Impact of market and organizational determinants on voluntary disclosure in Egyptian companies

Abstract

Purpose -The purpose of this paper is to investigate the impact of market and organizational determinants on the voluntary disclosure level of Egyptian companies. Design/methodology/approach -Uses a disclosure index of voluntary disclosure that is based upon the following information categories: strategic information; financial information; non-financial information; and future prospect information to rate the level of disclosure. Multivariate analysis, voluntary disclosure determinants: earnings quality; ownership structure; competition intensity; information asymmetry, and possible relationships with disclosure level provide the basis for discussion. Findings -It is found that the level of voluntary disclosure in the emerging market of Egypt ranges from low to moderate level. There is no significant relationship between a company's voluntary disclosure level and earnings quality and competition intensity, while this relationship is significant for information asymmetry and ownership structure.Research limitations/implications -The results are constrained by the proxies that represent non-financial factors of the market. Originality/value -This paper extends prior studies on voluntary disclosure in Egypt by looking at a comprehensive set of market and organizational factors that might affect the disclosure level, based on a structured disclosure index of strategic, financial and non-financial, and future prospect information. The findings would help boards of directors to explain the adoption of certain disclosure strategies, and understand the corporate disclosure behavior.

Corporate Governance and Voluntary Disclosure of Interim Financial Reporting in Jordan

“…However, Naser et al (2002) and Eng and Mak (2003) discovered no significant linkage between the two variables, in their studies. Meanwhile, block holder ownership appears to have negative relationship with voluntary disclosure in the studies by Marston and Polei (2004), Ismail and El-Shaib (2012), Adelopo (2011) and Samaha et al, (2012).…”

The Extent and Determinants of Voluntary Disclosures in Annual Reports: Evidence from Banking and Finance Companies in Sri Lanka

“…Voluntary disclosure index is developed, based on the indexes adopted and developed by Bhasin et.al. 2012;Ismail and El-Shaib 2012;Al-Shammari 2013;Haji and Ghazail 2013;Ho andTaylor 2013 andCharumathi andRamesh 2015. Therefore the items are added based on those studies to provide empirical support of the index and each element is checked to eliminate the mandatory disclosures from the index. By considering all items are equally important this study used unweighted approach to score the items in disclosure index 1989;Hossain et.al., 1994;Wallace et al, 1994;Naser et.al.…”

Studi Empiris Terkait Dengan Pengungkapan Sukarela, Kualitas Audit Dan Asimetri Informasi Terhadap Stock Return Pada Perusahaan Manufaktur Yang Terdaftar Pada Bursa Efek Indonesia

“…Pengukuran pengungkapan yang digunakan pada penelitian ini berdasarkan pengungkapan sukarela, mencakup unsur strategic information, key nonfinancial information, financial information dan projected information. Terdapat 49 items pengungkapan yang perlu dilakukan pengecekan pada setiap laporan tahunan perusahaan yang diamati (Ismail and El-Shaib, 2012). Pendekatan check list pengungkapan seperti ini telah dilakukan juga pada penelitian lain (Bruslerie andGabteni, 2010;Banghoj, 2008;Aljifri, 2008).…”