Download or read book Company Disclosure in Australia written by Gillan North and published by . This book was released on 2012-12-21 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides readers with a detailed outline of listed company disclosure law and practice in Australia. It highlights the need for broad, well-informed debate and makes a case for review and reform of the company disclosure framework on a comprehensive basis. As most of Australia’s national savings are encompassed within the compulsory superannuation scheme and a large portion of the savings pool invested in Australian corporate securities, nearly every Australian has a stake in listed Australian companies. An effective corporate disclosure framework is therefore vital. This work focuses on periodic and continuous disclosure regulation and practice, because all listed companies are subject to these rules and most public corporate information is provided under these regimes. Regulation prohibiting insider trading, selective disclosure, and misleading or deceptive conduct is also discussed and critiqued, as these rules support the periodic and continuous disclosure regimes.

Download or read book Disclosure by Australian Companies written by Robert William Gibson and published by Melbourne University. This book was released on 1971 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Evolution of Corporate Disclosure written by Alessandro Ghio and published by Springer. This book was released on 2021-04-03 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.

Download or read book Effective Company Disclosure in the Digital Age written by Gill North and published by Kluwer Law International B.V.. This book was released on 2015-10-16 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Effective corporate reporting and disclosure are critical in financial markets to promote vigorous competition, optimal performance, and transparency. This book examines whether existing disclosure frameworks in eight countries with the world's most significant securities exchanges achieve these objectives, and then, drawing on extensive empirical findings, identifies the policies and practices that contribute most to improving the overall quality of listed company reporting and communication. Contending that public disclosure of listed company information is an essential precondition to the long-term efficient operation of financial markets, the book provides analysis of such issues and topics as the following: - arguments for and against mandatory disclosure regimes; - key principles of periodic and continuous disclosure regulation; - tensions between direct and indirect investment in financial markets; - assumptions concerning the need to maintain a privileged role for financial intermediaries; - intermediary, analyst, and research incentives; - protection of individual investors; - selective disclosure; - disclosure of bad news; - the role of accounting standards; - public access to company briefings; - long term performance reporting and analysis; and - company reporting developments. A significant portion of the book provides an overview of disclosure regulation and practice in the United States, Canada, Germany, the United Kingdom, Japan, Hong Kong, Australia, and Singapore. A highly informative survey looks at company reports, disclosures, and websites of large listed companies, including Microsoft, Citigroup, Teck Resources, Deutsche Bank, BP, Sony, PetroChina Company, BHP Billiton, and Singapore Telecommunications. The book discusses common disclosure issues that arise across jurisdictions, provides valuable insights on the efficacy of existing disclosure regulation and practice, and highlights the important principles, processes, and practices that underpin best practice company disclosure frameworks. It will be welcomed by company boards and executives and their counsel, as well as by policymakers and scholars in the areas of corporate, securities, banking and financial law, accounting, economics and finance.

Download or read book The Continuous Disclosure Obligations in Australia written by Gill North and published by . This book was released on 2016 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Australian Securities Exchange has recently amended Guidance Note 8 to Listing Rule 3.1 to provide greater clarity around the continuous disclosure obligations. This article argues that the requirements to update the market on changes in trading conditions and associated changes to expected earnings are unduly ambiguous and that persons relying on publicly disclosed company information may struggle to make confident informed decisions. The move from objective earnings variations to opaque and transient private measures as the basis for determining disclosure of earnings related news is viewed as a retrograde step that does not accord with international best practice. These amendments are expected to weaken the corporate disclosure regime, discourage the provision of public guidance by listed companies, and raise the bar for those involved with supervision and enforcement of company disclosure matters.

Download or read book Continuous Disclosure of Chinese Cross Border Listed Companies in Australia written by Belle Qi Guo and published by Springer Nature. This book was released on 2023-11-05 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies an overarching question of the challenges faced by Chinese lawmakers, Chinese listed companies, Chinese companies’ external advisers, and securities regulators in dealing with Chinese cross-border listed companies’ continuous disclosure in Australia, and how can these challenges be addressed. Chinese listed companies are struggling to meet the continuous disclosure requirements while listing in Australia and have even been depicted as having poor corporate governance and transparency. Many get delisted from the securities market in Australia subsequently due to non-compliance in continuous disclosure or are straight rejected from listing because of continuous disclosure compliance concerns. This book cuts in from this angle and delves deep into the overarching question through the following four sub-questions: What are the theories and policies behind the continuous disclosure regimes in Australia and China and how have they been differently implemented in the securities markets in these two countries? What are the deficiencies, at the intracompany level, contributing to Chinese cross-border listed companies’ non-compliant continuous disclosure in Australia? What are the limitations, from the perspective of external advisers’ efforts, contributing to Chinese cross-border listed companies’ non-compliant continuous disclosure in Australia? What are the difficulties, at the regulatory level, contributing to Chinese cross-border listed companies’ non-compliant continuous disclosure in Australia? In addressing these questions and putting forward corresponding reform proposals, this book takes not only legal but also historical, cultural, and political-economic factors into consideration.

