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Characteristics of firms that issue concise financial reports in Australia


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Smith, BN 2005 , 'Characteristics of firms that issue concise financial reports in Australia' , Financial Reporting, Regulation & Governance, vol. 4, no. 1 .

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This study represents quantitative replication research in the area of summarised annual reporting in Australia. It investigates the characteristics of 176 publicly listed Australian firms and through both univariate and multivariate analyses finds that firm size and shareholder dispersion are significant determinants of firms that voluntarily choose to issue Concise Financial Reports (CFRs). Given the nature of summarised reporting the implications of these findings are important for preparers, users, professional and regulatory bodies and academics. If the CFR is the only formal communication between large complex companies (Whittred, 1987) and large numbers of individual shareholders it is essential that relevant information is not merely summarised but represents complete, comparable and effectively communicated financial information.

Item Type: Article
Authors/Creators:Smith, BN
Keywords: concise financial reports Australia Australian firm characteristics size shareholders shareholder dispersion unsophisicated investors summary annual reports corporate attributes communication usefulness of financial reports CFR listed companies
Journal or Publication Title: Financial Reporting, Regulation & Governance
ISSN: 1449-2318
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