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This paper aims to analyse the determinants of the proportion of quantitative data in financial statement footnote disclosures. Quantitative data represents “hard” information and has been considered to be more persuasive than qualitative data. The primary focus is on income tax footnotes because revenue agents use them as a reference in tax audits, and citizen groups use them to analyse tax inequalities. This study posits that firms with lower effective tax rates (“tax aggressive” firms) disclose less quantitative data in their income tax footnotes.

The multivariate analysis uses data from the contents of income tax footnotes extracted from 10-K filings in eXtensible Business Reporting Language (XBRL). It uses the alphanumeric characters identified in the income tax footnotes to calculate the proportion of quantitative data relative to the entire footnote disclosure as the dependent variable in a multivariate regression analysis.

The findings show that firms which avoid more taxes disclose less quantitative data in income tax footnotes after controlling for the readability of the income tax footnotes and the entire annual report. Therefore, firms seem to reduce the publication of measurable data accessible to revenue agencies and citizen groups.

This analysis provides evidence that firms weigh the financial reporting requirements and tax audit risks when they disclose quantitative income tax data. Also, it supports the Financial Accounting Standards Board’s (FASB’s) proposal to require more disaggregated income tax disclosure. To the researcher’s knowledge, this is the first analysis that focuses on the determinants of disclosing quantitative data in income tax footnotes.

This paper aims to develop a holistic measure for analysing impression management and for detecting bias introduced into corporate narratives as a result of impression management.

Prior research on the seven impression management methods in the literature is summarised. Four of the less‐researched methods are described in detail, and are illustrated with examples from UK annual results' press releases (ARPRs). A method of computing a holistic composite impression management score based on these four impression management methods is developed, based on both quantitative and qualitative data in corporate narrative disclosures. An impression management bias score is devised to capture the extent to which impression management introduces bias into corporate narratives. An example of the application of the composite impression management score and impression management bias score methodology is provided.

While not amounting to systematic evidence, the 21 illustrative examples suggest that impression management is pervasive in corporate financial communications using multiple impression management methods, such that positive information is exaggerated, while negative information is either ignored or is underplayed.

Four impression management methods are described in detail, illustrated by 21 examples. These four methods are examined together. New impression management methods are studied in this paper for the first time. This paper extends prior impression management measures in two ways. First, a composite impression management score based on four impression management techniques is articulated. Second, the composite impression management score methodology is extended to capture a measure for bias, in the form of an impression management bias score. This is the first time outside the USA that narrative disclosures in press releases have been studied.

This paper aims to examine the nature and extent of forward-looking disclosures in early examples of integrated reporting and to investigate the determinants of those disclosures.

The sample for research involved 55 non-financial companies whose reports are available in the Integrated Reporting Examples Database for the year 2014. The authors used content analysis to investigate the quantitative and qualitative forward-looking disclosures among early adopters of integrated reporting. The forward-looking disclosure index (FLDI) was categorized into two main groups, quantitative and qualitative, including 30 items in total. Multivariate ordinary least squares regression was used to investigate the associations proposed in the research hypotheses.

The authors determined that the majority of the entities tended to provide qualitative forward-looking disclosures rather than quantitative. Further, the findings showed that gender diversity and firm size are positively related to forward-looking disclosures, whereas leverage is negatively related to forward-looking disclosures. Contrary to expectations, the authors did not find a significant impact created by board size, board composition, profitability or industry on forward-looking disclosures.

The research contributes to the current integrated reporting and forward-looking disclosure literature. To the best of the authors’ knowledge, there is no prior study that has investigated forward-looking disclosures in integrated reports. This study contributes to the current literature by examining the determinants of forward-looking disclosures by categorizing them as quantitative and qualitative. Further, this research adds empirical findings to the literature on the association found between female directors and forward-looking disclosures.

The purpose of this study is to analyse the quality of disclosure on intangibles in presentations to analysts held by firms listed in the Spanish capital market. Given that quantification of the information provides a more precise and convincing message than qualitative disclosure, the information is measured by two indices, which are focused on the specificity of the disclosure.

The reports of all presentations to financial analysts held by Spanish companies listed in the Madrid Stock Exchange are analysed during the year 2000 and 2001. The sample contains 257 reports.

Briefly, the study finds that there are differences in the quality of the information reported to financial analysts in Spain, and that several factors, such as firm size and the levels of profitability and leverage, highly influence it.

