Investment and disclosure: the disciplinary role of periodic performance reports

Article Abstract:

A study was conducted to investigate the effect of the information on underlying corporate decisions that affect a business enterprise's value. This information is frequently not made available to the public nor directly seen by investors who trade the company's stock in capital markets. Results indicate that periodic external performance reports such as earnings statements would substantially minimize severe incentive problems that arise when corporate managers are more informed than the capital market. Investors could use such performance reports to update their evaluations of the organization's future cash flows to subsequently value the firm. Results also suggest that these performance reports discipline management's investment choices in such a way that these decisions transmit information to the capital market.

Planning & Information, Research, Decision-making, Decision making, Prices and rates, Stocks, Corporations, Business planning, Stock prices, Valuation, Stock price forecasting, Information management

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Imprecision in accounting measurement: Can it be value enhancing?

Article Abstract:

The economic consequences of such imprecision when it interacts with information asymmetry regarding an investment project's ex ante profitability, known only by the firm's managers. It is suggested that the optimal degree of imprecision and identifies the key determinants.

Accounting Methods, Socially responsible investments

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Ownership concentration in privatized firms: the role of disclosure standards, auditor choice, and auditing infrastructure

Article Abstract:

Accounting and financial standards in privatized firms are evaluated.

Private companies, Achievements and awards, Accounting standards

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