Corporate E Governance Disclosure In The Digital Age
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Corporate E Governance Disclosure In The Digital Age
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Author : Juan L. Gandía
language : en
Publisher:
Release Date : 2008
Corporate E Governance Disclosure In The Digital Age written by Juan L. Gandía and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Corporate governance research has focused mainly on the analysis of the information that firms ought to disclose and the effects of disclosure, basically without considering the media involved. This paper examines the relevance of technology, and particularly the internet, for the improvement of corporate governance and transparency in listed companies. The need for this study is clear in view of the increasing interest shown by supervisory authorities for the oversight of the European and US capital markets in regulating not only content but also the manner in which corporate governance information is disclosed over the internet. In this paper we have quantified three corporate governance transparency indexes and empirically identified the variables that explain the levels of disclosure attained. Our results reveal that the firms scoring highest in terms of transparency are also those that are most likely to use the internet as a channel for the disclosure of corporate governance information. Key factors underlying the levels of transparency observed include the degree to which firms are followed by analyst, the time they have been listed, their visibility and the fact of belonging to the communications and information services sector.
Effective Company Disclosure In The Digital Age
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Author : Gill North
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2015-10-16
Effective Company Disclosure In The Digital Age written by Gill North and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-16 with Law categories.
Effective corporate reporting and disclosure are critical in financial markets to promote vigorous competition, optimal performance, and transparency. This book examines whether existing disclosure frameworks in eight countries with the world's most significant securities exchanges achieve these objectives, and then, drawing on extensive empirical findings, identifies the policies and practices that contribute most to improving the overall quality of listed company reporting and communication. Contending that public disclosure of listed company information is an essential precondition to the long-term efficient operation of financial markets, the book provides analysis of such issues and topics as the following: - arguments for and against mandatory disclosure regimes; - key principles of periodic and continuous disclosure regulation; - tensions between direct and indirect investment in financial markets; - assumptions concerning the need to maintain a privileged role for financial intermediaries; - intermediary, analyst, and research incentives; - protection of individual investors; - selective disclosure; - disclosure of bad news; - the role of accounting standards; - public access to company briefings; - long term performance reporting and analysis; and - company reporting developments. A significant portion of the book provides an overview of disclosure regulation and practice in the United States, Canada, Germany, the United Kingdom, Japan, Hong Kong, Australia, and Singapore. A highly informative survey looks at company reports, disclosures, and websites of large listed companies, including Microsoft, Citigroup, Teck Resources, Deutsche Bank, BP, Sony, PetroChina Company, BHP Billiton, and Singapore Telecommunications. The book discusses common disclosure issues that arise across jurisdictions, provides valuable insights on the efficacy of existing disclosure regulation and practice, and highlights the important principles, processes, and practices that underpin best practice company disclosure frameworks. It will be welcomed by company boards and executives and their counsel, as well as by policymakers and scholars in the areas of corporate, securities, banking and financial law, accounting, economics and finance.
Engaging Privacy And Information Technology In A Digital Age
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Author : National Research Council
language : en
Publisher: National Academies Press
Release Date : 2007-06-28
Engaging Privacy And Information Technology In A Digital Age written by National Research Council and has been published by National Academies Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-06-28 with Computers categories.
Privacy is a growing concern in the United States and around the world. The spread of the Internet and the seemingly boundaryless options for collecting, saving, sharing, and comparing information trigger consumer worries. Online practices of business and government agencies may present new ways to compromise privacy, and e-commerce and technologies that make a wide range of personal information available to anyone with a Web browser only begin to hint at the possibilities for inappropriate or unwarranted intrusion into our personal lives. Engaging Privacy and Information Technology in a Digital Age presents a comprehensive and multidisciplinary examination of privacy in the information age. It explores such important concepts as how the threats to privacy evolving, how can privacy be protected and how society can balance the interests of individuals, businesses and government in ways that promote privacy reasonably and effectively? This book seeks to raise awareness of the web of connectedness among the actions one takes and the privacy policies that are enacted, and provides a variety of tools and concepts with which debates over privacy can be more fruitfully engaged. Engaging Privacy and Information Technology in a Digital Age focuses on three major components affecting notions, perceptions, and expectations of privacy: technological change, societal shifts, and circumstantial discontinuities. This book will be of special interest to anyone interested in understanding why privacy issues are often so intractable.
Determinants Of Voluntary Disclosure Of Financial Information On The Internet By Brazilian Firms
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Author : Wesley Mendes-Da-Silva
language : en
Publisher:
Release Date : 2014
Determinants Of Voluntary Disclosure Of Financial Information On The Internet By Brazilian Firms written by Wesley Mendes-Da-Silva and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Disclosure transparency is one of the pillars of good corporate governance. Moreover, the digital age has produced a dramatic shift in the corporate communication paradigm. As a result, companies increasingly use the Internet as an investor relations medium and a vehicle to disseminate financial information to capital markets. This paper examines the determinants of voluntary disclosure of financial information on the Internet by Brazilian firms. Cross-sectional analyses based on 291 non-financial companies listed on the Sao Paulo Stock Exchange in 2002 suggest that firm size and lower annual stock returns are associated with higher levels of voluntary financial information disclosure on corporate websites. These results are consistent with the notion that Brazilian firms (1) under public scrutiny or (2) that are performing poorly are more likely to disclose financial information on corporate websites.
