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Financial statement informativeness and intellectual capital disclosure

Author

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  • Anis Maaloul
  • Daniel Zéghal

Abstract

Purpose - – The purpose of this paper is to analyse the relationship between financial statement informativeness (FSI) and intellectual capital disclosure (ICD). Design/methodology/approach - – While FSI was measured as the explanatory power of financial information in explaining market value, ICD was collected through content analysis of annual reports. A sample of 126 US companies, divided into two groups – high-tech and low-tech companies – were used in this study. Empirical analysis was carried out using the Poisson regression method. Findings - – The results show a negative (substitutive) relationship between FSI and ICD, especially in high-tech companies. This indicates that companies with low FSI disclose more information about their IC in annual reports. Practical implications - – This study confirms the role of voluntary ICD as a solution towards mitigating the problem of the distortion of financial information due to the lack of accounting recognition of IC as an asset in the financial statements. Originality/value - – This is the first empirical study to analyse the relationship between FSI and ICD. Therefore, it serves as feedback to the regulators and standard-setters that recently published recommendations on voluntarily disclosing IC.

Suggested Citation

  • Anis Maaloul & Daniel Zéghal, 2015. "Financial statement informativeness and intellectual capital disclosure," Journal of Financial Reporting and Accounting, Emerald Group Publishing Limited, vol. 13(1), pages 66-90, July.
    • Handle: RePEc:eme:jfrapp:v:13:y:2015:i:1:p:66-90
    DOI: 10.1108/JFRA-04-2014-0023
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    Citations

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    Cited by:

    1. Neifar, Souhir & Jarboui, Anis, 2018. "Corporate governance and operational risk voluntary disclosure: Evidence from Islamic banks," Research in International Business and Finance, Elsevier, vol. 46(C), pages 43-54.
    2. Robert Rieg & Ute Vanini, 2023. "Value relevance of voluntary intellectual capital disclosure: a meta-analysis," Review of Managerial Science, Springer, vol. 17(7), pages 2587-2631, October.

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