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The determinants and value-relevance of voluntary disclosure of supply chain information

The determinants and value-relevance of voluntary disclosure of supply chain information We use the voluntary nature of supply chain information disclosure in China’s stock market, including both major customers and suppliers information, to study the determinants and value relevance of proprietary information voluntary disclosure. Consistent with information asymmetry concern, disclosure is more likely when firms are seeking external finance or operating with a more concentrated supply chain where the needs of reducing information asymmetry are higher. Supply chain disclosure is found to be associated with a lower firm valuation on average. Good corporate governance reduces such voluntary disclosure, further confirming protecting proprietary information is one of the key considerations of non-disclosure. The disclosure of supplier identity is less value relevant than customer identity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Accounting and Business Research Taylor & Francis

The determinants and value-relevance of voluntary disclosure of supply chain information

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Publisher
Taylor & Francis
Copyright
© 2022 Informa UK Limited, trading as Taylor & Francis Group
ISSN
2159-4260
eISSN
0001-4788
DOI
10.1080/00014788.2022.2030668
Publisher site
See Article on Publisher Site

Abstract

We use the voluntary nature of supply chain information disclosure in China’s stock market, including both major customers and suppliers information, to study the determinants and value relevance of proprietary information voluntary disclosure. Consistent with information asymmetry concern, disclosure is more likely when firms are seeking external finance or operating with a more concentrated supply chain where the needs of reducing information asymmetry are higher. Supply chain disclosure is found to be associated with a lower firm valuation on average. Good corporate governance reduces such voluntary disclosure, further confirming protecting proprietary information is one of the key considerations of non-disclosure. The disclosure of supplier identity is less value relevant than customer identity.

Journal

Accounting and Business Research – Taylor & Francis

Published: Jun 7, 2023

Keywords: voluntary disclosure; supply chain; customer; supplier; information asymmetry; proprietary costs; corporate governance

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