The Impact of Board Governance Disclosure on The Firm Value: Evidence from Egypt

  • Ahmed Hussein

Abstract

The objective of this study is to investigate empirically the impact of board governance disclosure (BGD) on the firm value (FV) in the light of Board of director (BOD) report and Egyptian corporate governance (CG) code. A fixed effects regression was employed to examine the influence of CG disclosure on FV. We used panel data for 65 non–financial companies listed on the Egyptian Stock Exchange within the EGX 100 index during the period (2015-2020). For the FV, we utilize accounting and economic indicators for FV. Tobin’s Q and MTV were employed as economic metrics, whereas ROA, ROE and Stock returns were used as accounting measures. Empirical results show a significant association between BGD and FV. Our findings reveal that MA has a positive linkage with FV. Furthermore, equity-based compensation is negatively correlated with FV. This study contributes to accounting literature by introducing new mechanisms to assess the monitoring role of BOD, reflecting significant new indicators in the interpretation of BGD relationship on the FV in Egypt. We provide useful information that is of great value to policy makers, academics and other stakeholder.

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Published
2021-11-01
How to Cite
HUSSEIN, Ahmed. The Impact of Board Governance Disclosure on The Firm Value: Evidence from Egypt. Asian Journal of Accounting and Finance, [S.l.], v. 3, n. 3, p. 31-44, nov. 2021. ISSN 2710-5857. Available at: <https://myjms.mohe.gov.my/index.php/ajafin/article/view/16056>. Date accessed: 07 july 2022.
Section
Articles