The Effect of Voluntary Disclosure of Non-financial Performamce Indicators on Company Valuation Judgments

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Author :
Publisher :
ISBN 13 :
Total Pages : 358 pages
Book Rating : 4.:/5 (271 download)

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Book Synopsis The Effect of Voluntary Disclosure of Non-financial Performamce Indicators on Company Valuation Judgments by : Paul James Coram

Download or read book The Effect of Voluntary Disclosure of Non-financial Performamce Indicators on Company Valuation Judgments written by Paul James Coram and published by . This book was released on 2005 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effect of Voluntary Disclosure of Non-financial Performance Indicators on Company Valuation Judgements: an Experimental Analysis

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Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (845 download)

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Book Synopsis The Effect of Voluntary Disclosure of Non-financial Performance Indicators on Company Valuation Judgements: an Experimental Analysis by : Paul James Coram

Download or read book The Effect of Voluntary Disclosure of Non-financial Performance Indicators on Company Valuation Judgements: an Experimental Analysis written by Paul James Coram and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The evaluation of financial risk profile of the companies and the mandatory disclosure on Liquidity and Credit Risk

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Author :
Publisher : Olga Maria stefania Cucaro
ISBN 13 :
Total Pages : 255 pages
Book Rating : 4.2/5 (22 download)

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Book Synopsis The evaluation of financial risk profile of the companies and the mandatory disclosure on Liquidity and Credit Risk by : Olga Cucaro

Download or read book The evaluation of financial risk profile of the companies and the mandatory disclosure on Liquidity and Credit Risk written by Olga Cucaro and published by Olga Maria stefania Cucaro. This book was released on 2020-10-18 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: THE EVALUATION OF FINANCIAL RISK PROFILE OF THE COMPANIES AND THE MANDATORY DISCLOSURE ON LIQUIDITY AND CREDIT RISK is a work born from a careful study of the evolution of the Italian and European legislation on the subject of financial risk communication and in particular of IFRS 7, Finacial Instruments: Disclosure. Thanks to this international accounting standard, Italian listed companies have included a greater number of disclosures on financial risks in their financial statements, but while there is no doubt the quantitative increase in information, the qualitative value of this communication is doubtful. In this regard, the study analyzes the usefulness of the disclosure introduced by IFRS 7 for financial analysts. The choice of analysts is a natural choice due to the importance they hold as intermediaries in the communication channel between companies and the market.

Non-Financial Performance Indicators (R&D) Impact on Individual Investors' Decision Making

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Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Non-Financial Performance Indicators (R&D) Impact on Individual Investors' Decision Making by : Ata Alloh Mohammadi

Download or read book Non-Financial Performance Indicators (R&D) Impact on Individual Investors' Decision Making written by Ata Alloh Mohammadi and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Special committee of the AICPA on financial reports has urged disclosure of related non-financial performance measurers and forward-looking information to addition customary financial reports (AICPA, 2002). This study shows an experiment that examines whether additional disclosure of non-financial performance measurement (R&D) impact on individual Investors' net earnings estimates. An experiment was directed applying investors who were prepared with a hypothetical firm's annual report. The experiment presented to include two levels (additional disclosure positive non-financial performance (R&D), negative non-financial performance (R&D) 1 (financial statements only as control group) between-subjects design. The individual investors with high education and knowledge reacted to the negative and positive information, as anticipated from the prior research. The results show that the value of positive additional disclosure of non-financial performance (R&D) may not overflow in an equal manner to all users of financial statements. It also indicates that regulatory intervention to additional disclosure to all investors may not have the desired effect if cognitive biases, and lack of task-specific knowledge, adversely affect their decision-making. I provided in advance proof on disclosures that can help individual investors. When my experiment sets convergent proof of the impact of these disclosures in a controlled setting, in addition, it prepares fresh proof that the differences in investors' appraisals are probably involuntary, caused by reminder bound. This study found that additional disclosures non-financial performance (R&D) improve individual investors decision making, although these disclosures are superfluous with data in the initial financial reports.

