THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73

Contents lists available at ScienceDirect

ScienceDirect

j o u r n a l h o m e p a g e : w w w . e l s e v i e r. c o m / l o c a t e / a e b j

Conference Title

‫ ﺩﺭﺍﺳﺔ ﺗﻄﺒﻴﻘﻴﺔ ﻋﻠﻰ‬-‫ﺩﻭﺭ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﻣﻤﺎﺭﺳﺔ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬
Role of Corporate Governance Application in Practice of Creative
Accounting Methods-Applied Study on Listed Companies in Khartoum
Exchange
‫ ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ‬،‫ ﺍﻟﺮﻳﺎﺽ‬،‫ ﺍﻟﻤﺪﻳﺮ ﺍﻟﻤﺎﻟﻲ ﻟﻤﺆﺳﺴﺔ ﻋﺒﺪ ﺍﻟﻌﺰﻳﺰ ﺍﻟﺮﺍﺟﺤﻲ‬،‫ ﺳﻴﺪ ﻋﺒﺪﺍﻟﺮﺣﻤﻦ ﺑﻠﻪ‬.‫ﺩ‬

Sayed A. Bala , Financial Manager , Rajhi Est., Riyadh , KSA.

-
ARTICLE INFO
ABSTRACT -

Article history: The purpose of the research is the definition of Corporate Governance and its principles, importance,
Received 28 September 2012 objectives, and knowledge of its role in reducing the practice of Creative Accounting, as well as its role
Received in revised form 30 January in raising the efficiency of companies' performance and Quality of Accounting Information. In this
2013 regard, the researcher used a descriptive analytical approach and looked into the theoretical and field
Accepted 27 February 2013
relevant studies of Arabs and foreigners with the induction and presentation of the most important
results, and the development of what supports the development of Corporate Governance and it is use in
raising the efficiency of companies' performance, and reducing the practice of Creative Accounting, with
Keywords:
Corporate Governance a field Study on Listed Companies in Khartoum Stock Exchange. The research came up with several
Quality of Accounting Information conclusions, such as the influential role of Corporate Governance in raising the efficiency of its financial
Efficiency of Corporate Performance and administrative performance. Besides, Corporate Governance has an effective role in determining the
Creative Accounting
Listed Companies on the Stock Market Quality of Accounting Information and reducing the practice of Creative Accounting.
© 2013 Holy Spirit University of Kaslik.Hosting
© 2013 xxxxxxxx. HostingbybyElsevier
ElsevierB.V.
B.V. All
All rights
rights reserved
reserved.

:‫ﺍﻟﻜﻠﻤﺎﺕ ﺍﻟﻤﻔﺘﺎﺣﻴﺔ‬ ‫ﻣﻠﺨﺺ‬

‫ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﻛﻔﺎءﺓ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻷﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬
________________________________
‫ ﻭﻣﻌﺮﻓﺔ ﺩﻭﺭﻫﺎ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﻓﻲ‬،‫ﻫﺪﻑ ﺍﻟﺒﺤﺚ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻳﻒ ﺑﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻣﺒﺎﺩﺋﻬﺎ ﻭﺃﻫﻤﻴﺘﻬﺎ ﻭﺃﻫﺪﺍﻓﻬﺎ‬
‫ ﺍﻋﺘﻤﺪ ﺍﻟﺒﺎﺣﺚ ﻋﻠﻰ ﺍﻟﻤﻨﻬﺞ ﺍﻟﻮﺻﻔﻲ ﺍﻟﺘﺤﻠﻴﻠﻲ ﻭﺍﻻﻁﻼﻉ ﻋﻠﻰ‬،‫ ﻓﻲ ﻫﺬﺍ ﺍﻹﻁﺎﺭ‬.‫ﺭﻓﻊ ﻛﻔﺎءﺓ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺎﺕ ﻭﻓﻲ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬
‫ ﻭﺍﺳﺘﻨﺒﺎﻁ ﻣﺎ ﻳﺪﻋﻢ ﺗﻄﻮﻳﺮ ﺣﻮﻛﻤﺔ‬،‫ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﻨﻈﺮﻳﺔ ﻭﺍﻟﻤﻴﺪﺍﻧﻴﺔ ﺍﻟﻌﺮﺑﻴﺔ ﻭﺍﻷﺟﻨﺒﻴﺔ ﺍﻟﻤﺘﻌﻠﻘﺔ ﺑﺎﻟﻤﻮﺿﻮﻉ ﻣﻊ ﺍﺳﺘﻘﺮﺍء ﺃﻫﻢ ﻧﺘﺎﺋﺠﻬﺎ ﻭﻋﺮﺿﻬﺎ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻭﻳﻔﻴﺪ ﻓﻲ ﺭﻓﻊ ﻛﻔﺎءﺓ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺎﺕ ﻭﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻣﻊ ﺇﺟﺮﺍء ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ‬
‫ ﻣﻨﻬﺎ ﻭﺟﻮﺩ ﺩﻭﺭ ﻣﻬﻢ ﻭﻣﺆﺛﺮ ﻟﻠﺤﻮﻛﻤﺔ ﻓﻲ ﺭﻓﻊ ﻛﻔﺎءﺓ ﺍﻷﺩﺍء ﺍﻟﻤﺎﻟﻲ ﻭﺍﻹﺩﺍﺭﻱ‬،‫ ﻭﺗﻮﺻّ ﻞ ﺍﻟﺒﺤﺚ ﺇﻟﻰ ﻋﺪﺓ ﻧﺘﺎﺋﺞ‬.‫ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬
ً ‫ ﺗﻠﻌﺐ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺩﻭﺭً ﺍ‬، ‫ ﺑﺎﻹﺿﺎﻓﺔ ﺇﻟﻰ‬.‫ﻟﻠﺸﺮﻛﺎﺕ‬
.‫ﻓﻌﺎﻻ ﻓﻲ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭ ﻓﻲ ﺍﻟﺤ ّﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬

____________________________________ _______________________________________________________________________________________________
* Corresponding author. Tel.: 00966500190571; fax: 00966112873547.
E-mail address: sayedbala@hotmail.com
Peerreview
Peer reviewunder
underresponsibility
responsibility of Holy Spirit University of Kaslik.
of xxxxx.

2214-4625/$ – see front matter ©2013 Holy Spirit University of Kaslik. Hosting by Elsevier B.V. All rights reserved.
http://dx.doi.org/10.1016/j.aebj.2013.12.001
‫‪64‬‬ ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬

‫‪ -‬ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬ ‫‪ .1‬ﻣﻘﺪﻣﺔ‬

‫ﻳﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬ ‫ﺇﻥ ﺍﻧﻬﻴﺎﺭ ﻋﺪﺩ ﻣﻦ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻜﺒﺮﻯ ﻓﻲ ﺍﻟﻌﺎﻟﻢ ﻣﺜﻞ ﺷﺮﻛﺔ ﺇﻧﺮﻭﻥ‬
