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- Title
اثر مستوى االفصاح احملاسبي يف سيولة االوراق املالية.
- Authors
االستاذالدكتور &; فيصل عبد الكاظم ع
- Abstract
The main objective of this study is to find out whether the increase in accounting disclosure level has an impact on securities liquidity level. This study therefore aims to identify this impact in an environment such as the Iraqi environment, which has undergone changes in the accounting systems used by companies listed on the Iraqi Stock Exchange in general and the banking sector in particular, since the Iraqi banking sector relies on a number of accounting systems, such as the Banking Sector Accounting System and the International Financial Reporting Standards (IFRS). This study was conducted on a sample of the Iraqi banking sector, which included 17 banks. The sample study covered the period from 2010 to 2019. In order to detect this impact, the researcher designed his study on the basis of an experimental model. Increasing in accounting disclosure level as an independent variable, which was measured by giving a number (0) for the period prior to IFRS adoption, i.e. from 2010 to 2014, and a number (1) for the period posterior to IFRS adoption, i.e. from 2015 to 2019. The impact on users' decisions of accounting information disclosed in financial reports was presented, and thus reflected in securities liquidity level on stock exchanges, and the securities liquidity variable was measured by two indicators (zero return and trading volume). In order to control the relationship between the study variables, the researcher added control variables, including: company size, leverage, company age, growth rate, book value-to-market value ratio. The study found an inconclusive conclusion that there was a negative impact between accounting disclosure and trading volume as a measure of securities liquidity, and a positive impact between accounting disclosure and zero return as a measure of securities liquidity.
- Subjects
SECURITIES trading volume; DISCLOSURE in accounting; BANKING industry; BOOK value; LIQUIDITY (Economics); INTERNATIONAL Financial Reporting Standards; FINANCIAL statements
- Publication
Economic Sciences, 2023, Vol 18, Issue 69, p214
- ISSN
1814-9669
- Publication type
Article