Voluntary Disclosure of Company Information - Costly Additions or a step towards Competitive Advantage?

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Author :
Publisher : diplom.de
ISBN 13 : 3832448292
Total Pages : 141 pages
Book Rating : 4.8/5 (324 download)

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Book Synopsis Voluntary Disclosure of Company Information - Costly Additions or a step towards Competitive Advantage? by : Patrick Roy

Download or read book Voluntary Disclosure of Company Information - Costly Additions or a step towards Competitive Advantage? written by Patrick Roy and published by diplom.de. This book was released on 2001-12-12 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: In a first step, this ERP derives the theoretical necessity to provide voluntary strategic and non-financial Information. It is argued that companies are an integral part of a common environment and society, acting in a framework of interdependent relationships. A company is more and more seen as a community of interests of different groups, and it can only act in an optimal way if the demands of all groups are taken into account and its behaviour is adjusted accordingly. In this context, interest groups' demands for company Information depend an the possibilities of improvements in decision making or monitoring that arise with its use, which in turn is mainly determined by the potential of Information to reduce uncertainty in the areas of interest. For external decision-makers, uncertainty often arises from sources about which conservative company statements provide little insight. Due to the traditional, finance-oriented concept of disclosure, this is particularly true for strategic and non-financial aspects. Related additional Information that is voluntarily provided can considerably reduce uncertainty, even more so as part of audited statements. Conventional financial reporting and existing disclosure requirements will generally not nearly satisfy those information needs of user groups. Any economic action, though, should only be taken if related benefits are exceeding related costs. This priority of economicalness also holds for companies' production, processing and disclosure of Information. Therefore, it is necessary to consider as detailed as possible potential opportunities and disadvantages for voluntarily disclosing company Information both an and outside capital markets. This is done in a second major part of the present work. First, voluntary disclosure can potentially affect share prices and thereby the market value of the firm, markets not being strong-form efficient. So, by giving company Information, a higher market value can directly be induced, thereby potentially lowering the cost of capital which, for example, improves the company's competitive position in the battle for cheap additional financing. [...]

Understanding Investors' Reliance on Disclosures of Nonfinancial Information

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Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (95 download)

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Book Synopsis Understanding Investors' Reliance on Disclosures of Nonfinancial Information by : Lei Dong

Download or read book Understanding Investors' Reliance on Disclosures of Nonfinancial Information written by Lei Dong and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation investigates investors' reliance on corporate voluntary disclosures of nonfinancial information through two studies consisting of three experiments.

Mandatory Non-financial Risk-Related Disclosure

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Author :
Publisher : Springer Nature
ISBN 13 : 3030479218
Total Pages : 176 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Mandatory Non-financial Risk-Related Disclosure by : Stefania Veltri

Download or read book Mandatory Non-financial Risk-Related Disclosure written by Stefania Veltri and published by Springer Nature. This book was released on 2020-07-31 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the impact of the disclosure of non-financial risk, which could be seen as the most relevant non-financial information (NFI), in the aftermath of the 2014/95/EU Directive. The author analyses whether the switch from voluntary to mandatory NFI enhance the quality of disclosed NF risk-related information and the usefulness of the risk disclosure for investors. The book focuses specifically on the mandatory disclosure of non-financial (NF) risks as required by the EU Directive for listed Italian companies, investigating both the state of art of its disclosure and its usefulness for investors. In doing so, the book contributes to fill two relevant gaps in risk literature. The first research gap is related to the insufficient investigation of the disclosure of NF risks. Companies mandated to disclose risk-related information focused mainly on financial risks, in spite of the width of the definition of risk, conceived as information about any opportunity, danger, threat, or exposure that has or could impact the company in the future. The second gap is that empirical evidence about the effects of corporate risk disclosures is still limited, and the potential benefits of the disclosure of information on risks have not been fully explored. In particular, the relationship between risk disclosures and firm value is under researched, as the risk literature mainly focuses on the incentives question, related to the motives for which companies decide to disclose. The research in this book focuses on Italy, a country that provides a unique opportunity to examine the impact of mandatory NF risk disclosure on firm market value, being one of the biggest industrial European countries that had not mandatory legislation for NFI disclosure, and also one of the leading countries in voluntary corporate social responsibility (CSR) reporting at an international level. It has been carried out in the fiscal year 2017, the first year of the application of the mandatory NF disclosure for obliged Italian listed PIEs. The book contributes both to the measurement literature, as it presents a self-constructed quality NF risks and to the value relevance analysis literature, providing evidence of the usefulness of financial and non-financial risk-related disclosures in the Italian context.

