Mijn onderzoek biedt mogelijkheden voor verder onderzoek met een uitbreiding naar risico- onderwerpen die genoemd zijn in IFRS 7, zoals bijvoorbeeld kredietrisico, liquiditeitsrisico, en marktrisico. Hierdoor zijn beleggers beter in staat om het risicoprofiel, de marktwaardeschatting en nauwkeurigheid van prijsvoorspellingen van een onderneming te bepalen. Daarnaast zullen beleggers minder snel investeren in een organisatie die liquiditeitsproblemen heeft.
Een andere interessante suggestie is om de resultaten tussen verschillende landen of continenten te vergelijken bij het analyseren van de relatie tussen financieringskenmerken en de hoeveelheid risicoverslaggeving. Hierdoor zal mijn onderzoek de Nederlandse beursgenoteerde bedrijven vertegenwoordigen. Het is interessant om te weten hoe andere landen met risicotoelichting omgaan, wat de verschillen zijn t.o.v. de Nederlandse wet en regelgeving en wat de invloeden van het management zijn (informatie asymmetrie).
37
Literatuuropgave
Abraham, S., Sox, P., 2007. Analysing the determinants of narrative risk information in UK FTSE 100 annual reports. The British Accounting Review. Vol. 39, 227-248.
Adams, C., Hill, W.Y., Roberts, C.B., 1998. Corporate social reporting practices in Western Europe: legitimating corporate behavior. British Accounting Review. Vol. 30, 1-21.
Amran, A., 2006. Corporate social reporting in Malaysia: an institutional perspective. Unpublished PhD thesis. University of Malaya. Kuala Lumpur.
Amran, A., Bin, A.M.R., Hassan, B.C.H.M., 2009. Risk Reporting: An exploratory study on risk management disclosure in Malaysian annual reports. Managerial Auditing Journal. Vol. 24, No. 1, 39 Ahn, T.S., Lee, J., 2004. Determinants of voluntary disclosures in management discussion and analysis (MD&A): Korean evidence. Paper presented at the 16th Asian Pacific Conference on InternationalAccounting Issues. November 7-10, Seoul.
Archambault, J.J., Archambault, M.E., 2003. A multinational test of determinants of corporate disclosure. The International Journal of Accounting. Vol. 38, 173-194.
Armstrong, C.S., Guay, W.R., Weber, J.P., 2010. The role of information and financial reporting in corporate governance and debt contracting. Journal of Accounting and Economics. Vol. 50, 179-234 Akkermans, D., Van Ees, H., Hermes, N., Hooghiemstra, R., Van der Laan, G., Postma, T., Van
Witteloostuijn, A., 2007. Corporate Governance in the Netherlands: an overview of the application of the Tabaksblat Code in 2004. Journal compilation Blackwell Publishing Ltd.2007. Vol. 15, No. 6, pages 1106-1118.
Ahmed, J.K. Courtis; Associations between corporate characteristics and disclosure levels in annual reports: a meta-analysis. Volume 31, Issue 1, March 1999, Pages 35-61.
AFM: Risicoparagraaf kwaliteit Accountanscontrole en verslaggevign (2013).
Berle, A., Means, G., 1932. The Modern Corporation and Private Property. The Macmillan Company. New York, NY.
Beretta, S., Bozzolan, S., 2004. A Framework for the Analysis of Firm Risk Communication. The International Journal of Accounting. Vol. 39, No. 3, 265-288.
J. van Bekkum, J.B.S. Hijink, M.C. Schouten & J.W. Winter; 2010; Corporate Governance in the Netherlands.
Collins, J.M., Ruefli, T.W., 1992. Strategic Risk: an ordinal approach. Management Science. Vol. 38, No. 12, pages 1707-1731.
Cooke, T., 1989a. Disclosure in the corporate annual reports of Swedish companies. Accounting & Business Research. Vol. 19, No. 74, 113-124.
Cooke, T., 1989b. Voluntary corporate disclosure by Swedish companies. Journal of International Financial management and Accounting. Vol. 1, No. 2, 171-195.
Corporate Governance Committee, 2003). The Dutch corporate governance code. Principles of good corporate governance and best practice provisions. The Hague.
Corporate Governance Monitoring Committee, 2008). The Dutch corporate governance code. Principles of good corporate governance and best practice provisions.
