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عنوان فارسی مقاله:
سنجش ارتباط گزارش اینترنتی شرکت: مورد مصر
عنوان انگلیسی مقاله:
The value relevance of corporate internet reporting: The case of Egypt
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مقدمه انگلیسی مقاله:
1. Introduction
This paper examines the value relevance of Corporate Internet Reporting (CIR) provided by Egyptian listed companies.1 In particular, it investigates the relationship between the level of a firm's CIR and its market value; it examines the usefulness of CIR by investigating whether market participants (investors) value this information when making equity pricing decisions. The approach assumes that accounting information is value relevant (decision useful) if it is capable of making a difference to an investor's decision and its publication is associated with a significant share price change (Barth, Beaver, & Landsman, 2001). The rapidly changing nature of the global business environment has meant that traditional paper-based annual reports have serious limitations and are becoming increasingly less timely, especially with the increase in geographic investor dispersion; they have thus become less useful for decision-making purposes (Ashbaugh, Johnstone, & Warfield, 1999; Debreceny, Gray, & Rahman, 2002). In this context, Ahmed (2013) suggested that in comparison with hard copy reports, online disclosures have the ability to reach a wider proportion of geographically dispersed users with greater volumes of customizable information incorporating dynamic audio and visual communication. The change towards a web-based reporting paradigm has been made feasible by a pronounced increase in the number of internet users over the past few years. Consistent with this trend, Hindi and Rich (2010) concluded that the internet has become one of investors' most frequently used sources of information; indeed, as the supply of web-based investor relations information has risen, corporate users' demand for CIR has also increased (Debreceny, Gray, & Mock, 2001). All in all, taking into account the potential of the internet as a reporting medium, CIR practices have the ability “to enhance the qualitative characteristics of disclosure” (Debreceny et al., 2002, p. 376), thereby enhancing the usefulness of that disclosure. Bonsón and Escobar (2006, (p. 304).) acknowledged this possibility explicitly by indicating that: the application of these new technologies to the corporate reporting systems allows companies to have access to many more potential users, to personalize (sic.) the information provided taking into account different profiles, to facilitate its understanding for those users who may not be trained to interpret accounting information, to increase its quantity and quality (comparability, relevance, completeness, clarity, etc.). Greater demand for web-based financial reporting has led to an increase in the number of market participants, which might itself lead to greater market efficiency (Larrán & Giner, 2002). Furthermore, the ability of companies to provide more timely information has been enhanced, as distribution of information via websites can take place as soon as it is produced, further enhancing pricing efficiency (Larrán & Giner, 2002). The borderless nature of CIR practices also has the potential to “help listed companies to attract new shareholders, thus enabling companies to maintain a healthy demand for shares” (Craven & Marston, 1999, p. 324). Similarly, CIR practices might have an impact on the firms' market value and the cost of capital, as relevant information about companies seeking international finance will be more accessible to global investors, reducing investment risk (Debreceny et al., 2002). In terms of the pervasiveness of CIR, Debreceny et al. (2002) stated that: “internet disclosure is of importance to securities regulators, accounting standards setters, investors and to the broader accounting community” (p. 373). In keeping with this argument, the main purpose of this paper is to investigate the value relevance of CIR provided by Egyptian non-financial listed companies. Specifically, this investigation provides insight about whether investors value such information when making investment decisions
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کلمات کلیدی:
The value relevance of corporate internet reporting ... - ResearchGate https://www.researchgate.net/.../281455430_The_value_relevance_of_corporate_interne... This paper examines the value relevance of Corporate Internet Reporting (CIR) provided by Eygptain non-financial listed companies. It investigates the ... Determinants of corporate internet reporting: evidence ... - Academia.edu www.academia.edu/.../Determinants_of_corporate_internet_reporting_evidence_from... Egypt was selected to investigate corporate internet reporting for several reasons. ... We believe that internet reporting is one of the most important sources of ... Determinants of Corporate Internet Reporting: Evidence from Egypt https://www.stir.ac.uk/research/hub/publication/2526 Aly D, Simon J & Hussainey K (2010) Determinants of Corporate Internet ... to which online reporting provides value-relevant information for stakeholders. Corporate governance and the timeliness of corporate internet ... https://www.dur.ac.uk/research/directory/staff/?mode=pdetail&id=12774... This study is an examination of the timeliness of corporate internet reporting by ... The research examines the significance of several corporate governance and ... Key determinants of the voluntary adoption of corporate internet ... https://pearl.plymouth.ac.uk/handle/10026.1/343 by ANME Elsayed - 2010 - Cited by 2 - Related articles Corporate Internet reporting represents one of the voluntary types which ... Such a finding demonstrates the importance of corporate Internet reporting in the ... [PDF]Legitimacy Theory and Internet Financial Reporting - FEP www.fep.up.pt/.../Dâmaso,%20Goreti%20(Santarém);...%20Legitimacy%20Theory%... Keywords: Internet Financial Reporting (IFR), Disclosure, Legitimacy Theory ... To the companies the cost and benefits of internet disclosure are important to.