Three Essays on the Voluntary Disclosure and Managerial Incentive

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Author :
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (971 download)

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Book Synopsis Three Essays on the Voluntary Disclosure and Managerial Incentive by : Ling Tuo

Download or read book Three Essays on the Voluntary Disclosure and Managerial Incentive written by Ling Tuo and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The importance of an effective corporate communication with all stakeholders including shareholders has been extensively debated in the business literature in the aftermath of 2007-2009 global financial crisis. The key indicator of business value have shifted from accounting profits and stock market performance, formerly, to firm reputation and sustainability performance, currently. Therefore, the transparency and value-relevance of conventional financial reporting has been questioned in terms of its capability to satisfy increasing information needs of all stakeholders. Many doubt whether those traditional financial metrics derived from financial statements can appropriately capture firm & rsquo;s long-term value creation ability. In recent years, users of corporate reports are demanding more relevant financial and non-financial on key performance indicators and forward looking information above and beyond conventional financial statements. To satisfy the demands of information users and decision makers, companies are expected to not only increase their reporting transparency in conventional financial statements but also disclose more inside information to outside public through different types of voluntary disclosure. The first dissertation investigates the role of sustainability report through examining the associations among voluntary disclosure, earnings quality and audit fee. Recently more and more firms begin to release sustainability reports, one important channel of voluntary disclosure, to satisfy the needs of information users and increase the transparency of financial reporting. In this paper, I especially examine the effect of voluntary disclosure quality on those associations. Through Difference-in-Difference test, I find that the release of sustainability report is positively correlated with innate earnings quality and negatively correlated with discretionary earnings quality. Moreover, the positive (negative) correlation between sustainability report and innate (discretionary) earnings quality is more (less) pronounced when the voluntary disclosure quality is high. I also find that the release of sustainability report is associated with higher audit fees and thus it suggests that the sustainability report cannot substitute the traditional financial statement. My conclusions are robust through additional tests of OLS regressions. This paper has important political, academic and industry application. The second dissertation investigates how the firm & rsquo;s cost stickiness strategy is associated with the firm & rsquo;s management earnings forecast (MEF). I conjecture that the managerial incentive regarding the cost strategy and voluntary disclosure strategy are interdependent. When managers choose their cost management, they will also choose the corresponding management earnings forecast strategy to align their interests. Through the empirical tests with a sample between year 2005 and 2011, I find that the firm & rsquo;s level of sticky cost is positively associated with the firm & rsquo;s propensity to issue MEF and the frequency of MEF. Moreover, I find that the firm & rsquo;s level of sticky cost is associated with more good earnings news forecasted by managers. Finally, I find that the relation between cost stickiness and MEF behaviors is more pronounced when the MEF is long-horizon oriented and when the firm efficiency is high. My research builds a link between financial accounting information and managerial accounting information, and also provides new evidence to understand the managerial incentives behind each strategy chosen by managers. This third dissertation investigates how industry peer firms tend to influence the specific firm & rsquo;s voluntary disclosure strategy. Through examining the empirical example of management earnings forecast between 2005 and 2011 and implementing the 2SLS regressions, I find that the specific firm & rsquo;s disclosure frequency, disclosure horizon and the disclosure of bad news are significantly influenced by its peers firms & rsquo; disclosure behaviors. Specifically, the increase in the peers & rsquo; disclosure frequency, disclosure horizon and disclosure of bad news tend to encourage the specific firm to increase its disclosure frequency, disclosure horizon and disclosure of bad news. Moreover, certain firms (such as firms with S & P credit rating, higher profit, larger size or higher market-to-book ratio) tend to be more sensitive to their peer firms & rsquo; voluntary disclosure strategy. Finally, I find that the specific leader-follower relation doesn & rsquo;t exist in the peer effects of disclosure strategy and thus the signaling theory, litigation risk and CEO reputation are more major reasons than herding theory and free rider theory in explaining this phenomenon.

