International Finance and Accounting Handbook

The evidence in the periodic report exhibits suggests that there is a strong associ-
ation between U.S. SEC registration status and the amount of information published.
This difference reflects the highly detailed U.S. disclosure requirements.

13.6 CASH FLOW STATEMENTS AND SEGMENT DISCLOSURES. Cash flow state-
ments and industry and geographic segment disclosures are two types of financial
statement disclosure where practices have changed dramatically in recent years in re-
sponse to strong demand by capital market participants and changes in accounting
regulation. Minimum required disclosures in these areas have increased, and many
companies disclose information beyond the required minimums.
To illustrate the dramatic changes that have occurred in cash flow and segment dis-
closures, consider international practices from less than 10 years ago. Exhibits 13.8
and 13.9 present results from an analysis of the 1993/94 annual reports of 200 of the
largest companies in France, Germany, Japan, the United Kingdom, and the United
States (40 companies from each country).^28 Exhibit 13.8 shows that the majority of
U.K. and U.S. companies disclosed segment revenues, assets and profits, consistent

13.6 CASH FLOW STATEMENTS AND SEGMENT DISCLOSURES 13 • 15

Exhibit 13.5. Announcement of Forthcoming Annual General Meeting Hyundai Motor
Company.

Title Resolution of the Board of Directors on Count 1429 Date 02-21-2002
Convocation of General Meeting of
Shareholders

1. Date of Board Resolution: February 21, 2002
   (four out of four outside directors were present)


2. Reason for Convocation of BOD Meeting: To discuss the date of convocation of general
   meeting of shareholders and the agenda.


3. Expected Date of General Meeting of Shareholders: March 15, 2002 10:00 a.m.


4. Expected Place of General Meeting of Shareholders:
   Grand conference room of the 2nd floor of Hyundai Motor Company, 231 Yangjae-
   dong, Seochoku, Seoul, Korea


5. Agenda:
   
   
   1. Approval of the financial statements of the 34th business year (1/1/2001~12/31/2001)
   
   
   2. Amendment of the Articles of Incorporation of the Company
   
   
   3. Appointment of director(s)
      Nominees Name Position
      Outside Director Kwang-Nyun Kim Outside Director of HMC
      Inside Director Mong-Koo Chung Representative Director of HMC
      Jung-In Park Representative Director of Hyundai MOBIS
      Rudiger Grube Deputy Member of the Board of
      Management of DaimlerChrysler AG
   
   
   4. Appointment of member(s) of Audit Committee
   
   
   5. Approval of the limit of directors’ remuneration
   
   
   
   


6. Result: Agenda approved as proposed

Attachment There is no record.

(^28) Refer to Frost and Ramin (1997) for sample selection details and empirical results. The mean mar-
ket capitalization for each country subsample of 40 companies ranged from US$2.48 billion (Japan) to
US$2.76 billion (France).