In today's uncertain financial climate it is particularly important for entities to explain their financial performance relative to their expectations. Therefore, the paper analyzes the quality and quantity of management reporting in Germany's publicly traded MDAX and SDAX companies using a...

In today's uncertain financial climate it is particularly important for entities to explain their financial performance relative to their expectations. Therefore, the paper analyzes the quality and quantity of management reporting in Germany's publicly traded MDAX and SDAX companies using a...

This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital. Such an impact is not obvious, as investors might consider strategy information as 'cheap talk' and therefore ignore it. We analyze a sample of 100 German listed firms from 2002...

The continuous demand for enhanced financial reporting has highlighted the decline of the usefulness of traditional financial statements in satisfying the informational needs and requirements of users. Despite there being several points of view, many proposals revolve around the increase of...

The narrative section of annual reports has considerable value to its user groups, such as financial analysts and investors (Barlett & Chandler 1997; International Accounting Standards Board (IASB) 2006; Tiexiera 2004). This narrative section including chairpersons?/presidents? statement contains twice...

Für nach dem 31.12.2005 beginnende Geschäftsjahre sind Aktiengesellschaften und Kommanditgesellschaften auf Aktien, die mit stimmberechtigten Aktien an einem organisierten Markt im Sinne des § 2 Abs. 7 WpÜG notiert sind, gemäß den §§ 289 Abs. 4 bzw. 315 Abs. 4 HGB verpflichtet, für eine...

Der Jahresabschluss ist das zentrale Instrument zur Bereitstellung von prognoserelevanten Informationen und er erfreut sich – dank normierter Struktur und verpflichtender Prüfung – hoher Beachtung seitens der Adressaten. Es liegen bereits empirische Studien vor, die belegen, dass...

Der vorliegende Beitrag etabliert das Gerüst für eine normenbasierte Systematisierung der Lageberichtspolitik und -analyse und zeigt den durch eine solche Analyse erzielbaren Erkenntnisgewinn auf. Dazu werden zunächst die unterschiedlichen Instrumente einer normenbasierten Lageberichtspolitik...

Purpose – The purpose of this paper is to analyse the controversial repeal of legislation requiring UK companies to disclose an Operating and Financial Review (OFR). After a lengthy period of consultation and the preparation of a reporting standard, legislation was passed in March 2005...

The paper observes that the term ‘business model’ has been incorporated in recent financial reporting regulations. The first section of the paper describes various meanings of ‘business model’ and demonstrates that the term has no settled or agreed meaning. The second part of the paper...

The aim of this paper is to highlight the relevance of academic input to the accounting standard setting process by way of both ex-ante research and direct participation. We propose the Delphi methodology as a rigorous scientific way to analyse the perception of a new IASB accounting regulation...

<Para ID="Par1">Recently, the International Integrated Reporting Council has published an integrated reporting framework stimulating major further development in corporate reporting. In combination with a commonly recognized high-level status quo in matters of management commentary, the German two-tier system...</para>

This paper deals with the impact of voluntary strategy disclosure in management reports on the cost of equity capital. Such an impact is not obvious, as investors might consider strategy information as “cheap talk” and therefore ignore it. We analyze a sample of 100 German listed firms from...