الفهرس 
Chapter 1: IntroductionOnly 14 pages are availabe for public view
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Abstract
Corporate governance is a vital issue that is being addressed widely by regulators, and capital market participants around the world. Voluntary disclosure identified as one of the challenges facing the implementation of corporate governance especially in developing and emerging economies. Therefore, this study aims to contribute to corporate governance and voluntary disclosure literature by providing empirical evidence of the relationship between ownership structure, board of director characteristics, audit committee characteristics, and voluntary corporate disclosure. Also; the relationship between voluntary corporate disclosure and firm value based on market measures in an emerging capital market, based on a comprehensive theoretical framework and explore the economic consequences of corporate governance and its main characteristics. This study provides two kinds of literature, voluntary disclosure literature, and corporate governance literature, and supports the latest empirical evidence for the correlation between voluntary disclosure practices and corporate governance characteristics in one of the countries of the Middle East and North Africa (MENA), Egypt, compared with developed countries and Asian emerging markets. At the time of this study, in the case of Egypt, there was no prior empirical research, involving the voluntary corporate disclosure and its relationship with firm value. Therefore, the current study provides new evidence for a country that considered as a representative of Arab and African countries. This study empirically analyzes voluntary corporate disclosure in Egypt. In particular, this study seeks to: (i) evaluate voluntary corporate disclosure practices of Egyptian listed firms over the period 2010–2017; (ii) examine the contribution of ownership structure, board of director characteristics, audit committee characteristics and firm characteristics in explaining variation in the extent of voluntary corporate disclosure; and (iii) assess the relationship between voluntary corporate disclosure and firm value. Through the quantitative approach, the study tested balanced panel data of 210 Egyptian listed firms from 2010 to 2017 to generate a total of 1680 firm-year observations that were collected manually from the sampled firms’ annual reports. The findings obtained from firm value model suggest that good corporate governance practices are positively related to Tobin’s Q (Q-ratio). Whereas the level of voluntary corporate disclosure, firm profitability and audit type are positively correlated to Tobin’s Q, where firm size and firm leverage are negatively associated with Tobin’s Q. Finally, these findings obtained from both models suggest that the regulatory authorities need to strengthen further efforts to enhance the level of awareness of good voluntary corporate disclosure practices among critical internal and external stakeholders of corporate governance in Egypt for increasing the firm value.