Download or read book Disclosure and Compliance Practices and Associated Corporate Characteristics written by Meha Kohli and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The present study empirically investigates the level of compliance by listed Indian firms with disclosure requirements of Indian Accounting Standards. India0́9s Accounting Standards have been gradually converging with the International Financial Reporting Standards (IFRS) since 2001. India currently stands on the verge of adopting the International standards. Indian companies are working fervently towards adopting IFRS. This provides an extraordinary research environment to assess the level of compliance during this transitional time as well as lending an opportunity for a post adoption study. This study addresses two research questions developed to review annual reports of 156 listed Indian firms to determine (1) their current level of compliance with selected disclosure requirements of Indian Accounting Standards, and (2) key corporate characteristics that affect their level of compliance. The data used for the study pertains to the financial year 2009-2010 and utilizes disclosure and compliance index methodology to calculate the level of disclosure. Overall, the findings of this study indicate none of the companies in the sample was fully compliant with the mandatory requirements of the Indian Accounting Standards. On average, level of disclosure made by Indian companies based on selected mandatory disclosures is 70.91%. Nevertheless, the disclosure levels were on an average comparable to results from similar studies conducted in other developing countries. Moreover, results indicated a strong and positive association between level of disclosure and the size, profitability and timeliness of reporting of the sample companies.

Download or read book Corporate Compliance with Non Mandatory Statements of Best Practice written by Musa Mangena and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper contributes to our understanding of compliance with non-mandatory statements of best practice. Specifically, we examine the efficacy of agency-related mechanisms on the degree of disclosure compliance with the ASB Statement on interim reports. Using data drawn from a sample of 259 U.K. companies listed on the London Stock Exchange, we show that although overall disclosure compliance is high (74.5% of the items of information being disclosed), companies do not fully comply with the ASB Statement on interim reports. We employ ordinary least square (OLS) regression model to establish whether selected company-specific and corporate governance characteristics (proxying for agency-related mechanisms) are related to the degree of disclosure compliance. Our results indicate that multiple listing, company size, interim dividend and new share issuance are positively associated with the degree of compliance. We also find that the degree of disclosure compliance is positively associated with auditor involvement, audit committee independence and audit committee financial expertise. These results have important implications for policy because they suggest that whilst agency-related mechanisms may motivate compliance with best practice non-mandatory statements, full compliance may be unattainable without regulations.

Download or read book Corporate Governance and IFRS in the Middle East written by Muath Abdelqader and published by Taylor & Francis. This book was released on 2022-12-14 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid globalization of capital markets has increased attention toward examining the quality of the disclosure practices implemented by companies, as internationalization and globalization are the most important motives of the harmonization of financial statements preparation and presentation. Given the expansion of trade and the openness to foreign capital markets, investment decisions became not limited only for local users, but also international users may need to access the financial information. The issuance of International Financial Reporting Standards (IFRS) to be used throughout the world aims to improve the comparability and understandability of financial statements, and hence, to enhance investment decisions through helping investors across the borders to invest in multinational companies. Although fluid and under-developed institutional arrangements remain central features of emerging markets, ensuring effective corporate governance mechanisms would indeed support companies in complying with IFRS – the latter imposes a challenge for companies operating in emerging markets. This book evaluates the differences in the level of compliance with IFRS across the GCC states, exploring the impact of corporate governance on the level of compliance with IFRS and presenting an empirical analysis of companies across the GCC. It makes an important contribution by providing a detailed empirical analysis of the interplay between corporate governance and IFRS in emerging market setting and highlights the way for future research. It will provide international business, management, and accounting and finance students and senior practitioners with a completely new and updated guide to the work in the field of corporate governance and IFRS compliance in emerging markets.

Download or read book The Effect of Firm and Country Characteristics on Mandatory Disclosure Compliance written by Sónia Lucas and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Our study investigates the role of firm and country characteristics in determining the level of compliance with mandatory disclosure requirements. We also examine whether the role of firm characteristics hold across different country environments. Our empirical study relies on European Union listed firms included on the STOXX Europe 600 Index and on their level of compliance with IFRS 3, Business Combinations disclosure requirements. Our results demonstrate that both firm and country characteristics develop a significant task in explaining the level of compliance with mandatory disclosure requirements. They confirm that firms located in a common-law country have the strongest, and firms located in a French-civil-law country the weakest, level of compliance with IFRS 3 disclosure requirements, with firms located in a Scandinavian- and German-civil-law country placed in the middle. Our findings also suggest that return on assets is the main determinant of the level of compliance with IFRS 3 disclosure requirements in the group of common-law plus Scandinavian- and German-civil-law countries, while leverage is the main determinant in the group of French-civil-law countries.

