Increased Information Disclosure Research Articles

Can Stress Put Digital Privacy at Risk? Evidence from a Controlled Experiment Examining the Impact of Acute Stress on Privacy Decisions on a Simulated Social Network Site.

Internet and Communication Technologies (ICTs) can foster efficient communication and knowledge acquisition, but there are also tradeoffs in terms of risks to one's privacy. Previous research, including work with the privacy calculus framework, indicates that factors such as perceived risks and benefits of using ICTs, ICT trust, and general privacy concerns can influence individuals' digital privacy-related decisions. One pervasive psychological factor that may potentially alter such privacy-related behaviors is acute stress. Acute stress can promote risk-seeking behaviors and a tendency to prefer immediate rewards over delayed, greater value rewards. However, the effect of acute stress in the applied context of privacy decision making is relatively unknown. Participants (N = 143) in this study were randomly assigned to either an acute stress task (socially evaluated cold pressor task) or an active control task (lukewarm water alone). Results revealed that acute stress condition increased information disclosure, as indexed by accepting more online cookies, sharing one's location more frequently, and revealing greater willingness to self-disclose personal information. In addition, the impact of individuals' levels of perceived risk and benefits, trust, and privacy concern on privacy decision making was examined. However, none of these constructs consistently influenced privacy decisions over and above the effect of stress. Overall, our findings suggest that acute stress has robust, independent influence on privacy decision making.

Pelatihan Penggunaan Aplikasi Sistem Informasi Gender dan Anak Tingkat Kota Kendari Tahun 2023

The use of information and communication technology (ICT) in the world has become increasingly widespread. This can be seen from the use of ICT which is not limited to the trade sector, but also in other fields, such as education, defense and state security, social and so on. ICT is used because it has advantages compared to using traditional methods of interaction. The advantages of ICT are speed, convenience, lower costs, data centralization and data access that can be used by all groups. With the advantages as above, it can be said that using ICT can create efficiency in the movement of human life in interacting with each other. Therefore, ICT is widely applied in various fields of human life, and with the advantages offered by this technology, it is starting to be applied in government practice. The development of technology and information sources from all media, it turns out that internet media is currently very popular with the public and business people. The information obtained is fast and accurate and can also be used and obtained anywhere. The use of technology and information is increasingly wider in scope, including in government management. Implementing E-Government is also a necessity in responding to challenges in the current Information Technology Era. One of them is by developing a website that can increase information disclosure. By implementing a website, it can help provide information and as a means to reach the public, which of course can help the performance of the Kendari City Women's Empowerment and Child Protection Service (DPPPA) to improve services to the community.

Tell me more, tell me more: repeated personal data requests increase disclosure

Abstract Personal data is of great commercial benefit and potential sensitivity. However, for the consumers who provide their personal data, doing so comes with potential costs, benefits and security risks. Typically, consumers have the option to consent to the use of personal/sensitive data but existing research suggests consumer choices may only be weakly related to their concerns (the privacy paradox). Here, we examine if the repetitive nature of data requests alters behaviour but not concern, therefore, explaining the divergence. This work is theoretically grounded in ‘Foot in the door’ research in which small initial requests facilitate subsequent larger requests. An initial laboratory study asking for real, personal data demonstrated increased information disclosure at a subsequent request. A second online study replicated the increased information disclosure effect and found no change in associated privacy concern. We find this supports foot-in-the-door as one explanation of the privacy paradox. We suggest ways for businesses and consumers to encourage an acceptable level of disclosure to match personal beliefs for mutual trust and benefit.

