scholarly journals The impact of structure-related variables on forward-looking disclosure in the annual reports of non-financial Egyptian companies

2013 ◽  
Vol 11 (1) ◽  
pp. 111-125
Author(s):  
Bassam Baroma
Keyword(s):  
Voluntary Disclosure ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Annual Reports ◽  
Listed Firms ◽  
The Impact ◽  
Egyptian Stock Exchange ◽  
Forward Looking

The main objective of this study is to test the relationship between numbers of variables representing firm characteristics (structure-related variables) and the extent of voluntary disclosure levels (forward-looking disclosure) in the annual reports of Egyptian firms listed on the Egyptian Stock Exchange. This study uses empirically investigate hypothesized impacts of structure-related variables on the extent of forward-looking disclosure. This study uses a list of forward-looking keywords to determine the differences in the level of forward looking disclosure between firms in different sectors. The sample includes 49 non-financial firms listed on the Egyptian Stock Exchange for the years 2008, 2009 and 2010. Statistical analysis is implemented using a multiple linear regression analysis. The results show that firm size is significantly positive (in all the three years) with the level of forward-looking disclosure. Firm age also is, only for the year 2008, and with insignificant association with the level of forward-looking disclosure in years 2009 and 2010. On the other hand, leverage and ownership dispersion variables are found being insignificantly associated with the level of forward-looking information disclosed in the annual reports for all the three years. There are some limitations in this study. First, the study uses the same list of forward-looking items as applied in previous studies. Second, the selected items do not show observed importance levels by financial information users. Third, the study applies an “unweights” approach to measure the level of forward-looking disclosure. Finally, the study concentrates on non-financial listed firms on the Egyptian Stock Exchange and excluded financial and insurance firms. Few studies have examined the forward-looking information disclosure in developing countries, particularly in the Middle East; no study has yet tested disclosure of forward-looking information in the annual reports for Egyptian firms. Furthermore, all previous studies examined the forward-looking disclosure in the annual reports for a sole year: this study examines it for a somewhat longer period (three years).

scholarly journals What determines forward-looking information disclosure in Bangladesh?

2020 ◽  
Vol 5 (2) ◽  
pp. 225-239
Author(s):  
Pappu Kumar Dey ◽  
Manas Roy ◽  
Mohsina Akter
Keyword(s):  
Information Disclosure ◽  
Positive Impact ◽  
Small Sample Size ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Small Sample ◽  
Annual Reports ◽  
Female Representation ◽  
Content Type ◽  
Forward Looking

PurposeThe study aims to examine the level and extent of forward-looking information (FLI) disclosure and identify the determinants driving the FLI disclosure (FLID) in the context of an emerging and developing economy.Design/methodology/approachThe sample includes annual reports of the top 30 listed companies in Bangladesh for the years 2013–2017. The content analysis approach is used to examine the practice of FLID and to determine the extent of FLID based on the index. Multiple linear regression analysis is performed to identify the determinants of FLID.FindingsThis research finds that board size, auditor's global affiliation, leverage and profitability have a substantial positive impact on FLID. By contrast, firm size and listing age have a significant negative association with FLID. Moreover, contrary to our expectation, female representation in the boardroom has an inverse effect on FLID. This study, however, does not suggest any significant impact of board independence.Research limitations/implicationsSmall sample size may limit the generalizability of the findings. Besides, the FLID index score may be affected by the subjective judgment while analyzing the content of the annual report.Practical implicationsThe findings of this paper may assist the regulators and policymakers in incorporating this new reporting paradigm in regulations. Alternatively, the current research can serve as a basis to further understand the importance of FLID for the stakeholders.Originality/valueThis empirical study contributes to the current FLI literature in Bangladesh. A handful of studies have been done to examine the nature and level of FLID and find out the determinants of FLID in the developing countries. To the best of the authors' knowledge, no study yet has been explored on FLID and its determinants by classifying them as qualitative and quantitative in Bangladesh.

