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Determinants and value relevance of corporate disclosure

Author

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  • Godfred A. Bokpin

Abstract

Purpose - – The purpose of this paper is to document the determinants and value relevance of corporate disclosure and transparency on the Ghana Stock Exchange (GSE). Design/methodology/approach - – The paper employs the Fama and French model by relating firm value to firm level characteristics, with a sample of 27 firms on the GSE over a six-year period (2003-2008) Findings - – The author found positive though statistically insignificant relationship between corporate disclosure and firm value represented by market to book value ratio and negative for stock price. Consistent with the political cost, signalling, agency and economic theories of corporate disclosure, the author found firm size, financial leverage, audit quality, age and profitability to be significant firm level characteristics determining corporate disclosure in Ghana. Though the adoption of IFRS is significant, it has marginally improved disclosure, though perhaps it is observed more in breach than in compliance and practical steps must be taken to improve disclosure practice on the GSE. Originality/value - – The main value of the paper lies in providing further evidence of the value relevance and determinants of corporate disclosure using emerging data.

Suggested Citation

  • Godfred A. Bokpin, 2013. "Determinants and value relevance of corporate disclosure," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 14(2), pages 127-146, September.
    • Handle: RePEc:eme:jaarpp:v:14:y:2013:i:2:p:127-146
    DOI: 10.1108/09675421311291883
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    Cited by:

    1. Agnieszka Piechocka-Kaluzna & Agnieszka Tluczak & Pawel Lopatka, 2021. "The Impact of CSR/ESG Reporting on the Cost of Capital: An Example of US Healthcare Entities," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 679-690.
    2. Jean-François Casta & Alioune Badara Mbengue, 2016. "De la pertinence informationnelle des chiffres comptables publiés par les sociétés cotées sur les Bourses d'Afrique de l'Ouest (B.R.V.M et Ghana Stock Exchange)," Post-Print hal-01902539, HAL.

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