In the current paper, the authors investigate empirically the relationship between the share price volatility and the amount of voluntary information disclosed in the corporate annual report. The authors use the data ...In the current paper, the authors investigate empirically the relationship between the share price volatility and the amount of voluntary information disclosed in the corporate annual report. The authors use the data envelopment analysis （DEA） and the stochastic frontier analysis （SFA） models on a sample of 50 listed French firms belonging to the Soci6t6s des Bourses Fran^aises （SBF250） index from 2004 to 2008. The authors focus on the extent of voluntary disclosure in the annual reports that have been measure by using a composite disclosure index. Then, the authors study the relevance of disclosure policies through the ability of the voluntary disclosure level to effectively reduce the share price volatility. The findings of DEA and SFA provide, in average, highly efficient scores of the sample, reveal the several dispositions taken by the French Exchange Market authorities and the initiative of French firms to improve the market stability. In addition, the findings highlight, in average, stability of the firms＇ efficiency scores over the studied period. The authors explain these findings by the stability of corporate disclosure policy as suggested in previous literature （e.g., Botosan, 1997）. However, there are some differences between the findings of SFA and DEA models.展开更多
This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share an...This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share and dividends on the stock price of Nigerian manufacturing companies.Ex post facto research and data were obtained from twenty audited annual reports and financial statements.This study used the ordinary least squares(OLS)estimation from 2012 to 2021 and covered ten years with the help of E-view 9.0 data analysis revealed that there is a positive insignificant relationship between stock dividends,earnings per share and stock price in the manufacturing sector in Nigeria.展开更多
文摘In the current paper, the authors investigate empirically the relationship between the share price volatility and the amount of voluntary information disclosed in the corporate annual report. The authors use the data envelopment analysis （DEA） and the stochastic frontier analysis （SFA） models on a sample of 50 listed French firms belonging to the Soci6t6s des Bourses Fran^aises （SBF250） index from 2004 to 2008. The authors focus on the extent of voluntary disclosure in the annual reports that have been measure by using a composite disclosure index. Then, the authors study the relevance of disclosure policies through the ability of the voluntary disclosure level to effectively reduce the share price volatility. The findings of DEA and SFA provide, in average, highly efficient scores of the sample, reveal the several dispositions taken by the French Exchange Market authorities and the initiative of French firms to improve the market stability. In addition, the findings highlight, in average, stability of the firms＇ efficiency scores over the studied period. The authors explain these findings by the stability of corporate disclosure policy as suggested in previous literature （e.g., Botosan, 1997）. However, there are some differences between the findings of SFA and DEA models.
文摘This research work determined the impact of value relevance of accounting information on the stock price of manufacturing companies in Nigeria.More specifically,the study determines the impact of earnings per share and dividends on the stock price of Nigerian manufacturing companies.Ex post facto research and data were obtained from twenty audited annual reports and financial statements.This study used the ordinary least squares(OLS)estimation from 2012 to 2021 and covered ten years with the help of E-view 9.0 data analysis revealed that there is a positive insignificant relationship between stock dividends,earnings per share and stock price in the manufacturing sector in Nigeria.
