The relationship between forward-looking disclosure and market-related variables in the annual reports of Egyptian firms listed | ||
| التجارة والتمويل | ||
| Article 14, Volume 41, Issue 4, December 2021, Pages 1-48 PDF (529.09 K) | ||
| DOI: 10.21608/caf.2021.221114 | ||
| Author | ||
| Bassam Samir Mohamed Baroma | ||
| Faculty of commerce Tanta University | ||
| Abstract | ||
| *Purpose: the main objective of this study is to test the relationship between numbers of variables represented the firm characteristics (market-related variables) and the extent of the level of voluntary disclosure (forward-looking disclosure) in the annual reports of Egyptian firms listed in Egyptian Stock Exchange. This study used empirically investigates hypothesized impact of market-related variables on the extent of forward-looking disclosure. *Design/methodology/approach: 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 included 49 non-financial firms listed in Egyptian Stock Exchange for the years 2017, 2018 and 2019. Statistical analysis is implemented using a multiple linear regression analysis. *Findings: the results show that audit firm size was significantly positively (in all the three years) with the level of forward-looking disclosure. However, industry type variable (which divided to: industries, cement, construction, petrochemicals and services), was found insignificantly association with the level of forward-looking information disclosed in the annual reports for all the three years. *Research limitations/implications: The results of this paper may be used by a number of users such as auditors, lenders and investors. These results may be beneficial for users when they are dealing with firms which have low profitability and high financial risk. | ||
| Keywords | ||
| The relationship; between forward; looking disclosure and market; related variables in the annual reports; Egyptian firms listed | ||
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