The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States: an international comparison
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Greenwich, Conn. [u.a.]
Jai Press
1996
|
| Schriftenreihe: | Studies in managerial and financial accounting
4 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | IX, 241 S. |
| ISBN: | 0762301627 |
Internformat
MARC
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| 245 | 1 | 0 | |a The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States |b an international comparison |c by Ray H. Anderson and Marc J. Epstein |
| 264 | 1 | |a Greenwich, Conn. [u.a.] |b Jai Press |c 1996 | |
| 300 | |a IX, 241 S. | ||
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| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Studies in managerial and financial accounting |v 4 | |
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| 650 | 4 | |a Corporation reports |z New Zealand | |
| 650 | 4 | |a Corporation reports |z United States | |
| 650 | 4 | |a Stockholders |z Australia | |
| 650 | 4 | |a Stockholders |z New Zealand | |
| 650 | 4 | |a Stockholders |z United States | |
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| 999 | |a oai:aleph.bib-bvb.de:BVB01-007691732 | ||
Datensatz im Suchindex
| _version_ | 1804125953391067136 |
|---|---|
| adam_text | CONTENTS
1. Introduction 1
Objectives of Financial Reporting 1
SAC 1: Definition of the Reporting Entity 2
SAC 2: Objective of General Purpose Reporting 2
SAC 3: Qualitative Characteristics of Financial Information 3
SAC 4: Definition and Recognition of the Elements of
Financial Statements 4
The Motivation for the Study 8
Organization of the Book 10
2. Prior Evidence on Corporate Annual Reports 13
Individual Investors Approaches to Investing 14
Investor Sources of Information 7 4
Investment Coals 76
The Usefulness of Individual Annual Report Items 16
Why are Annual Reports Not More Useful? 17
Difficulty of Annual Reports 18
Credibility of Annual Reports 7 9
Demand for Additional Disclosure 19
Sophisticated Versus Less Sophisticated Investors 20
Summary 20
3. Research Methodology and the Demographics of the
Corporate Shareholder 23
Research Methodology 24
Methodological Benefits 25
External Validity 28
The Chi square Test for Nonreponse Bias 28
Demographic Results 30
A Comparison of Conclusions 33
Summary 33
4. Investor s Investment Objectives and Their Information Sources 35
Information Sources 35
Usefulness of the Annual Report 37
Difficulty in Understanding the Annual Report 38
Investors Investment Objectives 39
vii
viii / Contents
The Relationship Between Sources of Information and Coals 40
Summary 44
5. The Readership and Usefulness of Corporate Financial Statements 45
Readership of Financial Statements 46
Difficulty of Financial Statements 47
Usefulness of Financial Statements 48
The Relationship Between Usefulness and Readership 49
The Association Between the Usefulness of Financial Statement Items 50
Summary 52
6. The Readership and Usefulness of Nonfinancial Statement Items 53
Chairman s Address 53
Essay and Pictorial 55
Footnotes 57
Summary Annual Reports 58
Director s Report 61
Management s Discussion and Analysis 65
Other Innovations 68
The Relationship Between Usefulness and Readership:
Nonfinancial Statement Itesm 69
Summary 70
7. The Effect of Sophistication on the Use of Annual Reports 71
Is there Really a Difference? Usefulness Versus Sophistication 71
The Usefulness of Annual Reports as a Function of Sophistication 72
Experience 72
% Wealth and Wealth 74
Age 75
Education 75
Summary 76
8. Shareholders Demand for Improved Reporting 77
Demand for Further Explanation 77
Demand for Additional Disclosure 80
Effect of Sophistication on Demand for Disclosure—
Financial Information 85
Improved Disclosure of Nonfinancial Information:
Evidence of a Credibility Cap 87
Effect of Sophistication on Demand for Disclosure—
Nonfinancial Information 91
Summary 91
9. The Expectation Gap and the Auditor 95
Earlier Evidence of a Crowing Investor Expectation Gap 95
Recent Evidence of an Expectation Cap 98
Magnitude and Nature of Auditor Liability Problem 105
Contents / ix
The Legal Origins of Auditors Liability 106
Audit of Financial Statements 114
Shareholders Perceptions of Auditors Responsibilities 117
The Role of Investor Sophistication 120
Summary 126
10. Shareholder Use of the Auditor s Report 129
Readership of Auditor s Reports 129
Usefulness of Auditor s Reports to Investors 134
Understandability and the Need for Additional Explanation 135
Relationship Among Readership, Perceived Usefulness,
Understandability, and the Desire for Additional Explanation 137
