" " "Field study on the Jordanian commercial Banks

Transcription

1 " " The Impact of Accounting Disclosure Level in Published Financial Statements on the Repercussions of the Financial Crisis in the Jordanian Banking Sector "Field study on the Jordanian commercial Banks : : 2010/2009

2 " "....:...:...: ب

3 " : :." / / :... :......( ) : : ج

4 - -. د

5 ه

6 : : و

7 ( ) : : ز

8 : ح

9 ط

10 ي

11 " " (39) (32) (30). (150) (One Sample T- (T). Test) ك

12 :. :. ل

13 The Impact of Accounting Disclosure Level in Published Financial Statements on the Repercussions of the Financial Crisis in the Jordanian Banking Sector "Field study on the Jordanian commercial Banks By Motaz Burhan Al-Aker Supervisor Dr. Thaher Shaher Al-Qashi Abstract This study aimed to show how far the Jordanian banks are committed to the disclosure principles as stated in International Financial Reporting Standards No. (30), (32) and (39), and determine the contribution of that commitment to the financial stability in the banking sector in Jordan, and whether the level of disclosure reduces the impact of financial crisis upon the banking sector. To achieve the study goals, a specialized questionnaire was put together and distributed to a sample of (150) financial department employees among five Jordanian banks. To analyze data and test hypotheses a descriptive statistics method was used, averages and standard deviations of responses from members of the study sample were calculated, also (One Sample T-Test) was used for testing hypotheses of the study. The study results showed that Jordanian banks are committed with the disclosure principles as stated in International Financial Reporting Standards, م

14 which in term contributes to financial stability in the banking sector minimize the impact of financial crises upon the banking sector. This study concluded by many recommendations, mainly: The need for supporting the banking sector and providing it with well qualified employees, studying the global financial crises, and developing a strategic plan via stability specialized departments for crises management, and the government should allocate incentives to those banks that demonstrate ability to avoid financial crises. ن

15

16 2 : 1-1. (IFRSs) International Financial Reporting Standards (Dahawy, 2007).(IASs) International Accounting Standards 2

17 3 ( ).. : 2-1 ( ) : -1 (39) (32) (30)

18 4 : 3-1 : :.(39) (32) (30) :. :. : 4-1 :

19 5 : : 6-1 :.1. " ( ) ( )." ".( )." 5

20 6 " )." ( : :.2 Adequate Disclosure.( ). 6

21 7 :.3 " ) ( ).( ) (. (Rotheli, 2010,..290) 7

22

23 ( ) ( ). 9

24 10 ( ) ( ). " Information- Transparency Cycle " Culture of ( ). Transparency (CoT).( ) 10

25 : ( )

26 12 Financial Reporting Financial Services Authority (FSA) Council (FRC) The Listing Rules and The Disclosure and Transparency Rules (DTR) 1933 Securities Act 1934 Securities Exchange Act. IFRS.( ) IAS ASB. 15 :

27 13 ( ) : ( ). :

28 14 ).(. ). ( : (GAAP) 14

29 15 (Jiangli, et. al, 2004, 36)......,... ( ). 15

30 16 (IAS 30). ( ). : ( ) : :.1. :.2. :.3. 16

31 17 :.4. : ( ) : :... " : ". 17

32 18 ( ) :

33 19 ). ( : (AICPA) " : (AAA) ( ) ". :

34 20..( ) ( ). 20

35 21 : ( ) (OECD) :

36 22 ( ), ) ().( (OCDE, 2004, 1-4) : : -1. :. -2 : -3.. : -4 22

37 23 : -5. : -6. ( )... (2 ) (1 ) 23

38 24 ( ).. ( ).1997 : 4-2. ( ). Organization for Economic Co- OECD 1999 operation and Development 24

39 25 OECD 2002 (IOSCO) (Jiangli, et. al, 2004, 93).. (39) (32) (30). 25

40 26 ( ).... :

41 ( )... 27

42 28... ). ( :

43 29. ). ( : ( ) 29

44 30 ( ).... :

45 31. ( ) )..(429 31

46 32 : 5-2 : : (2004) -1.,. (50) ,.. 32

47 33 : (2004) -2. (35).. : (2004) -3. (13) 33

48 34. : : (2005) -4.. (30). : (2005) -5. (45) (10) 34

49 35. : (2006) -6." " :(30) (30) (30). : (2007)

50 36. (100). : Improving Disclosure and Transparency in : (2003) Aranoff -8 Nonprofit Accounting (50)... 36

51 37 Relationship Lending, Accounting : (2004) Jiangli, et al. -9 Disclosure and Credit Availability during Crisis دراسة (2006) Ghazali and Weetman بعنوان: Perpetuating traditional influences: Voluntary disclosure in Malaysia following the economic crisis 1997 (45) 37

