... reporting credibility cannot be assumed. By demonstrating that audit lag both affects investor outcomes and conditions how earnings are interpreted, the study extends agency theory and signaling theory and provides practical insights for regulators, auditors and investors operating in similar emerging...

... financial and nonfinancial disclosures. Furthermore, the value relevance of financial information is significantly higher for firms that have adopted integrated reporting than for those that have not. Practical implications Our evidence supports signaling theory, suggesting that compliance...

.... Findings This paper provides empirical evidence of signaling theory that sentiment of annual reports and MD&A influences corporate decisions on both M&A and internal investments. The authors found that comparing to annual reports MD&A sentiment has more stable and significant explanatory...