Date of Graduation
7-2015
Document Type
Dissertation
Degree Name
Doctor of Philosophy in Business Administration (PhD)
Degree Level
Graduate
Department
Accounting
Advisor/Mentor
Linda A. Myers
Committee Member
Cory A. Cassell
Second Committee Member
James N. Myers
Third Committee Member
Kangzhen Xie
Keywords
Social sciences, Accounting, Corporate governance, Disclosure, Disclosure committee, Earnings informativeness, Information asymmetry
Abstract
After the passage of the Sarbanes-Oxley Act of 2002, the Securities and Exchange Commission recommended that companies voluntarily adopt disclosure committees to aid in preparing company disclosures. In this paper, I investigate the determinants and consequences of disclosure committee adoption. I find that companies with material weaknesses in internal controls over financial reporting and less readable 10-K filings are more likely to adopt disclosure committees. In consequences analyses, using a propensity score matched control sample and a difference-in-differences research design, I find that 10-K filings are longer and less readable after disclosure committee adoption. However, consistent with institutional theory, I do not find evidence of a reduction in information asymmetry or an increase in the informativeness of earnings following disclosure committee adoption.
Citation
Schmardebeck, L. R. (2015). The Determinants and Consequences of Disclosure Committee Adoption. Graduate Theses and Dissertations Retrieved from https://scholarworks.uark.edu/etd/1188
Included in
Accounting Commons, Business Administration, Management, and Operations Commons, Corporate Finance Commons