• 아태비즈니스연구
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• 제10권4호
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• pp.1-30
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• 2019

The involuntary delisting of public companies has a detrimental effect on economies caused by the loss of stock value and confidence in the capital market. Previous studies have focused on prediction or prevention models for firm delisting events using various financial and accounting information. However, the timely disclosure of companies, another important indicator, has not been investigated before in connection with companies that have been delisted. To address this gap, this study investigates the timely disclosure behavior of companies prior to delisting using sample firms listed on the Korean stock market between 2000 and 2014. The results show a significant correlation between the frequency of timely disclosure and delisted firms prior to their delisting on the Korean stock market. The delisted companies appear to increase their timely disclosure to deliver specific information to the public. Furthermore, these companies are likely to increase the frequency of timely disclosure as they get closer to their delisting. Notably, the timely disclosure of delisted firms has a capital market effect; namely, timely disclosure increases trading volume while decreasing the market value of the shares, reflecting price efficiency. This study appears to be the first that considers timely disclosure in the involuntary delisting literature.

• International Journal of Internet, Broadcasting and Communication
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• 제11권3호
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• pp.41-48
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• 2019

The Management Discussion and Analysis(MD&A) provides investors with an opportunity to gain insight into the company from a manager's perspective and enables short-term and long-term analysis of the business. And MD&A is an important channel through which companies and investors can communicate, providing a useful source of information for analyzing financialstatements. MD&A is measured by the quality of disclosure and there are many previous studies on the usefulness of disclosure information. Therefore, it is very important for the financial analyst who is the representative information user group in the capital market that MD&A Disclosure Quality is measured in real-time in combination with IT information technology and provided timely to financial analyst. In this study, we propose a method that real-time data is converted to digitalized data by combining MD&A disclosure with IT information technology and provided to financial analyst's information environment in real-time. The real-time information provided by MD&A can help the financial analysts' activities and reduce information asymmetry.

• 유통과학연구
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• 제21권6호
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• pp.91-97
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• 2023

Purpose: Interim financial statements provide timely and qualified financial information for users. Hence, the importance of the interim financial statement is increasingly noticeable among information users. This research studies determinants of interim financial statements disclosure in Vietnamese-listed enterprises. Research design, data and methodology: The sample is 55 enterprises listed in VNIndex and is in the list of Forbes top 100 largest companies in 2020. Data was collected from interim financial statements for four years, from 2018 to 2021. GMM is used in this study. Results: The regression analysis results show that reporting lag has a positive impact on the level of information distribution of interim financial reporting; companies audited by BIG4 tend to have a higher level of information disclosure. The higher the return on assets, the more disclosure is made; the larger the company size, the greater the disclosure level. Owner equity structure and Leverage do not affect the disclosure level of interim financial reporting. Conclusions: The information disclosure level on the interim financial statement should be improved to increase transparency. In addition to continuing to encourage these companies to provide more information voluntarily, government authorities should have effective regulations to require sufficient information disclosure from other listed companies.

• 산경연구논집
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• 제6권2호
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• pp.5-11
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• 2015

Purpose - This research investigates the effect of disclosure quality with two main components, reliability and timeliness, on economic value added in Iran. Research design, data, and methodology - The sampling includes 170 Tehran Stock Exchange listed companies from 2008-12. Multiple regression analysis was applied to test the hypotheses and estimates of the coefficients. Firm size and return on assets were the control variables. Results - The results show that timeliness of information has a positive impact on economic value added. We did not find any significant relationship between disclosure quality and reliability of information and economic value added. The regressed model shows that there is no significant association between firm size and economic value added. The results also show that there is a positive association between return on assets and economic value added. Conclusions - Theoretically, timely information is effective in decision-making. This study shows that timeliness of information has positive effect on the creation of economic value added. However, disclosure quality, reliability, and firm size do not effect on economic value added. Companies with greater return on assets produce greater economic value added.

