Is corporate fundamental analysis transparent to shareholders in transitional markets? Perspectives from Egypt
Source: International Journal of Liability and Scientific Enquiry, Volume 1, Numbers 1-2, 17 July 2007 , pp. 50-65(16)
Publisher: Inderscience Publishers
Abstract:This study examines the extent to which the disclosed fundamental financial information is transparent to shareholders in Egypt's stock market. The methodology employs the partial adjustment model to compare between three cases: disclosed, undisclosed and integrated fundamental financial information. The speed of adjusting market‐to‐book ratio can fairly be used to examine the issue of transparency. The results show that the disclosed financial information is relatively more transparent to the shareholders than the other two cases (undisclosed and integrated). Therefore, the disclosed financial information can fairly be used in the course of fundamental analysis in the Egyptian stock market.
Keywords: ENVIRONMENTAL JOURNALS; Environment and Sustainable Development; HEALTHCARE AND LEISURE JOURNALS; Healthcare and Medical Engineering; Law; MANAGEMENT JOURNALS; PUBLIC POLICY AND ADMINISTRATION JOURNALS; Public Policy and Public Services; RISK, SAFETY AND EMERGENCY JOURNALS; Risk and Emergency Management; Safety
Document Type: Research Article
Affiliations: 1: Department of Finance, College of Business and Economics, United Arab Emirates University P.O. Box 17555 AL Ain, UAE. 2: College of Commerce & Economics, Sultan Qaboos University, P.O. Box 20, AlKhod 123, Muscat, Oman. 3: College of Business and Economics, United Arab Emirates University, P.O. Box 17555 AL Ain, UAE
Publication date: 2007-07-17
- International Journal of Liability and Scientific Enquiry proposes and fosters discussion on the application of scientific knowledge to litigation, adjudication, legislation and public policy, with emphasis on the implications that informed interpretation of science exert on policy choices. International Journal of Liability and Scientific Enquiry serves as a vehicle for exploring systematic approaches to scientific evidence in specific disputes.
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