الأحد، 24 أبريل 2011

Corporate Governance Drivers of Voluntary Intellectual Capital Disclosure


Tariq Hassaneen Ismail
Cairo University, Egypt - Faculty of Commerce


September 8, 2010

Abstract:     
This study covers an unexplored area of the literature; that is the association between corporate governance and voluntary intellectual capital disclosure. The aim is to investigate the key governance drivers and level of voluntary intellectual capital (IC) disclosures in annual reports and web sites of the listed companies in Egyptian Stock Exchange.

The study uses an IC disclosure index score in the EGX 30 companies to examine the disclosure level among companies. Additionally, Descriptive statistics, correlation and multiple-regression analysis were carried out to test governance mechanisms as the proportion of independent directors, ownership structure and audit committee in relationship to voluntary disclosure on intellectual capital.

The results suggest that board independence, number of shares holders, and management ownership has no impact on IC disclosure, where as block holders’ ownership, government ownership and audit committee are the explanatory variables that could have significant impact on voluntary intellectual capital disclosure by Egyptian companies.
Keywords: intellectual capital, voluntary disclosure, corporate reporting, corporate governance, Egyptian listed companies

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