{"id":12294,"date":"2014-06-24T09:47:50","date_gmt":"2014-06-24T07:47:50","guid":{"rendered":"https:\/\/hub.hslu.ch\/ifz\/?p=12294"},"modified":"2014-06-24T09:47:50","modified_gmt":"2014-06-24T07:47:50","slug":"internal-control-disclosure-and-agency-costs-evidence-from-swiss-listed-non-financial-companies","status":"publish","type":"post","link":"https:\/\/hub.hslu.ch\/ifz\/2014\/06\/24\/internal-control-disclosure-and-agency-costs-evidence-from-swiss-listed-non-financial-companies\/","title":{"rendered":"Internal Control Disclosure and Agency Costs – Evidence from Swiss listed non-financial Companies"},"content":{"rendered":"

\"3\"<\/a><\/p>\n

von\u00a0Stefan Hunziker<\/a>
\nStudiengangs- und Projektleiter am Institut f\u00fcr Finanzdienstleistungen<\/p>\n

An internal control system (ICS) is generally considered as a management tool that serves as a\u00a0means to achieve performance and profitability targets, and enhances the reliability of financial\u00a0reporting. Voluntary reporting on internal control may be viewed as a monitoring function to\u00a0reduce agency costs caused by divergent interests between management and shareholders. Yet,\u00a0there is no empirical research on the association between voluntary disclosure on internal\u00a0control and agency costs in Swiss companies.<\/p>\n

\u00a0\"2\"<\/a><\/p>\n

This paper explores internal control disclosures\u00a0within a sample of 91 Swiss listed non-financial company annual reports by developing an\u00a0internal control disclosure index. The main conclusion of the study is that four companyspecific\u00a0characteristics derived from agency theory do significantly explain the variability in\u00a0the level of voluntary disclosure on internal control, i.e. management ownership, blockholder\u00a0ownership, board size and leverage. Overall, agency cost theory seems to be a powerful theory\u00a0to explain voluntary disclosure strategies of Swiss companies.<\/p>\n

Read more in the IFZ Working Paper No. 0024\/2014 – click here<\/a>\u00a0to download<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

von\u00a0Stefan Hunziker Studiengangs- und Projektleiter am Institut f\u00fcr Finanzdienstleistungen An internal control system (ICS) is generally considered as a management tool that serves as a\u00a0means to achieve performance and profitability targets, and enhances the reliability of financial\u00a0reporting. Voluntary reporting on internal control may be viewed as a monitoring function to\u00a0reduce agency costs caused by divergent<\/p>\n","protected":false},"author":257,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[146],"tags":[],"class_list":["post-12294","post","type-post","status-publish","format-standard","hentry","category-forschung"],"acf":[],"yoast_head":"\nInternal Control Disclosure and Agency Costs - Evidence from Swiss listed non-financial Companies - 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