COVID-19 Disclosure: A Novel Measurement and Annual Report Uncertainty

Mahmoud Elmarzouky, Khaldoon Albitar, Atm Enayet Karim and Ahmed Saber Moussa
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Mahmoud Elmarzouky: Department of Accounting, Finance & Informatics, Kingston Business School, Kingston University, London KT2 7LB, UK
Khaldoon Albitar: Accounting and Financial Management Group, Faculty of Business and Law, University of Portsmouth, Portsmouth PO1 3DE, UK
Atm Enayet Karim: School of Business and Law, Global Banking School, London B5 5SE, UK
Ahmed Saber Moussa: Independent Researcher, Menoufia 32731, Egypt

JRFM, 2021, vol. 14, issue 12, 1-12

Abstract: This paper provides a unique COVID-19 disclosure measurement and investigates the association between the level of COVID-19 disclosure and uncertainty within annual reports for UK FTSE-All share non-financial firms. We used automated textual analysis to score the sampled annual reports. The results show that the level of COVID-19 disclosure varies from industry to industry. Furthermore, there is a positive relationship between COVID-19 disclosure and uncertainty in annual reports. Firms with larger boards exhibit more significant uncertainty in annual reports with COVID-19 disclosure. However, the significance of uncertainty in annual reports with COVID-19 disclosure remains at the same level with different board independence percentages. The unique findings of this paper are extremely relevant to governments, shareholders, policymakers, suppliers, and creditors.

Keywords: COVID-19 disclosure; annual report uncertainty; board size; independent directors; textual analysis (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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