Finance et Comptabilité

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Analysis of financial disclosure quality among listed companies Case STUDY: ALGERIA 2018-2023
(Ecole des Hautes Etudes commerciales, 2025-06) DELLIOU, Meriem; BENIKHLEF, Faiza (Directeur de thése)
In the perspective of the ongoing economic reforms in Algeria supporting the transition from bank-based to market-based financing, the analysis of disclosure quality among companies listed on the Algiers stock exchange is of particular interest. Because transparency has always been a core value of stock markets, and stakeholders today value information just as much as they value capital performance. The goal of this research work is to study the factors that influence of the quality of financial disclosure divulged by companies listed on the Algiers stock exchange. To answer this research problem, we first calculated a disclosure quality index on the basis of an information grid applied to each firm’s annual reports over the study period. We then ran a bivariate and a multivariate analysis between this disclosure index and the variables company size, industry affiliation, financial leverage and listing age. We concluded that the company size, financial leverage and industry affiliation have a positive effect on the disclosure quality of listed companies. The results of this quantitative analysis have allowed us to understand the disclosure practices of companies listed on the stock exchange and suggest improvement perspectives.