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

Hassan, Omaima A.G.; Giorgioni, Gianluigi; Romilly, Peter

doi:10.1504/ijaape.2006.010102

Cited by 85 publications

(101 citation statements)

References 8 publications

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“…No significant correlation is observed between either credit risk, interest rate risk or/and their total with total assets and market capitalization for either years (2005 and 2008). This result goes against earlier studies (for example, Botossan, 1997;Ahmed and Courtis, 1999;Street and Bryant, 2000;Camfferman and Cook, 2002;Ali, Ahmed, & Henry, 2004;Al Saeed, 2006;Hassan, et al 2006;and Mangena et al 2007) which support that a size-disclosure relationship does exist. Furthermore, Woods et al (2009) also discovered in their research that there is no association among the bank size and the quantity of disclosures.…”

Section: Hypotheses Testingcontrasting

confidence: 77%

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Anagnostopoulos¹,

Skordoulis²

2011

1st Annual International Conference on Accounting and Finance (AF 2011)

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In this paper, we examine the under-researched Greek banking market; inadequate transparency and disclosure about exposures has led to counterparty concerns and renewed strains in bank funding markets. Greek banks, now struggling with the need to increase provisions against bad debts, asset write-offs and with problems of liquidity as a result of being frozen out of the interbank lending market are completely reliant on the European Central Bank. The study examines the impact that Basel II had on the risk disclosure practices in the Greek banking sector. The disclosure practices and their potential relationship with size, risk profile and profitability of the most actively traded Greek banks are examined. In 2010, the latest wave of outcry from investors surfaced, demanding the disclosure of information showing how Greece and Greek banks used derivatives to hide their deficits when Greek banks entered into a large number of private, off-market swaps from 2001 through 2007. There is a compelling public interest in relevant information being disclosed.The results show that inadequacies still exist despite the fact that Basel II managed to raise the risk disclosing amounts in the annual reports of the Greek banks. The informational content of the disclosures is suspect, due to that little quantitative information is disclosed; favouritism towards qualitative and past related disclosures is revealed.Furthermore, no quasi-norms between the size, profitability or risk profile of the institutions and their risk disclosing quantities is revealed.Dr. Rosemary Skordoulis Principal London School of Business Management London, WC1E 7JN UK Disclosing policies and the quantity of disclosures have evolved, throughout the examined period in the Greek banking industry; yet, transparency issues and quality problems are still present owing to the high degree of secrecy of the internal Greek market.

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Section: Hypotheses Testingcontrasting

confidence: 77%

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Anagnostopoulos¹,

Skordoulis²

2011

1st Annual International Conference on Accounting and Finance (AF 2011)

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“…Additionally, the present study addresses the call for further research in the field of mandatory disclosures (Leuz & Wysocki, 2008;Schipper, 2007 Hassan et al (2006) argue that one of the reasons that little attention has been given to mandatory disclosures is that most studies are conducted in developed markets with strong enforcement mechanisms, which ensure a high level of compliance with mandatory disclosures by almost all companies. Nevertheless, there is evidence that the excessive disclosure requirements mandated by IFRS are not fully followed in even some of the most developed markets.…”

Section: H1: Purchased Goodwill Under Ifrs Is Value Relevantmentioning

confidence: 97%

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

Baboukardos

Rimmel

2014

Accounting Forum

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The accounting treatment of purchased goodwill under IFRS has been severely criticized due to the extensive use of fair value accounting. The purpose of this study is to enrich the ongoing debate upon this issue by drawing attention to the market valuation implications of goodwill in a country outside the Anglo-Saxon accounting paradigm, where the application of fair value accounting has been seen as more problematic. The results indicate that, in the case of purchased goodwill, fair value accounting generates relevant accounting numbers but only in companies that comply highly with IFRS disclosure requirements.

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“…Notably, a stream of empirical research has found that larger companies are more inclined to disclose greater amount of disclosure (Wallace et al, 1994;Beattie et al, 2004;Hassan et al, 2006;Alsaeed, 2006) and to follow better disclosure practices (Ahmed & Courtis, 1999). In particular, empirical findings from previous studies demonstrated that total level of forward-looking information is positively related with company size (Walker & Tsalta, 2001;Kent & Ung, 2003;Vanstraelen et al, 2003;Leventis & Weetman, 2004;Gao et al, 2005;Hossain et al, 2005;Celik et al, 2006;Celik et al, 2006;Lim et al, 2007;Hossain & Hammami, 2009;Abed et al, 2011).…”

Section: Firm Sizementioning

confidence: 99%

“…There are several reasons for such a positive relationship. For instance Hassan et al (2006) argued that large companies might have a lot of resources to sustain additional information costs if they provide more relevant disclosure to different users.…”

Section: Firm Sizementioning

confidence: 99%

The Determinants of Forward-Looking Information in Management Commentary: Evidence from Italian Listed Companies

Menicucci¹

2013

IBR

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The aim of this paper is to assess the level of forward-looking information in Management Commentaries of Italian listed companies and to empirically explore the firm characteristics that may affect the extent of forward-looking information disclosed. A disclosure index composition consisting of 15 forward-looking information items is developed to investigate the level of forward-looking information in Management Commentaries of a sample of companies listed on Italian Stock Exchange for the year 2010. Using content analysis the study confirms that these companies are reluctant to provide forward-looking information in Management Commentaries. Three hypotheses are proposed and six models are tested within a regression analysis in order to explore the effect of three main variables (firm size, profitability and leverage) on forward-looking information. The results show that profitability has significant association with the level of specific types of forward-looking information. Conversely, firm size and leverage are found to be insignificant in explaining the level of forward-looking information.

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

Cited by 85 publications

References 8 publications

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Risk Disclosure Policies: A cross-sectional analysis of the Greek Banking Industry

Goodwill under IFRS: Relevance and disclosures in an unfavorable environment

The Determinants of Forward-Looking Information in Management Commentary: Evidence from Italian Listed Companies

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