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| Author: | Craswell, A. T. Taylor, S. L. |
| Title: | Discretionary disclosure of reserves by oil and gas companies : an economic analysis |
| Journal: | Journal of Business Finance and Accounting
1992 : JAN, VOL. 19:2, p. 295-308 |
| Index terms: | DECISION MAKING OIL INDUSTRY GAS INDUSTRY ECONOMIC ANALYSIS AUSTRALIA |
| Language: | eng |
| Abstract: | This paper provides additional evidence about the derived demand for firm-specific information. The approach differs from previous studies by being industry specific. This reflects the likelihood that industry-specific proprietary costs of disclosure mitigate managers' response to the demand for information created by agency costs. The evidence suggests that the decision by mining and oil companies to disclose geological information in the annual report reflects the expected agency costs arising from non-disclosure, so far as these are evidenced in the choice of audit firm. However, it appears that the influence of proprietary costs on disclosure policy is more complex than existing empirical frameworks acknowledge. |
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