Toward a Conceptual Framework for Analyzing Accounting Disclosure

カイケイ　ジョウホウ　カイジ　ブンセキ　ノ　キホンテキ　ワクグミ　ニ　ムケテ

タカオ, ヒロジ

Takao, Hiroji

The Economic Society of Osaka University

オオサカ　ダイガク　ケイザイ　ガッカイ

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Accounting information

Corporate disclosure

Financial Reporting and Disclosure have potentially broad and complex effects on corporate production-investment policies, investor decisions and market pricing. We provide a conceptual framework for identifying and analyzing the economic effects of accounting disclosure, mainly based on the conceptual framework in Kanodia（2006）. Contrasted with Kanodia（2006）framework, our disclosure framework explicitly focuses on an“intrinsic” cash flow which intermediate between a corporate sector and a financial / household sector in a real world, and aggressively separates a information sector（including accounting information）from the real world consisting of the corporate sector and the financial sector. Our framework has resulted in wholly emphasizing a role of accounting information in an economy relative to Kanodia（2006）framework.