Abstract: The objective of this paper is to examine various determinants of compliance with IASs ... more Abstract: The objective of this paper is to examine various determinants of compliance with IASs using a significantly larger and more random representative sample of 281 Egyptian listed annual reports. The analysis is extensive, including the use of relative total and partial indices. The multivariate analysis of the impact of micro level firm-specific determinants supports the proposition that these firms' compliance is responsive to specific attributes of their environment. However, professionalism as measured by the type of auditor (proxy for ...
International Journal of Disclosure and Governance, 2011
Abstract This study aims to provide further evidence on the nature of Web-based corporate disclos... more Abstract This study aims to provide further evidence on the nature of Web-based corporate disclosures (WCD) by Egyptian listed firms. Moreover, the study aims to assess the developments in WCD by Egyptian listed firms in light of the practices adopted by the top UK firms (FTSE 100). It also aims to provide evidence on the determinants of WCD. The findings from the current study are in line with previous research in an Egyptian context covering the period 2006–2008, which indicates that no developments in WCD practices are observed ...
... more investment opportunities and stimulated market sophistication as investors began to focu... more ... more investment opportunities and stimulated market sophistication as investors began to focus on private ... of attitudes of Egyptian investors to compliance with EASs according to their legal form ... was designed for ease of comparability with previous disclosure research in Egypt ...
This study examines the level of corporate governance disclosure in Egypt and explores the attitu... more This study examines the level of corporate governance disclosure in Egypt and explores the attitudes of Egyptian regulators, auditors, accountants, academics and company directors about the strategies needed to enhance CG disclosure. The measurement of disclosure is based on a checklist developed by the United Nations, which was gathered using a content analysis of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Levels of CG disclosure are found to be very low, however, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs) that are based on International Financial Reporting Standards (IFRS). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to the socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms wi...
This paper examines the impact of internal control quality (ICQ) on external audit delays as prox... more This paper examines the impact of internal control quality (ICQ) on external audit delays as proxied by the auditor component of audit report lag (A‐ARL) and the effect of the adoption of the Egyptian Standards on Auditing (ESA) on this relationship in the Egyptian context. Using a balanced panel data of 344 firm‐year observations spanning from 2007 to 2010, we hypothesise and empirically find the following. First, ICQ represents a key determinant of timely disclosure, as it contributes significantly to the reduction of A‐ARL. Second, the adoption of the ESA has significantly contributed to the improvement of audit practices by reducing A‐ARL. Third, the adoption of ESA has also strengthened the relationship between A‐ARL and ICQ for the post‐adoption period of these standards. Additional analysis is conducted to examine the impact of industry characteristics on the relationship between ICQ and A‐ARL and the association remains significant regardless of the sector considered. In ord...
The contribution of this paper is to provide evidence, from a sample of 281 listed companies, abo... more The contribution of this paper is to provide evidence, from a sample of 281 listed companies, about Egyptian convergence to international accounting. We construct indices to measure both disclosure and measurement/presentation convergence, and the impacts of education and training, tax, and three company characteristics on compliance. Compliance, which is low, is associated with the volume of trading in company stocks, but not with industry sector or legal status. The findings suggest weak enforcement, and a need for education and training of accountants, and the removal of adverse tax implications for companies if increased convergence is to be achieved.
Journal of Current Research in Global Business, 2009
Recent empirical work in an Egyptian setting provided evidence about convergence to International... more Recent empirical work in an Egyptian setting provided evidence about convergence to International Accounting Standards. These studies reported that compliance is low. From a policy perspective, five issues are evident from these studies: poor compliance suggests weak enforcement, government intervention is essential to compliance, conflicting tax implications impede compliance, connection with a ‘Big Four’ audit firm increases compliance, and larger companies are more likely to comply.. Results from interviews with Egyptian accounting experts highlight the need to strengthen enforcement and corporate governance, arrange professional education and training, implement international best practices on auditor qualification and licensing, and establish an effective regulatory framework for practicing auditors in line with IFAC
Purpose – The purpose of this paper is to review a synthesis of theories and empirical studies de... more Purpose – The purpose of this paper is to review a synthesis of theories and empirical studies dealing with the adoption of and compliance with IFRS in developing countries in an attempt to provide directions for future research. Design/methodology/approach – The review focusses on four main streams including: first, the motives for IFRS adoption; second, corporate characteristics and the degree of compliance with IFRS; third, the economic consequences of IFRS adoption and finally; fourth, the use of regulation as an enforcement mechanism to monitor compliance with IFRS. The authors review empirical studies specifically devoted to developing countries. Findings – Regarding the first stream relating to IFRS adoption, the macroeconomic decision of adopting IFRS in developing countries can be justified by two main theories which are: the economic theory of network (Katz and Shapiro, 1985) and isomorphism (DiMaggio and Powell, 1991), however, empirical evidence in developing countries t...
