• 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.

• Asia-Pacific Journal of Business
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• v.15 no.2
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• pp.23-40
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• 2024

Purpose - The purpose of this study is to examine the relation between accruals quality and managers' choice on the type of voluntary disclosure. Design/methodology/approach - Samples of this study are 8,248 firm-year observations listed in Korea Stock Exchange. Poisson regression analysis was hired in order to analyze the association between disclosure frequency and accruals quality because the dependent variables are count data. Findings - First, this study finds that managers' use of non-earnings-related type of voluntary disclosure is negatively related to accruals quality while their use of earnings-related disclosure is positively related to accruals quality. Second, discretionary accruals quality as well as innate accruals quality is significantly associated with disclosure frequency. Research implications or Originality - This study extends the line of research by incorporating the content of voluntary disclosure, earnings- and non-earnings-related information. The results of this study suggest that accruals quality may play a role in the choice of disclosure manner when investigating managers' voluntary disclosure.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.4
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• pp.73-81
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• 2022

The focus of the research is to determine the amount of financial information disclosure and the factors that influence it for non-financial enterprises listed on Vietnam's stock exchange. To evaluate the level of financial information disclosure, the study uses a set of disclosure indexes from the world's leading credit rating agency, Standard and Poor's (S&P). It makes some revisions in compliance with regulations for information disclosure on the Vietnam stock market. The study collects data in the form of annual reports for the year 2017-2020 from 350 non-financial firms listed on Vietnam's stock exchange and then uses a multivariate regression model to assess the effects of factors on the amount of financial information disclosure. The findings show that the size of the firm, the size of the board of directors, and foreign ownership all have a positive impact on financial transparency; however, the number of years the company has a negative impact. According to the findings of this study, companies with more total assets, a larger board of directors, and a higher rate of foreign ownership publish more financial information. Still, long-term listed companies on the stock exchange tend to disclose less.

• The Korean Journal of Archival Studies
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• no.81
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• pp.45-87
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• 2024

This study aims to discuss ways to improve the information disclosure system centered on the Freedom of Information Act by analyzing the revision history of the Act and interviewing information disclosure experts. First, the study analyzed the revision history and contents of the Act from its enactment to today. It found that although positive amendments have been made in terms of expanding the right to know, they have been limited to operational aspects, and no amendments have been made to the criteria for determining information subject to disclosure. The interview was organized into three areas: achievements, problems, and improvements of the Act. The analysis was conducted by breaking down the content of each area and organizing it into themes. In conclusion, the study proposed eight recommendations for improvement, including expanding the scope of information disclosure, categorizing the information to be disclosed, securing a procedure for appealing the non-disclosure of information, increasing the effectiveness of the committee, introducing penalties and disciplinary regulations, establishing an Information Disclosure Appeals Tribunal, establishing systematic controls to prevent misuse of the right to request information, and merging the Public Data Act with the Freedom of Information Act.

• The Journal of Industrial Distribution & Business
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• v.10 no.6
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• pp.51-58
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• 2019

Purpose - Prior studies reported that the opacity of information caused stock price crash. If managers fail to disclose unfavorable information about the firm over a long period of time, the stock price is overvalued compared to its original value. If the accumulated information reaches a critical point and spreads quickly to the market, the stock price plunges. Information management by management's disclosure policy can cause information uncertainty, which will lead to a plunge in stock prices in the future. Thus, this study aims at examining the impact of disclosure quality on crash risk by focusing on the unfaithful disclosure firms. Research design, data, and methodology - This study covers firms listed on KOSPI and KOSDAQ from 2004 to 2013. Firms excluded from the sample are non-December firms, capital-eroding firms, and financial firms. The financial data used in the research was extracted from the KIS-Value and TS2000 database. Unfaithful disclosure firm designation data was collected from the Korea Exchange's electronic disclosure system (kind.krx.co.kr). Stock crash is measured as a dummy variable that equals one if a firm experiences at least one crash week over the fiscal year, and zero otherwise. Results - Empirical results as to the relation between unfaithful disclosure corporation designation and stock price crashes are as follows: There was a significant positive association between unfaithful disclosure corporation designation and stock price crash. This result supports the hypothesis that firms that have previously exhibited unfaithful disclosure behavior are more likely to suffer stock price plunges due to information asymmetry. Second, stock price crashes due to unfaithful disclosures are more likely to occur in Chaebol firms. Conclusions - While previous studies used estimates as a proxy for information opacity, this study used an objective measure such as unfaithful disclosure corporation designation. The designation by Korea Exchange is an objective evidence that the firm attempted to conceal and distort information in the previous year. The results of this study suggest that capital market investors need to investigate firms' disclosure behaviors.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.4
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• pp.763-767
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• 2021

Accounting information is essential for users. Useful information helps users to make appropriate investment-related decisions. Segment reporting disclosure plays a practical role for an investor in a business. The article data was surveyed by ordinary least squares to test the effects of corporate governance on the segment reporting disclosure. The article employed time-series data with 136 observations of the top 100 non-financial Vietnamese enterprises listed on the stock exchange in the period of 2018-2019. The research used two popular theories related to stakeholder and agency to explain the effects of factors on segment reporting disclosure. The results have identified two factors that have a positive impact on segment reporting disclosure, namely, the size of the board and the ratio of foreign members to the total number of the board. Accordingly, the managers of the top 100 Vietnamese listed enterprises should increase the number of board members as well as pay attention to the number of foreign members to contribute to improving the information disclosure on the segment reporting. It is the basis to improve the quality of information to ensure completeness and transparency. It contributes to attracting foreign investment to meet the trend of international economic integration.

