Abstract
The increasing relevance assumed by business combinations (BC) worldwide
and the effects they may produce on acquirers’ performance make financial
disclosure on this issue extremely important. By consequence, identifying
the determinants of BC disclosure have relevant implication for theory
and practice. Using a sample of BC consummated from 2005 to 2008
by Italian listed companies applying IFRS, we analyze the determinants
of BC disclosure quality. The extent of disclosure is measured by
means of three indexes based, respectively, on overall disclosure,
mandatory disclosure and voluntary disclosure. Independent variables
used to explain BC disclosure quality are both “generic” determinants,
such as company size, profitability, leverage, industry type, and
determinants specifically related with BC characteristics, such as
BC relevance and goodwill recognition. Relations are assessed using
both univariate and multivariate analyses. Our findings do not always
support previous literature on factors determining corporate disclosure
level. Both comprehensive and mandatory disclosure quality present
a negative and significant association with profitability, and a
positive and significant association with goodwill recognition. Differently,
voluntary disclosure quality is manly driven by corporate size, leverage
and BC relevance.
Lingua originale | English |
---|---|
Titolo della pubblicazione ospite | European Accounting Association (EAA) Annual Congress |
Pagine | 1-41 |
Numero di pagine | 41 |
Stato di pubblicazione | Pubblicato - 2011 |
Evento | European Accounting Association (EAA) Annual Congress - Roma Durata: 20 apr 2011 → 22 apr 2011 |
Convegno
Convegno | European Accounting Association (EAA) Annual Congress |
---|---|
Città | Roma |
Periodo | 20/4/11 → 22/4/11 |
Keywords
- Business combinations
- IFRS
- disclosure index
- disclosure quality