Download or read book Financial Instruments Disclosure Practices written by Syaima' binti Adznan and published by . This book was released on 2014 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current changes in business settings have directed companies to conduct business at international level, which requires the use of financial instruments. The mandatory MFRS 7, an-equivalent to the IFRS 7 standard shall be applied for annual financial periods beginning or after 1 Jan 2012. It caters for entities to disclose their involvement with financial instruments. Thus, the aim of this study is to investigate the financial instruments disclosure (FID) practices of Malaysian listed companies; specifically, their level of compliance with MFRS 7. The mean score for FID is 80.76%, which indicates that, in general, companies have complied with MFRS 7, although there are several requirements omitted by some companies. Furthermore, in light of the revision of MCCG in 2012, this study examines the association of corporate governance mechanisms with the extent of FID among companies. The corporate governance characteristics used in this study are board expertise, audit committee independence, audit fee, external and internal audit functions. This study applied the agency theory and formulated five hypotheses to test the extent of the relationship between FID and corporate governance characteristics. Based on a total sample of 319 Malaysian public listed companies for financial year end 2012, the analysis revealed that FID is significantly and positively associated with audit committee independence and external audit functions, while internal audit is negatively associated. The results suggest that audit committee members need to be independent to discharge their duties effectively; in addition, there should be an internal audit function that is independent, reliable and functioning in a timely manner. This is crucial in order to strengthen the role of the auditing function within the firm. Moreover, the results attest that, Big Four audit firms are more likely to ensure high compliance with applicable accounting standards compared to non-Big Four, as they are internationally recognised, and have more resources and expertise. Apart from contributing to the literature on financial reporting and corporate governance, this study may serve as a valuable input for regulators and standard setters to encourage strict enforcement of the incorporation of effective corporate governance practices in Malaysian listed companies, as this is likely to have some influence on the level of compliance with MFRS.

Download or read book The Voluntary Disclosure of Accounting Ratios written by Anna Elizabeth Watson and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The impact of non financial company characteristics on mandatory disclosure compliance in developing countries written by Kamran Ahmed and published by . This book was released on 1994 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Reporting in India written by Claire Marston and published by Psychology Press. This book was released on 1986 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The adequacy of IFRS 7 within the European electricity industry written by Alfred Mully and published by GRIN Verlag. This book was released on 2014-01-21 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, University of Amsterdam, course: Bachelor of Science in Accounting & Control, language: English, abstract: This paper investigates the adequacy of IFRS 7 by measuring companies’ compliance and extent of disclosure. Adequacy is defined as: to what extent does the standard achieves its objective, which is, to require entities to disclose certain information associated with the use of financial instruments. For this purpose, the annual reports of 21 European electricity companies with fiscal years ending December 31, 2007 have been examined. The author constructed an unweighted disclosure index of 103 items, based on the IFRS 7 requirements, for quantifying the extent of disclosure. The results suggest that the sample companies varied in disclosure levels. Certain required disclosures were sometimes not provided. For instance, the majority of the sample companies provided quantitative disclosures of market risk; however the market risk measurement models are insufficiently explained. The limitations inherent to the models used were usually not discussed. Further, the results show that electricity companies were not keen on providing additional disclosures. This study also seeks to find associations between the extent of disclosure and some corporate characteristics of which statistical relationships were found in prior literature, such as corporate size, listing status, profitability, leverage and auditor size. However, this ended up without any significant findings. This is likely due to the sample size which is inappropriate for statistical testing. Finally, the paper concludes that the shortcomings in disclosure call for regulation. It is expected that, if no regulation were in place, little would be disclosed with respect to risk associated with the use of financial instruments.

Download or read book Associations between corporate characteristics and disclosure levels in annual reports written by Kamran Ahmed and published by . This book was released on 1999 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Relationship Between Company Characteristics and the Extent of Compliance with International Financial Reporting Standards in the Annual Reports of Listed Egyptian Companies written by Khaled Samaha and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to examine various determinants of compliance with IASs using a significantly larger and more random representative sample of 281 Egyptian listed annual reports. The analysis is extensive, including the use of relative total and partial indices. The multivariate analysis of the impact of micro level firm-specific determinants supports the proposition that these firms' compliance is responsive to specific attributes of their environment. However, professionalism as measured by the type of auditor (proxy for agency and signalling theories), internal corporate governance factor as measured by ownership concentration (proxy for agency theory) and structure as measured by market capitalization (proxy for agency theory) dominate with respect to the overall explanatory power for variations in compliance levels with IASs disclosure and measurement/presentation practices (mandatory and voluntary). Although, the findings are consistent with the predictions of capital need theory (as measured by internationality and share trading), political process theory (as measured by size and internationality) and signalling theory (as measured by type of auditor and market capitalization), however, the effect of these three theories is not clear, as the analysis point that lack of profitability, liquidity and leverage of the firm do not seem to affect the extent of its compliance with EASs (this limits the support for signalling theory and political costs), and the performance of manufacturing are at par with non-manufacturing firms as far as the extent of the compliance is concerned (this limits the support for political process and signalling theories). Also the performance of private sector firms is at par with public sector firms as far as the extent of the compliance is concerned (this limits the support for capital need theory). This may indirectly imply that the positive accounting perspective may not be entirely applicable for de facto compliance in Egypt. Hence, it cannot be entirely inferred that listed Egyptian companies may use de facto compliance with IASs as a mean of raising capital, reducing political costs or signal to the market that they are high quality firms.