Research in Accounting in Emerging Economies, 2010
Purpose–This study examines the factors influencing Corporate disclosure transparency as measured... more Purpose–This study examines the factors influencing Corporate disclosure transparency as measured by the level of voluntary disclosure (VD) in the annual reports of the active share trading firms in Egypt. Design/methodology/approach–The design and research method are empirical using archival data to collect information on the dependent variable (VD) and independent variables (corporate governance characteristics and company characteristics). A transformed multiple ordinary least squares (OLS) regression model was used to test ...
International Journal of Accounting, Auditing and Performance Evaluation, 2011
This paper examines the level and determinants (ie ownership structure, board composition and aud... more This paper examines the level and determinants (ie ownership structure, board composition and audit committee presence) of voluntary corporate disclosure in the annual reports of the largest 100 companies listed on the Egyptian stock exchange (EGX). Our results indicate that overall voluntary disclosure was low at just 13.43% with a large variation range. This score places Egypt at a lower level than other emerging capital markets (eg Singapore, Hong Kong and Malaysia). The variances of these results support the need for individual ...
This paper assesses the extent of corporate governance voluntary disclosure and the impact of a c... more This paper assesses the extent of corporate governance voluntary disclosure and the impact of a comprehensive set of corporate governance (CG) attributes (board composition, board size, CEO duality, director ownership, blockholder ownership and the existence of audit committee) on the extent of corporate governance voluntary disclosure in Egypt. The measurement of disclosure is based on published data created from a checklist developed by the United Nations, which was gathered from a manual review of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Although the levels of CG disclosure are found to be minimal, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms will take a long time to appraise the payback of increased CG disclosure. The findings indicate that that-ceteris paribus-the extent of CG disclosure is (1) lower for companies with duality in position and higher ownership concentration as measured by blockholder ownership; and (2) increases with the proportion of independent directors on the board and firm size. The results of the study support theoretical arguments that companies disclose corporate governance information in order to reduce information asymmetry and agency costs and to improve investor confidence in the reported accounting information. The empirical evidence from this study enhances the understanding of the corporate governance disclosure environment in Egypt as one of the emerging markets in the Middle East.
PurposeThis study aims to examine the International Standards on Auditing (ISA) number 520 relati... more PurposeThis study aims to examine the International Standards on Auditing (ISA) number 520 relating to analytical procedures (APs) and adapt relevant aspects of prior studies on APs to the Egyptian audit context. The study investigates the extent of use of APs in Egypt during the three main stages of an audit by size of firms and level of staff. It examines auditors' perceptions of the frequency and effectiveness of different types of APs in achieving a selected set of audit objectives. The study also identifies the types of assurance provided by APs and their influence on detailed testing as well as analyzing the role of auditing standards in the context of the use of APs.Design/methodology/approachThe design and research method are empirical using a questionnaire survey to collect information on actual uses of APs from 14 audit firms in Egypt which audit the 100 actively traded companies on the Egyptian Stock Exchange (EGX) as measured by the EGX 100 index. The survey was carr...
