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Determinants of corporate financial reporting lag: the
French empirical evidence
François Aubert
Université d’Auvergne Clermont 1, Faculty of Economics and
Management - IAE, France, iBEACON Research Group (SDSU).
E-mail:
francois.aubert@ecogestion.u-clermont1.fr. Tel: 0033
731 77585.
Accepted 31 August, 2009. |
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This paper focuses on studying why some managers of listed
companies decide to disclose their financial numbers later
than others who opt to publish earlier. This research
concentrates on both statutory annual financial disclosures
in France: the earnings announcements date and the full
financial statements release date. The reporting lag is in
fact a pivotal issue, since there is increasing demand from
investors for relevant up-to-date. Annual summary statistics
continue to underline that the reporting delay is shortening
under mounting pressure from capital markets. In contrast,
reporting lag in the release of financial statements is
rising over time. Empirical results provide further insight
into the determinants of reporting lags (DELAYS) that
documenting managers can opt for when reporting accounting
numbers.
Key words:
Annual financial disclosures, reporting lag, delays,
earnings announcements, financial statement releases. |
