Propensity and comprehensiveness of corporate internet reporting in Egypt

Khaled Samaha, Khaled Dahawy, Ahmed Abdel‐Meguid and Sara Abdallah

International Journal of Accounting & Information Management, 2012, vol. 20, issue 2, 142-170

Abstract: Purpose - The purpose of this study is to examine the impact of corporate governance attributes of listed Egyptian companies on the propensity (adoption) and comprehensiveness (quality) of corporate internet reporting (CIR) practices. Design/methodology/approach - This study uses archival data from the largest (top) 100 listed companies on the Egyptian Stock Exchange (EGX 100). Corporate governance attributes are captured by ownership structure (free float, managerial ownership, government ownership) and board of directors' structure (board size, board independence, CEO‐chair duality). Empirical models are used to estimate the effects of these attributes on the propensity, content, presentation, and overall comprehensiveness of CIR. Findings - The results of this study indicate mixed effects of governance attributes on the choice to adopt CIR and its quality. The results from the Binary Logistic Regression suggest that Egyptian companies with greater (less) ownership dispersion, managerial ownership, governmental ownership, and (board independence) are more likely to adopt CIR. On the other hand – and as revealed by the seemingly unrelated regressions – among CIR companies those with greater (less) ownership dispersion, board size (governmental ownership), and (board independence) have more comprehensive CIR. Originality/value - This study extends the relatively limited research on the effects of corporate governance and CIR in emerging markets. The study contributes to this literature by demonstrating how corporate governance attributes affects the choice to adopt CIR disclosure practices and the level of its quality in an emerging market such as Egypt.

Keywords: Accounting; Corporate governance; Financial reporting; Ownership structure; Egypt; Free float; Seemingly unrelated regression (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijaimp:v:20:y:2012:i:2:p:142-170

DOI: 10.1108/18347641211218452

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