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Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Evaluating Disclosure Theory using the Views of UK Finance Directors in the Intellectual Capital Context
Author(s): Beattie, Vivien
Smith, Sarah Jane
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Keywords: disclosure theory
intellectual capital
questionnaire survey
voluntary disclosure
Issue Date: Dec-2012
Date Deposited: 10-Apr-2013
Citation: Beattie V & Smith SJ (2012) Evaluating Disclosure Theory using the Views of UK Finance Directors in the Intellectual Capital Context. Accounting and Business Research, 42 (5), pp. 471-494.
Abstract: In contrast to most prior research in this area, which focuses on actual disclosures, this study uses a large-scale direct method to investigate the factors that a key preparer group believes influence intellectual capital (IC) disclosure decisions. IC disclosures are typically characterised by uncertainty of interpretation and high levels of commercial sensitivity. A questionnaire elicits 93 UK-listed company finance directors' views regarding the influences on these decisions. Results are used to evaluate the relative explanatory power of several theoretical and practical reasons for disclosure. Strongest support is found for competitive disadvantage and capital market considerations. Issues related to legitimacy theory, stakeholder theory and other economic disclosure costs also feature. Factor analysis reduces the set of 28 incentives and disincentives to 10 uncorrelated dimensions, indicating that a broad and complex set of overlapping factors affect the disclosure decision. The importance of disclosure incentives and disincentives is found to vary both within and between disclosure topics, which may explain the variation in findings in prior research.
DOI Link: 10.1080/00014788.2012.668468
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