Proceedings

to book ratio, size, profitability and industry type) in the context of management
accounting and the availability of internal IC information, the authors developed a
questionnaire that was posted to managers of Malaysian companies. It is found that
industry and size are not significantly related to the availability of internal IC
information in Malaysian companies.
Table 1 below presents a summary of the features of the studies concerned with the
determinants of ICD.
Table 1. Feature of studies analysing the determinants of ICD
Authors Year Country Size
Industry
type
Info
Auditor Listing Foreign
Asymmetr Leverage Ownership Age Profitability Nationality type Status Activity
~ 400 ~
Business Business Techn
Complexit Strategy Adv
P. R. Beaulieu et al. 2002 Sweden yes no n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
S. Bozzolan et al. 2003 Italy yes yes n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Garcıa-Meca et al. 2005 Spain yes no n/a no n/a n/a no n/a n/a yes n/a n/a n/a n/a
S. Bozzolan et al. 2006 Italy and UK yes yes n/a no no n/a no no n/a n/a n/a n/a n/a n/a
L. Oliveira et al. 2006 Portugal yes yes n/a no yes n/a no n/a yes yes no n/a n/a n/a
G. Boesso and K.
Kumar
2007
Italy and United
States
yes yes n/a n/a n/a n/a n/a n/a n/a n/a n/a yes n/a n/a
G. White et al. 2007 Australia yes n/a n/a yes yes n/a no n/a n/a n/a n/a n/a n/a n/a
A. Brüggen et al. 2009 Australia yes yes no n/a n/a n/a n/a no n/a n/a n/a n/a n/a n/a
R. Orens et al. 2009
Belgium,
France,
Germany and
The Netherlands
yes n/a yes yes n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
G. Rimmel et al. 2009 Japan no no n/a n/a yes yes n/a n/a n/a n/a n/a n/a n/a n/a
G. White et al. 2010 Australia & UK yes n/a n/a no n/a n/a n/a yes n/a n/a n/a n/a n/a n/a
C. C. Huang et al. 2010 Malaysia no no n/a n/a n/a n/a no n/a n/a no n/a n/a yes yes
M. C. Branco et al. 2011 Portugal yes yes n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Total studies where the
variable was tested
13 10 2 6 4 1 5 3 2 3 1 1 1 1
Total studies where the
variable influences ICD
11 6 1 2 3 1 0 1 2 2 0 1 1 1
% Studies where variable was
tested/Total Studies
% Studies where variable
100% 77% 15% 46% 31% 8% 38% 23% 15% 23% 8% 8% 8% 8%
influences/Total Studies
variable was tested
85% 60% 50% 33% 75% 100% 0% 33% 100% 67% 0% 100% 100% 100%
Legend:
yes means that the variable was tested and that it influences ICD;
no means that the variable was tested but that it does not influences ICD;
n/a means that the variable was not tested
According to the mixed results obtained by previous studies we can observe that the
determinants of ICD are not clearly shown, yet. In addition, Romanian companies
were not the subject of a similar study at all. Like studies made by Beaulieu et al.
(2002), Bozzolan et al. (2003; 2006), Garcıa-Meca et al. (2005), Oliveira et al. (2006),
Boesso and Kumar (2007), Bruggen et al. (2009), Orens et al. (2009), Branco et al.
(2011) we propose that company size is an important factor for IC disclosure in the
case of Romanian companies as larger companies can afford the cost to provide this
voluntary information. In addition, size is the most commonly used independent
variable as all 13 studies reviewed (see Table 1) considered it in their analysis and
85% of the studies showed that there is a positive correlation between the size of the
company and the level of ICD. All these arguments lead to our first null hypothesis:
H1: There is no relation between company size and IC disclosure
Prior research has also noted that voluntary disclosures are influenced by industry
membership. It has been found that voluntary disclosures are more frequent and