أثر الإفصاح عن معلومات إعادة تكامل سلسلة القيمة في فترات الأزمات و ما بعدها على سلوك المستثمرين و دقة تنبؤات المحللين الماليين : دراسة تجريبية مقارنة

Abstract EN

The research aimed to investigate the impact of proposed disclosure regarding reintegration of the value chain (independent variable) on the behavior of investors and the accuracy of financial analysts' forecasts (dependent variables) inside the Egyptian environment by focusing on times of crisis and post crisis, and further aimed at knowing impact of the investor's experience level / investor gender / financial analyst experience level / financial analyst gender (as moderating variables) on impact direction between independent and dependent variables, and by conducting an experimental study via questionnaire sent to (investors and analysts), the sample consisted of (398) Individuals including (178) financial analysts, and (220) investors, study findings indicated for investors group that impact of proposed disclosure on the behavior of investors is positively, the difference in the investor's experience level leds to adjustment the relationship for whom are more than 10 y is, and the difference in investor's gender leds to adjustment the relationship in favor of males.

For financial analysts group The results indicated the impact of proposed disclosure on the accuracy of analysts' predictions is positively, and level of experience of the analyst has a role in modifying the relationship between The proposed disclosure and the accuracy of the forecasts, which were in favor of those with more than 10 years of experience, while the relationship was not affected by the difference in the gender of the financial analysts, whether financial analyst is male or female, and hence the researcher recommended the necessity of disclosing about reintegration between the parts of the value chain of companies listed on the Egyptian Stock Exchange because of its great importance in influencing positively on investors and analysts.