Benha University

جيهان عبد الهادى موسى محمد

نائب رئيس الجامعة

كلية التجارة محاسبة

The relationship between corporate forward-looking disclosure and stock return volatility

Problems and Perspectives in Management • 2018
العودة
معلومات البحث
المؤلفون Gehan A. Mousa and Elsayed A.H. Elamir
الكلمات المفتاحية forward-looking disclosure, stock return volatility, quality of disclosure, quantity of disclosure
المجلة العلمية Problems and Perspectives in Management
الناشر Not Available
المجلد Vol. 16
العدد No.3
الصفحات 130-149.
publication.type International
رابط البحث Not Available
المواد المرفقة Not Available
الملخص
The study assesses corporate forward-looking disclosure by measuring four attributes, namely disclosure quantity, disclosure coverage, disclosure concentration and disclosure quality, through a sample of 34 listed firms in the Bahrain Bourse from 2014 to 2017. The study also investigates the relationship between these attributes and stock return volatility. Regression analysis has been employed with five different models to examine the relationship between the four attributes of corporate forward-looking disclosure and stock return volatility. The main finding of this study agrees with the results of Bravo et al. (2009) who found that the selection of a specific disclosure index could influence crucially the results of the analysis. In addition, stock return volatility has a statistically significant negative association with the three attributes of forward-looking disclosure, namely disclosure quantity, disclosure coverage and disclosure quality. In contrast, it has a non-significant association with the fourth attribute of forward-looking disclosure, disclosure concentration. This study provides a novel contribution to disclosure quality studies by being the first study to examine forward-looking disclosure quality attributes in the Kingdom of Bahrain.
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