The Impact of Investors' Excessive Biased Expectations on Opaque Financial Reporting | ||||
| المجلة العلمية للدراسات التجارية والبيئية | ||||
| Article 29, Volume 9, العدد الثانی - Serial Number 31, April 2018, Page 721-742 PDF (432.03 K) | ||||
| Document Type: المقالة الأصلية | ||||
| DOI: 10.21608/jces.2018.50968 | ||||
 View on SCiNiTO | ||||
| Author | ||||
| Sally Mahmoud Hashem Sham . | ||||
| Abstract | ||||
| This research investigates the influence of investors' biased expectations on the opacity of financial reporting. Excessive biased expectations reflect optimism or pessimism of investors toward certain security or a particular financial market. Sample size consists of 83 companies listed in the Egyptian stock exchange. Three measures can be used to measure investors' biased expectations: Share Turnover, E Share, and dividend premium. Three measures can be used to measure financial reporting opacity: earnings management, quality of auditors and the type of audit opinion. Results imply that, companies with greater opaque financial reporting environment are more affected by excessive biased expectations of investors. | ||||
| Keywords | ||||
| Investors' Excessive Biased Expectations Financial Reporting | ||||
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