Information Disclosure and its Determinants on Lithuanian Companies Websites: Quantitative Approach

Abstract

Nowadays, the issue of stakeholders' effective decision-making has become increasingly important. In most cases the information, provided in financial statements, is not sufficient to make decisions, thus the importance of voluntarily disclosed information increases. The Internet and companies' websites may serve as a vehicle for the provision of such information. Therefore, the purpose of the article is to measure the extent of voluntary information disclosure on the websites of Lithuanian companies and to investigate whether there is a significant association between theoretically possible disclosure determinants. Research methods used in the study are the following: comparative analysis of scientific literature, logical, systematic analysis, content analysis using scope and quantity index approaches and correlation analysis using Spearman's rank correlation coefficient. Results showed a statistically significant connection between the company's size (as determined by its earnings) and the company's voluntary information disclosure index. The companies with higher earnings are inclined to provide a wider scope and a larger volume of information. Furthermore, the connection between the number of employees and the word quantity index wasn't established. This research adds to the samples of previous studies and analyses disclosure of financial and non-financial information on companies' websites.

Investor communication channels: the case of e-mail and corporate websites – mutually exclusive or complementary?

“…To date, various studies have examined the determinants of website disclosures (e.g. Ahmed et al, 2017;Kundelien_ e and Stepanauskait_ e, 2018;Mokhtar, 2017). Drawing from these studies, the following six variables were examined in the current study as variables that could explain companies' e-mail handling performance and website management: size, directors' shareholding, profitability, listing status, audit firm and industry membership.…”

Modeling of "information bubbles" in the global information space

“…This process requires increased investment capacity, integrating modern management information systems with digitalization processes (Sotnyk et al, 2020). On the other hand, the Internet may be the most effective means of providing prompt information (Kundeliene & Stepanauskaite, 2018) and influencing economic processes, namely increasing consumer behavior (Rybaczewska et al, 2020). The level of information security undoubtedly affects the social sphere (Vasilyeva et al, 2020;Didenko et al, 2020), especially in terms of ensuring personal data protection as the object of cyber financial fraud .…”

Sustainability Information in Annual Reports of Companies Domiciled in the Czech Republic and the Slovak Republic

“…In the context of Central and Eastern Europe, there are several up-to-date English-language articles on sustainability reporting published in high-quality journals (e.g., Dagiliene, 2010;Dagiliene & Nedzinskiene, 2018;Gallen & Peraita, 2018;Habek, 2014;Habek & Wolniak, 2015;Horvath et al, 2017;Kundeliene & Stepanauskaite, 2018;Kunz, Ferencova, Hronova, & Singer, 2015;Lock & Seele, 2016;Szczepankiewicz & Mucko, 2016;Tetrevova, 2018, Waniak-Michalak, Sapkauskiene, & Leitoniene, 2018). If we look at the articles from the viewpoint of the countries analyzed, there are only two papers aimed at the Czech Republic, both of which analyze reporting through corporate websites.…”

“…Companies adopt various initiatives to achieve sustainability-related goals and often publicly disclose the results of these initiatives in a variety of reports, such as specialized corporate responsibility reports, annual financial reports (hereinafter abbreviated "AFR"), and web pages (Kundeliene & Stepanauskaite, 2018). The adoption of these initiatives is growing as reporting on environmental, social and governance indicators is increasingly required by various stakeholders (Bonson & Bednarova, 2015).…”