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Do better governed Australian firms make more informative disclosures?

Research output: Working paper

Publication date2005
Place of PublicationLancaster University
PublisherThe Department of Accounting and Finance
<mark>Original language</mark>English

Publication series

NameAccounting and Finance Working Paper Series


We investigate whether and if so, how, corporate governance "quality" is related to the information flows from a company and how the stock market and its agents respond. Specifically, we study links between the "quality" of a firm’s corporate governance (CGQ) and the informativeness of its disclosures. We employ a novel, intra-year "timeliness" metric, in the spirit of Ball and Brown (1968) and Brown et al. (1999), to capture the average speed of price discovery throughout the year. Our results suggest that the answer to our question is "Yes": better-governed firms do make more informative disclosures.