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Autor
Xia Belle Selene (University of Helsinki, Finland)
Tytuł
Strategic Implications of Voluntary Disclosure and the Application of the Legitimacy Theory
Źródło
Przedsiębiorczość Międzynarodowa, 2015, vol. 1, nr 2, s. 109-120, tab., bibliogr. 36 poz.
Tytuł własny numeru
International Business and Global Economy
Słowa kluczowe
Asymetria informacji, Prawomocność, Ład korporacyjny, Teoria agencji
Information asymmetry, Legitimacy, Corporate governance, Agency theory
Uwagi
summ.
Abstrakt
A broad and in-depth review of voluntary disclosure, as the consequential reflection of corporate governance, provides alternative explanations for some the research results discussed in the traditional literature. With regard to the implications of the information asymmetry and the agency theory on voluntary disclosure, we see that the correlation of such is not absolute. In this paper, our understanding in the subject matter is deepened, as we evaluate the various dimensions of corporate disclosure both from a theoretical and an empirical point of view. We discuss the strategic effects as well as the incentives behind corporate disclosure while mirroring the disclosure theory to the legitimacy theory in real life business settings. As we discuss the potential conflicts and drawbacks that researchers and practitioners may have encountered in their previous research, we have discovered that many fundamental research questions related to voluntary disclosure have, in fact, remain unanswered as a result of mixed interpretations. Finally, we propose directions for future research, and subsequently open new research arena to be tested by further research. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Pełny tekst
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Bibliografia
Pokaż
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  8. Darrough M.N., & Stoughton N.M. (1990). Financial Disclosure Policy in an Entry Game. Journal of Accounting and Economics. 12(1), 219-243.
  9. Dechow P., Hutton A., & Sloan R. (2000). The Relation between Analysts' Forecasts of Long-term Earnings Growth and Stock Price Performance Following Equity Offerings. Contemporary Accounting Research. 17 (1), 1-32.
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  14. Fishman M.J., & Hagerty K.M. (2003). Mandatory versus Voluntary Disclosure in Markets with Informed and Uninformed Customers. Journal of Law, Economics and Organization. 19(1), 45-63.
  15. O'Donovan G. (2002). Environmental Disclosures in the Annual Report: Extending the Applicability and Predictive Power of Legitimacy Theory. Accounting, Auditing & Accountability Journal. 15(3), 344-371.
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  17. Healy P.M., & Palepu K.G. (2001). Information Asymmetry, Corporate Disclosure, and the Capital Markets: A Review of the Empirical Disclosure Literature. Journal of Accounting and Economics. 31(1), 405-440.
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  21. Hughes J.S., & Pae S. (2004). Voluntary Disclosure of Precision Information. Journal of Accounting and Economics. 37(2), 261-289.
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  23. Korn E., & Schiller U. (2003). Voluntary Disclosure of Nonproprietary Information: A Complete Equilibrium Characterization. Journal of Business Finance & Accounting. 30(9), 1327-1339.
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  30. Patten D.M. (2002). The Relation Between Environmental Performance and Environmental Disclosure: A Research Note. Accounting, Organizations and Society. 27(8), 763-773.
  31. Penno M.C. (1997). Information Quality and Voluntary Disclosure. The Accounting Review. 72(2), 275-284.
  32. Prencipe A. (2004). Proprietary Costs and Determinants of Voluntary Segment Disclosure: Evidence from Italian Listed Companies. European Accounting Review. 13(2), 319-340.
  33. Raffournier B. (1995). The Determinants of Voluntary Financial Disclosure by Swiss Listed Companies. European Accounting Review. 4(2), 261-280.
  34. Simon S.M.H., & Wong K.S. (2001). A Study of the Relationship between Corporate Governance Structures and the Extent of Voluntary Disclosures. Journal of International Accounting, Auditing and Taxation. 10(2), 139-156.
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Cytowane przez
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ISSN
2543-537X
Język
eng
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