Download or read book The Evolution of Consolidated Financial Reporting in Australia written by Greg Whittred and published by Routledge. This book was released on 2020-09-04 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1988, aims to provide evidence on the voluntary adoption of a particular type of financial statement – the consolidated financial statement – in what may be characterized as relatively high agency cost situations. This study examines an accounting method choice not under the assumption that it will be made opportunistically but under the assumption that it will be negotiated ex ante as part of the firm’s optimal contract structure.

Download or read book Measuring Effectiveness of Continuous Disclosure Policy written by Sidharth Budhiraja and published by Lambert Academic Publishing . This book was released on 2016-09-20 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most of investors are concerned about the return they will receive by investing in the company, especially after the global financial crises during which most of the investors earned negative returns on their investments. The return on investment tells us about the performance of the company in comparison to its competitors. This enables the managers, shareholders and potential investors to make informed decision based on the manager capacity to efficiently utilize financial resources of the company. Moreover, the return on investment also affects the future viability of the company. If a company is not able to generate enough returns from their investments in different projects, then it can be a threat to company‘s existence as it will not be in a position to sustain its operations due to mounting losses and debts. In this book, I examine the assessment of the market of the comparative profitability of all the announcements made in the field of R&D, Information Technology and Capital Expenditure by Australian listed firms over the period of 1990 to 2012.

Download or read book Continuous Disclosure for Australian Listed Companies written by Josephine Margaret Coffey and published by . This book was released on 2002 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Theoretical Basis for Selective Disclosure Regulation written by Gill North and published by . This book was released on 2014 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Corporations and Markets Advisory Committee ('CAMAC') in Australia is currently considering aspects of market integrity, including issues relating to closed or private corporate briefings to analysts. Senator Nick Sherry, the Minister for Superannuation and Corporate Law, has asked the Committee to:-examine the role that analysts' briefings play in Australia's financial markets, including whether their role is a positive one that leads to greater market efficiency;-advise whether changes may be required to Australia's regulatory framework and, if so, what form they should take.The author discusses corporate briefings and argues for policy change, including open access, in another forum. This article concerns the related debates on the role of analysts and regulation prohibiting selective disclosure. Selective disclosure is the disclosure of information by companies to selected investors, such as analysts, without disclosure to the wider public. There is no specific selective disclosure regulation in Australia. Company disclosures to analysts or other investors are only prohibited to the extent that they breach continuous disclosure or insider trading regulation.

Download or read book Continuous Disclosure in Australia written by Gill North and published by . This book was released on 2014 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The continuous disclosure regime is said to be at the heart of the company disclosure framework in Australia because it provides equal and timely access to material company information. The primary continuous disclosure obligation applying to listed Australian companies is ASX Listing Rule 3.1. The article outlines an empirical study that examined compliance with Listing Rule 3.1 using Guidance Note 8 on disclosure of expected earnings as a benchmark. The study found compliance with the guidance was poor. The proportion of companies with significant earnings changes that provided an earnings forecast was low, and there were no statistically significant associations between the provision of forecasts and the absolute changes in year-on-year earnings. The article concludes that continuous disclosure is a vital part of the Australian company disclosure framework. However, the current obligations require strengthening and the inherent limitations of the regime need to be acknowledged.

Download or read book The Transparent Corporation written by David Uren and published by Allen & Unwin. This book was released on 2003-06-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulators are demanding that companies bare their souls before the public. They have stripped back the veils of confidentiality surrounding company finances, executive remuneration and business strategy. Today, if a company becomes aware of information that may influence its share price, it must tell the market immediately. The management of disclosure is causing problems for directors, managers and investors. What impact will disclosure have on your share price? How do you stop information from leaking, and what should you do when it does? What information can you give to individual analysts or investors? How do you meet the guidelines without giving too much away to the competition? How should companies respond to new demands for disclosure of environmental and social impacts? Drawing insights from leading business, investment and legal thinkers, The Transparent Corporation shows how new disclosure requirements are impacting on the management of corporations and the world of share trading. David Uren traces how the demand for disclosure has developed and shows where it is heading. He provides guidelines for managing disclosure so that investors and other stakeholders are kept informed, while regulators and lawyers are held at bay.

