Voluntary Disclosure of Socio-Economic Issues by JSE Listed Companies: The HIV/AIDS Example

Thabang Mokoaleli-Mokoteli and Kalu Ojah

The African Finance Journal, 2010, vol. 12, issue 2, 1-26

Abstract: Possible economic consequences of HIV/AIDS include: increased risk of group life cover, retirement benefit and medical care costs; increased cost of labour due to high staff turnover, absenteeism and compassionate or sick leave; and cost of HIV/AIDS management programs. Given the exposure of most South African firms to these costs, this research examines the extent to which publicly listed firms voluntarily disclose information about HIV/AIDS. It equally ascertains factors that influence firms to voluntarily disclose such socially sensitive but economically consequential information. Results show that firm listing, firm size and belonging to the industrial sector are important in influencing firms to disclose information about HIV/AIDS. These results largely support the notion that firms with reputational capital are generally forthcoming with economically important information.

Keywords: voluntary disclosure; annual reports; HIV/AIDS; JSE; South Africa (search for similar items in EconPapers)
JEL-codes: D8 G1 G3 (search for similar items in EconPapers)
Date: 2010
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