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2014, Asian Journal of Finance & Accounting
In this study, we investigate whether quick assets ratio, current assets ratio, ROE, ROA, and financial leverage ratioas information disclosure quality determinants are related to information disclosure quality. Based on 240 Iranian firm-year observations over the period
Asian Journal of Finance & Accounting, 2012
Our paper aims to examine the relationship disclosure quality and Firm characteristics for a sample of 80 firms listed in the Iran financial market during 2006-2009. We use a linear regression analysis to examine the association between the disclosure quality and firm's characteristics measured by variables such as Current ratio, Acid ratio, Firm Size and P/B ratio.The results of study show that the disclosure quality is having positive and significant relation with Current Acid and P/B ratios. Also, we find that there is a significant and negative association between disclosure quality and Firm Size.
Acta Universitatis Danubius Oeconomica, 2013
Modern accounting emphasizes on nonfinancial measures as a device to compensate the financial measures' weakness and the financial measures are recommended to be used with nonfinancial ones. This study is to examine the factors influencing the nonfinancial information disclosure quality in the firms listed in Tehran stock exchange. So the necessary information were gathered from 102 firms listed in Tehran stock exchange in 2008-2012. The regression analysis was used to test the hypotheses. A model including 50 indexes based on Iran accounting standards and other regulations concerning disclosure were used to measure nonfinancial information disclosure quality. The findings indicate firm life and profitability have positive and significant effect on nonfinancial information disclosure quality and financial leverage has negative and significant effect on it.
This study investigated the influence of firm-specific characteristics which include proportion of Non-Executive Directors, ownership concentration, firm size, profitability, debt equity ratio, liquidity and leverage on the extent and quality of financial ratios disclosed by firms listed on the Ghana Stock Exchange. The research was conducted through detailed analysis of the 2012 financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the extent of financial ratio disclosure level, mean of 62.78%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly disclose such ratios in their annual reports. The results of the low quality of financial ratio disclosure mean of 6.64% indicate that the disclosures failed woefully to meet the International Accounting Standards Board's qualitative characteristics of relevance, reliability, comparability and understandability. The results of the multiple regression analysis show that leverage (gearing ratio) and return on investment (dividend per share) are associated on a statistically significant level as far as the extent of financial ratio disclosure is concerned. Board ownership concentration and proportion of (independent) non-executive directors, on the other hand were found to be statistically associated with the quality of financial ratio disclosed. There is a significant negative relationship between ownership concentration and the quality of financial ratio disclosure. This means that under a higher level of ownership concentration less quality financial ratios are disclosed. The findings also show that there is a significant positive relationship between board composition (proportion of non-executive directors) and the quality of financial ratio disclosure.
Environmental Energy and Economic Research, 2022
This study seeks to explain the effect of quality of financial information disclosure on shareholder behavior with emphasis on biological characteristics (life cycle and reputation) of the reporting unit. Given the content of information in financial statements, it is expected that increasing the quality of financial statements disclosure will affect shareholder decisions. Given that the reporting units in the introduction and growth phase of the life cycle try to gain market reputation by gaining a good reputation, take more appropriate measures to increase the quality of disclosure. The sample of the present study is the active companies of Tehran Stock Exchange including the period of 1390 to 1397. The reason for the limitation in sample selection was due to the way in which the shareholder behavior variable was measured. The results show that the quality of disclosure and the long life of the reporting unit (RU) affect the behavior of shareholders and increase the liquidity of its shares. But shareholder behavior is not affected by a good reputation. Based on the research results, reporting units can put quality information on their agenda to increase the efficiency of the capital market in Iran.
Journal of Applied Business Research (JABR)
This paper studies the relationship between the disclosure level and firm-specific characteristics of firms listed on the Tehran Stock Exchange (TSE). Our study contributes to the firm financial disclosure literature by documenting the empirical evidence on the relationship between CEO tenure and firm disclosure. We use firms’ disclosure scores released by the Iranian Securities and Exchange Organization (SEO) that measure the disclosure level of listed companies. The research data consists of 2,719 firm-year observations from 404 Iranian listed firms on the TSE for 2003-2014. Using regression analyses, we find that longer CEO tenure improves the level of disclosure. Also, we document that firm profitability, liquidity, and asset-in-place have a positive effect on the disclosure level. Moreover, we report that leverage, age, and market share have an inverse effect on the disclosure level.
2014
This study makes a contribution to the risk disclosure quality (RDQ) literature by offering the first study in Egypt. This study develops a framework to assess the risk disclosure quality and examines the determinants of RDQ practices. We develop a framework for analyzing the quality of risk disclosure practices. This framework is based on four criteria: “Relevance”, “Understandability”, “Comparability” and “Verifiability”. Using a sample of the Egyptian listed companies for the period of 2006-2010 (consists of 135 observations), we find that there is an improvement in all criteria of risk disclosure quality, and the risk information is relevant and understandable to some extent, but it is less comparable and verifiable. Results of the statistical analysis revealed that the firm size and leverage level are the most important determinants of the risk disclosure quality.
