34.0%; unadjusted hazard ratio = 4.21: 95% confidence interval: 3.09 to 5.72). In the multivariate Cox model, factors associated with disclosure were treatment group (P < 0.001), children <11 years of age (P < 0.001), HIV-infected caregivers (P = 0.015), and caregiver's with greater education (P = 0.022). This practical clinic-based disclosure intervention shows excellent promise as a means of improving HIV pediatric disclosure outcomes.

Accounting Information, Disclosure and Expected Utility: Do Investors Really Abhor Uncertainty?

Investors are said to abhor uncertainty, but if there were no uncertainty they could earn only the risk-free rate. A fundamental result in the analytical accounting literature shows that investors buying into a CARA-normal CAPM market pay lower asset prices, earn higher expected returns, and obtain higher expected utility, when the market payoff has higher variance. New investors obtain similar welfare gains from risk under a log/power utility CAPM. These results do not imply that investors abhor To realize investors' ex ante expectations, the subjective probability distributions representing market expectations must be accurate. Greater payoff risk can add to investors' expected utility, but higher ex post (realized) utility comes from better information and more accurate ex ante expectations. An important implication for accounting is that greater disclosure can have the simultaneous effects of (i) exposing more accurately firms' payoff uncertainty and thereby increasing new investors' expected utility, and (ii) improving market estimates of firms' payoff parameters (means, variances, covariances), thereby giving investors a better chance of realizing their expectations. Paradoxically, better information can be valuable to new investors by exposing more accurately the uncertainty in firms' business operations and results. New investors maximizing expected utility typically want both more uncertainty and better information.

Parental Solicitation and Adolescents’ Information Management: The Moderating Role of Autonomy-Supportive Parenting

Parents’ knowledge of children’s activities, friends and whereabouts is widely recognized as a promotive factor for adolescents’ psychosocial adjustment. As previous research showed, this knowledge mainly depends on adolescents’ willingness to disclose information about their daily lives. Parents can actively encourage adolescents’ disclosure by initiating conversations. However, such parental solicitation for information may be perceived as intrusive, and ironically lead to more concealment. In the present study, we examined whether and under which conditions parental solicitation for information is related to adolescents’ information management, thereby examining whether adolescents’ perceptions of an autonomy-supportive (vs. controlling) parenting context moderated these associations. 351 Swiss adolescents (45.6% girls; mean age = 15.01 years) completed self-report questionnaires about their mother and their father separately. Generally, parental solicitation for information was statistically significantly associated with greater disclosure. Further, perceived autonomy-supportive (vs. controlling) parenting altered some of the links between solicitation for information and adolescents’ information management strategies. Specifically, for both mothers and fathers, parental solicitation for information was respectively associated with more lies at low levels of autonomy support, and with fewer lies at high levels of autonomy support. We also found, for fathers only, that parental solicitation for information was associated with less secrecy at low levels of autonomy support. These findings underscore that the general parenting context in which parents solicit for information has implications for adolescents’ information management.