• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.181-191
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• 2021

The aim of the study is to empirically investigate and analyze the influence of public welfare, audit findings, and follow-up of audit recommendations on audit opinion with the disclosure level of financial reports as an intervening variable using agency theory and signaling theory. To achieve this purpose, a quantitative research method was employed. Population of this study is Provincial Government Financial Reports in Indonesia for fiscal years 2016 to 2018. There were 84 financial reports that met the criteria of purposive sampling. The data were gathered from the websites of the Audit Board of the Republic of Indonesia and the Indonesian Central Bureau of Statistics. In this study, the hypothesis-testing tool is path analysis using the Statistical Package for Social Sciences version 15. Based on the multiple regression analysis, the results show that audit findings, public income, and the disclosure level of financial reports significantly influenced audit opinion. Besides, the follow-up of audit recommendations and public health significantly influenced audit opinion through the disclosure level of financial reports. This study suggests that, in order to have better audit opinion, local governments need to improve public welfare, follow-up audit finding, and disclose more details in financial report.

• The Journal of Asian Finance, Economics and Business
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• v.4 no.3
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• pp.5-17
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• 2017

This study extends research into whether disclosure of corporate and financial information is associated with firms' costs of equity capital. This study sets out to examine empirically the determinants of corporate disclosure in the annual reports of 37 largest and most liquid firms listed on Kazakhstan Stock Exchange (KASE) in Kazakhstan. It also reports the results of the association between company-specific characteristics and disclosure of the sample companies. Based on the analysis of existing empirical research, the disclosure index has been constructed and regression analysis of the influence of the disclosure index on the cost of equity capital has been conducted. The obtained results show that the received findings correlate with foreign empirical studies, and the disclosure index in this sample has a negative impact on the cost of equity capital. Using cost of equity capital estimates derived from capital asset pricing model, we find that firms with higher levels of financial transparency are associated with significantly lower costs of equity capital. Economic theory assumes that by increasing the level of corporate reporting, firms not only increase their stock market liquidity, but also decrease the investors' estimation risk, arising from uncertainty about future returns and payout distributions. The results show that firms on the Kazakhstan market can reduce their cost of equity capital by increasing the level of their voluntary corporate disclosures.

• International Journal of Contents
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• v.16 no.1
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• pp.10-24
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• 2020

As many brands use social media influencers (SMIs) on Instagram to advertise, not disclosing advertised content affects how consumers perceive these influencers. The purpose of this study was to investigate two objectives: 1) recent advertising disclosure types on Instagram and 2) the factors that affect consumer responses towards Instagram influencers posting advertised content. Using an experimental 2x2 between-subjects design (N=200), the findings show that "sponsored" and "paid partnership with" are two recent types of ad disclosures. However, both factors are insignificantly different from each other. Also, ad disclosure condition enhances the trustworthiness of the influencer than no disclosure. Ad skepticism, source credibility, and the level of persuasion strongly relate to how consumers perceive Instagram influencers advertising for brands. These factors enable consumers to assess if the influencer is a reliable source of information when faced with advertisement. Ultimately, using disclosure gives full information to consumers about the persuasive intent, as well as increases positive consumer responses towards the influencer who discloses, thereby, enhancing the ethical use of the influencer advertising strategy and long-term consumer relationship.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.119-129
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• 2020

The main purpose of this study is to examine the impact of intellectual capital disclosure (ICD) on firm performance in the pharmaceutical and chemical industry of Bangladesh. In this study, 21 listed pharmaceutical and chemical companies have been selected as sample for 2016 and 2017. This study used the intellectual capital disclosure index developed by Rahman, Sobhan, and Islam. Return on assets and return on equity have been used as the proxy variable of firm performance. In this study, content analysis is performed to assess the level of disclosure regarding intellectual capital and pooled cross-sectional analysis is used to assess the relationship between ICD and firm performance. The study has found a positive and significant relationship between ICD and firm performance. Besides, an in-depth analysis of this study shows that all the components of ICD namely internal capital disclosure, external capital disclosure, and human capital disclosure are also positively and significantly associated with firm performance. The study suggests the development of an intellectual capital disclosure framework by the regulatory authority for mandatory compliance. This will improve the quality and quantity of ICD in the annual reports. Besides, firms should more emphasize on ICD which will help to improve their performance.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.119-128
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• 2020

