The above review of accounting studies concerning Egypt confirms that there is a growing body of literature
concentrating on accounting disclosures in Egypt. However, most previous studies regarding Egypt, including studies in
developed countries, investigated the relationship between accounting disclosure practices and the internal or
local environment, stock market performance, and application of the IAS/IFRS. There has been no systematic empirical
assessment exploring the relationship between corporate voluntary disclosure practices and international socioeconomic
environmental factors. We believe that international socio-economic environmental factors are too important
to leave unaddressed. We attempt to fill this gap in the prior research. Next, we discuss our theory and hypotheses.