Mandatory accounting disclosure by small private companies |
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Authors: | Benito Arruñada |
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Institution: | (1) Department of Economics and Business, Pompeu Fabra University and Barcelona GSE, Trias Fargas, 25, 08005 Barcelona, Spain |
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Abstract: | This article analyzes how mandatory accounting disclosure is grounded on different rationales for private and public companies.
It also explores technological changes, such as computerised databases and the Internet, which have recently made disclosure
of company accounts by small companies potentially less costly and more valuable, thanks to electronic filing and universal
online access to credit information systems. These recent developments favour policies that would expand the scope of mandatory
publication for small companies in countries where it is voluntary. They also encourage policies to reduce the costs and enhance
the value of disclosure through administrative reforms of filing, archive and retrieval systems. Survey and registry evidence
on how the information in the accounts is valued and used by companies is consistent with these claims about the evolution
of the tradeoff of costs and benefits that should guide policy in this area. |
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Keywords: | |
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