RESEARCH NOTES/NOTES DE RECHERCHES: The impact of reform in Canadian state‐owned enterprises on voluntary disclosure in annual reports
Bibliographic record
Abstract
Abstract: This study examines the impact of reform in Canadian state‐owned enterprises (SOES) on the level of information disclosure in their annual reports. Reform in SOES encompasses two critical stages: commercialization and privatization. Commercialization instils into SOES common principles and practices typical of the private sector. As a result, the mandate of the firm shifts away from social towards profitability objectives. Privatization refers to the legal transfer of public ownership to private hands. The author argues that SOE reform leads to greater information asymmetries between management and stakeholders (creditors and shareholders), increasing financial costs for businesses. In accounting literature, this factor is considered a component that positively influences disclosure. The study's findings support such a proposition. More precisely, the results suggest that commercialization and privatization do provide incentive for managers to disclose additional information in their annual reports. Most of the incremental disclosure is financial. Sommaire: Cette étude examine les répercussions de la réforme menée dans les sociétés d'État canadiennes sur le niveau d'information présentée dans leurs rapports annuels. La réforme dans les sociétés d'État comporte deux étapes critiques: la commercialisation et la privatisation. La commercialisation inculque aux sociétés d'État des principes et pratiques propres au secteur privé. I1 en résulte que le mandat de la société d'État se détourne des objectifs sociaux pour ne viser que la rentabilité. Par privatisation, on entend le transfert juridique de la propriété publique entre les mains d'intérêts privés. L'auteur prétend que la réforme dans les sociétés d'État entraîne de plus grandes asymétries dans I'information fournie par la direction et celle foumie par les parties intéressées (créanciers et actionnaires), ce qui accroît les coûts financiers pour les entreprises. Dans la documentation sur la comptabilité, ce facteur est considéré comme un élément d'influence positive sur la présentation de I'information. Les résultats de I'étude soutiennent cette thése. Plus préisiément, les
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.007 | 0.008 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.002 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".