COVID-19 disclosure: a novel measurement and annual report uncertainty

Mahmoud Elmarzouky; Khaldoon Albitar; ATM Enayet Karim; Ahmed Saber Moussa

doi:10.3390/jrfm14120616

COVID-19 disclosure: a novel measurement and annual report uncertainty

Mahmoud Elmarzouky^*, Khaldoon Albitar, ATM Enayet Karim, Ahmed Saber Moussa

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

Abstract

This paper provides a unique COVID-19 disclosure measurement and investigates the association between the level of COVID-19 disclosure and uncertainty within annual reports for UK FTSE-All share non-financial firms. We used automated textual analysis to score the sampled annual reports. The results show that the level of COVID-19 disclosure varies from industry to industry. Furthermore, there is a positive relationship between COVID-19 disclosure and uncertainty in annual reports. Firms with larger boards exhibit more significant uncertainty in annual reports with COVID-19 disclosure. However, the significance of uncertainty in annual reports with COVID-19 disclosure remains at the same level with different board independence percentages. The unique findings of this paper are extremely relevant to governments, shareholders, policymakers, suppliers, and creditors.

Original language	English
Article number	616
Number of pages	12
Journal	Journal of Risk and Financial Management
Volume	14
Issue number	12
DOIs	https://doi.org/10.3390/jrfm14120616
Publication status	Published - 19 Dec 2021

Bibliographical note

© 2021 by the authors. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/ 4.0/).

Keywords

COVID-19 disclosure
Annual report uncertainty
Board size
Independent directors
Textual analysis

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10.3390/jrfm14120616Licence: CC BY 4.0

jrfm-14-00616-v2
© 2021 by the authors. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/ 4.0/).
Final published version, 272 KBLicence: CC BY 4.0

Cite this

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abstract = "This paper provides a unique COVID-19 disclosure measurement and investigates the association between the level of COVID-19 disclosure and uncertainty within annual reports for UK FTSE-All share non-financial firms. We used automated textual analysis to score the sampled annual reports. The results show that the level of COVID-19 disclosure varies from industry to industry. Furthermore, there is a positive relationship between COVID-19 disclosure and uncertainty in annual reports. Firms with larger boards exhibit more significant uncertainty in annual reports with COVID-19 disclosure. However, the significance of uncertainty in annual reports with COVID-19 disclosure remains at the same level with different board independence percentages. The unique findings of this paper are extremely relevant to governments, shareholders, policymakers, suppliers, and creditors.",

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AU - Karim, ATM Enayet

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KW - Board size

KW - Independent directors

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COVID-19 disclosure: a novel measurement and annual report uncertainty

Abstract

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Keywords

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