الإفصاح المحاسبي ودوره في ترشید القرار الاستثماري في سوق الأوراق المالية - دراسة حالة بورصة الجزائر

Abstract

Accounting disclosure is considered an important tool for the investors in capital market, where the latter is regarded as a motor of economic and social development, through its role in attracting and collecting savings. For that the success of this market depends on many factors like its efficiency and the level of accounting disclosure which reveals the financial position of the companies. Farther more, accounting disclosure may has a negative impact when the accounting information is not credible, or it’s not good. This fact may influence the investors negatively, especially when the investment decision is influenced by the needs of each investor, and his ability to obtain and analyze these information to undertake his investment decision. Algeria has known many economic reforms through which its financial market is established, this latter contributed in financing many companies through launching shares which are considered as the main pillar of the fianancial market in Algeria. The success and development of this market depends a lot on the quality of accounting information of the companies to give a real image about their financial position included in their financial reports.