Įmonės informacijos atskleidimo modelis
ENTITY'S INFORMATION DISCLOSURE: A MODEL

Summary/Abstract: Availability of information is alleged to be a key requirement for the efficient functioning of a company or markets. Rapid economic development, processes of globalization and integration, establishment of a single financial market, changes in entities and the way they are managed require creation of new approaches and methods for information analysis and evaluation. However, the importance of corporate information is not diminishing. Entity's information, its gathering, conversion and disposal is a complex phenomenon that integrates numerous scientific fields and practical areas such as finance, accounting, marketing, corporate management, public relations, economics, law. The analysis of scientific literature reveals that various papers address the issues of corporate information disclosure; however, they mostly analyze a single aspect or problem. Moreover, the literature analysis shows a lack of a credible theory which would facilitate the analysis and evaluation of entities' information disclosure. Although, a few integrated studies have been found (Verrechia, 2001; Healy, Palepu, 2001, Dye, 2001; Kothari, 2001). In the scientific literature two directions of the research in the field of entity's information disclosure are common: analytical (theoretical) papers (Ronen, Jaari, 1999; Suijs, 1999; Fishman, Hagerty, 1997; Baums, 2002; Colley et al., 2005; Allen, 2005; Cohen, 2002 and others) and empirical research papers (Botosan, 1997; Hope 2003; Hossain etal., 1995; Jun Lin, Wang, 2001; Fields et al., 2001; Globerman, Singleton, 2000; Rahman et al., 2002; Al-Razeen, Karbhari, 2004; Vanstraelen et al., 2003; Labelle, 2002; Ismail, 2002), which cover similar research topics, but employ different methods and tools of analysis, and report diverse findings. In this paper, findings of the both research directions are linked. The aim of the paper is to propose a model of the entity's information disclosure. To reach the goal of the paper scientific methods of analysis, integration, interpretation, synthesis have been engaged and scientific literature in economics, management, accounting, finance, law, computer science, logistics, public relations and other fields has been analyzed. The entity's information disclosure is defined as a process which is carried out in an entity and which aggregates information flow of an entity, evaluation of internal and environmental influencing factors, transformation of data into information, and evaluation of influence and consequences of financial information flow for general and specific environment. The model of entity's information disclosure is developed based on systematic approach to an entity and processual concept of management. The model is aimed to evaluate and manage public information flow of an entity. The model integrates 5 elements: 1) an entity; 2) the entity's financial information flow; 3) environment in which the entity operates; 4) factors that influence information disclosure; and 5) influen

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