Which of the following characteristics of a country most likely affects the extent of companies' financial disclosure practices?

Question

Quizplus · Accepted Answer

Culture plays a significant role in determining the level of financial disclosure practices in a country. In countries where there is a culture of transparency and accountability, companies are more likely to disclose their financial information. On the other hand, in countries where there is a culture of secrecy and privacy, companies may be less willing to disclose their financial information. Therefore, culture is the most likely characteristic that affects the extent of companies' financial disclosure practices.

Which of the Following Characteristics of a Country Most Likely