• The Journal of Asian Finance, Economics and Business
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• v.8 no.9
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• pp.189-199
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• 2021

This study attempts to examine the relationship between corporate social responsibility (CSR) disclosure and earnings management practices in the context of Saudi Arabia after mandatory IFRS adoption. It is carried out on an unbalanced panel of 277 observations over the period 2017-2019. For this purpose, CSR disclosure is measured by Bloomberg ESG scores, while the residuals from the modified Jones model are considered for earnings management. As control variables, we have retained the firm performance, market-to-book ratio, firm size, financial leverage, board independence, ownership concentration, managerial ownership, and lagged discretionary accruals. Using the system GMM estimator in the dynamic panel, the results show a positive association between CSR disclosure and earnings management practices, thus supporting the perspective of agency theory. Managers engage in socially responsible activities beforehand to conceal their wrongdoing and convince stakeholders that the organization is transparent. They probably use ethical codes as a tool to achieve their own goals rather than the firm's goals. Our contribution is the use of recent data (2017-2019) taking into account the mandatory adoption of IFRS in Saudi Arabia. Additionally, to our knowledge, this study is the first to address CSR disclosure and earnings management practices using GMM system estimates.

• Journal of Environmental Impact Assessment
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• v.28 no.4
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• pp.400-412
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• 2019

The process of assessing environmental values and impacts is subjective and depends on predictions, limiting the securing of scientific rationality. Therefore, it is necessary to make a supplement by securing procedural rationality. This study has been tried to secure procedural rationality of EIA based on information disclosure system. The Aarhus Convention is an international treaty that defines the right of the public to access to environmental information and to participate in decision-making. This study evaluates Korean EIA information disclosure system by deriving 10 indicators based on the provisions on information disclosure presented in the Aarhus Convention. As a result, the five indicators were satisfied in terms of direction of information disclosure and provision. And the four indicators for the basis of utilization and process are required to be supplemented by detailed regulations. Finally, we derive the need for research on the asymmetry of expertise and acceptability of EIA system through public understanding indicators.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.71
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• pp.171-194
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• 2016

In the UK, the legal principle for the duty of disclosure established in Carter v Boehm case was codified in the Marine Insurance Act 1906("MIA"). The duty of disclosure under the MIA is the pre-contractual duty by the insured and therefore, the insured should disclose the every material circumstance that would influence a prudent insurer's judgement. If the insured violates the duty of disclosure, the insurer is entitled to avoid the insurance contract, regardless of whether there was the deliberate or reckless breach, which is unfavorable to the insured. The Law Commission reviewed the duty of disclosure under the MIA in detail and provided the Insurance Act 2015 for the purpose of enhancing the interests of the insured. The Insurance Act 2015("Act"),while the basic legal structure of the duty of disclosure under the MIA still remains, amends it in respect of non-consumer insurance and furthermore, integrate the duty of disclosure and the duty not to misrepresent into the duty of fair presentation of risk. And according to the Act, the insurer is required to more actively communicate with the insured before entering the contract with the result that, if the insured fails to disclose the material circumstance but provides the sufficient information to put the insurer on notice, the insurer should further inquire for the purpose of the insured's revealing the material circumstance. In addition, the Act details the insured's constructive knowledge of material circumstance by reviewing the current case law and introduces a new system for the insurer's proportionate remedy against the insured's breach of the duty of fair presentation of risk.

• The Korean Journal of Financial Management
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• v.26 no.3
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• pp.103-138
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• 2009

In this article we examine a unique data set of intraday fair disclosure(FD) releases to shed light on market efficiency within the trading day. Specifically, this paper analyze the response of stock prices on fair disclosure disseminated in real-time through KIND(Korea Investor's Network for Disclosure) on Korea stock exchange during the period from January 2003 to September 2004. We find that the prices of stock experiences a statistically and economically significant increase beginning seconds after the fair disclosure is initially announced and lasting approximately two minutes. The stock price responds more strongly to fair disclosure on smaller firm but the response to fair disclosure on the largest firm stock is more gradual, lasting five minutes. We also examine the profitability of a short-term trading strategy based on dissemination of fair disclosure. After controlling for trading costs we find that trader who execute a trade following initial disclosure generate negative profits, but trader buying stock before initial disclosure realize statistically significant positive profit after two minute of disclosure. Summarizing overall results, our evidence supports that security prices on Korea stock exchange reflects all available information within two minutes and the Korea stock market is semi-strongly efficient enough that a trader cannot generate profits based on widely disseminated news unless he acts almost immediately.

• International journal of advanced smart convergence
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• v.8 no.3
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• pp.193-200
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• 2019

Accruals-Quality(AQ) is an important proxy for evaluating the quality of accounting information disclosures. High-quality accounting information will provide high predictability and precision in the disclosure of earnings and will increase the response to stock prices. And high Accruals-Quality, such as mitigating heterogeneity in accounting information interpretation, provides information usefulness in capital markets. The purpose of this study is to suggest how AQ, which represents the quality of accounting information disclosure, is transformed into digitized data in real-time in combination with IT information technology and provided to financial analyst's information environment in real-time. And AQ is a framework for predictive analysis through big data log analysis system. This real-time information from AQ will help financial analysts to increase their activity and reduce information asymmetry. In addition, AQ, which is provided in real time through IT information technology, can be used as an important basis for decision-making by users of capital market information, and is expected to contribute in providing companies with incentives to voluntarily improve the quality of accounting information disclosure.

