The information gap in corporate annual reports: evidence from Egypt

Omaima A. G. Hassan, Gianluigi Giorgioni, Peter Romilly, David M. Power

    Research output: Contribution to journalArticlepeer-review


    This study explores whether an information gap exists for six types
    of corporate disclosure in Egypt, where International Accounting Standards
    (IAS) apply but penalties for non-compliance are limited. It also investigates
    whether low compliance with mandatory disclosure can be explained by low
    levels of demand for this type of information among local financial analysts.
    The results identify a significant gap between actual disclosure practices of
    companies for various types of disclosure and market perceptions of this
    practice. Our findings also suggest that low compliance with disclosure
    requirements in Egypt is not driven by low levels of demand from local
    financial analysts, because these items of information are perceived as useful
    for investment decision making.
    Original languageEnglish
    Pages (from-to)338-358
    Number of pages21
    JournalAfrican Journal of Accounting, Auditing and Finance
    Issue number4
    Publication statusPublished - 2012


    • information gap; disclosure; financial reporting; emerging market; Egypt


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