Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments December 17, 2012 erstellt
Description:
Disclosure of human resources-related expenditure that contributes to a firm's value-creation, would expect to have value relevance in equity markets. This study uses data from listed companies in Australia over 8 years, covering accounting regime change and share-market upheaval, to trace the value relevance of disclosure of human capital expenditure (HCE). In doing so, it extends the basic value relevance model to provide findings not only on total and disaggregated HCE disclosures but other factors affecting the market's evaluation of HCE's value-creation process, namely, diminishing marginal return from labour and the reliability of using industry-based HCE information