Chief executive officer remuneration disclosure quality: corporate responses to an evolving disclosure environment

Clarkson, Peter; Bueren, Ami Lammerts Van; Walker, Julie

doi:10.1111/j.1467-629x.2006.00197.x

Cited by 70 publications

(87 citation statements)

References 6 publications

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“…Future studies may wish to examine data from prior to contemplation of the ASX Principles, perhaps in comparison with a post ASX CG Principles sample, or to conduct a longitudinal study. Recent research in Australia suggests that firms provide quality disclosure only when these requirements are "black letter" or mandatory (Clarkson et al 2006). …”

Section: Discussionmentioning

confidence: 99%

“…The first was simply whether the director is a non-executive director or not (Clarkson et al 2006). Annual reports sometimes imply that the term non-executive indicates an independent director.…”

Section: Independencementioning

confidence: 99%

“…Audit firm size was used as a proxy for quality (Clarkson et al 2006;DeAngelo 1981;Francis, Khurana and Pereira 2003). One point was awarded for a "Big Four" audit firm.…”

Section: External Auditmentioning

confidence: 99%

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Corporate Governance and Sustainability Disclosures and the Assessment of Default Risk

James-Overheu

Cotter

2009

AJFA

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This paper investigates whether the quality of a firm"s corporate governance practices and its sustainability disclosures are inversely related to its assessed default risk. It is expected that high reported standards of corporate governance will reduce the assessment of a company"s default risk by lenders, underwriters and ratings agencies, and therefore reduce the cost of debt for such companies. A corporate governance index based on annual report disclosures was developed to rate each company"s corporate governance quality. Derivation of this index was centred on corporate governance indicators suggested by prior research and best practice; particularly the Australian Stock Exchange "Principles of Good Corporate Governance and Best Practice Recommendations". It is similarly expected that the voluntary disclosure of sustainability information (Corporate Social Reporting or CSR) will enhance a firm"s management reputation. The assessment of default risk is captured by a firm"s individual credit rating supplied by Standard and Poor"s. Our results indicate that neither annual report disclosures about corporate governance practices nor sustainability disclosures are significantly related to assessed default risk when firm size is controlled.

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Section: Discussionmentioning

confidence: 99%

Section: Independencementioning

confidence: 99%

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Corporate Governance and Sustainability Disclosures and the Assessment of Default Risk

James-Overheu

Cotter

2009

AJFA

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“…Following prior studies in the disclosure literature (e.g., Botosan 1997;Clarkson et al 2006;Shalev 2009) we use self-developed disclosure quality indices and study the assumptions underlying and uncertainties surrounding the DCF projections. The indices focus on key assumptions and disclosures, such as the discount rates and estimated vacancy, which are of potential importance for investors attempting to evaluate the reliability of fair value measurements.…”

Section: Introductionmentioning

confidence: 99%

Cross-Country Differences in Disclosure Quality: A Study of Fair Value Disclosures by European Real Estate Companies.

2015

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Document de Treball núm.13/7La sèrie Documents de treball d'economia de l'empresa presenta els avanços i resultats d'investigacions en curs que han estat presentades i discutides en aquest departament; això no obstant, les opinions són responsabilitat dels autors. El document no pot ser reproduït total ni parcialment sense el consentiment de l'autor/a o autors/res. Dirigir els comentaris i suggerències directament a l'autor/a o autors/res, a la direcció que apareix a la pàgina següent.A Working Paper in the Documents de treball d'economia de l'empresa series is intended as a mean whereby a faculty researcher's thoughts and findings may be communicated to interested readers for their comments. Nevertheless, the ideas put forwards are responsibility of the author. Accordingly a Working Paper should not be quoted nor the data referred to without the written consent of the author. Please, direct your comments and suggestions to the author, which address shows up in the next page. Cross-Country Differences in Cross-Country Differences in Disclosure Quality: a Study of Fair Value Disclosures by European Real Estate Companies AbstractCompanies are under IAS 40 required to report fair values of investment properties on the balance sheet or to disclose them in the notes. The standard requires also that companies have to disclose the methods and significant assumptions applied in determining fair values of investment properties. However, IAS 40 does not include any illustrative examples or other guidance on how to apply the disclosure requirements. We use a sample with publicly traded companies from the real estate sector in the EU. We find that a majority of the companies use income based methods for the measurement of fair values but there are considerable cross-country variations in the level of disclosures about the assumptions used in determining fair values. More specifically, we find that Scandinavian and German origin companies disclose more than French and English origin companies. We also test whether disclosure quality is associated with enforcement quality measured with the "Rule of Law" index according to Kaufmann et al. (2010), and associated with a secrecyversus transparency-measure based on Gray (1988). We find a positive association between disclosure and earnings quality and a negative association with secrecy.2

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“…6 A change in the regulatory environment is sometimes met with resistance and reticence. For example, when CEO remuneration disclosure was initially required by the Company Law Review Act 1998, firms generally failed to comply until the requirements were formalised by Director and Executive Disclosures by Disclosing Entities (Clarkson et al, 2006). Investigating the effect of corporate governance on statutory executive stock option disclosure, Nelson et al (2010) find an increase in overall compliance although there was reluctance to disclose on the more sensitive aspects of stock options.…”

Section: Audit Regulationmentioning

confidence: 99%

A review of research on regulation changes in the Asia‐Pacific region

Chang

Jackson

Wee

2017

Accounting & Finance

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In this study, we review the financial research on regulation in the Asia-Pacific region. We do this by analysing six leading regional accounting and finance journals -Abacus, Accounting & Finance, Australian Accounting Review, Australian Journal of Management, International Review of Finance and the Pacific-Basin Finance Journal. We identify five main themes of regulation research relating to: (i) banking and financial institutions, (ii) markets and trading, (iii) corporate governance, (iv) disclosure and (v) accounting standard setting. Our paper synthesises the regional literature in these areas and provide some suggestions for future directions.

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Chief executive officer remuneration disclosure quality: corporate responses to an evolving disclosure environment

Cited by 70 publications

References 6 publications

Corporate Governance and Sustainability Disclosures and the Assessment of Default Risk

Corporate Governance and Sustainability Disclosures and the Assessment of Default Risk

Cross-Country Differences in Disclosure Quality: A Study of Fair Value Disclosures by European Real Estate Companies.

A review of research on regulation changes in the Asia‐Pacific region

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