‫‪ -‬ﺗﻮﺟﺪ ﻓﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟﺔ ﺇﺣﺼﺎﺋﻴﺔ ﻋﻨﺪ ﻣﺴﺘﻮﻯ ﺩﻻﻟﺔ )‪ (0,05‬ﻓﻲ ﺁﺭﺍء ﻋﻴﻨ ﺔ‬ ‫)‪ (Enron‬ﻟﻠﻄﺎﻗﺔ ﻭ ﺷﺮﻛﺔ ﻭﻭﺭﻟﺪﻛﻮﻡ )‪ (WorldCom‬ﻭﺍﻧﻬﻴﺎﺭ ﺷﺮﻛﺔ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﺣﻮﻝ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺃﺳ ﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳ ﺒﺔ‬ ‫ﺁﺭﺛﺮ ﺍﻧﺪﺭﺳﻮﻥ )‪ (Arthur Anderson‬ﺍﻟﺘﻲ ﺗﻌﺘﺒﺮ ﻓﻲ ﺣﻴﻨﻬﺎ ﻭﺍﺣﺪﺓ ﻣﻦ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ ﺗﻌﺰﻱ ﻟﻤﺘﻐﻴﺮﻱ ﺍﻟﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ ﻭﺍﻟﻮﺿﻊ ﺍﻟﻮﻅﻴﻔﻲ‪.‬‬ ‫ﺃﻛﺒﺮ ﺧﻤﺴﺔ ﺷﺮﻛﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﻭﺍﻟﻤﺮﺍﺟﻌﺔ ﻓﻲ ﺍﻟﻌﺎﻟﻢ – ﻭﺍﻟﺘﻲ ﺃﺻﺒﺤﺖ ﻓﻴﻤﺎ‬
‫‪ 5.1‬ﻣﻨﻬﺞ ﺍﻟﺒﺤﺚ‬ ‫ﺑﻌﺪ ﺍﻷﺭﺑﻌﺔ ﺍﻟﻜﺒﺎﺭ ‪ -‬ﻧﺘﻴﺠﺔ ﻟﺘﻮﺭﻁﻬﺎ ﻓﻲ ﺍﻧﻬﻴﺎﺭ ﺷﺮﻛﺔ ﺇﻧﺮﻭﻥ ﻭﻣﻤﺎﺭﺳﺔ‬
‫ﺍﻋﺘﻤﺪ ﺍﻟﺒﺎﺣﺚ ﻋﻠﻰ ﺍﻟﻤﻨﻬﺞ ﺍﻟﻮﺻﻔﻲ ﺍﻟﺘﺤﻠﻴﻠ ﻲ ‪Analytical Descriptive‬‬ ‫ﺗﻀﻠﻴﻞ ﻓﻲ ﺍﻟﺘﻘﺎﺭﻳﺮ ﻭﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻣﻤﺎ ﺃﺛﺮ ﺑﺼﻮﺭﺓ ﺳﻠﺒﻴﺔ ﻋﻠﻰ ﺍﻷﺳﻮﺍﻕ‬
‫‪ Approach‬ﻭﺍﻻﻁ ﻼﻉ ﻋﻠ ﻰ ﺍﻟﺪﺭﺍﺳ ﺎﺕ ﺍﻟﻨﻈﺮﻳ ﺔ ﻭﺍﻟﻤﻴﺪﺍﻧﻴ ﺔ ﺍﻟﻌﺮﺑﻴ ﺔ‬ ‫ﺍﻟﻤﺎﻟﻴﺔ ﺍﻷﻣﺮﻳﻜﻴﺔ ﻣﻤﺎ ﺩﻓﻊ ﺍﻟﻮﻻﻳﺎﺕ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻷﻣﺮﻳﻜﻴﺔ ﻓﻲ ﻋﺎﻡ ‪ 2002‬ﻡ‬
‫ﻭﺍﻷﺟﻨﺒﻴ ﺔ ﺍﻟﻤﺘﻌﻠﻘ ﺔ ﺑﺎﻟﻤﻮﺿ ﻮﻉ ﻣ ﻊ ﺍﺳ ﺘﻘﺮﺍء ﻭﻋ ﺮﺽ ﺃﻫ ﻢ ﻧﺘ ﺎﺋﺞ ﺍﻟﺪﺭﺍﺳ ﺎﺕ‬ ‫ﺑﻌﻤﻞ ﻗﺎﻧﻮﻥ ‪ Oxley Act Sarbanes-‬ﺍﻟﺬﻱ ﺃﻟﺰﻡ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ‬
‫ﺍﻟﺴﺎﺑﻘﺔ ﺍﻟﻤﺘﻌﻠﻘﺔ ﺑﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ‪ ،‬ﻣ ﻊ ﺇﺟ ﺮﺍء ﺩﺭﺍﺳ ﺔ‬ ‫ﺍﻷ ﺳﻮﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﺑﺎﻟﺘﻘﻴﺪ ﻭﺗﻄﺒﻴﻖ ﻣﺎ ﺟﺎء ﺑﻪ ﻟﻠﺤﺪ ﻣﻦ ﺗﺪﻧﻲ ﺍﻷﺧﻼﻗﻴﺎﺕ ﻭﺍﻟﺤﺪ‬
‫ﻣﻴﺪﺍﻧﻴ ﺔ ﻋﻠ ﻰ ﺍﻟﺸ ﺮﻛﺎﺕ ﺍﻟﻤﺴ ﺎﻫﻤﺔ ﺍﻟﻌﺎﻣ ﺔ ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬ ‫ﻣﻦ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ ﻋ ﻦ ﻁﺮﻳ ﻖ ﺍﺳ ﺘﺨﺪﺍﻡ ﺍﺳ ﺘﺒﺎﻧﻪ ﺗ ﻢ ﺇﻋ ﺪﺍﺩﻫﺎ ﺑﺎﻻﺳ ﺘﻔﺎﺩﺓ ﻣ ﻦ‬ ‫‪ 1.1‬ﻣﺸﻜﻠﺔ ﻭﺃﺳﺌﻠﺔ ﺍﻟﺒﺤﺚ‬
‫ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺴﺎﺑﻘﺔ ﺍﻟﻤﺘﻌﻠﻘﺔ ﺑﺎﻟﻤﻮﺿﻮﻉ‪.‬‬ ‫ﺇﻥ ﻣﺼﻄﻠﺢ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻅﻬﺮ ﻣﻨﺬ ﺍﻟﺜﻤﺎﻧﻴﻨﺎﺕ ﻛﻨﺘﻴﺠﺔ ﻟﻠﻤﻨﺎﻓﺴﺔ ﺍﻟﺤﺎﺩﺓ‬
‫‪ 6.1‬ﺣﺪﻭﺩ ﺍﻟﺒﺤﺚ‬ ‫ﺍﻟﺘﻲ ﺗﻌﺮﺿﺖ ﻟﻬﺎ ﺍﻟﻌﺪﻳﺪ ﻣﻦ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻷﻣﺮﻳﻜﻴﺔ ﻣﻦ ﻣﺜﻴﻠﺘﻬﺎ ﺍﻟﻴﺎﺑﺎﻧﻴﺔ ‪،‬‬
‫ﻳﻘﺘﺼﺮ ﺍﻟﺒﺤﺚ ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ‬ ‫ﻭﻧﺘﻴﺠﺔ ﻹﻓﻼﺱ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻌﺎﻟﻤﻴﺔ ﺍﻟﻜﺒﺮﻯ ﻓﻲ ﺍﻟﻌﻘﺪ ﺍﻷﻭﻝ ﻣﻦ ﺍﻟﻘﺮﻥ ﺍﻟﺤﺎﺩﻱ‬
‫ﻓﻲ ﻋﺎﻡ ‪2013‬ﻡ ‪.‬‬ ‫ﻭﺍﻟﻌﺸﺮﻭﻥ ﺍﻟﻤﻴﻼﺩﻱ ﺑﺴﺒﺐ ﺍﻷﺯﻣﺔ ﺍﻟﻌﺎﻟﻤﻴﺔ ﺍﻟﺘﻲ ﻭﺍﺟﻬﻬﺎ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻟﻌﺎﻟﻤﻲ‬
‫‪ .2‬ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺴﺎﺑﻘﺔ‬ ‫ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﺃﺩﻯ ﺇﻟﻰ ﺍﻟﺒﺤﺚ ﻋﻦ ﻣﻔﻬﻮﻡ ﻳﻨﻈﻢ ﻋﻼﻗﺔ ﻗﺎﻧﻮﻧﻴﺔ ﻭﺷﺮﻋﻴﺔ ﺑﻴﻦ‬
‫ﺗﻨﺎﻭﻝ ﺍﻟﻌﺪﻳﺪ ﻣﻦ ﺍﻟﺪﺍﺭﺳﻴﻦ ﻭﺍﻟﺒﺎﺣﺜﻴﻦ ﻣﻮﺿﻮﻉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻛﺬﻟﻚ‬ ‫ﺇﺩﺍﺭﺓ ﺍﻟﻤﻨﺸﺄﺓ ﻭﺍﻷﻁﺮﺍﻑ ﺍﻟﻤﺘﻌﺎﻣﻠﺔ ﻣﻌﻬﺎ ﻟﺘﺠﻨﺐ ﺍﻟﺼﺮﺍﻋﺎﺕ ﺑﻴﻦ ﻫﺬﻩ‬
‫ﺗﻌﺮﺽ ﺍﻟﻜﺜﻴﺮ ﻣﻨﻬﻢ ﻟﻤﻔﻬﻮﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺃﺳﺎﻟﻴﺒﻬﺎ ﻭﻣﻦ ﻫﺬﻩ‬ ‫ﺍﻷﻁﺮﺍﻑ }‪ ،{1‬ﻛﻤﺎ ﺗﻌﺘﺒﺮ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻟﻬﺎ ﺗﺄﺛﻴﺮ ﻛﺒﻴﺮ ﻋﻠﻰ‬
‫ﺍﻟﺪﺭﺍﺳﺎﺕ ﻭﺍﻟﺒﺤﻮﺙ ﻣﺎ ﻳﻠﻲ ‪-:‬‬ ‫ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﺣﻴﺚ ﺗﻈﻬﺮﻫﺎ ﺑﺼﻮﺭﺓ ﻏﻴﺮ ﺣﻘﻴﻘﻴﺔ ﺑﻬﺪﻑ ﺗﺤﻘﻴﻖ ﺭﻏﺒﺎﺕ‬
‫‪ 1.2‬ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺘﻲ ﺗﻨﺎﻭﻟﺖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬ ‫ﺍﻹﺩﺍﺭﺓ ﻭﻟﻴﺲ ﻣﺼﻠﺤﺔ ﺍﻟﻤﺴﺘﻔﻴﺪﻳﻦ ﻣﻨﻬﺎ ﻭﻳﻤﻜﻦ ﺗﻠﺨﻴﺺ ﻣﺸﻜﻠﺔ ﺍﻟﺒﺤﺚ ﻓﻲ‬
‫}‪{2‬‬
‫‪ 1.1.2‬ﺩﺭﺍﺳﺔ )‪(Julie , 2001‬‬ ‫ﺍﻷﺳﺌﻠﺔ ﺍﻟﺘﺎﻟﻴﺔ ‪:‬‬
‫ﺍﻫﺘﻤﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺑﺄﺛﺮ ﻣﻘﺪﺍﺭ ﺍﻹﻓﺼﺎﺡ ﺍﻹﺟﻤﺎﻟﻲ ﻋﻦ ﻋﻨﺎﺻﺮ ﺣﻮﻛﻤﺔ‬ ‫ﻣ ﺎﻫﻮ ﺩﻭﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺭﻓ ﻊ ﻛﻔ ﺎءﺓ ﺍﻷﺩﺍء ؟ ﻫ ﻞ ﺗ ﺆﺛﺮ ﺃﺳ ﺎﻟﻴﺐ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺍﻟﺘﻐﻴﺮﺍﺕ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺷﺮﻛﺔ ﻓﻴﻠﻴﺐ ﺧﻼﻝ‬ ‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﻠﻰ ﻣﺼﺪﺍﻗﻴﺔ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ؟‬
‫ﺍﻟﻔﺘﺮﺓ ﺑﻴﻦ‪1992‬ﻡ–‪2000‬ﻡ ﻗﺒﻞ ﺃﺭﺑﻌﺔ ﺳﻨﻮﺍﺕ ﻣﻦ ﺍﺷﺘﺮﺍﻁ ﺿﺮﻭﺭﺓ‬ ‫ﻫﻞ ﺍﻷﺑﻌﺎﺩ ﺍﻷﺧﻼﻗﻴﺔ ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺗﺘﻨﺎﻓﻰ ﻣﻊ ﻗﻮﺍﻋﺪ ﻭﺃﺧﻼﻗﻴﺎﺕ ﻣﻬﻨﺔ‬
‫ﺍﻹﻓﺼﺎﺡ ﻋﻦ ﻋﻮﺍﻣﻞ ﺍﻟﺤﻮﻛﻤﺔ ﻣﻦ ﻗﺒﻞ ﻟﺠﻨﺔ ﺍﻟﺒﻮﺭﺻﺔ ﺍﻻﺳﺘﺮﺍﻟﻴﺔ‪ ،‬ﻭﺗﻮﺻﻠﺖ‬ ‫ﺍﻟﻤﺤﺎﺳﺒﺔ ؟ ﻣﺎﻫﻮ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ؟‬
‫ﻧﺘﺎﺋﺞ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺃﻥ ﺃﻫﻢ ﻋﻨﺎﺻﺮ ﺍﻟﺤﻮﻛﻤﺔ ﺍﻟﺘﻲ ﺗﻢ ﺍﻹﻓﺼﺎﺡ ﻋﻨﻬﺎ ﻓﻲ‬ ‫ﻣﺎﻫﻮ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ؟‬
‫ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﻨﺸﻮﺭﺓ ﻟﻠﺸﺮﻛﺔ ﺧﻼﻝ ﺗﻠﻚ ﺍﻟﻔﺘﺮﺓ ﺗﻤﺜﻞ ﻟﺠﻨﺔ ﺍﻟﻤﺮﺍﺟﻌﺔ‪،‬ﺍﻟﻨﻈﺎﻡ‬ ‫‪ 2.1‬ﺃﻫﺪﺍﻑ ﺍﻟﺒﺤﺚ‬
‫ﺍﻟﺸﺮﻛﺔ ﺍﻷﺧﻼﻗﻲ‪،‬ﺗﻜﻮﻳﻦ ﺍﻟﻤﺠﻠﺲ ‪،‬ﺍﻟﻤﻜﺎﻓﺄﺓ ﻟﻠﻤﺠﻠﺲ ﻭﺍﻹﺩﺍﺭﺓ ‪،‬ﺍﻟﻠﺠﺎﻥ‬ ‫ﻳﻬﺪﻑ ﺍﻟﺒﺤﺚ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻳﻒ ﺑﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻣﺒﺎﺩﺋﻬﺎ ﻭﺃﻫﻤﻴﺘﻬﺎ ﻭﺃﻫﺪﺍﻓﻬﺎ ‪،‬‬