Asymmetric Information in New Investment: Evidence in Indonesia

Abstract Intra-industry sectors are producers of asymmetric information, which in turn has an impact on capital structure decisions. The purpose of this study was to determine (1) differences in debt-equity ratio, growth opportunities, firm age, and firm size as firm characteristics and (2) differences in the effect of growth opportunities, firm age, and firm size on the debt-equity ratio between manufacturing and nonmanufacturing firms. We collected 3,063 observation units consisting of 2,628 manufacturing sectors and 435 non-manufacturing sectors in the Indonesia Stock Exchange (IDX) and trimmed the data to eliminate the top and bottom 20%. Manufacturing firms are older and more stable, using their profitability to increase information disclosure. Although they produce lower asymmetric information, they do not prefer external financing as an effort to reduce intervention. In contrast, non-manufacturing firms have less tangible assets as a proportion of their total assets than manufacturing firms and therefore produce less asymmetric information of intrinsic value (tangible assets). As a result, manufacturing firms prefer debt issues over equity issues when financing new investments.

Evaluating Cognitive Privacy Heuristics that Influence Facebook Users Data Disclosure

Privacy protection has been a challenging issue in online social networks, such as Facebook, Instagram, and Snapchat. The General Data Protection Regulation (GDPR), which protects the privacy and security of individuals, entered into force on May, 2018. This regulation intends to enhance individuals’ control and rights over their own data, guided by lawfulness, loyalty, transparency, adequacy, purpose limitation, need, or minimization. However, despite regulatory efforts to protect personal data online, users are prone to consent to disclose more personal information than they intend and tend to reveal more than they know. With this in mind, the main goal of this study is to carry out a heuristic evaluation of the online social network Facebook to identify the factors that influence the disclosure of user information and verify informed consent. For this, we carried out a survey of cognitive heuristics that influence individuals’ decisions to protect or renounce their privacy. Then, using these heuristics, we conducted a heuristic evaluation on Facebook to explore a significant presence of cue triggers for a specific cognitive heuristic that helps users make their decisions. We found on Facebook a notable amount of heuristics that increase information disclosure, such as modality and narrative. However, the intrusiveness heuristic was also detected, violating the Privacy by Design (PbD) principle of "Privacy as the Default Setting". Accordingly, understanding the number and diversity of suggestions (heuristics) to which users are susceptible allows the creation of explicit guidelines addressing privacy concerns.

Economic policy uncertainty and stock liquidity: The mitigating effect of information disclosure

We examine the relationship between economic policy uncertainty, information disclosure and stock liquidity using a large sample of Chinese firms. We first establish that economic policy uncertainty leads to declining stock liquidity. Next, we provide evidence that managers respond to uncertainty shocks to their firm’s information environment by producing more information. Cross-sectional tests indicate that voluntary information disclosure increases more for firms with higher external information demand and with no implicit guarantees. Furthermore, we find that high information disclosure quality mitigates the negative impact of heightened economic policy uncertainty on stock liquidity. This impact is more pronounced for firms with poor information environments and private firms. Additionally, we provide further evidence using cumulative abnormal returns that in periods of high economic policy uncertainty, investors react more to management earnings announcements for firms with high information disclosure quality. Finally, we uncover that increased information disclosure quality improves financial analysts forecast precision more when policy uncertainty is high.

Company Size, Profitability, and Growth on Abnormal Stock Return with Carbon Emission Disclosure

The capital market is an alternative investment that provides investors with the opportunity to earn profits, which is known as stock profits. The more desirable a stock will cause abnormal stock returns, namely the difference between the actual profit and the expected profit. Carbon Emission Disclosure (CED) in financial statements is one of the drivers that affect stock prices on stock returns. Several factors that influence the disclosure of carbon emissions, namely the company size where larger companies have higher pressure than small companies, so companies will increase information disclosure to build a good social image and gain legitimacy as part of the company's business strategy. Disclosure of carbon emissions can be used as a form of company effort to gain legitimacy and a good image in the eyes of stakeholders, profitability provides companies with resources to gain public confidence that business profits can be made in line with disclosure of carbon emissions, and company growth shows carbon emission information is able to provide confidence in stakeholders on the company's sustainable prospects in the future. The population in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2018-2020. The sampling technique was carried out using purposive sampling which resulted in 240 samples from 2018-2020. The tool used to test the hypothesis uses Path Analysis with SPSS version 22. The results show that company size, profitability, and company growth have a positive effect on CED, while CED has a negative effect on abnormal stock returns, company size and company growth have positive effect on abnormal stock returns, while profitability has no positive effect on abnormal stock returns.

