Reporting the management’s commentary, its impact on financing cost, their reflection on firm’s going concern

 Applied research in the Iraqi industrial firms listed on the Iraq Stock Exchange

Thesis submitted to the Board of the Faculty of Management and Economics – University of Karbala, which is part of the requirements for the degree of Doctor of Philosophy in Accounting

Of the student

Karrar Saleem Abdulzahra Hameedi

Supervised by

Assistant prof.  Dr .Asaad Mohammed Ali Wahhab Al-Awwad

The thesis aims at the intellectual framing of the list of management commentary, studying the characteristics of its information and its elements, and showing the intellectual and practical impact of reporting on the management’s commentary in both the financing cost and the firm’s going concern, by applying to 109 observation of the Iraqi industrial firm listed on the Iraq Stock Exchange for the period 2010-2019.

     thesis variables were measured quantitatively, as an indicator was developed to assess the level of reporting on management commentary, the weighted financing cost was used, and the Z-Score indicator was adopted to assess the firm’s going concern, With the help of the SPSS statistical package program, the validity of the data for statistical analysis was verified through normal distribution tests, free from linear interference, and weak self-correlation between the independent and control variables. The thesis hypotheses were tested using multiple linear regression, Anova test, and Binomail test.

Among the most important findings of the thesis: –

1-There is a gap between the local and international rules related to reporting management commentary, the typicality of management reporting reports in Iraqi firms, the lack of employment and benefit from them, their lack of forward-looking information, and a very large decrease in the rate of reporting on management commentary and their variation from one firm to another.

2- Although the low level of reporting on management commentary that it had a direct effect on both the cost of equity financing and on the firm’s going concern, and this indicates the importance of this type of reporting and its impact on the financial markets and its dealers. 3- The implementation effect of reporting management commentary on the cost of borrowing has not been demonstrated, nor has this effect of the weighted