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

38 Citations (SciVal)

10 Downloads (Pure)

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

Access to Document

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

@article{68bd815761474723bd7cd89a6a37da7c,

title = "COVID-19 disclosure: a novel measurement and annual report uncertainty",

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.",

keywords = "COVID-19 disclosure, Annual report uncertainty, Board size, Independent directors, Textual analysis",

author = "Mahmoud Elmarzouky and Khaldoon Albitar and Karim, {ATM Enayet} and {Saber Moussa}, Ahmed",

note = "{\textcopyright} 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/).",

year = "2021",

month = dec,

day = "19",

doi = "10.3390/jrfm14120616",

language = "English",

volume = "14",

journal = "Journal of Risk and Financial Management",

number = "12",

}

TY - JOUR

T1 - COVID-19 disclosure: a novel measurement and annual report uncertainty

AU - Elmarzouky, Mahmoud

AU - Albitar, Khaldoon

AU - Karim, ATM Enayet

AU - Saber Moussa, Ahmed

N1 - © 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/).

PY - 2021/12/19

Y1 - 2021/12/19

N2 - 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.

AB - 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.

KW - COVID-19 disclosure

KW - Annual report uncertainty

KW - Board size

KW - Independent directors

KW - Textual analysis

UR - https://www.mdpi.com/1911-8074/14/12/616

U2 - 10.3390/jrfm14120616

DO - 10.3390/jrfm14120616

M3 - Article

VL - 14

JO - Journal of Risk and Financial Management

JF - Journal of Risk and Financial Management

IS - 12

M1 - 616

ER -

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

Abstract

Bibliographical note

Keywords

Access to Document

Other files and links

Fingerprint

Cite this