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Investment in Employees and Research and Development and the Signalling of Intellectual Capital by UK Listed Companies
2015
Asian Social Science
This paper examines the cross-sectional effect of investment in employees and investment in research and development on the extent of voluntary disclosure of intellectual capital of 443 FTSE All Share Index companies for the year 2003/2004. The extent of disclosure is measured by a disclosure index based on intellectual capital attributes included in the narratives and illustrations of the annual reports. The paper predicts that agency costs may be minimised through voluntary disclosure. In
doi:10.5539/ass.v11n21p148
fatcat:q6dp6n2dtba5rbvgkgxntfjhz4