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Press release disclosures in Spain and the UK

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  • Guillamon-Saorin, Encarna
  • Sousa, Carlos M.P.

Abstract

Despite acknowledging the importance of different types of press releases in the accounting literature, researchers have conducted little systematic empirical research on this topic. To address this issue the present study examines the antecedents of a firm's decision to issue an Annual Results Press Releases (ARPRs) in a cross-national context, using Spain and the UK. The study investigates for the first time the relationship among ARPRs, earnings performance, the existence of an investor relations department (IRD), company size, and ownership concentration. Using a sample of 246 publicly traded Spanish and UK companies, this article shows that the two countries have significant differences in the disclosure of press releases. Moreover, size and the existence of an IRD were found to have a significant and direct effect on the disclosure of press releases. Finally, the results also indicate that ownership structure and company size play an important role as moderators to explain the effect on disclosure of press releases. Implications of these findings along with limitations and directions for further research are discussed.

Suggested Citation

  • Guillamon-Saorin, Encarna & Sousa, Carlos M.P., 2010. "Press release disclosures in Spain and the UK," International Business Review, Elsevier, vol. 19(1), pages 1-15, February.
    • Handle: RePEc:eee:iburev:v:19:y:2010:i:1:p:1-15
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    Cited by:

    1. Encarna Guillamón-Saorín & Carlos M. P. Sousa, 2014. "Voluntary Disclosure of Press Releases and the Importance of Timing: A Comparative Study of the UK and Spain," Management International Review, Springer, vol. 54(1), pages 71-106, February.
    2. Kshitij Khanna & Helen Irvine, 2018. "Communicating the Impact of the Global Financial Crisis in Annual Reports: A Study of Australian NGOs," Australian Accounting Review, CPA Australia, vol. 28(1), pages 109-126, March.

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