scholarly journals Investigasi Pengaruh Luasnya Pengungkapan Sukarela atas Keberadaan Komite Pengawas Manajemen Pada Perusahaan Manufaktur Di Indonesia

2020 ◽  
Vol 9 (1) ◽  
pp. 23-30
Author(s):  
Dinalestari Purbawati ◽  
Agung Budiatmo
Keyword(s):  
Risk Management ◽  
Voluntary Disclosure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Annual Reports ◽  
Manufacturing Companies ◽  
Management Committee ◽  
Oversight Committee ◽  
The Impact ◽  
Risk Management Committee

This study investigated the impact the existence from the oversight committee on the extent from voluntary disclosure of manufacturing company in Indonesia. The oversight committee consist of risk management committee and nomination and remuneration committe. The existence from the oversight committee of manufacturing companies who have never been broad mandatory will have an influence on the differences in the voluntary disclosure between the company which one with a company that other. Data was collected used a documentation technique from the annual reports manufacturing companies listed on the Indonesian Stock Exchange period 2015 until 2017. Sampling method used purposive sampling. The number of samples were 81 companies each year. Multiple linear regression analysis is tools used in this model. The final results showed that in parsial the existence from the risk management committee (RMC) had a positive significant effect of the extent from voluntary disclosure. In simultan test showed that oversight committee had a positive significant effect on the extent of voluntary disclosure. Suggestions for further research is to be able to add the use of data collection method as questionnaires and interviews in knowing more information about the existence of an oversight committee.

Forward-Looking Information Disclosure and Corporate Governance: Empirical Evidence from Year 2013 Listed Firms in Ghana

2018 ◽  
Vol 17 (4) ◽  
pp. 311-339 ◽  
Author(s):  
Ben K. Agyei-Mensah
Keyword(s):  
Corporate Governance ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Annual Reports ◽  
Significant Variable ◽  
Financial Reports ◽  
Listed Firms ◽  
Future Performance ◽  
Ghana Stock Exchange ◽  
Forward Looking

Abstract This study investigated the influence of corporate governance on the disclosure of forward looking information by firms listed on the Ghana Stock Exchange. The forward-looking information used in this study were obtained from statements made for management in either the Managing Director or Board Chairman’s reports regarding future operating outcomes. The results of the extent of disclosure of forward looking information, mean of 35%, indicate that most of the firms listed on the Ghana Stock Exchange did not disclose sufficient forward looking information in their annual reports. The low level (35%) of forward looking information disclosure will also make it very difficult for the firms’ stakeholders to determine future performance of the company. In a country where corruption, even within the judiciary, is high one way of hiding corrupt practices is to hide information from the users of the financial reports. The results of the regression analysis indicate that board ownership concentration is the significant variable that explain the level of forward looking information disclosure.

The Impact of Financial Distress, Corporate Governance, and Auditor Switching on Audit Delay

2021 ◽  
Vol 6 (2) ◽  
pp. 108-117
Author(s):  
Sylvi Angelia ◽  
Rizal Mawardi
Keyword(s):  
Corporate Governance ◽  
Financial Services ◽  
Financial Distress ◽  
Audit Committee ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Auditor Switching ◽  
Analysis Technique ◽  
The Impact

Objective – The purpose of this study is to examine the effect between financial distress, corporate governance, auditor switching and audit delay. This research sample using data on a manufacturing company on the Indonesia Stock Exchange. Methodology – The analysis technique used is multiple linear regression analysis technique. Findings– The research finding show that financial distress and the size of the audit committee have a significant effect on audit delay, while the concentration of ownership, managerial ownership, change of directors, and auditor switching has no significant effect on audit delay. Second finding explain that consideration for companies listed on the Indonesia Stock Exchange to pay attention to the timeliness of submitting financial reports and independent auditor reports so as not to get sanctions from the Financial Services Authority. Novelty – Our novelty research using the relationship of Financial Distress, Corporate Governance and Auditor Switching on new research model to Audit Delay. Type of Paper: Empirical JEL Classification: M41, M42 Keywords: Financial Distress, Corporate Governance, Auditor Switching, Audit Delay

scholarly journals Ownership structure and voluntary disclosure in corporate annual reports of Malaysian listed firms

