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The determinants of HC disclosures of Indian firms

机译：印度公司的HC披露的决定因素

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Purpose - Human capital (HC) disclosures by firms are voluntary as per the GAAPs in most of the countries including India. Therefore, a wide discrepancy exists across Indian firms with respect to their HC disclosures. This paper aims to investigate the extent and determinants of HC disclosure levels of the Indian listed firms in a two-stage analysis. Design/methodology/approach - In the first stage, a 12-item index is developed and is used to measure the extent of HC disclosures of 97 listed firms. In the second stage, a regression analysis is carried out to ascertain the determinants of HC disclosure levels of the Indian listed firms. Findings - The results point out that HC disclosure levels have high variations among the sample firms with information technology firms having highest average HC disclosure levels. Further, regression results indicate that a firm's "size" and "employees' expenses as a proportion of its total operating expenses" have a significant positive bearing on its level of HC disclosure, and "industry affiliation", "globalisation", "profitability", "ownership concentration", "age", "structural complexity", "leverage" and "auditor reputation" do not have significant influence on its level of HC disclosure. Research limitations/implications - This study follows a cross sectional design. A longitudinal study would have the potential to determine any pattern of changes in extent of HC disclosures over time. Index construction involves subjective judgment. The study assumes that the annual reports are the primary documents available to stakeholders requiring information about the firms. Practical implications - The HC disclosure index constructed in this study can be used as a benchmark by the Indian firms to enhance their HC disclosures in future. It can be an aid to the regulators as and when they decide on an accounting standard for HC disclosures. The extent of HC disclosure of individual firms measured by this study can be used by the investors to identify the Indian firms which disclose more HC information. The determinants of HC disclosures can be used by the investors in identifying the other Indian firms (not in the study sample) which potentially may have high HC disclosures. Originality/value - The study adds to the existing literature by constructing a suitable index to measure the level of HC disclosures in the annual reports of the Indian listed firms. Further, this is the first ever study to investigate the extent and determinants of HC disclosures of Indian listed firms. This study empirically validates a new proposition which has never been tested by any of the existing studies. The new proposition validated is: firm's "employee expenses as a proportion of its total operating expenses" has a significant positive bearing on its level of HC disclosures. Additionally this is the first ever study to use Poisson regression to ascertain determinants of HC disclosure practices.
机译：目的-根据GAAP，在包括印度在内的大多数国家，公司的人力资本（HC）披露都是自愿的。因此，印度公司在HC披露方面存在很大差异。本文旨在通过两阶段分析来调查印度上市公司的HC披露水平的程度和决定因素。设计/方法/方法-在第一阶段，开发了12个项目的索引，该索引用于衡量97家上市公司的HC披露程度。在第二阶段，进行回归分析以确定印度上市公司的HC披露水平的决定因素。调查结果-结果指出，样本样本公司的HC披露水平差异很大，而信息技术公司的平均HC披露水平最高。此外，回归结果表明，公司的“规模”和“雇员的费用占其总运营费用的比例”对其HC披露水平以及“行业从属关系”，“全球化”，“盈利能力”具有显着的正向影响。 ，“所有权集中度”，“年龄”，“结构复杂性”，“杠杆”和“审计师声誉”对其HC披露水平没有重大影响。研究的局限性/意义-本研究遵循横断面设计。纵向研究将有可能确定HC披露程度随时间变化的任何模式。指标构建涉及主观判断。该研究假设年度报告是需要有关企业信息的利益相关者可获得的主要文件。实际意义-这项研究中构建的HC披露指数可以被印度公司用作提高未来HC披露的基准。当监管机构决定HC披露的会计准则时，它可以为监管机构提供帮助。投资者可以利用本研究衡量的单个公司的HC披露程度来确定披露更多HC信息的印度公司。投资者可以使用HC披露的决定因素来确定可能具有较高HC披露的其他印度公司（不在研究样本中）。原创性/价值-该研究通过建立一个合适的指数来衡量印度上市公司年度报告中的HC披露水平，从而增加了现有文献。此外，这是有史以来第一个研究印度上市公司的HC披露程度和决定因素的研究。这项研究从经验上验证了一个新的命题，该命题从未被任何现有研究检验过。经验证的新提议是：公司的“雇员费用占其总运营费用的比例”对其HC披露水平具有显着的正向影响。此外，这是有史以来第一个使用Poisson回归确定HC披露实践决定因素的研究。

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