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عنوان فارسی مقاله:
محرکان افشای مالی و اجتماعی توسط پس انداز و تعاونی های اعتباری در کنیا: دیدگاه مدیریتی
عنوان انگلیسی مقاله:
Drivers of financial and social disclosure by savings and credit cooperatives in Kenya: A managerial perspective
سال انتشار : 2016
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مقدمه انگلیسی مقاله:
1. Introduction
This study investigates managerial perspectives on the rationale and drivers of financial, social, strategic, governance and environmental disclosure in the annual reports of savings and credit cooperatives (SACCOs) in Kenya.1 Studies on cooperative disclosure and accountability have largely focused on annual report readership (Lord, Shanahan, & Robb, 2005; Shanahan, Lord, & Robb, 2007), financial accountability in credit unions (Hyndman & McKillop, 2004; Hyndman, McKillop, Ferguson, & Wall, 2004), determinants of voluntary disclosure of bad loans in small credit associations (Mathuva, Memba, & Mboya, 2015; Spiegel & Yamori, 2004) and disclosure framework for credit unions (McGrath, 2008). However, sparse literature exists on managerial perspectives on financial, social and other voluntary disclosures by cooperatives. Whereas studies such as Hyndman et al. (2004) and Hyndman and McKillop (2004) examine financial disclosures by credit unions in Ireland and the U.K. respectively, the inquiry performed is basic and does not reflect the disclosure of wider social information by credit unions. Therefore, the present study examines a broader spectrum of financial, social and other voluntary disclosures by credit unions in a developing country from a managerial perspective. The study focuses on credit union managers (supply-side of disclosure) because managers are responsible for preparing the disclosures and can influence disclosure decisions (McFie, 2006). Lord et al. (2005) find that an important function of SACCOs’ annual report is to provide members with an indication of the value of the cooperative and the fair value of their shares. Lord et al. (2005) find profit as an important aspect that is of interest to majority of SACCO members when reading the annual reportDespite the governance and transparency challenges faced by SACCOs in Kenya, the SACCO sector in Kenya is ranked first in Africa in terms of savings and asset base (Mathuva et al., 2015). The regulator and the accounting professional body have made efforts to improve accountability in Kenya’s SACCO sector through enforcement of disclosure regulations and development of disclosure guidelines for SACCOs. However, accountability and compliance levels by SACCOs in Kenya have been remarkably low, motivating an investigation into the level and drivers of disclosure by SACCOs in Kenya from a managerial perspective. Among the reasons for the low disclosure quality include lack of qualified and experienced accountants to prepare financial statements which has affected the quality of reporting in the sector (Irungu, 2013). Despite the existence of regulations, Ahmed and Nicholls (1994) argue that the annual reports do not fully comply with disclosure requirements required by regulatory agencies. Al-Razeen and Karbhari (2004) argue that even in the presence of regulation, full disclosure is not guaranteed. This might lead to poor disclosure compliance. Further, regulators often mandate organizations to disclose mainly financial (and at times governance) information. According to Mook, Quarter, and Richmond (2007), organizations can engage in other disclosures that are largely voluntary in nature. This paper examines the level of financial, social and other voluntary disclosures, with a view to establishing the level of compliance by SACCOs. The study also aims to establish the current extent of disclosure of voluntary social, strategic, governance and environmental information from a managerial perspective. Therefore, this paper analyses the perspectives of SACCO managers on disclosures, with a view to understanding the current disclosure level, rationale and possible drivers. To achieve this, questionnaires are issued to a sample of 215 deposit-taking SACCOs operating in Kenya as of 31 December 2013. Financial data are also collected from the annual reports of sampled SACCOs. The results reveal that SACCO disclosures are mainly addressed to members and regulator. Further, SACCO managers provide disclo.sures to comply with regulators and improve the image of SACCOs. The findings reveal that SACCOs provide financial, social, strategic and governance disclosures, whose intensity is influenced by the regulator, guidelines issued by the professional accounting organization in Kenya, governance and resources. The rest of the paper is organized as follows. Section 2 presents a discussion on the institutional background while Section 3 provides a review of literature and potential drivers of disclosure. Section 4 presents the methodology adopted while Section 5 discusses the study’s results. Finally, Section 6 concludes.
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کلمات کلیدی:
Drivers of Financial and Social Disclosure by Savings and ... - SSRN https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2888397 by D Mathuva - 2016 - Cited by 5 - Related articles Dec 22, 2016 - This study analyses managerial perspectives on the rationale and drivers of disclosures by deposit-taking savings and credit cooperatives ... Drivers of financial and social disclosure by savings ... - ResearchGate https://www.researchgate.net/.../306290204_Drivers_of_financial_and_social_disclosure... Dec 1, 2016 - Drivers of financial and social disclosure by savings and credit cooperatives in Kenya: A managerial perspective on ResearchGate, the ... [PDF]Social Disclosure and Cost of Equity in Public Companies in ... - SciELO www.scielo.br/pdf/rcf/v24n62/en_03.pdf by RS Gonçalves - 2013 - Related articles externalities and bring economic benefits through the negative relationship with the ... of equity and level of social disclosure, indicating that the Brazilian stock ..... Drivers. Highlighted items. Past Information. Evaluation (Ramanathan, 1976). Corporate social disclosure by financial institutions in Malaysia: A ... repo.uum.edu.my/8933/ by A Hamid - 2002 - Cited by 1 - Related articles Sep 11, 2013 - Corporate social disclosure by financial institutions in Malaysia: A ... and financial analysts found that non-financial value drivers and qualitative ... David Mathuva- SACCOs Financial and Social Disclosures www.strathmore.edu/.../researcher-of-the-month-david-mathuva-saccos-financial-and... I am currently pursuing my PhD where I am researching; The Drivers of Financial and Social Disclosure Practices by Savings and Credit Co-operatives ... Drivers of Environmental Disclosure and Stakeholder Expectation ... link.springer.com/article/10.1007/s10551-010-0476-3 by CL Huang - 2010 - Cited by 163 - Related articles Apr 7, 2010 - Abstract. This article investigates stakeholder expectations associated with corporate environmental disclosure. Several articles have studied ... [PDF]CORPORATE SOCIAL RESPONSIBILITY: OPPORTUNITIES ... ijek.org/files/IJEK_1-2013v1/ijek_1-2013,v.1_ghasemi,s.nejati,m..pdf by S GHASEMI - Cited by 3 - Related articles Corporate social responsibility, CSR drivers, CSR barriers, Developing ... as between corporate social disclosure and financial performance However, the link. [PDF]Drivers of corporate social responsibility reporting - International ... thejournalofbusiness.org/index.php/site/article/viewFile/186/185 KEY WORDS: Corporate Social Responsibility, CSR Reporting, Drivers, Social ... using social and environmental disclosures in annual reports to manage public ... The Driving Forces Behind Malaysian Corporate Social Reporting ... www.emeraldinsight.com/doi/pdf/10.1108/19852510480000663 by M Mohamed Zain - 2004 - Cited by 14 - Related articles Citation: Mustaffa Mohamed Zain, (2004) "The Driving Forces Behind Malaysian Corporate Social Reporting", Journal of Financial Reporting and Accounting ...
