Institutional investors and voluntary disclosure and transparency: the case of Egypt

Doaa El-Diftar · Eleri Jones · Mohamed A. Ragheb · Mohamed Moustafa Soliman

56 citations0/0 files storedCorporate Governance

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Corporate Finance and Governance Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting

Abstract

Purpose Disclosure and transparency are major pillars of corporate governance which need to be greatly promoted in Egypt. This research aims to understand how different kinds of institutional investors affect levels of voluntary disclosure and transparency. Design/methodology/approach The research was conducted on the most active Egyptian companies over a period of five years. A voluntary disclosure checklist was first developed to assess levels of voluntary disclosure and transparency. Findings Empirical results support significant positive impacts of both bank ownership and foreign ownership on voluntary disclosure and transparency. Among the four firm characteristics controlled for in the research, firm size was the only one with a highly significant positive impact on voluntary disclosure and transparency. Research limitations/implications The results of this research may not be generalized to all companies, as it was only conducted on the most active firms on the Egyptian Exchange. Therefore, it is recommended that future researches integrate a more diversified sample. Practical implications The research provides empirical evidence that institutional investors are not a homogeneous group and that different kinds of institutional ownership impact differently on voluntary disclosure and transparency. As such, some institutional investors are more influential than others when it comes to increasing corporate voluntary disclosure and transparency and in reducing agency problems. Originality/value This research offers assistance to policy makers interested in enhancing corporate disclosure and transparency. It is particularly important during any adjustment to ownership policies in Egypt.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 56 citations exist upstream.

References

1983The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields 2004The iron cage revisited institutional isomorphism and collective rationality in organizational fields 1997A Survey of Corporate Governance 1983The Iron Caged Revisited : Institutional Isomorphism and Collective Rationality in Organizational Fields 1973The Economic Theory of Agency: The Principal's Problem.2002Culture, Corporate Governance and Disclosure in Malaysian Corporations 2003Corporate governance and voluntary disclosure 2010Does governance travel around the world? Evidence from institutional investors

Cited by

2021Does ownership type affect environmental disclosure?2021Voluntary disclosure and complexity of reporting in Egypt: the roles of profitability and earnings management 2022Ownership concentration and its influence on transparency and disclosures of banks in India 2022Ownership concentration and Covid-19 disclosure: the mediating role of corporate leverage 2021Integrated reporting, textual risk disclosure and market value

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.