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PRIVATE SHAREHOLDER RESPONSE TO CORPORATE ANNUAL REPORTS *
Author(s) -
Courtis John K.
Publication year - 1982
Publication title -
accounting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.645
H-Index - 49
eISSN - 1467-629X
pISSN - 0810-5391
DOI - 10.1111/j.1467-629x.1982.tb00036.x
Subject(s) - newspaper , accounting , quarter (canadian coin) , shareholder , audience measurement , annual report , business , audit , equity (law) , corporate governance , political science , finance , advertising , geography , law , archaeology
Private shareholder response to annual reports of Australian public‐listed companies was investigated via postal questionnaires in 1979 and 1980. Approximately 2000 usable replies indicate that although annual reports are ranked third to stockbroker advice and newspapers as sources of corporate information, two‐thirds claim the report is of some importance and one‐quarter would buy it and pay up to $2 per copy. Readership behaviour reveals that whereas the chairman's review is the most read item, traditional financial statements are more important in influencing equity decision‐making. The auditor's report, statistical data and notes to accounts are least read and least important. Such evidence has implications for report preparers, auditors, accountancy professional bodies, financial journalists and educators.