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Economic efficiency and the role of financial disclosure
Michael R Baird,
Dalhousie University
Kristen Decaney, University of Sasketchawan
Sarah L Olivier, PricewaterhouseCoopers
ABSTRACT. The interaction between financial accounting disclosures and economics efficiency are analysed using data from 39 countries. The measures used to determine the level of financial accounting disclosure were: the CIFAR index; accruals over total lagged assets; availability of information; financial disclosure; and financial regulation and supervision. The results lead to the conclusion that certain measures of financial accounting disclosure are correlated with both technical and allocative efficiency across countries. Additionally, a causal relationship can be established between accruals over total lagged assets and allocative efficiency.
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