‫ﺍﻟﺘﻨﻔﻴﺬﻳﺔ‪،‬ﺍﻟﺮﻗﺎﺑـﺔ ﺍﻟﺪﺍﺧﻠﻴﺔ‪،‬ﻣﺠﻠﺲ ﺍﻹﺩﺍﺭﺓ ﻭﻟﺠﺎﻧـﻪ‪،‬ﺍﻟﺘﻘﺮﻳﺮ ﻭﺍﻹﺷﺮﺍﻑ ﺍﻟﻤﺎﻟﻲ‪.‬‬ ‫ﻭﻣﻌﺮﻓﺔ ﺩﻭﺭ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﻛﺬﻟﻚ‬
‫ﺩﻭﺭﻫﺎ ﻓﻲ ﺭﻓﻊ ﻛﻔﺎءﺓ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺎﺕ ‪ ،‬ﻭﻛﺬﻟﻚ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ‬
‫}‪{3‬‬
‫‪ 2. 1. 2‬ﺩﺭﺍﺳﺔ ) ‪( Beltratti , 2005‬‬ ‫ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫‪ 3.1‬ﺃﻫﻤﻴﺔ ﺍﻟﺒﺤﺚ‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻓﻬﻢ ﻋﻼﻗﺔ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺍﻟﻤﺴﺆﻭﻟﻴﺔ ﺍﻻﺟﺘﻤﺎﻋﻴﺔ‬
‫ﺗ ﺄﺗﻲ ﺃﻫﻤﻴ ﺔ ﺍﻟﺒﺤ ﺚ ﻣ ﻦ ﺍﻟﻨﺎﺣﻴ ﺔ ﺍﻟﻌﻠﻤﻴ ﺔ ﻟﻤﻮﺍﻛﺒ ﺔ ﺍﻻﺗﺠﺎﻫ ﺎﺕ ﺍﻟﺤﺪﻳﺜ ﺔ ﻓ ﻲ‬
‫ﺑﺘﻌﻈﻴﻢ ﺍﻟﺮﺑﺢ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﺷﺎﺭﺕ ﺍﻟﻨﺘﺎﺋﺞ ﺇﻟﻰ ﺇﻥ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭ‬
‫ﺍﻟﻔﻜ ﺮ ﺍﻟﻤﺤﺎﺳ ﺒﻲ ﻟﺘﻄﺒﻴ ﻖ ﺁﻟﻴ ﺎﺕ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻟﻤ ﺎ ﻟﻬ ﺎ ﻣ ﻦ ﺃﺛ ﺮ ﻓ ﻲ‬
‫ﺍﻟﻤﺴﺆﻭﻟﻴﺔ ﺍﻻﺟﺘﻤﺎﻋﻴﺔ ﻟﻬﻤﺎ ﻋﻼﻗﺔ ﺍﻳﺠﺎﺑﻴﺔ ﺑﺎﻟﻘﻴﻤﺔ ﺍﻟﺴﻮﻗﻴﺔ ﻟﻠﺸﺮﻛﺔ ﻣﻤﺎ ﻳﺸﻴﺮ‬
‫ﺇﺭﺳ ﺎء ﻣﺒ ﺪﺃ ﺍﻟﺸ ﻔﺎﻓﻴﺔ ﻭﺍﻟﻤﺴ ﺎءﻟﺔ ﻭﺍﻟﻤﺤﺎﻓﻈ ﺔ ﻋﻠ ﻰ ﺣﻘ ﻮﻕ ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ‬
‫ﺇﻟﻰ ﺍﻧﻪ ﺁﻟﻴﺔ ﺍﻟﺴﻮﻕ ﻓﻲ ﺍﻟﻤﺪﻯ ﺍﻟﺒﻌﻴﺪ ﻳﺠﺐ ﺃﻥ ﺗﻜﻮﻥ ﻗﺎﺩﺭﺓ ﻋﻠﻰ ﺗﻮﻓﻴﺮ ﻣﻮﺍﺭﺩ‬
‫ﻭﺃﺻ ﺤﺎﺏ ﺍﻟﻤﺼ ﻠﺤﺔ ﻭﺿ ﻤﺎﻥ ﺟ ﻮﺩﺓ ﺍﻟﺘﻘ ﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴ ﺔ ﻭﺗﺤﻘﻴ ﻖ ﻓﻌﺎﻟﻴ ﺔ‬
‫ﺇﺿﺎﻓﻴﺔ ﻟﻬﺬﻩ ﺍﻟﺸﺮﻛﺎﺕ ‪.‬‬
‫ﻓ ﻲ ﺃﺩﺍء ﺍﻟﺸ ﺮﻛﺎﺕ ﻟﺘ ﺪﻓﻊ ﻋﻤﻠﻴ ﺔ ﺍﻟﺘﻨﻤﻴ ﺔ ﺍﻻﻗﺘﺼ ﺎﺩﻳﺔ ﻓ ﻲ ﺑﻠ ﺪﺍﻧﻬﺎ ﺇﻟ ﻰ‬
‫}‪{4‬‬
‫‪ 3. 1. 2‬ﺩﺭﺍﺳﺔ )ﻋﺒﺪ ﺍﻟﺤﻠﻴﻢ‪2005 ،‬ﻡ(‬ ‫ﺍﻷﻣ ﺎﻡ ﻭﻛ ﺬﻟﻚ ﻣﻌﺮﻓ ﺔ ﺩﻭﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺍﻟﺘ ﻲ ﺗ ﺆﺛﺮ ﻋﻠ ﻰ ﺃﺭﻗ ﺎﻡ ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ ﻟﻠﺸ ﺮﻛﺔ‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻗﻴﺎﺱ ﻣﺪﻯ ﺗﻄﺒﻴﻖ ﺍﻟﻤﺼﺎﺭﻑ ﺍﻟﺴﻮﺩﺍﻧﻴﺔ ﻟﻠﺤﻮﻛﻤﺔ‬
‫ﻭﺗﻈﻬﺮﻫ ﺎ ﺑﺼ ﻮﺭﺓ ﺧ ﻼﻑ ﺍﻟﻮﺍﻗ ﻊ ﺍﻟﻔﻌﻠ ﻲ ﻣﻤ ﺎ ﻳﻀ ﻠﻞ ﻣﺴ ﺘﺨﺪﻣﻲ ﻫ ﺬﻩ‬
‫ﺍﻟﻤﺆﺳﺴﻴﺔ ﻭﺇﺑﺮﺍﺯ ﺃﻫﻤﻴﺔ ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻋﻠﻰ ﺍﻟﺠﻬﺎﺯ ﺍﻟﻤﺼﺮﻓﻲ ﺍﻟﺴﻮﺩﺍﻧﻲ ‪،‬‬
‫ﺍﻟﻘ ﻮﺍﺋﻢ ‪ ،‬ﻭﻣ ﻦ ﺍﻟﻨﺎﺣﻴ ﺔ ﺍﻟﻌﻤﻠﻴ ﺔ ﺗ ﺄﺗﻲ ﺃﻫﻤﻴ ﺔ ﺍﻟﺒﺤ ﺚ ﻓ ﻲ ﻅ ﻞ ﺍﻫﺘﻤ ﺎﻡ‬
‫ﻣﻦ ﺧﻼﻝ ﺍﺳﺘﺨﺪﺍﻡ ﺍﺳﺘﺒﺎﻧﻪ ﻭﺯﻋﺖ ﻋﻠﻰ ﻣﺠﻤﻮﻋﺔ ﻣﻦ ﺍﻟﻤﺼﺎﺭﻑ ﺍﻟﻌﺎﻣﻠﺔ ﻓﻲ‬
‫ﺍﻟﺠﻬ ﺎﺕ ﺍﻟﺮﺳ ﻤﻴﺔ ﻭﻏﻴ ﺮ ﺍﻟﺮﺳ ﻤﻴﺔ ﻭﺍﻟﻤﻨﻈﻤ ﺎﺕ ﺍﻟﻤﻬﻨﻴ ﺔ ﻭﺍﻷﻛﺎﺩﻳﻤﻴ ﺔ‬
‫ﺍﻟﺴﻮﺩﺍﻥ ‪ ،‬ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺇﻥ ﺍﻟﻤﺼﺎﺭﻑ ﺍﻟﺴﻮﺩﺍﻧﻴﺔ ﺗﻄﺒﻖ ﻣﺒﺎﺩﺉ‬
‫ﺑﺘﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻭﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ‬
‫ﺍﻟﺤﻮﻛﻤﺔ ﺍﻟﻤﺆﺳﺴﻴﺔ ﺍﻟﻤﻤﺜﻠﺔ ﻓﻲ ﻣﻘﺮﺭﺍﺕ ﻟﺠﻨﺔ ﺑﺎﺯﻝ ﻟﻺﺷﺮﺍﻑ ﺍﻟﻤﺼﺮﻓﻲ‬
‫ﻭﺍﻟﺒﺤﺚ ﻳﺴﺎﻫﻢ ﻓﻲ ﺇﺛﺮﺍء ﺫﻟﻚ‪.‬‬
‫ﻭﺗﻌﻠﻴﻤﺎﺕ ﺍﻟﺒﻨﻚ ﺍﻟﻤﺮﻛﺰﻱ‪.‬‬
‫‪ 4.1‬ﻓﺮﺿﻴﺎﺕ ﺍﻟﺒﺤﺚ‬
‫}‪{5‬‬
‫‪ 4. 1. 2‬ﺩﺭﺍﺳﺔ ) ﻣﺘﻮﻟﻲ ‪2006 ،‬ﻡ(‬ ‫ﻓﻲ ﺿﻮء ﻣﺸﻜﻠﺔ ﺍﻟﺒﺤﺚ ﻭﺃﻫﺪﺍﻓﻪ‪،‬ﺗﻢ ﺻﻴﺎﻏﺔ ﺍﻟﻔﺮﺿﻴﺎﺕ ﺍﻟﺘﺎﻟﻴﺔ ‪:‬‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﻹﺟﺮﺍء ﻣﻘﺎﺭﻧﺔ ﺑﻴﻦ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻓﻘﺎ ﻟﻨﻈﺎﻡ ﺍﻟﺸﺮﻛﺎﺕ‬ ‫‪ -‬ﺗﺪﺭﻙ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ ﺗ ﺄﺛﻴﺮ ﺗﻄﺒﻴ ﻖ‬
‫ﺍﻟﺴﻌﻮﺩﻱ ﻭﺍﻟﻤﻌﺎﻳﻴﺮ ﺍﻟﺪﻭﻟﻴﺔ ﻟﻠﺤﻮﻛﻤﺔ ﺍﻟﻤﺆﺳﺴﻴﺔ ﻭﺫﻟﻚ ﻟﺘﺤﺪﻳﺪ ﺍﻟﻔﺠﻮﺓ ﺑﻴﻨﻬﻤﺎ‬ ‫ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬
 ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﻟﻺﺑﺪﺍﻉ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻹﻋﺪﺍﺩ ﻗﻮﺍﺋﻢ ﻣﺎﻟﻴﺔ ﻻ ﺗﻨﻔﻊ ﺍﻟﻤﺴﺘﺨﺪﻣﻴﻦ ﺇﻧﻤﺎ ﺗﺤﻘﻖ‬
‫ﻣﺼﺎﻟﺢ ﻣﻌﺪﻳﻬﺎ ‪.‬‬
‫}‪{13‬‬
‫‪ 2.2.2‬ﺩﺭﺍﺳﺔ ) ﺟﺮﺍﺭ ‪2006 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺍﻟﺘﻲ ﺗﻘﻮﻡ‬
‫ﺑﺎﺳﺘﺨﺪﺍﻣﻬﺎ ﺷﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ ﺍﻷﺭﺩﻧﻴﺔ ﺑﻬﺪﻑ ﺗﻄﻮﻳﺮ ﺇﺳﺘﺮﺍﺗﻴﺠﻴﺔ‬
‫ﻟﻠﺤﺪ ﻣﻦ ﺁﺛﺎﺭﻫﺎ ﺍﻟﺴﻠﺒﻴﺔ ‪ ،‬ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺇﻥ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ‬
‫ﺍﻟﻌﺎﻣﺔ ﺍﻷﺭﺩﻧﻴﺔ ﺗﻤﺎﺭﺱ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺪﺭﺟﺎﺕ ﻣﺘﻔﺎﻭﺗﺔ‬
‫ﻭﺗﺘﻼﻋﺐ ﻭﺗﻤﺎﺭﺱ ﺍﻟﺘﻀﻠﻴﻞ ﻓﻲ ﻗﻮﺍﺋﻤﻬﺎ ﺍﻟﻤﺎﻟﻴﺔ ‪.‬‬
‫}‪{14‬‬
‫‪ 3.2.2‬ﺩﺭﺍﺳﺔ ) ﺍﻟﻤﺨﻴﺰﻳﻢ ‪2008 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻋﺮﺽ ﺃﻫﻢ ﻣﺸﺎﻛﻞ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺍﻟﺘﻲ ﺗﺆﺛﺮ ﻋﻠﻰ‬
‫ﻣﻨﻔﻌﺔ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪ ،‬ﻣﻦ ﺧﻼﻝ ﺩﺭﺍﺳﺔ ﺍﻟﺘﺠﺎﺭﺏ ﺍﻹﻗﻠﻴﻤﻴﺔ ﻭﺍﻟﻌﺎﻟﻤﻴﺔ‬
‫ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺧﺎﺻﺔ ﻣﻦ ﺗﺠﺎﺭﺏ ﺍﻟﻮﻻﻳﺎﺕ ﺍﻟﻤﺘﺤﺪﺓ ﻭﺗﻮﺻﻠﺖ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻏﻴﺎﺏ ﺍﻟﺸﻔﺎﻓﻴﺔ ﻧﺘﻴﺠﺔ ﺇﺧﻔﺎء ﺍﻟﻤﺤﺎﺳﺒﻴﻦ ﺣﻘﺎﺋﻖ ﻭﺃﺭﻗﺎﻡ ﻛﺎﻥ ﻣﻦ‬
‫ﺍﻟﻀﺮﻭﺭﻱ ﻟﻠﺠﻤﻬﻮﺭ ﺍﻻﻁﻼﻉ ﻋﻠﻴﻬﺎ ﻭ ﻋﺪﻡ ﺗﻀﻤﻦ ﺇﻁﺎﺭ ﺍﻟﻤﺴﺎءﻟﺔ ﺍﻟﻌﺎﻟﻤﻲ‬
‫ﺑﻌﺾ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻔﻌﺎﻟﻴﺔ ﻏﻴﺮ ﺍﻟﻤﺎﻟﻴﺔ ﻣﻊ ﺗﺤﺪﻳﺪ ﺩﺭﺟﺔ ﺍﻹﻓﺼﺎﺡ ﺣﻮﻝ‬
‫ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﺘﻲ ﺗﺘﺴﻢ ﺑﺎﻟﺤﺴﺎﺳﻴﺔ ﺍﻟﺸﺪﻳﺪﺓ ‪ ،‬ﺗﻌﺘﺒﺮ ﺍﻟﻨﻮﺍﺣﻲ ﺍﻷﺧﻼﻗﻴﺔ‬
‫ﻟﻤﻌﺪ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻣﻦ ﺍﻟﻌﻮﺍﻣﻞ ﺍﻷﺳﺎﺳﻴﺔ ﺍﻟﻤﺆﺛﺮ ﻋﻠﻰ ﺟﻮﺩﺓ‬
‫ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺣﻴﺚ ﺗﻮﺟﺪ ﻋﻼﻗﺔ ﺍﻳﺠﺎﺑﻴﺔ ﺑﻴﻦ ﺍﻟﻨﻮﺍﺣﻲ ﺍﻷﺧﻼﻗﻴﺔ ﻭﻣﺴﺘﻮﻯ‬
