Abstract: Study investigates the level and extent of voluntary disclosure practice in Croatia. The research was conducted on the sample of 130 medium and large companies. Findings indicate that two thirds of the companies analyzed disclose below-average number of additional information. The explanatory analyses has shown that firm size, listing status and industrial sector significantly and positively affect the level and extent of voluntary disclosure in the annual report of Croatian companies. On the other hand, profitability and ownership structure were found statistically insignificant. Unlike previous studies, this paper deals with level of voluntary disclosure of medium and large companies, as well as companies whose shares are not listed on the organized capital market, which can be found as our contribution. Also, the research makes contribution by providing the insights into voluntary disclosure practices in Croatia, as a case of macro-oriented accounting system economy, i.e. bank oriented economy with an emerging capital market.
Abstract: This study examines the relevance of disclosure
practices in improving the accountability and transparency of
religious nonprofit organizations (RNPOs). The assessment of
disclosure is based on the annual returns of RNPOs for the financial
year 2010. In order to quantify the information disclosed in the
annual returns, partial disclosure indexes of basic information (BI)
disclosure index, financial information (FI) disclosure index and
governance information (GI) disclosure index have been built which
takes into account the content of information items in the annual
returns. The empirical evidence obtained revealed low disclosure
practices among RNPOs in the sample. The multiple regression
results showed that the organizational attribute of the board size
appeared to be the most significant predictor for both partial index on
the extent of BI disclosure index, and FI disclosure index. On the
other hand, the extent of financial information disclosure is related to
the amount of donation received by RNPOs. On GI disclosure index,
the existence of an external audit appeared to be significant variable.
This study has contributed to the academic literature in providing
empirical evidence of the disclosure practices among RNPOs.