An Examination of the Impact of Firm Size and Age on Managerial Disclosure of Intellectual Capital by High-Tech Companies

A sample of 143 high-technology firms was examined to determine if there were inverse relationships between the size and age of companies and their level of intellectual capital disclosure. Weak inverse relationships were found between number of employees and level of disclosure and between total assets and level of disclosure. There was, however, a significant inverse relationship between firm age and level of disclosure. Multivariate regression provided support that firm age was a significant predictor of level of intellectual capital disclosure. It appears that young companies use increased disclosure to signal to the market their real value and prospects. [PUBLICATION ABSTRACT]