Suchergebnisse

This paper examines the features of Spanish local governments that influence the degree of their voluntary reporting of financial information on the Internet. Following an agency theory approach, we propose five hypotheses regarding the relationship between voluntary financial disclosure and the size, leverage, capital investment, political competition and press visibility of a local authority. The empirical application of these hypotheses shows that size, capital investment and political competition are positively associated with the degree of online reporting. We also found a negative and significant relationship between press visibility and voluntary financial disclosure. Adapted from the source document.