The objective of this paper is to examine various determinants of compliance with IASs using a si... more The objective of this paper is to examine various determinants of compliance with IASs using a significantly larger and more random representative sample of 281 Egyptian listed annual reports. The analysis is extensive, including the use of relative total and partial indices. The multivariate analysis of the impact of micro level firm-specific determinants supports the proposition that these firms' compliance is responsive to specific attributes of their environment. However, professionalism as measured by the type of auditor (proxy for agency and signalling theories), internal corporate governance factor as measured by ownership concentration (proxy for agency theory) and structure as measured by market capitalization (proxy for agency theory) dominate with respect to the overall explanatory power for variations in compliance levels with IASs disclosure and measurement/presentation practices (mandatory and voluntary). Although, the findings are consistent with the predictions o...
The objective of this paper is to meta-analyze a set of 1? empirical papers dealing with the dete... more The objective of this paper is to meta-analyze a set of 1? empirical papers dealing with the determinants of the degree of compliance with IASXIPRS standards. We consider firm size (proxy for agency theory), profitability [proxy for signaling theory), leverage (proxy for agency and signaling theories), auditor (proxy signaling theory), internationality (proxy for capital need theory), and ownership diffusion (proxy for agency theory). Our results provide evidence that firm size, auditor type, multi~ nationality, profitability and ownership dispersion have a positive effect on IASXIFRS compliance. Compliance with IAS/IFRS in emerging markets is suongly associated vnth firm size, auditor type, leverage, profitability and ownership dispersion. Given the low disclosure envnonment, weak investors’ protection and capital external need prevailing in these contexts; these factors are likely to enhance corporate reporting policy. -Managers comply seriously with LAS/IFRS in developing countrie...
This study examines the level of corporate governance disclosure in Egypt and explores the attitu... more This study examines the level of corporate governance disclosure in Egypt and explores the attitudes of Egyptian regulators, auditors, accountants, academics and company directors about the strategies needed to enhance CG disclosure. The measurement of disclosure is based on a checklist developed by the United Nations, which was gathered using a content analysis of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Levels of CG disclosure are found to be very low, however, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs) that are based on International Financial Reporting Standards (IFRS). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to the socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms wi...
Recent empirical work in an Egyptian setting by Samaha (2005) and Samaha and Stapleton (2008) pro... more Recent empirical work in an Egyptian setting by Samaha (2005) and Samaha and Stapleton (2008) provided evidence about Egyptian convergence to international accounting standards. These studies reported that compliance is low, at just 50% for IASs disclosure indices and 56% for IASs measurement/presentation indices. From a policy perspective 5 issues are evident from these studies. First, poor compliance suggests weak enforcement consistent with the argument of Saudagaran and Diga (1997) that government intervention in developing countries is essential to ensure reliability of financial reports. Second, compliance is higher where preparers were familiar with the regulations consistent with Cairns (2001) argument that effective implementation of new standards requires education and training of accountants. Third, removing adverse tax implications for companies is likely to increase compliance. Fourth, compliance tends to be very low unless the company is connected with a big 5 audit fi...
This paper examines the direct effect of internal control quality (ICQ) on cost of equity capital... more This paper examines the direct effect of internal control quality (ICQ) on cost of equity capital and whether the former has a moderating effect on the association between voluntary disclosure and cost of equity capital in an emerging market (Egypt). ICQ is measured using a survey of external auditors. A content analysis approach is used to proxy for the level of voluntary disclosure in annual. Finally, the Capital Asset Pricing Model (CAPM) framework is used to estimate cost of equity capital. Based on a sample of 256 firm-year observations over the period of 2007-2010, we find that ICQ is negatively and significantly associated with cost of equity capital indicating that better controls reduce cost of capital. In addition, ICQ moderates the association between voluntary disclosure and cost of equity capital since this association is only negative and significant for companies characterized by high ICQ. Our study contributes to the internal control literature by focusing on an emer...
Abstract: The objective of this paper is to examine various determinants of compliance with IASs ... more Abstract: The objective of this paper is to examine various determinants of compliance with IASs using a significantly larger and more random representative sample of 281 Egyptian listed annual reports. The analysis is extensive, including the use of relative total and partial indices. The multivariate analysis of the impact of micro level firm-specific determinants supports the proposition that these firms' compliance is responsive to specific attributes of their environment. However, professionalism as measured by the type of auditor (proxy for ...