‫ﺍﻟﺠﻮﺩﺓ ﻭﺑﺎﻟﺘﺎﻟﻲ ﺍﻟﻤﻨﻔﻌﺔ ﺍﻟﻤﺮﺟﻮﻩ ﻭﺍﻟﻤﺮﻭﻧﺔ ﺍﻟﺰﺍﺋﺪﺓ ﻓﻲ ﺑﻌﺾ ﺍﻟﻤﻌﺎﻳﻴﺮ ﻭﻫﻮ‬
‫ﻣﺎ ﻳﺠﻌﻞ ﻟﻠﻤﻌﻴﺎﺭ ﺍﻟﻮﺍﺣﺪ ﻓﻰ ﻧﻔﺲ ﺍﻟﻮﻗﺖ ﺃﻛﺜﺮ ﻣﻦ ﺗﻄﺒﻴﻖ‪.‬‬
‫}‪{15‬‬
‫‪ 4.2.2‬ﺩﺭﺍﺳﺔ )ﺣﻤﺎﺩﺓ ‪2010،‬ﻡ (‬
‫ﻫﺪﻓﺖ ﻫﺬﻩ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﺍﻷﻧﺸﻄﺔ ﺍﻟﺘﻲ ﺗﻘﻮﻡ ﺑﻬﺎ ﻟﺠﺎﻥ ﺍﻟﻤﺮﺍﺟﻌﺔ‬
‫ﻭﺗﺆﺩﻱ ﺇﻟﻰ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ‪،‬ﺣﻴﺚ ﺗﻢ ﺗﻮﺯﻳﻊ ﺍﺳﺘﺒﺎﻧﺔ‬
‫ﻋﻠﻰ ﻋﺪﺩ ﻣﻦ ﺍﻟﻤﺮﺍﺟﻌﻴﻦ ﺍﻟﺨﺎﺭﺟﻴﻴﻦ ﻭﻋﻠﻰ ﺃﻋﻀﺎء ﻟﺠﻨﺔ ﺍﻟﻤﺮﺍﺟﻌﺔ ﻓﻲ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﺴﻮﺭﻳﺔ ﻭﻗﺪ ﺃﺟﻤﻌﺖ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﻋﻠﻰ ﺇﻥ ﺍﻷﻧﺸﻄﺔ‬
‫ﺍﻟﺘﻲ ﺗﻤﺎﺭﺳﻬﺎ ﻟﺠﺎﻥ ﺍﻟﻤﺮﺍﺟﻌﺔ ﺍﻟﻤﺘﻌﻠﻘﺔ ﺑﻤﻬﻤﺔ ﺍﻟﺮﻗﺎﺑﺔ ﻭﺍﻹﺷﺮﺍﻑ ﻭﻓﺤﺺ‬
‫ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺩﺭﺍﺳﺔ ﻭﺗﻘﻴﻴﻢ ﻧﻈﻢ ﺍﻟﻤﺮﺍﻗﺒﺔ ﺍﻟﺪﺍﺧﻠﻴﺔ ﺫﺍﺕ ﺗﺄﺛﻴﺮ ﻛﺒﻴﺮ ﻓﻲ‬
‫ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ‪.‬‬
‫}‪{16‬‬
‫‪ 5.2.2‬ﺩﺭﺍﺳﺔ )ﻣﺮﺍﺯﻗﺔ ﻭ ﺑﻮﻫﺮﻳﻦ ﻓﺘﻴﺤﺔ ‪2010،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺇﻅﻬﺎﺭ ﺍﻹﺑﺪﺍﻉ ﻓﻲ ﺍﻟﻤﺠﺎﻝ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻣﻦ ﺧﻼﻝ ﻣﺎ‬
‫ﻳﺼﺪﺭﻩ ﻣﺠﻠﺲ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺪﻭﻟﻴﺔ ﺳﻮﺍء ﻛﺎﻧﺖ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﺍﻟﺪﻭﻟﻴﺔ ﺃﻭ ﻣﻌﺎﻳﻴﺮ ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﺪﻭﻟﻴﺔ ﺍﻟﺘﻲ ﺗﺸﻜﻞ ﻓﻲ ﻣﺠﻤﻠﻬﺎ ﺇﺑﺪﺍﻋﺎ ً‬
‫ﻣﺤﺎﺳﺒﻴﺎ ً ﻭ ﺗﻄﻮﺭﺍً ﻓﻲ ﻣﺠﺎﻝ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﻧﺠﻠﻮﺳﺎﻛﺴﻮﻧﻴﺔ ﺍﻟﺘﻲ ﺗﻄﺒﻖ ﺑﻜﻞ ﻣﻦ‬
‫ﺍﻟﻮﻻﻳﺎﺕ ﺍﻟﻤﺘﺤﺪﺓ ﺍﻷﻣﺮﻳﻜﻴﺔ ﻭ ﺑﺮﻳﻄﺎﻧﻴﺎ ﻭ ﺍﻟﺪﻭﻝ ﺍﻟﺘﺎﺑﻌﺔ ﻟﻬﺎ ‪ ،‬ﻭﺃﻅﻬﺮﺕ ﻧﺘﺎﺋﺞ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﺇﻥ ﻣﻔﻬﻮﻡ ﺍﻹﺑﺪﺍﻉ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻗﺪﻳﻤﺎ ً ﻣﻘﺎﺭﻧﺔ ﺑﺘﺎﺭﻳﺦ ﻭﺟﻮﺩﻩ ﻟﻜﻨﻪ ﺧﻀﻊ‬
‫ﻟﺘﻄﻮﺭﺍﺕ ﻣﺘﻌﺪﺩﺓ‪ ،‬ﺗﻌﺘﺒﺮ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺪﻭﻟﻴﺔ ﺇﺑﺪﺍﻋﺎ ً ﻣﺤﺎﺳﺒﻴﺎ ً ﻧﻤﺎ ﻭ‬
‫ﺗﻄﻮﺭ ﻧﺘﻴﺠﺔ ﺗﻄﻮﺭ ﺍﻟﺴﻴﺎﺳﺎﺕ ﺍﻻﻗﺘﺼﺎﺩﻳﺔ ﻭ ﺍﻟﻤﺎﻟﻴﺔ ﻟﻠﻤﺆﺳﺴﺎﺕ ﻣﻤﺎ ﺗﻄﻠﺐ‬
‫ﻣﻦ ﻣﺠﻠﺲ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺪﻭﻟﻴﺔ ﻣﻮﺍﻛﺒﺔ ﻫﺬﻩ ﺍﻟﺘﻄﻮﺭﺍﺕ ﻭ ﺇﺩﺧﺎﻝ‬
‫ﺗﺤﺴﻴﻨﺎﺕ ﻋﻠﻰ ﺍﻟﻤﻌﺎﻳﻴﺮ ‪ ،‬ﺇﻥ ﺟﻌﻞ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺗﺘﻼءﻡ ﻣﻊ ﺧﺼﺎﺋﺺ ﻭ ﻣﻜﻮﻧﺎﺕ‬
‫ﺍﻟﻤﺆﺳﺴﺔ ﻣﻦ ﺧﻼﻝ ﺍﻟﻤﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺳﻴﺆﺩﻱ ﺇﻟﻰ ﺗﻘﻠﻴﺺ ﺍﻟﺘﺤﺎﻳﻞ ﻭ‬
‫ﺍﻟﺘﻼﻋﺐ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻭﺑﺎﻟﺘﺎﻟﻲ ﺗﻘﻠﻴﺺ ﺳﻠﺒﻴﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫}‪{17‬‬
‫‪ 6.2.2‬ﺩﺭﺍﺳﺔ )‪(Gherai and Balaciu , 2011‬‬
‫ﺍﻟﻬﺪﻑ ﻣﻦ ﺍﻟﺪﺭﺍﺳﺔ ﻫﻮ ﻟﻔﺖ ﺍﻻﻧﺘﺒﺎﻩ ﺇﻟﻰ ﻅﺎﻫﺮﺓ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺎﺳﺘﺨﺪﺍﻡ‬
‫ﺍﻟﻤﻨﻬﺞ ﺍﻻﺳﺘﻨﺘﺎﺟﻲ ﻣﻦ ﺧﻼﻝ ﺍﺧﺘﺒﺎﺭ ﺃﻧﻮﺍﻉ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﻭﻣﻘﺎﺭﻧﺔ ﺫﻟﻚ ﺑﺎﻟﻔﻀﺎﺋﺢ ﺍﻟﺘﻲ ﺣﺪﺛﺖ ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﻜﺒﻴﺮﺓ ﻓﻲ ﺍﻟﻌﻘﺪﻳﻦ ﺍﻟﻤﺎﺿﻴﻴﻦ‬
‫‪ ،‬ﺗﺤﺪﻳﺪ ﻣﻔﻬﻮﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺃﺷﻜﺎﻟﻪ ﻣﻦ ﺍﻟﻤﺨﺘﻠﻔﺔ ﻭﺍﻷﺳﺒﺎﺏ ﺍﻟﺘﻲ ﺃﺩﺕ‬
‫ﺇﻟﻰ ﺍﻷﺯﻣﺔ ﺍﻟﻤﺎﻟﻴﺔ ﻣﺮﺓ ﺃﺧﺮﻯ ‪ ،‬ﻭﺃﻭﺿﺤﺖ ﻧﺘﺎﺋﺞ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺃﻥ ﻣﻤﺎﺭﺳﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻟﻦ ﺗﺨﺘﻔﻲ ﺇﻻ ﺇﺫﺍ ﺍﺧﺘﻔﺖ ﺍﻷﺳﺒﺎﺏ ﺍﻟﺘﻲ ﺃﺩﺕ ﺇﻟﻰ ﻅﻬﻮﺭﻫﺎ‬
‫ﻋﻠﻰ ﺍﻟﺮﻏﻢ ﻣﻦ ﻭﺟﻮﺩ ﻧﻴﺔ ﺍﻟﺤﺪ ﻣﻨﻬﺎ ﻭﻋﻠﻰ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺃﻥ ﺗﺄﺧﺬ ﻓﻲ ﺍﻻﻋﺘﺒﺎﺭ‬
‫ﺍﻟﻈﺮﻭﻑ ﺍﻟﺘﻲ ﺗﺴﻤﺢ ﺑﺎﻟﺘﻌﺒﻴﺮ ﺗﺤﺖ ﺇﺷﺮﺍﻑ ﺩﻗﻴﻖ ‪.‬‬
‫}‪{18‬‬
‫‪ 7.2.2‬ﺩﺭﺍﺳﺔ )ﺍﻷﻏﺎ ‪(2011 ،‬‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﺍﻟﺘﺄﺛﻴﺮ‬
‫ﺍﻟﺴﻠﺒﻲ ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﻠﻰ ﻣﻮﺛﻮﻗﻴﺔ ﺍﻟﺒﻴﺎﻧﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ﺑﺎﻟﺘﻄﺒﻴﻖ ﻋﻠﻰ‬
‫ﺍﻟﺒﻨﻮﻙ ﺍﻟﻔﻠﺴﻄﻴﻨﻴﺔ ﺑﺈﺗﺒﺎﻉ ﺍﻟﻤﻨﻬﺞ ﺍﻟﻮﺻﻔﻲ ﺍﻟﺘﺤﻠﻴﻠﻲ ‪ ،‬ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ‬
‫ﻭﺟﻮﺩ ﺩﻭﺭ ﻟﺘﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺫﻭ ﺩﻻﻟﺔ ﺇﺣﺼﺎﺋﻴﺔ ﻋﻨﺪ ﻣﺴﺘﻮﻯ ﺩﻻﻟﺔ‬
‫‪ 0.05‬ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﺍﻟﺘﺄﺛﻴﺮ ﺍﻟﺴﻠﺒﻲ ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﻠﻰ ﻣﻮﺛﻮﻗﻴﺔ ﺍﻟﺒﻴﺎﻧﺎﺕ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ‪.‬‬
‫}‪{19‬‬
‫‪ 8.2.2‬ﺩﺭﺍﺳﺔ )‪(Demerens, Paré and Redis , 2013‬‬
‫‪65‬‬
‫ﻭﺗﻌﻴﻴﻦ ﺍﻟﻤﻼﻣﺢ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻟﻬﺬﻩ ﺍﻟﻔﺠﻮﺓ ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻭﺟﻮﺩ ﻓﺠﻮﺓ‬
‫ﺑﻴﻦ ﻗﺎﻧﻮﻥ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ﻭﺍﻟﻤﻌﺎﻳﻴﺮ ﺍﻟﺪﻭﻟﻴﺔ ﻟﺤﻮﻛﻤﺔ‬
‫ﺍﻟﺸﺮﻛﺎﺕ‪.‬‬
‫}‪{6‬‬
‫‪ 5. 1. 2‬ﺩﺭﺍﺳﺔ ) ﺍﻟﺤﻠﺒﻲ ‪2009 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺑﻴﺎﻥ ﺩﻭﺭ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺯﻳﺎﺩﺓ ﺭﺑﺤﻴﺔ ﺍﻟﻤﻨﺸﺎﺕ ﺍﻟﺼﻨﺎﻋﻴﺔ‬
‫ﺍﻟﺨﺎﺻﺔ ﻓﻲ ﺳﻮﺭﻳﺎ ‪ ،‬ﺗﻢ ﺗﻮﺯﻳﻊ ﺍﺳﺘﺒﺎﻧﺔ ﻋﻠﻰ ﻫﺬﻩ ﺷﺮﻛﺎﺕ ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺇﻟﻰ ﺍﻟﻌﺪﻳﺪ ﻣﻦ ﺍﻷﺳﺒﺎﺏ ﺍﻟﺘﻲ ﺗﺒﺮﺭ ﺍﻟﺪﻭﺭ ﺍﻻﻳﺠﺎﺑﻲ ﻹﺟﺮﺍءﺍﺕ ﻭﻣﺒﺎﺩﺉ‬
‫ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺯﻳﺎﺩﺓ ﺍﻟﺮﺑﺤﻴﺔ ﻓﻲ ﺍﻟﻤﻨﺸﺎﺕ ﺍﻟﺴﻮﺭﻳﺔ ﺍﻟﺨﺎﺻﺔ‪.‬‬
‫}‪{7‬‬