Summary 142
11. Shareholder Views on Auditor Independence
and Conflict of Interest 145
Threats to Independence 147
Prior Research on the Effect of Consulting Services on Auditor
Independence 149
Investor Views on Audit Independence 149
Summary 153
12. Shareholder Perceptions of the Financial Reporting
Responsibilities of Auditors, Management,
and the Board of Directors 155
Responsibilities of Auditors, Management, and the Board of Directors 156
Investor Perceptions of Financial Reporting Responsibilities 158
Summary 162
13. The Future of the Corporate Annual Report in Responding
to Shareholders Demand for Accountability 163
Major Findings of This Study 165
The Annual Report Should be User Driven 168
Resistance to Improved Annual Reports 169
Implications for the Design and Content of Corporate Annual Reports 171
Appendix A: Surveying Methods and Results 175
Cover Letters Accompanying the Surveys 177
Questionnaires on the Usefulness of Corporate Annual Reports 194
Appendix B: Chi square Test for Nonresponse Bias 211
References 221
Author Index 229
|
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| isbn | 0762301627 |
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| physical | IX, 241 S. |
| publishDate | 1996 |
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| series | Studies in managerial and financial accounting |
| series2 | Studies in managerial and financial accounting |
| spelling | Anderson, Ray H. Verfasser aut The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison by Ray H. Anderson and Marc J. Epstein Greenwich, Conn. [u.a.] Jai Press 1996 IX, 241 S. txt rdacontent n rdamedia nc rdacarrier Studies in managerial and financial accounting 4 Corporation reports Australia Corporation reports New Zealand Corporation reports United States Stockholders Australia Stockholders New Zealand Stockholders United States Jahresabschluss (DE-588)4162679-5 gnd rswk-swf Informationsgehalt (DE-588)4213883-8 gnd rswk-swf Australien USA Neuseeland (DE-588)4041915-0 gnd rswk-swf Australien (DE-588)4003900-6 gnd rswk-swf USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Jahresabschluss (DE-588)4162679-5 s Informationsgehalt (DE-588)4213883-8 s Australien (DE-588)4003900-6 g Neuseeland (DE-588)4041915-0 g DE-604 Epstein, Marc J. Verfasser (DE-588)132667959 aut Studies in managerial and financial accounting 4 (DE-604)BV009653424 4 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007691732&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Anderson, Ray H. Epstein, Marc J. The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison Studies in managerial and financial accounting Corporation reports Australia Corporation reports New Zealand Corporation reports United States Stockholders Australia Stockholders New Zealand Stockholders United States Jahresabschluss (DE-588)4162679-5 gnd Informationsgehalt (DE-588)4213883-8 gnd |
| subject_GND | (DE-588)4162679-5 (DE-588)4213883-8 (DE-588)4041915-0 (DE-588)4003900-6 (DE-588)4078704-7 |
| title | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison |
| title_auth | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison |
| title_exact_search | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison |
| title_full | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison by Ray H. Anderson and Marc J. Epstein |
| title_fullStr | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison by Ray H. Anderson and Marc J. Epstein |
| title_full_unstemmed | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States an international comparison by Ray H. Anderson and Marc J. Epstein |
| title_short | The usefulness of corporate annual reports to shareholders in Australia, New Zealand, and the United States |
| title_sort | the usefulness of corporate annual reports to shareholders in australia new zealand and the united states an international comparison |
| title_sub | an international comparison |
| topic | Corporation reports Australia Corporation reports New Zealand Corporation reports United States Stockholders Australia Stockholders New Zealand Stockholders United States Jahresabschluss (DE-588)4162679-5 gnd Informationsgehalt (DE-588)4213883-8 gnd |
| topic_facet | Corporation reports Australia Corporation reports New Zealand Corporation reports United States Stockholders Australia Stockholders New Zealand Stockholders United States Jahresabschluss Informationsgehalt Australien USA Neuseeland |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=007691732&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV009653424 |
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