Financial statement filing lags: an empirical analysis among small firms
Luypaert, Mathieu Van Caneghem, Tom Van Uytbergen, Steve
Luypaert, Mathieu
Van Caneghem, Tom
Van Uytbergen, Steve
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2016
Journal
International Small Business Journal
Book
Publication Volume
34
Publication Issue
4
Publication Begin page
506
Publication End page
531
Publication Number of pages
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Abstract
This article examines financial statement filing lags among a sample of Belgian small firms. Our results indicate that around one-third of small firm financial statements are filed late (after the legal deadline), but that monetary sanctions could be an effective tool to encourage compliance with legal deadlines. Whereas the deadline and late filing sanctions are filing incentives, various factors, such as firm size and presence of an external financial statement audit, also affect financial statement filing lags. Evidence indicated that extremely late filings were associated with lower financial statement quality.
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Keywords
Filing Requirements, Financial Reporting, Reporting Lag, Small Firms