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dc.contributor.authorHassan, Mohamat Sabri
dc.contributor.authorPercy, Majella
dc.contributor.authorStewart, Jenny
dc.date.accessioned2017-05-03T14:14:47Z
dc.date.available2017-05-03T14:14:47Z
dc.date.issued2006
dc.date.modified2008-02-07T03:25:27Z
dc.identifier.issn1727-9232
dc.identifier.urihttp://hdl.handle.net/10072/13909
dc.description.abstractThis paper investigates the transparency of derivative disclosures of Australian firms in the extractive industries using 1998 to 2001 financial reports. The quality of financial reporting has become a major corporate governance issue since the collapse of prominent companies such as Enron in the United States, HIH Insurance in Australia, and, of particular relevance here, Barings PLC in the United Kingdom, where the losses were caused by derivative instruments. Disclosure transparency is an important component of the quality of financial reporting. We measure transparency based on a disclosure index developed from AASB 1033 Presentation and Disclosure of Financial Instruments. We examine the relationship between transparency and firm characteristics represented by size, performance, growth opportunities, auditor and type of extractive firm. The results indicate that the transparency of derivative disclosures among firms in the extractive industries has increased over the period. However, there is still evidence of non-compliance with the disclosure requirements, especially in relation to net fair value. We find that firm size, price-earnings ratio and debt-to-equity ratio, and to a lesser extent, market-to-book ratio and profitability are associated with disclosure transparency.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent801529 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoeng
dc.publisherVirtus Interpress
dc.publisher.placeUkraine
dc.publisher.urihttp://www.virtusinterpress.org/journals.html
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom257
dc.relation.ispartofpageto270
dc.relation.ispartofissue2
dc.relation.ispartofjournalCorporate Ownership & Control
dc.relation.ispartofvolume4
dc.rights.retentionY
dc.subject.fieldofresearchAccounting, Auditing and Accountability
dc.subject.fieldofresearchBanking, Finance and Investment
dc.subject.fieldofresearchBusiness and Management
dc.subject.fieldofresearchcode1501
dc.subject.fieldofresearchcode1502
dc.subject.fieldofresearchcode1503
dc.titleThe Transparency of Derivative Disclosures by Australian Firms in the Extractive Industries
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.rights.copyright© 2006 Virtus Interpress. Please refer to the journal's website for access to the definitive, published version. This is the author-manuscript version of this paper.
gro.date.issued2006
gro.hasfulltextFull Text
gro.griffith.authorPercy, Majella
gro.griffith.authorStewart, Jenny D.


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