An International Meeting of
the American Accounting Association

2005 Annual Meeting

August 7–10, 2005
San Francisco, California

Come to the City by the Bay!

Fredrik Ljungdahl
Jonkoping International Business School

Michael Thorstensson
Lund University

Abstract: The purpose of this paper is to explore how companies listed on the Stockholm stock exchange disclose corporate governance related information in their annual reports. Against the backdrop of recent corporate incidents involving accounting irregularities and managerial misconduct, this paper examines if and how companies operating in a Swedish business context have modified their disclosure behaviour in reaction to the increased public attention being paid to corporate governance issues. The study surveys voluntary corporate governance disclosures during the period 1999-2002, with a view to identifying and discussing changes in the type and amount of disclosure. The results indicate that there has been a significant increase in the relative volume of corporate governance information in annual reports during the period studied, suggesting that managers may be using disclosures as a tool to demonstrate conformance with social norms regarding corporate responsibility and forestall corporate governance regulation.

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