‫‪ 6. 1. 2‬ﺩﺭﺍﺳﺔ ) ‪(Mohammed , 2010‬‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﻣﻌﺮﻓﺔ ﺩﻭﺭ ﺍﻟﺮﻗﺎﺑﺔ ﺍﻟﺪﺍﺧﻠﻴﺔ ﻓﻲ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻣﺪﻯ‬
‫ﻓﻌﺎﻟﻴﺘﻬﺎ ﻓﻲ ﺍﺳﺘﺨﺪﺍﻡ ﺍﻟﻤﻮﺍﺭﺩ ﺍﻟﻤﺘﺎﺣﺔ ﻭﺍﻟﻤﺤﺎﻓﻈﺔ ﻋﻠﻰ ﺃﺻﻮﻝ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﻭﺗﺤﺪﻳﺪ ﺍﻟﻤﺸﺎﻛﻞ ﺍﻟﺘﻲ ﻭﺍﺟﻬﺖ ﺃﻧﻈﻤﺔ ﺍﻟﺮﻗﺎﺑﺔ ﺍﻟﺪﺍﺧﻠﻴﺔ ﻭﻓﺮﺿﺖ ﻗﻴﻮﺩ ﻋﻠﻰ‬
‫ﻛﻔﺎءﺗﻬﺎ ﺑﺎﻟﺘﻄﺒﻴﻖ ﻋﻠﻰ ﺷﺮﻛﺔ ﺳﻜﺮ ﻛﻨﺎﻧﺔ ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺇﻥ ﺍﻟﺮﻗﺎﺑﺔ‬
‫ﺍﻟﺪﺍﺧﻠﻴﺔ ﻟﻬﺎ ﺩﻭﺭ ﻣﻠﻤﻮﺱ ﻓﻲ ﺯﻳﺎﺩﺓ ﺍﻹﻧﺘﺎﺟﻴﺔ ﻭﺗﺤﻘﻴﻖ ﺍﻟﺮﺑﺤﻴﺔ ﺣﻴﺚ ﻋﺪﻡ‬
‫ﻭﺟﻮﺩ ﺭﻗﺎﺑﺔ ﺩﺍﺧﻠﻴﺔ ﻭﻣﺮﺍﺟﻌﺔ ﺩﻭﺭﻳﺔ ﻳﺆﺩﻱ ﺇﻟﻰ ﺿﻌﻒ ﺍﻷﺩﺍء ﻭﺍﻟﻜﻔﺎءﺓ‪.‬‬
‫}‪{8‬‬
‫‪ 7. 1. 2‬ﺩﺭﺍﺳﺔ ) ﺧﻄﺎﺏ ﻭﺍﻟﺴﻴﺪ ‪2012 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﻟﻮﺿﻊ ﺇﻁﺎﺭ ﻳﺒﻴﻦ ﻣﺪﻯ ﺇﻣﻜﺎﻧﻴﺔ ﺗﻔﻌﻴﻞ ﺍﻟﺪﻭﺭ ﺍﻟﺬﻱ ﺗﻘﻮﻡ ﺑﻪ‬
‫ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﺍﺳﺘﺨﺪﺍﻡ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺍﺧﺘﺒﺎﺭ‬
‫ﻫﺬﺍ ﺍﻹﻁﺎﺭ ﻋﻠﻰ ﺑﻌﺾ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺴﻌﻮﺩﻳﺔ ‪ ،‬ﻭﺃﻅﻬﺮﺕ ﻧﺘﺎﺋﺞ ﺍﻟﺪﺭﺍﺳﺔ ﻭﺟﻮﺩ‬
‫ﻣﻤﺎﺭﺳﺎﺕ ﻷﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺘﻲ ﺗﻌﻤﻞ ﻓﻲ ﺍﻟﻤﻤﻠﻜﺔ‬
‫ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ﻭﻭﺟﻮﺩ ﻋﻼﻗﺔ ﻣﻌﻨﻮﻳﺔ ﻟﻺﻁﺎﺭ ﺍﻟﻤﻘﺘﺮﺡ ﻟﻠﺮﺑﻂ ﺑﻴﻦ ﻣﺒﺎﺩﺉ‬
‫ﺍﻟﺤﻮﻛﻤﺔ ﻭﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﻳﺴﺎﻋﺪ ﻫﺬﺍ ﺍﻹﻁﺎﺭ ﻓﻲ ﺗﺤﺠﻴﻢ‬
‫ﺍﺳﺘﺨﺪﺍﻣﻬﺎ ‪.‬‬
‫}‪{9‬‬
‫‪ 8. 1. 2‬ﺩﺭﺍﺳﺔ ) ﺭﻳﺤﺎﻭﻱ ‪2012 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﺍﻳﺠﺎﺑﻴﺔ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻛﻴﻔﻴﺔ ﺍﻻﺳﺘﻔﺎﺩﺓ‬
‫ﻣﻨﻬﺎ ﻓﻲ ﺗﺤﺴﻴﻦ ﻭﺍﻹﻓﺼﺎﺡ ﻋﻦ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻟﻐﺮﺽ ﺇﻋﺎﺩﺓ ﺍﻟﺜﻘﺔ‬
‫ﻓﻴﻬﺎ ﻭﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﺍﻟﺒﻴﺎﻧﺎﺕ ﻭﺍﻟﻤﻌﻮﻣﺎﺕ ﺍﻟﺘﻲ ﺗﻮﻓﺮﻫﺎ ﺍﻷﺳﻮﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻟﺨﺪﻣﺔ‬
‫ﺍﻟﻤﺴﺘﺜﻤﺮﻳﻦ ﺍﻟﺤﺎﻟﻴﻴﻦ ﻭﺍﻟﻤﺮﺗﻘﺒﻴﻦ ﻋﻨﺪ ﺍﺗﺨﺎﺫ ﻗﺮﺍﺭ ﺍﻻﺳﺘﺜﻤﺎﺭ ﻓﻲ ﺍﻷﻭﺭﺍﻕ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ‪ ،‬ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﻣﺴﺘﻮﻯ ﺍﻹﻓﺼﺎﺡ ﺍﻟﻤﺎﻟﻲ ﻓﻲ ﺳﻮﺭﻳﺎ ﻣﺮﺗﻔﻊ‬
‫ﻧﺴﺒﻴﺎ ً ‪ ،‬ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻜﺒﻴﺮﺓ ﺃﻛﺜﺮ ﺇﻓﺼﺎﺣﺎ ﻣﻦ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺼﻐﻴﺮﺓ ﻭﺍﻥ ﻗﻄﺎﻉ‬
‫ﺍﻟﺒﻨﻮﻙ ﺍﻷﻛﺜﺮ ﺇﻓﺼﺎﺣﺎ ﻣﻘﺎﺭﻧﺔ ﺑﺎﻟﻘﻄﺎﻋﺎﺕ ﺍﻷﺧﺮﻯ‪.‬‬
‫}‪{10‬‬
‫‪ 9. 1. 2‬ﺩﺭﺍﺳﺔ )ﺍﻟﺤﺎﺝ ‪2012 ،‬ﻡ(‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺩﺭﺍﺳﺔ ﻭﺗﺤﻠﻴﻞ ﻣﻔﻬﻮﻡ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭ ﻣﻔﻬﻮﻡ ﻓﺠﻮﺓ‬
‫ﺍﻟﺘﻮﻗﻌﺎﺕ ﻓﻲ ﺍﻟﻤﺮﺍﺟﻌﺔ ﻭﺑﻴﺎﻥ ﺩﻭﺭ ﺁﻟﻴﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﻣﺤﺎﻭﻟﺔ‬
‫ﺗﻀﻴﻴﻖ ﺗﻠﻚ ﺍﻟﻔﺠﻮﺓ‪ .‬ﺗﻢ ﺇﺗﺒﺎﻉ ﻛﻼ ﻣﻦ ﺍﻟﻤﻨﻬﺞ ﺍﻟﺘﺎﺭﻳﺨﻲ ﻭﺍﻻﺳﺘﻨﺒﺎﻁﻲ‬
‫ﻭﺍﻻﺳﺘﻘﺮﺍﺋﻲ ﻭﺍﻟﻮﺻﻔﻲ ﻭﻟﻐﺮﺽ ﺟﻤﻊ ﺍﻟﺒﻴﺎﻧﺎﺕ ﻣﻴﺪﺍﻧﻴﺎ ً ﺗﻢ ﺇﻋﺪﺍﺩ ﻭﺗﻮﺯﻳﻊ‬
‫ﺍﺳﺘﺒﺎﻧﻪ ﻟﻠﻔﺌﺔ ﺍﻟﻤﺴﺘﻬﺪﻓﺔ ﻣﻦ ﺍﻟﻤﺮﺍﺟﻌﻴﻦ ﻭﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ‪ ،‬ﻭﺗﻮﺻﻠﺖ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺃﻥ ﺍﺳﺘﻘﻼﻝ ﻭﻗﻮﺓ ﻧﻈﺎﻡ ﺍﻟﺮﻗﺎﺑﺔ ﺍﻟﺪﺍﺧﻠﻴﺔ ﺩﺍﺧﻞ ﺍﻟﺸﺮﻛﺔ ﻭﺗﺄﻫﻴﻞ‬
‫ﻭﺗﺪﺭﻳﺐ ﺍﻟﻌﺎﻣﻠﻴﻦ ﻓﻴﻬﺎ ﻭﺍﻟﺘﺰﺍﻡ ﺇﺩﺍﺭﺓ ﺍﻟﺸﺮﻛﺔ ﺑﺘﻄﺒﻴﻖ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﻭﺍﻟﻤﺮﺍﺟﻌﺔ ﻭﺍﺳﺘﻘﻼﻝ ﻣﺮﺍﻗﺐ ﺍﻟﺤﺴﺎﺑﺎﺕ ﻓﻲ ﺍﻟﺸﺮﻛﺔ ﺳﺎﻋﺪ ﻓﻲ ﺗﻀﻴﻴﻖ ﻓﺠﻮﺓ‬
‫ﺍﻟﺘﻮﻗﻌﺎﺕ ﻓﻲ ﺍﻟﻤﺮﺍﺟﻌﺔ‪.‬‬
‫}‪{11‬‬
‫‪ 10. 1. 2‬ﺩﺭﺍﺳﺔ )‪(Joshua, Joshua and Tauhid , 2013‬‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺗﻘﻴﻴﻢ ﺃﺛﺮ ﺗﻄﺒﻴﻖ ﻣﺒﺎﺩﺉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺃﺩﺍء ﺇﻳﺪﺍﻉ‬
‫ﺍﻷﻣﻮﺍﻝ ﻓﻲ ﺍﻟﺒﻨﻮﻙ ﺍﻟﻨﻴﺠﻴﺮﻳﺔ ﺑﺎﺳﺘﺨﺪﺍﻡ ﻣﺠﻤﻞ ﺍﻷﺭﺑﺎﺡ‪ ،‬ﻭﺍﻟﺮﺑﺢ ﺑﻌﺪ ﺍﻟﻀﺮﻳﺒﺔ‬
‫ﻭﺻﺎﻓﻲ ﺍﻷﺻﻮﻝ ﻭﻓﻌﺎﻟﻴﺔ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﻋﻼﻗﺘﻬﺎ ﺑﻬﻴﻜﻞ ﻣﺠﻠﺲ‬
‫ﺍﻹﺩﺍﺭﺓ ﻭﻛﻴﻔﻴﺔ ﺗﺄﺛﻴﺮﻫﺎ ﻋﻠﻰ ﺍﻷﺩﺍء ﺍﻟﻤﺎﻟﻲ ﻟﻠﺸﺮﻛﺔ ﺧﺎﺻﺔ ﺇﻳﺪﺍﻉ ﺍﻷﻣﻮﺍﻝ ﻓﻲ‬
‫ﺍﻟﺒﻨﻮﻙ ﺑﺎﻟﺘﻄﺒﻴﻖ ﻋﻠﻰ ﻋﻴﻨﺔ ﻣﻦ ﺍﻟﺒﻨﻮﻙ ﻓﻲ ﻧﻴﺠﺮﻳﺎ ‪ ،‬ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ‬
‫ﺃﻧﻪ ﻻ ﻳﻮﺟﺪ ﺗﺄﺛﻴﺮ ﻛﺒﻴﺮ ﻋﻠﻰ ﺇﻳﺪﺍﻉ ﺍﻷﻣﻮﺍﻝ ﻓﻲ ﺍﻟﺒﻨﻮﻙ ﺍﻟﻨﻴﺠﻴﺮﻳﺔ ﻣﻦ ﺣﻴﺚ‬
‫ﻣﺠﻤﻞ ﺍﻷﺭﺑﺎﺡ ﻭﺍﻟﺮﺑﺢ ﺑﻌﺪ ﺍﻟﻀﺮﻳﺒﺔ ﻭﺍﻷﺻﻮﻝ ﻭﺑﺎﻟﺘﺎﻟﻲ ﻋﺪﻡ ﻭﺟﻮﺩ ﻋﻼﻗﺔ‬
‫ﺫﺍﺕ ﺩﻻﻟﺔ ﺇﺣﺼﺎﺋﻴﺔ ﺑﻴﻦ ﻫﻴﻜﻞ ﻣﺠﻠﺲ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻷﺩﺍء ﺍﻟﻤﺎﻟﻲ‪.‬‬
‫‪ 2.2‬ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺘﻲ ﺗﻨﺎﻭﻟﺖ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫}‪{12‬‬
‫‪ 1.2.2‬ﺩﺭﺍﺳﺔ )‪(Gowthorpe and Amat, 2005‬‬
‫ﻫﺪﻓﺖ ﻫﺬﻩ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺗﺤﻠﻴﻞ ﻧﻮﻋﻴﻦ ﺭﺋﻴﺴﻴﻴﻦ ﻣﻦ ﺃﻧﻮﺍﻉ ﺳﻠﻮﻙ ﺍﻟﺘﻼﻋﺐ‬
‫ﻣﻦ ﻣﻨﻈﻮﺭ ﺃﺧﻼﻗﻲ ﻭﻫﻤﺎ ﺍﻟﺘﻼﻋﺐ ﺍﻟﻜﻠﻲ )‪(Macro-manipulation‬‬
‫ﻟﺘﺄﺛﻴﺮ ﺟﻤﺎﻋﺔ ﺍﻟﻀﻐﻂ ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ ﻟﻠﺘﺄﺛﻴﺮ ﻓﻲ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻟﺼﺎﻟﺢ‬
‫ﻣﻌﺪﻳﻬﺎ ﻭﺍﻟﺘﻼﻋﺐ ﺍﻟﺠﺰﺋﻲ )‪ (Micro-manipulation‬ﻟﻴﻌﺒﺮ ﻋﻦ ﻣﻌﺎﻟﺠﺔ‬
‫ﺍﻷﺭﻗﺎﻡ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻟﺼﺎﻟﺢ ﺍﻟﺸﺮﻛﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻻﺳﺒﺎﻧﻴﺔ ﻭﺗﻮﺻﻠﺖ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺇﻟﻰ ﺃﻥ ﺍﻟﺘﻼﻋﺐ ﺳﻮﺍء ﻛﺎﻥ ﻛﻠﻲ ﺃﻭ ﺟﺰﺋﻲ ﻫﻮ ﻣﺤﺎﻭﻟﺔ ﻣﻦ ﻣﻌﺪﻱ ﺍﻟﻘﻮﺍﺋﻢ‬
