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Business Disclosure and Reporting Practices - Study of Listed Indian Companies in Fortune 500

Year 2016
Volume/Issue/Review Month Vol. - IX | Issue II | July - December
Title Business Disclosure and Reporting Practices - Study of Listed Indian Companies in Fortune 500
Authors Dr. (Mrs.) Twinkle Prusty , Alok Kumar
Broad area Business Disclosure and Reporting Practices - Study of Listed Indian Companies in Fortune 500
Abstract
Purpose: Better disclosure through responsible reporting keep stakeholders better informed about the way a company
is being managed. The foundation of any composition of corporate governance is disclosure and reporting. This
study examines the disclosure and responsible reporting practices adopted by Indian companies listed in Fortune
top 500 companies along with the extent and compliance of business responsibility report in their annual reports.
Methodology: This paper relies on secondary data collected from different web sources and annual reports of the
selected companies for the period 2014-15. In order to examine the extent of disclosure practices a composite
disclosure index score has been calculated. The information of disclosure in the annual reports of the companies is
categorized into different sub-categories: Governance disclosures and disclosures in Business Responsibility Report
have been considered for the study. Index of disclosures in corporate governance (Board of Directors, Board Meeting
and Independent directors) and Business Responsibility Report disclosures consisting of 77 items was constructed.
Bivariate Analysis (Parametric test) ANOVA has been used to generalize the hypothesis. All the assumption namely
test of normality (Kolmogorov-Smirnov Test) and homogeneity of variance have been also verified.
Description Corporate governance is all about maximizing shareholder value legally, ethically and sustainably. Good corporate governance includes a vigilant board of directors, sensible disclosures and adequate reporting of meaningful information about the board and
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