Open AccessThe Determinants of Intellectual Capital Disclosure: Evidence from French stock exchange
Author(s) -
Inès Kateb
Publication year - 2015
Publication title -
international journal of accounting and financial reporting
Language(s) - English
Resource type - Journals
ISSN - 2162-3082
DOI - 10.5296/ijafr.v4i2.6579
Subject(s) - voluntary disclosure , goodwill , intellectual capital , accounting , business , stock exchange , debt , agency cost , agency (philosophy) , panel data , capital structure , capital expenditure , principal–agent problem , finance , economics , shareholder , corporate governance , philosophy , epistemology , econometrics
The objective of this paper is to identify the determinants of voluntary intellectual capital disclosure (ICD) by analyzing a panel of French listed companies observed over the period 2006-2010. The results confirm that ownership structure, size, debts and the weight of activated goodwill are the determinants of voluntary ICD which allows managers to reduce agency conflicts and solve the inadequacy of financial reporting by disclosing relevant information (signals) for investors. However, our results disprove that voluntary ICD could be a process of legitimizing targeting other stakeholders.