محددات الإفصاح عن تقارير الأعمال المتكاملة وأثره على تكلفة رأس المال: دراسة تطبيقية على الشركات المقيدة بالبورصة المصرية

الملخص EN

Research objective: studying and analyzing the relationship between the disclosure determinants of integrated business reports and the cost of capital by applying it to companies listed on the Egyptian stock exchange (EGX30).

research methodology: the study is based on the content analysis approach in examining the annual reports of the companies registered in the Egyptian index (EGX30) during the period of (2017-2018).to test the research hypotheses that reflect the impact of disclosure determinants on integrated business reports, as well as the impact of integrated business reports disclosure on the cost of capital, the multiple regression method was used in analyzing the results.

results and recommendations: there is an improvement in the level of integrated business reports disclosure in the companies sample during the period of the study, as the highest average for integrated business reports disclosure reacged 68%, this percentage is low comparing to the disclosure rates in studies conducted in other developed countries, the reason for that is due to the fact that integrated business reports disclosure is still optional in Egyptian environment., there is a positive and significant correlation relationship between the level of integrated business reports disclosure and each of (the size of the company, profitability, industry type, board independence, board size, and quality of the audit committee),, while there is a negative and significant correlation between the level of disclosure of integrated business reports and both (the degree of financial leverage and the cost of capital), while the positions of the chairman and CEO are not affected by the dual position, and based on that, the researcher recommends the necessity of issuing an Egyptian accounting standard that regulates accounting for integrated business reports, and obligate companies to prepare integrated business reports; because they are a supporter of financial reports and can be reflected on restoring confidence in the published financial statements and reports, and to help all stakeholders to assess the company's ability to create and maintain value over time and make rational decisions.

originality and addition: the current research provides a contribution and addition to the current researches in this field by showing the impact of integrated business reports disclosure on the cost of capital, and trying to suggest an index for the disclosure of integrated business reports which can be consists of (51) items that combine financial and non-financial information in one integrated report, and this indicator can be used as guidance in setting a comprehensive accounting standard for the disclosure of integrated business reports in the Egyptian environment.