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Michael Erkens analyzes the determinants and consequences of information disclosure. He presents an empirical investigation of corporate risk management disclosures of nearly 400 firms from 20 European countries. The results show that countries' institutional settings and cultural values are predominant factors why firms disclose information on their risk management practices. In another study, the author analyzes the economic consequences associated with the publication of an annual report in English by European firms from non-English speaking countries. He finds that the release of English annual reports attracts more analysts and foreign investors to the firm, and decreases information asymmetries between insiders and outsiders of the firm.
List of contents
Importance of Language for Financial Statements Users.-Enforcement and the Demand for Accounting Information.- Disclosure Incentives,Cultural Values, and Institutions.
About the author
Dr. Michael H. R. Erkens received his
Ph.D. from the University of Trier in 2012. He was a visiting research scholar
at the University of Chicago’s Booth School of Business and at HEC Paris, where
he also was a Professor. He is now with the ERASMUS School of Economics at
ERASMUS University Rotterdam (The Netherlands). His main research field is financial accounting.
Summary
Michael Erkens analyzes the determinants and consequences of information disclosure. He presents an empirical investigation of corporate risk management disclosures of nearly 400 firms from 20 European countries. The results show that countries’ institutional settings and cultural values are predominant factors why firms disclose information on their risk management practices. In another study, the author analyzes the economic consequences associated with the publication of an annual report in English by European firms from non-English speaking countries. He finds that the release of English annual reports attracts more analysts and foreign investors to the firm, and decreases information asymmetries between insiders and outsiders of the firm.
