چکیده:
This study empirically investigates the relationship between the timeliness of the financial reporting and the corporate governance proxies for companies listed on the Tunisian stock exchange during 2009. It investigates the role of the corporate governance mechanisms on the timeliness of corporate financial reporting besides; it investigates the relationship between the company size, leverage, profitability (good news), and the timeliness of corporate financial reporting.Using a multivariate analysis, we find evidence that ownership concentration, the CEO’s duality function , and good news have some impact on the interim period between the auditors’ signature dates and the publicationdates, hence, on the timeliness of the release of financial statement information to the public
خلاصه ماشینی:
Anis 1,2 Department of Finance and Accounting, University of Sfax, Sfax, Tunisia This study empirically investigates the relationship between the timeliness of the financial reporting and the corporate governance proxies for companies listed on the Tunisian stock exchange during 2009.
Using a multivariate analysis, we find evidence that ownership concentration, the CEO’s duality function , and good news have some impact on the interim period between the auditors’ signature dates and the publicationdates, hence, on the timeliness of the release of financial statement information to the public ABSTRACT: .
This study includes the ownership structure and the board of directors’ attributes, since an effective monitoring by the board strengthens the internal control and reduces the financial reporting business risk hence, it can shorten the annual reporting delay.
The objective of this section is not to provide an extensive review of these studies, but rather to develop the hypotheses to be tested by the present study, relating to corporate governance mechanisms (ownership structure, board composition), leverage, good news (profitability) and size of the firm.
Previous empirical studies have found an inverse relationship between timeliness and the size of the company (Dyer and McHugh, 1975; Davis and Whittred, 1980; Givoly and Palmon, 1982; Owusu-Ansah, 2000).
Consequently, and based on the theorization posted earlier and the results of the majority of the empirical studies, the following hypothesis is developed in the alternative: H7: The financial reporting delay is positively associated with the company’s size.
Good News Prior research has found that firms that experience losses for the period would result in longer financial reporting lag (Givoly and Palmon, 1982; Ashton et al.