‫‪66‬‬ ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬
‫ﻟﻠﺤﺼﻮﻝ ﻋﻠﻰ ﺗﻌﻮﻳﺾ ﻓﻌﻠﻲ ﻓﻲ ﺣﺎﻟﺔ ﺍﻧﺘﻬﺎﻙ ﺣﻘﻮﻗﻬﻢ ‪.‬‬
‫‪ 3.2.3‬ﺍﻟﻤﺒﺪﺃ ﺍﻟﺜﺎﻟﺚ ﺃﺛﺮ ﺃﺻﺤﺎﺏ ﺍﻟﻤﺼﺎﻟﺢ ﻓﻲ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺑﺨﺼﻮﺹ ﺃﺛﺮ ﺃﺻﺤﺎﺏ ﺍﻟﻤﺼ ﺎﻟﺢ ﻳﺠ ﺐ ﺃﻥ ﻳﻨﻄ ﻮﻱ ﺇﻁ ﺎﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﻋﻠ ﻰ ﺍﻻﻋﺘ ﺮﺍﻑ ﺑﺤﻘ ﻮﻕ ﺃﺻ ﺤﺎﺏ ﺍﻟﻤﺼ ﻠﺤﺔ ﺣﺴ ﺐ ﺍﻟﻘ ﺎﻧﻮﻥ ﻭﺍﻥ ﻳﻌﻤ ﻞ ﻋﻠ ﻰ‬
‫ﺗﺸﺠﻴﻊ ﺍﻟﺘﻌﺎﻭﻥ ﺑﻴﻨﻬﻢ ﻭﺑﻴﻦ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﻣﺠ ﺎﻝ ﺧﻠ ﻖ ﺍﻟﺜ ﺮﻭﺓ ﻭﻓ ﺮﺹ ﺍﻟﻌﻤ ﻞ‬
‫ﻭﺗﺤﻘﻴﻖ ﺍﻻﺳﺘﺪﺍﻣﺔ ﻟﻠﻤﺸﺮﻭﻋﺎﺕ ﺍﻟﻘﺎﺋﻤﺔ ﻋﻠﻰ ﺃﺳﺲ ﺳﻠﻴﻤﺔ ‪.‬‬
‫‪ 4.2.3‬ﺍﻟﻤﺒﺪﺃ ﺍﻟﺮﺍﺑﻊ ﺍﻹﻓﺼﺎﺡ ﻭﺍﻟﺸﻔﺎﻓﻴﺔ‬
‫ﻻﺑﺪ ﺃﻥ ﻳﻜﻔﻞ ﺍﻹﻁﺎﺭ ﺗﺤﻘﻴﻖ ﺍﻹﻓﺼﺎﺡ ﺍﻟﺪﻗﻴﻖ ﻭﻓﻲ ﺍﻟﻮﻗﺖ ﺍﻟﻤﻨﺎﺳﺐ ﺑﺸﺄﻥ ﻛﺎﻓ ﺔ‬
‫ﺍﻟﻤﺴﺎﺋﻞ ﺍﻟﻤﺘﺼﻠﺔ ﺑﺘﺄﺳﻴﺲ ﺍﻟﺸﺮﻛﺔ ﻭﻣﻦ ﺑﻴﻨﻬﺎ ﺍﻟﻤﻮﻗﻒ ﺍﻟﻤﺎﻟﻲ ﻭﺍﻷﺩﺍء ﻭﺍﻟﻤﻠﻜﻴﺔ‬
‫ﻭﺃﺳﻠﻮﺏ ﻣﻤﺎﺭﺳﺔ ﺍﻹﺩﺍﺭﺓ‬
‫‪ 5.2.3‬ﺍﻟﻤﺒﺪﺃ ﺍﻟﺨﺎﻣﺲ ﻣﺴﺆﻭﻟﻴﺎﺕ ﻣﺠﻠﺲ ﺍﻹﺩﺍﺭﺓ‬
‫ﻻﺑ ﺪ ﺃﻥ ﻳﺘ ﻴﺢ ﺍﻹﻁ ﺎﺭ ﺍﻟﺨﻄ ﻮﻁ ﺍﻹﺭﺷ ﺎﺩﻳﺔ ﺍﻹﺳ ﺘﺮﺍﺗﻴﺠﻴﺔ ﻟﺘﻮﺟﻴ ﻪ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﻭﻳﻜﻔﻞ ﺍﻟﻤﺘﺎﺑﻌﺔ ﺍﻟﻔﻌﺎﻟ ﺔ ﻟ ﻺﺩﺍﺭﺓ ﺍﻟﺘﻨﻔﻴﺬﻳ ﺔ ﻣ ﻦ ﻗﺒ ﻞ ﻣﺠﻠ ﺲ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻥ ﻳﻀ ﻤﻦ‬
‫ﻣﺴﺎءﻟﺔ ﻣﺠﻠﺲ ﺍﻹﺩﺍﺭﺓ ﻣﻦ ﻗﺒﻞ ﺍﻟﺸﺮﻛﺔ ﻭﺍﻟﻤﺴﺎﻫﻤﻴﻦ ‪.‬‬
‫ﻳ ﺮﻯ ﺍﻟﺒﺎﺣ ﺚ ﻣ ﻦ ﺧ ﻼﻝ ﻋ ﺮﺽ ﺍﻟﻤﺒ ﺎﺩﺉ ﺍﻟﺘ ﻲ ﺃﻋ ﺪﺗﻬﺎ ﻣﻨﻈﻤ ﺔ ﺍﻟﺘﻌ ﺎﻭﻥ‬
‫ﺍﻻﻗﺘﺼ ﺎﺩﻱ ﻭﺍﻟﺘﻨﻤﻴ ﺔ ﺑﺸ ﺄﻥ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﺗﻮﺿ ﺢ ﺇﻁ ﺎﺭ ﺇﺭﺷ ﺎﺩﻱ ﻣﻬ ﻢ‬
‫ﻟﻠﻌﻤﻞ ﺑﻪ ﻳﺤﺪﺩ ﺍﻟﻮﺍﺟﺒﺎﺕ ﻭﺍﻟﻤﺴ ﺆﻭﻟﻴﺎﺕ ﻟﻠﺸ ﺮﻛﺔ ﻭﺍﻷﻁ ﺮﺍﻑ ﺫﺍﺕ ﺍﻟﻌﻼﻗ ﺔ ﺑﻬ ﺎ‬
‫ﺑﻤﺎ ﻳﻀﻤﻦ ﺃﺳﺲ ﺳﻠﻴﻤﺔ ﻟﺘﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﺍﻟﺮﺷﻴﺪﺓ ‪.‬‬
‫‪ 3.3‬ﺃﻫﺪﺍﻑ ﻭﻧﺘﺎﺋﺞ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺗﻌﻮﺩ ﺃﻫﺪﺍﻑ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ }‪ {23‬ﺇﻟﻰ ‪:‬‬
‫‪ -1‬ﺣﻤﺎﻳﺔ ﺣﻘﻮﻕ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﺣﻴﺚ ﻳﺘﻢ ﺍﻻﺣﺘﻔﺎﻅ ﺑﺴﺠﻼﺕ ﻣﻠﻜﻴﺔ ﺍﻷﺳﻬﻢ‬
‫ﻭﺍﻟﺸﻔﺎﻓﻴﺔ ﻓﻲ ﺍﻟﺤﺼﻮﻝ ﻋﻠﻰ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﻓﻲ ﺍﻟﻮﻗﺖ ﺍﻟﻤﻨﺎﺳﺐ ﻭﺿﻤﺎﻥ‬
‫ﺣﻘﻮﻕ ﺍﻟﻤﺴﺎﻫﻢ ﻭﺣﻘﻪ ﻓﻲ ﺍﻻﻧﺘﺨﺎﺏ ﻭﻓﻲ ﺣﺼﻮﻟﻪ ﻋﻠﻰ ﺣﺼﺔ ﻣﻦ‬
‫ﺍﻷﺭﺑﺎﺡ ﺍﻟﺴﻨﻮﻳﺔ ﻭ ﺗﺤﻘﻴﻖ ﺍﻟﻌﺪﺍﻟﺔ ﺣﻴﺚ ﻳﻌﺘﺮﻑ ﺑﺤﻘﻮﻕ ﺟﻤﻴﻊ ﺍﻷﻁﺮﺍﻑ‬
‫ﺫﺍﺕ ﺍﻟﻤﺼﺎﻟﺢ ﺑﺎﻟﺸﺮﻛﺔ ﻭﻋﻠﻰ ﻧﺤﻮ ﻳﻀﻤﻦ ﺗﺤﻘﻴﻖ ﺍﻟﻌﺪﺍﻟﺔ ﻭﺍﻟﻤﺴﺎﻭﺍﺓ‬
‫ﺑﻴﻦ ﻛﺎﻓﺔ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﺩﺍﺧﻞ ﺃﻭ ﺧﺎﺭﺝ ﺍﻟﺸﺮﻛﺔ ﻋﻠﻰ ﺍﻟﺴﻮﺍء‪.‬‬
‫‪ -2‬ﺣﻤﺎﻳﺔ ﻣﺼﺎﻟﺢ ﺍﻷﻁﺮﺍﻑ ﺍﻟﻤﺨﺘﻠﻔﺔ ﺫﺍﺕ ﺍﻟﻌﻼﻗﺔ ﺑﺎﻟﺸﺮﻛﺔ ﻣﻤﺎ ﻳﺘﻄﻠﺐ‬
‫ﺧﻠﻖ ﺭﻭﺡ ﺍﻻﻧﺘﻤﺎء ﻭﺍﻟﻮﻻء ﻟﻠﻤﺘﻌﺎﻣﻠﻴﻦ ﻣﻊ ﺍﻟﺸﺮﻛﺔ ﻭﺃﻭﻟﻬﻢ ﺍﻟﻌﺎﻣﻠﻴﻦ ﺑﻬﺎ‬
‫ﻭ ﺗﻮﻓﻴﺮ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﻭﺩﻋﻢ ﺳﻼﻣﺔ ﻗﻨﻮﺍﺕ ﺍﻻﺗﺼﺎﻝ ﺣﻴﺚ ﺗﻮﻓﻴﺮ‬
‫ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﻭ ﺍﻟﺤﻘﺎﺋﻖ ﺍﻟﺨﺎﺻﺔ ﺑﻌﻤﻞ ﺍﻟﺸﺮﻛﺔ ﻋﻠﻰ ﻧﺤﻮ ﺩﻗﻴﻖ ﻭﻣﻼﺋﻢ‬
‫ﻟﺠﻤﻴﻊ ﺍﻷﻁﺮﺍﻑ ﺫﺍﺕ ﺍﻟﻌﻼﻗﺔ ﻳﻌﻜﺲ ﺻﺤﺔ ﺍﻟﺘﺤﻜﻢ ﺍﻟﻤﺆﺳﺴﻲ ﻓﻲ‬
‫ﺍﻟﺸﺮﻛﺔ ﻭﺳﻼﻣﺔ ﺃﻧﻈﻤﺔ ﺍﻟﺮﻗﺎﺑﺔ ﺳﻮﺍء ﺍﻟﺪﺍﺧﻠﻴﺔ ﺃﻭ ﺍﻟﺨﺎﺭﺟﻴﺔ ﻭﺗﻄﺒﻴﻖ‬
‫ﺍﻟﻘﻮﺍﻧﻴﻦ ﻭ ﺍﻟﻘﻮﺍﻋﺪ ﻛﻠﻬﺎ ﺗﺪﻋﻢ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻣﻤﺎ ﻳﻨﻌﻜﺲ ﻋﻠﻰ‬
‫ﺳﻼﻣﺔ ﻭﻛﻔﺎﻳﺔ ﻭﻓﻌﺎﻟﻴﺔ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺔ‪.‬‬
‫‪ -3‬ﺇﺳﺘﺮﺍﺗﻴﺠﻴﺔ ﺍﻟﺸﺮﻛﺔ ﺣﻴﺚ ﺗﻨﺘﻬﺞ ﺍﻟﺸﺮﻛﺔ ﻣﺠﻤﻮﻋﺔ ﻣﻦ ﺍﻻﺳﺘﺮﺍﺗﻴﺠﻴﺎﺕ‬
‫ﺑﻬﺪﻑ ﺍﻟﺒﻘﺎء ﻓﻲ ﺍﻟﺘﻨﺎﻓﺲ ﻭﺗﺤﻘﻴﻖ ﻣﻴﺰﺓ ﺗﻨﺎﻓﺴﻴﺔ ﻟﻬﺎ ﻣﻦ ﺧﻼﻝ ﺇﺿﺎﻓﺔ‬
‫ﻗﻴﻤﺔ ﻟﻬﺎ ﻓﻲ ﺍﻟﻘﻄﺎﻉ ﺃﻭ ﺍﻟﺴﻮﻕ ﺍﻟﺬﻱ ﺗﻌﻤﻞ ﻓﻴﻪ ‪ ،‬ﺣﻴﺚ ﻳﺘﻢ ﻣﻦ ﺧﻼﻟﻬﺎ‬
‫ﺍﻟﺘﻌﺮﻑ ﻋﻠﻰ ﻧﻘﺎﻁ ﺍﻟﻘﻮﺓ ﻭﺍﻟﻀﻌﻒ ﻓﻲ ﺍﻟﺸﺮﻛﺔ ﻭﻓﻌﺎﻟﻴﺘﻬﺎ ﻣﻊ ﺍﻟﻔﺮﺹ‬
‫ﻭﺍﻟﺘﻬﺪﻳﺪﺍﺕ ﺍﻟﺒﻴﺌﻴﺔ ﺑﺎﻋﺘﻤﺎﺩ ﻣﻨﻬﺞ ﺍﻟﺘﺤﻠﻴﻞ ﺍﻻﺳﺘﺮﺍﺗﻴﺠﻲ ‪.‬‬
‫‪ -4‬ﺇﺩﺍﺭﺓ ﺍﻟﻤﺨﺎﻁﺮ ﺍﻟﻤﺨﺘﻠﻔﺔ ﻭﺫﻟﻚ ﻣﻦ ﺧﻼﻝ ﺇﺩﺍﺭﺓ ﺫﺍﺕ ﻛﻔﺎءﺓ ﻭﻓﻌﺎﻝ‬
‫ﻟﻠﻤﺨﺎﻁﺮ ﺇﺿﺎﻓﺔ ﻟﻮﺟﻮﺩ ﻧﻈﺎﻡ ﺭﻗﺎﺑﺔ ﺩﺍﺧﻠﻴﺔ ﻳﻌﻤﻞ ﻣﻊ ﺍﻟﺘﻨﺴﻴﻖ ﻣﻊ‬
‫ﺍﻟﻤﺮﺍﺟﻊ ﺍﻟﺨﺎﺭﺟﻲ‪.‬‬
‫ﺇﻥ ﺍﻷﻫﺪﺍﻑ ﺍﻟﻤﺬﻛﻮﺭﺓ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺗﺰﻳﺪ ﻣﻦ ﻛﻔﺎءﺓ ﺍﻷﺩﺍء ﺍﻟﻤﺎﻟﻲ‬
‫ﻭﺍﻟﺘﺸﻐﻴﻠﻲ ﻟﻠﺸﺮﻛﺔ ﻭﺗﻌﺰﺯ ﺍﻟﺜﻘﺔ ﻓﻲ ﺗﻘﺎﺭﻳﺮﻫﺎ ﻭﻗﻮﺍﺋﻤﻬﺎ ﺍﻟﻤﺎﻟﻴﺔ ﻧﺘﻴﺠﺔ ﻟﻠﺴﻤﻌﺔ‬
‫ﺍﻟﺠﻴﺪﺓ ﺍﻟﺘﻲ ﺳﺘﺘﻤﺘﻊ ﺑﻬﺎ ﺍﻟﺸﺮﻛﺔ ﻓﻲ ﻣﺠﺘﻤﻌﻬﺎ ﻭﺳﻴﻨﻌﻜﺲ ﺫﻟﻚ ﺣﺘﻤﺎ ﻋﻠﻰ‬
‫ﺩﻭﺭﻫﺎ ﺍﻻﺟﺘﻤﺎﻋﻲ ﻭﻳﺠﻌﻞ ﻟﻬﺎ ﻣﻴﺰﺓ ﺗﻨﺎﻓﺴﻴﺔ ﻭﻳﻌﺰﺯ ﺛﻘﺔ ﺍﻟﻤﺴﺘﺜﻤﺮﻳﻦ ﻓﻴﻬﺎ‬
‫ﻭﻳﺤﻤﻴﻬﺎ ﻣﻦ ﺍﻷﺯﻣﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ‪ ،‬ﻭﻋﻠﻰ ﻣﺴﺘﻮﻯ ﺍﻟﺪﻭﻟﺔ ﻳﺴﺎﻋﺪ ﻓﻲ ﺿﺒﻂ ﺍﻟﻌﻤﻞ‬
‫ﻭﺍﻟﻤﺆﺳﺴﻴﺔ ﻭﺳﻼﻣﺔ ﺍﻷﺩﺍء ﻭﺍﻟﺤﻔﺎﻅ ﻋﻠﻰ ﻣﻮﺍﺭﺩ ﺍﻟﺪﻭﻟﺔ ﻭﺗﺮﺷﻴﺪ ﺍﻹﻧﻔﺎﻕ ‪.‬‬
‫‪ 4.3‬ﺃﻫﻤﻴﺔ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺗﺘﻤﺜﻞ ﺃﻫﻤﻴﺔ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺘﺎﻟﻲ}‪: {24‬‬
‫‪ -1‬ﺍﻟﺘﺄﻛﻴ ﺪ ﻋﻠ ﻰ ﺣﻤﺎﻳ ﺔ ﻣﺴ ﺆﻭﻟﻴﺎﺕ ﺍﻹﺩﺍﺭﺓ ﻭﺗﻌﺰﻳ ﺰ ﻣﺴ ﺎءﻟﺘﻬﺎ ﻭ ﺣﻤﺎﻳ ﺔ‬
‫ﺃﺻﻮﻝ ﺍﻟﺸﺮﻛﺔ ﻭﺣﻤﺎﻳﺔ ﺣﻘﻮﻕ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﻭﺃﺻﺤﺎﺏ ﺍﻟﻤﺼ ﺎﻟﺢ ﻭﺗﻌﺰﻳ ﺰ‬
‫ﺃﺛﺮﻫﻢ ﻓﻲ ﻣﺮﺍﻗﺒﺔ ﺍﻷﺩﺍء‪.‬‬
‫‪ -2‬ﺗﺤﺴ ﻴﻦ ﺇﺩﺍﺭﺓ ﺍﻟﺸ ﺮﻛﺔ ﻭﻗﻴﻤ ﺔ ﺃﺳ ﻬﻤﻬﺎ ﻭﺍﻟﻘﻴﻤ ﺔ ﺍﻻﻗﺘﺼ ﺎﺩﻳﺔ ﻟﻬ ﺎ ﺗﺤﺴ ﻴﻦ‬
‫ﺍﻟﻤﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﻹﺩﺍﺭﻳﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺔ ‪.‬‬
‫‪ -3‬ﺗﺤﻘﻴﻖ ﺍﻟﻌﺪﺍﻟﺔ ﻭﺍﻟﻨﺰﺍﻫﺔ ﻭﺍﻟﺸﻔﺎﻓﻴﺔ ﻓﻲ ﻛﻞ ﺗﻌﺎﻣﻼﺕ ﻭﻋﻤﻠﻴﺎﺕ ﺍﻟﺸﺮﻛﺔ ‪.‬‬
‫ﻛﻤﺎ ﺣﺪﺩﺕ ﺃﻫﻤﻴﺔ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻴﻤﺎ ﻳﻠﻲ}‪-: {25‬‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﻌﺎﻣﻠﺔ ﺍﻟﻤﺘﻜﺎﻓﺌﺔ ﻟﺠﻤﻴﻊ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﻭﻣﻦ ﺑﻴ ﻨﻬﻢ ﺻ ﻐﺎﺭ ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ‬
