Consolidation accounting disclosures: An empirical study of the association between national cultural values and accounting practices in ten countries of the Asian-Pacific region

Abstract

Consolidation accounting disclosures in corporate annual reports vary from country to country. In this study the association of these variations with national cultural values is investigated using a contingency theory framework and multiple regression analysis. Annual reports from a sample of one hundred and eighty four corporations headquartered in the following ten countries in the Asian-Pacific region are examined to provide evidence of the above association: Australia, Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand. The results from the multiple regression analysis provide support for the hypotheses investigated concerning the association of national cultural values with consolidation disclosure practices.