Page 7 - IILMGSM Journal_Management Perspective
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panies provide very limited corporate BSE that the proportion of website ownership
information compared with the large listed appears to be low when they are compared with
companies. developed western countries like US, the UK,
Australia and New Zealand. However it seems to
Dutta and Bose (2007a) surveyed the websites of 104 be that IFR is relatively new phenomenon and not
companies listed in the stock exchanges of a common practice among Omani firms, while it is
Bangladesh between May 2007 and August 2007 in reasonable common practice among Bahraini firms
order to investigate the level of disclosure of with websites.
corporate social and environmental information on Davey and Homkajohn (2004) investigated 40 listed
their websites. The study reveals that company companies in Thailand and found that 92.5% have
concern for the social and environment reporting is websites, 81% of them report comprehensive set of
growing very slowly in Bangladesh. The study also financial statement on their websites while 13.5%
shows that companies in the pharmaceuticals and present only partial financial statements. Following
chemicals sector, followed by the companies in the the same lines Smith and Peppard (2005) found out
fuel and power sector have disclosed most of the that 95% of the 43 general public Irish corporations
social and environmental information on their have websites where 93% of them disclosed complete
websites. set of financial statements on their websites.
Dutta and Bose (2007b) investigated the utilization Similarly Momany and Pillai (2010) investigated the
of the internet for communicating corporate extent of internet financial reporting among United
information by the 268 listed companies of Arab Emirates (UAE) companies listed on the Abu
Bangladesh. The study showed that web-based Dhabi Securities Exchange (ADX). They studied
corporate reporting in Bangladesh is still in its 65 companies and divided them into ten sectors. The
infancy. A wide variation in the level of on-line study showed that 89% of the listed companies have
corporate reporting across 15 sectors has been found. websites while 11% do not have websites. Also, 60%
The highest-ranking sector was the Banking, Leasing of companies having websites revealed financial
and Finance sector. information online whereas the remaining 40% did
not disclose financial information on their websites.
Oyeler and Mohammed (2007) examined the extent
and nature of internet financial reporting practices Various studies have been conducted in abroad but
among listed firms on both Muscat Securities Market few numbers of studies were done in Indian context.
(MSM) in Oman and Bahrain Stock Exchange (BSE). Gakhar (2008) examined the financial and non-
The results indicate that 59% firms listed on MSM financial information disclosures on websites of 200
have websites and 78% firms listed on BSE have BSE listed companies and found all the companies
websites. While 49% firms in the MSM provide have website but the reporting is not so good.
a variety of information on their websites including Chaterjee and Hawkes (2008) examined the
company history, products, financial and other differences in the accessibility of website information
information only 44% firms provide financial between New Zealand and Indian companies as a
information on their websites. Of the 44% firms means of demonstrating the variation that can occur
providing financial information, 77% of the firms across countries as well as within the same reporting
provide both annual reports and additional financial structure. They conclude that Internet financial
highlights while 23% firms provide only financial reporting does provide the illusion of comparability
highlights. It is also worth noting that 80% of the but without a more sustained focus on the
Bahraini companies having websites provided harmonization of terminology and attributes included
financial information on their websites. The in Internet reporting, the potential for comparison is
researchers generally concluded for both MSM and reduced
6
information compared with the large listed appears to be low when they are compared with
companies. developed western countries like US, the UK,
Australia and New Zealand. However it seems to
Dutta and Bose (2007a) surveyed the websites of 104 be that IFR is relatively new phenomenon and not
companies listed in the stock exchanges of a common practice among Omani firms, while it is
Bangladesh between May 2007 and August 2007 in reasonable common practice among Bahraini firms
order to investigate the level of disclosure of with websites.
corporate social and environmental information on Davey and Homkajohn (2004) investigated 40 listed
their websites. The study reveals that company companies in Thailand and found that 92.5% have
concern for the social and environment reporting is websites, 81% of them report comprehensive set of
growing very slowly in Bangladesh. The study also financial statement on their websites while 13.5%
shows that companies in the pharmaceuticals and present only partial financial statements. Following
chemicals sector, followed by the companies in the the same lines Smith and Peppard (2005) found out
fuel and power sector have disclosed most of the that 95% of the 43 general public Irish corporations
social and environmental information on their have websites where 93% of them disclosed complete
websites. set of financial statements on their websites.
Dutta and Bose (2007b) investigated the utilization Similarly Momany and Pillai (2010) investigated the
of the internet for communicating corporate extent of internet financial reporting among United
information by the 268 listed companies of Arab Emirates (UAE) companies listed on the Abu
Bangladesh. The study showed that web-based Dhabi Securities Exchange (ADX). They studied
corporate reporting in Bangladesh is still in its 65 companies and divided them into ten sectors. The
infancy. A wide variation in the level of on-line study showed that 89% of the listed companies have
corporate reporting across 15 sectors has been found. websites while 11% do not have websites. Also, 60%
The highest-ranking sector was the Banking, Leasing of companies having websites revealed financial
and Finance sector. information online whereas the remaining 40% did
not disclose financial information on their websites.
Oyeler and Mohammed (2007) examined the extent
and nature of internet financial reporting practices Various studies have been conducted in abroad but
among listed firms on both Muscat Securities Market few numbers of studies were done in Indian context.
(MSM) in Oman and Bahrain Stock Exchange (BSE). Gakhar (2008) examined the financial and non-
The results indicate that 59% firms listed on MSM financial information disclosures on websites of 200
have websites and 78% firms listed on BSE have BSE listed companies and found all the companies
websites. While 49% firms in the MSM provide have website but the reporting is not so good.
a variety of information on their websites including Chaterjee and Hawkes (2008) examined the
company history, products, financial and other differences in the accessibility of website information
information only 44% firms provide financial between New Zealand and Indian companies as a
information on their websites. Of the 44% firms means of demonstrating the variation that can occur
providing financial information, 77% of the firms across countries as well as within the same reporting
provide both annual reports and additional financial structure. They conclude that Internet financial
highlights while 23% firms provide only financial reporting does provide the illusion of comparability
highlights. It is also worth noting that 80% of the but without a more sustained focus on the
Bahraini companies having websites provided harmonization of terminology and attributes included
financial information on their websites. The in Internet reporting, the potential for comparison is
researchers generally concluded for both MSM and reduced
6