This study contributes to the literature by analysing the disclosure of the information on intangibles beyond the commonly used disclosure/no disclosure dichotomy. Consequently, this study introduces different indices in order to analyse not only the extent but also the specificity of disclosure.

Establishing the quality of overall disclosure on intangibles, as well as the categories on which the specificity is higher, should be relevant for management teams when they design their disclosure strategies. In addition, understanding why firms disclose information on intangibles to financial analysts and why its quality varies among them is also useful to the users of accounting information as well as to accounting policy makers.

This study investigates Asia Pacific banks' annual report disclosures on derivatives using the Basel Committee and IOSCO joint recommendations as the derivative and risk management disclosure benchmark. Based on our constructed disclosure index, the mean score is 35%, suggesting that many of the disclosure recommendations are not being adopted by the banks in our sample. Cross‐country and regional variation exists in the disclosure practices, with the variation associated with the extent to which accounting regulations for derivative instruments are operational. Hong Kong banks have the highest mean disclosure scores while the Philippines banks have the lowest mean disclosure scores. Australasian banks generally provide more disclosures than East Asian and South East Asian banks, and banks in developed countries generally have a higher level of disclosure relative to developing countries. The transparency of derivative activities by the banks is expected to improve as Asia Pacific countries promulgate accounting regulations congruent with international accounting standards.

The purpose of this paper is to empirically investigate the disclosure practices of market risk by 30 banks in ten countries of different size and geographic distribution (USA, Canada, UK, Germany, Japan, Italy, The Netherlands, France, Greece and Cyprus).

The paper uses content analysis and other statistical techniques (regression and correlation analysis) to produce qualitative and quantitative indicators of the degree of market risk disclosure to ascertain if differences exist across countries and across banks of different size.

The findings validate the testing hypotheses, namely that there are still significant differences across banks in different countries, meaning that there is no harmonization in disclosure practices; that the banks in the Anglo‐Saxon countries (UK and USA) are consistently better in their overall risk reporting practices; that the banks that are “good” in reporting qualitative information are also “good” in reporting quantitative information on risk types; OLS regression analysis and correlation analysis point to a positive association between bank size (as measured by the market capitalization) and the level of risk reporting.

The study contributes to a research area that is under‐researched, especially focusing on market risk of banks across countries.

The purpose of this paper is to seek to shed light on the practice of incomplete corporate disclosure of quantitative Greenhouse gas (GHG) emissions and investigates whether external stakeholder pressure influences the existence, and separately, the completeness of voluntary GHG emissions disclosures by 431 European companies.

A classification of reporting completeness is developed with respect to the scope, type and reporting boundary of GHG emissions based on the guidelines of the GHG Protocol, Global Reporting Initiative and the Carbon Disclosure Project. Logistic regression analysis is applied to examine whether proxies for exposure to climate change concerns from different stakeholder groups influence the existence and/or completeness of quantitative GHG emissions disclosure.

From 2005 to 2009, on average only 15 percent of companies that disclose GHG emissions report them in a manner that the authors consider complete. Results of regression analyses suggest that external stakeholder pressure is a determinant of the existence but not the completeness of emissions disclosure. Findings are consistent with stakeholder theory arguments that companies respond to external stakeholder pressure to report GHG emissions, but also with legitimacy theory claims that firms can use carbon disclosure, in this case the incomplete reporting of emissions, as a symbolic act to address legitimacy exposures.

Bringing corporate GHG emissions disclosure in line with recommended guidelines will require either more direct stakeholder pressure or, perhaps, a mandated disclosure regime. In the meantime, users of the data will need to carefully consider the relevance of the reported data and develop the necessary competencies to detect and control for its incompleteness. A more troubling concern is that stakeholders may instead grow to accept less than complete disclosure.

The paper represents the first large-scale empirical study into the completeness of companies’ disclosure of quantitative GHG emissions and is the first to analyze these disclosures in the context of stakeholder pressure and its relation to legitimation.

Given the impending introduction of legislation requiring large Australian listed companies to make supply chain disclosures about modern slavery, the paper aims to reveal current voluntary practice. The purpose of this paper is to provide a benchmark for assessing the current engagement of large companies with modern slavery in Australia.