Download or read book Corporate Governance Regimes written by Joseph McCahery and published by Oxford University Press, USA. This book was released on 2002 with total page 728 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides an up-to-the-minute survey of the field of corporate governance, focusing particularly on issues of convergence and diversity. A number of topics are discussed including bankruptcy procedures, initial public offerings, the role of large stakes, comparative corporate governance, and institutional investors.

Download or read book Corporate Disclosure Concepts And Practices written by Pankaj M. Madhani and published by . This book was released on 2008-08-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: As financial reporting and disclosure are potentially important means for management to communicate firm s performance and value to outside investors, increased disclosure practices will help in reducing information gap between firm and its stakeholders.

Download or read book An Investigation of Disclosure Practices of Private Firms written by Jannet Margaret Vreeland and published by . This book was released on 19?? with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Social and Environmental Disclosure and Corporate Characteristics written by Rob H. Gray and published by . This book was released on 1999 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Antecedents of Voluntary Corporate Governance Disclosure written by Mohamed Elmagrhi and published by . This book was released on 2016 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: This study investigates the level of compliance with, and disclosure of, good corporate governance (CG) practices among UK publicly listed firms, and consequently ascertains whether board characteristics and ownership structure variables can explain observable differences in the extent of voluntary CG compliance and disclosure practices.Design/Methodology/Approach: The study uses one of the largest datasets to-date on compliance and disclosure of CG practices from 2008 to 2013 containing 120 CG provisions drawn from the 2010 UK Combined Code relating to 100 UK listed firms to conduct multiple regression analyses of the determinants of voluntary CG disclosures. A number of additional estimations, including two stage least squares, fixed-effects and lagged structures, are conducted in order to test the robustness of the findings. Findings: The results suggest that there is a substantial variation in the levels of compliance with, and disclosure of, good CG practices among the sampled UK firms. We also find that firms with larger board size, more independent outside directors and greater director diversity tend to disclose more CG information voluntarily, whereas the level of voluntary CG compliance and disclosure is insignificantly related to the existence of a separate CG committee and institutional ownership. Additionally, the results indicate that block ownership and managerial ownership impact negatively on voluntary CG compliance and disclosure practices. The findings are fairly robust across a number of econometric models that sufficiently address various endogeneity problems and alternative CG indices. Overall, the findings are generally consistent with the predictions of neo-institutional theory.Originality/Value: This paper extends, as well as contributes to the extant CG literature by offering new evidence on compliance with, and disclosure of, good CG recommendations contained in the 2010 UK Combined Code following the 2007/08 global financial crisis. This paper also advances the existing literature by offering new insights from a neo-institutional theoretical perspective of the impact of board and ownership mechanisms on voluntary CG compliance and disclosure practices.

Download or read book Corporate Boards Shareholding Structures and Voluntary Disclosure in Emerging MENA Economies written by Ahmed Sarhan and published by . This book was released on 2018 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Purpose: This paper investigates the level of voluntary compliance with, and disclosure of, corporate governance best practices, and the extent to which board characteristics and shareholding structures can explain discernible differences in the level of voluntary corporate governance disclosure in a number of emerging Middle Eastern and North African (MENA) economies. Design/methodology/approach: The paper uses a number of multivariate regression methods, namely ordinary least squares, weighted, non-linear, lagged-effects, two stage least squares and fixed-effects regression techniques to analyse data collected for a sample of listed corporations in emerging MENA economies from 2009 to 2014. Findings: First, in general, MENA listed firms have a relatively lower level of voluntary compliance with, and disclosure of, corporate governance practices compared to listed firms in developed countries. Second, our evidence suggests that corporate board characteristics, including board diversity and audit firm size have a positive association with the level of voluntary corporate governance disclosure. In contrast, the findings indicate that unitary board leadership structure, director shareholdings, and government shareholdings impact negatively on the level of voluntary corporate governance disclosure. The study does not, however, find any evidence to suggest that board size and family shareholdings have any significant relationship with the level of voluntary corporate governance disclosure. The findings are generally robust to alternative measures and potential endogeneity problems. Originality/value: This is one of the first empirical efforts at investigating the association between corporate governance mechanisms and voluntary disclosure in emerging MENA economies that observably relies on a multi-theoretical framework within a longitudinal cross-country research setting.