Corporate disclosure is critical for the functioning of an efficient capital market (Healy & Palepu, 2001) and investor relations has more and more importance in comunication between company and its investors. In recent years many publicly traded companies use internet as a new channel to inform...

As a modern system by which companies are directed and controlled (The Cadbury Report, 1992) – corporate governance have became in the last years a system implemented by more and more companies from developed countries and recently from developing once. Having as starting point one of the...