Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

A grounded theory of corporate disclosure

A grounded theory of corporate disclosure Abstract This paper outlines a grounded theory of corporate disclosure comprising, disclosure choices, the story of value creation and intangibles, managerial optimism and opportunism, benchmarking, and of continuous corporate interaction with stock and information markets. The disclosure activity led to cumulative corporate learning about perceived market outcomes and their ‘fragility’. This was reinforced by fund managers during subsequent one to one meetings. The interaction and learning fed back into cumulative corporate understandings and experiences (priors) of their disclosure behaviour which then became drivers of subsequent disclosure. These interactions and the corporate responses revealed the dynamic element to corporate disclosure behaviour. The emphasis on choice, private disclosure, knowledge intensive intangibles, stories, benchmarking, feedback, learning, outcomes, response and many other elements in the theory are interpreted as tentative means to deal with a new enhanced information asymmetry which can be considered to be at the heart of the disclosure and valuation crises observed in financial markets in the period 1997–2003. The research was conducted through case interview field work in 25 large UK companies during 2000 and use was made of archival sources. A grounded theory approach was employed in processing the data. The results were discussed relative to relevant literature and to previous grounded theory of corporate disclosure behaviour. Areas for further research were identified. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Accounting and Business Research Taylor & Francis

A grounded theory of corporate disclosure

Accounting and Business Research , Volume 35 (3): 19 – Sep 1, 2005
19 pages

Loading next page...
 
/lp/taylor-francis/a-grounded-theory-of-corporate-disclosure-eXhW1lIoDQ

References (38)

Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
2159-4260
eISSN
0001-4788
DOI
10.1080/00014788.2005.9729990
Publisher site
See Article on Publisher Site

Abstract

Abstract This paper outlines a grounded theory of corporate disclosure comprising, disclosure choices, the story of value creation and intangibles, managerial optimism and opportunism, benchmarking, and of continuous corporate interaction with stock and information markets. The disclosure activity led to cumulative corporate learning about perceived market outcomes and their ‘fragility’. This was reinforced by fund managers during subsequent one to one meetings. The interaction and learning fed back into cumulative corporate understandings and experiences (priors) of their disclosure behaviour which then became drivers of subsequent disclosure. These interactions and the corporate responses revealed the dynamic element to corporate disclosure behaviour. The emphasis on choice, private disclosure, knowledge intensive intangibles, stories, benchmarking, feedback, learning, outcomes, response and many other elements in the theory are interpreted as tentative means to deal with a new enhanced information asymmetry which can be considered to be at the heart of the disclosure and valuation crises observed in financial markets in the period 1997–2003. The research was conducted through case interview field work in 25 large UK companies during 2000 and use was made of archival sources. A grounded theory approach was employed in processing the data. The results were discussed relative to relevant literature and to previous grounded theory of corporate disclosure behaviour. Areas for further research were identified.

Journal

Accounting and Business ResearchTaylor & Francis

Published: Sep 1, 2005

There are no references for this article.