Information Systems Faculty Publications and Presentations
Explaining the Accounting Disclosure Index of Stock Exchanges by Foreign Exchange Market Activity
In this article, researcher-created accounting disclosure index of 23 stock exchanges for the year 1992 and its relationship with variables including foreign exchange turnover, economic and financial indicators were investigated. The accounting disclosure index of global stock exchanges crafted by Adhikari and Tondkar (1992) was regressed on foreign market turnover which was utilized as a proxy for foreign exchange market activity. The OLS results supported that along with the activity of foreign exchange market; GNI per capita, market capitalization, energy and electric consumption, number of listed companies were significantly related with the accounting disclosure index. The foreign market turnover was found to be positively influencing the accounting disclosure index. The models explained about 73% of the variation in the index with an F-ratio of 26.56 indicating the overall significance of the model.
Bakay, A. and Moqbel, M. (2012) ‘Explaining the accounting disclosure index of stock exchanges by foreign exchange market activity’, Advances in Accounting, 28(2), pp. 293–297. doi: 10.1016/j.adiac.2012.09.006.
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Advances in Accounting
Copyright © 2012 Elsevier Ltd. All rights reserved. Original published version available at https://doi.org/10.1016/j.adiac.2012.09.006