1,720,979 research outputs found
Quantity vs Quality: the case of Forward Looking Disclosure
No full textEmpirical studies do not make a clear distinction between the quantity and quality of disclosure. As it is generally assumed that the quantity of information has an implication in determining its quality, quantity measures are often used as proxy for disclosure quality. Nonetheless the measurement of the quality of disclosure is recognized as a relevant question that is still open and the importance of developing measures of disclosure quality is emphasised in literature.
This paper disputes the idea that the quantity of disclosure is a sound proxy for the quality of disclosure. The adoption of multidimensional frameworks for the appreciation of disclosure is discussed and an index for quality disclosure is proposed. Moving from the assumption that high quality information should usefully support external users in the judgement of past and future performance, we hypothesize that high quality disclosure is positively associated with accuracy and negatively associated with the dispersion of analysts’ earnings forecasts.
We show analytically that the proposed framework captures dimensions of annual report disclosure that are considered useful by financial analysts in forecasting earnings and that the proposed measure of disclosure quality has a stronger positive statistical association with accuracy and a stronger negative association with the dispersion of financial analysts’ earnings forecasts than a simple index of disclosure quantity has
From Internal Auditing to Enterprise Risk Management : the Case of the Telecomitalia Group
No full textAna analysis of Internal Control Systems in large MNC
Gli indicatori di Processo nel governo dei rischi aziendali
No full textAnalisi delle relazioni fra rischi e processi di busines
La valutazione del Sistema di Controllo Interno nella relazione sulle Corporate Governance
No full textAnalisi delle problematiche di comunicazione in materia di sistemi di controllo interno all'interno della relazione sulla corporate governance. Illustrazione di uno schema di per disclosure dei contenuti
Corporate Governance e Assessment del Sistema di Controllo Interno : cosa comunicano le società quotate ?
No full textAnalisi della comunicazione inmateria di sistemai di controllo interno condotta su un campione di società quotate in Itaia ed all'ester
Intellectual Capital Disclosure (ICD): a comparison of Italy and the UK
No full textPurpose – To explore the hypothesis that differences in intellectual capital disclosure (ICD) practices
can be explained, if in part, by industrial sector (traditional; knowledge intensive) and nationality of
origin (Italy; UK).
Design/methodology/approach – Content analysis of the annual reports of two reasonably
matched samples of both high-technology and traditional non-financial firms in Italy and the UK.
Univariate and multivariate analyses are then used to test the hypothesis proposed.
Findings – Size and industrial sector are found to be predictors of levels of ICD; the hypothesis
relating nationality of origin to ICD is not supported.
Research limitations/implications – The main limitation relates to sample size due to the onerous
nature of this form of research. Further research following this matched-sample methodology should
attempt to maximise sample sizes allowing for the incorporation of more specific nationally of origin
factors.
Practical implications – Owing to the increasing importance of intangibles and intellectual capital,
how these are reported is of interest to a large range of stakeholders. There is, as yet, no universally
accepted form, or indeed regulation, of ICD.
Originality/value – The matched-sample methodology on international ICD comparison expands
on extant approaches
Forward-Looking Disclosures, Financial Verifiability and Analysts' Forecasts : A Study of Cross-Listed European Firms
No full textForward-looking disclosures are a crucial source of information when valuing a company. We study the effect of forward-looking disclosures on analysts’forecast properties, in particular accuracy and dispersion. Our sample includes all the non-financial firms from Italy, Germany, France and Switzerland that in year 2002
were cross-listed on local stock exchanges and on the New York Stock Exchange. We conduct a content analysis on the Annual Report and the 20F form of these companies for the years 2002, 2003 and 2004. We differentiate between forwardlooking information on the basis of the disclosure of expected effects on future financial performance and the disclosure of a measure of this impact. We define forward-looking information disclosed with the characteristics of being quantified and directed (and financial) as financially verifiable as it facilitates the comparison with its subsequent realisation in relation to expected future financial performance. Our analysis finds support for the theoretical prediction that verifiable disclosures are more effective than unverifiable disclosures at improving accuracy and reducing dispersion of analysts’ forecasts. Our sample also allows us to explore the effects of the difference between the degrees of verifiability between forward-looking disclosures of the 20F form versus those of the domestic annual report. Our analysis provides
empirical support for the hypotheses that these differences are significant and have a significant effect on forecast properties
Le aziende industriali municipali di Vicenza. Governo della città e nascita del servizio pubblico (1906-1996)
No full textIl volume ricostruisce il processo di modernizzazione dello spazio urbano della città di Vicenza tra la seconda metà dell'ottocento e l'età giolittiana e l'avvio della municipalizzazione dei servizi pubblici
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
- …
