Title: Financial reporting on the internet in the Middle East: the case of Jordanian industrial companies

Authors: Talal Al-Hayale

Addresses: University of Windsor, Ontario, Canada

Abstract: In recent years, online disclosure of financial information has become a common practice in developed countries. Developing countries, however, face several obstacles that hinder such dissemination of financial information. These obstacles relate to technology, culture, cost and other factors. This study examines the extent of financial information dissemination on the internet by Jordanian industrial companies listed in the Amman Stock Exchange (ASE). The study also examines the advantages and obstacles of online disclosure from the point of view of investors and financial managers in the industrial sector in Jordan. The findings of this study indicate that 55% of industrial companies have websites and only 30% have utilised these websites to disseminate financial information. The study concludes that the cost of establishing and maintaining websites, in addition to the lack of regulations, has contributed to the infrequent use of online reporting by Jordanian companies.

Keywords: financial disclosure; internet; world wide web; Middle East; Jordan; financial reporting; industrial companies; developing countries; information dissemination; Amman Stock Exchange; listed companies; online disclosure; investors; financial managers; corporate websites; regulation; accounting; finance.

DOI: 10.1504/IJAF.2010.032087

International Journal of Accounting and Finance, 2010 Vol.2 No.2, pp.171 - 191

Published online: 09 Mar 2010 *

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