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Investigating transparency and disclosure determinants at firm-level in MENA emerging markets


  • Hakim Ben Othman
  • Daniel Zeghal


The objective of this study is to examine transparency and disclosure (henceforth T&D) determinants for Middle Eastern and North African (MENA) companies. Using a sample of 216 annual reports for companies followed by S&P/IFC and pertaining to 13 MENA emerging markets, we expect that the business milieu mostly inherited from the former British/French colonial era and shaped by privileged economic ties with the Anglo-American versus Continental European world has the potential to affect T&D. We investigate T&D determinants from a firm-level perspective. Our findings show that MENA companies from countries having historical links with Great Britain have substantially higher T&D scores than those from countries having historical links with France. Moreover, companies operating in the information technology sector exhibit higher levels of T&D. Multivariate analysis outlines that the nature of business culture, company size and the importance of intangibles affect positively the level of T&D in the MENA region.

Suggested Citation

  • Hakim Ben Othman & Daniel Zeghal, 2010. "Investigating transparency and disclosure determinants at firm-level in MENA emerging markets," International Journal of Accounting, Auditing and Performance Evaluation, Inderscience Enterprises Ltd, vol. 6(4), pages 368-396.
  • Handle: RePEc:ids:ijaape:v:6:y:2010:i:4:p:368-396

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    1. repec:eee:accfor:v:38:y:2014:i:1:p:1-17 is not listed on IDEAS
    2. repec:eee:advacc:v:35:y:2016:i:c:p:82-97 is not listed on IDEAS
    3. Maha Khalifa & Hakim Ben Othman, 2015. "The effect of conservatism on cost of capital: MENA evidence," Applied Economics, Taylor & Francis Journals, vol. 47(1), pages 71-87, January.
    4. repec:eee:riibaf:v:44:y:2018:i:c:p:239-255 is not listed on IDEAS


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