Intellectual Privacy
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Author : Neil Richards
language : en
Publisher: Oxford University Press
Release Date : 2015-01-02
Intellectual Privacy written by Neil Richards and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-02 with Law categories.
Most people believe that the right to privacy is inherently at odds with the right to free speech. Courts all over the world have struggled with how to reconcile the problems of media gossip with our commitment to free and open public debate for over a century. The rise of the Internet has made this problem more urgent. We live in an age of corporate and government surveillance of our lives. And our free speech culture has created an anything-goes environment on the web, where offensive and hurtful speech about others is rife. How should we think about the problems of privacy and free speech? In Intellectual Privacy, Neil Richards offers a different solution, one that ensures that our ideas and values keep pace with our technologies. Because of the importance of free speech to free and open societies, he argues that when privacy and free speech truly conflict, free speech should almost always win. Only when disclosures of truly horrible information are made (such as sex tapes) should privacy be able to trump our commitment to free expression. But in sharp contrast to conventional wisdom, Richards argues that speech and privacy are only rarely in conflict. America's obsession with celebrity culture has blinded us to more important aspects of how privacy and speech fit together. Celebrity gossip might be a price we pay for a free press, but the privacy of ordinary people need not be. True invasions of privacy like peeping toms or electronic surveillance will rarely merit protection as free speech. And critically, Richards shows how most of the law we enact to protect online privacy pose no serious burden to public debate, and how protecting the privacy of our data is not censorship. More fundamentally, Richards shows how privacy and free speech are often essential to each other. He explains the importance of 'intellectual privacy,' protection from surveillance or interference when we are engaged in the processes of generating ideas - thinking, reading, and speaking with confidantes before our ideas are ready for public consumption. In our digital age, in which we increasingly communicate, read, and think with the help of technologies that track us, increased protection for intellectual privacy has become an imperative. What we must do, then, is to worry less about barring tabloid gossip, and worry much more about corporate and government surveillance into the minds, conversations, reading habits, and political beliefs of ordinary people. A timely and provocative book on a subject that affects us all, Intellectual Privacy will radically reshape the debate about privacy and free speech in our digital age.
Corporate Disclosure In The Internet Age
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Author : Peter J. Wallison
language : en
Publisher:
Release Date : 2015
Corporate Disclosure In The Internet Age written by Peter J. Wallison and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
Put aside the wild daily swings in the market for a moment and concentrate on this key fact: the ratio of market values to book values of S&P 500 companies has ascended from one-to-one in the late 1970s to six-to-one today. For some, this reflects excessive speculation, an unsustainable bubble. But a better explanation may be that during this period the source of value creation in our economy moved from tangible to intangible assets, from hardware to software-literally, from bricks and mortar to brains. A transition this significant requires big changes in the legal and regulatory framework in which the economy functions. Significant modernization has occurred in the frameworks applicable to financial services and telecommunications. Yet, suprisingly, as the information age has advanced and balance sheets have become less relevant as measure of true value, there has been relatively little change in the regulatory requirements for disclosure, including the contents of the financial statements that form the heart of our corporate disclosure system. The growing gap between balance sheet and market values tells us that we will need something different in the future, as more and more companies earn their profits from intangible assets. Failure to properly value intangibles can result in distorted valuation, volatility and, perhaps, a bubble. So what is to be done? First, the existing model for financial disclosure must be updated so that it does a better job of reflecting the value of the intangibles that are the core assets of the information economy. Investors will be best served if all assets -tangible and intangible-are measured and reported, even if the value of some intangibles can only be communicated through indicators. Such an indicator could consist of a company's product returns, for example. In addition, financial reporting must be forward-looking, describing not only historical cost, but providing as accurate a snapshot as possible of an organization's current operations and likely future prospects. In part, this can be done through business releasing non-financial data that can be analyzed against the data of competitors and industry benchmarks. To achieve these objectives, a number of prominent analysts and accounting theorists have suggested that companies supplement their current financial reports with databases, accessible through the internet, These would contain more finely grained components of the current asset, liability and expense categories than the information aggregated in conventional quarterly and annual reports. Other useful data elements would include indicators from which the status of such intangibles as customer loyalty and employee satisfaction might be derived. The number of times a customer makes purchases of a household item from a particular company is a clear example. Work is already under way in many industries to settle only the precise definitions of various data elements that would be used for electronic data interchange, This work uses a new data processing language known as extensible markup language (XML) that permits the tagging of the multiplicity of data elements that are part of the movement of goods in a supply chain. The tags allow software applications of various kinds to dip into this pool of data and extract the information necessary for carrying on business transactions in t a common language. When applied to financial information, it would permit more rapid and thorough analysis and benchmarking, Most important, it would permit assessments of company prospects to become user-driven, rather than issue-driven. But a framework is clearly necessary to achieve this. We need a reliable model encouraged by regulators but user and market-driven, and developed by analysts, corporate financial officers and the accounting profession. As new approaches to disclosure take hold-such as the recent and unconventional release of customer acquisition costs by Amazon.com-the role of accountants will change. Instead of certifying financial statements, accountants may work on defining data elements providing assurance for the reliability of company data disclosures. In addition, as US and international accounting standard converge, accountants may acquire responsibility for reporting on the reliability of indicators used to measure the intangible assets-such as those that increasingly represent the core value of may companies. The US economy continues to spawn innovative companies and new ideas. It would be ironic if the capital markets, which supply the necessary financing for innovation and change, were unable to benefit from the vast improvements in information use that the internet has made possible.
