Evaluating the impact of institutional logic on the corporate Internet reporting by Egyptian listed companies

This study explores the institutional logic(s) governing the Corporate Internet Reporting (CIR) by Egyptian listed companies. In doing so, a mixed methods approach was followed. The qualitative part seeks to understand the perceptions, believes, values, norms, that are commonly shared by Egyptian companies which engaged in these practices. Consequently, seven cases of large listed Egyptian companies operating in different industries have been examined. Other stakeholders and stockholders have been interviewed in conjunction with these cases. The quantitative part consists of two studies. The first one is descriptive aiming to specify whether the induced logic(s) from the seven cases are commonly embraced by other Egyptian companies. The second study is explanatory aiming to investigate the impact of several institutional and economic factors on the extent of CIR, types of the online information, quality of the websites as well as the Internet facilities. Drawing on prior CIR literature, four potential types of logics could be inferred: efficiency, legitimacy, technical and marketing based logics. In Egypt, legitimacy logic was initially embraced in the earlier years after the Internet inception. latter, companies confronted radical challenges in their internal and external environments which impelled them to raise their websites potentialities to defend their competitive position; either domestically or internationally. Thus, two new logics emphasizing marketing and technical perspectives have emerged, in response. Strikingly, efficiency based logic is not the most prevalent logic driving CIR practices in Egypt as in the developed countries. The empirical results support this observation and show that almost half of Egyptian listed companies 115 as on December 2010 possessed an active website, half of them 62 disclosed part of their financial and accounting information, during December 2010 to February 2011. Less than half of the websites 52 offered latest annual financial statements. Fewer 33(29%) websites provided shareholders and stock information or included a separate section for corporate governance 25 (22%) compared to 50 (44%) possessing a section for news or press releases. Additionally, the variations in CIR practices, as well as timeliness and credibility were also evident even at industrial level. After controlling for firm size, profitability, leverage, liquidity, competition and growth, it was realized that industrial companies and those facing little competition tend to disclose less. In contrast, management size, foreign investors, foreign listing, dispersion of shareholders and firm size provided significant and positive impact individually or collectively. In contrast, neither audit firm, nor most of performance indicators (i.e. profitability, leverage, and liquidity) did exert an influence on the CIR practices. Thus, it is suggested that CIR practices are loosely institutionalised in Egypt, which necessitates issuing several regulative and processional rules to raise the quality attributes of Egyptian websites, especially, timeliness and credibility. Beside, this study highlights the potency of assessing the impact of institutional logic on CIR practices and suggests paying equal attention to the institutional and economic factors when comparing the CIR practices over time or across different institutional environments in the future.

Corporate environmental and climate change disclosures:empirical evidence from Bangladesh

Purpose-In this article, we examine the nature and the extent of corporate environmental and climate change disclosures in Bangladesh. Design/methodology/ approach-For this purpose, we have undertaken a content analysis of annual reports related to the year 2008 and websites of the 100 largest companies (according to market capitalization) listed on the Dhaka Stock Exchange. We have used 24 content analysis categories to capture the relevant disclosures related to climate change and other environmental issues. Findings-Key findings of our analysis suggest that the level of environmental and climate change disclosures is very low in Bangladesh. Although 91% of companies made disclosures in at least one category, most companies disclosed information only on the ''energy usage'' category, which is a mandatory requirement. Even fewer companies made disclosures in the specific areas of climate change. No disclosure was made in the significant categories such as GHG emissions. The second most popular category related to climate change was adaptation measures. Among the other environmental disclosures, a significant finding is that only 5% of (website 6%) companies disclosed that they had an effluent treatment plant. Closer examination of the nature of disclosures suggests that most of the disclosures are positive and descriptive in nature. Originality/value-As far as we are aware, this is the first study of its kind in Bangladesh which systematically examines corporate climate change disclosures as a particular focus of research. Copyright © 2010 by Emerald Group Publishing Limited.