Financial Disclosure In Emerging Capital Markets

Abstract

The study examines financial disclosure in emerging capital markets in Tanzania. The study analysed financial reports of 12 companies (listed and unlisted) for the period from 1996 to 1998. Results reveal that there were no significant differences with respect to the extent of disclosure, timeliness, the type of audit opinion and changes in the accounting policies made before and after the introduction of the capital markets. It concludes that, the establishment of the capital markets has not improved the financial information disclosure and the quality of the financial information, which the investors receive through financial reports.