‫ﻭﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﺍﻷﺟﺎﻧ ﺐ ‪ ،‬ﻛﻤ ﺎ ﻳﺠ ﺐ ﺇﻥ ﺗﺘ ﺎﺡ ﺍﻟﻔﺮﺻ ﺔ ﻟﻜﺎﻓ ﺔ ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ‬
‫ﻫﺪﻓﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺩﺭﺍﺳﺔ ﺣﻘﻴﻘﻴﺔ ﻟﻠﺸﺮﻛﺎﺕ ﻭﺗﻮﺿﻴﺢ ﻧﻬﺞ ﻣﺴﺒﻖ ﻟﻠﻜﺸﻒ‬
‫ﻋﻦ ﻋﻤﻠﻴﺎﺕ ﻣﺨﺘﻠﻔﺔ ﻹﺩﺍﺭﺓ ﺍﻟﺤﺴﺎﺑﺎﺕ ﻣﻦ ﺧﻼﻝ ﻗﺮﺍءﺓ ﻭﺗﺤﻠﻴﻞ ﺍﻟﺒﻴﺎﻧﺎﺕ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﺘﻲ ﺗﻢ ﻛﺸﻔﻬﺎ ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﺼﻐﻴﺮﺓ ﻭﺍﻟﻤﺘﻮﺳﻄﺔ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺍﻟﺒﻮﺭﺻﺔ‬
‫ﺍﻟﻔﺮﻧﺴﻴﺔ‪،‬ﻭﻗﺪ ﺣﺪﺩﺕ ﺍﻟﺪﺭﺍﺳﺔ ﻣﺆﺷﺮﺍﺕ ﺍﻟﺘﻌﺪﻳﻼﺕ ﺍﻟﻤﺎﻟﻴﺔ ﻣﺘﻤﺜﻠﺔ ﻓﻲ ﺗﺤﺪﻳﺪ‬
‫ﺍﻻﻋﺘﺮﺍﻑ ﺍﻟﺨﺎﻁﺊ ﺑﺎﻹﻳﺮﺍﺩﺍﺕ ﻭﺗﺤﻮﻳﻞ ﺍﻟﻨﻔﻘﺎﺕ ﺍﻟﺠﺎﺭﻳﺔ ﺇﻟﻰ ﻓﺘﺮﺍﺕ ﻻﺣﻘﺔ‬
‫ﻭﺍﻟﻤﻐﺎﻻﺓ ﻓﻲ ﺍﻷﺻﻮﻝ ﻭﺗﻘﻠﻴﻞ ﻗﻴﻤﺔ ﺍﻻﻟﺘﺰﺍﻣﺎﺕ ‪ ،‬ﻭﺃﺷﺎﺭﺕ ﺍﻟﺪﺭﺍﺳﺔ ﺇﻟﻰ ﺃﻥ‬
‫ﺯﻳﺎﺩﺓ ﺍﻟﻤﻌﺎﻳﻴﺮ ﻭﺍﻟﻘﻮﺍﻋﺪ ﻭﺣﺪﻫﺎ ﻟﻴﺲ ﻛﺎﻓﻴﺎ ً ﻟﻮﺿﻊ ﺣﺪ ﻟﻬﺬﻩ ﺍﻟﻤﻤﺎﺭﺳﺎﺕ ﺑﻞ‬
‫ﻻﺑﺪ ﻣﻦ ﺗﻌﺰﻳﺰ ﺍﻟﻜﺸﻒ ﺍﻟﻤﺴﺒﻖ ﻭﺍﻟﺸﻚ ﻣﻦ ﻗﺒﻞ ﺍﻟﻤﺴﺘﺜﻤﺮﻳﻦ ﻻﻥ ﺍﻟﺮﻗﺎﺑﺔ‬
‫ﺍﻟﻤﻌﺘﺎﺩﺓ ﻟﻴﺴﺖ ﻓﻌﺎﻟﺔ ﺩﺍﺋﻤﺎ ً‪.‬‬
‫ﻓﻲ ﺿﻮء ﻋﺮﺽ ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺴﺎﺑﻘﺔ ﻳﺸﻴﺮ ﺍﻟﺒﺎﺣﺚ ﺇﻟﻰ ﺍﻟﻤﻼﺣﻈﺎﺕ ﺍﻵﺗﻴﺔ ‪:‬‬
‫‪-‬ﺇﻥ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻟﻬﺎ ﻋﻼﻗﺔ ﺍﻳﺠﺎﺑﻴﺔ ﺑﺎﻟﻘﻴﻤﺔ ﺍﻟﺴﻮﻗﻴﺔ ﻟﻠﺸﺮﻛﺔ‪.‬‬
‫‪-‬ﺗﺆﺩﻱ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺇﻟﻰ ﺯﻳﺎﺩﺓ ﺍﻟﺮﺑﺤﻴﺔ‪.‬‬
‫‪-‬ﻳﺘﻢ ﻣﻤﺎﺭﺳﺔ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻟﺘﺤﻘﻴﻖ ﺃﻫﺪﺍﻑ ﺷﺨﺼﻴﺔ ‪ ،‬ﻣﻤﺎ ﻳﺆﺛﺮ‬
‫ﻋﻠﻰ ﺍﺳﺘﻤﺮﺍﺭﻳﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﻤﺴﺘﻘﺒﻞ‪.‬‬
‫‪-‬ﻳﻨﺘﺞ ﻋﻦ ﻣﻤﺎﺭﺳﺔ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻗﻮﺍﺋﻢ ﻣﺎﻟﻴﺔ ﻻ ﺗﻨﻔﻊ ﺇﻻ ﻣﻌﺪﻳﻬﺎ‬
‫ﻭﺗﻀﻠﻞ ﻣﺴﺘﺨﺪﻣﻴﻬﺎ ﻭﺗﺆﺛﺮ ﻋﻠﻰ ﻗﺮﺍﺭﺍﺗﻬﻢ‪.‬‬
‫‪-‬ﺇﻥ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻟﻪ ﺩﻭﺭ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺍﻟﺤﺪ ﻣﻦ ﺁﺛﺎﺭﻫﺎ ﺍﻟﺴﺎﻟﺒﺔ‪.‬‬
‫ﺗﻨﺎﻭﻟﺖ ﺩﺭﺍﺳﺔ ﺍﻟﺒﺎﺣﺚ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺩﻭﺭﻩ ﻓﻲ ﻣﻤﺎﺭﺳﺔ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺎﻟﺘﺎﻟﻲ ﺭﺑﻄﺖ ﺍﻟﺪﺭﺍﺳﺔ ﺑﻴﻦ ﻣﻮﺿﻮﻉ ﺍﻟﺤﻮﻛﻤﺔ ﻭﺑﻴﻦ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺎﻹﺿﺎﻓﺔ ﻟﻠﺘﻌﺮﺽ ﺇﻟﻰ ﺗﺠﺮﺑﺔ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺴﻮﺩﺍﻥ ‪،‬‬
‫ﺑﻴﻨﻤﺎ ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﺴﺎﺑﻘﺔ ﺍﻟﺘﻲ ﻋﺮﺿﻬﺎ ﺍﻟﺒﺎﺣﺚ ﺑﻌﻀﻬﺎ ﺗﻨﺎﻭﻝ ﺣﻮﻛﻤﺔ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻭﺍ ﻟﺒﻌﺾ ﺍﻵﺧﺮ ﺗﻨﺎﻭﻝ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﻟﻢ ﺗﺮﺑﻂ ﺃﻱ ﻣﻦ ﻫﺬﻩ‬
‫ﺍﻟﺪﺭﺍﺳﺎﺕ ﺑﺎﻟﻤﻮﺿﻮﻋﻴﻦ ﻣﻌﺎ ﻓﻴﻤﺎ ﻋﺪﺍ ﺩﺭﺍﺳﺔ ﺍﻷﻏﺎ )‪2011‬ﻡ( ﻭﺍﻟﺘﻲ ﻁﺒﻘﺖ‬
‫ﻋﻠﻰ ﺍﻟﻤﺼﺎﺭﻑ ﻓﻲ ﻓﻠﺴﻄﻴﻦ ﺑﻴﻨﻤﺎ ﺩﺭﺍﺳﺔ ﺍﻟﺒﺎﺣﺚ ﻁﺒﻘﺖ ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺍﻟﻌﺎﻣﺔ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‪.‬‬
‫‪.3‬ﺍﻹﻁﺎﺭ ﺍﻟﻌﺎﻡ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﻳﺘﻀ ﻤﻦ ﺍﻹﻁ ﺎﺭ ﺍﻟﻌ ﺎﻡ ﻟﺤﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻛ ﻞ ﻣ ﻦ ﻣﻔﻬ ﻮﻡ ﻭﻣﺒ ﺎﺩﺉ ﻭﺃﻫ ﺪﺍﻑ‬
‫ﻭﻧﺘﺎﺋﺞ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﻫﻤﻴﺘﻬﺎ ﻭﻋﻼﻗﺘﻬﺎ ﺑﺠﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪.‬‬
‫‪ 1.3‬ﻣﻔﻬﻮﻡ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﻻ ﻳﻮﺟﺪ ﺗﻌﺮﻳ ﻒ ﻣﺤ ﺪﺩ ﺍﺗﻔ ﻖ ﻋﻠﻴ ﻪ ﺍﻟﺒ ﺎﺣﺜﻮﻥ ﻟﻤﻔﻬ ﻮﻡ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ‪ ،‬ﻓﻘ ﺪ‬
‫ﻋﺮُﻓﺖ ﺑﺄﻧﻬﺎ ﻣﻔﻬﻮﻡ ﻳﺸﻴﺮ ﺇﻟﻰ ﺍﻟﻘﻮﺍﻧﻴﻦ ﻭﺍﻟﻘﻮﺍﻋﺪ ﻭﺍﻟﻤﻌﺎﻳﻴﺮ ﺍﻟﺘﻲ ﺗﺤﺪﺩ ﺍﻟﻌﻼﻗﺔ‬
‫ﺑ ﻴﻦ ﺇﺩﺍﺭﺓ ﺍﻟﺸ ﺮﻛﺔ ﻣ ﻦ ﺟﻬ ﺔ ﻭﺑ ﻴﻦ ﺣﻤﻠ ﺔ ﺍﻷﺳ ﻬﻢ ﻭﺃﺻ ﺤﺎﺏ ﺍﻟﻤﺼ ﺎﻟﺢ ﺃﻭ‬
‫ﺍﻷﻁ ﺮﺍﻑ ﺍﻟﻤﺮﺗﺒﻄ ﺔ ﺑﺎﻟﺸ ﺮﻛﺔ ﻣ ﻦ ﺣﻤﻠ ﺔ ﺍﻟﺴ ﻨﺪﺍﺕ ﻭﺍﻟﻌﻤ ﺎﻝ ﻭﺍﻟ ﺪﺍﺋﻨﻴﻦ‬
‫ﻭﺍﻟﻤﻮﺭﺩﻳﻦ ﻭﺍﻟﻤﺴﺘﻬﻠﻜﻴﻦ ﻣﻦ ﺟﻬﺔ ﺃﺧﺮﻯ }‪ ،{20‬ﻛﻤﺎ ﻋﺮﻓﺖ }‪ {21‬ﺑﺄﻧﻬ ﺎ ﻧﻈ ﺎﻡ‬
‫ﺷ ﺎﻣﻞ ﻳﺘﻀ ﻤﻦ ﻣﻘ ﺎﻳﻴﺲ ﺃﺩﺍء ﺍﻹﺩﺍﺭﺓ ﺍﻟﺠﻴ ﺪ ﻭﻣﺆﺷ ﺮﺍﺕ ﺣ ﻮﻝ ﻭﺟ ﻮﺩ ﺃﺳ ﺎﻟﻴﺐ‬
‫ﺭﻗﺎﺑﻴ ﺔ ﺗﻤﻨ ﻊ ﺃﻱ ﻣ ﻦ ﺍﻷﻁ ﺮﺍﻑ ﺫﺍﺕ ﺍﻟﻌﻼﻗ ﺔ ﺑﺎﻟﻤﻨﺸ ﺄﺓ ﺩﺍﺧﻠﻴ ﺔ ﺃﻡ ﺧﺎﺭﺟﻴ ﺔ ﻣ ﻦ‬
‫ﺍﻟﺘ ﺄﺛﻴﺮ ﺑﺼ ﻔﺔ ﺳ ﻠﺒﻴﺔ ﻋﻠ ﻰ ﺃﻧﺸ ﻄﺘﻬﺎ ﻭﺑﺎﻟﺘ ﺎﻟﻲ ﺿ ﻤﺎﻥ ﺍﻣﺜ ﻞ ﺍﺳ ﺘﺨﺪﺍﻡ ﻟﻠﻤ ﻮﺍﺭﺩ‬
‫ﺍﻟﻤﺘﺎﺣ ﺔ ﺑﻤ ﺎ ﻳﺨ ﺪﻡ ﻣﺼ ﺎﻟﺢ ﺟﻤﻴ ﻊ ﺍﻷﻁ ﺮﺍﻑ ﺑﻄﺮﻳﻘ ﺔ ﻋﺎﺩﻟ ﺔ ﺗﺤﻘ ﻖ ﺍﻷﺛ ﺮ‬
‫ﺍﻻﻳﺠﺎﺑﻲ ﻟﻠﻤﻨﺸﺄﺓ ﻟﺼﺎﻟﺢ ﻣﻼﻛﻬﺎ ﻭﻟﻠﻤﺠﺘﻤﻊ ﻛﻜﻞ ‪.‬‬
‫ﻳﺮﻯ ﺍﻟﺒﺎﺣﺚ ﺇﻥ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺗﻌﺘﺒﺮ ﻣﻔﻬﻮﻣﺎ ﺷﺎﻣﻼ ﻳﺘﻀﻤﻦ ﻣﺠﻤﻮﻋﺔ ﻣﻦ‬
‫ﺍﻟ ﻨﻈﻢ ﻭﺍﻟﻤﻌ ﺎﻳﻴﺮ ﻭﺍﻟﻘﻮﺍﻋ ﺪ ﻭﺍﻹﺟ ﺮﺍءﺍﺕ ﺍﻟﺘ ﻲ ﻳﻤﻜ ﻦ ﺇﺗﺒﺎﻋﻬ ﺎ ﺑﻬ ﺪﻑ ﺗﻘﻨ ﻴﻦ ﻭ‬
‫ﺗﻨﻈﻴﻢ ﺍﻟﻌﻼﻗﺔ ﺑﻴﻦ ﺇﺩﺍﺭﺓ ﺍﻟﺸﺮﻛﺔ ﻭﺑﻴﻦ ﻛﺎﻓﺔ ﺍﻟﺠﻬ ﺎﺕ ﺫﺍﺕ ﺍﻟﺼ ﻠﺔ ﺍﻟﺘ ﻲ ﺗﺘﻌﺎﻣ ﻞ‬
‫ﻣﻌﻬﺎ ﻋﻠﻰ ﺍﻟﻨﺤﻮ ﺍﻟﺬﻱ ﻳﺤﻤﻲ ﻭﻳﺤﺎﻓﻆ ﻋﻠﻰ ﺍﻟﺤﻘﻮﻕ ﻭﻳﺆﺩﻱ ﺍﻟﻮﺍﺟﺒﺎﺕ‬
‫‪ 2.3‬ﻣﺒﺎﺩﺉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺣﺪﺩﺕ ﻣﻨﻈﻤﺔ ﺍﻟﺘﻌﺎﻭﻥ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻟﺘﻨﻤﻴـﺔ )‪ (OECD‬ﻓﻲ ﻋﺎﻡ ‪2005‬ﻡ‬
‫}‪{22‬‬
‫ﻋﺪﺓ ﻣﺒﺎﺩﺉ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺗﺘﻤﺜﻞ ﻓﻲ ﺍﻟﺘﺎﻟﻲ ‪:‬‬
‫‪ 1.2.3‬ﺍﻟﻤﺒﺪﺃ ﺍﻷﻭﻝ ﺣﻘﻮﻕ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ‬
‫ﻭﻳﺸﻴﺮ ﻣﺒﺪﺃ ﺣﻘﻮﻕ ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﺇﻟ ﻰ ﺃﻥ ﻳﻜﻔ ﻞ ﺇﻁ ﺎﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﺣﻤﺎﻳ ﺔ‬
‫ﺣﻘ ﻮﻕ ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﻭﺗ ﺎﻣﻴﻦ ﺃﺳ ﺎﻟﻴﺐ ﺗﺴ ﺠﻴﻞ ﺍﻟﻤﻠﻜﻴ ﺔ ﻭﻧﻘ ﻞ ﺃﻭ ﺗﺤﻮﻳ ﻞ ﻣﻠﻜﻴ ﺔ‬