2011 ◽  
Vol 8 (2) ◽  
pp. 296-312 ◽  
Author(s):  
Poh-Ling Ho ◽  
Gregory Tower
Keyword(s):  
Ownership Structure ◽  
Voluntary Disclosure ◽  
Positive Association ◽  
Institutional Ownership ◽  
Ownership Concentration ◽  
Annual Reports ◽  
Policy Makers ◽  
Listed Firms ◽  
Ownership Structures ◽  
The Impact

This paper examines the impact of ownership structure on the voluntary disclosure in the annual reports of Malaysian listed firms. The result shows that there is an increase in the extent of voluntary disclosure in Malaysian listed firms over the eleven-year period from 1996 to 2006. Ownership concentration consistently shows positive association with voluntary disclosure. Firms with higher foreign and institutional ownership have a significantly positive association with voluntary disclosure levels while firms with family ownership exhibit lower voluntary disclosure. Consistent with agency theory, different ownership structures have varied monitoring effects on agency costs and clearly influence firm’s disclosure practices. The findings provide insights to policy makers and regulators in their desire to increase transparency and accountability amidst the continual enhancement of corporate governance. The findings provide evidence that optimized ownership structure in any jurisdiction should be considered in any regulatory process that seeks to improve transparency.

scholarly journals The impact of firms’ and CEOs’ social media usage on corporate performance

2021 ◽  
Vol 18 (4) ◽  
pp. 21-35
Author(s):  
Wafa Ghardallou
Keyword(s):  
Social Media ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Estimation Method ◽  
Annual Reports ◽  
Short Term ◽  
Listed Firms ◽  
Media Usage ◽  
Funding Program ◽  
The Impact

The impact of social media usage on corporate performance has not been examined in the Saudi context. This paper aims to investigate the influence of social media, namely companies’ and CEOs’ involvement in Twitter and LinkedIn, on the profitability of Saudi Arabia listed firms. A dynamic panel estimation method is used to empirically assess this relationship. The study employs 120 firms listed on the Saudi Stock Exchange Tadawul from 2014 to 2017. Data are obtained from the companies’ annual reports. Statements of financial status as well as income statements are used to collect data on the dependent variable and control variables. The results show that having a LinkedIn official account by both the CEO and the company does not improve the enterprise performance. In contrast, companies that are active on Twitter will contribute to an increase in their short-term performance. CEOs who engage in Twitter via a high number of followers help to boost the performance of their companies in the long and short term. Hence, this paper recommends that Saudi firms should be aware that their performance could be increased by monitoring their presence on social networks and by having a strong intention to use these tools. AcknowledgmentsThis study was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-track Research Funding Program.

scholarly journals The Impact of Dividend Policy on the Shareholders Value of Listed Firms in the Nigerian Petroleum Marketing Industry

2019 ◽  
Vol 8 (2S9) ◽  
pp. 902-905
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Market Price ◽  
Study Data ◽  
Annual Reports ◽  
Current Income ◽  
Listed Firms ◽  
Secondary Sources ◽  
Marketing Firms ◽  
The Impact

Dividend policy is directed towards establishing the proportion of current income that should be retained in the firm and the proportion that should be distributed among its shareholders. This study, therefore, assessed the impact of dividend policy on the value of listed firms in the Nigerian petroleum marketing industry. six firms, out of eight that are quoted on the Nigerian Stock Exchange (NSE) were selected as sample for the study. Data were collected from secondary sources. Annual reports and accounts of the selected firms, daily official lists and facts books of the NSE for the period of 2008-2017 form the source of the data. egression was used in analyzing the data. The findings revealed that payment of dividend by petroleum marketing firms in Nigeria positively influence the market price of their shares. Based on these findings, the study concluded that dividend policy of petroleum marketing firms in Nigeria affects the value of the firms. Based on this conclusion, the study recommends that management need to identify the shareholder’s interest in setting up a dividend policy that would balance their needs and retention for recapitalization to maximize value of the firms.

