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dc.contributor.advisorScott, Ayesha
dc.contributor.advisorGilbert, Aaron
dc.contributor.authorSong, Nianqi
dc.date.accessioned2021-05-18T23:22:24Z
dc.date.available2021-05-18T23:22:24Z
dc.date.copyright2021
dc.identifier.urihttp://hdl.handle.net/10292/14196
dc.description.abstractAustralian superannuation funds are required to produce annual reports providing key information to investors as part of a regime of ongoing disclosure. Each year, the annual report provides context around the financial performance of the investment fund that year. Prior readability studies have found that for firms, unreadable annual reports are associated with poor performance. One explanation put forward is that of managerial obfuscation, where managers manipulate the annual report’s language in an attempt to hide poor performance. In this thesis, I examine the relationship between the readability of Australian superannuation fund annual reports and fund performance for a sample period of 2005 to 2018. Results indicate that the superannuation fund annual report is not associated with fund performance, contrary to firm annual report studies. When paired with the extant literature on other forms of superannuation fund disclosure, it seems there is no evidence of managerial obfuscation in the Australian superannuation market. However, fund characteristics such as small size and large net fund flows are associated with more readable annual reports. Additionally, I find retail superannuation fund annual reports are, on average, harder to read than industry superannuation fund annual reports.en_NZ
dc.language.isoenen_NZ
dc.publisherAuckland University of Technology
dc.subjectAustralian Superannuationen_NZ
dc.subjectReadabilityen_NZ
dc.subjectSuperannuation Disclosuresen_NZ
dc.subjectSuperannuation annual reporten_NZ
dc.titleThe Readability of Australian Superannuation Disclosuresen_NZ
dc.typeThesisen_NZ
thesis.degree.grantorAuckland University of Technology
thesis.degree.levelMasters Theses
thesis.degree.nameMaster of Businessen_NZ
dc.rights.accessrightsOpenAccess
dc.date.updated2021-05-18T11:20:35Z


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