Completeness of non-financial disclosure by Russian companies: The influence on investment attractiveness
DOI:
https://doi.org/10.21638/spbu18.2020.103Abstract
In the context of the development of the digital economy, the role of the company’s information transparency is being intensifyed. Despite purely financial information, investors increasingly take into account the disclosure of non-financial information in the annual accounts. The purpose of this study is to empirically examine the relationship between the quality of non-financial information disclosure by Russian companies and their investment attractiveness. To achieve this goal, we use a modern methodology of text analysis by creating a unique dictionary and index characterizing the quality of disclosure of non-financial information. The construction of the panel regression allowed us to empirically confirm the link between the quality non-financial information and different indicators of investment attractiveness of Russian companies.
Keywords:
completeness of information disclosure, disclosure of non-financial information, investment attractiveness, Tobin’s ratio, text analysis, GRI standards
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References
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Published
2020-05-29
How to Cite
Fedorova, E. A., Khrustova, L. E., & Demin, I. S. (2020). Completeness of non-financial disclosure by Russian companies: The influence on investment attractiveness. Russian Management Journal, 18(1), 51–72. https://doi.org/10.21638/spbu18.2020.103
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Section
Theoretical and Empirical Studies
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Articles of the Russian Management Journal are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.
