Issues concerning corporate disclosure through web: an analysis of the views of retail investors

Due to continuous developments in information and communication technology, organizations in different countries are considering the Impact of web on the dissemination of corporate information. A part from the distinctive and attractive features, to date, there are many unresolved issues that put limit on the dissemination of corporate information on the web. In this context, the objective of this study is to elicit the views of retail investors regarding: (1) reasons for not adopting web medium for disclosure, (2) usefulness of navigation and search aids, (3) usefulness of different file formats, and (4) impact of corporate web disclosure on regulation and standard setting. Taken as a whole, the findings of the study suggest that no legal requirement, availability of alternative forms for users to obtain information, concern over security of information, lack of trust, potential legal liability and expertise have been found to be the main reasons for not adopting web medium for disclosure A range of navigation aids, search aids and file formats are found by the retail investors to be at least some what useful. On regulatory aspects, respondents perceived some form of global regulation to ensure creditability of financial information disclosed on corporate website but they also agreed on the issue of difficulties in the enforcement of these regulations.