Determinants of voluntary disclosure in Swedish corporate annual reports
Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
This study examines if three hypothesized variables affect the extent of corporate strategic information, i.e. voluntary information, in corporate annual reports, specifically in Sweden in the year of 2012. The variables deemed appropriate to the Swedish environment, i.e. firm size, ownership dispersion and performance, were retrieved from previous disclosure research conducted in a Swedish context (Cook, 1989; Adrem, 1999), as well as relevant theoretical consideration.
The statistical analysis conducted in this thesis suggests that firm size is significantly positively related to the extent of strategic corporate information in Swedish listed firms’ corporate annual reports. The result hence confirms the expectation that larger listed firms to a larger extent disclose strategic corporate information, i.e. voluntary information, in their corporate annual reports. No positive relation was found between the variables performance or ownership dispersion and the extent of strategic corporate information.
The results of this thesis are interpreted to suggest that asymmetric information and agency costs are important determinants of the extent of strategic corporate information, i.e. voluntary information, in Swedish corporate annual reports. Larger firms seem to reduce agency costs and narrow the information asymmetry by increasing the level of information disclosed.
Place, publisher, year, edition, pages
2014. , 47 p.
Annual report; Voluntary disclosure; Corporate Strategic Information; Internal firm characteristics; Asymmetric information; The principal-agent problem
IdentifiersURN: urn:nbn:se:uu:diva-230442OAI: oai:DiVA.org:uu-230442DiVA: diva2:740652
Subject / course
Master Programme in Business and Management
Gebert Persson, Sabine