International Journal of Disclosure and Governance, 2011
Abstract This study aims to provide further evidence on the nature of Web-based corporate disclos... more Abstract This study aims to provide further evidence on the nature of Web-based corporate disclosures (WCD) by Egyptian listed firms. Moreover, the study aims to assess the developments in WCD by Egyptian listed firms in light of the practices adopted by the top UK firms (FTSE 100). It also aims to provide evidence on the determinants of WCD. The findings from the current study are in line with previous research in an Egyptian context covering the period 2006–2008, which indicates that no developments in WCD practices are observed ...
... more investment opportunities and stimulated market sophistication as investors began to focu... more ... more investment opportunities and stimulated market sophistication as investors began to focus on private ... of attitudes of Egyptian investors to compliance with EASs according to their legal form ... was designed for ease of comparability with previous disclosure research in Egypt ...
This study examines the level of corporate governance disclosure in Egypt and explores the attitu... more This study examines the level of corporate governance disclosure in Egypt and explores the attitudes of Egyptian regulators, auditors, accountants, academics and company directors about the strategies needed to enhance CG disclosure. The measurement of disclosure is based on a checklist developed by the United Nations, which was gathered using a content analysis of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Levels of CG disclosure are found to be very low, however, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs) that are based on International Financial Reporting Standards (IFRS). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to the socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms wi...
This paper examines the impact of internal control quality (ICQ) on external audit delays as prox... more This paper examines the impact of internal control quality (ICQ) on external audit delays as proxied by the auditor component of audit report lag (A‐ARL) and the effect of the adoption of the Egyptian Standards on Auditing (ESA) on this relationship in the Egyptian context. Using a balanced panel data of 344 firm‐year observations spanning from 2007 to 2010, we hypothesise and empirically find the following. First, ICQ represents a key determinant of timely disclosure, as it contributes significantly to the reduction of A‐ARL. Second, the adoption of the ESA has significantly contributed to the improvement of audit practices by reducing A‐ARL. Third, the adoption of ESA has also strengthened the relationship between A‐ARL and ICQ for the post‐adoption period of these standards. Additional analysis is conducted to examine the impact of industry characteristics on the relationship between ICQ and A‐ARL and the association remains significant regardless of the sector considered. In ord...
The contribution of this paper is to provide evidence, from a sample of 281 listed companies, abo... more The contribution of this paper is to provide evidence, from a sample of 281 listed companies, about Egyptian convergence to international accounting. We construct indices to measure both disclosure and measurement/presentation convergence, and the impacts of education and training, tax, and three company characteristics on compliance. Compliance, which is low, is associated with the volume of trading in company stocks, but not with industry sector or legal status. The findings suggest weak enforcement, and a need for education and training of accountants, and the removal of adverse tax implications for companies if increased convergence is to be achieved.
Journal of Current Research in Global Business, 2009
Recent empirical work in an Egyptian setting provided evidence about convergence to International... more Recent empirical work in an Egyptian setting provided evidence about convergence to International Accounting Standards. These studies reported that compliance is low. From a policy perspective, five issues are evident from these studies: poor compliance suggests weak enforcement, government intervention is essential to compliance, conflicting tax implications impede compliance, connection with a ‘Big Four’ audit firm increases compliance, and larger companies are more likely to comply.. Results from interviews with Egyptian accounting experts highlight the need to strengthen enforcement and corporate governance, arrange professional education and training, implement international best practices on auditor qualification and licensing, and establish an effective regulatory framework for practicing auditors in line with IFAC
Purpose – The purpose of this paper is to review a synthesis of theories and empirical studies de... more Purpose – The purpose of this paper is to review a synthesis of theories and empirical studies dealing with the adoption of and compliance with IFRS in developing countries in an attempt to provide directions for future research. Design/methodology/approach – The review focusses on four main streams including: first, the motives for IFRS adoption; second, corporate characteristics and the degree of compliance with IFRS; third, the economic consequences of IFRS adoption and finally; fourth, the use of regulation as an enforcement mechanism to monitor compliance with IFRS. The authors review empirical studies specifically devoted to developing countries. Findings – Regarding the first stream relating to IFRS adoption, the macroeconomic decision of adopting IFRS in developing countries can be justified by two main theories which are: the economic theory of network (Katz and Shapiro, 1985) and isomorphism (DiMaggio and Powell, 1991), however, empirical evidence in developing countries t...
