The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes

Michael Gibbins; Alan J. Richardson; John H. Waterhouse

doi:10.2307/2491219

January 1, 1990Journal of Accounting Research

The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes

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Key Points

To develop a comprehensive grounded theory and empirical framework explaining how corporate managers manage external financial disclosure decisions and processes.
Field-based qualitative study utilizing semi-structured interviews with senior corporate officers, financial executives, and disclosure advisors across multiple public corporations.
Inductive analysis of corporate reporting practices to identify key internal structures, external pressures, and behavioral drivers shaping disclosure strategies.
Identifies a dual-structure framework showing corporate disclosure is driven by a stable disclosure position characterized by ritualism (routine compliance) and opportunism (strategic timing and framing).
Demonstrates that internal structures, including established policies, specialized consultants, and formal review processes, mediate external regulatory and market pressures.

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Implication

Qualitative field research reveals structural processes governing corporate disclosure in public firms, highlighting the balance between routine compliance and strategic opportunism.

Abstract

Michael Gibbins, Alan Richardson, John Waterhouse, The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes, Journal of Accounting Research, Vol. 28, No. 1 (Spring, 1990), pp. 121-143

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Gibbins et al. (1990) studied this question.

synapsesocial.com/papers/6a10a59042b7486443ff34b6 https://doi.org/10.2307/2491219

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The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes

Key Points

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Implication

Abstract

Discussion

Cite This Study

The Management of Corporate Financial Disclosure: Opportunism, Ritualism, Policies, and Processes

Key Points

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Implication

Abstract

Discussion

Cite This Study

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