The impact of multi-layer governance on bank risk disclosure in emerging markets: the case of Middle East and North Africa

Ahmed A. Elamer, Collins Ntim, Hussein A. Abdou, Alaa Mansour Zalata, Mohamed Elmagrhi

Research output: Contribution to journalArticle

11 Citations (Scopus)


This study examines the impact of multi-layer governance mechanisms on the level of bank risk disclosure. Using a large dataset from 14 Middle East and North Africa (MENA) countries over a period of 8 years, our findings are three-fold. First, our results suggest that the presence of a Sharia supervisory board is positively associated with the level of risk disclosure. Second and at the bank-level, we find that ownership structures have a positive effect on the level of risk disclosure. At the country-level, our evidence suggests that control of corruption has a positive effect on the level of bank risk disclosure. Our study is, therefore, a major departure from much of the existing accounting literature that offers new crucial insights that show that firms’ disclosure choices are not mainly shaped by firm-level (internal) governance arrangements, but also country-level (external) governance and religious factors. Our findings have important implications for corporate boards, investors, regulatory authorities, standards-setters and governments relating to the development, implementation and enforcement of corporate and national governance standards.
Original languageEnglish
Pages (from-to)246-281
Number of pages36
JournalAccounting Forum
Issue number2
Early online date22 Apr 2019
Publication statusPublished - May 2019


Cite this