The aim of this paper is to investigate the level of intellectual capital disclosure (ICD) in commercial banks listed on the Indonesian Stock Exchange. This paper also observed the effects of ICD and corporate governance mechanism on market value. This study uses content analysis techniques to measure ICD. The paper provides a novel approach to measure the ICD quality in developing countries using a four-numerical coding system. Secondary data were obtained from the financial statements and annual reports of the banks for the period 2011-2014. The data from 31 banks were analyzed using ordinary least square regression. The study reports that the quality of intellectual capital disclosure in Indonesian commercial banks increase steadily. Narrative disclosure dominates the report of intellectual capital in Indonesian banks. The results indicate that the size of audit committee, frequency of audit committee meeting, and intellectual capital disclosure affect positively the market value. Overall, the results indicate intellectual capital disclosure is associated with the market capitalization; these findings indicate that the ICD is a consideration in a stock investment decision. While regulations in Indonesia regarding intellectual capital reporting are not conclusive yet, the information needs of stakeholders have encouraged companies to expand voluntary disclosure.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.7 no.3
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• pp.558-575
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• 2013

The purpose of a data leakage prevention system is to protect corporate information assets. The system monitors the packet exchanges between internal systems and the Internet, filters packets according to the data security policy defined by each company, or discretionarily deletes important data included in packets in order to prevent leakage of corporate information. However, the problem arises that the system may monitor employees' personal information, thus allowing their privacy to be violated. Therefore, it is necessary to find not only a solution for detecting leakage of significant information, but also a way to minimize the leakage of internal users' personal information. In this paper, we propose two models for representing the level of personal information disclosure during data leakage detection. One model measures only the disclosure frequencies of keywords that are defined as personal data. These frequencies are used to indicate the privacy violation level. The other model represents the context of privacy violation using a private data matrix. Each row of the matrix represents the disclosure counts for personal data keywords in a given time period, and each column represents the disclosure count of a certain keyword during the entire observation interval. Using the suggested matrix model, we can represent an abstracted context of the privacy violation situation. Experiments on the privacy violation situation to demonstrate the usability of the suggested models are also presented.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.877-883
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• 2020

The purpose of the article is to evaluate the factors that affect the degree of environmental accounting information disclosure. Data are collected from 87 industry companies listed on the Vietnamese stock market from 2009 to 2019. I focus on the effect of factors such as the Firm size, Profitability, Leverage, Firm age, and Independent auditors. To explain the causal relationship between factors, I construct the regression model and then test it by using different statistical method approaches, including the pooled OLS, the fixed effects model, and the random effects model. Then I conduct testing of model defects: White Test, Wooldridge Test, Hausman Test, and Wald Test. The Feasible Generalized Least Squares (FGLS) method is used to analyze the image factors that affect environmental accounting information disclosure. The results show that the extent of environmental accounting information disclosure is influenced by factors: firm size, uptime and independent audit. These factors positively affect the level of environmental accounting information disclosure; independent audit has the greatest influence. Based on the research results, the author gives recommendations to improve the disclosure of environmental accounting information for industrial enterprises listed on the Vietnamese stock market, increasing the competitiveness of the public company in terms of global integration.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.1
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• pp.327-333
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• 2021

Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.111-118
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• 2022

The purpose of this research is to evaluate the quality of non-financial information disclosure by companies listed on the Vietnamese stock exchange. In 2019, 140 annual reports from 140 companies listed on the Vietnam Stock Exchange were included in the research sample. The remaining 134 reports were eligible study after removing those that lacked essential data. Using the statistical software SPSS version 25 and Excel office software, the study has selected the data processing method and the disproportionate disclosure index method to evaluate the quality of non-financial information disclosure of companies. The findings of the study demonstrate that companies listed on the Vietnam stock exchange are particularly interested in giving non-financial information to financial statement consumers as required by law, although the level of disclosure is still inadequate. The findings also illustrate the varying levels of non-financial information disclosure by category of information, as well as substantial disparities between them (general information about the company, environmental and social information, corporate governance information, etc.). The findings of the study show that the majority of Vietnam's publicly traded enterprises are less interested in reporting environmental information.

• Journal of the Korean Society for Aviation and Aeronautics
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• v.32 no.2
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• pp.72-81
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• 2024

Korean aviation authority required air service providers to submit public disclosure of aviation safety investment to encourage proactive and voluntary safety investments. In 2023, two airport operators and seventeen airlines disclosed their safety investment results and plans for the first time. This study aims to examine and analyze the current status of the disclosure system, identify insights for its development, and set directions for the future. Safety investments by airport operators decreased by 14.3% in 2022 compared to 2021 due to decreased aviation demand. Airline increased their safety investment by 46% to 4 trillion won, investing heavily in MRO and aircraft replacement, leading to a decrease in the average fleet age by 0.8 years. FSCs have shown a significantly higher level of safety investment compared to LCCs. However, LCCs show higher safety investment relative to revenue. It is necessary to consider the characteristics of each operator as well as the scale when comparing safety investments. A roadmap is suggested based on the importance of disclosure items for the strategic approach and improvement measures for the aviation safety investment disclosure system.