The impact of corporate governance on the timeliness of corporate internet reporting by Egyptian listed companies

Managerial Finance

Volumn 34, Issue 12, 2008, Pages 848-867

  Ezat, Amr ^a   El Masry, Ahmed ^a  

^a UNIVERSITY OF PLYMOUTH   (United Kingdom)

Author keywords

Corporate governance; Egypt; Financial reporting; Online operations; Stock exchanges

Indexed keywords

EID: 85015654876     PISSN: 03074358     EISSN: 17587743     Source Type: Journal    
DOI: 10.1108/03074350810915815     Document Type: Article

References (65)

1. Abdel-Fattah, T. (2007), “Association between board characteristics, institutional ownership and voluntary disclosure: the case of Egypt”, paper presented at the 11th Annual FRBC Research Unit Conference, Cardiff.
2. Abdelsalam, O.H. and Street, D.L. (2007), “Corporate governance and the timeliness of corporate internet reporting by UK listed companies”, Journal of International Accounting, Auditing and Taxation, Vol. 16, pp. 111-30.
3. Abdulla, J.Y.A. (1996), “The timeliness of Bahraini annual reports”, Advances in International Accounting, Vol. 9, pp. 73-88.
4. Accounting Principles Board (APB) (1970), “Basic concepts and accounting principles underlying financial statements of business enterprises”, Statement No. 4, American Institute of Certified Public Accountants, October.
5. Adams, C., Hill, W.Y. and Roberts, C.B. (1998), “Corporate social reporting practices in Western Europe: legitimation corporate behaviour”, British Accounting Review, Vol. 30, pp. 1-21.
6. Ahmed, K. and Nicholls, D. (1994), “The impact of non-financial company characteristics on mandatory disclosure compliance in developing countries: the case of Bangladesh”, The International Journal of Accounting, Vol. 29, pp. 62-77.
7. American Institute of Certified Public Accountants (AICPA) (1973), “Report of the study group on the objectives of financial statements”, October, AICPA, NY (usually referred to as the Trueblood Report).
8. Ashbaugh, H., Johnstone, K.M. and Warfield, T.D. (1999), “Corporate reporting on the internet”, Accounting Horizons, Vol. 13, pp. 241-57.
9. Barac, K. (2004), “Financial reporting on the internet in South Africa”, Meditarin Accountancy Research, Vol. 12, pp. 1-20.
10. Beaver, W.H. (1968), “The information content of annual earnings announcements”, Journal of Accounting Research, Vol. 6, pp. 67-99.
11. Bollen, L., Hassink, H. and Bozic, G. (2006), “Measuring and explaining the quality of internet investor relations activities: a multinational empirical analysis”, International Journal of Accounting Information Systems, Vol. 7, pp. 273-98.
12. Bonsón, E. and Escobar, T. (2002), “A survey on voluntary disclosure on the internet: empirical evidence from 300 European Union companies”, The International Journal of Digital Accounting Research, Vol. 2, pp. 27-51.
13. Brennan, N. and Hourigan, D. (2000), “Corporate reporting on the internet by Irish companies”, Irish Accounting Review, Vol. 7, pp. 107-35.
14. Carslaw, C.A. and Kaplan, S.E. (1991), “An examination of audit delay: further evidence from New Zealand”, Accounting and Business Research, Vol. 22 No. 85, pp. 21-32.
15. Chambers, A.E. and Penman, S.H. (1984), “Timeliness of reporting and the stock price reactions to earnings announcements”, Journal of Accounting Research, Vol. 22 No. 1, pp. 21-47.
16. Chen, C.J.P. and Jaggi, B. (2000), “Association between independent non-executive directors, family control and financial disclosures in Hong Kong”, Journal of Accounting and Public Policy, Vol. 19, pp. 285-310.
17. Cooke, T.E. (1991), “An assessment of voluntary disclosure in the annual reports of Japanese corporations”, The International Journal of Accounting, Vol. 26, pp. 174-89.
18. Cooke, T.E. (1993), “Disclosure in Japanese corporate annual reports”, Journal of Business Finance and Accounting, Vol. 20 No. 4, pp. 521-36.
19. Craven, B.M. and Marston, C.L. (1999), “Financial reporting on the internet by leading UK companies”, European Accounting Review, Vol. 8, pp. 321-33.
