Voluntary Disclosure Of Corporate Strategy

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Voluntary Disclosure of Corporate Strategy

Author : Piet Hein Coebergh
Publisher :
ISBN 13 :
Total Pages : 214 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Voluntary Disclosure of Corporate Strategy by : Piet Hein Coebergh

Download or read book Voluntary Disclosure of Corporate Strategy written by Piet Hein Coebergh and published by . This book was released on 2014 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business leaders increasingly face pressure from stakeholders to be transparent. There appears however little consensus on the risks and payoffs of disclosing vital information such as corporate strategy. To fill this gap, this study analyzes firm-specific determinants and organisational outcomes of voluntary disclosure of corporate strategy. Stakeholder theory and agency theory help to understand whether companies serve their interest to engage with stakeholders and overcome information asymmetries. I connect these theories and propose a comprehensive approach to measure voluntary disclosure of corporate strategy. Hypotheses from the theoretical framework are empirically tested through panel regression of data on identified determinants and outcomes and of disclosed strategy through annual reports, corporate social responsibility reports, corporate websites and corporate press releases by the 70 largest publicly listed companies in the Netherlands from 2003 through 2008. I found that industry, profitability, dual-listing status, national ranking status and listing age have significant effects on voluntary disclosure of corporate strategy. No significant effects are found for size, leverage and ownership concentration. On outcomes, I found that liquidity of stock and corporate reputation are significantly influenced by voluntary disclosure of corporate strategy. No significant effect is found for volatility of stock. My contributions to theory, methodology and empirics offers a stepping-stone for further research into understanding how companies can use transparency to manage stakeholder relations.

Corporate Strategy and Information Disclosure

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

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Book Synopsis Corporate Strategy and Information Disclosure by : Daniel Ferreira

Download or read book Corporate Strategy and Information Disclosure written by Daniel Ferreira and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine voluntary disclosures of information about corporate strategies. We develop a model in which managers choose whether to reveal their strategic plans only to some partners of the firm or also to the outside world. We show that managers face a tradeoff when deciding whether to disclose their private information to outsiders. On the one hand, by disclosing their intentions, managers become reluctant to change their minds in the future. This may lead them to make inefficient project implementation decisions. On the other hand, information disclosure about corporate strategy provides strong incentives for partners of the firm to undertake strategy-specific investments.

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

Author : Patrick Roy
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. [...]

Voluntary Disclosure of Strategic Alternatives

Author : Jenny Zha
Publisher :
ISBN 13 :
Total Pages : 146 pages
Book Rating : 4.:/5 (957 download)

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Book Synopsis Voluntary Disclosure of Strategic Alternatives by : Jenny Zha

Download or read book Voluntary Disclosure of Strategic Alternatives written by Jenny Zha and published by . This book was released on 2016 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies a firm's decision to voluntarily disclose that it is seeking "strategic alternatives," effectively setting out to explore the potential sale or merger of the company. Firms appear to use these voluntary disclosures to maximize shareholder value and credibly convey private information. Voluntary disclosures of strategic alternatives are associated with a three-day return of +5.8 percent on average. Compared to an entropy-balanced control group with similar characteristics in expectation, disclosing firms that are subsequently acquired experience positive abnormal takeover returns (reflecting benefits from a more favorable sale process and improved information), whereas disclosing firms that are not subsequently acquired experience negative abnormal returns (reflecting costs from more dysfunction). The existence of economically significant costs and benefits is consistent with a general voluntary disclosure framework resulting in a threshold equilibrium. The decision to seek strategic alternatives appears to be prompted by poor performance, poor information environment, and the presence of corporate governance catalysts, namely, blockholders, activists, and golden parachutes.

