ATTITUDE TO THE ROLE OF CORPORATE POWER IN VOLUNTARY DISCLOSURE OF NON-FINANCIAL INFORMATION AND SUSTAINABILITY PERFORMANCE

  • Mehdi Feizi Islamic Azad University
  • Abbas Pour Aghajan Sarhamami Islamic Azad University
  • Seyyed Hossein Nasl Mousavi Islamic Azad University

Resumo

Providing voluntary financial information about identifying, measuring and disclosing accounting items in the financial statements as well as non-financial information attracts investors and contributes effectively to improving the financial position, management face and sustainability of the company. However, executives of insufficient companies may manipulate their financial information to conceal or delay an inappropriate financial situation. Therefore, managers of non-financial corporations are more likely to have a lack of transparency and to avoid disclosing supplementary and voluntary information. In this regard, the present study examined the role of corporate power in voluntary disclosure of non-financial information and corporate sustainability performance. The statistical population of this study included all companies listed in Tehran Stock Exchange from 2008 to 2017 and the sample was selected through systematic elimination from the statistical population. According to the specified conditions, 112 companies were selected as the statistical sample of this study. It is worth noting that the hypotheses were tested by designing multivariate regression models. The results showed that firm strength enhances the direct relationship between voluntary disclosure of non-financial information and its dimensions with firm sustainability performance.

Biografia do Autor

Mehdi Feizi, Islamic Azad University

Ph.D Student, Department of Accounting, Ghaemshahr Branch, Islamic Azad University, Ghaemshahr, Iran.

Abbas Pour Aghajan Sarhamami, Islamic Azad University

Associate Professor, Department of Accounting, Ghaemshahr Branch, Islamic Azad University, Ghaemshahr, Iran.

Seyyed Hossein Nasl Mousavi, Islamic Azad University

Assistant Professor, Department of Accounting, Ghaemshahr Branch, Islamic Azad University, Ghaemshahr, Iran.

Referências

Andrade, G. and Kaplan, S. (1998). How Costly is Financial (Not Economic) Distress? Evidence from Highly Leveraged Transactions that Became Distressed. Journal of Finance, 53 (5), 1443-1493.

Bashiri Manesh, Nazanin and Rahmani, Ali. (2016). Formulating an Optional Disclosure Pattern: A Tool for Management Accounting. Accounting Knowledge and Auditing Management, 5 (19), 27-46.

Brown, D., James, C. and Mooradian, R. (2011). The Information Content of Distressed Restructurings Involving Public and Private Debt Claims. Journal of Financial Economics, 33, 93-118.

Brown, S. and Hillegeist, S.A. (2007). How Disclosere Quality Effects the Level of Information Asymmetry? Spring Science Business Media, 12, 443-477.

Hamidian, Mohsen Hajijah, Zohreh and Taghizadeh, Nafiseh. (2013). The usefulness of voluntary disclosure for investor judgment. Economic Modeling, 11 (40), 137-155.

Healy P, and Palepu, K. (2001). Information asymmetry, corporate disclosure and the capital markets: a review of the empirical disclosure literature. Journal of Accounting & Economics, 31, 405-440.

Healy, P.M. and Whalen, A. (1999). A review of the earning management literature and itsimplication for standard setting. Accounting Horizons, 3 (7), 363-365.

Hung, M., Jing, S. and Wang, Y. (2017). The Effect of Mandatory CSR Disclosure on Information Asymmetry: Evidence from a Quasi-natural Experiment in China. http://www.ssrn.com.

Mechelli, A., Cimini, R. and Mazzocchetti, F. (2017). The usefulness of the business model disclosure for investors’ judgements in financial entities. A European study. Revista de Contabilidad – Spanish Accounting Review, 20 (1), 1–12.

Outecheva, N. (2017). Corporate Financial Distress: An Empirical Analysis of Distress Risk. University of St. Gallen, Graduate School of Business Administration.

Qu, W., Cooper, J., Wise, V. and Leung, P. (2012). Voluntary disclosure in a changing regulatory environment – evidence from Chinese stock market. International Journal of Economics and Finance, 4 (4), 30-43.

Sajjadi, Hussein and the Old Banai, Rahim (2014). Sustainable Performance Management Systems and Indicators. Accounting Research, 15, 69-82.

Sneirson, J.F. (2008). Green is Good: Sustainability, Profitability, and a New Paradigm for Corporate Governance. Iowa Law Review, 94 (3), 20-29.

Publicado
2020-03-16
Edição
v. 7 n. 4 (2020)
Seção
Artigos

A submissão de originais para este periódico implica na transferência, pelos autores, dos direitos de publicação impressa e digital. Os direitos autorais para os artigos publicados são do autor, com direitos do periódico sobre a primeira publicação. Os autores somente poderão utilizar os mesmos resultados em outras publicações indicando claramente este periódico como o meio da publicação original. Em virtude de sermos um periódico de acesso aberto, permite-se o uso gratuito dos artigos em aplicações educacionais, científicas, não comerciais, desde que citada a fonte (por favor, veja a Licença Creative Commons no rodapé desta página).