Submitted manuscript, 346 KB, PDF document
Research output: Working paper
Research output: Working paper
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TY - UNPB
T1 - Corporate governance and the informativeness of disclosures in Australia
T2 - a re-examination
AU - Beekes, Wendy
AU - Brown, Philip
AU - Zhang, Qiyu
PY - 2014/6/3
Y1 - 2014/6/3
N2 - We re-examine the association between corporate governance and disclosures reported by Beekes and Brown (2006), using an extended time series of Australian data. Since the ASX corporate governance guidelines were introduced in 2003, firms generally have increased their disclosure frequency and demonstrated an improvement in the timeliness of bad news relative to good news, indicating a levelling of disclosure practices and greater transparency. Better governed firms have become more cautious in their disclosure practices. However they continue to be more balanced with respect to good and bad news timeliness. Changes to disclosure laws have also influenced company practices.
AB - We re-examine the association between corporate governance and disclosures reported by Beekes and Brown (2006), using an extended time series of Australian data. Since the ASX corporate governance guidelines were introduced in 2003, firms generally have increased their disclosure frequency and demonstrated an improvement in the timeliness of bad news relative to good news, indicating a levelling of disclosure practices and greater transparency. Better governed firms have become more cautious in their disclosure practices. However they continue to be more balanced with respect to good and bad news timeliness. Changes to disclosure laws have also influenced company practices.
KW - Corporate governance
KW - Disclosure frequency
KW - Price discovery
KW - Timeliness
M3 - Working paper
SP - 1
EP - 47
BT - Corporate governance and the informativeness of disclosures in Australia
PB - Lancaster University
CY - Lancaster
ER -