Academy of Accounting and Financial Studies Journal, 2020
This paper critically examines the voluntary disclosure quality, and its determinants among manufacturing companies listed on Amman Stock Exchange. The study developed a disclosure index based on prior related studies, and in the light of literature review and previous studies, the determinants of voluntary disclosure were examined. Furthermore, the study relied on information extracted from the annual reports of (40) listed manufacturing companies, for the year 2019, and used different statistics methods and techniques such as mean, standard deviation, correlation and regression to define the voluntary disclosure quality (level), and its determinants. The results indicate that there is a positive correlation between company's size, age, and profitability on one hand, and between the quality of voluntary disclosure on the other hand. In addition, the results indicate a weak and insignificant relation between the assets in place and financial leverage, and the level of voluntary ...
2015
In this study, the impact of financial reporting transparency on the debt cost of companies that have been listed in the Tehran Stock exchange has been investigated. The population of the present study is companies that have been listed in Tehran Stock Exchange during the years 2007 to 2012.Sample size base on screening method is 120 companies. In this study the components of financial reporting transparency include financial information transparency, management information transparency, transparency of ownership structure information and equity of companies owner are consider as independent variables in order to investigate the debt cost of companies. The results of multivariable regression data analysis at %95 significant level shows that the components of financial reporting transparency play an adverse role on the debt cost of companies. On the other hand, financial information transparency has highest adverse impact on the debt cost and in addition transparency of ownership str...
Journal of Management Development, 2020
PurposeThe purpose of this research paper is to provide a model for reporting quality of financial information based on behavior of listed companies in Tehran Stock Exchange which is based on structural equation modeling approaches.Design/methodology/approachThis study uses applied research and postsemi experimental method of data collection in the field of proofing accounting research with deductive–inductive approach. The statistical population of this study includes the sample of 128 listed companies in the Tehran Stock Exchange between 2007 and 2017. The behavioral characteristics of managers (hidden variables) are measured by observable variables of myopia, opportunistic behavior and overconfidence of managers. Reporting quality of financial information is also investigated based on the scores accrued to each company and the announcement published by the Tehran Stock Exchange based on the companies' rating in terms of the quality of reporting and proper notification.Finding...
International Journal of Business and Society
The national accounting standards set by the Malaysian Accounting Standards Board (MASB) is largely converged with the International Financial Reporting Standards (IFRS). The benefit arising from this is to enable foreign investors to analyse their investments via a standardised financial reporting system in Malaysia. Financial reporting disclosure quality by the listed firms in the consumer product and service sector on Bursa Malaysia is an essential feature in the firms’ financial reporting to the public. This research evaluates the development of financial reporting disclosure quality assurance by firms listed on Bursa Malaysia, by examining financial reporting disclosure quality and subsequent compliance with the International Financial Reporting Standards. This study uses a content analysis approach to identify a financial reporting standard compliance disclosure index, based the financial statements issued by firms listed on Bursa Malaysia from 2008 – 2016. A panel regression ...
Journal of Accounting and Finance in Emerging Economies
Purpose: This study aims at examining the factors determining the quality of accounting information disclosure in Nigerian firms. The study made use of secondary data obtained from the Nigerian stock exchange. Ordinary least square regression technique was used to test the hypothesis for this study. The study found a positive relationship between firm size and disclosure quality. Institutional ownership, firm performance and earnings per share also had a positive relationship with disclosure quality. Firm leverage was found to have a negative relationship with disclosure quality. This study recommends that firms should introduce the idea of institutional ownership and also leverage usage should be minimized.
2014
In this study the quality of financial reporting, investment and quality of disclosure with emphasis on type of financing of companies listed in Tehran Stock Exchange have been investigated for a period 2006 to 2011. Research method of present study is multivariate regression method based on combined data. The results of the analysis of 133 companies for a period 2006 to 2011 showed in 95% confidence level that the contrasting relationship between financial reporting quality and sensitivity of corporate investment by bank financing and financing through shares issuing is reverse. These results also indicated an inverse relationship (negative) between quality of disclosure and bank financing. Moreover, there was a significant positive correlation between quality of disclosure with financing through shares issuing and bank financing, and quality of disclosure has positive effect on sensitivity of companies’ investment.
International Journal of Accounting, Auditing and Performance Evaluation, 2012
This study extends prior research by investigating the influence of firm characteristics on voluntary disclosure of financial ratios in the annual reports of Turkish listed companies. The sample consists of industrial firms listed in the Istanbul Stock Exchange (ISE). The firms' annual reports were downloaded from their corporate websites. As methodology, content analysis was utilised to determine the financial ratio disclosure level of the firms. The findings revealed that Turkish listed firms disclose, on the average, 5.37 financial ratios in their annual reports. Count data regression models (Poisson and Negative binomial) were used to test the hypotheses. The results of multivariate analyses indicate that firm size, auditor size, profitability and ownership diffusion have significant positive association with voluntary disclosure level of financial ratios, while leverage does not.
