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Volume :9 Issue : 1 2002      Add To Cart                                                                    Download

The Information Content of Kuwaiti Firms Accounting Disclosures

Auther : Wael E. Al-Rashed

This paper examines the information content and value of corporate financial accounting disclosures to financial analysts and investors generally in Kuwait. The focus is on four major releases of information, the preliminary announcement, annual report, annual general meeting and the interim report. Daily share price data for a sample of firms is used and the issue of thin trading is explored. Particular attention is paid to the incremental information content of the annual report, an issue that has received inadequate research focus to date in Kuwait. The results of this study, inter alia, suggest that the annual report in general contains little apparent information of value to investors for decision-making purposes, although such results may still be consistent with price sensitive information being disclosed in individual firm cases. An inverse relationship between company size and announcement information content is also reported.

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