794,060 research outputs found
An experimental investigation of reputation effects of disclosure in an investment/trust game
This paper Examines experimentally the reputation building role of disclosure in an investment/trust game. It provides experimental evidence in support of sequential equilibrium behavior in a finitely repeated investment/trust game where information asymmetry raises the possibility of voluntary disclosure. I define two regimes, namely disclosure regime and no-disclosure regime and it is only in the disclosure regime that such disclosure of private information is a possibility. I compare investment levels across two regimes and find the startling result that investment is lower in disclosure regime. I find that this lower investment is attributable to the fact that the prior probability with which an investor in the disclosure regime believes that a manager is trustworthy is significantly lower than the prior probability with which an investor in the no-disclosure regime believes that a manager is trustworthy. I introduce a two-stage experimental design to homogenize prior beliefs about managers' trustworthiness and find that after such homogenization, investment is higher in disclosure. © 2013 Elsevier B.V
Turkish transparency and disclosure survey 2007: pace of improvement has slowed
The report summarizes the results of the third phase of public disclosure survey of Turkish companies. The study looks at the disclosure practices of 52 companies which are constituencies of S&P/IFC Global-Turkey and ISE-60, compares it with the previous years' results. The conclusion is that the pace of improvement in the disclosure practices of Turkish companies has slowed down with marginal improvement in the area of financial disclosure and ownership transperancy and moderate improvement in board disclosure
Disclosure and Cross-listing: Evidence from Asia-Pacific Firms
Purpose – The purpose of this paper is to examine whether both country disclosure environment and firm-level disclosures are associated with cross-listing in the USA or London or otherwise.
Design/methodology/approach – The authors test the association using a sample of Asia-Pacific firms covered in the Standard and Poor\u27s, 2001/2002 disclosure survey, capturing the country-level disclosure using the Center for International Financial Analysis and Research (CIFAR) score. The firm-level disclosure is measured using the S&P disclosure score. The authors conduct a logistic regression analysis and a two-stage least squares analysis to examine whether the outcome, cross-listing or not, is associated with the country disclosure environment and firm-level disclosures.
Findings – The authors find that Asia-Pacific firms from weak disclosure environments and having higher firm-level disclosure scores are more likely to seek listing in the USA. Further, the paper provides initial evidence that these Asia-Pacific firms are as likely to seek listing in London as in the USA. No significant difference was found in S&P scores between US and London cross-listings after controlling for the effects of other variables. This suggests that firms that cross-list in London present similar disclosure levels to firms that cross-list in the USA.
Originality/value – The paper\u27s findings contribute to the cross-listing literature on disclosure by showing that the interaction between firm-level disclosure and country-level disclosure has an impact on whether a firm cross-lists in the USA/London or not. The authors\u27 comparison of US cross-listings versus London cross-listings provides the first evidence that disclosures of US and London cross-listings are not significantly different
Capital market pressures and the format of intellectual capital disclosure in intellectual capital intensive firms
Purpose - A number of studies have examined firms’ intellectual capital (IC) disclosure practices. However, the presentation format of IC disclosure (text, numerical and graphs/pictures) is yet to be examined. In addition, there is little evidence on the impact of capital market pressures on IC disclosure. This study aims to examine the relation between presentation format of IC disclosures and three market factors (market-to-book ratio, share price volatility and multiple listing.
Design/methodology/approach - Using content analysis, we examine the level of IC disclosure provided in the annual reports of 100 IC-intensive listed UK firms. A 61-IC-item research instrument is used to measure IC disclosure and regression analysis is employed to examine the relation between disclosure and the market factors, controlling for corporate governance and firm specific variables.
Findings - Text is the most commonly used format for IC disclosure, whilst the use of graphs/pictures is very low. The findings of the relation between market factors and IC disclosure are mixed. Market-to-book ratio is significantly related to disclosure in text and numerical, but not to graphs/pictures. Share price volatility is only associated with graphs/pictures, whilst multiple listing is only related to text.
Originality/value - Our findings suggest that the impact of capital market pressures on IC disclosure might differ with presentation format. In this context, the study makes a significant contribution to the IC disclosure literature
PENGARUH CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE TERHADAP NILAI PERUSAHAAN DENGAN KEPEMILIKAN MANAJEMEN SEBAGAI VARIABEL MODERATING(Studi Empiris Pada Perusahaan High Profile Berbasis Sumber Daya Alam Yang Terdaftar Di BEI)
This reseach has title the influence of Corporate Social Responsibility disclosure to firm value with management ownership as the moderating variable. The reseach purpose to know the influence of Corporate Social Responsibility disclosure to firm value and to know management ownership would be get strong relations Corporate Sosial Responsibility disclosure with firm value. Hipotesis of this reseach though Corporate Social Responsibility disclosure can be influence to firm value and management ownership would be get strong relations between Corporate Social Responsibility disclosure with firm value. Sample of this reseach is the high profile company with natural resources of Bursa Efek Indonesia (BEI) listing in 2008. There are 34 company of 68 population fulfilling criterian by using purposive sampling methode. The methode analysis of this research used multiple regression analysis. The result of study show that nothing influence of Corporate Social Responsibility disclosure to firm value. And management ownership wouldn’t be get strong relations between Corporate Socioal Responsibility disclosure with firm value
The Effects of Private Self-Consciousness and Perspective Taking on Satisfaction in Close Relationships.
