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An assessment of Information disclosures by Pharmaceutical Industry: Evidence from India

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An assessment of Information disclosures by Pharmaceutical Industry: Evidence from India

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dc.contributor.author Khanna, Rupali es_ES
dc.contributor.author Chahal, Bhupinder Pal Singh es_ES
dc.date.accessioned 2019-10-08T07:43:21Z
dc.date.available 2019-10-08T07:43:21Z
dc.date.issued 2019-10-03
dc.identifier.uri http://hdl.handle.net/10251/127682
dc.description.abstract [EN] The information disclosed by the companies in their annual reports reveals much about company’s performance and prospects. Investors take the information as base for decision for investment. Under such circumstance, companies choose to disclose beyond what is mandatorily required. Theories like agency theory, capital need theory and signaling theory support the need of voluntary disclosure. This study is about investigating the extent of Voluntary disclosure in pharmaceutical sector of India which is 3rd in World in terms of Volume of Trade.Objective: To investigate the extent of voluntary disclosure practices prevailing in pharma sector of India, for the year 2010-11 to 2017-18.Significance of the study: This study aims to explore the corporate aspect of pharmaceutical sector. Any growing avenue is a potential opportunity for investors looking for parking their money to get adequate returns. Thus, Indian Pharma sector has come up in flying colors as an avenue for investors to place their money owing to its 100% FDI . Investors have been looking for more and more information from this sector to ensure the safety of funds. Thus the extent of disclosures is worth studying to place a suggestion for the policymakers to introduce the changes in the present set of disclosure practices in pharmaceutical sector.Research Methodology: To understand the extent of voluntary disclosure, a disclosure checklist is constructed and descriptive statistics are carved out to reach the results. The checklist consists of 55 items which are not mandatory by law. The checklist is based on dichotomous scale of ‘1’ and ‘0’ representing presence and absence of the checklist item respectively. The cross sectional analysis is carried out to investigate the year wise and company wise disclosure for eight years.Findings: Though the study observes an increasing trends in the disclosure scores, but the findings are alarming to state that the highest score attained by any company throughout the period of 8 years was 37 (out of 55) not even meeting 80% of the total checklist score. This shows that pharmaceutical sector is not so friendly at disclosures. The probable reasons for such startling results are discussed in the study. es_ES
dc.language Inglés es_ES
dc.publisher Universitat Politècnica de València
dc.relation.ispartof Multidisciplinary Journal for Education, Social and Technological Sciences
dc.rights Reconocimiento - No comercial - Sin obra derivada (by-nc-nd) es_ES
dc.subject Disclosure es_ES
dc.subject Volatility es_ES
dc.subject Pharma listed companies es_ES
dc.title An assessment of Information disclosures by Pharmaceutical Industry: Evidence from India es_ES
dc.type Artículo es_ES
dc.date.updated 2019-10-08T07:03:16Z
dc.identifier.doi 10.4995/muse.2019.11531
dc.rights.accessRights Abierto es_ES
dc.description.bibliographicCitation Khanna, R.; Chahal, BPS. (2019). An assessment of Information disclosures by Pharmaceutical Industry: Evidence from India. Multidisciplinary Journal for Education, Social and Technological Sciences. 6(2):147-174. https://doi.org/10.4995/muse.2019.11531 es_ES
dc.description.accrualMethod SWORD es_ES
dc.relation.publisherversion https://doi.org/10.4995/muse.2019.11531 es_ES
dc.description.upvformatpinicio 147 es_ES
dc.description.upvformatpfin 174 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.description.volume 6
dc.description.issue 2
dc.identifier.eissn 2341-2593
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