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Internet corporate reporting in Greece

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  • Spanos, Loukas
  • Mylonakis, John
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    Abstract

    This paper investigates the internet corporate reporting practices of Greek listed companies. The aim is twofold: to contribute to the growing literature by examining internet corporate reporting for a small open European capital market; and to present a model of online dissemination of information by companies of all size in Greece. An Internet Disclosure Index (IDI) of 50 items is constructed, which incorporates content and presentation criteria. A total of 141 corporate websites were screened, and both partial and aggregates scores were produced. The scores show that the Greek companies have a lot of work to do in order to enhance the investor relations activities on the internet. On average, the larger, more established companies have significantly higher levels of disclosure for both financial and non-financial data. The contribution of this study is to describe how corporate reporting practices have evolved in an emerging European country, where investor confidence was considerably damaged by speculative events of 1999 and 2000. This study also provides some useful insights into corporate reporting via the internet in smaller listed companies, which have not been researched extensively.

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    File URL: http://mpra.ub.uni-muenchen.de/42997/
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    Bibliographic Info

    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42997.

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    Date of creation: 2006
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    Handle: RePEc:pra:mprapa:42997

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    Related research

    Keywords: corporate reporting; investors' relations; internet;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Loukas Spanos, 2005. "Corporate governance in Greece: developments and policy implications," Finance, EconWPA 0502017, EconWPA.
    2. Pontus Hedlin, 1999. "The Internet as a vehicle for investor relations: the Swedish case," European Accounting Review, Taylor & Francis Journals, Taylor & Francis Journals, vol. 8(2), pages 373-381.
    3. Diamond, Douglas W & Verrecchia, Robert E, 1991. " Disclosure, Liquidity, and the Cost of Capital," Journal of Finance, American Finance Association, American Finance Association, vol. 46(4), pages 1325-59, September.
    4. Loukas Spanos & Lena Tsipouri & Manolis Xanthakis, 2005. "Corporate Governance Rating and Family Firms: The Greek Case," Finance, EconWPA 0503011, EconWPA.
    5. Christine A. Botosan, 2002. "A Re-examination of Disclosure Level and the Expected Cost of Equity Capital," Journal of Accounting Research, Wiley Blackwell, Wiley Blackwell, vol. 40(1), pages 21-40, 03.
    6. J. Geerings & L. H. H. Bollen & H. F. D. Hassink, 2003. "Investor relations on the Internet: a survey of the Euronext zone," European Accounting Review, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(3), pages 567-579.
    7. Debreceny, Roger & Gray, Glen L. & Rahman, Asheq, 2002. "The determinants of Internet financial reporting," Journal of Accounting and Public Policy, Elsevier, Elsevier, vol. 21(4-5), pages 371-394.
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    Cited by:
    1. Turel, Asli, 2010. "The Expectation Gap in Internet Financial Reporting: Evidence from an Emerging Capital Market," MPRA Paper 29800, University Library of Munich, Germany.

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