Voluntary disclosure of cash flow statements and segment data in Germany
- Discretionary disclosure theory suggests that firms' incentives to provide proprietary versus nonproprietary information differ markedly. To test this conjecture, the paper investigates the incentives of German firms to voluntarily disclose business segment reports and cash flow statements in their annual financial reports. While the former is likely to reveal proprietary information to competitors, the latter is less proprietary in nature. Using these proxies for proprietary and non-proprietary disclosures, respectively, I find that the determinants or at least their relative magnitudes differ in a way consistent with the proprietary cost hypothesis. That is, cash flow statement disclosures appear to be governed primarily by capital-market considerations, whereas segment disclosures are more strongly associated with proxies for product-market and proprietary-cost considerations.
Download full text files
Additional Services
| Author: | Christian LeuzORCiDGND |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-553471 |
| URL: | https://www.econbiz.de/archiv/f/uf/finanzierung/segment_data.pdf |
| ISSN: | 1434-3401 |
| Parent Title (German): | Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 21 |
| Series (Serial Number): | Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting (21) |
| Place of publication: | Frankfurt am Main |
| Document Type: | Working Paper |
| Language: | English |
| Year of Completion: | 1999 |
| Year of first Publication: | 1999 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2020/08/30 |
| Tag: | business segment reports; cash flow statements; proprietary costs; voluntary disclosure |
| Issue: | 7. March 1999 |
| Page Number: | 49 |
| HeBIS-PPN: | 470252502 |
| Institutes: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Licence (German): |  Deutsches Urheberrecht |
