Online Financial Reporting Practices of Banking Industry in International Perspective

Abstract

Purpose: The study focuses to examine the online financial reporting practices in case of selected Indian, UK and US banks and also examined and analysed the various factors of financial reporting viz. the timeliness of reporting on internet of selected banks, the availability of XBRL filings/ reporting among sample banks, stakeholder s perception regarding online financial reporting and disclosure practices of selected countries. newline newlineMethodology: For the purpose of this study five banks have been selected from each country (India, UK and US) and the selection criteria of these banks on the basis of Net worth as on 1st April 2009 exceeding worth Rupees 1000 Crores and on the basis of Market Capitalization as on 1st April 2009 exceeding worth Rupees 1500 Crores. The duration of this study a period of five financial years starts from 2009-2010 to 2013-2014 have been taken in to consideration and for the data analysis various statistical tools like Percentage, Kruskal Wallis Test, Factor Analysis and Panel Data of Least Square have been used. newline newlineFindings: After examined the various factors of online financial reporting it was found that all selected banks are comply with the legal requirements of timeliness of reporting, the analyses result were found to be significant in case of AGE, NP, SP and ROE tested through Fixed Effect and Random Effect Method and not significant in case of size and to test the Random Effect Model is an appropriate Model. newlineResearch Implications: The internet reporting practices are at developing stage so there is need for research in this field with regard to the reporting, extended of disclosures, authenticity of information disclosed, timely disclosed of information accounts issue, acceptability of disclosed information by regulators and auditors and security issues related to information disclosed. newline newline