Combes- Thuélin, E., Henneron, S., Touron, P., 2006. Risk regulations and financial disclosure. An investigation based on corporate communication in French traded companies. Corporate Communications: An International Journal. Vol. 11, No. 3, pages 303-326.
Depoers, F., 2000. A cost-benefit study of voluntary disclosure: some empirical evidence from French listed companies. The European Accounting Review. Vol. 9, No. 2, 245-263.
Deumes, R. and Knechel, W.R., (2008), Economic Incentives for Voluntary Reporting on Internal Risk.
Dobler, M., (2008), Incentives for risk reporting, A discretionary disclosure and cheap talk approach, The International Journal of Accounting, 43.
Der Betrieb. Vol. 54, No. 3, pages 105-111. In Linsley and Shrives, 2006.
Daske, H., Gebhardt, G., 2006. International Financial Reporting Standards and Experts’ Perceptions of Disclosure Quality. Abacus. Vol. 42, No 3-4, pages 461-498.
38
Dunne, T., Helliar, C., Power, D., Mallin, C., Ow-Yong, K., Moir, L., 2004. The Introduction of Derivatives Reporting in the UK: a Content Analysis of FRS 13 Disclosures. Journal of Derivatives Accounting. Vol. 1, No. 2, pages 205-219.
Dye, R., 1985a. Disclosure of nonproprietary information. Journal of Accounting Research. Vol. 23, No. 1, 123-145.
Doupnik & Perera, 2014: International Accounting. Deloitte op weg naar de beurs ,2014.
D.A. (Dick) de Waard prof.dr.; Als de vos de passie preekt.
Eisenhardt, K., 1989. Agency theory: an assessment and review. Academy of Management Review. Vol. 14, 57-74.
Epe, Hoffmann en Koetzier, 2014: Jaarverslaggeving.
García-Meca, E., Parra, I., Larrán, M., Martínez, I., 2005. The explanatory factors of intellectual capital disclosures to financial analysts. European Accounting Review. Vol. 14, No. 1, 63-94.
Guthrie, J., Petty, R., Yongvanich, K., 2004. Using content analysis as a research method to inquire into intellectual capital reporting. Journal of Intellectual Capital. Vol. 5, No. 2, 282-293.
Healy & Palepu, 2001:Information Asymmetry, Corporate Disclosure and the Capital Markets: A Review of the Empirical Disclosure Literature.
Healy, P. M., and Palepu, K. G., (2001), Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature, Journal of Accounting and Economics, 31(1– 3), 405−440.
Hossain, M., Tan, L.M., Adams, M. 1994. Voluntary disclosure in an emerging capital market: some empirical evidence from companies listed on the Kuala Lampur Stock Exchange. International Journal of Accounting. Vol. 29, No. 4, 334-351.
Holsti, O.R., 1969. Content Analysis for the Social Sciences and Humanities. Addison-Wesley, London.
ISO 31000 (KAM nieuwsbrief 2010 p.9).
John R. Grahama , Campbell R. Harveya, b, and Shiva Rajgopal, 2005; The Economic Implications of Corporate Financial Reporting.
Jensen, M.C., Meckling, W.H., 1976. Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial Economics. Vol. 3. No. 4, pages 305-360.
Kajüter, P., 2001. Risikoberichterstattung: Emprisische Befunde und der Entwurf des DRS 5. Krippendorff, K. (1980). Content Analysis: An Introduction to Its Methodology. Sage, Beverly Hills.
Krippendorff, K., 2004. Content Analysis: An Introduction to Its Methodology. Second Edition. Sage, London.
Linsley, P., Shrives, P., 2000. Risk management and reporting risk in the UK. Journal of Risk. Vol. 3, No. 1, 115-129.
Linsley, P., Shrives, P., 2005. Disclosure of risk information in the banking sector. Journal of Financial Regulation and Compliance. Vol. 13, No. 3, 205-214.
Lang, M., Lundholm, R., 1993. Cross-sectional determinants of analyst ratings of corporate disclosure. Journal of Accounting Research. Vol. 31, No. 2, 246-271.
Lupton, D., 1999. Risk. Routlegde, London.