• Journal of Arbitration Studies
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• v.33 no.3
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• pp.95-106
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• 2023

This informative piece delves into the intriguing and crucial history of third-party funding in Nigeria and its application in the Arbitration and Mediation Act of 2023. The article analyses the impact of this funding on cross-border transactions while addressing concerns about mandatory disclosure. The absence of remedies or sanctions for non-disclosure is also a matter of concern that warrants thoughtful examination. The article looks closer at the role of courts, tribunals, and arbitral institutions in addressing gaps in the Act. Ultimately, it presents a well-considered set of recommendations for moving forward. Overall, this piece provides a comprehensive and insightful look into the intricate world of third-party funding and its significance within the Nigerian legal system.

• Convergence Security Journal
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• v.16 no.6_2
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• pp.89-97
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• 2016

Disclosure of personal information to be carried out in one of the Administrative Publicity, Administrative agency as specific information about the person who has violated the obligation imposed by the law is an unspecified number people know is through the direct or Internet media it is to be disclosed in an unspecified number of people. This is, indirect sanctions so as to fulfill its obligations by the addition of psychological pressure that exposes the personal information of the fact that in breach of his obligations to the breach of duty and it has been an unspecified number of people know it is a means. However, publication of these personal information, infringement of the moral rights of the Constitution guarantees an individual, of course, not only a matter of law that the right to self-determination of the personal information, has continued also doubts for the effectiveness of the system. As a result, in this paper, to discuss legal issues with the disclosure of management personal information and its improvement measures, and expected to be able to take advantage of the efficient development of the future of personal information disclosure system.

• Journal of Korean Society of Occupational and Environmental Hygiene
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• v.33 no.3
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• pp.365-374
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• 2023

Objectives: After the MSDS submission and non-disclosure review system was introduced in January 2021, there were compliance difficulties in the field. Accordingly, for the establishment of the MSDS system, the government intends to investigate what has been improved and what urgently needs to be improved in the future, and to suggest detailed improvement plans. Methods: The background and problems of urgent difficulties in the field handling chemicals were investigated, and realistic improvement plans were derived through review of other laws related to the MSDS system and overseas cases. Results: In order to guarantee the safety of the public while at the same time promoting corporate R&D, it is necessary to alleviate the non-disclosure screening system for chemical substances for R&D, and to improve the irrationality of failing to implement the non-disclosure screening system due to information on unclassified substances being circulated. For this reason, it seems necessary to ease the requirement to submit all ingredients. In addition, it is necessary to strengthen punishment to raise awareness so that health problems do not occur due to the harmfulness and danger of hidden substances among workers who handle chemical substances and downstream users due to false descriptions in MSDS. Conclusions: All members of our society, including chemical manufacturers/importers and handling companies, academia, civil society, and the government, each subject of chemicals, should take an interest in the entire process from production to disposal of chemicals and work together to prevent harm to the public.

• The Korean Journal of Emergency Medical Services
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• v.24 no.3
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• pp.29-40
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• 2020

Purpose: This study looked into the reality of the emergency medical technology department by analyzing the major indicators of university information disclosure systems and finding the competitiveness of the department of emergency medical technology by reviewing various evaluation indices. Methods: This study is a survey of 24 colleges with emergency medical technology and emergency medical technology departments across the country. Quantitative index data from 2017 to 2019 were collected and analyzed through the university information disclosure center web site. Results: Departments of emergency medical technology are generally higher than the target colleges in quantitative indicators, but the indices are somewhat insufficient in terms of "rate of faculty in full service" and "research performance of per one faculty in full service." Conclusion: Based on the results of this study, we recommend increasing the low indicators to enhance the competitiveness of the departments of emergency medical technology.

• Journal of Korean Society of Archives and Records Management
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• v.15 no.3
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• pp.7-28
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• 2015

This study aims to provide enhanced management strategies for information disclosure deliberative committees in the Government 3.0 era. It confirms that there has been no progress on the committees' management since the implementation of the Government 3.0 policies. On the contrary, certain retrogression aspect on the committees have been discussed. The study suggests the four alternative strategies as follows: First, the committees should be held regularly and exercise their authority for referring to discussion. Second, it must be configured that outside committee members are more than internal committee members. Also, there should not be any restriction so that external members can be a chairman. Third, the committee meetings should be in the face-to-face form in principle. The documentary deliberation could only be allowed if issues are repeated and they are similar. For this type of deliberation, the procedure and schedule should be established and complied to. Fourth, for the effective operation of the information disclosure system, department and staffing in charge are required.