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AuthorAbousamak, Ahmed
AuthorKamel, Hany
Available date2023-10-12T06:42:45Z
Publication Date2015-01-01
Publication NameAfro-Asian Journal of Finance and Accounting
Identifierhttp://dx.doi.org/10.1504/AAJFA.2015.070294
ISSN17516447
URIhttps://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84936769027&origin=inward
URIhttp://hdl.handle.net/10576/48456
AbstractThis paper aims to examine the persistence of the historically assumed accounting values of the Egyptian environment in terms of conservatism, secrecy and statutory control after the adoption of the latest versions of the Egyptian Accounting Standards (EASs). Using information provided in the annual reports of 87 Egyptian listed companies in the year 2009, the results indicate that Egyptian accountants do not require a higher degree of verification to recognise good news than bad news in financial statements. Therefore, it can be argued that Egyptian accounting practices have departed from the accounting value of conservatism and moved towards its opposite value, optimism. In addition, the results demonstrate that there has been a noticeable improvement in the level of transparency in the Egyptian accounting environment and this level is much better than that reported in many other emerging economies. Unexpectedly, however, the documented level of transparency was found to have a negative impact on the shareholders' wealth. Finally, our results illustrate that there has been a statistically significant improvement in the level of professionalism in recent years and this level is significantly positively associated with the companies' share returns performance.
Languageen
PublisherInderscience
SubjectConservatism
Egypt
Egyptian financial reporting
Professionalism
Transparency
TitleIs there a shift in the accounting values in Egypt towards optimism, transparency and professionalism?
TypeArticle
Pagination265-294
Issue Number3
Volume Number5
ESSN1751-6455
dc.accessType Abstract Only


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