In Britain, private firms must disclose their financial statements publicly. However, medium-sized private firms have the option to withhold information from competitors by filing abbreviated profit and loss accounts. Using survey data on managers' perceptions of product market competition, we examine the determinants of the decision to voluntarily disclose. We find that firms are less likely to disclose if they: (1) have more existing competitors, (2) face a greater threat of entry by new rivals, (3) have higher price elasticities of demand, (4) operate in less concentrated industries, or (5) are more profitable.
Speaker: | Dr Clive S LENNOX Associate Professor, Hong Kong University of Science and Technology |
When: |
2.00 pm - 3.30 pm |
Venue: | School of Accountancy [Map] Level 4, Meeting Room 4.1 |
Contact: | Office of the Dean Email: SOAR@smu.edu.sg |