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Management : Journal of Contemporary Management Issues, Vol. 27 No. 1, 2022.

Preliminary communication

https://doi.org/10.30924/mjcmi.27.1.16

Factors influencing the disclosure of additional financial and non-financial information by large enterprises

Ana Rep orcid id orcid.org/0000-0003-0769-6656 ; Faculty of Economics and Business, University of Zagreb
Sanja Sever Mališ ; Faculty of Economics and Business, University of Zagreb
Kosjenka Dumančić ; Faculty of Economics and Business, University of Zagreb

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Abstract

Nowadays, more than ever, stakeholders are demanding that additional information are disclosed in addition to financial information as part of corporate reporting. This need is being recognized by regulators, who have begun to enact laws requiring large companies to disclose at least the required information and financial information. This study aims to examine some of the possible company characteristics that may influence the extent of information disclosure, particularly the direction of their influence and significance. The study was conducted on twenty (23.53%) listed companies operating in the real sector (non-financial sector) on the Zagreb Stock Exchange. Initially, the content analysis method was used to analyze the reports. In addition, multilinear regression was conducted to measure the influence of specific company characteristics. The research results revealed that the type of auditor, ownership structure, and size of the board of directors have a statistically significant positive influence on the quality of published financial and non-financial information. In contrast, the quotation days have a negative but not statistically significant influence at the 5% significance level. Finally, even though the overall results regarding the disclosure quality can be interpreted as satisfactory, there is room for further improvement regarding financial and non-financial reporting transparency.

Keywords

European regulation; NonFinancial Reporting Directive; financial and nonfinancial disclosure; information and reporting quality; Croatia

Hrčak ID:

279194

URI

https://hrcak.srce.hr/279194

Publication date:

28.6.2022.

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