e-journal

Theoretical perspectives on corporate disclosure: a critical evaluation and literature survey

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Purpose – The purpose of this paper is to provide an extensive and critical overview of the theoretical
perspectives used in the accounting disclosure literature including economic theories, political and
social theories.
Design/methodology/approach – The paper reviews and discusses in details the positive accounting
theory (PAT), agency theory, signalling theory, political economy theory (PET), stakeholder theory,
legitimacy theory and contingency theory to identify the situations suit each of these perspectives.
Findings – The main finding shows that there is no universal theory applicable for all situations
or societies. For example, PAT is probably used when a corporation believes that its primary
responsibility is to use its resources and engage in activities designed to maximise its profits. On the
other hand, the PET seems to better explain why some corporations appear to respond to government
or public pressure for information about their social impact. The agency theory provides the required
framework to evaluate accounting choices and disclosure decisions in market-based studies.While the
legitimacy theory seems to be more suitable for multinational corporations working in developed/
democratic countries, the stakeholder theory seems to be most suitable for multinational corporations
working in developing/dictator countries; whereas a corporation can manage its stakeholders.
The contingency theory supports our main finding that different theories are required for different
situations, as it clearly indicates that management’s preferences of reporting practices are related to
the nature of environmental and organisational constraints rather than their relative income effects.
Originality/value – The paper contributes to the limited body of literature concerning the
accounting disclosure theories and to identify the main theoretical perspective that can be used
in the accounting disclosure research.

Keywords Stakeholder theory, Legitimacy theory, Contingency theory, Political economy theory,Accounting disclosure practice, Positive accounting theory

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Informasi Detail

Judul Seri

Asian Review of Accounting

No. Panggil

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Penerbit

: Emeral Group., 2014

Deskripsi Fisik

Asian Review of Accounting Vol. 22 No. 3, 2014 pp. 257-286

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

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