• The Korean Journal of Archival Studies
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• no.22
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• pp.77-114
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• 2009

The right to know is not satisfied merely by making or improving laws or systems. The right to know is a matter of culture rather than system. Nevertheless, consistent system improvement measures are required. There are many laws relating to the right to know. In particular, at the core are the Official Information Disclosure Act, the Record and Archives Management Act, and the Presidential Record Management Act. The fact that systems relating to official record management and presidential record management are related to the right to know is understood by the promotion of records and archives management reform after the year 2004, as a result of which the national archives management innovation road map was established. Reflecting the many opinions of the "Information Disclosure System Improvement Task Force" composed with participation of the government and the press after the participatory government's announcement of "Measures to Advance the Support System for News Coverage," amendments to the Information Disclosure Act have come forward with system improvement measures in connection with issues that had arisen until then. Such improvement measures have not resulted in actual improvements. This thesis proposes several system improvement measures, focusing on those that have arisen until now but have not been reflected in discussion, such as converting the concept of information non-disclosure into disclosure postponement, preparing and disclosing particular information disclosure standards, specifying personal information for non-disclosure, specifying and strictly applying any information that has not been disclosed for purposes of internal review, deleting non-disclosure items in stenographic records that do not have a reason to exist, and establishing limits and terms of non-disclosure. Of the most remarkable system improvement measures that have been made until now is our recognition that the right to know is not limited to the information disclosure system but that the "cause" of archive management should be systematic and scientific. In other words, the right to know is understood to establish not just accidential factors, such as with a whistle-blower, but the inevitable factors of systemization of production, distribution, preservation, and use of archives. Much more study should be pursued regarding disclosure of archives information. In particular, difficult issues to be resolved regarding reading records at permanent archives management institutions, such as the National Archives of Korea, or copyrights that arise in the process, require constant study from academia and relevant institutions.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.297-307
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• 2019

Despite the fact that the implementation of 5% rule is widely recognized to enhance the transparency of capital market and fairness of corporate governance market, a few evidences present information effect of 5% rule. Using 7,088 non-financial firm-year observations listed on the Korea Stock Exchange from 2006 to 2012, we analyze the relation between trading volume and 5% rule disclosure. The results show that the daily and abnormal trading volume is increased when 5% rule disclosure is released. Moreover, the trading volume is significantly increased during cooling period. Specifically, trading volume is significantly greater when one day before cooling period or the expiration day of cooling period. We also find the information effect of firms with stable ownership structure before 5% rule disclosure is relatively smaller than the firms with unstable ownership structure with unstable ownership structure. These results imply that capital market participants use the information from 5% rule disclosure and reflect in their real economic decision.

• Asian Pacific Journal of Cancer Prevention
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• v.17 no.4
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• pp.1779-1784
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• 2016

Background: Western physicians tend to favour complete disclosure of a cancer diagnosis to the patient, while non-Western physicians tend to limit disclosure and include families in the process; the latter approach is prevalent in clinical oncology practice in India. Few studies, however, have examined patient preferences with respect to disclosure or the role of family members in the process. Materials and Methods: Structured interviews were conducted with patients (N=127) in the medical oncology clinic of a tertiary referral hospital in Bangalore, India. Results: Patients ranged in age from 18-88 (M=52) and were mostly male (59%). Most patients (72%) wanted disclosure of the diagnosis cancer, a preference significantly associated with higher education and English proficiency. A majority wanted their families to be involved in the process. Patients who had wanted and not wanted disclosure differed with respect to their preferences regarding the particulars of disclosure (timing, approach, individuals involved, role of family members). Almost all patients wanted more information concerning their condition, about immediate medical issues such as treatments or side effects, rather than long-term or non-medical issues. Conclusions: While most cancer patients wanted disclosure of their disease, a smaller group wished that their cancer diagnosis had not been disclosed to them. Regardless of this difference in desire for disclosure, both groups sought similar specific information regarding their cancer and largely favoured involvement of close family in decision making. Additional studies evaluating the influence of factors such as disease stage or family relationships could help guide physicians when breaking bad news.

• The Korean Journal of Archival Studies
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• no.35
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• pp.41-91
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• 2013

There have been numerous steps of growth in policy system since the legal systemization through the enactment of Information Disclosure of public institution Act in 1996 and Records Management of public institution Act in 1999 as well as infrastructure advancement led by government bodies, but it still shows insufficiency in some aspects of information disclosure system and records management. In particular, the issue of reliability on record information disclosed through information disclosure system is raised, and institutional base through the legal and technical devices to ensure the reliability are not well prepared. Government has attempted to enact laws and regulations to guarantee the public right to know through information disclosure and records management at government level, and establish the national system in a way that advances the infrastructure for encouraging the participation in state affairs and utilization of national record information resources. There are limitations that it lacks internal stability and overlooks the impact and significance of record information itself by focusing upon system expansion and disclosing information quantatively. Numerous record information disclosed tends to be falsified, forged, extracted or manufactured by information disclosure staffs, or provided in a form other than official document or draft. In addition, the disclosure or non-disclosure decisions without consistency and criteria due to lack of information disclosure staff or titular supervising authority, which is likely to lead to societal confusion. There are also frequent cases where the reliability is damaged due to voluntary decision, false response or non response depending upon request agents for information disclosure. In other cases, vague request by information disclosure applicant or civil complaint form request are likely to hinder the reliability of record information. Thus it is essential to ensure the reliability of record information by establishing and amending relevant laws and regulations, systemic improvement through organizational and staff expertise advancement, supplementing the information disclosure system and process, and changing the social perception on information disclosure. That is, reliable record information is expected to contribute to genuine governance form administration as well as accountability of government bodies and public organizations. In conclusion, there are needed numerous attempts to ensure the reliability of record information to be disclosure in the future beyond previous trials of perceiving record information as records systematically and focusing upon disclosing more information and external development of system.