Corporate Disclosure Strategies Before Business Failure: the Case of Voluntary Disclosure of Sales by Small and Medium-sized Enterprises

Download Corporate Disclosure Strategies Before Business Failure: the Case of Voluntary Disclosure of Sales by Small and Medium-sized Enterprises PDF Online Free

Author : Patricia van de Wiele
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (92 download)

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Book Synopsis Corporate Disclosure Strategies Before Business Failure: the Case of Voluntary Disclosure of Sales by Small and Medium-sized Enterprises by : Patricia van de Wiele

Download or read book Corporate Disclosure Strategies Before Business Failure: the Case of Voluntary Disclosure of Sales by Small and Medium-sized Enterprises written by Patricia van de Wiele and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Evolution of Corporate Disclosure

Author : Alessandro Ghio
Publisher : Springer Nature
ISBN 13 : 3030422992
Total Pages : 183 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis The Evolution of Corporate Disclosure by : Alessandro Ghio

Download or read book The Evolution of Corporate Disclosure written by Alessandro Ghio and published by Springer Nature. This book was released on 2020-04-02 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a critical analysis of the evolution of corporate disclosure. Building upon prior academic literature, it assesses the most important changes in mandatory corporate disclosure, the growing relevance of social and environmental disclosure, and revolutionary new forms of corporate communication, in particular social media. It also includes empirical analyses that shed further light on the impact of voluntary communication, i.e. social and environmental reporting and corporate social media communication, on managerial and investment decisions. Lastly, it discusses new directions for accounting and corporate governance research on the theoretical and empirical challenges of corporate disclosure. Offering a wealth of relevant and timely advice, the book will help regulators design policies that allow businesses to overcome current and emerging economic, social, and technological challenges.

Voluntary Annual Report Disclosure by Listed Dutch Companies, 1945-1983

Author : Kees Camfferman
Publisher : Routledge
ISBN 13 : 1000167658
Total Pages : 397 pages
Book Rating : 4.0/5 (1 download)

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Book Synopsis Voluntary Annual Report Disclosure by Listed Dutch Companies, 1945-1983 by : Kees Camfferman

Download or read book Voluntary Annual Report Disclosure by Listed Dutch Companies, 1945-1983 written by Kees Camfferman and published by Routledge. This book was released on 2020-09-04 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1997, analyses the development of Dutch financial reporting. A process of change in international financial reporting began in the early 1960s, and this book examines the roles of voluntary and legislated improvements on financial information disclosure.

Financial Reporting Discretion and Corporate Voluntary Disclosure

Author : Ron Kasznik
Publisher :
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Financial Reporting Discretion and Corporate Voluntary Disclosure by : Ron Kasznik

Download or read book Financial Reporting Discretion and Corporate Voluntary Disclosure written by Ron Kasznik and published by . This book was released on 1996 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Disclosure and Assurance of Corporate Social Responsibility

Author : Isabel-María García-Sánchez
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1527524434
Total Pages : 252 pages
Book Rating : 4.5/5 (275 download)

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Book Synopsis The Disclosure and Assurance of Corporate Social Responsibility by : Isabel-María García-Sánchez

Download or read book The Disclosure and Assurance of Corporate Social Responsibility written by Isabel-María García-Sánchez and published by Cambridge Scholars Publishing. This book was released on 2019-01-08 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays collected here specifically examine the new trends of sustainability performance and reporting. They provide theoretical argumentation and evidence about sustainability performance, and determinants of its voluntary disclosure and external assurance. The book will interest companies, managers, shareholders, stakeholders and public bodies directly related to sustainability performance, the voluntary disclosure of sustainability information, and the adoption of an external assurance process.

