Evaluating disclosure theory using the views of UK finance directors in the intellectual capital context

References

• Abeysekera , I. 2008 . Motivations behind human capital disclosure in annual reports . Accounting forum , 32 ( 1 ) : 16 – 29 .
   Google Scholar
• Akerlof , G. 1970 . The market for lemons: quality uncertainty and the market mechanism . Quarterly journal of economics , 84 ( 3 ) : 488 – 500 .
   Web of Science ®Google Scholar
• Armitage , S. and Marston , C. 2007 . Corporate disclosure and the cost of capital: the views of finance directors , London : ICAEW Centre for Business Performance .
   Google Scholar
• Ashton , R. H. 2005 . Intellectual capital and value creation: a review . Journal of accounting literature , 24 : 53 – 134 .
   Google Scholar
• Barker , R. 1998 . The market for information – evidence from finance directors, analysts and fund managers . Accounting and business research , 29 ( 1 ) : 3 – 20 .
   Google Scholar
• Beattie , V. and Pratt , K. 2003 . Issues concerning web-based business reporting: an analysis of the views of interested parties . British accounting review , 35 ( 2 ) : 155 – 187 .
   Google Scholar
• Bebbington , J. , Larrinaga , C. and Moneva , J. M. 2008 . Corporate social reporting and reputation risk management . Accounting, auditing and accountability journal , 21 ( 3 ) : 337 – 361 .
   Google Scholar
• Beyer , A. , Cohen , D. A. , Lys , T. Z. and Walther , B. R. 2010 . The financial reporting environment: review of the recent literature . Journal of accounting and economics , 50 ( 1–2 ) : 296 – 343 .
   Web of Science ®Google Scholar
• Bloomfield , R. and Fischer , P. E. 2011 . Disagreement and the cost of capital . Journal of accounting research , 49 ( 1 ) : 41 – 68 .
   Web of Science ®Google Scholar
• Botosan , C. A. 1997 . Disclosure level and the cost of equity capital . Accounting review , 72 ( 3 ) : 323 – 349 .
   Web of Science ®Google Scholar
• Botosan, C.A., 2006. Disclosure and the cost of capital: what do we know? Accounting and business research, International Accounting Policy Forum, 36 (special issue), 31–40.
   Google Scholar
• Botosan , C. A. and Plumlee , M. A. 2002 . A re-examination of disclosure level and the expected cost of equity capital . Journal of accounting research , 40 ( 1 ) : 21 – 40 .
   Web of Science ®Google Scholar
• Bukh , P. N. , Nielsen , C. , Gormsen , P. and Mouritsen , J. 2005 . Disclosure of information on intellectual capital in Danish IPO prospectuses . Accounting, auditing and accountability journal , 18 ( 6 ) : 713 – 732 .
   Google Scholar
• Core , J. E. 2001 . A review of the empirical disclosure literature: discussion . Journal of accounting and economics , 31 ( 1–3 ) : 441 – 456 .
   Web of Science ®Google Scholar
• Crawford , V. P. and Sobel , J. 1982 . Strategic information transmission . Econometrica , 50 ( 6 ) : 1431 – 1451 .
   Web of Science ®Google Scholar
• Deegan , C. 2000 . Financial accounting theory , Australia : McGraw-Hill .
   Google Scholar
• Deegan , C. and Gordon , B. 1996 . A study of the environmental disclosure practices of Australian corporations . Accounting and business research , 26 ( 3 ) : 187 – 199 .
   Google Scholar
• Edvinsson , L. and Malone , M. S. 1997 . Intellectual capital , New York : Harper Business .
   Google Scholar
• Elliott , R. K. and Jacobson , P. D. 1994 . Costs and benefits of business information disclosure . Accounting horizons , 8 ( 4 ) : 80 – 96 .
   Google Scholar
• Firer , S. and Williams , S. M. 2005 . Firm ownership structure and intellectual capital disclosures . South African journal of accounting research , 19 ( 1 ) : 1 – 18 .
   Google Scholar
• Francis , J. , Philbrick , D. and Schipper , K. 1994 . Shareholder litigation and corporate disclosures . Journal of accounting research , 32 ( 2 ) : 137 – 164 .
   Web of Science ®Google Scholar
• Francis , J. , Nanda , D. and Olsson , P. 2008 . Voluntary disclosure, earnings quality, and cost of capital . Journal of accounting research , 46 ( 1 ) : 1 – 47 .
   Web of Science ®Google Scholar
• Gibbins , M. , Richardson , A. and Waterhouse , J. 1990 . The management of corporate financial disclosure: opportunism, ritualism, policies, and processes . Journal of accounting research , 28 ( 1 ) : 121 – 143 .
   Web of Science ®Google Scholar
• Graham , J. R. , Harvey , C. R. and Rajgopal , S. 2005 . The economic implications of corporate financial reporting . Journal of accounting and economics , 40 ( 1–3 ) : 3 – 73 .
