Abstract
This current exploratory study comes at a critical time to determine the risk disclosure pattern of Jordanian companies during Covid-19 pandemic in response to the request of JSC for Jordanian listed companies to prepare and send disclosure reports include the effect of Covid-19 pandemic on their activities in terms of material events, operational activities and the decisions of board of directors during the period of disclosure suspension extending from March 18, 2020 to May 5, 2020. Based on all the non-financial companies that listed in the first market, the results of the study indicated that the entire study sample (100%) did send the disclosure reports to JSC. In terms of the quality of disclosed risks, extraction process resulted in finding 20 risk items distributed over 5 categories. The results show that the average disclosure level is 65.6%, with the operational category ranked first and followed by investor relation category, financial category, strategic category and finally the market category. Results show that those sectors that were suspended completely during Covid-19 pandemic provided risk disclosures in all categories and vice versa. In addition to the several implications, the study offers many avenues for future study based on the risk disclosure model of the current study.
Highlights
Not Like other crises, the COVID-19 pandemic has impacted all the aspects of life
The objectives of the current study are based mainly on the request of Jordan Securities Commission (JSC) from Jordanian listed companies to send disclosure reports explain the effect of the COVID-19 pandemic on their activities in terms of material information, operational activities and the decisions of board of directors during the period of disclosure suspension extending from March 18, 2020 to May 5, 2020
It has been argued that improvement in the legislative environment in Jordan is the major reason for the improvement of disclosure level among Jordanian companies (Omar & Simon, 2011)
Summary
Not Like other crises, the COVID-19 pandemic has impacted all the aspects of life. It can be argued that the COVID-19 pandemic is one of the most severe crises that passed on mankind. Crises have a major impact on reshaping the economies of many countries in a way that prepares them for any coming surprise (MacDonald, 1998). In this context, Gulzar et al (2019) performed a study to determine the effect of global financial crisis on the emerging Asian markets before, during and after the crisis for the period from July 2005 to June 2015. The results of the study indicated that U.S stock market has impacted emerging Asian stock markets during the three time periods to a considerable extent
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