Strategic Accounting Disclosure

Author : Phillip C. Stocken
Publisher : Now Publishers
ISBN 13 : 9781601986924
Total Pages : 0 pages
Book Rating : 4.9/5 (869 download)

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Book Synopsis Strategic Accounting Disclosure by : Phillip C. Stocken

Download or read book Strategic Accounting Disclosure written by Phillip C. Stocken and published by Now Publishers. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reviews the analytic accounting disclosure literature to identify guidelines for disclosing financial information, factors that investors may recognize, and characteristics of useful information that policy-makers and regulators should consider when specifying what information sets firms should disclose

Voluntary Disclosure in Corporate Control Contests--evidence of Management Earnings Forecast Characteristics and Consequences

Author : Jinqiu Yan
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (93 download)

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Book Synopsis Voluntary Disclosure in Corporate Control Contests--evidence of Management Earnings Forecast Characteristics and Consequences by : Jinqiu Yan

Download or read book Voluntary Disclosure in Corporate Control Contests--evidence of Management Earnings Forecast Characteristics and Consequences written by Jinqiu Yan and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation examines how managerial incentives in contested takeovers affect voluntary disclosure strategies. I study characteristics of voluntary disclosure around contested takeovers, based on the conjecture that good news in earnings forecasts serves as a defensive strategy to resist a takeover and/or to negotiate a higher offer price. To gauge the relation of voluntary disclosure on takeover consequences, I examine the association between voluntary disclosure and target premiums as well as the length of time to resolve the acquisition. Using a difference-in-differences research design, I find that relative to friendly targets, target management in contested target firms alters the timing of normal information flows by forecasting more good news during the takeover. Managers also manipulate the content of information by releasing optimistically biased forecasts during the takeover to favorably influence the market. Further investigations indicate that target firms adopt voluntary disclosure and alter strategies at the time of contested takeover as a means to convey favorable inside information. The stock market responds positively to optimistic forecasts issued during the contested takeover. Moreover, voluntary disclosure influences contested takeovers by helping target firms negotiate better offers and postpone the M&A process. As a whole, this study demonstrates that target firms adopt voluntary disclosure and alter their strategies under the threat of contested takeover to reveal their true worth and enhance their bargaining power. Unlike prior literature that documents value-destroying managerial entrenchment resistance, voluntary disclosure by targets with favorable information induces information leakage and is one of the resistance tactics that potentially benefits target shareholders.

Analysis of Voluntary Disclosure Before and After the Establishment of the Integrated Reporting Framework

Author : Nahariah Jaffar
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Analysis of Voluntary Disclosure Before and After the Establishment of the Integrated Reporting Framework by : Nahariah Jaffar

Download or read book Analysis of Voluntary Disclosure Before and After the Establishment of the Integrated Reporting Framework written by Nahariah Jaffar and published by . This book was released on 2019 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: Objective - The goal of integrated reporting is to enhance the cohesiveness and efficiency of corporate reporting. It encourages organizations to create greater value by identifying the factors that have a material impact on its operations. The Integrated Reporting (IR) Framework guides the overall content of an integrated report through the Guiding Principles and Content Elements. The Framework has eight elements. This study explores the level of voluntary disclosure of information related to these eight elements by companies listed on the Bursa Malaysia before and after the establishment of the Framework.Methodology/Technique - This study examines the annual reports of 603 Main Market listed companies of Bursa Malaysia between 2012 and 2015. The year 2012 is referred to as the "pre-issuance period" while 2015 is referred to as the "post issuance period".Findings - The findings of the study show that the companies that do disclose more information, do so in relation to three out of the eight elements only. These are: governance, strategy and resource allocation, and outlook. Overall, there is a lack of lineage among the information related to the IR elements presented in the annual reports.Novelty - The findings demonstrate the need for the full adoption of integrated reporting in Malaysia.

Non-financial Disclosure and Integrated Reporting

Author : Lino Cinquini
Publisher : Springer Nature
ISBN 13 : 3030903559
Total Pages : 477 pages
Book Rating : 4.0/5 (39 download)

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Book Synopsis Non-financial Disclosure and Integrated Reporting by : Lino Cinquini

Download or read book Non-financial Disclosure and Integrated Reporting written by Lino Cinquini and published by Springer Nature. This book was released on 2022-02-18 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasingly crucial role of companies’ non-financial disclosure (NFD) and integrated reporting (IR) has led to a lively debate among academics, practitioners, and regulators on the approaches, framework, contents, principles, and standards that should oversee these forms of reporting. Through several expert contributions, conducted both with qualitative and quantitative methodologies, this book provides an up-to-date portrait of the debate by exploring corporate NFD either in its mandated contents or voluntary information. Contributing authors provide studies that encompass the different lines of NFD, namely non-financial risk reporting, sustainability reporting, and intellectual capital reporting, as well as the integration of financial and non-financial information through IR, the assurance of the NFD and IR through auditing activities, and the role of management and CFOs in NFD and IR.

