An empirical examination of corporate websites as a voluntary disclosure medium Online publication date: Sat, 28-Jun-2014
by Samir Trabelsi; Roger Debreceny; Andrew Lymer
International Journal of Applied Decision Sciences (IJADS), Vol. 7, No. 1, 2014
Abstract: Standards-setters, regulators and academics believe that corporate websites may enhance the flow of voluntary disclosure to the capital market and other stakeholders. Management's use of corporate websites for investor relations purposes is a common practice, yet we know little about how these websites affect investors. In this study, we analyse seven corporate websites disclosures categories to examine their predictive ability and their value relevance. The results show that the key non-financial statistics, projected information, information on intangible assets, social and environmental information, are associated with future revenue, future earnings and contemporaneous stock return. The paper contributes to the growing literature on websites disclosure and more generally to the literature on voluntary and strategic disclosure.
Online publication date: Sat, 28-Jun-2014
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