الفهرس 
CHAPTER ONE GENERAL FRAMEWORK OF THE STUDYOnly 14 pages are availabe for public view
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Abstract
The Research aims to analyze the relationship between levels of the accounting disclosure and the cost of capital and the impact of this relationship on the investment efficiency in the emerging Egyptian capital market. This study uses the approach of cross sectional observations of the annual reports for listed non-financial companies in the Egyptian Stock Exchange during the period (2010 - 2018), with a total of (369) observations, in order to test the research four hypotheses that reflects the relationship between the accounting disclosure levels and both the cost of capital and the investment efficiency, so panel data regression will be most applicable to present such a linear relationship.
The results of the study points to a moderate level of disclosure in the financial reports of listed Egyptian companies, and its association with a statistically significant negative relationship with the cost of capital, and has positive relationship with efficient investment. Based on that the study recommends stimulating the Egyptian companies to increase the level of disclosure information to attract new investment opportunities, and the issuance of an independent accounting standard that regulates the way of its preparation and disclosure, and the application of good corporate governance practices. The findings demonstrate for managers that the increased levels of disclosure reduce the cost of external finance and improve the marketability of firms’ equities, which may directly impact growth opportunities especially when information is communicated to investors in a timely fashion. The findings show that corporate disclosure policy depends more on the managers’ incentives to provide informative annual reports than on standards and regulations.
This study contribute in the accounting literature through the development of an index to measure the level of disclosure and the analysis if the relationship between this level, the cost of capital and the efficiency of Egyptian companies’ investment (as an example of emerging economies) in an integrated way.