Advances in Accounting Behavioral Research

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Author :
Publisher : Emerald Group Publishing
ISBN 13 : 1804558001
Total Pages : 270 pages
Book Rating : 4.8/5 (45 download)

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Book Synopsis Advances in Accounting Behavioral Research by : Khondkar E. Karim

Download or read book Advances in Accounting Behavioral Research written by Khondkar E. Karim and published by Emerald Group Publishing. This book was released on 2023-03-13 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 26 of Advances in Accounting Behavioral Research compiles innovative and new explorations into the behavioral aspects of accounting and auditing including the effects of organizational commitment, the impact of stressors on performance, the effects of auditor familiarity and the examination of personality traits.

Is Voluntary Disclosure Value Relevant? Evidence from Italian Listed Companies

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Author :
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Is Voluntary Disclosure Value Relevant? Evidence from Italian Listed Companies by : Davide Scaltrito

Download or read book Is Voluntary Disclosure Value Relevant? Evidence from Italian Listed Companies written by Davide Scaltrito and published by . This book was released on 2016 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper aims to assess the level of voluntary disclosure in companies listed on the Italian Stock Exchange and understand the relationship between the quality of voluntary disclosure and market value of Italian listed companies. Voluntary disclosure refers to the discretionary release of financial and non-financial information, which companies are not obliged to disclose by accounting standard setting bodies. In particular, this paper analyzes the effect that disclosure of voluntary information could have on the stock market value of Italian listed companies. To do this, 203 annual reports of Italian listed companies for the year 2012 were analyzed. A voluntary disclosure index index is created to measure the extent of disclosure. The index is used in an ordinary least squares model, as a dependent variable, to understand relationships between the above-mentioned determinants. The disclosure score is composed mainly of 38 items per firm.A total of 7,714 items were collected and analyzed.Results show the level of voluntary disclosure provided by Italian listed companies in their 2012 annual reports positively and significantly affect the value relevance of Italian listed companies.

An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3668410623
Total Pages : 100 pages
Book Rating : 4.6/5 (684 download)

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Book Synopsis An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital by : Andreas Zweifel

Download or read book An Investigation of the Causal Effect of Voluntary Disclosure Quality on Cost of Equity Capital written by Andreas Zweifel and published by GRIN Verlag. This book was released on 2017-03-07 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2012 in the subject Economics - Finance, grade: 5.5, University of Zurich (Department of Banking and Finance), course: Economics and Finance, language: English, abstract: Does voluntary disclosure quality pay off? And if so, what are the driving forces behind the relationship of voluntary disclosure quality and the cost of equity capital? This study addresses these and other questions in the context of analyzing the determinants of the cost of equity capital for Swiss firms. The relation between voluntary disclosure quality and cost of equity capital is widely known to be affected by self-selection. Potential endogeneity bias is controlled for by adopting a two-stage least squares approach in a cross-sectional setting. Voluntary disclosure quality is proxied by the annual reports disclosure scores for a well-diversified sample of Swiss firms as developed by the Department of Banking and Finance of the University of Zurich. Further, an ex-ante cost of capital metric derived from the dividend discount model is used in this study. Empirical evidence shows that the association between voluntary disclosure quality and cost of equity differs with a firm's stock listing history. While the relation is predicted to be negative for firms at the IPO stage, it is likely reversed at some point in a firm's stock listing history. These results suggest that analysts' information processing activities negatively moderate the impact of voluntary disclosure quality on firm value. Importantly, the predicted interaction between voluntary disclosure quality and stock listing history remains significant when adjusting for endogeneity.