scholarly journals INTEGRATED REPORTING DISCLOSURE, BUSINESS COMPLEXITY AND FIRM VALUE

2020 ◽  
Vol 12 (1) ◽  
pp. 1-6
Author(s):  
Seful Komar ◽  
Nurmala Ahmar ◽  
Dwi Prastowo Darminto
Keyword(s):  
Firm Value ◽  
Information Disclosure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Analysis Tool ◽  
Manufacturing Companies ◽  
Integrated Reporting ◽  
Relationship Of ◽  
Business Complexity

This study empirically investigates the effect of disclosure elements of integrated reporting on firm value. Business complexity is used as a moderating variable in the effect of integrated reporting on firm value. A total of 189 samples of manufacturing companies registered on the Indonesia Stock Exchange in 2015-2017 met the criteria using the purposive sampling method. A multiple linear regression analysis using SEM-PLS program is employed as a data analysis tool. The results showed that integrated reporting has significant effect on firm value. Business complexity moderates the relationship of disclosure integrated reporting to firm value. The better quality of information disclosure from element of integrated reporting increases investor confidence thereby increasing firm value.

scholarly journals The Influence of Good Corporate Governance and Capital Structure on Firm Value: The Mediation Role of Financial Performance

2020 ◽  
Vol 35 (2) ◽  
pp. 230
Author(s):  
Ridwan Nurazi ◽  
Intan Zoraya ◽  
Akram Harmoni Wiardi
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Financial Performance ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Company Value ◽  
Good Corporate Governance ◽  
The Impact

<pre>The objective of this study is empirically identify the impacts of Good Corporate Governance and capital structure on firm value with financial performance as intervening variable. We operate quantitative approach within the scope of manufacturing company of metal, chemical, and plastic packaging sector which listed in Indonesia Stock Exchange during the 2017-2018 periods as the population. Samples are chosen by purposive sampling method inwhich the company must report the financial statement in a row, obtained 79 observations. The data analysis technique used is financial ratio analysis to determine the condition of the business financial ratios of the variables studied. Data were analyzed using multiple linear regression analysis. The result shows that corporate governance and capital structure influence the firm value, moreover the use of institutional ownership ratio and capital structure will increase the value of the firm. The result also shows that the impact of Corporate governance and capital structure on the company value are mediated by financial performance. It means that the value of the firm can increase if the company able became an effective monitoring tool.</pre>

scholarly journals DAMPAK KINERJA LINGKUNGAN, KEPEMILIKAN INSTITUSIONAL, KEPEMILIKAN PUBLIK, LEVERAGE, UKURAN PERUSAHAAN DAN PERTUMBUHAN PERUSAHAAN TERHADAP PENGUNGKAPAN TANGGUNGJAWAB SOSIAL

2018 ◽  
Vol 7 (1) ◽  
Author(s):  
Erva Wartina, Prima Apriweni
Keyword(s):  
Environmental Performance ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Institutional Ownership ◽  
Multiple Linear Regression Analysis ◽  
Annual Reports ◽  
Sufficient Evidence ◽  
Public Ownership ◽  
Operational Activities ◽  
Csr Disclosure

The company's obligation is not only to seek profit but also to do social responsibility (CSR). For companies that use natural resources in operational activities, it is appropriate to conduct CSR activities and disclose them in annual reports. This study aims to determine whether environmental performance, institutional and public share ownership, leverage, size and growth of the company affect the disclosure of CSR. Sample of the research is 25 agricultural and mining companies listed in Indonesia Stock Exchange (IDX) over a period of 4 years (2013-2016). While the analysis to be used are equality coefficient test, classical assumption test, multiple linear regression analysis, and statistic test.The results of this study concluded there is sufficient evidence on the variables of environmental performance and firm size affecting CSR disclosure, whereas in institutional ownership variables, public ownership, leverage, and corporate growth there is not enough evidence of these variables affecting CSR disclosure. Keyword: CSR Disclosure, Institutional Ownership, Public Ownership, Leverage, Size Firm

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