• 한국기록관리학회지
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• 제21권3호
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• pp.79-97
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• 2021

정보공개제도는 투명한 정부라는 민주적 대의와 국민의 알 권리 향상이라는 시대적 요구에 따라 국민들의 관심이 나날이 높아지고 있다. 한편 사회가 발전함에 따라 국민의 삶의 질 향상에 있어 문화예술의 중요성 역시 점차 높아지고 있다. 이러한 배경 하에 많은 문화예술기관에서는 시의적절하고 유용한 정보와 관심도 높은 프로그램을 제공함으로써 국민의 문화예술 활동 참여 확대에 기여하는 방안을 모색하고 있다. 이에 본 연구는 공공기관에 대한 이용자 정보요구를 파악하여 지능적으로 정보공개 서비스에 반영하는 맞춤형 정보서비스를 제안하고자 한다. 이를 위해 3개의 국내 문화예술 공공기관을 대표 사례로 선정, 1년여의 기간 동안 실제 이용자들이 접수한 정보공개청구 목록과 검색어를 수집 및 교차 분석함으로써 이용자 관심도와 정보요구 양상을 파악한다. 나아가 정보공개 업무의 자동화 및 지능화를 위한 필요사항을 정리하고 이용자 요구 중심 정보서비스를 위한 구체적인 개선방안을 제언하였다.

• 한국정보시스템학회지:정보시스템연구
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• 제31권3호
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• pp.67-87
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• 2022

Purpose This study quantified companies' views on the COVID-19 pandemic with sentiment analysis of U.S. public companies' disclosures. It aims to provide timely insights to shareholders, investors, and consumers by analyzing and visualizing sentiment changes over time as well as similarities and differences by industry. Design/methodology/approach From more than fifty thousand Form 10-K and Form 10-Q published between 2020 and 2021, we extracted over one million texts related to the COVID-19 pandemic. Using the FinBERT language model fine-tuned in the finance domain, we conducted sentiment analysis of the texts, and we quantified and classified the data into positive, negative, and neutral. In addition, we illustrated the analysis results using various visualization techniques for easy understanding of information. Findings The analysis results indicated that U.S. public companies' overall sentiment changed over time as the COVID-19 pandemic progressed. Positive sentiment gradually increased, and negative sentiment tended to decrease over time, but there was no trend in neutral sentiment. When comparing sentiment by industry, the pattern of changes in the amount of positive and negative sentiment and time-series changes were similar in all industries, but differences among industries were shown in neutral sentiment.

• 무역상무연구
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• 제69권
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• pp.407-426
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• 2016

The Marine Insurance Act 1906 (MIA 1906) has been a successful piece of legislation, having rarely been amended and having established, or served as an influence in the development of, the basis of marine insurance legislation in several countries. However, it has been recognised that some parts of the MIA 1906 have begun to show their antiquated nature, especially where established principles which were once thought to reflect undoubted propositions of law are now being openly criticised. Since 2006, the Law Commission and Scottish Law Commission (the 'Law Commissions') have been engaged in a major review of insurance contract law, finally leading to the Insurance Act 2015. The Insurance Act 2015 received Royal Assent on 12 February 2015, and was based primarily on the joint recommendations of the Law Commissions. The 2015 Act made substantial changes to several main areas of marine insurance law & practice: (i) the replacement of the pre-contractual duty of disclosure with a duty to make a "fair presentation of the risk"; (ii) the abolition of the "insurance warranty" under the Marine Insurance Act 1906, s.33, and provision of a new default remedy of suspension of liability until the breach is cured; (iii) partial codification of the fraudulent claims rule in insurance contract law, etc. The Act did not provide for any new statutory duty for insurers to investigate or pay claims in a timely fashion, although this may be revisited in the next Parliament. Moreover, the Law Commissions have reopened their consideration of the doctrine of insurable interest. The 2015Actmay not then signal the end of the legislative programme in this area.