The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation

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Author :
Publisher :
ISBN 13 : 9789284684748
Total Pages : 82 pages
Book Rating : 4.6/5 (847 download)

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Book Synopsis The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation by : Tami Dinh

Download or read book The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation written by Tami Dinh and published by . This book was released on 2021 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Structured analysis of the current scientific evidence on the effects of sustainability reporting including non-financial performance indicators, stand-alone sustainability reporting as well as integrated reporting. It discusses the benefits and challenges particularly related to internal decision-making, external transparency as well as financial and non-financial/environmental, social and governance effects. Further, it offers policy recommendations in view of the European Commission’s proposal on the Corporate Sustainability Reporting Directive.

The Trend towards Corporate Voluntary Disclosures

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3638475263
Total Pages : 31 pages
Book Rating : 4.6/5 (384 download)

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Book Synopsis The Trend towards Corporate Voluntary Disclosures by : Reka Goch

Download or read book The Trend towards Corporate Voluntary Disclosures written by Reka Goch and published by GRIN Verlag. This book was released on 2006-03-03 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2005 in the subject Business economics - Controlling, grade: 2,0, Schmalkalden University of Applied Sciences, language: English, abstract: Introduction Recent scandals, like the Enron Bankruptcy, undermined the investors trust in the information given by the corporations. Enron, one of the biggest consolidated group in the US and in the world, became famous all over the world by the surprisingly bankruptcy in December of 2001. Even a few weeks before the petition of bankruptcy analyst recommended to buy Enron stock and thousands of investors lost their savings or their pension backups. By creative balancing Enron succeeded to take advantage of gaps in the Generally Accepted Accounting Principles (GAAP). Financial data in the annual business report was manipulated so that investors who relied on this information made wrong investment decisions. Likewise investors and analyst trusted in the confirmation of the accounting firm Arthur Andersen & Partner which was authorized to prove the correct balancing of Enron. The Enron Bankruptcy is just one example, many bankruptcies like the ones of Sunbeam, Waste Management or Global Crossing had followed yet. “Creative balancing” gained currency among other listed corporations and the value and the profitability of blue chips were overvalued. Scandals like this emphasize the importance of the given information for the entire stakeholders, critically the investment community, because they have a deep impact on the investment decisions. Corporations are more and more forced to offer corporate voluntary disclosures which fulfill the “call for evidence of activities” (cf. Pricewaterhouse- Coopers, 2000b, p. 1) made by the business environment and to regain public trust. Additionally, the globalization of markets has a strong influence on the corporations’ orientation. More and more corporations become international and listed. Thus, the competition on capital market increases and the constant need for capital requires a better explanation on the business performance. To help investors with their capital allocation decisions, corporations have to provide a more reliable, relevant, and useful information on a voluntary basis. In general, investors should get a better understanding of the corporation by more transparency. So, the traditional reporting in a vast number of corporations, based on financial data, is added by voluntary disclosures with the hope to hasten the process of the stock markets recognition of their corporate value. ...

The Voluntary Disclosure of Financial Information on the Internet and the Firm Value Effect in Companies Across Latin America

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Author :
Publisher :
ISBN 13 :
Total Pages : 25 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Voluntary Disclosure of Financial Information on the Internet and the Firm Value Effect in Companies Across Latin America by : Wesley Mendes-Da-Silva

