summary of accounting and operations data, Chairman or managing director's statement, Directors' report, Financial statements, Statement of material events, Description of related companies, Notice of the AGM, Other information and Reference information. Although this study was not statistically analyzed, it was reported that the general level of compliance appeared to be high. The examination of the association between ownership structure and voluntary disclosure of listed companies in two Asian Countries of Hong Kong and Singapore is conducted by Chau and Gray (2002:247). A linear multiple regression analysis is used to test the association between the dependent variable of voluntary disclosure and the independent variable of ownership structure. In addition to the ownership structure, a number of control variables are also included in the model to test the hypotheses. They find that the extent of outside ownership is positively associated with voluntary disclosures. In particular, the results also indicate that the level of information disclosure is likely to be less in family businesses. German companies are investigated by Glaum and Street (2003:64). They investigate the extent to which German companies comply with both the International Accounting Standards and United States Generally Accepted Accounting Principles (GAAP), the two predominant internationally accepted sets of standards. Using a sample of 200 companies in their year 2000 financial statements, they discover that compliance ranges from 41.6% to 100%. The average compliance is 83.7% but significantly low for companies that apply IAS. They report that the overall level of disclosure is positively related to firms audited by Big 5 auditing firms and firms having cross-listings on US exchanges. Checks further reveal that industry, country of origin, profitability, multinationality, ownership structure, firm age, and growth has no significant impact on the disclosure practices. Similar to the studies of companies’ Glaum and Street (2003:64), Cuijpers and Buijink (2005:487) use IAS and US GAAP to examine the extent of compliance and determinants of voluntary adoption of these standards by firms listed and domiciled in the European Union (EU) for the period 1999. They find that firms voluntarily using nonlocal GAAP are more likely to be listed on a US exchange, the EASDAQ exchange in Brussels, and have more geographically dispersed operations. Furthermore, they are more likely to be
summary of accounting and operations data, Chairman or managing director's statement, Directors' report, Financial statements, Statement of material events, Description of related companies, Notice of the AGM, Other information and Reference information. Although this study was not statistically analyzed, it was reported that the general level of compliance appeared to be high. The examination of the association between ownership structure and voluntary disclosure of listed companies in two Asian Countries of Hong Kong and Singapore is conducted by Chau and Gray (2002:247). A linear multiple regression analysis is used to test the association between the dependent variable of voluntary disclosure and the independent variable of ownership structure. In addition to the ownership structure, a number of control variables are also included in the model to test the hypotheses. They find that the extent of outside ownership is positively associated with voluntary disclosures. In particular, the results also indicate that the level of information disclosure is likely to be less in family businesses. German companies are investigated by Glaum and Street (2003:64). They investigate the extent to which German companies comply with both the International Accounting Standards and United States Generally Accepted Accounting Principles (GAAP), the two predominant internationally accepted sets of standards. Using a sample of 200 companies in their year 2000 financial statements, they discover that compliance ranges from 41.6% to 100%. The average compliance is 83.7% but significantly low for companies that apply IAS. They report that the overall level of disclosure is positively related to firms audited by Big 5 auditing firms and firms having cross-listings on US exchanges. Checks further reveal that industry, country of origin, profitability, multinationality, ownership structure, firm age, and growth has no significant impact on the companies’ disclosure practices. Similar to the studies of Glaum and Street (2003:64), Cuijpers and Buijink (2005:487) use IAS and US GAAP to examine the extent of compliance and determinants of voluntary adoption of these standards by firms listed and domiciled in the European Union (EU) for the period 1999. They find that firms voluntarily using nonlocal GAAP are more likely to be listed on a US exchange, the EASDAQ exchange in Brussels, and have more geographically dispersed operations. Furthermore, they are more likely to be
ACCOUNTING_DISCLOSURES_AND_CORPORATE_ATTRIBUTES.docx