The Association between Impression Management and Financial Performance in the Boards of Directors’ Annual Reports for Egyptian listed companies: The Moderating Effect of the CEO’s Power | ||||
| الفکر المحاسبى | ||||
| Article 7, Volume 23, Issue 3, October 2019, Page 301-349 PDF (500.32 K) | ||||
| Document Type: المقالة الأصلية | ||||
| DOI: 10.21608/atasu.2019.49542 | ||||
 View on SCiNiTO | ||||
| Author | ||||
| Amr Nazieh Ezat | ||||
| Faculty of Commerce, Mansoura University | ||||
| Abstract | ||||
| This study extends the previous study about the disclosure narrative field through examining the bidirectional association between Disclosure Tone (DP) and Financial Performance (FP) in respect of the Egyptian EGX 100 listed companies during the period from 2013 to 2017. Further, this study seeks to explore the expected effect of the CEO’s power on the association between DT and FP in the Egyptian context. This study ran twelve Ordinary Least Square (OLS) models to test the research hypotheses. Further, it calculated the number of the statements, related to the disclosure tone in the board of directors’ annual reports, through manual analysis of their content. In addition, this study used Tobin’s Q method to measure FP. CEO power was captured by using an aggregated index which included six CEO power variables in the Egyptian environment. The findings reveal that there is a bidirectional relationship between DT and FP. Moreover, CEO power has a significant effect on the association between DT and FP. Due to few studies having examined the bidirectional between DT and FP in the developing countries, this study contributes to the accounting field by examining such a construct in the Egyptian context. | ||||
| Keywords | ||||
| Disclosure Tone (DT); Egypt; Financial Performance (FP); CEO power; Narrative Disclosure | ||||
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