Bozee, Richard
The impact of reform in Canadian state-owned enterprise on voluntary disclosure in annual reports - 2004 - p.360-78. - Fall
This study examines the impact of reform in Canadian state-owned enterprises (SOES) on the level of information disclosure in their annual reports. Reform in SOES encompasses two critical stages: commercialization and privatization. Commercialization instills into SOES common principles and practices typical of the private sector. As a result, the mandate of the firm shifts away from social towards profitability objectives. Privatization refers to the legal transfer of public ownership to private hands. The author argues that SOE reform leads to greater information asymmetries between management and stakeholders (creditors and shareholders), increasing financial costs for business. In accounting literature, this factor is considered a component that positively influences disclosure. The study's findings support such a proposition. More precisely, the results suggest that commercialization and privatization do provide incentive for managers to disclose additional information in their annual reports. Most of the incremental disclosure is financial. - Reproduced.
Administrative reform - Canada
Administrative reform
The impact of reform in Canadian state-owned enterprise on voluntary disclosure in annual reports - 2004 - p.360-78. - Fall
This study examines the impact of reform in Canadian state-owned enterprises (SOES) on the level of information disclosure in their annual reports. Reform in SOES encompasses two critical stages: commercialization and privatization. Commercialization instills into SOES common principles and practices typical of the private sector. As a result, the mandate of the firm shifts away from social towards profitability objectives. Privatization refers to the legal transfer of public ownership to private hands. The author argues that SOE reform leads to greater information asymmetries between management and stakeholders (creditors and shareholders), increasing financial costs for business. In accounting literature, this factor is considered a component that positively influences disclosure. The study's findings support such a proposition. More precisely, the results suggest that commercialization and privatization do provide incentive for managers to disclose additional information in their annual reports. Most of the incremental disclosure is financial. - Reproduced.
Administrative reform - Canada
Administrative reform