Open AccessWeb based financial disclosure in European con-text: European transparency directive analysis
Author(s) -
Dhouha Khrifech,
Walid Khoufi,
Ahmed Ghorbel
Publication year - 2017
Publication title -
international journal of accounting and economics studies
Language(s) - English
Resource type - Journals
ISSN - 2309-4508
DOI - 10.14419/ijaes.v6i1.8631
Subject(s) - transparency (behavior) , directive , business , european union , profitability index , accounting , index (typography) , capital market , finance , international trade , political science , world wide web , computer science , law , programming language
This study aims to explain the relationship between firm specific characteristics and the corporate Web based disclosure level in European Union countries. European companies should apply the transparency directive requirements, which clarifies principal component of corporate Websites content. We analyze the Websites content of 197 listed groups on capital market of six European countries: Germany, Spain, French, Italy, Netherlands and UK.Web disclosure level, endogenous variable, is measured by disclosure index. It includes four dimensions: content, timeliness, technology and user supports.Our findings show that profitability, concentration ownership, information technology (IT) sector and Big 4 affect significantly Web disclosure index. We conclude that IT sector determining factor of Web financial disclosure in Europe.