The Relationship Between the Intellectual Capital Disclosure and Cost of Debt Capital – A Case of Slovenian Private Audited Organisations
Povzetek
Dosedanje empirične raziskave, ki so preverjale povezave med razkritji o intelektualnem kapitalu organizacij in ceno njihovih dolgov, so zelo redke oziroma so izvedene izključno na vzorcu (velikih) organizacij, ki kotirajo na borzi. Ker lahko agencijski problem obstaja med poslovodstvom/lastniki in posojilodajalci tudi v takšnih (večjih) privatnih organizacijah, katerih financiranje je v veliki meri odvisno od posojil in katerih revidirana letna poročila lahko predstavljajo vir dodatnih informacij za zunanje uporabnike, smo s predmetno empirično raziskavo iskali odgovor na vprašanje, ali je stopnja razkritij o intelektualnem kapitalu ter njegovih sestavinah povezana s ceno dolgov, na primeru vzorca privatnih slovenskih organizacij z revidiranimi letnimi poročili. Rezultati raziskave niso pokazali, da bi posojilodajalci pri določanju cene dolgov slovenskim privatnim revidiranim organizacijam upoštevali razkritja o njihovem intelektualnem kapitalu kot informacijo o potencialu za njihove bodoče denarne tokove.
Prenosi
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