Perceived international environmental factors and corporate voluntary disclosure practices: An empirical study |
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| Authors: | Mohamed Omran Elsayed Zahirul Hoque |
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| Institution: | 1. School of Commerce & Marketing, Faculty of Art, Business, Informatics & Education, Central Queensland University, Rockhampton Campus, North Rockhampton Queensland, Australia;2. School of Accounting, Faculty of Law and Management, La Trobe University, Bundoora, Victoria 3086, Australia;1. Credit Suisse (Hong Kong) Limited, Hong Kong, China;2. School of Economics and Management, Tsinghua University, China;3. School of Finance, Central University of Finance and Economics, China;1. The University of Bristol, UK;2. The University of Stirling, UK;3. The University of Plymouth, UK;4. The University of Helwan, Egypt;1. The University of Waikato, New Zealand;2. The University of Pretoria, South Africa;3. Department of Accounting and Finance, The University of Auckland, New Zealand;1. School of Economics, Finance and Management, University of Bristol, 8 Woodland Road, Bristol, BS81TN, UK;2. University of Exeter Business School, University of Exeter, Exeter, EX44PU, UK;1. College of International Finance and Commerce, Shanghai International Studies University, Shanghai 200083, People’s Republic of China;2. School of Accountancy/Institute of Accounting and Finance, Shanghai University of Finance and Economics, Shanghai 200433, People’s Republic of China;3. Leventhal School of Accounting, University of Southern California, Los Angeles, CA 90089-0441, USA |
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| Abstract: | Drawing upon the contingency theory of organisations, we identify a set of perceived international environmental factors and examine how these factors influence a company's voluntary disclosure levels. The perceived international environmental factors identified are (a) intensity of global competition, (b) international socio-political institutions, (c) international accounting standards, and (d) international financial institutions. Based on data collected from 100 Egyptian non-financial listed companies, the results of multiple regression analysis indicate that the level of a company's voluntary disclosure is positively and significantly associated with its perceived influence of (a) international socio-political institutions (such as the United Nations, the European Union, the Association of South East Asian Nations, the World Trade Organization, and the Organization for Economic Co-operation and Development), (b) international accounting standards, and (c) international financial institutions (such as the World Bank and the International Monetary Fund). Contrary to our expectations, our findings reveal no significant association between voluntary disclosure level and perceived intensity of global competition. Our study contributes to the international accounting disclosure field by providing evidence from Egypt that perceived international environmental factors may influence the type and level of accounting disclosures by organisations. These findings are also applicable to other emerging countries. |
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