131 heterosexual student couples, aged 17–32 yrs, 30 of whom were married or engaged answered questions concerning themselves and their relationships. It was predicted that individual differences in private self-consciousness would be positively related to relationship satisfaction because of the greater self-disclosure resulting from that heightened self-attention. It was further predicted that individual differences in perspective taking would foster relationship satisfaction, independent of any influence of self-disclosure. Both expectations were confirmed. Scores on the private self-consciousness scale were predictive of reported self-disclosure, and self-disclosure was predictive of satisfaction in the relationship. Once the influence of self-disclosure was removed, no effect of self-consciousness on satisfaction remained. In contrast, after disclosure was controlled, perspective-taking scores were significantly related to satisfaction and were in fact unrelated to disclosure at all. Findings indicate that 2 personality characteristics having to do with habitual attention to behavioral tendencies, emotions, and motivations significantly enhance the quality of close heterosexual relationships in different ways
The development and testing of a child-inspired advertising disclosure to alert children to digital and embedded advertising
Via three studies, this article aims to develop and test an advertising disclosure which is understandable for children (ages six to 12 years old) and which can alert them to different types of advertising in multiple media formats. First, cocreation workshops with 24 children (ages eight to 11 years old) were held to determine a selection of disclosure designs based on insights from the target group. Second, two eye-tracking studies among 32 children (ages six to 12 years old) were conducted to test which of these disclosure designs attracted the most attention when the disclosures were integrated into a media context. These studies led to the selection of the final advertising disclosure: a black rectangular graphic with the word Reclame! (i.e., Dutch for "Advertising!") in yellow letters. Finally, a two-by-two, between-subjects experimental study (disclosure design: existing versus child-inspired advertising disclosure; advertising format: brand placement versus online banner advertising) with 157 children (ages 10 and 11 years old) was performed to test the effectiveness of the child-inspired disclosure by comparing it with existing ones. This study not only showed that children recognized, understood, and liked the child-inspired disclosure better than the existing ones, but they were also better able to recognize advertising after exposure to this child-inspired advertising disclosure
Developing a self-report measure to assess disclosure strategies in adult male prisoners and its association with personality
Purpose – The current study aims to report on the development of a self-report measure of disclosure strategies in adult male prisoners (violent and acquisitive offences) and its association with personality and self-esteem.
Design/methodology/approach – The study employed an adapted version of the Delphi technique to develop initial items for inclusion in the new disclosure measure (Disclosure Management Questionnaire: DMQ). This element of the study utilised an “expert sample” of forensic psychologists. A total of 94 prisoners then completed the developed measure. Factor analysis was utilised to explore the structure of the measure, which subsequently allowed associations between disclosure strategies, personality and self-esteem to be identified.
Findings – Analysis revealed a measure of disclosure (the DMQ) comprising four subscales: Exploratory Engagement, Placatory/Evasive Engagement, Passive Resistance and Active Resistance. Significant correlations were identified between the personality trait Neuroticism and higher levels of Placatory/Evasive Engagement and Active Resistance of forensic clients during the disclosure process. Self-esteem was also found to correlate with disclosure, in that high trait self-esteem was found to be associated with higher exploratory engagement, whereas low trait self-esteem was associated with higher levels of active resistance of the disclosure process.
Originality/value – Developing an understanding of the nature and function of disclosure and how these relate to individual factors such as personality (including trait self-esteem) provides valuable knowledge and alternative ways of supporting forensic clients in discussing difficult issues related to their offending
Environmental disclosure practices in national oil and gas corporations and international oil and gas corporations operating in Organization of Arab Petroleum Exporting Countries
This study will examine the differences in environmental disclosure practices between national oil and gas corporations (NOGCs) and International oil and gas corporations (IOGCs) in oil sector in countries Arab petroleum exporting (CAPE). Environmental disclosure is defined as disclose environmental activities identify environmental risks of such activities, and how they are managing these issues. Disclosure shows effects on the environment as a result of accidents that occur in the oil companies. Environmental disclosure refers to how and to what extent firms disseminate information about their environmental activities. This information may be released within the company annual reports, and/or separate sustainability reports. There is a vast amount of research that has been conducted about environmental disclosure, in particularly in developed countries. In contrast to developing countries, there are a few studies undertaken in developing countries. There are also no studies that have examined the difference in disclosure between the developed and developing countries (Ahmad & Gao 2005; Ahmad & Mousa 2011; Al-Tuwaijri, Christensen & Hughes 2004). This study is a comparative study between international and national companies in terms of the quantity of environmental disclosure (QTED) and quality of environmental disclosure (QLED) contained in the annual reports 2008, 2009 and 2010. Content analysis has used in this study by words counts to measure the QTED in the annual reports whereas index environmental disclosure is used to measure the QLED in annual reports. Despite the slight increase in the environmental disclosure practices in national companies, the difference is still significant compared with international companies
Banking Fragility and Disclosure: International Evidence
Motivated by recent public policy debates on the role of market discipline in banking stability, I examine the impact of greater bank disclosure in mitigating the likelihood of systemic banking crisis. In a cross sectional study of banking systems across 49 countries in the 90s, I find that banking crises are less likely in countries with financial reporting regimes characterized by (i) comprehensive disclosure (ii) informative disclosure, (iii) timely disclosure and (iv) more stringent auditing.http://deepblue.lib.umich.edu/bitstream/2027.42/40134/3/wp748.pd
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