Governance and Practices of Financial Communication: An Empirical Study in Cameroonian Companies
DOI:
https://doi.org/10.59051/joaf.v2i1.11Keywords:
Governance, Financial communication practice, Quality, Spread, Public Limited CompanyAbstract
The objective of this study is to present the governance mechanism and the communication practices on one hand and to analyse on the other hand the implications of the organisational and management structure respectively, on the quality and the financial communication spread of Cameroonian Public Limited Companies (PLC).
Using an explanatory approach and based on the sample of 78 Public Limited Companies, the study notice that the financial communication practices is weak in terms of quality and spread. The results show that, there is a statistical link between the management and organisational structures and the practice of financial communication.
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References
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SHLEIFER, A, VISHNY, R, W, (1997), «A survey of corporate governance”, Journal of Finance, 52(2), pp. 737-783.
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YERMARK, D, (1996), “Higher market valuation of companies with a small board of directors”, Journal of Financial Economics, 40, PP.185-211.
ZHARA, S, A, PEARCE, J, A, (1989), “Board of director and corporate financial performance”, Journal of Management, n°15, PP.291-334.
BERTRANT, F, (2002), « Les stratégies de communication financière des grandes sociétés françaises cotées : une étude empirique », Papier de recherche, Centre d’Etudes et de Recherches sur la Gestion des Entreprises.
BUSHEE, B, J, NOE, C, F, (2000), “Corporate disclore quality and propertics of analysts information environment”, Journal of Accounting Auditing and Finance, Summer, pp.355-378.
CAUVIN E, DECOCK-GOOD, C, BESCOS, P, L, (2006), « La perception des entreprises françaises en matière de diffusion d’information non financière : une enquête par questionnaire », Comptabilité-Contrôle-Audit, Tome 12, Vol. 2, pp. 117-142.
CHAPELLIER, P, (1994), Comptabilités et systèmes d’informations du dirigeant des PME – Essai d’observation et d’interprétation des pratiques, Thèse de Sciences de Gestion, U. de Montpellier II.
CHAPELLIER, P, (1997), “Profil de dirigeants et données comptables de gestion en PME”, Revue Internationale PME, vol. 10, n°1, 9-41.
CHARREAUX, G, (1997), Gouvernement d’entreprise, Economica, Paris, 540 p.
CHARREAUX, G, PITOL, B, (1990), Le conseil d’administration, Vuibert-Gestion.
COULTON, J, TAYLOR, (2001), “The effect of compensation design and corporate governance on the transparency of CEO compensation disclosures”, Finance-Contrôle-Stratégie, Vol.1, n°2, PP.17-88.
CHAU, G, K, GRAY, S, J, (2002), « Ownership structure and corporate voluntary disclosure in Hong Kong and Singapore », The International Journal of Accounting,, 37(2), pp. 247-265.
EL-GAZZER, S, (1998), “Cross predisclosure information and institutional ownership: A cross-sectional examination of market revaluation during earnings announcement periods”, Accounting Review, Vol.73, n°1, pp.119-129.
ENG, L, L, MAK, Y, T, (2003), “Corporate governance and voluntary disclosure”, Journal of Accounting and Public Policy, Vol.22, pp.325-345.
EPSTEIN, M, FREEDMANN, M, (1994), “Social disclosure and individual investor“, Accounting, Auditing and Accountability Journal, Vol. 7, n°4, pp. 94-109.
FAMA, E, JENSEN, M, (1983), « Separation of Ownership and Control », The Journal of Law And Economics, 26, June, pp. 301-326.
FORKER, J, (1992), “Corporate governance and disclosure quality” , Accounting and Business Research, Vol. 22, pp.111-124.
GINGLINGER, E, (2002), “L’actionnaire comme contrôleur », Revue Française de Gestion, Vol.28, n°141, pp.37-56.
GUIMARD, A, (2001), La communication financière, Economica.
HANIFFA, R, COOKE, T, (2000), Culture, corporate governance and disclosure in Malaysian corporations, Document de travail.
HARTE, G, F, LEWIS, OWEN, D, L, (1991), «Ethical investment and the corporate reporting function », Critical Perspective and Accounting, Vol.2, n°2, pp.227-254.
HO, S, M, WONG, K, S, (2001), « A study of the relationship between Corporate Governance structures and the extent of voluntary disclosure », Journal of International Accounting, Auditing and Taxation, 10, pp.139-150.
JENSEN, M, C, MECKLING, W, (1976), “Theory of the firm, managerial behaviour, agency costs and ownership structure”, Journal of Financial Economics, October, pp.305-360.
JENSEN, M, C, (1993), “The moderm industrial revolution, exit and the failure of internal control systems”, Journal of Finance, Vol. 48, n°3, PP.831-880.
LABELLE, R, SCHATT, A, (2005) “Structure de propriété et communication financière des entreprises françaises”, Finance Contrôle Stratégie, 8(3), septembre, pp.77-104.
LACOMBE-SABOLY, M, (1994), Les déterminants de la qualité des produits comptables des entreprises : le rôle du dirigeant, Thèse de Sciences de Gestion, Université de Poitiers.
LEFTWICH, R, WATTS, R, ZIMMERMAN, J, (1981), “Voluntary corporate disclosure: the case of interim reporting”, Journal of Accounting Research, Supplement n°19, pp.50-77.
LEGER, J, (2003), La communication financière, Dunod, Paris.
ONNEE, S, RAHMA, C, (2005), « l’évolution de la communication financière dans le processus de gouvernance : Le cas saint Gobain », http : www.univer-orléans.fr / DEG / .OG.
PICHARD-STAMFORD, J, P, (2002), « L’enracinement des dirigeants familiaux », in G. Hirigoyen et J. Caby, la gestion de l’entreprise familiale, éd. Economica, Paris, pp.57-80.
RAJAN, R, SERVAES, H, ZINGALES, L, (2000), “The cost of diversity: the diversification discount and inefficient investment”, The Journal of Finance, 55, Vol.1, pp.35-81.
REBERIOUX, A, (2003), Evolution de la gouvernance d’entreprise et financiarisation du rapport salarial, Document de travail, ATER, Université de Paris X-Nanterre, Forum.
SHLEIFER, A, VISHNY, R, W, (1997), «A survey of corporate governance”, Journal of Finance, 52(2), pp. 737-783.
WRIGHT, (1996), « Evidence of the relation between corporate governance characteristics and the quality of financial reporting », Working paper, University of Michigan.
YERMARK, D, (1996), “Higher market valuation of companies with a small board of directors”, Journal of Financial Economics, 40, PP.185-211.
ZHARA, S, A, PEARCE, J, A, (1989), “Board of director and corporate financial performance”, Journal of Management, n°15, PP.291-334.
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Published
2011-04-04
How to Cite
NGONGANG, D. (2011). Governance and Practices of Financial Communication: An Empirical Study in Cameroonian Companies. Journal of Academic Finance, 2(1). https://doi.org/10.59051/joaf.v2i1.11
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