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The Determinants of Corporate Voluntary Disclosure: Evidence from the Tunisian Capital Market

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  • Mohamed Chakib Kolsi

Abstract

The recent financial corporate scandals highlighted the role of accounting disclosure in misleading investors. While factors affecting voluntary disclosure policy in developed countries are well documented, little evidence is provided about those affecting such disclosure in emerging economies. The aim of this paper is to examine some determinants of voluntary disclosure policy adopted by a sample of Tunisian listed firms. By computing a disclosure index and running a multivariate regression analysis, our results show that firm leverage, audit quality, financial sector and profitability ratio are significant determinants of voluntary disclosure policy adopted by Tunisian firms. These results can be explained by the crucial role played by banks in financing the Tunisian economy. Contrary to our predictions, both ownership structure and firm size seem to have no effect on disclosure policy, since Tunisian firms are characterized by concentrated ownership structure with a family character and homogenous size on an average.

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  • Mohamed Chakib Kolsi, 2012. "The Determinants of Corporate Voluntary Disclosure: Evidence from the Tunisian Capital Market," The IUP Journal of Accounting Research and Audit Practices, IUP Publications, vol. 0(4), pages 49-68, October.
    • Handle: RePEc:icf:icfjar:v:11:y:2012:i:4:p:49-68
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    Cited by:

    1. Jibril Ramalan & Aminu Kado Kurfi & Aminu Muhammad Bello & Adam Muhammad Saifullahi, 2021. "Firm-Specific Characteristics and Voluntary Disclosure of Listed Manufacturing Firms in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(7), pages 101-108, July.
    2. Sarra Elleuch Hamza & Nassira Kortas, 2019. "The interaction between accounting and real earnings management using simultaneous equation model with panel data," Review of Quantitative Finance and Accounting, Springer, vol. 53(4), pages 1195-1227, November.
    3. Fawzi Al Sawalqa, 2014. "Corporate Governance Mechanisms and Voluntary Disclosure Compliance. The Case of Banks in Jordan," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 369-384, April.
    4. Jibril Ramalan & Aminu Kado Kurfi & Aminu Muhammad Bello & Adam Muhammad Saifullahi, 2021. "Firm-Specific Characteristics and Voluntary Disclosure of Listed Manufacturing Firms in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(07), pages 101-108, July.
    5. Segun idowu Adeniyi & Helen Oluwatoyin Adebayo, 2018. "Effect of Financial Leverage on Voluntary Corporate Social Disclosure among Listed Firms on Nigerian Stock Exchange: A Study of Selected Manufacturing Firms," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 4(3), pages 18-24, September.

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