Download or read book ASIC s Forward Agenda The Australian Corporate Regulator s Approach to Timely Disclosure by Listed Companies written by Josephine Coffey and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The initial phrase of the title for this paper was borrowed from a speech delivered by Tony D'Aloisio, Chairman, Australian Securities and Investments Commission (ASIC), in September 2010. The Chairman stated The first point I will make about ASIC's forward agenda for the next couple of years is that, for the most part, we will continue to do what we have been doing because it has been working well. ASIC is a regulatory oversight body and not a guarantor against risk and corporate failure. The regulator's objective is to exercise its powers to improve the performance of the financial system and the entities within the system in the interests of commercial certainty and development of the economy. An important role is to efficiently process the information it receives under its powers and to promote informed participation by investors in the financial system. On 15 July 2011, Australia will mark the tenth anniversary of the Corporations Act 2001 (Cth) and the formation of ASIC under companion legislation. Reflecting the theme of the conference, this paper will review the regulator's 'past experience' in enforcing timely (or continuous) corporate disclosure and, more particularly, the contribution of this experience to the regulator's 'forward agenda'? The Chairman acknowledges that ASIC has given 'much thought to how the Australian market might evolve'. In the past year that evolution has witnessed the transfer of supervisory responsibilities for licensed equity and derivatives markets from the Australian Securities Exchange (ASX) to ASIC; the introduction of 'market integrity' rules directed at insider trading and market manipulation; potential Government support for competitive market trading of listed shares in Australia, and even the merger of ASX with another stock exchange. All of these issues can affect corporate disclosure. ASIC is also a party to continuous disclosure issues that are currently before the courts with the ongoing James Hardie and Fortescue cases. Consistent with the theme of the conference, the paper will endeavour to deduce the regulator's present position on continuous disclosure and ASIC's future agenda for enforcing the timely disclosure of material information by listed companies.

Download or read book Corporations Law in Australia written by Roman Tomasic and published by Federation Press. This book was released on 2002 with total page 964 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this text incorporates the latest changes to Australian corporations law, up to and including the Corporations Act 2001 and the Financial Services Reform Act 2001. Like the 1st edition, this text is written particularly for undergraduate law students. The book introduces students to Australian corporate law in a way that is informed by theory and policy. Throughout the book the authors draw upon materials from fields such as economics, sociology and politics to provide a contextually relevant account of modern corporate law. Ample references and pointers are provided to policy debates, contemporary issues, and to further reading. The authors bring considerable experience in interdisciplinary corporate law teaching and research. The authors aim to stimulate the reader into further critical analysis of corporate law issues, and to equip them with the capacity to respond in an informed way to future changes and developments. The book also encourages the reader to independently pursue further research in areas of corporate law. Each of the 25 chapters has been revised and updated. The book deals with: Introduction - the history of corporate law, and key themes and perspectives. Corporate Structures and Regulation - including the structure of Australian corporate law; ASIC's role and powers; and the role of auditors. Corporate Obligations - including corporate capacity; contractual and criminal liability. Corporate Governance - membership and meetings; directors' duties; shareholders' rights. Corporate Finance - including share and debt capital, the Managed Investments Act 1998, and fundraising. Securities and Takeovers Corporate Rescues and Winding Up

Download or read book Standards of Disclosure in Published Reports of Australian Public Companies written by Robert William Gibson and published by . This book was released on 1967 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Australia Financial Sector Assessment Program Technical Note Investor Protection Disclosure and Financial Literacy written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-12-12 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic. Shareholder activism is an important element of corporate governance because it promotes compliance and implementation of disclosure and corporate governance obligations. The legislative and regulatory framework in Australia includes disclosure requirements that meet or exceed the requirements that exist in many other countries. Disclosure and transparency are key components of the OECD Principles of Corporate Governance.

Download or read book Understanding Australian Accounting Standards written by Janice Loftus and published by . This book was released on 2012-11-12 with total page 1104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding Australian Accounting Standards reflects the reporting and disclosure requirements under a number of Australian Accounting Standards, providing detailed illustration on how publicly listed companies report in accordance with Australian Accounting Standards. This textbook offers students a comprehensive and well written introduction to the scope and financial reporting disclosures of Australian accounting standards issued by the Australian Accounting Standards Board. The text incorporates extracts from the 2011 annual report of Billabong International, as well as media articles profiling its recent corporate events, in all chapters to illustrate how a corporate entity measures, recognises, reports and discloses financial information required under Australian accounting standards. The integration of the Billabong International annual report will enable students to look beyond the numbers to develop interpretative and critical evaluation skills of accounting information. The integration of the Billabong 2011 annual report, with its disclosure notes, will provide students with a deep understanding of the financial reporting and business activity associated with the financial performance of a well-known company.