The relationship between religiosity and voluntary disclosure quality: a cross-country evidence from the banking sector

Rami Ibrahim A. Salem · Ernest Ezeani · Xi Song

39 citations0/0 files storedReview of Quantitative Finance and Accounting

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Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting Financial Reporting and XBRL

Abstract

Abstract This study examines whether there is a relationship between religiosity and voluntary disclosure quality (VD_Q). We utilise a three-dimensional approach to capture the VD_Q on an international sample of 1,484 bank-year observations in 12 countries of the Middle East and North Africa (MENA) region over 14 years period from 2006 to 2019. Our findings indicate that religiosity is positively associated with banks' VD_Q. Our findings also show that the association between religiosity and VD_Q is more noticeable in banks operating in countries with a low level of legal protection, low level of control of corruption and during the crisis period. We further illustrate that the influence of religiosity is more intense on the spread and usefulness of information dimensions than the quantity dimension. These empirical findings are robust to alternative proxies of religiosity and sample specification. This result supports the notion that religiosity enhances corporate disclosure quality and reduces the asymmetric information gap between managers and outside users of information.

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References

1991Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations 1990Institutions, Institutional Change and Economic Performance 1998Initial conditions and moment restrictions in dynamic panel data models 1984Corporate financing and investment decisions when firms have information that investors do not have 1984Upper Echelons: The Organization as a Reflection of Its Top Managers 2001Corporate Social Responsibility: A Theory of the Firm Perspective 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature 2010Signaling Theory: A Review and Assessment

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