The determinants of web-based investor relations activities by companies operating in emerging economies : the case of Jordan

Peer reviewedPublisher PD

Disclosure measurement in the empirical accounting literature: A review article

This is the first study to provide an extensive and critical review of different techniques used in the empirical accounting literature to measure disclosure. The purpose is to help future researchers to identify exemplars and to select suitable techniques or to develop their own techniques. It also provides in depth discussion of current measurement issues related to disclosure and identifies gaps in the current literature which future research may aim to cover

VOLUNTARY DISCLOSURE AND PERFORMANCE IN TIME OF ECONOMIC INSTABILITY. THE CASE STUDY OF TURISM FELIX COMPANY

In the last few decades, the problem of voluntary disclosure of financial or non-financial information has been, in the attention of specialists, given the fact that information assimetry, as explained by the agency theory, has become an important factor for the actors of financial markets. High quality financial reports consistent with the IAS/IFRS, issued at regular intervals, have the role of offering data for in-depth financial analisys that can be the basis for decisions regarding stock market investments. The performance of company, estimated by using the EVA, MVA, VA indicators, are directly linked with the average cost of capital, which in turn is sensitive to the evolutions of the stock market, measured both by the level of the asset attached to the entity and of the level of financial market. The impact of voluntary disclosure on company’s performance in our paper has been studied on TUFE company listed on the Bucharest Stock Exchange, confirming a refined degree of predictability.voluntary disclosure, performance, cost of capital, EVA, TURISM FELIX

INFLUENCE OF FAMILY OWNERSHIP, BOARD AND TOP MANAGEMENT CHARACTERISTICS ON THE QUALITY OF WEBSITE CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE IN INDONESIA

Background and Purpose: This study aims to investigate the effect of family ownership, board characteristics (board foreign experience and board accounting expertise), and top management characteristics (management education level) on the quality of website Corporate Social Responsibility (CSR) disclosure via corporate website among the top companies listed in the Indonesia Stock Exchange (IDX). This study adds to the body of literature by examining the moderating effect of family ownership towards the relationship between board characteristics and website CSR disclosure, which is useful for investors who might have concerns on the level of CSR disclosure as a gauge of firm ethics, particularly in respect to family-owned firms.   Methodology: Sample of this study consisted of 100 non-financial companies listed in Indonesia Stock Exchange (IDX) for the year of 2019. To test the study’s hypothesis, multiple linear regression analysis was applied.   Findings: Empirical results from this study have shown that family ownership is negatively related to the quality of website CSR disclosure. Board foreign experience has a positive effect on CSR disclosure practices in their respective corporate websites. Meanwhile, top management education level was found to have a negative and statistically significant relationship with the quality of voluntary website CSR disclosure. Lastly, this study demonstrated that family ownership moderates the relationship between board accounting expertise and the quality of CSR disclosure on corporate websites.   Contributions: This study contributes to the literature on CSR disclosure by introducing a set of index measuring the quality of voluntary website CSR disclosure, which captures not only the variety, but also the richness of CSR information. The moderating role of family ownership on such relationships, which is rarely investigated in the context of developing countries, was also explored by this study.   Keywords: CSR disclosure, voluntary disclosure, family ownership, board characteristics, top management.   Cite as: Melati, I., Arshad, R., Ahmad Nadzri, F. A., Nair, R., & Hermawan, A. A. (2023). Influence of family ownership, board and top management characteristics on the quality of website corporate social responsibility disclosure in Indonesia. Journal of Nusantara Studies, 8(TI), 351-381. http://dx.doi.org/10.24200/jonus.vol8issTIpp351-38

An empirical study of the impact of internet financial reporting on stock prices

This study examines the economic consequences of internet financial reporting (IFR) in Taiwan. The results show that the stock prices of IFR firms change more quickly than those of the non-FR firms using Akaike’s (1969) Final Prediction Error (FPE) methodology. Second, the results from the event study methodology show that the cumulative abnormal returns of the firms with IFR are significantly higher than those of the firms without IFR. Lastly, the results indicate that firms with a higher degree of information transparency yield a higher abnormal return on theirstock prices

Key determinants of the voluntary adoption of corporate internet reporting and its consequence on firm value : evidence from Egypt

Corporate Internet reporting represents one of the voluntary types which helps to achieve transparency by disseminating various types of timely information by using different presentation types and easily accessible tools. Corporate governance has become one of the most crucial issues in recent years due to the consequent scandals that have happened either in developed or developing countries. Therefore, most stakeholders demand greater transparency within the disclosed information provided by various companies. Consequently, the current study aims to contribute to the disclosure literature by examining the association between corporate Internet reporting and its main components, and corporate governance and ownership structure variables in one of the developing countries, namely Egypt, based on a comprehensive theoretical framework and explore the economic consequences of corporate Internet reporting and its main components. By using a self-construct disclosure index, the study measures corporate Internet reporting based on an un-weighted checklist that includes 100 items. Of the Egyptian listed companies, 343 are surveyed to explore the extent of corporate Internet reporting. The findings reveal that about half of the Egyptian listed companies have a website. However, the level of corporate Internet reporting is slightly low relatively to the developed countries. The results of the empirical findings demonstrate that corporate Internet reporting by Egyptian listed companies is influenced by various variables such as company size, leverage, legal form, asset in place, financial type, foreign listing, audit type, shares volatility, shares activity, shares issuance, block holder ownership, managerial ownership, governmental ownership, institutional ownership, board size and family members on the board. In addition, the study indicates that these determinants vary among the various components of corporate Internet reporting: content, presentation, timeliness and usability. Finally, the study provides empirical evidence that corporate Internet reporting has a positive impact on firm value. Such a finding demonstrates the importance of corporate Internet reporting in the Egyptian context and reveals the motivation for applying such a disclosure medium.Egyptian Governmen

Why do you speak English (in your annual report)?

In this study the authors analyze the factors associated with the publication of an English-language annual report in non-English-speaking countries. Using a sample of 3,994 firms from 27 countries in 2003, they find that about 50% of the sample firms issue annual reports in English. Our findings suggest that the decision to publish an English annual report is related to the internationalization process (via foreign sales), language barriers (via language distance and language importance), governance (via ownership structure) and financial concerns (via the need for external financing, capital market size and cross-listing).International financial reporting; annual report; language; cost-benefit analysis; logistic regression