20. Davey, H. and Homkajohn, K. (2004), “Corporate internet reporting: an Asian example”, Problems and Perspectives in Management, Vol. 2, pp. 211-27.
21. Davies, B. and Whittred, G.P. (1980), “The association between selected corporate attributes and timeliness in corporate reporting: further analysis”, ABACUS, Vol. 16 No. 1, pp. 48-60.
22. Debreceny, R. and Rahman, A. (2005), “Firm-specific determinants of continuous corporate disclosure”, The International Journal of Accounting, Vol. 40, pp. 249-78.
23. Debreceny, R., Gray, G.L. and Rahman, A. (2002), “The determinants of internet financial reporting”, Journal of Accounting and Public Policy, Vol. 21, pp. 371-94.
24. Eng, L.L. and Mak, Y.T. (2003), “Corporate governance and voluntary disclosure”, Journal of Accounting and Public Policy, Vol. 22, pp. 325-45.
25. Ettredge, M., Richardson, V.J. and Scholz, S. (2001), “The presentation of financial information at corporate web sites”, International Journal of Accounting Information Systems, Vol. 2, pp. 149-68.
26. Ettredge, M., Richardson, V.J. and Scholz, S. (2002), “Timely financial reporting at corporate web sites?”, Communications of the ACM, Vol. 45, pp. 67-71.
27. FASB (1979), “Proposed statement of financial accounting concepts, qualitative characteristics: criteria for selecting and evaluating financial accounting and reporting policies”, Stamford, CT.
28. FASB (2000), Electronic Distribution of Business Reporting Information, Financial Accounting Standards Board, Stamford, CT.
29. Fisher, R., Laswad, F. and Oyelere, P. (2000), “Financial reporting on the internet”, Chartered Accountants Journal of New Zealand, Vol. 2 No. 2, pp. 68-72.
30. Frankel, R., McNichols, M. and Wilson, G.P. (1995), “Discretionary disclosure and external financing”, The Accounting Review, Vol. 70, pp. 135-50.
31. García-Borbolla, A., Larrán, M. and López, R. (2005), “Empirical evidence concerning SMEs’ corporate websites: explaining factors, strategies and reporting”, The International Journal of Digital Accounting Research, Vol. 5, pp. 171-202.
32. Ghazali, N.A.M. and Weetman, P. (2006), “Perpetuating traditional influences: voluntary disclosure in Malaysia following the economic crisis”, Journal of International Accounting, Auditing and Taxation, Vol. 15, pp. 226-48.
33. Givoly, D. and Palmon, D. (1982), “Timeliness of annual earnings announcements: some empirical evidence”, Accounting Review, Vol. 58 No. 3, pp. 486-508.
34. Gujarati, D.N. (2003), Basic Econometrics, McGraw Hill, New York, NY.
35. Gul, F.A. and Leung, S. (2004), “Board leadership, outside directors expertise and voluntary corporate disclosures”, Journal of Accounting and Public Policy, Vol. 23, pp. 351-79.
36. Haniffa, R.M. and Cooke, T.E. (2002), “Culture, corporate governance and disclosure in Malaysian corporations”, ABACUS, Vol. 38, pp. 317-49.
37. Hedlin, P. (1999), “The internet as a vehicle for investor relations: the Swedish case”, European Accounting Review, Vol. 8, pp. 373-81.
38. Ho, S.S.M. and Wong, K.S. (2001), “A study of the relationship between corporate governance structures and the extent of voluntary disclosure”, Journal of International Accounting, Auditing and Taxation, Vol. 10, pp. 139-56.
39. Hossain, M., Tan, M.L. and Adams, M.B. (1994), “Voluntary disclosure in an emerging capital market: some empirical evidence from companies listed on the KLS”, The International Journal of Accounting, Vol. 29, pp. 334-51.
40. Huther, J. (1997), “An empirical test of the effect of board size on firm efficiency”, Economics Letters, Vol. 54, pp. 259-64.
41. Internet Usage Statistics (2007), “Information and Decision Support Centre (IDSC), The Egyptian Cabinet, Cairo.
42. Ismail, T.H. (2002), “An empirical investigation of factors influencing voluntary disclosure of financial information on the internet in the GCC countries”, working paper, available at: SSRN: http://ssrn.com/abstract=420700
43. John, K. and Senbet, L.W. (1998), “Corporate governance and board effectiveness”, Journal of Banking and Finance, Vol. 22, pp. 371-404.
