Description
We examine whether and how variations in country-level institutional factors explain the intensity, diversity, and informativeness of corporate disclosures around the world. Using a comprehensive corporate disclosure dataset containing more than 100 types of disclosures from firms domiciled in 35 countries, we examine the effect of four core country-level institutional factors—legal system, creditor/investor rights, political process, and societal characteristics—on the quantity and diversity of disclosures around the world. Our results suggest that the country-level institutional factor, which is likely to capture the legal system of a country, is negatively associated with the intensity, diversity, and informativeness of disclosure. Moreover, creditor/investor rights protection, political process, and societal characteristics consistently affect the production, diversity, and informativeness of disclosures. Overall, results add to the collective limited understanding of how four-core country-level institutional factors, such as legal system, creditor/investor rights, political process, and societal characteristics, at the society and country levels systematically explain corporate disclosures and their associated informativeness.| Period | 11 Aug 2022 |
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| Held at | American Accounting Association, United States |
| Degree of Recognition | International |