| Abstract [eng] |
Work purpose – to analyze the company, which shares traded in the stock-exchange market, disclosure of the financial statements and investigate this information causes and consequences of disclosure. Work consists of introduction, three chapters, conclusions and recommendations. In the first chapter based on different author's researches, discloses the advantages and disadvantages of disclosure of corporate financial statements, the problem of work on the impact of disclosure on various performance indicators of a company is cleared. In the second chapter scientific literature, for information disclosure issues questions, theoretical aspects of the impact of disclosure on company's activities are disclosed, an overview of the company's financial accounting and reporting disclosure models, results of analysis of theories explaining the disclosure of information are provided, and also an overview of the impact of information disclosures on enterprise performance indicators. In the third chapter are presented in the final study of a master's thesis, for the opinion of the heads of companies on the disclosure of information, results. Doing the company leader’s opinion research, was chosen a quantitative survey questionnaire survey method. In the survey participated 30 Leaders of companies listed on the Vilnius Stock Exchange according to the official and additional list. When was done the survey of company leaders, was established that the main motives, which encourages leaders to disclose information, are related to attracting investors. This would ensure lower capital costs and opportunities for enterprise development. That’s why the disclosure of information in general, promotes the trading of corporate shares on the stock exchange. The main information reasons for disclosure limitation is the reluctance to disclose commercial secrets and not attract additional attention from regulatory authorities. Higher information disclosure levels nor companies at lower disclosure level the disclosure of information is facilitated by the possibility of reducing the price of attracted capital, as confirmed by research by other researchers. Lower levels of disclosure of information by companies perform more than this disclosure, that to transfer external information users for their growth prospects. |
