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49256

Does Ownership Structure have an Effect on Corporate Voluntary Disclosure ? : An Application on an Emerging Market

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Last updated: 04 Jan 2025

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Abstract

Most researches carried out to investigate the impact of different types of ownership structure on corporate voluntary disclosure were focused on developed capital markets; which prompts the need to test whether same findings apply on emerging markets. Therefore, the researchers were interested to conduct the study on the most active firms in the Egyptian stock exchange, as one of the largest emerging markets in the Middle East. For the aim of this research, a sample of non- financial Egyptian companies is analyzed, from the annual reports of ‘the 50 most active firms in Egypt, over the period of six years, from 2006 until 2011. To investigate the impact of the different ownership types of corporate structure on the extent of voluntary disclosure of Egyptian firms, a multiple regression model is carried out. The regression results show that only two hypotheses are supported, while two other hypotheses are not supported. The research's findings indicate a significant negative relationship between the managerial ownership and corporate voluntary disclosure, between the institutional ownership and corporate voluntary disclosure, and between the state ownership type of corporate structure and the extent of voluntary disclosure of Egyptian listed companies. The research's findings also indicate a significant positive relationship between the concentrated ownership and corporate voluntary disclosure. In addition, for the control variables, the firm's Profitability, size and leverage are found to have an insignificant association to the corporate voluntary disclosure of Egyptian listed firms.

DOI

10.21608/atasu.2016.49256

Keywords

الافصاح المحاسبي, هيکل الملکية, الافصاح الاختياري

Authors

First Name

S. Dina

Last Name

Fadaly

MiddleName

-

Affiliation

الاکاديمية العربية للعلوم والتکنولوجيا والنقل البحري

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Volume

20

Article Issue

8

Related Issue

7584

Issue Date

2016-12-01

Receive Date

2019-09-23

Publish Date

2016-12-01

Page Start

107

Page End

141

Print ISSN

2356-8402

Online ISSN

2682-3128

Link

https://atasu.journals.ekb.eg/article_49256.html

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https://atasu.journals.ekb.eg/service?article_code=49256

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10

Type

المقالة الأصلية

Type Code

907

Publication Type

Journal

Publication Title

الفکر المحاسبى

Publication Link

https://atasu.journals.ekb.eg/

MainTitle

Does Ownership Structure have an Effect on Corporate Voluntary Disclosure ? : An Application on an Emerging Market

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Article

Created At

22 Jan 2023