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The extent of financial disclosure and its determinants in an emerging capital market: the case of Egypt

Author

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  • Omaima A.G. Hassan
  • Gianluigi Giorgioni
  • Peter Romilly

Abstract

This paper uses panel data analysis to investigate the extent and determinants of disclosure levels of non-financial companies quoted on the Egyptian Stock Exchange. It distinguishes between private sector companies and public business sector companies in terms of company characteristics and disclosure practice. Results show gradual increases in disclosure levels, with a high compliance for mandatory disclosure, although the voluntary disclosure level was rather limited. Public business sector companies appear generally to disclose less information than private sector companies. Furthermore, more profitable companies disclose more information than less profitable ones. Results for firm size, gearing and stock activity are mixed.

Suggested Citation

  • Omaima A.G. Hassan & Gianluigi Giorgioni & Peter Romilly, 2006. "The extent of financial disclosure and its determinants in an emerging capital market: the case of Egypt," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 3(1), pages 41-67.
  • Handle: RePEc:ids:ijaape:v:3:y:2006:i:1:p:41-67
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    Citations

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    Cited by:

    1. Hichem Khlif & Mohsen Souissi, 2010. "The determinants of corporate disclosure: a meta-analysis," International Journal of Accounting and Information Management, Emerald Group Publishing, vol. 18(3), pages 198-219, September.
    2. repec:eee:accfor:v:38:y:2014:i:1:p:1-17 is not listed on IDEAS
    3. Hassan, Omaima A.G. & Romilly, Peter & Giorgioni, Gianluigi & Power, David, 2009. "The value relevance of disclosure: Evidence from the emerging capital market of Egypt," The International Journal of Accounting, Elsevier, vol. 44(1), pages 79-102, March.
    4. Doaa Aly & Jon Simon & Khaled Hussainey, 2010. "Determinants of corporate internet reporting: evidence from Egypt," Managerial Auditing Journal, Emerald Group Publishing, vol. 25(2), pages 182-202, January.
    5. Omaima Hassan & David M. Power, 2009. "The usefulness of accounting information; evidence from the Egyptian market," Qualitative Research in Financial Markets, Emerald Group Publishing, vol. 1(3), pages 125-141, October.
    6. Ayman Haddad & Wasim AlShattarat & Naser AbuGhazaleh & Haitham Nobanee, 2015. "The impact of ownership structure and family board domination on voluntary disclosure for Jordanian listed companies," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 5(2), pages 203-234, December.

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