Lajili, K., Zeghal, D., 2005. A content analysis of risk management disclosure in Canadian annual reports. Canadian Journal of Administrative Sciences. Vol. 22, No. 2, 125-142.
Lang, M., Lundholm, R., 1993. Cross-sectional determinants of analyst ratings of corporate disclosure. Journal of Accounting Research. Vol. 31, No. 2, 246-271.
Marshall, A., Weetman, P., (2002). Information asymmetry in disclosure of foreign exchange risk management: can regulation be effective? Journal of Economics and Business, 54, 31-53.
M. Meuleman, K Amess, M Wright, L Scholes; Agency, strategic entrepreneurship, and the performance of private equity‐backed buyouts Entrepreneurship Theory and Practice 33 (1), 213-239 Management and Control Systems, A Journal of Practice & Theory, 27(1), 35-66.
Oliveira, L., Rodrigues, L.L., Craig, R., 2006. Firm-specific determinants of intangibles reporting: evidence from the Portuguese stock market. Journal of Human Resource Costing & Accounting. Vol. 10, No. 1, 11-33.
39
PWC (Spotlight, 2013).
Rajab, B., Handley-Schachler, M., 2009. Corporate risk disclosure by UK firms: Trends and determinants. World Review of Entrepreneurship Management and Sustainable Development. Vol. 5, No. 3, 224-243.
Raad voor de Jaarverslaggeving (RJ 400.110a blz 729).
Reddy, S., 1996. Claims to expert knowledge and the subversion of democracy; the triumph of risk over uncertainty. Economy and Society. Vol. 25. No. 2, pages 222-254.
Rajgopal, S., 1999. Early evidence on the informativeness of the SEC’s market risk disclosures: the case of commodity price risk exposure of oil and gas producers. The Accounting Review. Vol. 74. No. 3, pages 251-280.
Shrives, P., Linsley, P., 2003. Risk disclosure in UK and German annual reports: a comparative study. Paper presented at the European Accounting Association 26th Annual Conference, April. Seville. Linsley, P.M., Shrives, P.J. , (2006), Risk Reporting: A Study of Risk Disclosures in the Annual Reports of UK Companies, The British Accounting Review, 38(4), 387-404.
Scott, W.R., 2014. Financial Accounting Theory, Fourth Edition. Toronto, Canada: Pearson Prentice Hall.
Solomon, J.F., Solomon, A., Norton, S.D., Joseph, N.L., 2000. A Conceptual Framework for Corporate Risk Disclosure Emerging from the Agenda for Corporate Governance Reform.
Taylor, G., Tower, G., Neilson, J., 2010. Corporate communication of financial risk. Accounting and Finance. Vol. 50, 417-446.
Verrecchia, R.E., 1983. Discretionary disclosure. Journal of Accounting and Economics. Vol. 5, No. 3, 179-194.
Weber, R. P. (1990). Basic Content Analysis, 2nd ed. Newbury Park, CA.
Wallace, R., Naser, K., Mora, A., 1994. The relationship between the comprehensiveness of corporate annual reports and firm characteristics in Spain. Accounting & Business Research. Vol. 25, No. 97. Watson, D., Head, T., 1998. Corporate Finance Principles and Practice. Financial Times
Management, London.
Wymeersch, E., 2005. Enforcement of Corporate Governance Codes. ECGI Law Working Paper. 46. Zimmerman, J.L., 1980. Positive Research in Accounting. Perspectives on Research. Pages 107- 128. In Christensen (1983). Websites www.afm.nl www.euronext.com http://www.economische-begrippen.nl/index.php?sectie=begrippen&naam=Principaal-agent+theorie www.iasplus.com/en/standards/ifrs/ifrs7 www.iex.nl www.jaarverslag.com http://scholar.google.nl www.spsshandboek.nl www.telegraaf.nl www.youtube.com (tutorisal spss)
40
Bijlagen
41
42
43
Bijlage 4: Bijlage 4: 95% betrouwbaarheidsintervallen voor de gemiddelde leverage (1 als bedrijf beschikt over dubbele notering, 0 als anders)
44
45
Bijlage 6: 95% betrouwbaarheidsintervallen voor de gemiddelde ORTOEL (1 als bedrijf beschikt over dubbele notering, 0 als anders)
46
47
48
49