The impact of institutional blockholders on voluntary disclosure and transparency : the case of Egypt
Joint Authors
Sulayman, Muhammad Mustafa
al-Diftar, Dua
Jones, Eleri
Source
Economic Research Forum : Working Paper Series
Issue
Vol. 2016, Issue 979-1073 (31 Dec. 2016), pp.1-14, 14 p.
Publisher
Economic Research Forum for the Arab Countries Iran and Turkey
Publication Date
2016-12-31
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Economics & Business Administration
Abstract EN
Disclosure and transparency are crucial elements in the improvement of overall corporate governance.
Disclosure is a very important mean of communication between management and outside investors.
This study investigates how institutional blockholders impact levels of voluntary disclosure released in annual reports of some of the most active companies in the Egyptian Stock Exchange.
The results generated by the study did support a significant positive impact of institutional blockholders on voluntary disclosure and transparency.
It also found that this impact is due to two types of institutional blockholders’ ownership: low institutional ownership defined as those owning from five to twenty percent and controlling institutions defined as those owning more than fifty percent of a company’s shares.
This indicates that concentrated ownership can be viewed as a monitoring mechanism in an emerging market like Egypt.
According to the author’s knowledge, this study is the first to explore the impact of different categories of blockholders; categorized by the size of their block; on levels of voluntary disclosure in Egypt.
American Psychological Association (APA)
al-Diftar, Dua& Jones, Eleri& Sulayman, Muhammad Mustafa. 2016. The impact of institutional blockholders on voluntary disclosure and transparency : the case of Egypt. Economic Research Forum : Working Paper Series،Vol. 2016, no. 979-1073, pp.1-14.
https://search.emarefa.net/detail/BIM-729461
Modern Language Association (MLA)
al-Diftar, Dua…[et al.]. The impact of institutional blockholders on voluntary disclosure and transparency : the case of Egypt. Economic Research Forum : Working Paper Series No. 979-1073 (Dec. 2016), pp.1-14.
https://search.emarefa.net/detail/BIM-729461
American Medical Association (AMA)
al-Diftar, Dua& Jones, Eleri& Sulayman, Muhammad Mustafa. The impact of institutional blockholders on voluntary disclosure and transparency : the case of Egypt. Economic Research Forum : Working Paper Series. 2016. Vol. 2016, no. 979-1073, pp.1-14.
https://search.emarefa.net/detail/BIM-729461
Data Type
Journal Articles
Language
English
Notes
Includes appendices : p. 12-14
Record ID
BIM-729461