Institutional theory provides the foundation for assessing current voluntary practice in relation to modern slavery disclosures by large Australian listed companies. Content analysis is used to identify quantity and quality of modern slavery disclosures of the top 100 companies listed on the Australian Stock Exchange. The contents of annual and standalone reports available on websites, as well as other online disclosures, are examined using terms associated with modern slavery identified from the literature.

Evidence gathered about modern slavery disclosures by ASX 100 companies shows information in annual and standalone reports reveal far less than other disclosures on company websites. Overall, the volume and quality of disclosures are low and, where made, narrative. A wide range of themes on modern slavery are disclosed with bribery and corruption and human rights issues dominant. Although currently in line with institutional theory, as there appear to be mimetic processes encouraging disclosure, results support the idea that legislation is needed to encourage further engagement.

The paper provides a baseline of understanding about the volume and quality of modern slavery disclosures as a foundation for future research into the practices of Australian companies prior to the signalled introduction of legislation mandating reporting. It also identifies potential lines of research. The sample only examines large Australian listed companies which restricts generalisation from the results.

This is the first academic research paper to examine quantity and quality of modern slavery disclosures of large Australian companies. Results add support for the introduction of legislation by government.

Integrated reporting (IR) aims to provide disclosures of the connectivity of non-financial and financial value creation aspects. These disclosures are defined as the disclosed connectivity of the capitals resulting from integrated thinking. This paper aims to investigate the extent of disclosed connectivity of the capitals in integrated reports and its underlying managerial discretion by drawing on economic-based theories.

Regression analyses are applied to examine the associations between economic firm-level characteristics and the extent of disclosed connectivity of the capitals. The analyses are based on a content analysis of 169 integrated reports disclosed in 2013 and 2014 by Forbes Global 2000 companies.

This paper finds high heterogeneity in the extent of disclosed connectivity of the capitals in current IR practice. This heterogeneity is related to drivers arising from economic-based theories. Firms’ non-financial and financial performance and the importance of strategic shareholders and debt providers are positively associated with the extent of disclosed connectivity of the capitals. The complexity of the business model and a highly competitive environment are negatively associated with the extent of disclosed connectivity of the capitals.

This paper extends qualitative IR studies on the disclosed connectivity of the capitals by quantitative results from a content analysis for a cross-sectional and global sample. Additionally, this study adds to prior IR literature on the drivers of the binary decision to disclose an integrated report by focusing on the extent of disclosed connectivity of the capitals.

For report preparers, users and standard setters, the results reveal that perceived cost-benefit considerations (signaling vs. direct and proprietary costs) may explain managerial discretion regarding the connectivity of the capitals within integrated reports.

This paper examines integrated reports, which are intended to inform providers of financial capital and other stakeholders about the connectivity of the six capitals of the IR framework.

This paper develops a metric disclosure measure of the extent of disclosed connectivity of the capitals. It provides initial evidence of how the IR framework’s focus on this key characteristic is realized in disclosure practice. Concerns about competitive disadvantages and preparation costs limit this key characteristic of integrated reports.

This paper contributes to risk management research with reference to disclosure of risk specific information within the oil and gas industry. This paper provides empirical evidence regarding voluntary and mandatory disclosure behaviour from both a quantitative and qualitative perspective.

A longitudinal empirical study examines probabilistic reserve quantum reporting of UK companies, over a time-period spanning voluntary and mandatory disclosure. The researchers analyse disclosure behaviour under voluntary and mandatory time spans using a logistical regression approach to measure determinants of risk reporting. Form of regulation is considered as the fundamental driver for disclosure whilst controlling for other relevant variables. Implications for developing international regulation are presented with suggestions for further research.

Mandatory reporting is not seen as a significant influence to disclosure. Degree of risk, quality of audit firms, level of stock exchange and organisational visibility each impact on disclosure. The findings indicate that a mandatory disclosure approach is ineffective, partially explained by mimetic and normative forces and a balancing of agency-related costs and benefits. There is an inverse relationship between level of risk and risk reporting.

Generalisation of the findings is limited due to the specific context of the extractive industry.

The paper seeks to inform the International Accounting Standards Board's (IASB) on-going consideration of risk reporting and also its extractive industries deliberations.

The paper provides original insight into the area of risk management with particular focus on risk specificity and quantitative metrics for risk profiling not previously tested. The paper introduces risk profiling as a variable in risk disclosure.