The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/11110/2284 |
Resumo: | Purpose – This article aims to analyze the influence of certain characteristics of the board of directors and the auditor on the disclosure of derivative financial instruments. Theoretical framework – Operations with derivative instruments are associated with high risks, so the disclosure of these operations and their results helps to reduce information asymmetries. On the other hand, acccording to agency theory, the characteristics of the board of directors and of the auditor can affect the quality and the level of financial information disclosed. Design/methodology/approach – The data were obtained through content analysis, considering the 2017 reports and accounts of 37 companies listed on Euronext Lisbon, through a disclosure index. Subsequently, a multiple linear regression model was developed to identify the determinants of the level of disclosure about derivative instruments. Findings – The results revealed that only the number of independent members on the board of directors, the auditor's gender, and the size of the entity influence the level of disclosure about derivative instruments. Research, Practical & Social implications – This study may be useful for regulators in setting disclosure requirements for derivative instruments and useful in companies' decision making in defining the members of the board and the auditor. Originality/value – It contributes to the literature on compliance with IFRS and contributes to the perception of the influence of certain characteristics associated with the board of directors and the auditor in the disclosure of derivative instruments. |
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The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital MarketAuditorBoard of DirectorsDisclosure Indexderivative financial instrumentsPurpose – This article aims to analyze the influence of certain characteristics of the board of directors and the auditor on the disclosure of derivative financial instruments. Theoretical framework – Operations with derivative instruments are associated with high risks, so the disclosure of these operations and their results helps to reduce information asymmetries. On the other hand, acccording to agency theory, the characteristics of the board of directors and of the auditor can affect the quality and the level of financial information disclosed. Design/methodology/approach – The data were obtained through content analysis, considering the 2017 reports and accounts of 37 companies listed on Euronext Lisbon, through a disclosure index. Subsequently, a multiple linear regression model was developed to identify the determinants of the level of disclosure about derivative instruments. Findings – The results revealed that only the number of independent members on the board of directors, the auditor's gender, and the size of the entity influence the level of disclosure about derivative instruments. Research, Practical & Social implications – This study may be useful for regulators in setting disclosure requirements for derivative instruments and useful in companies' decision making in defining the members of the board and the auditor. Originality/value – It contributes to the literature on compliance with IFRS and contributes to the perception of the influence of certain characteristics associated with the board of directors and the auditor in the disclosure of derivative instruments.International Journal of Professional Business Review2022-03-11T15:47:22Z2022-03-11T15:47:22Z2022-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/11110/2284oai:ciencipca.ipca.pt:11110/2284enghttps://doi.org/Serra, S., Lemos, K. M., & Matins, M. S. (2021). The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market. International Journal of Professional Business Review, 7(1), e0240. https://doi.org/10.26668/businessreview/2022.v7i1.240http://hdl.handle.net/11110/2284Serra, SaraLemos, KátiaMartins, Maria Sofiainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-09-05T12:53:33Zoai:ciencipca.ipca.pt:11110/2284Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T15:02:33.508220Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
title |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
spellingShingle |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market Serra, Sara Auditor Board of Directors Disclosure Index derivative financial instruments |
title_short |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
title_full |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
title_fullStr |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
title_full_unstemmed |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
title_sort |
The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market |
author |
Serra, Sara |
author_facet |
Serra, Sara Lemos, Kátia Martins, Maria Sofia |
author_role |
author |
author2 |
Lemos, Kátia Martins, Maria Sofia |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Serra, Sara Lemos, Kátia Martins, Maria Sofia |
dc.subject.por.fl_str_mv |
Auditor Board of Directors Disclosure Index derivative financial instruments |
topic |
Auditor Board of Directors Disclosure Index derivative financial instruments |
description |
Purpose – This article aims to analyze the influence of certain characteristics of the board of directors and the auditor on the disclosure of derivative financial instruments. Theoretical framework – Operations with derivative instruments are associated with high risks, so the disclosure of these operations and their results helps to reduce information asymmetries. On the other hand, acccording to agency theory, the characteristics of the board of directors and of the auditor can affect the quality and the level of financial information disclosed. Design/methodology/approach – The data were obtained through content analysis, considering the 2017 reports and accounts of 37 companies listed on Euronext Lisbon, through a disclosure index. Subsequently, a multiple linear regression model was developed to identify the determinants of the level of disclosure about derivative instruments. Findings – The results revealed that only the number of independent members on the board of directors, the auditor's gender, and the size of the entity influence the level of disclosure about derivative instruments. Research, Practical & Social implications – This study may be useful for regulators in setting disclosure requirements for derivative instruments and useful in companies' decision making in defining the members of the board and the auditor. Originality/value – It contributes to the literature on compliance with IFRS and contributes to the perception of the influence of certain characteristics associated with the board of directors and the auditor in the disclosure of derivative instruments. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-03-11T15:47:22Z 2022-03-11T15:47:22Z 2022-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/11110/2284 oai:ciencipca.ipca.pt:11110/2284 |
url |
http://hdl.handle.net/11110/2284 |
identifier_str_mv |
oai:ciencipca.ipca.pt:11110/2284 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
https://doi.org/Serra, S., Lemos, K. M., & Matins, M. S. (2021). The Influence of the Board of Directors and the Auditor in the Disclosure of Derivative Financial Instruments: Evidence on Portuguese Capital Market. International Journal of Professional Business Review, 7(1), e0240. https://doi.org/10.26668/businessreview/2022.v7i1.240 http://hdl.handle.net/11110/2284 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
International Journal of Professional Business Review |
publisher.none.fl_str_mv |
International Journal of Professional Business Review |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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