IDEAS home Printed from https://ideas.repec.org/a/eme/medarp/v22y2014i2p149-164.html
   My bibliography  Save this article

Voluntary and timely disclosure and the cost of debt: South African evidence

Author

Listed:
  • Achraf Guidara
  • Hichem Khlif
  • Anis Jarboui

Abstract

Purpose - – The aim of this study is to investigate the effect of voluntary and timely disclosure on the cost of debt for the South African setting. Design/methodology/approach - – The sample of this paper consists of 20 South African listed non-financial companies for the period 2008-2011. A content analysis is used to measure the extent of voluntary disclosure. Timely disclosure is proxied by earnings reporting lag. Findings - – Results show that the extent of voluntary disclosure is negatively and significantly associated with the cost of debt. In contrast, timely disclosure exerts a trivial effect on the cost of debt. When testing for the moderating effect of timely disclosure on the association between the extent of voluntary disclosure and the cost of debt, this paper documents that this association is only negative and significant for the shorter earnings announcement lag group. Originality/value - – The findings of this paper have policy implications for managers in the South African setting and other developing economies similar to South Africa, given the crucial role played by debt as an important source of external financing for publicly traded companies.

Suggested Citation

  • Achraf Guidara & Hichem Khlif & Anis Jarboui, 2014. "Voluntary and timely disclosure and the cost of debt: South African evidence," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 22(2), pages 149-164, November.
    • Handle: RePEc:eme:medarp:v:22:y:2014:i:2:p:149-164
    DOI: 10.1108/MEDAR-09-2013-0042
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2013-0042/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/MEDAR-09-2013-0042/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/MEDAR-09-2013-0042?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Vitiana L'Abate & Nicola Raimo & Benedetta Esposito & Filippo Vitolla, 2024. "Examining the impact of circular economy disclosure on the cost of debt: A signaling theory approach via social media," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 4007-4019, September.
    2. Zhiyang Hui & Haoyu Li & Ahmed A. Elamer, 2024. "Financing sustainability: How environmental disclosures shape bank lending decisions in emerging markets," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3940-3967, September.
    3. Presley K. Wesseh & Boqiang Lin & Yixuan Zhang & Preslyn Sharon Wesseh, 2024. "Sustainable entrepreneurship: When does environmental compliance improve corporate performance?," Business Strategy and the Environment, Wiley Blackwell, vol. 33(4), pages 3203-3221, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:medarp:v:22:y:2014:i:2:p:149-164. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.