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Do better governed Australian firms make more informative disclosures?

Brown, P and Beekes, W A (2005) Do better governed Australian firms make more informative disclosures? Working Paper. The Department of Accounting and Finance, Lancaster University.

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Abstract

We investigate whether and if so, how, corporate governance "quality" is related to the information flows from a company and how the stock market and its agents respond. Specifically, we study links between the "quality" of a firm’s corporate governance (CGQ) and the informativeness of its disclosures. We employ a novel, intra-year "timeliness" metric, in the spirit of Ball and Brown (1968) and Brown et al. (1999), to capture the average speed of price discovery throughout the year. Our results suggest that the answer to our question is "Yes": better-governed firms do make more informative disclosures.

Item Type: Monograph (Working Paper)
Uncontrolled Keywords: corporate governance quality ; disclosure frequency ; analysts’ forecasts ; price discovery ; timeliness
Subjects: UNSPECIFIED
Departments: Lancaster University Management School > Accounting & Finance
ID Code: 48756
Deposited By: ep_importer_pure
Deposited On: 11 Jul 2011 22:10
Refereed?: No
Published?: Published
Last Modified: 17 Sep 2013 18:26
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/48756

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