52 38 Keynesian Beauty Contest, Accounting : (2007) Pingyang. -11 Disclosure, and Market Efficiency 65 Keynes.. Accounting Disclosure in Companies : (2007) Dahawy -12 listed on the Egyptian Stock Exchange 100 %61. 38

53 دراسة (2010) Rotheli بعنوان: Causes of the financial crisis: Risk misperception, policy mistakes, and banks bounded rationality (15). :

54 40 ( )

55 41 ( ) : 1-3. : : 2-3. : :(1)

56 42 (1) : 4-3 : ( ) : : -. : : -. 42

57 43 : 5-3. : : () ( ) : (35) (35-26) (25-13) (12-1). 43

58 44 : 6-3 : (2 ). : ( ) (150) ( ). (2) (0,86) 44

59 45 (2) Cronbach Alpha : 7-3 : (SPSS) (One Sample T-Test) (T) - 45

60

61 47 : 1-4. :

62 48 : (3) % % % % (3) (133) %88.7 %11.3 (17). 48

63 49 : (4) % % % % (4) %84.7 (127).%19.3 (30). 49

64 50 : (5) % % 16, % 41, % 28, % 13, % %16,7 (25) (5) (62) ( 10-5) %28,7 (43) (15-11) %41.3 %13.3 (20) ( 15). 50

65 (Likert Scale) :(6) (6) :(7) 51

66 52 (7) * :

67 53 :( ) " " (8). (8)

68

69

70 (8) ( )..( )..* (3) " : (7) (8)." (8) %91 * " " : : (11) %86.2 (4.31) ". ".(%80.4) (4.24) 3 =5 / * * 56

71 57 ": (9).%68.6 (3.43) " (3.91). :( ) "." (9). 57

72 58 (9) ( )

73

74 (9) ) ( ).( (3) " : (15) (9). " 60

75 61 (13) %89 " ": " : (19) %88.2 (4.41) (4.27) ". ": (20).(%85.2) ".%62.2 (3.11) (3.76 ).. 61

76 62 :( ) "." (10). (10)

77

78 (39) (32) (30) (10).( ) ( ) 64

79 65..(3) " : (26) (10). " ": (34) %86.6 %84.8 (4.24) " " : (32).(%84) (4.20) ". ": (28) ".%64.2 (3.21) (3.84). 65

80 66 : 5-4 : T-Test " " (11) Sig T T ( T) (11) T-Test (0.05) ( T) ( T) ( T). 66

81 67 : "." (12) Sig T T ( T) ( T) (12) (0.05). 67

82 "." (13) Sig T T ( T) (13) T-Test (0.05) ( T). 68

83 69 : : (14) (14). 69

84

85 71 : 1-5 : %89.1 %85 %11 %15 %45... :

86 72.3 : :

87 73 : 2-5 :.1.(39) (32) (30)

88 74 : : (2005) -. (2008) -. :.(2006) -. : (2000) -. (2005) -. (2009) -. 74

89 75 (2005) (2004) -,, (2004) (2003) (1995) - (2000) -. 75

90 76 (2006) - " :(30) " (2) (28) (2007) (1) (29) (2000) (2001) (2003) -. 76

91 77 (2005) -. (2004) -. (2007) -. 1 (2002) -.. (2009)

92 78 (2008) -.2 (2008) ; ; -.17 (2004) -.11 (2007) Aranoff, G. (2003), Improving disclosure and transparency in nonprofit accounting, Management Accounting Quarterly, NY: spring, vol. 4, o

93 79 - Bowen, Robert, and others (2003), Accounting discretion, corporate governance and firm performance, School of Business, University of Washington. - Dahawy, K. (2007), Accounting disclosure in companies listed on the Egyptian stock exchange, Middle Eastern Finance and Economics, Cairo. - Ghazali, N, and Weetman, P. (2006) Perpetuating traditional influences: Voluntary disclosure in Malaysia following the economic crisis, Journal of International Accounting, Auditing and Taxation, Volume 15, Issue 2, Pages Jiangli, W., Unal, H., Yom, C. (2004), Relationship Lending, Accounting Disclosure, and Credit Availability during Crisis. Federal Deposit Insurance Corporation, Washington DC. - Pacter, P. (1996), Accounting Standards for International Capital Markets, IASC, UK. - Pingyang, G. (2007), Keynesian Beauty Contest, Accounting Disclosure, and Market Efficiency. The University of Chicago - Graduate School of Business. 79

94 80 - Rotheli, T. (2010) Causes of the financial crisis: Risk misperception, policy mistakes, and banks bounded rationality, Journal of Socio- Economics, Volume 3, Issue 2, Pages

95 81 81

96 82 (1) : " ".. 82

97 83 ( ) :. ( ) * : : : ( ) : -4 : -5 :

98 84 : :

99

100 86 : 13.. ( )

101

102 88 :

103 (30) 35.(39) (32) 89

104 90 (2) 90

105 91 (3) 91