العلاقة بين المتغيرات المالية و البيئية و مستوى الإفصاح وفقا لمتطلبات الإفصاح الصادرة عن هيئة الأوراق المالية الأردنية

Abstract EN

This study investigates the compliance degree of Jordanian shareholding companies, listed in Amman Stock Exchange (ASE), with the disclosure requirements issued by the Jordanian Securities Commission (JSC) in 2004.

Also, it aims to identify the extent of the improvement in the level of disclosure in the annual financial reports before and after the issuance of disclosure requirements.

The study covers the period from 2002 to 2006.

Furthermore, the study tests the relationship between financial indicators (Total Assets, Debt Ratio, Liquidity Ratio, and Profitability Ratio) and the Actual Disclosure Level (ADL).

In addition, it tests the relationship between the characteristics associated with the environmental variables of the corporation (Activity Type, Market Type, and Size of Audit Firms) and the ADL.

A disclosure index is used to measure the ADL, which is prepared based on the disclosure requirements that are issued by the JSC.

The index consists of (65) items.

The study's sample consists of (73) Jordanian shareholding.

The researchers used the Chi-Square test to study the commitment with disclosure requirements.

Also, Wilcoxon test used to determine the extent of improvement in the level of disclosure during the period of study, and the multiple regression is used to determine the relationship between the financial indicators and characteristics associated with the environmental variables and the ADL.

The most important result of the study shows that the average of ADL in the Jordanian shareholding companies is (85.7%), and this result indicates that Jordanian shareholding companies are commited to the disclosure requirements issued by the JSC.

Moreover, the new disclsoure requirements issued in 2004 by JSC has improved the level of ADL.

The results also show a significant correlataion between financial indicators and the ADL and a significant correlataion between the characteristics associated with the environmental variables of the corporations and ADL.