Intangibles Disclosure and Capital-Raising in Australia: An Analysis of Information Intensity
AbstractAfter the adoption of AASB 138 in 2005, it is argued that information on intangibles is less visible in Australian companies' financial reports. In view of this limitation, this study examines the nature, extent and intensity of intangibles disclosure by listed companies in Australia. We establish, explore and demonstrate the concept of information intensity which indicates the strength of intangibles information presented by firms. We analyse the narrative sections in annual reports and prospectuses of 30 companies from the Top 200 Australian companies. The overall findings suggest that capital-raising companies make intangibles information visible in both annual reports and prospectuses by signaling information through pictures and repetition of intangibles information which indicates more intense signal. However, we find that the level of disclosure in prospectuses is much lower than the disclosure in the narrative sections in the annual reports. We argue that disclosure in prospectuses is subject to more stringent reporting and disclosure obligations as compared to narrative sections in annual reports. As a result, more intangibles information is observed in annual reports.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Penerbit Universiti Sains Malaysia in its journal Asian Academy of Management Journal of Accounting and Finance.
Volume (Year): 8 (2012)
Issue (Month): 2 ()
intangibles; Australia; capital raising; voluntary disclosure; impression management;
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Journal Division).
If references are entirely missing, you can add them using this form.