Digital Era Governance
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Author : Patrick Dunleavy
language : en
Publisher: OUP Oxford
Release Date : 2008-06-19
Digital Era Governance written by Patrick Dunleavy and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-19 with Business & Economics categories.
Government information systems are big business (costing over 1 per cent of GDP a year). They are critical to all aspects of public policy and governmental operations. Governments spend billions on them - for instance, the UK alone commits £14 billion a year to public sector IT operations. Yet governments do not generally develop or run their own systems, instead relying on private sector computer services providers to run large, long-run contracts to provide IT. Some of the biggest companies in the world (IBM, EDS, Lockheed Martin, etc) have made this a core market. The book shows how governments in some countries (the USA, Canada and Netherlands) have maintained much more effective policies than others (in the UK, Japan and Australia). It shows how public managers need to retain and develop their own IT expertise and to carefully maintain well-contested markets if they are to deliver value for money in their dealings with the very powerful global IT industry. This book describes how a critical aspect of the modern state is managed, or in some cases mismanaged. It will be vital reading for public managers, IT professionals, and business executives alike, as well as for students of modern government, business, and information studies.
Determinants Of Internet Based Corporate Governance Disclosure By Spanish Listed Companies
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Author : Juan L. Gandía
language : en
Publisher:
Release Date : 2014
Determinants Of Internet Based Corporate Governance Disclosure By Spanish Listed Companies written by Juan L. Gandía and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Purpose - The purpose of this paper is to analyse the corporate governance information disclosed by Spanish listed companies on the internet, with the objective of assessing the extent and the influence of several corporate characteristics on the level of information voluntarily disclosed.Design/methodology/approach - The study took as its reference the existing literature on the examination of the quality of web sites and the importance of content as a key variable in determining web site quality. To quantify the corporate governance information disclosed by Spanish listed companies, three transparency indexes were designed. To contrast which variables determine the information provided online, the investigation based itself on studies about voluntary disclosure in companies, and three lineal regressions models and an ANOVA analysis were performed.Findings - The empirical evidence obtained reveals that the firms that score highest for transparency are also those that are most likely to use the internet as a channel for the disclosure of corporate governance information. The results show that disclosure levels depend on the degree to which firms are followed by analysts, their listing age, their quot;visibilityquot; and the fact of belonging to the communications and information services industry.Practical implications - The need for this study was clear in view of the increasing interest shown by supervisory authorities for the oversight of the European and US capital markets in regulating not only the content but also the manner in which corporate governance information is disclosed over the internet. During the coming years, regulatory stock market agencies will have to strive to take advantage of the opportunities that the internet offers to increase both the relational and informational capacity of company web sites.Originality/value - Corporate governance research has focused mainly on the analysis of the information that firms ought to disclose and the effects of disclosure generally, without considering the media involved. This paper suggests a new approach that examines the relevance of technology, particularly the internet, and orients supervisory authorities in the direction to follow for improving corporate governance transparency in listed companies.
Guidance On Good Practices In Corporate Governance Disclosure
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Author : United Nations Conference on Trade and Development
language : en
Publisher: United Nations Publications
Release Date : 2006
Guidance On Good Practices In Corporate Governance Disclosure written by United Nations Conference on Trade and Development and has been published by United Nations Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business & Economics categories.
This publication highlights good practice in corporate governance transparency and reporting, with a view to assisting developing countries and countries with economies in transition to identify and implement good corporate governance disclosure practices relevant to most business enterprises. It draws on recommendations made in guidelines produced by the OECD and the International Corporate Governance Network (ICGN), as well as past International Standards of Accounting and Reporting (ISAR) conclusions. This publication is an updated version of the UNCTAD 2002 report "Transparency and disclosure requirements for corporate governance" (TD/B/COM.2/ISAR/15).
From Government To E Governance Public Administration In The Digital Age
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Author : Islam, Muhammad Muinul
language : en
Publisher: IGI Global
Release Date : 2012-07-31
From Government To E Governance Public Administration In The Digital Age written by Islam, Muhammad Muinul and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-07-31 with Political Science categories.
From Government to E-Governance: Public Administration in the Digital Age will aim to provide relevant theoretical frameworks, past experiences, and the latest empirical research findings in the area of public administration systems that existed in earlier civilizations, as well as e-governance-introduced modern times. The target audience of this book will be composed of academics, students, civil servants, researchers, and policy advisors teaching and studying public administration and public policy, thinking to bring administrative reforms and working in government.