“Looking behind the veil”

Abstract

This paper builds on grounded theory of disclosure content by Holland (2004Holland ( , 2006b through new findings and analysis on the function and structure of the corporate value creation story. New structure to content was based on common underlying value creation and narrative structures, and use of similar categories of corporate intangibles. It was also based on common change or response qualities of the value creation story as well as persistence in telling the core value creation story. This structure was critical in making 'invisible' intangibles in corporate value creation visible to markets. The disclosure was a source of information per se informing current stock prices. The paper also expands Holland (2005) to show how the structured company value creation narrative, other corporate knowledge, and changing external states were at the heart of a dynamic corporate disclosure response to change. Narrative disclosure content was also reflected in the 'mirror of the market' (Roberts et al 2006). It created an informed context for capital market participants to continuously interpret the meaning of new events and create new information in a more informed way. These insights into disclosure content differed from relevant information content implied in corporate reporting, in stock exchanges demands for price sensitive information, and from conventional market concepts of value relevance. This creates many new opportunities to use the grounded theory to search for and examine new literature relevant to understanding disclosure content. The paper also explores new ways of measuring the value relevance of this novel form of contextual information and associated benchmarks.These new insights into disclosure content could help improve disclosure guidance by regulators and be used in areas of CSR and environmental disclosure.

Foreign whistleblowing: the impact of US extraterritorial enforcement on anti-corruption laws in Europe

“…Every organization includes a myriad of internal relationships and power dynamics that cannot be observed by outsiders (Roe, 2005). This makes public policing of illicit corporate conduct a real challenge unless enforcement authorities have inside information (Holland, 2009). Such inside information about corruption, bribery and similar unlawful and improper conduct is vital because it improves trust in the transparency and accountability of public and private institutions, the effectiveness of policing, the rule of law, public welfare and market competition (European Parliament, 2017).…”

Intellectual Capital Disclosure of Nigerian Companies: An Empirical Analysis

“…Financial information disclosure is mandatory in any public listed companies in order to comply with regulatory obligation of business world. Company's annual reports is a medium in which business organizations do showcase physical and intellectual assets information (Holland, 2009). This information must be adequate, complete, and timely disseminated to the public so that the users would be able to make appropriate and rational investment decisions.…”

“…New financial information is a signal to both prospective investors and ration investors (Srinivasan & Haseens, 2009). If physical asset information is reported by a company leaving intellectual asset information such information is regarded as incomplete (Holland, 2009). Incomplete information tends to mislead both the prospective investors and can be used to perpetrate fraud (Okwy & Christopher, 2010).…”