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All Journal The International Journal of Accounting and Business Society
Theo Christopher
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Voluntary Environmental Disclosure by Australian Listed Mineral Mining Companies: An Application of Stakeholder Theory Christopher, Theo; Hutomo, Sigit; Monroe, Gary
The International Journal of Accounting and Business Society Vol 5, No 1 (1997): The International Journal of Accounting and Business Society
Publisher : Accounting Department,

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Within the stakeholder theory framework this paper examines the extent of voluntary environmental disclosure (ED) in relation to characteristics of Australian listed mineral mining firms. Three indexes, words, unweighted and weighted index, are calculated to measure the association of total ED and categories of total ED with firm characteristics within the three dimensions of stockholder theory. We find that the three indexes for total ED and categories of disclosure are significantly associated. Consequently, a single construct is employed as a surrogate for the indexes. The result of Ordinary Least Squares Regression of this construct as a dependent variable with ownership diffusion, financial leverage and membership of the Australian Mining Industry Council (AMIC) as proxies for stakeholder power; the presence of a corporate environmental committee as a proxy for strategic posture; retum on equity and systematic risk as proxies for economic performance ; and firm size and commercial production as control variables showed that membership of AMIC and size were statistically significant. The implication of this finding is that financial variables do not explain voluntary ED and that the variables used in the strategic posture and economic performance dimensions of stakeholder theory are not significant. This implies, subject to limitations of the study, that the regulators of accounting infonnation will need to issue an accounting standard if they
Lease Accounting in Australia: Further Empirical Evidence Hassan, Salleh; Christopher, Theo
The International Journal of Accounting and Business Society Vol 6, No 2 (1998): The International Journal of Accounting and Business Society
Publisher : Accounting Department,

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Key words: Australia; Accounting standard; Efficient contracting; Lease accounting; Signalling The objective of this study is to examine the economic factors motivating Australian listed lessee firms to adopt capitalization of finance leases policy from 1985 to 1987 as permitted by the transitional provision of AAS 17. Capitalization is considered as the preferred accounting policy for finance leases compared to footnote disclosure. Adopting a joint efficient contracting and quality signaling perspective, support for the research hypotheses would be construed as suggesting that capitalization is a means for lessee firms to reduce or mitigate agency and/or political costs and concurrently as a signal to the market that they are better quality firms. The sample consists of3l4 lessee firms; 67 firms as capitalizers and 247 firms as non-capitalizers. A pooled multivariate cross—sectional analysis for 1985 to 1987 was performed incorporating sensitivity analysis to determine the “best” logistic regression model. This model was then assessed to determine its validity and predictive efficacy. the results provide evidence that lessee firms adopted the capitalization as response to the media attention as being politically visible firms and concurrently as a signal to the market that they are better quality firms. The evidence also suggests limited usefulness of a lengthy transitional period.
Co-Authors Gary Monroe Salleh Hassan Sigit Hutomo