Corporate Governance: Factors Influencing Voluntary Disclosure by Publicly Traded Canadian Firms (ABSTRACT)
Bujaki, M., & McConomy, B.
published: 2002 | Research publication | Refereed Journals - Accounting
Bujaki, M., & McConomy, B. (2002). "Corporate Governance: Factors Influencing Voluntary Disclosure by Publicly Traded Canadian Firms". Canadian Accounting Perspectives, 1(2), pp. 105-139.
ABSTRACT: This study reports on the comprehensiveness of voluntary corporate governance disclosures in the annual reports and management information circulars of Toronto Stock Exchange (TSE) firms. It focuses on disclosure of the corporate governance practices implemented by the same of TSE 300 firms vis-a-vis the 14 guidelines set out in the TSE's report on corporate governance Where Were the Directors? The analysis indicates that only a very few firms disclose that they have fully implemented the TSE guidelines, and that the extent of disclosure of corporate governance practices implemented varies widely among the firms. It then tests factors associated with the comprehensiveness of such disclosure and the choice of disclosure medium using simultaneous equations multivariate analysis. It also assesses the influence of publicized corporate governance failures on disclosure. Overall, the results suggest that the choices of disclosure medium and the extent of disclosure are made concurrently, and are influenced by the strategic considerations of management.
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revised Jan 18/06
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