Timeliness of financial reporting: applicability of disclosure theories in an emerging capital market

S. Leventis, P. Weetman

Research output: Contribution to journalArticle

71 Citations (Scopus)

Abstract

This study examines the timeliness with which financial statements are issued by companies in an emerging capital market (Greece). We find that, while all companies meet the regulatory deadline, there is a wide variation between the financial year end and the date of first issue of the financial statements. Significant factors identified by regression analysis are linked to disclosure theories of proprietary costs (using surrogate variables of barriers to entry and industry competition), information cost savings (using surrogate variables of trading volume and public issue) and relative good news or bad news (using surrogate variables of comment in the audit report, and annual change in return on equity). Our results support the predictions of Diamond (1985) and Verrecchia (1983, 1990).
LanguageEnglish
Pages43-56
Number of pages13
JournalAccounting and Business Research
Volume34
Issue number1
Publication statusPublished - 2004

Fingerprint

Timeliness
Emerging capital markets
Disclosure
Financial reporting
News
Financial statements
Information costs
Audit reports
Industry competition
Diamond
Factors
Regression analysis
Trading volume
Prediction
Barriers to entry
Return on equity
Deadline
Proprietary costs
Cost savings
Greece

Keywords

  • statistical analysis
  • studies
  • regression analysis
  • capital markets
  • financial statements
  • disclosure

Cite this

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Timeliness of financial reporting: applicability of disclosure theories in an emerging capital market. / Leventis, S.; Weetman, P.

In: Accounting and Business Research, Vol. 34, No. 1, 2004, p. 43-56.

Research output: Contribution to journalArticle

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