The determinants of disclosing alternative performance measures
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2019-07-03
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en
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Abstract
Firms around the world have increasingly engaged in the disclosure of alternative
performance measures. Prior research has found that managers can disclose such measures for
informative or opportunistic reasons. However, evidence on the contextual factors that
influence the likelihood of firms disclosing such measures is scarce. This thesis investigates
which contextual factors influence the decision to disclose alternative performance measures.
Using a worldwide sample of 926 high and mid-cap firms over the period 2013-2017, the
results from a multilevel logistic regression indicate that the accounting standards followed,
board independence and the legal system significantly influence the decision to disclose
alternative performance measures. Moreover, it is found that the effect of board independence
on alternative performance disclosure depends on the legal system. The findings contribute to
the literature by providing international evidence on the context in which firms are likely to
disclose alternative performance measures.
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Faculteit der Managementwetenschappen