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The effect of firm and country characteristics on mandatory disclosure compliance

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  • Sónia Maria Ribeiro Lucas
  • Isabel Costa Lourenço

Abstract

Our study investigates the role of firm and country characteristics in determining the level of compliance with mandatory disclosure requirements. We also examine whether the role of firm characteristics hold across different environments. Our empirical study relies on European Union listed firms and their level of compliance with IFRS 3 disclosure requirements. Our results demonstrate that both firm and country characteristics develop a significant task in explaining the level of compliance. They confirm that firms located in a common-law country have the strongest, and firms located in a French-civil-law country the weakest, level of compliance with IFRS 3 disclosure requirements, with firms located in a Scandinavian- and German-civil-law country placed in the middle. Our findings also suggest that return on assets is the main determinant of the level of compliance in the common-law plus Scandinavian- and German-civil-law countries, while leverage is the main determinant in the French-civil-law countries.

Suggested Citation

  • Sónia Maria Ribeiro Lucas & Isabel Costa Lourenço, 2014. "The effect of firm and country characteristics on mandatory disclosure compliance," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 6(2), pages 87-116.
    • Handle: RePEc:ids:injmfa:v:6:y:2014:i:2:p:87-116
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    Cited by:

    1. Tsalavoutas, Ioannis & Tsoligkas, Fanis & Evans, Lisa, 2020. "Compliance with IFRS mandatory disclosure requirements: A structured literature review," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 40(C).

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