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Financial reporting on the internet and the practice of croatian joint stock companies quoted on the stock exchanges

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  • Ivica Pervan

    (Faculty of Economics, Split)

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    Abstract

    In the last ten years, the Internet and applications of it have been increasingly widely employed in modern business operations. In developed countries, the Internet is used with increasing frequency for financial reporting. And accordingly a large amount of academic research has been done into the area. Since no such research has yet been carried out in Croatia, it is a research area that is undoubtedly of interest. This investigation was carried out on a basic sample of 38 joint stock companies quoted on Croatian bourses, the shares of all of them being actively traded. The results showed that twenty of the companies made use of Internet financial reporting and eighteen had no such practice. Companies that use Internet financial reporting on the whole publish the annual reports together with the reports of their auditors. In addition, most of the companies use the PDF format for the reports that they publish. Empirical data show that the firms that use Internet financial reporting are on the whole larger and more profitable, and that their shares are more active on the bourses than the shares of companies that have no such reporting practice. Also established was a statistically significant propensity among financial institutions to use Internet reporting. Joint stock companies in the tourist sector were shown not to have a propensity for Internet financial reporting. Bearing in mind the expected growth of GDP, the growth of the capital market, with the constant growth in the number of Internet users, investment in financial reporting on the Internet could be a useful decision for joint stock companies that wish to enhance the transparency of their operations.

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    Bibliographic Info

    Article provided by Institute of Public Finance in its journal Financial Theory and Practice.

    Volume (Year): 29 (2005)
    Issue (Month): 2 ()
    Pages: 159-174

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    Handle: RePEc:ipf:finteo:v:29:y:2005:i:2:p:159-174

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    Related research

    Keywords: financial reporting; joint stock companies; Internet; Croatia;

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    References

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    1. Catherine Gowthorpe & Oriol Amat, 1999. "External reporting of accounting and financial information via the Internet in Spain," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 365-371.
    2. Barbara Pirchegger & Alfred Wagenhofer, 1999. "Financial information on the Internet: a survey of the homepages of Austrian companies," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 383-395.
    3. B. M. Craven & C. L. Marston, 1999. "Financial reporting on the Internet by leading UK companies," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 321-333.
    4. Dominic Deller & Michael Stubenrath & Christoph Weber, 1999. "A survey on the use of the Internet for investor relations in the USA, the UK and Germany," European Accounting Review, Taylor & Francis Journals, vol. 8(2), pages 351-364.
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    Cited by:
    1. Sarra Elleuch Hamza & Mouna Ben Ahmed Hedrich, 2008. "Les déterminants de la divulgation des informations financières via Internet adoptée par les entreprises tunisiennes : une démarche qualitative et quantitative," Post-Print halshs-00524888, HAL.
    2. Bogdan Victoria & Popa Dorina Nicoleta, 2008. "Online Financial Reporting Disclosure Requirements Across Central and Eastern European Countries," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 3(1), pages 983-990, May.

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