Voluntary disclosure

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Ismail, T. H., and N. M. Elshaib, "Impact of market and organizational determinants on voluntary disclosure in Egyptian companies", Meditari Accountancy Research,, vol. 20, issue 2, pp. 113-133, 2012. Abstract

Purpose – The purpose of this paper is to investigate the impact of market and organizational determinants on the voluntary disclosure level of Egyptian companies.

Design/methodology/approach – Uses a disclosure index of voluntary disclosure that is based upon the following information categories: strategic information; financial information; non-financial information; and future prospect information to rate the level of disclosure. Multivariate analysis, voluntary disclosure determinants: earnings quality; ownership structure; competition intensity; information asymmetry, and possible relationships with disclosure level provide the basis for discussion.

Findings – It is found that the level of voluntary disclosure in the emerging market of Egypt ranges from low to moderate level. There is no significant relationship between a company's voluntary disclosure level and earnings quality and competition intensity, while this relationship is significant for information asymmetry and ownership structure.

Research limitations/implications – The results are constrained by the proxies that represent non-financial factors of the market.

Originality/value – This paper extends prior studies on voluntary disclosure in Egypt by looking at a comprehensive set of market and organizational factors that might affect the disclosure level, based on a structured disclosure index of strategic, financial and non-financial, and future prospect information. The findings would help boards of directors to explain the adoption of certain disclosure strategies, and understand the corporate disclosure behavior.

Ismail, T. H., "Intellectual capital reporting in knowledge economy of Egypt", International Journal of Critical Accounting, vol. 3, issue 2/3, pp. 293-317, 2011. Abstract

This study examines voluntary intellectual capital reporting (ICR) in annual reports of the top 30 companies listed in Cairo and Alexandria Stock Exchange (CASE) as well as eliciting the barriers that could hamper the development and implementation of ICR in an Egyptian setting. The study contributes to the body of research done in this area, as most of research has been conducted in developed countries. There is a lack of empirical research at organisational level in the field of intellectual capital in Egypt, which is, socially, economically and culturally different from developed countries. The results indicate that levels of voluntary disclosure of IC items are relatively low while disclosures are dominated by customer relations items. Additionally, reporting of IC is in qualitative rather than quantitative style. The most important barriers that might impact the development and implementation of IC are cost and time associated with developing IC indicators.