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This study aims to provide evidence of how budget officers use non-financial and accrual-based cost information in the budgeting process and how the usage of this information is influenced by financial constraints.

A randomized survey-based field experiment investigating budget officers in 546 Japanese local governments (LGs) was conducted. This allowed us to identify the budget officers' decision-making in the public sector budgeting process by creating and analyzing primary data with regression models.

We found that budget officers suppress budget amounts based on non-financial information of good performances. Under fiscal constraints, officers further reduce budget amounts using information on high accrual-based costs and poor non-financial performance.

Our survey-based field experiment allowed us to obtain primary data from officers making budget decisions. To the best of our knowledge, this study provides the first evidence that non-financial good and poor performance information and accrual-based cost information affect budget officers' decision-making under financial constrain.

This paper aims to show the associations between the amount of voluntary human capital (HC) disclosures and company profiles, including required HC and accounting information to verify a disclosure theory that consolidates four traditional theories. It also verifies the previously found association between voluntary HC information and share price.

This research uses regression analysis and graphical modelling of a stratified random sample from the Tokyo Stock Exchange. Text mining software is used for content analysis of annual reports to quantify the amount of qualitative HC information.

This study finds associations between the amount of voluntary HC information and the number of employees and the average salary. In particular, information about competence/qualification and personnel are related.

The results provide some support for the consolidated theory and are presumably consistent with the signalling theory and stakeholder theory in terms of the labour market rather than the financial market.

By using both regression analysis and, graphical modelling this study shows the difference between the outputs of Germany and Japan and how HC characteristics of a firm relate to its disclosure behaviour, revealing hidden aspects that traditional prior studies have ignored.