أثر الإفصاح المحاسبي عبر الإنترنت و وسائل التواصل الاجتماعي علي تكلفة رأس المال في ظل عدم التماثل في المعلومات : بالتطبيق على الشركات المقيدة بالبورصة المصرية

Abstract EN

The research aims to study the effect of Web-based disclosure and social media on the cost of capital through the mediating role of information asymmetry, and by applying it to a sample of listed companies in the Egyptian Stock Exchange during the period (2020, 2021).

The results of the study concluded that there is a negative and significant impact of the level of Web-based disclosure on the cost of capital through the mediating role of information asymmetry, and there is a negative and significant relationship between disclosure through social media and the cost of capital through the mediating role of the level of information asymmetry.

The study has important implications, including those websites and social media have become important channels for the accounting disclosure and they are a part of companies' disclosure strategy.

Through expanding the scope of disclosure, it has resulted in improving the information environment and reducing information asymmetry, which in turn affects the reduction of uncertainty and the reduction of information risks.

Hence, increasing investor confidence, improving transparency, improving the company's image and reputation, and thus reducing the cost of capital and increasing the efficiency of the capital market.