What information stakeholders of companies in developing countries want? Sri Lankan evidence

The major objective of this study is to examine the level of importance various stakeholders of

companies in developing countries place on information items disclosed in company annual

reports. Using data gathered from a questionnaire survey covering seven stakeholder groups in

Sri Lanka, a developing country in South East Asia, this study assesses relative importance of 86

information items disclosed company annul reports. The results of the study reveals that, in

general, users have placed high importance on the items relating to financial status, including

cash position; present and future earnings, including cash generation; and comparative status of

the company. This study contributes to the limited literature on corporate disclosure practices in

developing countries by providing evidence on user perspectives in relations to level of

disclosures in company annual reports.