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- Title
Recognition versus Disclosure: An Investigation of the Impact on Equity Risk Using UK Operating Lease Disclosures.
- Authors
Beattie, Vivien; Goodacre, Alan; Thomson, Sarah
- Abstract
The article contributes to the ongoing recognition versus disclosure debate by investigating the relationship between operating lease disclosures and equity risk assessments made by the capital market in Great Britain. The sheer volume of disclosures found in modern financial reports has resulted in concern being expressed that disclosure overload is occurring, whereby critical disclosure information is being obscured. According to the authors, Great Britain is particularly valuable as the setting for this study for three reasons. First, operating leases represent a significant financial obligation for many companies. Second, the precise content of the operating lease disclosures made in Great Britain differ from those in the United States. Third, there is a lack of evidence in the British capital markets literature regarding the impact of footnote disclosures on company valuation. The investigation of the capital market impact of lease accounting disclosures across additional environmental settings can be expected to provide further evidence regarding the nature of this relationship that will contribute to the general recognition versus disclosure debate.
- Subjects
UNITED Kingdom; CORPORATE finance; FINANCIAL disclosure; STOCKS (Finance); RISK assessment; FINANCIAL statements; CAPITAL market
- Publication
Journal of Business Finance & Accounting, 2000, Vol 27, Issue 9/10, p1185
- ISSN
0306-686X
- Publication type
Article
- DOI
10.1111/1468-5957.00352