   Web of Science ®Google Scholar
• Gunther, T. and Beyer, D., 2003. Hurdles for the voluntary disclosure of information on intangibles – empirical results for new economy industries. Dresden Papers of Business Administration, No. 71/03.
   Google Scholar
• Guo , R.-J. , Lev , B. and Zhou , N. 2004 . Competitive costs of disclosure by biotech IPOs . Journal of accounting research , 42 ( 2 ) : 319 – 355 .
   Web of Science ®Google Scholar
• Guthrie , J. , Petty , R. and Ricceri , F. 2007 . External intellectual capital reporting: evidence from Australia and Hong Kong , Edinburgh : Institute of Chartered Accountants of Scotland .
   Google Scholar
• Healy , P. and Palepu , K. 2001 . A review of the empirical disclosure literature . Journal of accounting and economics , 31 ( 1–3 ) : 405 – 440 .
   Web of Science ®Google Scholar
• Healy , P. , Hutton , A. and Palepu , K. 1999 . Stock performance and intermediation changes surrounding sustained increases in disclosure . Contemporary accounting research , 16 ( 3 ) : 485 – 520 .
   Google Scholar
• Heitzman , S. , Wasley , C. and Zimmerman , J. 2010 . The joint effects of materiality thresholds and voluntary disclosure incentives on firm's disclosure decisions . Journal of accounting and economics , 49 ( 1–2 ) : 109 – 132 .
   Web of Science ®Google Scholar
• Holland , J. 1998 . Private disclosure and financial reporting . Accounting and business research , 28 ( 4 ) : 255 – 269 .
   Google Scholar
• Holland , J. 2004 . Corporate intangibles, value relevance and disclosure content , Edinburgh : The Institute of Chartered Accountants of Scotland .
   Google Scholar
• Holland , J. 2005 . A grounded theory of corporate disclosure . Accounting and business research , 35 ( 3 ) : 249 – 267 .
   Google Scholar
• Huang , C. C. , Luther , R. and Tayles , M. 2007 . An evidence-based taxonomy of intellectual capital . Journal of intellectual capital , 8 ( 3 ) : 386 – 408 .
   Google Scholar
• Jensen , M. C. 2002 . Value maximization, stakeholder theory, and the corporate objective function . Business ethics quarterly , 12 ( 2 ) : 235 – 256 .
   Web of Science ®Google Scholar
• Kim , J.-O. and Mueller , C. W. 1978 . Introduction to factor analysis: what it is and how to do it , Thousand Oaks , , CA : Sage Publications .
   Google Scholar
• Kothari , S. P. , Li , X. and Short , J. E. 2009 . The effect of disclosures by management, analysts, and business press on cost of capital, return volatility, and analyst forecasts: a study using content analysis . Accounting review , 84 ( 5 ) : 1639 – 1670 .
   Web of Science ®Google Scholar
• Kristandl , G. and Bontis , N. 2007 . The impact of voluntary disclosure on cost of equity capital estimates in a temporal setting . Journal of intellectual capital , 8 ( 4 ) : 577 – 594 .
   Google Scholar
• Lang , M. and Lundholm , R. 1993 . Cross-sectional determinants of analyst ratings of corporate disclosures . Journal of accounting research , 31 ( 2 ) : 246 – 271 .
   Web of Science ®Google Scholar
• Lang, M. and Lundholm, R., 1997. Voluntary disclosure during equity offerings: reducing information asymmetry or hyping the stock. Working paper, Ann Arbor, MI: University of Michigan.
   Google Scholar
• Lev , B. 1995 . Disclosure and litigation . California management review , 37 ( 3 ) : 8 – 28 .
   Web of Science ®Google Scholar
• Lev , B. 2001 . Intangibles: management, measurement and reporting , Washington, DC : Brookings Institution Press .
   Google Scholar
• Lev , B. 2004 (June) . Sharpening the intangibles edge . Harvard business review , 82 ( 6 ) : 109 – 116 .
   PubMed Web of Science ®Google Scholar
• Li , J. , Pike , R. and Haniffa , R. 2008 . Intellectual capital disclosure and corporate governance structure in UK firms . Accounting and business research , 38 ( 2 ) : 127 – 159 .
   Web of Science ®Google Scholar
• Lundholm, R. and Van Winkle, M., 2006. Motives for disclosure and non-disclosure: a framework and review of the evidence. Accounting and business research, International Accounting Policy Forum, 36 (special issue), 43–48.
   Google Scholar
• Mangena , M. , Pike , R. and Li , J. 2009 . Intellectual capital disclosure practices and effects on the cost of equity capital: UK evidence , Edinburgh : Institute of Chartered Accountants of Scotland .
   Google Scholar
• Meritum . 2002 . Guidelines for managing and reporting on intangibles , Madrid : Fundaciòn Airtel Mòvil .
   Google Scholar
• Milgrom , P. R. and Roberts , J. 1986 . Relying on the information of interested parties . RAND journal of economics , 17 ( 1 ) : 18 – 32 .