The Trend towards Corporate Voluntary Disclosures

Author : Reka Goch
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. ...

Proactive Self-disclosure of Threats

Author : Bokyung Kim
Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.:/5 (872 download)

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Book Synopsis Proactive Self-disclosure of Threats by : Bokyung Kim

Download or read book Proactive Self-disclosure of Threats written by Bokyung Kim and published by . This book was released on 2012 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Guided by the public relations literature of stealing thunder and organizational transparency, this study examined the effects of corporations' self-disclosure claims of their issues via Facebook on audience perceptions. The study used a 3 (information disclosure: voluntary vs. responsive vs. obligatory disclosure) x 2 (referral source: presence vs. absence) mixed-subject design experiment with 142 adult participants (mean age = 35.4). The results showed that regardless of one's prior involvement toward a stimuli brand, the voluntary disclosure of a corporate issue led the participants to perceive that company as more transparent and more credible than either the "responsive" disclosure messages or the "obligatory" disclosure. Notwithstanding, the voluntary, self-disclosure condition, when compared to the obligatory condition, was more effective in reducing participants' perceived severity of the particular issue. The results theoretically extend the stealing-thunder literature, in a way that public might view a company's disclosure as either volunteered or forced to respond, given that the responsive and the mandatory disclosure of information were essentially the same in responses. The findings also suggest that an organization may strategically use the voluntary information disclosure with their social media platforms, if the strategy can enhance greater transparency and credibility perceptions toward the organization using that strategy and further, mitigate the severity perceptions toward the threats.

The Oxford Handbook of Corporate Reputation

Author : Michael L. Barnett
Publisher : Oxford University Press, USA
ISBN 13 : 0199596700
Total Pages : 523 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis The Oxford Handbook of Corporate Reputation by : Michael L. Barnett

Download or read book The Oxford Handbook of Corporate Reputation written by Michael L. Barnett and published by Oxford University Press, USA. This book was released on 2012-07-19 with total page 523 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook offers a diverse set of scholarly perspectives on the nature of corporate reputation: what it is, where it comes from, and how it may be managed to create and protect corporate as well as societal value. Written and organized in an accessible way, it assesses the current state of the field and provides guidance for future research.

Corporate Voluntary Disclosure for the Egyptian Stock Market

Author : Mohamed Omran
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659636080
Total Pages : 260 pages
Book Rating : 4.6/5 (36 download)

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Book Synopsis Corporate Voluntary Disclosure for the Egyptian Stock Market by : Mohamed Omran

Download or read book Corporate Voluntary Disclosure for the Egyptian Stock Market written by Mohamed Omran and published by LAP Lambert Academic Publishing. This book was released on 2014-12-16 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: I extend prior corporate disclosure research by examining the association between six international environmental factors and the level of corporate voluntary disclosure practices using 100 Egyptian listed non-financial firms. The results of regression analysis indicate that the level of voluntary disclosures is positively and significantly associated with international socio-political institutions, international accounting standards, and international financial institutions. However, I find no significant association between the level of voluntary disclosures and global competition, the international stock market, and information technology and communication. Of the five control variables that I included in regression models, only the legal form associates significantly with the level of voluntary disclosure practices. The findings further our understanding of accounting practices in a developing country context. The subject organizations can use the findings of the study to improve their accounting disclosure systems. The Capital Market Authority in Egypt also can use the findings of the study to improve accounting disclosure regulations in Egypt.