Accounting for Financial Instruments: An Analysis of the Determinants of Disclosure in the Portuguese Stock Exchange

• Type: Article in International Scientific Journal
• Date: 2007

Authors

Patrícia Teixeira Lopes (Author) FEP

Journal

Title: The International Journal of Accounting

Vol. 42 No. 1

Pages: 25-56

ISSN: 0020-7063

Publisher: Elsevier

Scientific classification

FOS: Social sciences > Economics and Business

CORDIS: Social sciences > Economics > Management studies > Administration

Other information

DOI: 10.1016/j.intacc.2006.12.002

Abstract (EN): This paper studies the determinants of disclosure level in the accounting for financial instruments of Portuguese listed companies. An index of disclosure based on IAS 32 and IAS 39 requirements is computed for each company. The analysis includes variables that capture intrinsic features of Portuguese companies and institutional regulatory context, such as capital structure and characteristics of the corporate governance structure, within contingency theory. We could not find any significant influence of corporate governance structure or of financing structure. We conclude that the disclosure degree is significantly related to size, type of auditor, listing status and economic sector. This research reveals areas for improvement of Portuguese companies'' reporting practices and suggests areas for intervention of the Portuguese capital markets regulator in the context of mandatory IAS after 2005.

Language: English

Type (Professor's evaluation): Scientific