ANALYSING FACTORS INFLUENCING INTANGIBLE ASSET DISCLOSURE (STUDY IN SOUTH-EAST ASIA AND AUSTRALIA TELECOMMUNICATION INDUSTRY)

This study aims to examine intangible asset voluntary disclosure practices in annual report telecommunication company in South East Asia and Australia. This research sample is 75 telecommunication company at year 2007, 2008 dan 2009. Intangible asset disclosure study consist of three categories; structural capital, relational capital and human capital, based on Oliveira et al. categories. This study using content analysis method in annual report sample companies with index developed by Oliveira et al. as dependent variable. Independent variable which are firm size, leverage, ownership concentration, EBITDA margin, legal system of home country and secrecy accounting value, are analysed as factors influencing intangible asset voluntary disclosure practices. A significant positive relationship was observed between intangible asset voluntary disclosure and firm size and secrecy accounting value. However, leverage, ownership concentration, EBITDA margin and legal system of home country did not influence intangible asset voluntary disclosure practices

Mandatory Versus Voluntary Disclosure of Product Risks

We analyze a model in which firms are able to acquire information about product risks and may or may not be required to disclose this information. We initially study the effect of disclosure rules assuming that firms are not liable for the harm caused by their products. Although mandatory disclosure obviously is superior to voluntary disclosure given the information about product risks that firms possess -- since such information has value to consumers -- voluntary disclosure induces firms to acquire more information about product risks because they can keep silent if the information is unfavorable. The latter effect could lead to higher social welfare under voluntary disclosure. The same results hold if firms are liable for harm under the negligence standard of liability. Under strict liability, however, firms are indifferent about revealing information concerning product risk, and mandatory and voluntary disclosure rules are equivalent.

Strategic Aspects of Voluntary Disclosure Programs for Corruption Offences - Towards a Design of Good Practice -

Even though high penalties for corruption offences have a deterrent and preventive effect, they also entrap bribe-takers and bribe-givers in their corrupt relationship. Moreover, pending penalties can be misused to make threats against opportunistic behavior and can thus stabilize risky bribe agreements. This paper shows how voluntary disclosure programs can be strategically applied to break the ‘pact of silence’ and to promote opportunism in a targeted way. Against this background the paper studies the leniency provisions in the penal codes of 56 countries. The analysis reveals deficiencies in the utilization and in the design of voluntary disclosure programs for corruption offences.Corruption, Criminal Law, Leniency, Self-Reporting, Voluntary Disclosure Program

Analisis Faktor-faktor yang Mempengaruhi Luas Pengungkapan Sukarela dalam Laporan Tahunan Perusahaan Manufaktur di Bursa Efek Indonesia

The aims of this study is to analyze the influence of firm characteristics on voluntary disclosure in annual report in Indonesia. Factors tested in this study are ownership dispersion, firm age, leverage, return on equity. Collecting data is using porposive sampling methode to the manufacturing companies that listed in Indonesian Stock Exchange during 2012. This study uses content analysis to measure the extent of voluntary disclosure. There are 103 voluntary disclosure items to detect the extent of voluntary disclosure. This study used agency theory, stakeholder theory, and signal theory to explain lingkage between variables. This research uses multiple regression that use to examine the influence of firm characteristics on voluntary disclosure in annual report. The result of this research showed those independent variables that have significant influence on extent of voluntary disclosure is leverage and return on equity. However, firm age and ownership dispersion do not show significant influence on the extent of voluntary disclosures.Keywords: Annual Report, Firm Characteristics, Voluntary Disclosure, Voluntary Disclosure Items

Strategic aspects of voluntary disclosure programs for corruption offences: Towards a design of good practice

Even though high penalties for corruption offences have a deterrent and preventive effect, they also entrap bribe-takers and bribe-givers in their corrupt relationship. Moreover, pending penalties can be misused to make threats against opportunistic behavior and can thus stabilize risky bribe agreements. This paper shows how voluntary disclosure programs can be strategically applied to break the pact of silence and to promote opportunism in a targeted way. Against this background the paper studies the leniency provisions in the penal codes of 56 countries. The analysis reveals deficiencies in the utilization and in the design of voluntary disclosure programs for corruption offences. --Corruption,Criminal Law,Leniency,Self-Reporting,Voluntary Disclosure Program