44. Jones, J.P. and Stanwick, S. (2001), “Electronic-based financial reporting”, CPA Journal, Vol. 60, pp. 31-4.
45. Karim, W., Ahmed, K. and Islam, A. (2006), “The effect of regulation on timeliness on corporate financial reporting: evidence from Bangladesh”, JOAAG, Vol. 1, pp. 15-35.
46. Kross, W. and Schroeder, D.A. (1984), “An empirical investigation of the effect of quarterly earnings announcement timing on stock returns”, Journal of Accounting Research, Vol. 22 No. 1, pp. 153-76.
47. Lang, M. and Lundholm, R. (1993), “Cross-sectional determinants of analyst ratings of corporate disclosure”, Journal of Accounting Research, Vol. 31, pp. 246-71.
48. Larrán, M. and Giner, B. (2002), “The use of the internet for corporate reporting by Spanish companies”, The International Journal of Digital Accounting Research, Vol. 2, pp. 53-82.
49. Lybaert, N. (2002), “On-line financial reporting. An analysis of the Dutch listed firms”, The International Journal of Digital Accounting Research, Vol. 2, pp. 195-234.
50. Malone, D., Fries, C. and Jones, T. (1993), “An empirical investigation of the extent of corporate financial disclosure in the oil and gas industry”, Journal of Accounting, Auditing and Finance, Vol. 8, pp. 249-73.
51. Marston, C. and Polei, A. (2004), “Corporate reporting on the internet by German companies”, International Journal of Accounting Information Systems, Vol. 5, pp. 285-311.
52. Momany, M.T. and Al-Shorman, S.A.-D. (2006), “Web-based voluntary financial reporting of Jordanian companies”, International Review of Business Research Papers, Vol. 2, pp. 127-39.
53. Oyelere, P., Laswad, F. and Fisher, R. (2003), “Determinants of internet financial reporting by New Zealand companies”, Journal of International Financial Management and Accounting, Vol. 14, pp. 26-63.
54. Petravick, S. and Gillet, J. (1998), “Distributing earnings reports on the internet”, Management Accounting, Vol. 80, pp. 54-6.
55. Pirchegger, B. and Wagenhofer, A. (1999), “Financial information on the internet: a survey of the homepages of Austrian companies”, The European Accounting Review, Vol. 8, pp. 383-95.
56. Raffournier, B. (1995), “The determinants of voluntary financial disclosure by Swiss listed companies”, European Accounting Review, Vol. 4, pp. 261-80.
57. Singh, M., Mathur, I. and Gleason, K.C. (2004), “Governance and performance implications of diversification strategies: evidence from large US firms”, Financial Review, Vol. 39, pp. 489-526.
58. Soltani, B. (2002), “Timeliness of corporate and audit reports: some empirical evidence in the French context”, International Journal of Accounting, Vol. 37, pp. 215-46.
59. Sriram, R.S. and Laksmana, I. (2006), “Corporate website reports: some evidence on relevance and usefulness”, Information Resources Management Journal, Vol. 19, pp. 1-17.
60. Trabelsi, S. and Labelle, R. (2006), “Evidence that corporate websites is a part of the firm's overall disclosure package”, working paper, Brock University, St Catherines, available at: http://accounting.uwaterloo.ca/seminars/old_papers/TrabelsiLabelleWP-may2-2006.pdf
61. Wallace, R.S.O. and Naser, K. (1995), “Firm-specific determinants of the comprehensiveness of mandatory disclosure in the corporate annual reports of firms listed on the Stock Exchange of Hong Kong”, Journal of Accounting and Public Policy, Vol. 14, pp. 311-68.
62. Wallace, R.S.O.Naser, K. and Mora, A. (1994), “The relationship between the comprehensiveness of companies annual reports and firm characteristics in Spain”, Accounting and Business Research, Vol. 25 No. 97, pp. 353-7.
63. Weir, C. and Laing, D. (2001), “Governance structures, director independence and corporate performance in the UK”, European Business Review, Vol. 13, pp. 86-94.
64. Xiao, J.Z., Yang, H. and Chow, C.W. (2004), “The determinants and characteristics of voluntary internet-based disclosures by Chinese listed companies”, Journal of Accounting and Public Policy, Vol. 23, pp. 191-225.
65. Yermack, D. (1996), “Higher market valuation of companies with a small board of directors”, Journal of Financial Economics, Vol. 40, pp. 185-211.