National culture determines how and how much firms disclose in their annual reports. This is one of the findings in a prizewinning article by FEB researchers Reggy Hooghiemstra, Niels Hermes and Jim Emanuels. They won the 2015 runner-up best paper award of Corporate Governance: An International Review (CGIR, volume 23), including a money prize of $2,500.
According to Award committee member Cynthia Clark their paper has an: “Interesting focus on culture and its effect on corporate disclosure. The cross boarder tension between the US (required) and the rest of the world (voluntary) is a nice setting for incentives to disclose risk-related information. Policy implications are clear and meaningful (conformity of disclosures is counterproductive)”.
Nomination criteria for the Best Paper Award included the following three standards: (1) the research question and findings must be highly relevant to practitioners and/or policymakers; (2) the research study must be both theoretically and methodologically rigorous; and (3) the research publication must be published in 2015 in CGIR.
Reggy Hooghiemstra, Niels Hermes and Jim Emanuels, “National Culture and Internal Control Disclosures: A Cross-country Analysis" (23(4): 357–377)
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