Download or read book The Voluntary Disclosure of Financial Information on the Internet and the Firm Value Effect in Companies Across Latin America written by Wesley Mendes-Da-Silva and published by . This book was released on 2014 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Society has been imposing standards of ethical behavior on the corporations, above all as regards the degree of transparency of information about their activities being made available to the public. At the same time the world has gone through changes because of the Information Age. The old paradigms of communication have been definitely broken, bringing about changes in the day-to-day of the corporations. Thus the companies are increasing the use of the Internet as a means of investor relations. By that they present a greater degree of corporate transparency to the market, which may maximize value for the shareholders. Studies have evaluated that the practice of Corporate Governance adopted by Latin American companies is still in the beginning (La Porta et al. 2000 and Gibson, 2002). Also the scientific production about that theme is still very discreet in Latin America. Thus being, the objective of this article is to verify the existence of association between the disclosure of financial information using the Web (INFO) by Latin American companies and the firm value as measured by the Tobin's Q Ratio (Q). The study consists of a cross-section based on data from a group of 150 companies selected randomly and stratified considering the environment of the Stock Exchanges in Argentina, Brazil and Mexico in 2002. Multivariate analysis has made evident the existence of significant association between the firm value and the voluntary Disclosure of Financial Information. The results have also revealed that this association could vary according to the Industry sector (SECT) of the company or also its size (SIZE). It has also been observed that it is irrelevant the country (COUNT) in which the company operates to the association between the voluntary disclosure of financial information on its web page and the firm value.

Disclosure Interactions

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Author :
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Disclosure Interactions by : Miles B. Gietzmann

Download or read book Disclosure Interactions written by Miles B. Gietzmann and published by . This book was released on 2000 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this research we consider how disclosure of accounting policy interacts with subsequent choice over voluntary disclosure of a non-financial performance metric. We compare and contrast regimes. In the first, firms are free to choose between a conservative or an aggressive accounting policy before they decide whether to make additional voluntary disclosures. In the other regime, all firms either voluntarily or via mandation use the same accounting policy. We then investigate the cost of capital for firms under the two regimes. We show that communication via voluntary disclosure need not be a simple substitute for communication via accounting policy choice.Key Words: Voluntary disclosure; Accounting policy choice; Cost of capital.

An Experimental Investigation of Forward-Looking Non-Financial Performance Disclosures

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Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis An Experimental Investigation of Forward-Looking Non-Financial Performance Disclosures by : J. Richard Dietrich

Download or read book An Experimental Investigation of Forward-Looking Non-Financial Performance Disclosures written by J. Richard Dietrich and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The AICPA's Special Committee on Financial Reporting has urged disclosure of relevant forward-looking and non-financial information to supplement conventional financial statements. We conduct an experiment consisting of 20 laboratory security markets with eight participants each to assess the effects of such disclosures on capital allocation decisions. We observe four markets in each of five accounting information conditions: a baseline condition with an income statement and balance sheet only and four conditions that combine this baseline with supplemental disclosures of proved reserves (a best estimate), total reserves (an upper bound), and minimum reserves (a lower bound). We find first that proved reserve disclosures improve capital allocation decisions, even though these disclosures are redundant with information in the primary financial statements. Second, disclosures of the upper bound (total reserves) in the absence of lower bound (minimum reserves) has the potential to bias security prices upwards, while disclosures of both total and minimum reserves remove this bias. Third, a comparison of individual price predictions to actual market prices reveals both a systematic prediction error and a differential effect of supplemental disclosures on security prices, suggesting that experimental investigations of capital allocation decisions should include market settings. The paper concludes with a discussion of implications for accounting standard setters.

The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation

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Author :
Publisher :
ISBN 13 : 9789284685226
Total Pages : pages
Book Rating : 4.6/5 (852 download)

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Book Synopsis The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation by :

Download or read book The Role of Non-financial Performance Indicators and Integrated Reporting in Achieving Sustainable Value Creation written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The original full study is a structured analysis of the current scientific evidence on the effects of sustainability reporting including non-financial performance indicators, stand-alone sustainability reporting as well as integrated reporting. It discusses the benefits and challenges particularly related to internal decision-making, external transparency as well as financial and non-financial/environmental, social and governance effects. Further, it offers policy recommendations in view of the European Commission's proposal on the Corporate Sustainability Reporting Directive.