Annual Report Disclosures Surrounding the Restructuring of the Electric Utilities Industry

33 Pages Posted: 3 Apr 2003

See all articles by Michael E. Bradbury

Michael E. Bradbury

Massey University

Jill Hooks

Massey University - Department of Accountancy

Date Written: January 22, 2003

Abstract

This paper examines information disclosed in annual reports in a period surrounding the restructuring of the electricity industry. The purpose of the restructuring was to increase product market competition in both the wholesale and retail distribution sectors. We construct a 22-item disclosure index, which is partitioned into four components: background data, current operating data, forward-looking data and segment data. We hypothesize and find that firms that are subject to increasing competition will reduce disclosure levels. In general we find that firms reduce forward-looking data and segment data. While some increases in background and current data occurs, firms reduce information on their current derivative positions.

Keywords: Voluntary disclosure, Electric Utilities, Deregulation

JEL Classification: L51, M41, M45, N77

Suggested Citation

Bradbury, Michael E. and Hooks, Jillian J., Annual Report Disclosures Surrounding the Restructuring of the Electric Utilities Industry (January 22, 2003). Available at SSRN: https://ssrn.com/abstract=372261 or http://dx.doi.org/10.2139/ssrn.372261

Michael E. Bradbury (Contact Author)

Massey University ( email )

School of Accountancy
Private Bag 102 904
Auckland
New Zealand
64 9 414 0800 (Phone)
64 9 441 8133 (Fax)

Jillian J. Hooks

Massey University - Department of Accountancy ( email )

Private Bag 102 904, North Shore MSC
Palmerston North
New Zealand
64 9 443 9799 (Phone)
64 9 441 8177 (Fax)

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