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Corporate Governance and the Informativeness of Disclosures in Australia: A Re-Examination

Forthcoming in Accounting and Finance

48 Pages Posted: 1 Sep 2012 Last revised: 10 Jun 2014

Wendy Beekes

Lancaster University - Department of Accounting and Finance

Philip R. Brown

UWA Business School, M250; Financial Research Network (FIRN)

Qiyu Zhang

Lancaster University Management School

Multiple version iconThere are 2 versions of this paper

Date Written: June 3, 2014

Abstract

We re-examine the association between corporate governance and disclosures reported by Beekes and Brown (2006), using an extended time series of Australian data. Since the ASX corporate governance guidelines were introduced in 2003, firms generally have increased their disclosure frequency and demonstrated an improvement in the timeliness of bad news relative to good news, indicating a levelling of disclosure practices and greater transparency. Better governed firms have become more cautious in their disclosure practices. However they continue to be more balanced with respect to good and bad news timeliness. Changes to disclosure laws have also influenced company practices.

Keywords: Corporate governance, Disclosures, Price discovery, Timeliness, Transparency

JEL Classification: G30, G38, M40

Suggested Citation

Beekes, Wendy and Brown, Philip R. and Zhang, Qiyu, Corporate Governance and the Informativeness of Disclosures in Australia: A Re-Examination (June 3, 2014). Forthcoming in Accounting and Finance. Available at SSRN: https://ssrn.com/abstract=2139511 or http://dx.doi.org/10.2139/ssrn.2139511

Wendy Beekes (Contact Author)

Lancaster University - Department of Accounting and Finance ( email )

Lancaster LA1 4YX
United Kingdom
++44 (0)1524 593623 (Phone)

Philip R. Brown

UWA Business School, M250 ( email )

Crawley, Western Australia 6009
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Qiyu Zhang

Lancaster University Management School ( email )

Bailrigg
Lancaster, LA1 4YX
United Kingdom

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