Economic Policy Uncertainty and Enterprise Earnings Information Content: Evidence from China

Earnings information as a key factor affecting investors' decisions, has attracted much attention from scholars in recent years. Based on the data of A-share listed companies from 2002 to 2019, this paper examines the impact of economic policy uncertainty on earnings information content of enterprises through multiple linear regression, empirical results show that: 1. the benchmark results show that the uncertainty of economic policy significantly improves the earnings information content of enterprises. The above conclusions still hold after changing the uncertainty index of economic policy, carrying out the lag and lag treatment during the uncertainty of economic policy, and carrying out the robustness test by changing the measure method; 2. mechanism studies show that enterprises are more likely to attract investors' attention under uncertain environment, and the supervision pressure from investors forces enterprises to reduce earnings management and increase information disclosure, thus enhancing investors' trust in corporate earnings; 3. the expansion study found that the more high-quality accounting information, so as to establish a good corporate reputation among investors. The research conclusion not only expands the existing literature on the impact of economic policy uncertainty on the content of corporate earnings information, but also provides a new perspective and new empirical evidence for understanding whether and how the uncertainty of economic policy will affect the content of corporate earnings information, and has a certain practical significance.

Natural Disaster Impedes the Corporate Earnings Management in the U.S.

We examine the timing and magnitude of earnings management following natural disasters to provide new insights into how and when firms manage earnings. Using difference-in-difference regressions and a sample of U.S. publicly listed firms from 1980 to 2017, we find that natural disasters reduce the magnitude of corporate earnings management by 19.5% in the two-year, post-disaster period. Natural disasters attract the attention of investors and intensify external monitoring, which results in reduced levels of corporate earnings management. In addition, we find increased information disclosure quality following disasters. Our findings of reduced earnings management following negative, external shocks contradict the predictions of big bath accounting practices.

The dark side of transparency: Does the Nigeria extractive industries transparency initiative help or hinder accountability and corruption control?

This study explores the dark side of transparency by problematizing the Nigeria Extractive Industries Transparency Initiative (NEITI) as a transparency, accountability and anti-corruption initiative in Nigeria. It does this by interrogating the underlying assumptions that transparency in the form of increased information disclosure inevitably leads to enhanced accountability and reduced corruption. Theoretic insights are drawn from the transparency literature as well as from the International Accounting Standards Board's framework for financial reporting. The findings enable a more nuanced understanding of transparency – where and when transparency works, and where and when it may lead to unintended outcomes. They show how increased information disclosure conceals and legitimises the weak and corrupt reporting systems and practices of government agencies. They highlight the importance of understandability of information disclosed as a key requirement of transparency. They illustrate that transparency is a complex social process by highlighting the means by which the government tries to gain control of the NEITI organisation and how NEITI's ability to operate effectively is dependent on the political will of the government in power. The findings also demonstrate that the instrument through which transparency is enacted is itself a central actor in the transparency process as historical corruption within the NEITI bureaucracy as well as the opacity of NEITI as an organisation lead to outcomes of distrust, uncertainty and doubt amongst NEITIs target audience.

Eliciting human intelligence: The effects of social exclusion and inclusion on information disclosure

AbstractEliciting information from semicooperative sources presents a major challenge in investigative and intelligence settings. This research examines the role of the human need to belong in individuals' willingness to disclose critical information. We hypothesised that social exclusion would exert a threat to individuals' need to belong and self‐esteem, which would make them strive for social reconnection through sharing information with others. In two experiments (N = 150 and N = 135), social exclusion and inclusion were manipulated before participants were given the opportunity to disclose critical information in a semicooperative game setting (Study 1) or a mock intelligence interview (Study 2). Social exclusion did not influence information disclosure in any of the experiments. Instead, however, social inclusion unexpectedly increased information disclosure in the interview setting. We conclude that prior social experiences can influence the outcome of subsequent interviews, but the precise mechanisms underlying such influence are currently unknown.