Research in Accounting in Emerging Economies, 2010
Purpose–This study examines the factors influencing Corporate disclosure transparency as measured... more Purpose–This study examines the factors influencing Corporate disclosure transparency as measured by the level of voluntary disclosure (VD) in the annual reports of the active share trading firms in Egypt. Design/methodology/approach–The design and research method are empirical using archival data to collect information on the dependent variable (VD) and independent variables (corporate governance characteristics and company characteristics). A transformed multiple ordinary least squares (OLS) regression model was used to test ...
International Journal of Accounting, Auditing and Performance Evaluation, 2011
This paper examines the level and determinants (ie ownership structure, board composition and aud... more This paper examines the level and determinants (ie ownership structure, board composition and audit committee presence) of voluntary corporate disclosure in the annual reports of the largest 100 companies listed on the Egyptian stock exchange (EGX). Our results indicate that overall voluntary disclosure was low at just 13.43% with a large variation range. This score places Egypt at a lower level than other emerging capital markets (eg Singapore, Hong Kong and Malaysia). The variances of these results support the need for individual ...
This paper assesses the extent of corporate governance voluntary disclosure and the impact of a c... more This paper assesses the extent of corporate governance voluntary disclosure and the impact of a comprehensive set of corporate governance (CG) attributes (board composition, board size, CEO duality, director ownership, blockholder ownership and the existence of audit committee) on the extent of corporate governance voluntary disclosure in Egypt. The measurement of disclosure is based on published data created from a checklist developed by the United Nations, which was gathered from a manual review of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Although the levels of CG disclosure are found to be minimal, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms will take a long time to appraise the payback of increased CG disclosure. The findings indicate that that-ceteris paribus-the extent of CG disclosure is (1) lower for companies with duality in position and higher ownership concentration as measured by blockholder ownership; and (2) increases with the proportion of independent directors on the board and firm size. The results of the study support theoretical arguments that companies disclose corporate governance information in order to reduce information asymmetry and agency costs and to improve investor confidence in the reported accounting information. The empirical evidence from this study enhances the understanding of the corporate governance disclosure environment in Egypt as one of the emerging markets in the Middle East.
PurposeThis study aims to examine the International Standards on Auditing (ISA) number 520 relati... more PurposeThis study aims to examine the International Standards on Auditing (ISA) number 520 relating to analytical procedures (APs) and adapt relevant aspects of prior studies on APs to the Egyptian audit context. The study investigates the extent of use of APs in Egypt during the three main stages of an audit by size of firms and level of staff. It examines auditors' perceptions of the frequency and effectiveness of different types of APs in achieving a selected set of audit objectives. The study also identifies the types of assurance provided by APs and their influence on detailed testing as well as analyzing the role of auditing standards in the context of the use of APs.Design/methodology/approachThe design and research method are empirical using a questionnaire survey to collect information on actual uses of APs from 14 audit firms in Egypt which audit the 100 actively traded companies on the Egyptian Stock Exchange (EGX) as measured by the EGX 100 index. The survey was carr...
The objective of this paper is to examine various determinants of compliance with IASs using a si... more The objective of this paper is to examine various determinants of compliance with IASs using a significantly larger and more random representative sample of 281 Egyptian listed annual reports. The analysis is extensive, including the use of relative total and partial indices. The multivariate analysis of the impact of micro level firm-specific determinants supports the proposition that these firms' compliance is responsive to specific attributes of their environment. However, professionalism as measured by the type of auditor (proxy for agency and signalling theories), internal corporate governance factor as measured by ownership concentration (proxy for agency theory) and structure as measured by market capitalization (proxy for agency theory) dominate with respect to the overall explanatory power for variations in compliance levels with IASs disclosure and measurement/presentation practices (mandatory and voluntary). Although, the findings are consistent with the predictions o...