   Web of Science ®Google Scholar
• Oliveira , L. , Rodrigues , L. L. and Craig , R. 2006 . Firm-specific determinants of intangibles reporting: evidence from the Portuguese stock market . Journal of human resource costing and accounting , 10 ( 1 ) : 11 – 33 .
   Google Scholar
• O'Regan , P. , Kennedy , T. , O'Donnell , D. , Bontis , N. and Cleary , P. 2005 . Exploring intellectual capital practice in the Irish ICT sector , London : CIMA .
   Google Scholar
• Patten , D. M. 1991 . Exposure, legitimacy and social disclosure . Journal of accounting and public policy , 10 ( 4 ) : 297 – 308 .
   Web of Science ®Google Scholar
• Piotroski, J.D., 1999. Discretionary segment reporting decisions and the precision of investor beliefs. Working paper, University of Chicago.
   Google Scholar
• Richardson , A. J. and Welker , M. 2001 . Social disclosure, financial disclosure and the cost of equity capital . Accounting, organizations and society , 26 ( 7–8 ) : 597 – 616 .
   Web of Science ®Google Scholar
• Roslender , R. and Fincham , R. 2004 . Intellectual capital accounting in the UK. A field study perspective . Accounting, auditing and accountability journal , 17 ( 2 ) : 178 – 209 .
   Google Scholar
• Schipper , K. 1991 . Commentary on analysts’ forecasts . Accounting horizons , 5 ( 4 ) : 105 – 121 .
   Google Scholar
• Sengupta , P. 1998 . Corporate disclosure quality and the cost of debt . Accounting review , 73 ( 4 ) : 459 – 474 .
   Web of Science ®Google Scholar
• Simon , H. A. 1984 . Models of bounded rationality, volume 1: economic analysis and public policy , Cambridge , MA : MIT Press .
   Google Scholar
• Simsek , Z. , Lubatkin , M. H. , Veiga , J. F. and Dino , R. F. 2009 . The role of an entrepreneurially alert information system in promoting corporate entrepreneurship . Journal of business research , 62 ( 8 ) : 810 – 817 .
   Web of Science ®Google Scholar
• Singh , I. and Van der Zahn , J.-L. W.M. 2007 . Does intellectual capital disclosure reduce an IPO's cost of capital? The case of underpricing . Journal of intellectual capital , 8 ( 3 ) : 494 – 516 .
   Google Scholar
• Skinner , D. 1994 . Why firms voluntarily disclose bad news . Journal of accounting research , 32 ( 1 ) : 38 – 61 .
   Web of Science ®Google Scholar
• Skinner , D. 1997 . Earnings disclosures and stockholder lawsuits . Journal of accounting and economics , 23 ( 3 ) : 249 – 282 .
   Web of Science ®Google Scholar
• STATA . 2007 . STATA statistical software: release 10 – multivariate statistics , College Station , , TX : StataCorp LP .
   Google Scholar
• Stocken , P. C. 2000 . Credibility of voluntary disclosure . The RAND journal of economics , 31 ( 2 ) : 359 – 374 .
   Web of Science ®Google Scholar
• Striukova , L. , Unerman , J. and Guthrie , J. 2008 . Corporate reporting of intellectual capital: evidence from UK companies . British accounting review , 40 ( 4 ) : 297 – 313 .
   Google Scholar
• Tarca , A. , Street , D. L. and Aerts , W. 2011 . Factors affecting MD&A disclosures by SEC registrants: views of practitioners . Journal of international accounting, auditing and taxation , 20 ( 1 ) : 45 – 59 .
   Google Scholar
• Toms , J. S. 2002 . Firm resources, quality signals and the determinants of corporate environmental reputation: some UK evidence . British accounting review , 34 ( 3 ) : 257 – 282 .
   Google Scholar
• Unerman , J. , Guthrie , J. and Striukova , L. 2007 . UK Reporting of intellectual capital , London : ICAEW Centre for Business Performance .
   Google Scholar
• Van der Meer-Kooistra , J. and Zijlstra , S. M. 2001 . Reporting on intellectual capital . Accounting, auditing and accountability journal , 14 ( 4 ) : 456 – 476 .
   Google Scholar
• Verma, S. and Dewe, P., 2004. Valuing human resources. ACCA Research Report No. 83. London: Certified Accountants Educational Trust.
   Google Scholar
• Verrecchia , R. E. 2001 . Essays on disclosure . Journal of accounting and economics , 31 ( 1–3 ) : 97 – 180 .
   Web of Science ®Google Scholar
• White , G. A. , Lee , A. and Tower , G. 2007 . Drivers of voluntary intellectual capital disclosure in listed biotechnology companies . Journal of intellectual capital , 8 ( 3 ) : 517 – 537 .
   Google Scholar
• Womack , K. 1996 . Do brokerage analysts’ recommendations have investment value? . Journal of finance , 51 ( 1 ) : 137 – 166 .
   Web of Science ®Google Scholar