We investigate compliance by the largest 20 Australian listed firms with regulatory requirements to disclose key assumptions and major sources of estimation uncertainties. These relate to accounting estimates that require management's judgement in measuring the carrying amount of the entity's...

The authors review recent literature on the role of corporate financial reporting and transparency in reducing governance-related agency conflicts between managers, directors, shareholders, and other stakeholders—most notably financial regulators—and suggest some avenues for future research....

A growing literature documents that complex financial statements negatively affect the information environment. In this paper, we examine whether managers use voluntary disclosure to mitigate these negative effects. Employing cross-sectional and within-firm designs, we find a robust positive...