A study on the effects of accounting disclosures on firm performance of publicly listed companies in the Philippine Stock Exchange under the food, beverage & tobacco subsector from 2010-2014

Date of Publication


Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Accountancy


Ramon V. Del Rosario College of Business



Thesis Adviser

Joy S. Rabo

Defense Panel Chair

Cynthia P. Cudia

Defense Panel Member

Joy Lynn R. Legaspi
Reymond Patrick Monfero
Arnel Onesimo O. Uy


In this study, the researchers aim to determine if the most useful accounting disclosures for company forecasts as identified by Steele and Trombley(2012) and Titman et al., (2011) have a significant effect on firm performance based on the measurement model formulated by Santos and Brito (2012) on the publicly listed food, beverage and tobacco companies in the Philippines.

Twenty-one (21) companies in the Philippine Stock Exchange under the food, beverage and tobacco subsector, which are assumed to be the representative of the whole population, were used in this study. Data analysis included the use of multiple regression analysis, normality testing, heteroscedasticity, and autocorrelation in determining whether a significant relationship between variables in consideration of the five-year period.

The researchers were able to determine that accounting disclosures, specifically, prior firm sales growth, day sales outstanding, capital expenditures, change in margin, current ratio, acid test ratio, accounts receivable turnover ratio, inventory turnover ratio, debt ratio, times interest earned, fixed asset turnover, age and size will significantly affect the financial and strategic performance of the company. However, results showed that disparate accounting disclosures significantly affected the firm performance for each dependent variable.

With that, the researchers recommend that future researchers may opt to consider a longer time period of study, preferably 10 years or more, so that prior financial trends could provide more accurate forecasts for the companies. Moreover, a similar study may be conducted for other sectors or subsectors of publicly listed companies in order to determine if the study would also provide a fairly accurate data.

Abstract Format






Accession Number


Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

x, 286 leaves : illustrations (some color) ; 28 cm. + 1 computer disc ; 4 3/4 in.


Disclosure in accounting--Philippines

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