Abstract
The study aims to propose a multi-theoretical framework based on information asymmetry and institutional theories by focusing on the OFR regulation changing period from 2004-2006. We carry out an empirical investigation to detect the extent of forward-looking information for a sample of 690 UK non-financial firm-year observations which are drawn from the top 500 UK. We show that the extent of voluntary disclosure of Forward Looking (FL) information is positively and significantly associated with growth opportunities, leadership, audit committee, competition rate, corporate size, and cross-listing. However, the extent of FL information is negatively and significantly associated with blockholders. This paper applies a multi-theoretical lens based on information asymmetry and institutional theories are employed in order to identify potential new determinants of voluntary disclosure in regards to forward-looking information in the UK context.
Subject
General Business, Management and Accounting
Reference84 articles.
1. Abad, C., Bravo, F. and Trombetta, M. (2008), “Methodological and Empirical Analysis of Problems in the Measurement of Voluntary Disclosure”, Workshop on Accounting and Finance, June 19- June 20, University Bocconi.
2. Abed, S., Roberts, C. and Hussainey, K. (2014), "Managers’ Incentives for Issuing Cash Flow Forecasts", International Journal of Accounting, Auditing and Performance Evaluation, Vol. 10, No.2, PP. 133-152.
3. Abed, S., Al-Najjar B., and Roberts, C. (2015), «How to Measure Annual Report Narratives Disclosure? Empirical Evidence from Forward-Looking Information in the UK Prior the Financial Crisis», Managerial Auditing Journal, forthcoming.
4. Adams, C.A., Hill, W.Y. and Roberts, C.B. (1998), "Corporate Social Reporting Practices in Western Europe: Legitimating Corporate Behaviour", British Accounting Review, Vol. 30, No.1, PP.1-21.
5. Adhikari, A. and Duru, A. (2006), “Voluntary Disclosure of Free Cash Flow Information”, Accounting Horizons, Vol. 20, No. 4, PP. 311-332.
Cited by
2 articles.
订阅此论文施引文献
订阅此论文施引文献，注册后可以免费订阅5篇论文的施引文献，订阅后可以查看论文全部施引文献