دور الإفصاح الاختياري في التنبؤ بالفشل المالي وكفـاءة أسواق الأوراق المالية

دراسة ميدانية على سوق الخرطوم للأوراق المالية

Abstract

The problem of the study is not to disclose non-financial aspects that the users are interested in in the accounting information contained in the optional disclosure, which creates mistrust between investors and stakeholders, and this results in a global financial crisis and the collapse of some major investment companies, as a lack of disclosure and transparency in the financial reports it publishes Companies to lose confidence in these reports, the study aimed to clarify the role of voluntary disclosure on human resources and forecast financial failure, to explain the role of voluntary disclosure on environmental resources and forecast financial failure, to explain the role of voluntary disclosure of liability Hypothetically and predicting financial failure, the importance is the novelty of the topic in the Sudanese business environment and then providing a scientific material to enrich academic libraries, using financial prediction models to reveal the possibility of future financial failure of the facility and avoiding the risk of failure, study hypotheses There is a statistically significant relationship between the optional disclosure On human resources and forecasting financial failure, there is a statistically significant relationship between voluntary disclosure about environmental resources and forecasting financial failure, there is a statistically significant relationship between voluntary disclosure of social responsibility and forecasting financial failure To me, there is a statistically significant relationship between the optional disclosure of human resources and the efficiency of financial markets, there is a statistically significant relationship between the optional disclosure of environmental accounting and the efficiency of financial markets, there is a statistically significant relationship between the optional disclosure of social responsibility and the efficiency of financial markets, the researcher used the approaches The following is the historical approach, deductive approach, inductive approach, analytical approach, the study reached several results, including accounting disclosure as a tool for communicating accounting information to the parties using it, optional disclosure indicating that Economic units by publishing financial and non-financial information without any restrictions on the efficiency of stock markets. The study recommended that voluntary disclosure should reduce the phenomenon of asymmetry of information among stock market dealers. Optional disclosure provides important information in interim reports and any other accounting matters And increase the efficiency of stock markets.