Disclosure Attributes Impact of Corporate Governance Auditing Quality and Voluntary Disclosures on the Financial Performance of Banks Listed in the Egyptian Stock Exchange Market

نوع المستند : المقالة الأصلية

المؤلف

Modern Sciences and Arts University, Egypt

المستخلص

Banks in Egypt have unique characteristics that makes its micro economic role vital in the macro economy throughout their financial performance impact on the investors’ decisions in the capital exchange market. The research investigates assesses, and discusses the appropriate disclosure attributes of banks, and disclosure attributes impact of corporate governance, audit quality, along with the voluntary disclosure attributes on the financial performance of the Islamic and non-Islamic banks in the Egyptian exchange market through an empirical research applied on banks listed in the stock exchange market. The corporate governance disclosure attributes presented by the research included Audit committee dimensions: Audit committee size, AC autonomy, AC meetings, Board size, Board independence, Managerial ownership, and other prominent variables. The audit quality disclosure attributes addressed by the research divided into two subcategories, Auditing firms determinates and Audit process determinates. The attributes used to measure the level of voluntary disclosure includes, Internet reporting, brief history of the bank, directors skills and experiences, environment protection programs and other variables. The financial performance of banks are measured through the price earnings ratio, return on total assets, total asset growth, net profit growth and EPS ratio calculated based on the annals of the annual reports of the selected banks. The research uses the secondary data from the annual reports of the banks, and the disclosure books brought from the websites of the banks or purchased through Egypt for Information Dissemination Company. The research will cover a period starting from 2004 until 2014 (according to the availability of the data and the date of registration of the banks in the stock market) along 12 banks listed in the Egyptian stock market. The sample of the 12 banks included 3 Islamic banks and 9 non-Islamic banks The research results supported the hypothesis of the research that the corporate governance, audit quality and voluntary disclosure have an impact on the financial performance of the Islamic and the non-lslamic banks with different level of significance. The empirical study of this research has been conducted using the SPSS package along with other statistical techniques to verify the hypotheses. The results of the research may have some important implications for enhancing the disclosure attributes of the Islamic banks and non-lslamic banks, which will lead to better financial performance for both categories of banks.

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