Risk Disclosure Patterns among Jordanian Companies: An Exploratory Study during Covid-19 Pandemic

Al-Sawalqa, Fawzi Ata

doi:10.5430/afr.v9n3p69

Cited by 5 publications

(12 citation statements)

References 22 publications

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“…Evidence shows that much of the extant literature on corporate risk disclosure is limited to developed economies (Linsley & Shrives, 2006;Beretta & Bozzolan, 2004;Meijer, 2011;Oorschot, 2009;Lajili & Zéghal, 2005;Carnegie et al, 2021;Khaledi, 2014;Larcker et al, 2020;Al Sawalqa, 2020;Dey et al, 2018;Amran et al, 2009;Uba & Irina, 2021;Marzouk, 2016). This study will contribute to the extant body of research in four ways.…”

Section: Introductionmentioning

confidence: 87%

“…In March 2020, the South African government declared a national state of disaster in terms of the Disaster Management Act in response to the emergence of Covid-19 by Gazzette (2020) and subsequently implemented various stages of lockdown. The pandemic has considerably affected economies, resulting in users demanding more information in annual reports to aid their decision-making during uncertain, unprecedented times (Al Sawalqa, 2020;Larcker et al, 2020). The annual report informs shareholders and stakeholders about the company's performance and includes statutory and voluntary risk disclosures.…”

Section: Introductionmentioning

confidence: 99%

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Corporate Risk Disclosure Trends in South Africa During the Covid-19 Pandemic

OSMAN,

BALDVOO

2023

IJESSS

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The novel Covid-19 pandemic created uncertainty around the world. Users now require more information about risk exposure; this paper explored the risk disclosure pattern of South African listed companies during the Covid-19 pandemic. The phenomenon of corporate risk disclosure was explored through a multi-theoretical lens, including agency, legitimacy, and stakeholder theories, given the multi-faceted nature of risk reporting. A content analysis of the annual reports of a sample of non-financial companies listed on the Johannesburg Stock Exchange (JSE) was conducted before and during the Covid-19 pandemic from 2019 to 2021. 84 annual reports were analyzed to determine the extent of corporate risk disclosure, both voluntary and mandatory. A self-developed disclosure index of 25 risk items distributed over three risk categories was used to establish the quantity of corporate risk disclosure. A clear upward trend in the extent of corporate risk disclosure was noted during the Covid-19 pandemic. Given the importance of risk information for decision-making in uncertain times, this study sought to provide an understanding of risk disclosure behavior in South Africa during the initial stage of the pandemic, for which there is limited extant literature. Where extant corporate risk disclosure studies have been conducted in the context of developing economies, this study's findings can be extended to other emerging countries. This study provides the first analysis of the extent of corporate risk disclosure in South Africa during the pandemic. The study's findings are relevant to information users, companies, government, regulatory bodies, and academics.

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Section: Introductionmentioning

confidence: 87%

Section: Introductionmentioning

confidence: 99%

Corporate Risk Disclosure Trends in South Africa During the Covid-19 Pandemic

OSMAN,

BALDVOO

2023

IJESSS

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“…Some studies investigated the level of and types of COVID-19 disclosure in various reporting mediums. For instance, Al Sawalqa (2020) analysed the COVID-19 disclosures made in separate disclosure reports sent to the Jordan Securities Commission by Jordanian companies, and indicates that the average disclosure score is 65.6%. Based on the distribution of 20 risk factors across five categories, "the operational category" ranked first, followed by "the investor relations", "the financial", "the strategic", and "the market" category.…”

Section: Covid-19 Disclosure Practicesmentioning

confidence: 99%

Preliminary Study of Covid-19 Disclosure in Annual Reports of Malaysian Energy Firms

Rahman,

Mohamad

2023

European Proceedings of Finance and Economics

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The COVID-19 pandemic is an unprecedented event that creates tremendous uncertainty and generates a huge demand for information from investors. This paper aims at investigating the Coronavirus 2019 (COVID-19) disclosure practices of Malaysian public listed companies operating in the energy industry.The content analysis of annual reports is used to examine the COVID-19 disclosure practices of 28 energy companies for the year 2021. On average, these companies reported 57.39 sentences of information related to COVID-19, with a minimum and maximum score of 7 and 159 sentences, respectively. Most of the information is found in the Sustainability Statement and Management Discussion and Analysis (MD&A) sections. From the findings, there is a large variance in the information reported and companies tend to disclose qualitative information with a minimal level of quantitative information. To our best knowledge, this is one of the first kinds of studies undertaken to examine COVID-19 disclosure in the context of Malaysia.

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“…Certainly, one of the crucial economic natures of numerous services is their enabling function, the advantages of an effective services sector go beyond the service sector itself, and are experienced via their effects on other economic events. Al Sawalqa (2020) indicated that the economic recovery in Jordan through the coming quarters may be very low or negative as external demand remains very fragile, and downside risk remains and originating from the COVID-19 with a possible negative effect. Based on this Business and Economic Research ISSN 2162-4860 2021 available information, the following hypothesis can be proposed: H1: COVID-19 pandemic has a negative effect on the development of the service sector in Jordan.…”

Section: Effect Of Covid-19 On Jordanian Service Sectormentioning

confidence: 99%

“…Although Jordan has experienced a relative degree of success in controlling the spread of the COVID-19 infection, this has come at a severe economic cost. The country is predicted to experience a severe recession in 2020 that will increase unemployment rates and put a significant burden on domestic income and spending (Acs & Karpman, 2020;Al Sawalqa, 2020;Oxford Analytica, 2020). Consequently, a lower demand across the life and non-life insurance sector is expected.…”

Section: Effect Of Covid-19 On Jordanian Insurance Sectormentioning

confidence: 99%

Effect of Covid-19 in Jordan: Conceptual Analysis of Different Economic Sectors

Shatnawi

Sakarneh

2021

BER

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Jordan, similar to other nations around the globe, has been severely affected by the COVID-19 pandemic cut across Jordanian service, banking, insurance, and industrial sectors. The spread of the virus and attempts to control it have generated both social and economic turbulence, turmoil, disorder, uncertainty, and uneasiness in the country. The government of Jordan acted promptly in March 2020 by ordering a national lockdown to mitigate the impact of COVID-19 on these economic sectors. The COVID-19 has had both direct and indirect negative effects on these sectors, which are projected to vary from the short to the long term. It is possible to measure the short-term effects as seen in this conceptual work. Some of the short-term effects anticipated include economic recession, high unemployment rate, high inflation, etc. In conclusion, these sectors will continue to encounter challenges because of the ongoing economic slowdown in Jordan due to lockdown and other social measures put in place by the government. Currently, there is yet to be a tentative and complete statistical prediction of the negative economic effects and cost of COVID-19 in Jordan, particularly on its sectors of the economy.

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Risk Disclosure Patterns among Jordanian Companies: An Exploratory Study during Covid-19 Pandemic

Cited by 5 publications

References 22 publications

Corporate Risk Disclosure Trends in South Africa During the Covid-19 Pandemic

Corporate Risk Disclosure Trends in South Africa During the Covid-19 Pandemic

Preliminary Study of Covid-19 Disclosure in Annual Reports of Malaysian Energy Firms

Effect of Covid-19 in Jordan: Conceptual Analysis of Different Economic Sectors

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