Facilitating disclosure in intelligence interviews: The joint influence of helpfulness priming and interpersonal approach

AbstractThis study examined the joint influence of helpfulness priming and a helpfulness‐focused interpersonal approach on information disclosure in an intelligence interview. We based the research on the theoretical proposition that consistency between an interviewee's primed dispositions and an interviewer's interpersonal approach would facilitate disclosure. Participants (N = 116) took on the role of an informant with information about an upcoming terror attack. Afterwards, an interviewer solicited information about the attack using an interpersonal approach that exhibited either high (helpfulness‐focused) or low (control) fit with helpfulness concerns. Prior to the interview, in a seemingly unrelated experiment, we primed participants' helpfulness motivation and assessed their cognitive accessibility to helpfulness‐related constructs. We observed that helpfulness priming increased information disclosure when the helpfulness‐focused interpersonal approach was used but not when the control protocol was used. This research suggests that implementation of an interpersonal approach that complements an interviewee's primed dispositions may function symbiotically with the previous priming to facilitate information disclosure.

Adolescents' privacy concerns and information disclosure online: The role of parents and the Internet

This study investigated the role of parents and the Internet in adolescents' online privacy concerns and information disclosing behaviors. Specifically, instructive and restrictive parental mediation, adolescents' self-disclosure to parents about their Internet experiences, time spent on the Internet, and participation in online communication activities were examined as factors that may impact adolescents' concerns about online privacy, willingness to disclose personally identifiable information, and actual disclosure of personal information online. A survey conducted in Singapore with 746 adolescents aged 12–18 revealed that instructive parental mediation based on parent-adolescent communication was more effective than restrictive parental mediation based on rule-making and controlling in reducing information disclosure among adolescents. Adolescents' self-disclosure to parents about their Internet experiences was found to be positively associated with their privacy concerns but did not foster privacy protection behaviors. While online chatting had a positive relationship with privacy concerns, excessive use of the Internet and frequent participation in social networking and online gaming resulted in increased information disclosure.

Information disclosure and price manipulation during the pre-closing session: evidence from an order-driven market

On 20 February 2012, the Taiwan Stock Exchange Corporation launched an order-matching simulation mechanism for five minutes during the start of the pre-closing session, in order to increase information disclosure during this period (13:25–13:30). Pre-closing information disclosure significantly reduces both trading costs and closing-price volatility, as well as price manipulation. The decrease in price manipulation found in this work is due to pre-closing information disclosure, not the behaviour of investors shifting to an earlier time. Further, if a stock price rises or falls by more than 3.5% in the simulation in the last minute during the closing session, trading of the stock will be suspended for two minutes from 13:31 to reduce volatility. However, this trading mechanism (suspended-closing) does not seem to have achieved the intended goals of the authorities, as it has not been able to significantly reduce closing-price volatility and price manipulation.

Environmental risks of high-speed railway in China: Public participation, perception and trust

Two decades ago China entered an era with rapid expansion of transport infrastructure. In an ambitious plan on high-speed railway development, China plans to have the longest high-speed railway network by 2020. Social concerns and anxiety with the adverse environmental and social risks and impacts of high-speed railways are related to the lay-out, the construction and the daily operation of high-speed trains. While anecdotal evidence of concerns and anxieties of Chinese citizens on high-speed railway systems exist, systematic assessment of concerns, anxieties, protests and support of Chinese citizens regarding the planning, implementation and daily operation of high-speed railways is absent. This study investigated high-speed railway related public views, risk perceptions and trust of Chinese residents living along the Beijing-Shanghai high-speed railway. The results show high public acceptance in high-speed railway, due to perceived low environmental and social risk and high economic and social benefits. The current closed, government-dominated decision-making, opaque information provisioning, and lack of communication with and involvement of residents cause low levels of trust in railway-related local governmental agencies and companies. The increasing ‘room for manoeuvre’ of China׳s civil society may increase information disclosure and transparency, two-way risk communication and public participation in future large infrastructure development.