Evolutionary model of existing competition and voluntary disclosure

We analyze how, in the absence of capital market incentives, the influence of existing competition on voluntary disclosure is an evolving process which has a non-monotonic design. The progressive capability of rivals to forecast significant information and the increasing losses of abnormal profits during the industry life cycle generate fears and incentives that change the sign of the relationship between competition and the probability of voluntary disclosure throughout the industry’s development. We support this new design empirically by applying a semi-parametric Cox model to 28 years of archival data for the entire Spanish newspaper sector. We also find that the best fitting model is the first harmonic of a Fourier seriesCompetition, Voluntary disclosure, Fourier series, Cox model

Determinants of the extent of voluntary disclosure in the annual reports of the Moroccan banks

Many studies have been conducted on the voluntary disclosure practices. Researchers still continue to come up with various conclusions with regard to the determinants of voluntary disclosure. The main objective of this study is to investigate the determinants of the level of voluntary disclosure of banking companies listed on the Casablanca Stock Exchange. In particular, we examine associations between the internal and external mechanisms of governance and the extent of voluntary disclosure. Analysis of annual reports of the Moroccan listed banks during the period 2005-2015, shows that the foreign ownership has the most significant positive impact on the extent of voluntary disclosure. The results also show that larger banks provide greater level of voluntary disclosure. However, contrary to Agency theory predictions, the CEO duality has a significant positive impact on the extent of voluntary disclosure of Moroccan listed banks. Other mechanisms of governance like board size, board independence, block ownership and government ownership are not significantly associated with voluntary disclosure. Keywords: Voluntary disclosure, banking companies, internal and external mechanisms of governance, annual reports, Agency theory predictions

The Influence of Company Characteristics on Market Reaction, with Quality of Voluntary Disclosure as Interveningvariable (Manufacturing Companies Listed on Idx Period 2012-2016)

The objectives of this research are to examine the influence of company characteristics includes age of company, size, leverage, profitability, liquidity and growth on market reaction with quality of voluntary disclosure as intervening variable on manufacturing company listed on Indonesia Stock Exchange in 2012-2016. The research sample is the manufacturing company listed on Indonesia Stock Exchange in 2012-2016. The sample are collected using purposive sampling method and resulted 2012 and 2013 is as much as 113 companies, 2014 is 112 companies, 2015 as much as 107 companies and 2016 as much as 41 companies. In summarize the total observation for 5 years are 486. The data type used is secondary data obtained from the annual report of a company that listed on IDX. Then, the method used is path analysis. The research results show that simultaneously age of company, size, leverage, profitability, liquidity and growth have no influence on quality of voluntary disclosure, nevertheless the relation partially show that (1) age has no influence on quality of voluntary disclosure, (2) size has negative influence on earnings persistence, (3) leverage has no influence on quality of voluntary disclosure, (4) profitability has no influence on quality of voluntary disclosure, (5) liquidity has no influence on quality of voluntary disclosure, and (6) growth has no influence on quality of voluntary disclosure. Next results show that quality of voluntary disclosure has influence on market reaction (abnormal return), nevertheless the relation partially show that quality of voluntary disclosure has negative but significant influence on abnormal return. Mediation result shows that age, size and liquidity that mediate by quality of voluntary disclosure on market reaction. Meanwhile, quality of voluntary disclosure is not mediating the influence of leverage, profitability and growth on market reaction (abnormal return)

Contracts Induced by Means of Bribery: Should they be Void or Valid?

This paper argues that contracts induced by means of bribery should be valid. Nullity and voidability decrease the incentive for voluntary disclosure, assist corrupt actors with enforcing their bribe agreements and provide leeway for abuse. Thus, they run counter to effective anti-corruption. It is argued that other instruments are more suitable for preventing corruption.Bribery, Contracts, Corruption, Due Diligence, Enforcement, Impugnment, Liability, Leniency, Nullity, Private Law Validity, Voidability, Voluntary Disclosure (Program)

FIRM CHARACTERISTIC, OWNERSHIP STRUCTURE AND VOLUNTARY DISCLOSURE: A Study of Indonesian listed Manufacturing Firm

This study is entitled Analysis of Factors Affecting Voluntary Disclosure (Empirical Study of Manufacturing Companies Listed on the Indonesia Stock Exchange Period 2017-2019). This study aims to examine the effect of leverage, liquidity, profitability, company size, managerial ownership, and institutional ownership on voluntary disclosure. Data analysis methods used are multiple regression analysis, simultaneous significance test and partial significance test. Simultaneous significance test results show that leverage, liquidity, profitability, company size, managerial ownership, and institutional ownership have a significant effect on voluntary disclosure. The results of the partial significance test show that leverage and firm size affect voluntary disclosure, while liquidity, profitability, managerial ownership, and institutional ownership do not affect voluntary disclosure. Keywords: voluntary disclosure, leverage, liquidity, profitability, company size, managerial ownership, institutional ownershi