CGA: Disclosure & Transparency (Topic)最新文献

The Three Pillars of Corporate Social Reporting as New Governance Regulation: Disclosure, Dialogue and Development 企业社会报告作为新治理规则的三大支柱:披露、对话和发展

CGA: Disclosure & Transparency (Topic) Pub Date : 2008-07-01 DOI: 10.2139/ssrn.1176882

David Hess

引用次数: 0

Corporate Governance and the Timeliness of Financial Reporting: A Case Study of the Russian Energy Sector 公司治理与财务报告的及时性:以俄罗斯能源部门为例

CGA: Disclosure & Transparency (Topic) Pub Date : 2007-04-01 DOI: 10.2139/ssrn.978114

Robert W. McGee

{"title":"Corporate Governance and the Timeliness of Financial Reporting: A Case Study of the Russian Energy Sector","authors":"Robert W. McGee","doi":"10.2139/ssrn.978114","DOIUrl":"https://doi.org/10.2139/ssrn.978114","url":null,"abstract":"Timeliness of financial reporting is an attribute of good corporate governance. Shareholders and other stakeholders need information while it is still fresh and the more time that passes between year-end and disclosure, the more stale the information becomes and the less value it has. Corporate governance is a relatively new concept for transition economies. Prior to the fall of the Berlin Wall and the collapse of the Soviet Union there were no profit-making corporations, no shareholders and no need to report financial results except to the government. All that has changed. In order to raise capital, corporations need to convince potential investors that an investment in their company will be safe. That requires financial reporting standards that can be trusted and financial information that is reported in a timely manner. But the culture of former communist countries is not to disclose information. That mentality is changing as their formerly closed economies open up to investment from the west. This article examines the timeliness of financial reporting in the Russian energy sector. One reason why this segment of the economy was chosen is because it is one of the most important economic sectors. Another reason is because the energy sector has been the recipient of large sums of foreign investment, which presumably means the standards of financial reporting in the energy sector is better than average. The timeliness of financial reporting in the Russian energy sector was measured by counting the number of days that elapsed between year-end and the date of the independent auditor's report. Those results were then compared to the timeliness of financial reporting by non-Russian energy companies to determine whether there was a significant difference in the timeliness of financial reporting. The study found that Russian companies took significantly more time to report financial results than did the non-Russian companies.","PeriodicalId":243363,"journal":{"name":"CGA: Disclosure & Transparency (Topic)","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115153208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 91

What Do Firms Disclose and Why? Enforcing Corporate Governance and Transparency in Central and Eastern Europe 公司披露什么?为什么?加强中欧和东欧的公司治理和透明度

CGA: Disclosure & Transparency (Topic) Pub Date : 2005-05-10 DOI: 10.2139/ssrn.676689

Erik Berglöf, Anete Pajuste

引用次数: 219

Does Auditor Compensation Lower Market Liquidity? 审计师薪酬是否降低了市场流动性?

CGA: Disclosure & Transparency (Topic) Pub Date : 2004-03-01 DOI: 10.2139/ssrn.511823

N. A. Ascioglu, S. Hegde, John McDermott

引用次数: 2

The Voluntary Disclosure of Financial Information on the Internet and the Firm Value Effect in Companies Across Latin America 拉丁美洲企业互联网财务信息自愿披露与企业价值效应

CGA: Disclosure & Transparency (Topic) Pub Date : 2004-01-01 DOI: 10.2139/ssrn.493805

Wesley Mendes-da-Silva, Luiz Alberto de Lira Alves

{"title":"The Voluntary Disclosure of Financial Information on the Internet and the Firm Value Effect in Companies Across Latin America","authors":"Wesley Mendes-da-Silva, Luiz Alberto de Lira Alves","doi":"10.2139/ssrn.493805","DOIUrl":"https://doi.org/10.2139/ssrn.493805","url":null,"abstract":"Society has been imposing standards of ethical behavior on the corporations, above all as regards the degree of transparency of information about their activities being made available to the public. At the same time the world has gone through changes because of the Information Age. The old paradigms of communication have been definitely broken, bringing about changes in the day-to-day of the corporations. Thus the companies are increasing the use of the Internet as a means of investor relations. By that they present a greater degree of corporate transparency to the market, which may maximize value for the shareholders. Studies have evaluated that the practice of Corporate Governance adopted by Latin American companies is still in the beginning (La Porta et al. 2000 and Gibson, 2002). Also the scientific production about that theme is still very discreet in Latin America. Thus being, the objective of this article is to verify the existence of association between the disclosure of financial information using the Web (INFO) by Latin American companies and the firm value as measured by the Tobin's Q Ratio (Q). The study consists of a cross-section based on data from a group of 150 companies selected randomly and stratified considering the environment of the Stock Exchanges in Argentina, Brazil and Mexico in 2002. Multivariate analysis has made evident the existence of significant association between the firm value and the voluntary Disclosure of Financial Information. The results have also revealed that this association could vary according to the Industry sector (SECT) of the company or also its size (SIZE). It has also been observed that it is irrelevant the country (COUNT) in which the company operates to the association between the voluntary disclosure of financial information on its web page and the firm value.","PeriodicalId":243363,"journal":{"name":"CGA: Disclosure & Transparency (Topic)","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2004-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127069355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 41