The shareholder's use of corporate annual reports:
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Greenwich, Conn. u.a.
JAI Press
1993
|
| Schriftenreihe: | Studies in managerial and financial accounting
2 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XIV, 189 S. Ill. |
| ISBN: | 1559385626 |
Internformat
MARC
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Datensatz im Suchindex
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|---|---|
| adam_text | CONTENTS
Introduction xi
Marc I. Epstein and Moses L. Pava
1. Corporate Communications With the Individual Investor 1
Communicating With the Shareholder 3
The Motivation for the Study 5
Organization of the Book 7
An Improved Annual Report Can Help Bridge the
Expectations Cap 10
2. The Objectives of Financial Reporting 13
The Attempt to Articulate Accounting Principles and
Objectives 14
Standard Setting in a Political Environment 18
U.S. Congress and Its Role 19
Establishment of the SEC 21
FASB: Meeting the Needs of Stakeholders 22
Summary 25
3. Prior Evidence On the Effectiveness of the Annual Report 27
Individual Investors Approach to Investing 28
Investor Sources of Information 29
Investment Coals 31
The Usefulness of Individual Annual Report Items 32
Why Are Annual Reports Not More Useful? 34
Difficulty of Annual Reports 34
Credibility of Annual Reports 36
Demand for Additional Disclosure 39
Sophisticated Versus Less Sophisticated Investors 41
Perceived Changes in the Usefulness of Annual
Reports Over Time 41
Summary of Results 42
vii
viii / Contents
4. The Limitations of Market Based Research 45
Market Based Studies: The Case of the Statement
of Cash Flows 48
EMH: Reconsidering Its Implications 52
A Brief Euphoric Period 53
Implications 57
Conclusion 58
5. Research Methodology and the
Demographics of the Corporate Shareholder 59
Research Methodology 60
Methodological Benefits 61
External Validity 63
The Chi Square Test for Nonresponse Bias 63
Demographics Results 65
A Comparison of Conclusions 68
Summary 69
6. The Shareholder s Approach to Investment
Decision Making 71
Major Changes in Investors Information Sources 72
Increasing Self Reliance: Some Possible Clues 74
Annual Reports are Less Difficuult to Understand 74
Changing Role of Stockbrokers 74
Investors Coals: The Long Run Perspective 76
Sources of Information and Goals: Is There a
Relationship? 76
Summary 79
7. The Readership and Usefulness of Corporate
Financial Statements 81
Readership of Financial Statements 82
Difficulty of Financial Statements 82
Ussefulness of Financial Statements 84
The Relationship Between Usefulness and
Readership 85
The Association Between the Usefulness of
Financial Statement Items 88
Summary 90
8. The Readership and Usefulness of Nonfinancial
Statement Items 91
President s Letter 91
Essay and Pictorial 93
Footnotes 94
Auditor s Report 95
Summary Annual Report (SAR) 97
Management Discussion and Analysis Section (MD A) 99
Contents I ix
Other Innovations 104
The Association Among Annual Report Items 104
The Relationship Between Usefulness and
Readership: Nonfinancial Statement Items 107
Summary 108
9. The Effect of Sophistication on the Use of Annual Reports 111
Is There Really a Difference? Usefulness
Versus Sophistication 111
The Usefulness of Annual Reports as a Function
of Sophistication 113
Experience 113
% Wealth and Wealth 114
Age 115
Education 117
A Comparison to 1973 Results 117
Summary 118
10. The Shareholder s Demand for Improved Reporting 121
Demand for Further Explanation 121
Demand for Additional Disclosure 124
Effect of Sophistication on Demand for
Disclosure—Financial Information 127
Improved Disclosure of Nonfinancial Information:
Evidence of a Credibility Cap 129
Effect of Sophistication on Demand for
Disclosure—Nonfinancial Information 133
What Do the Data Tell Us?—Summary 133
11. The Future of the Corporate Annual Report in Responding
to the Shareholder s Demand for Accountability 135
Major Findings of this Study 137
The Liability Explosion 138
The Annual Report Should Be User Driven 140
The Resistance to Improved Annual Reports 142
The Implications for the Design and Content of
Corporate Annual Reports 143
Appendix A: Surveying Method and Results 147
Cover Letters Accompanying Survey 148
Questionnaire on Usefulness of Corporate Annual Reports 150
Appendix B:
Further Discussion of Research Methodology and Statistical Analysis 163
Stephen A Book
Understanding Individual Shareholder Preferences:
Methodological Considerations 163
x / Contents
A Method to Gather Information About Individual
Investors 164
Comparison of Survey Methodologies 165
Limitations of Survey Research 166
Test of Nonresponse Bias 168
Comparisons of Readership and Usefulness 173
References 177
Author Index 187
|
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| dewey-full | 658.15/12 |
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| dewey-ones | 658 - General management |
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| id | DE-604.BV009653456 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T17:38:38Z |
| institution | BVB |
| isbn | 1559385626 |
| language | English |
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| publishDate | 1993 |
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| publisher | JAI Press |
| record_format | marc |
| series | Studies in managerial and financial accounting |
| series2 | Studies in managerial and financial accounting |
| spelling | Epstein, Marc J. Verfasser (DE-588)132667959 aut The shareholder's use of corporate annual reports by Marc J. Epstein and Moses L. Pava Greenwich, Conn. u.a. JAI Press 1993 XIV, 189 S. Ill. txt rdacontent n rdamedia nc rdacarrier Studies in managerial and financial accounting 2 Aandeelhouders gtt Financiële verslaglegging gtt Corporation reports Stockholders United States Aktionär (DE-588)4000947-6 gnd rswk-swf Jahresabschluss (DE-588)4162679-5 gnd rswk-swf USA USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Jahresabschluss (DE-588)4162679-5 s Aktionär (DE-588)4000947-6 s DE-604 Pava, Moses L. Verfasser aut Studies in managerial and financial accounting 2 (DE-604)BV009653424 2 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006382762&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Epstein, Marc J. Pava, Moses L. The shareholder's use of corporate annual reports Studies in managerial and financial accounting Aandeelhouders gtt Financiële verslaglegging gtt Corporation reports Stockholders United States Aktionär (DE-588)4000947-6 gnd Jahresabschluss (DE-588)4162679-5 gnd |
| subject_GND | (DE-588)4000947-6 (DE-588)4162679-5 (DE-588)4078704-7 |
| title | The shareholder's use of corporate annual reports |
| title_auth | The shareholder's use of corporate annual reports |
| title_exact_search | The shareholder's use of corporate annual reports |
| title_full | The shareholder's use of corporate annual reports by Marc J. Epstein and Moses L. Pava |
| title_fullStr | The shareholder's use of corporate annual reports by Marc J. Epstein and Moses L. Pava |
| title_full_unstemmed | The shareholder's use of corporate annual reports by Marc J. Epstein and Moses L. Pava |
| title_short | The shareholder's use of corporate annual reports |
| title_sort | the shareholder s use of corporate annual reports |
| topic | Aandeelhouders gtt Financiële verslaglegging gtt Corporation reports Stockholders United States Aktionär (DE-588)4000947-6 gnd Jahresabschluss (DE-588)4162679-5 gnd |
| topic_facet | Aandeelhouders Financiële verslaglegging Corporation reports Stockholders United States Aktionär Jahresabschluss USA |
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