2018
The relationship between financial reporting quality and corporate performance in the imperfect Iranian market is very important for investors, such that one of the main concerns of shareholders is to be informed about corporate performance. On the other hand, information is provided to stakeholders through financial reports and facilitates investment decisions. The aim of this study is to evaluate the effects of financial reporting quality on corporate performance in Iran where this relationship between financial reporting quality criteria and corporate performance has not been investigated yet. In order to test these relationships, 80 listed companies on the Tehran Stock Exchange during the period 2006 2014 were studied and analyzed. In this study, three separate methods (contingent income, accrual items, and accruals quality of working capital) and a composite method used to evaluate the quality of financial reporting and in order to calculate the corporate performance, we used t...
2020
In this study the quality of financial reporting, investment and quality of disclosure with emphasis on type of financing of companies listed in Tehran Stock Exchange have been investigated for a period 2006 to 2011. Research method of present study is multivariate regression method based on combined data. The results of the analysis of 133 companies for a period 2006 to 2011 showed in 95% confidence level that the contrasting relationship between financial reporting quality and sensitivity of corporate investment by bank financing and financing through shares issuing is reverse. These results also indicated an inverse relationship (negative) between quality of disclosure and bank financing. Moreover, there was a significant positive correlation between quality of disclosure with financing through shares issuing and bank financing, and quality of disclosure has positive effect on sensitivity of companies' investment.
Periodica Polytechnica Social and Management Sciences, 2016
The current study examines the effect of audit quality and internal and external corporate governance on the quality of disclosure of financial statements. In order to achieving the objectives of the study 7 hypotheses about audit quality and 7 hypotheses about internal and external corporate governance are postulated in the current study during 2009-2014 in Iran. Data analyzed in two regression models via the R software. The results indicate that there is no significant positive relationship between independent audit quality and the quality of disclosure of financial statements information, but there is a significant relationship between corporate governance and the quality of disclosure of financial statements information. So far, the current study is the first paper on the subject which conducted in the developing country such like Iran, the results of the study may give the strength to the auditing literature.
European Online Journal of Natural and Social Sciences, 2014
The purpose of this paper is to examine empirically the impact of financial reporting quality on information asymmetry in Iran. Using three different attributes of financial reporting quality including: accruals quality, earnings persistence and earnings predictability, data analysis over a period of five years (2008–2012) revealed that accruals quality is negatively and significantly associated with information asymmetry. We also find that, firms with more earnings predictability have lower level of information asymmetry. However, contrary to expectation, we fail to find a significant association between earnings persistence and Iranian firm’s information asymmetry. These findings have implications for policy makers, managers, investors and researchers in general and those in emerging markets in particular. Normal 0 false false false RU X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Обычная таблица"; mso-tstyle-rowband-size:0; mso-tstyle-colba...
Journal of Risk and Financial Management
The paper aims to investigate the effect of financial leverage, profitability, liquidity ratios, cash holdings, and interest coverage ratios on the level of integrated reporting disclosure—as one of the reports that promotes sustainable development—of Jordanian industrial listed companies. The content analysis method was used to analyze the annual reports of 51 listed Jordanian industrial companies during the years from 2014 to 2019 (306 firm-year observations). The analysis showed that financial leverage, profitability, liquidity and cash holdings are important determinants for integrated reporting, whereas the analysis did not support the effect of the interest coverage ratio. To the best of our knowledge, this is the first empirical study that deals with the impact of a set of financial variables on integrated reporting in the context of emerging countries such as Jordan. This is also the first study that deals with disclosing integrated reports through the perspective of shareho...
2012
This paper studies the effect of the quality of information disclosure on profit information content and the book value of the equity of 256 firms listed on Tehran Stock Exchange (TSE) during 2002-2009. To this aim, and to determine if there is any linear correlation between the research variables, various tests such as Pearson’s and Spearman’s correlation tests as well as Fisher, Limer, Hausman, Durbin-Watson, Wald, and Vaung’s statistics methods were used. The results showed that: 1) the incremental and relative information content of the book value is little; 2) the profit information content is significantly higher than that of the book value; and 3) the quality of information disclosure in the studied firms did not have a significant impact on the information content of earnings and the book value of equity. [Seyyed Majid Eslamzadeh, Seyed Ali Vaez, Ali Ramezan Ahmadi. The Effect of the Quality of Information Disclosure on Profit Information content and the Book Value of the Eq...
2021
The present study aims to empirically verify the factors affecting the level of transparency and disclosure provided in the annual reports of Iraqi companies listed in Iraq Stock Exchange. The level of transparency and disclosure was measured in the published annual reports of 30 Iraqi companies listed on the market for the period 2013-2017 distributed across five sectors using the Standard and Poor's methodology. The results showed that the average rate of transparency and disclosure for all companies for the five years was approximately 42%. A regression analysis conducted on the same sample indicated five factors (determinants) that influence transparency and disclosure levels. Three factors were positively related: size, age and activity of the company, while leverage and auditor type were negatively related. Moreover, no significant effect of profitability ratios was identified on transparency and disclosure levels. Such findings are not only useful in providing support for...
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