Voluntary disclosure of segment information: further Australian evidence
Article Abstract:
This study provides further empirical evidence on incentives for Australian firms to voluntarily report segment information. Various economic reasons many elect to present segment information have been hypothesized in previous research. Bradbury (1992) and McKinnon and Dalimunthe (1993) found firm size, minority interest and industry membership as significant identifiable characteristics motivating voluntary segmental disclosure. Variables found to be insignificant in Bradbury (1992) which were not examined by McKinnon and Dalimunthe (1993) are tested in this paper. Hypotheses relating to size, financial leverage, assets-in-place, earnings volatility, ownership diffusion, outside equity (minority) interest, overseas association as well as diverse and mining and oil classification hypotheses are empirically examined. Univariate tests and multivariate logit analysis suggest that for a extensive sample of diversified firms, voluntary segment disclosure is significantly related to size, leverage and involvement in mining or oil activities. (Reprinted by permission of the publisher.)
Publication Name: Accounting and Finance
Subject: Business
ISSN: 0810-5391
Year: 1995
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The voluntary presentation of value added statements in Australia: a political cost perspective
Article Abstract:
The paper explores corporate management's incentive to voluntarily disclose Value Added Statements in their yearly financial reports. Adopting a political cost perspective, hypotheses relating Value Added Statement disclosure to labour intensity, corporate tax payments, rate of return, size and industry volatility are developed. Using a sample of Australian publicly listed companies, the results of our empirical testing support the hypotheses that the decision to voluntarily disclose Value Added Statements is related to a company's size (in terms of both market concentration and profitability), a proportional measure of tax payments and the industry to which it belongs. Labour intensity and rate of return were found to be unrelated to the voluntarily disclosure of Value Added Statements. (Reprinted by permission of the publisher.)
Publication Name: Accounting and Finance
Subject: Business
ISSN: 0810-5391
Year: 1991
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Voluntary disclosure by financial intermediaries: evidence from Australian life insurers promoting investment-related contracts
Article Abstract:
Voluntary financial disclosure by Australian life insurers promoting investment-related contracts is predicted to be related to fees, funds under management, investment risk and return, liability risk and marketing costs factors. The decision to voluntarily disclose various forms of financial data in documents promoting investment-related contracts was studied during 1989-90. Life insurance managers providing financial disclosures tend to: (a) charge lower fees, (b) hold larger funds under management, (c) are exposed to higher investment risk, (d) are exposed to lower liability risk and (e) bear lower marketing costs. This evidence supports Mayers and Smiths' [1981] positive theory of insurance-related contracting. (Reprinted by permission of the publisher.)
Publication Name: Accounting and Finance
Subject: Business
ISSN: 0810-5391
Year: 1995
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