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The issue of corporate reporting disclosure behaviour is influenced not only by environmental factors, but also by corporate-specific attributes (e.g. firm age, firm size, profitability, liquidity, government ownership, foreign ownership, and listing status); this has attracted many academic researchers in several countries to investigate the impact of corporate attributes on the extent of different disclosure levels (i.e. mandatory, voluntary or aggregate disclosure). To date, less attention has been paid by academic researchers to voluntary disclosure practices by financial institutions in general, and banking disclosure practices in particular, despite the fact that the banking sector plays a major role in economic growth in a country. Moreover, there is very little empirical evidence about the impact of commercial bank-specific characteristics on the extent of annual information voluntarily disclosed. Thus, this book intended to help develop the disclosure literature in relation to the commercial banking sector, which is currently sparse, due to the limited empirical research on the extent of banking disclosure and its determinants.
This book aimed to identify the level of voluntary disclosure and the corporate governance attributes that would affect the level of voluntary disclosure in the annual financial reports of Jordanian banks listed in the Amman Stock Exchange (ASE) for the years 2007-2010. The corporate governance attributes include (i) the board of directors' size, (ii) the independence of the board, (iii) the separation between the position of chairman of the board of directors and CEO, (iv) the audit firm, (v) the profitability of the company and (vi) the concentration of the company's capital. Other attributes examined include: the size of the firm, the company's financial leverage and the number of branches. To measure voluntary disclosure, a disclosure index including 80 items was applied to the annual reports of (15) Jordanian banks listed in the ASE. A multiple regression model was employed and the results showed that, on average a bank disclosed 59.52% of the items included in the voluntary disclosure index. In addition, the results indicated that there was no relationship between voluntary disclosure and corporate governance which was measured by the above six mentioned variables.
The objective of our work is to examine the relationship between the level of forward-looking disclosure and firm characteristics (structured-related variables, performance-related variables, and market-related variables)for the period 2008-2010. The results show that firm size and audit firm size were significantly (in all the three years) with the level of forward-looking disclosure. Firm age was also significantly only in the year 2008 and with insignificant in years 2009 and 2010. While, profitability (measured by earning per share) and liquidity ratio were significantly in the years 2009 and 2010, and insignificantly only in the year 2008 with the level of forward-looking disclosure. However, leverage, ownership dispersion, profitability (measured by return equity ratio) and industry type variables were found insignificantly associated with the level of forward-looking information disclosed in the annual reports for all the three years.
This study investigates the extent and determinants of total voluntary disclosure and disclosure categories in financial and non-financial reports of banking companies listed on the Kazakhstan Stock Exchange. In particular, we examine the association between voluntary disclosure and governance factors, such as board size and board composition. We also examine how bank size and age explain variation in voluntary disclosure index. The empirical results suggest that the number of outside directors has the most significantly positive impact on disclosure score. Increase in bank size also leads to higher degree of voluntary reporting. However, the findings provide evidence that voluntary reporting does not improve over time.
The study examines the disclosure practices of commercial banks in India by carrying out a comparative analysis of public and private sector banks. It also finds out the highest and the least disclosed elements of banking disclosures. Finally it studies the impact of selected bank attributes on disclosure levels. The study is based on the secondary data which has been suitably tabulated and analyzed with the help of statistical techniques like z-test, ANOVA and multiple regression. The study concludes that there has been growth in the level of disclosure in almost all the banks. The results further reveal that public sector banks are disclosing more as compared to private sector banks. The study further identifies risk and corporate governance elements as the major areas where banks can improve their disclosures. Finally quality of management, age and ownership of the banks are the most significant variables influencing disclosures.
We investigate how the Dodd-Frank Act (DFA) affects voluntary disclosures of large bank holding companies (BHCs) relative to other banks and unregulated firms in the financial sector. Using a difference-in-differences research design, we find that following the introduction of the DFA, large banks become less likely to issue earnings forecasts containing bad news. They also reduce the frequency of issuing earnings forecasts but increase the frequency of providing forecasts for dividends and return on assets. In earnings-related conference calls, managers of large banks offer information with incrementally higher numerical and forward-looking intensity in both the prepared remarks and their answers to analysts' questions. Finally, we find that large banks provide incrementally less information than other banks about certain regulated activities and instead focus more on commercial banking financial performance and market innovation. Our findings provide the first evidence of the unintended consequences of the DFA on changes in affected banks' voluntary disclosures, an important component of the information environment.
These proceedings bring together a selection of papers from the 2012 Salford Postgraduate Annual Research Conference (SPARC). They reflect the breadth and diversity of research interests showcased at the conference, at which over 130 researchers from Salford, the North West and other UK universities presented their work. 21 papers are collated here from the humanities, arts, social sciences, health, engineering, environment and life sciences, built environment and business.