The objective of this paper is to meta-analyze a set of 1? empirical papers dealing with the dete... more The objective of this paper is to meta-analyze a set of 1? empirical papers dealing with the determinants of the degree of compliance with IASXIPRS standards. We consider firm size (proxy for agency theory), profitability [proxy for signaling theory), leverage (proxy for agency and signaling theories), auditor (proxy signaling theory), internationality (proxy for capital need theory), and ownership diffusion (proxy for agency theory). Our results provide evidence that firm size, auditor type, multi~ nationality, profitability and ownership dispersion have a positive effect on IASXIFRS compliance. Compliance with IAS/IFRS in emerging markets is suongly associated vnth firm size, auditor type, leverage, profitability and ownership dispersion. Given the low disclosure envnonment, weak investors’ protection and capital external need prevailing in these contexts; these factors are likely to enhance corporate reporting policy. -Managers comply seriously with LAS/IFRS in developing countrie...
This study examines the level of corporate governance disclosure in Egypt and explores the attitu... more This study examines the level of corporate governance disclosure in Egypt and explores the attitudes of Egyptian regulators, auditors, accountants, academics and company directors about the strategies needed to enhance CG disclosure. The measurement of disclosure is based on a checklist developed by the United Nations, which was gathered using a content analysis of financial statements and websites of a sample of Egyptian companies listed on Egyptian Stock Exchange (EGX). Levels of CG disclosure are found to be very low, however, disclosure is high for items that are mandatory under the Egyptian Accounting Standards (EASs) that are based on International Financial Reporting Standards (IFRS). The failure of companies to disclose such information clearly shows some ineffectiveness and inadequacy in the regulatory framework in Egypt. Moreover, the phenomenon of non-compliance may also be attributed to the socio-economic factors in Egypt. Therefore, it is expected that Egyptian firms wi...
Recent empirical work in an Egyptian setting by Samaha (2005) and Samaha and Stapleton (2008) pro... more Recent empirical work in an Egyptian setting by Samaha (2005) and Samaha and Stapleton (2008) provided evidence about Egyptian convergence to international accounting standards. These studies reported that compliance is low, at just 50% for IASs disclosure indices and 56% for IASs measurement/presentation indices. From a policy perspective 5 issues are evident from these studies. First, poor compliance suggests weak enforcement consistent with the argument of Saudagaran and Diga (1997) that government intervention in developing countries is essential to ensure reliability of financial reports. Second, compliance is higher where preparers were familiar with the regulations consistent with Cairns (2001) argument that effective implementation of new standards requires education and training of accountants. Third, removing adverse tax implications for companies is likely to increase compliance. Fourth, compliance tends to be very low unless the company is connected with a big 5 audit fi...
This paper examines the direct effect of internal control quality (ICQ) on cost of equity capital... more This paper examines the direct effect of internal control quality (ICQ) on cost of equity capital and whether the former has a moderating effect on the association between voluntary disclosure and cost of equity capital in an emerging market (Egypt). ICQ is measured using a survey of external auditors. A content analysis approach is used to proxy for the level of voluntary disclosure in annual. Finally, the Capital Asset Pricing Model (CAPM) framework is used to estimate cost of equity capital. Based on a sample of 256 firm-year observations over the period of 2007-2010, we find that ICQ is negatively and significantly associated with cost of equity capital indicating that better controls reduce cost of capital. In addition, ICQ moderates the association between voluntary disclosure and cost of equity capital since this association is only negative and significant for companies characterized by high ICQ. Our study contributes to the internal control literature by focusing on an emer...
With 55 years of success in the principles of accounting market, Fundamental Accounting Principle... more With 55 years of success in the principles of accounting market, Fundamental Accounting Principles has endured and adapted to changes in accounting, technology, and student learning styles. Its innovation is reflected in its extensive use of small business examples, the integration of new technology learning tools, superior end-of-chapter material, and a highly engaging, pedagogical design. With this first Middle East Edition, we have made the text more accessible to Middle Eastern students with the inclusion of local examples and adaptation of some topics.
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Papers by Khaled Samaha