Revenue Sharing as an Incentive for Increased Information Disclosure in Outsourcing Relationships: An Experimental Investigation

The objective of this article is to investigate the impact of revenue-sharing contracts regarding the willingness to share information in a logistics outsourcing relationship. A behavioral laboratory experiment is applied to analyze the behavior of the participants with the revenue-sharing contract. The first results imply that revenue-sharing contracts can serve as an incentive to get more information from the customer through using a guaranteed revenue share.

Corporate disclosure, transparency and cost of equity capital: evidence from Ghana's stock market

This paper finds, consistent with Lopes and de Alencar (2010), that the strength of association between corporate information disclosure and cost of capital depends on the corporate disclosure environment. This paper finds that in an environment where disclosure requirement is not rich, the higher variation from the disclosure practices of firms leads to significant lower cost of equity capital. Corporate firms that commit resources to increased information disclosure and transparency are compensated with lower cost of equity capital, reduced information asymmetry between corporate insiders and investors which leads to lower or little discount on their shares hence the lower cost of equity capital reported. Corporate disclosure and transparency is statistically significantly negatively related to cost of equity capital on the Ghana Stock Exchange (GSE).

Information Disclosure and Fundamental Disagreement: Implications for Financial and Non-Financial Firms

This paper develops a theory of information disclosure with disagreement, and then examines its implications for financial and non-financial firms. I build a model in which managers of firms are voluntarily communicating objective and subjective information, and prior beliefs about the strategy to maximize project value are rational but heterogeneous, creating the possibility of fundamental disagreement. Four main sets of results are derived. First, not all firms disclose (subjective) information about strategy that can potentially increase disagreement with investors. This lack of disclosure occurs even though there are no exogenous communication costs, and 'proprietary signaling costs' are precluded because the model has no spillover effects related to the firm’s product-market competitors. Second, more valuable firms voluntarily disclose less information in equilibrium. Third, information disclosure has real consequences because it interacts with project values, investor relations and corporate governance. Thus, this paper provides an economic rationale for higher-quality firms to withhold more strategic information, and this has pervasive consequences. Fourth, banks, facing greater withdrawal risk than non-financial firms, optimally disclose less strategic information than non-financial firms. Regulations that compel banks to increase information disclosure have the unintended consequence of making banks more fragile. Hence, the analysis exposes a potential tension between information transparency and greater fragility in banking. Improvements in corporate governance will lead banks to voluntarily disclose less strategic information, become less fragile, keep less on-balance-sheet liquidity, and make longer-maturing loans.

Information Disclosure and Fundamental Disagreement: Implications for Financial and Non-Financial Firms

This paper develops a theory of information disclosure with disagreement, and then examines its implications for financial and non-financial firms. I build a model in which managers of firms are voluntarily communicating objective and subjective information, and prior beliefs about the strategy to maximize project value are rational but heterogeneous, creating the possibility of fundamental disagreement. Four main sets of results are derived. First, not all firms disclose (subjective) information about strategy that can potentially increase disagreement with investors. This lack of disclosure occurs even though there are no exogenous communication costs, and “proprietary signaling costs” are precluded because information is being communicated only to the financial market and not to the firm’s product-market competitors. Second, more valuable firms voluntarily disclose less information in equilibrium. Third, information disclosure has real consequences because it interacts with project values, investor relations and corporate governance. Thus, this paper provides an economic rationale for higher-quality firms to withhold more strategic information, and this has pervasive consequences. Fourth, banks, facing greater withdrawal risk than non-financial firms, optimally disclose less strategic information than non-financial firms. Regulations that compel banks to increase information disclosure have the unintended consequence of making banks more fragile. Hence, the analysis exposes a potential tension between information transparency and greater fragility in banking. Improvements in corporate governance will lead banks to voluntarily disclose less strategic information, become less fragile, keep less on-balance-sheet liquidity, and make longer-maturing loans.

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.