Marzouk, Mahmoud (2016) Risk Reporting During a Crisis: Evidence from the Egyptian Capital Market. Journal of Applied Accounting Research, 17 (4). pp. 378-396. ISSN 0967-5426
Abstract
Research purpose: This paper examines corporate risk disclosure (CRD) practices and determinants in the annual reports of Egyptian listed companies during the 2011 political crisis (uprising) in Egypt.
Design/Methodology/Approach: Content analysis of the annual reports of a sample of nonfinancial listed companies representing different industry sectors was conducted to investigate attributes and factors underlying their risk disclosures.
Findings: The findings demonstrate that companies disclosed more monetary, future and good risk information. The results show a positive and significant relationship between company size and the level of CRD, a positive but insignificant relationship between the extent of CRD and some company-specific characteristics: industry type, profitability and cross-listing, and a negative and insignificant relationship between corporate reserves and the level of CRD.
Research Limitations/Implications: A larger sample size would be needed for greater generalization of the findings. This study extends the literature on CRD by examining CRD practices at a time of current and ongoing crisis. However, more research is needed to examine variations in CRD practices before and after the 2011 political crisis.
Practical Implications: The results could be used by information users, companies and the capital market authority to inform policy-making and tighten regulations to improve CRD. Recommendations are made for improving the quality and informativeness of risk information.
Originality/Value: It is important to investigate CRD practices, considering the dearth of research, particularly in emerging capital markets and during crises, when companies are exposed to more, especially uncontrollable, risks. This study fills a void in literature by examining CRD practices during the 2011 political crisis in Egypt.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © Emerald, 2016. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details |
Keywords: | Risk, CRD, Annual Reports, Content Analysis, Crisis, Egypt |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > The York Management School |
Depositing User: | Mr Mahmoud Marzouk |
Date Deposited: | 16 Dec 2016 13:59 |
Last Modified: | 01 Jan 2018 01:38 |
Status: | Published |
Publisher: | Emerald |
Refereed: | Yes |
Identification Number: | 10.1108/JAAR-02-2015-0012 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:93168 |