Corporate Disclosure: A Synthesis of Literature

Abstract

This study is a compendium of the existing literature on corporate disclosure with a view to identifying the gaps to which future empirical inquiry may be directed. The paper discusses the concept of disclosure as canvassed by different authors. This review is initiated with a working definition of disclosure. This was followed by a series of reviews of studies in developed countries. Added to this, are developing countries’ studies. The review showed that the influencers of corporate disclosure differ between developed and developing countries on the one hand, and within both economies on the other hand. The review revealed mixed findings on the determinants of corporate disclosure. This suggests that the factors determining corporate disclosure are not fixed, and vary from one jurisdiction to another. The paper also x-rays a litany of theories of corporate disclosure research and suggests a unified theory that amalgamates the existing theories; and that which will be amenable to the ever-changing reporting environment.