‫ﺍﻷﺳﻬﻢ ﻭﺍﻟﺤﺼﻮﻝ ﻋﻠﻰ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﺨﺎﺻﺔ ﺑﺎﻟﺸﺮﻛﺔ ﻭﺍﻟﻤﺸﺎﺭﻛﺔ ﻭﺍﻟﺘﺼ ﻮﻳﺖ‬
‫ﻓ ﻲ ﺍﻻﺟﺘﻤﺎﻋ ﺎﺕ ﺍﻟﻌﺎﻣ ﺔ ﻟﻠﻤﺴ ﺎﻫﻤﻴﻦ ﻭﺍﻧﺘﺨ ﺎﺏ ﺃﻋﻀ ﺎء ﻣﺠﻠ ﺲ ﺍﻹﺩﺍﺭﺓ‬
‫ﻭﺍﻟﺤﺼ ﻮﻝ ﻋﻠ ﻰ ﺣﺼ ﺺ ﻣ ﻦ ﺃﺭﺑ ﺎﺡ ﺍﻟﺸ ﺮﻛﺔ ﻭﺍﻟﺤ ﻖ ﻓ ﻲ ﺍﻟﻤﺸ ﺎﺭﻛﺔ‬
‫ﻭﺍﻟﺘﻌ ﺪﻳﻼﺕ ﻓ ﻲ ﺍﻟﻨﻈ ﺎﻡ ﺍﻷﺳﺎﺳ ﻲ ﻭﺍﻷﺳ ﻬﻢ ﺇﺿ ﺎﻓﻴﺔ ﻭﺃﻱ ﻣﻌﻠﻮﻣ ﺎﺕ ﻗ ﺪ ﺗﺴ ﻔﺮ‬
‫ﻋﻦ ﺑﻴﻊ ﺍﻟﺸﺮﻛﺔ ‪.‬‬
‫‪ 2.2.3‬ﺍﻟﻤﺒﺪﺃ ﺍﻟﺜﺎﻧﻲ ﺍﻟﻤﻌﺎﻣﻠﺔ ﺍﻟﻤﺘﻜﺎﻓﺌﺔ ﻟﻠﻤﺴﺎﻫﻤﻴﻦ‬
‫ﻭﻓ ﻲ ﻣﺒ ﺪﺃ ﺍﻟﻤﻌﺎﻣﻠ ﺔ ﺍﻟﻤﺘﻜﺎﻓﺌ ﺔ ﻟﻠﻤﺴ ﺎﻫﻤﻴﻦ ﻳﺠ ﺐ ﺃﻥ ﻳﻜﻔ ﻞ ﺇﻁ ﺎﺭ ﺣﻮﻛﻤ ﺔ‬
 ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬
‫‪ ،‬ﻭﻳﺴﺘﻄﻴﻊ ﺍﻟﺒﺎﺣﺚ ﺗﻌﺮﻳﻒ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺄﻧﻬﺎ ‪:‬‬
‫ﻋﻤﻠﻴ ﺔ ﻣﺨﻄﻄ ﺔ ﻭﻣﺪﺭﻭﺳ ﺔ ﻣ ﻦ ﻗﺒ ﻞ ﺍﻹﺩﺍﺭﺓ ﺗﻬ ﺪﻑ ﺇﻟ ﻰ ﺗﻐﻴﻴ ﺮ ﺃﺭﻗ ﺎﻡ ﺍﻟﻘ ﻮﺍﺋﻢ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﺑﺎﺳﺘﻐﻼﻝ ﺍﻟﺒﺪﺍﺋﻞ ﻭﺍﻟﻄﺮﻕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﻤﺨﺘﻠﻔﺔ ﻹﻅﻬﺎﺭﻫﺎ ﺑﺼﻮﺭﺓ ﻏﻴ ﺮ‬
‫ﺣﻘﻴﻘﻴﺔ ﻟﺘﺤﻘﻴﻖ ﺃﻫﺪﺍﻑ ﺫﺍﺗﻴﺔ ‪.‬‬
‫‪ 2.4‬ﺩﻭﺍﻓﻊ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﻳﻮﺟﺪ ﻋﺪﺓ ﺩﻭﺍﻓﻊ ﻟﻤﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺗﺘﻤﺜ ﻞ ﻓ ﻲ ﺍﻟﺘ ﺄﺛﻴﺮ ﺍﻻﻳﺠ ﺎﺑﻲ‬
‫ﻋﻠﻰ ﺳﻤﻌﺔ ﺍﻟﺸﺮﻛﺔ ﻓﻲ ﺍﻟﺴﻮﻕ ‪ ،‬ﺍﻟﺘﺄﺛﻴﺮ ﻋﻠﻰ ﺳﻌﺮ ﺳﻬﻢ ﺍﻟﺸﺮﻛﺔ ﻓﻲ ﺍﻟﺴﻮﻕ‬
‫ﺍﻟﻤﺎﻟﻴ ﺔ ‪ ،‬ﺯﻳ ﺎﺩﺓ ﺍﻻﻗﺘ ﺮﺍﺽ ﻣ ﻦ ﺍﻟﺒﻨ ﻮﻙ ﻭ ﺍﻟﺘﻼﻋ ﺐ ﺍﻟﻀ ﺮﻳﺒﻲ ﻭ ﺗﺤﺴ ﻴﻦ‬
‫ﺍﻷﺩﺍء ﺍﻟﻤﺎﻟﻲ ﻟﻠﺸﺮﻛﺔ ﻟﺘﺤﻘﻴﻖ ﻣﺼﺎﻟﺢ ﺷﺨﺼﻴﺔ ﻭ ﺍﻟﺤﺼﻮﻝ ﻋﻠ ﻰ ﺍﻟﺘﺼ ﻨﻴﻒ‬
‫ﺍﻟﻤﻬﻨﻲ }‪.{34‬‬
‫‪ 3.4‬ﺗﺼﻨﻴﻒ ﻭﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﻳﺘﻢ ﺗﺼﻨﻴﻒ ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺇﻟﻰ}‪:{35‬‬
‫‪ -1‬ﺍﻻﻋﺘﺮﺍﻑ ﺑﺈﻳﺮﺍﺩ ﺳﺎﺑﻖ ﻷﻭﺍﻧﻪ ﺃﻭ ﻭﻫﻤﻲ ‪.‬‬
‫‪ -2‬ﺍﻟﺮﺳﻤﻠﺔ ﺍﻟﻌﺪﻭﺍﻧﻴﺔ ﻭﺳﻴﺎﺳﺔ ﺍﻻﺳﺘﻬﻼﻙ ﺍﻟﻤﻮﺳﻌﺔ‪.‬‬
‫‪ -3‬ﺧﻄﺄ ﺍﻟﺘﻘﺮﻳﺮ ﻋﻦ ﺍﻟﻤﻮﺟﻮﺩﺍﺕ ﺍﻟﻤﻄﻠﻮﺑﺎﺕ ‪Misreported Assets‬‬
‫‪.and Liabilities‬‬
‫‪ -4‬ﺣﺼﻮﻝ ﺇﺑﺪﺍﻉ ﻓﻲ ﻗﺎﺋﻤﺔ ﺍﻟﺪﺧﻞ‪.‬‬
‫‪ -5‬ﻣﺸﺎﻛﻞ ﻣﻊ ﺗﻘﺎﺭﻳﺮ ﻗﺎﺋﻤﺔ ﺍﻟﺘﺪﻓﻖ ﺍﻟﻨﻘﺪﻱ‪.‬‬
‫ﻭﺗﻜﻤﻦ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺍﻟﺘﺎﻟﻲ ‪:‬‬
‫}‪{36‬‬
‫‪ 1.3.4‬ﻗﺎﺋﻤﺔ ﺍﻟﺪﺧﻞ‬
‫ﺣﻴﺚ ﻳﻤﻜﻦ ﺍﻟﺘﻼﻋﺐ ﻓ ﻲ ﺃﺭﻗ ﺎﻡ ﻗﺎﺋﻤ ﺔ ﺍﻟ ﺪﺧﻞ ﻛﻤﺜ ﺎﻝ ﻓ ﻲ ﻣﺼ ﺎﺭﻳﻒ ﺍﻹﻫ ﻼﻙ‬
‫ﻋ ﻦ ﺍﻻﻣ ﺘﻼﻙ ‪ ،‬ﻭﺍﻻﻋﺘ ﺮﺍﻑ ﺍﻟﻤﺒﻜ ﺮ ﺑ ﺎﻹﻳﺮﺍﺩﺍﺕ ‪ ،‬ﺗﻘﻠﻴ ﻞ ﻣ ﺎ ﻳﺴ ﺘﺤﻖ ﻣ ﻦ‬
‫ﻣﺼ ﺎﺭﻳﻒ ‪ ،‬ﺗﻀ ﺨﻴﻢ ﺍﻟﻤﺒﻴﻌ ﺎﺕ ﻭﻣﺠﻤ ﻞ ﺍﻟ ﺮﺑﺢ ‪ ،‬ﺗﻘﻴ ﻴﻢ ﺍﻟﻌﻤ ﻼﺕ ﺍﻷﺟﻨﺒﻴ ﺔ‬
‫ﻟﻸﺭﺻﺪﺓ‪.‬‬
‫‪ 2.3.4‬ﻗﺎﺋﻤﺔ ﺍﻟﻤﺮﻛﺰ ﺍﻟﻤﺎﻟﻲ‬
‫ﻭﺍﻟﺘﻼﻋﺐ ﻓﻲ ﻗﺎﺋﻤﺔ ﺍﻟﻤﺮﻛﺰ ﺍﻟﻤﺎﻟﻲ ﻳﺘﻢ ﻣﺜﻼ ﻓﻲ ﺗﻀﺨﻴﻢ ﻓ ﻲ ﻣﺼ ﺎﺭﻳﻒ ﺇﻋ ﺎﺩﺓ‬
‫ﺍﻟﻬﻴﻜﻠ ﺔ ﻭﺍﻟﺤﺴ ﺎﺑﺎﺕ ﺍﻟﻤﺪﻳﻨ ﺔ ﺗﻘﻠﻴ ﻞ ﺍﻻﻟﺘﺰﺍﻣ ﺎﺕ ﻭﺯﻳ ﺎﺩﺓ ﺍﻻﺣﺘﻴﺎﻁﻴ ﺎﺕ ﺗﻀ ﺨﻴﻢ‬
‫ﺍﻟﻤﻌﺪﺍﺕ ﻭﺍﻟﻤﻤﺘﻠﻜﺎﺕ ﻭﺍﻟﺘﻼﻋﺐ ﻓﻲ ﻣﺨﺼﺼﺎﺕ ﺍﻟﺪﻳﻮﻥ‪.‬‬
‫‪ 3.3.4‬ﻗﺎﺋﻤﺔ ﺍﻟﺘﺪﻓﻘﺎﺕ ﺍﻟﻨﻘﺪﻳﺔ‬
‫‪ -1‬ﻳ ﺘﻢ ﺍﻟﺘﻼﻋ ﺐ ﻓ ﻲ ﻗﺎﺋﻤ ﺔ ﺍﻟﺘ ﺪﻓﻘﺎﺕ ﺍﻟﻨﻘﺪﻳ ﺔ ﻣ ﻦ ﺧ ﻼﻝ ﺗﺴ ﺠﻴﻞ ﺍﻟﻨﻔﻘ ﺎﺕ‬
‫ﺍﻟﺘﺸﻐﻴﻠﻴﺔ ﻣﻦ ﻗﺒﻞ ﺍﻟﻤﺤﺎﺳﺒﺔ ﻭﺍﻋﺘﺒﺎﺭﻫ ﺎ ﻧﻔﻘ ﺎﺕ ﺍﺳ ﺘﺜﻤﺎﺭﻳﺔ ﺃﻭ ﺗﻤﻮﻳﻠﻴ ﺔ ﺃﻭ‬
‫ﺍﻟﻌﻜﺲ}‪.{37‬‬
‫‪ -2‬ﺗﻘ ﻮﻡ ﺍﻟﺸ ﺮﻛﺔ ﺑﺘﺴ ﺠﻴﻞ ﺗﻜ ﺎﻟﻴﻒ ﺍﻟﺘﻄ ﻮﻳﺮ ﺍﻟﺮﺃﺳ ﻤﺎﻟﻲ ﺑﺎﻋﺘﺒﺎﺭﻫ ﺎ ﺗ ﺪﻓﻘﺎﺕ‬
‫ﻧﻘﺪﻳ ﺔ ﺍﺳ ﺘﺜﻤﺎﺭﻳﺔ ﺧﺎﺭﺟ ﺔ ﻭﺗﻘ ﻮﻡ ﺑﺎﺳ ﺘﺒﻌﺎﺩﻫﺎ ﻣ ﻦ ﺍﻟﺘ ﺪﻓﻘﺎﺕ ﺍﻟﻨﻘﺪﻳ ﺔ‬
‫ﺍﻟﺘﺸﻐﻴﻠﻴﺔ ﺍﻟﺨﺎﺭﺟﺔ ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﻳﺰﻳﺪ ﻣﻦ ﺍﻟﺘﺪﻓﻘﺎﺕ ﺍﻟﻨﻘﺪﻳﺔ ﺍﻟﺪﺍﺧﻠﺔ ‪.‬‬
‫‪ -3‬ﺍﻟﺘﻼﻋﺐ ﻓﻲ ﺍﻟﺘﺪﻓﻘﺎﺕ ﺍﻟﻨﻘﺪﻳﺔ ﺍﻟﺘﺸﻐﻴﻠﻴﺔ ﺑﻬ ﺪﻑ ﺍﻟﺘﻬ ﺮﺏ ﺟﺰﺋﻴ ﺎ ﻣ ﻦ ﺳ ﺪﺍﺩ‬
‫ﺍﻟﻀ ﺮﺍﺋﺐ ﻣﺜ ﻞ ﺗﺨﻔ ﻴﺾ ﻣﻜﺎﺳ ﺐ ﺑﻴ ﻊ ﺍﻻﺳ ﺘﺜﻤﺎﺭﺍﺕ ﺃﻭ ﺑﻌ ﺾ ﺣﻘ ﻮﻕ‬
‫ﺍﻟﻤﻠﻜﻴﺔ‬
‫‪ 4.3.4‬ﻗﺎﺋﻤﺔ ﺍﻟﺘﻐﻴﺮ ﻓﻲ ﺣﻘﻮﻕ ﺍﻟﺸﺮﻛﺎء‬
‫ﺇﻥ ﺟﻤﻴﻊ ﺑﻨﻮﺩ ﻗﺎﺋﻤﺔ ﺍﻟﺘﻐﻴﺮﺍﺕ ﻓﻲ ﺣﻘﻮﻕ ﺍﻟﺸﺮﻛﺎء ﻳﻤﻜ ﻦ ﺃﻥ ﺗﻄﺎﻟﻬ ﺎ ﺍﻟﻤﺤﺎﺳ ﺒﺔ‬
‫ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﻛ ﺎﻟﺘﻐﻴﺮﺍﺕ ﺍﻟﻮﻫﻤﻴ ﺔ ﻓ ﻲ ﺯﻳ ﺎﺩﺓ ﺃﻭ ﺗﺨﻔ ﻴﺾ ﺭﺃﺱ ﺍﻟﻤ ﺎﻝ ﺍﻟﻤ ﺪﻓﻮﻉ‬
‫ﻭﻛﺬﻟﻚ ﺭﺃﺱ ﺍﻟﻤﺎﻝ ﺍﻟﻤﻜﺘﺴﺐ ﻭﺭﺃﺱ ﺍﻟﻤﺎﻝ ﺍﻟﻤﺤﺘﺴﺐ}‪.{38‬‬
‫‪ 4.4‬ﺍﻷﺑﻌﺎﺩ ﺍﻷﺧﻼﻗﻴﺔ ﻟﻤﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﻭﺃﺷﺎﺭﺕ ﺍﻹﺭﺷﺎﺩﺍﺕ ﺍﻟﺪﻭﻟﻴ ﺔ ﻟﻠﻤﻤﺎﺭﺳ ﺔ ﺍﻟﺠﻴ ﺪﺓ ﻟﺘﻘ ﻮﻳﻢ ﻭﺗﺤﺴ ﻴﻦ ﺍﻟﺤﻮﻛﻤ ﺔ ﻓ ﻲ‬
‫ﺍﻟﻤﻨﺸﺂﺕ ﺍﻟﺼ ﺎﺩﺭﺓ ﻋ ﻦ ﺍﻻﺗﺤ ﺎﺩ ﺍﻟ ﺪﻭﻟﻲ ﻟﻠﻤﺤﺎﺳ ﺒﻴﻦ ‪) IFAC‬ﺍﻟﻔﻘ ﺮﺓ ‪ 8‬ﻝ( ﺇﻥ‬
‫ﻟﻜﻞ ﻣﻨﺸﺄﺓ ﺗﻘﺎﺭﻳﺮ ﺧﺎﺻﺔ ﺑﻬﺎ ﺳﻮﺍء ﻣﺎﻟﻴﺔ ﺃﻭ ﻏﻴﺮ ﻣﺎﻟﻴﺔ ﻭﻳﺠﺐ ﺗ ﻮﺧﻲ ﺍﻟﺤ ﺬﺭ‬
‫ﻟﻌ ﺪﻡ ﺗﺤﻮﻟﻬ ﺎ ﺇﻟ ﻰ ﺃﺩﻭﺍﺕ ﺗﺴ ﻮﻳﻖ‪ ،‬ﻓﻴﺠ ﺐ ﻛﺘﺎﺑﺘﻬ ﺎ ﺑﺸ ﻜﻞ ﻋ ﺎﺩﻝ ﻭﻣﺘ ﻮﺍﺯﻥ‬
‫ﻭﺇﻅﻬ ﺎﺭ ﺍﻟﻨﺘ ﺎﺋﺞ ﺍﻟﺴ ﻠﺒﻴﺔ ﺑ ﺪﻻ ﻣ ﻦ ﻣﺤﺎﻭﻟ ﺔ ﺇﺧﻔﺎءﻫ ﺎ }‪ ،{39‬ﻭﺗﻌﺘﺒ ﺮ ﻫ ﺬﻩ ﺇﺷ ﺎﺭﺓ‬
‫ﻭﺍﺿﺤﺔ ﺇﻟﻰ ﻋﺪﻡ ﺍﻟﺘﻼﻋﺐ ﻓﻲ ﺍﻟﺘﻘﺎﺭﻳﺮ ﻭﺇﻅﻬﺎﺭﻫﺎ ﺑﺸﻜﻠﻬﺎ ﺍﻟﻔﻌﻠﻲ ﺩﻭﻥ ﺇﺟ ﺮﺍء‬
‫ﺃﻱ ﺗﻌﺪﻳﻼﺕ ﻭﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫ﺗﻌﺘﺒ ﺮ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ـﺔ ﻋﻤﻮﻣ ﺎ ﻓﻌ ﻞ ﻭﻣﻤﺎﺭﺳ ﺔ ﻓ ﻲ ﺣ ﺪ ﺫﺍﺗﻬ ﺎ ﻣﺨﺎﺩﻋ ـﺔ‬
‫ﻭﻏﻴﺮ ﻣﺮﻏﻮﺏ ﻓﻴﻬﺎ‪{40} .‬ﻛﻤﺎ ﺇﻥ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﺎﺩﺓ ﻓﻌﻞ ﺳﻠﺒﻲ ﻭﻣﻌﻴ ﺐ‬
‫ﻭﻋﻨ ﺪﻣﺎ ﺗ ﺬﻛﺮ ﻳﺘﺒ ﺎﺩﺭ ﻟﻠﻌﻘ ﻞ ﺍﻟﺘﻼﻋ ﺐ ﻭﺍﻟﺘﻀ ﻠﻴﻞ ﻭﺍﻟﺨ ﺪﺍﻉ ﻭﻟﻜﻨﻬ ﺎ ﻣﻔﻴ ﺪﺓ‬
‫ﻟﻠﻤﺴ ﺘﺨﺪﻡ ﺇﺫﺍ ﺍﺳ ﺘﺨﺪﻣﺖ ﺑﺼ ﻮﺭﺓ ﺻ ﺤﻴﺤﺔ‪{41} .‬ﺗﻌﺘﺒ ﺮ ﻣﻤﺎﺭﺳ ﺔ ﺍﻟﻤﺤﺎﺳ ﺒﺔ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ ﻣﺸﻜﻠﺔ ﺃﺳﺎﺳﻴﺔ ﺗﻮﺍﺟﻪ ﻣﻬﻨ ﺔ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺗﺘﻌ ﺎﺭﺽ ﻣ ﻊ ﻗﻮﺍﻋ ﺪ ﺍﻟﺴ ﻠﻮﻙ‬
‫ﺍﻟﻤﻬﻨ ﻲ ﻭﺍﻷﺧﻼﻗ ﻲ)‪(Ethics‬ﺍﻟﺼ ﺎﺩﺭﺓ ﻋ ﻦ ﺍﻟﺠﻤﻌﻴ ﺎﺕ ﻭﺍﻟﻬﻴﺌ ﺎﺕ ﺍﻟﻤﻬﻨﻴ ﺔ‬
‫ﺍﻟﻤﺤﻠﻴﺔ ﻭﺍﻹﻗﻠﻴﻤﻴﺔ ﻭﺍﻟﻌﺎﻟﻤﻴﺔ ﺍﻟﺘﻲ ﻭﺿ ﻌﺖ ﻗﻮﺍﻋ ﺪ ﻟﺴ ﻠﻮﻙ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﻭﻣﺒ ﺎﺩﺉ‬
‫ﻳﺠ ﺐ ﺇﺗﺒﺎﻋﻬ ﺎ ﻭﺃﻫﻤﻬ ﺎ ﺍﻟﻜ ﻮﺩ ﺍﻷﺧﻼﻗ ﻲ ﺍﻟ ﺪﻭﻟﻲ ﺍﻟﺼ ﺎﺩﺭ ﻋ ﻦ ﺍﻻﺗﺤ ﺎﺩ ﺍﻟ ﺪﻭﻟﻲ‬
‫‪67‬‬
‫ﺃ‪ -‬ﺗﺨﻔ ﻴﺾ ﻣﺨ ﺎﻁﺮ ﺍﻟﻔﺴ ﺎﺩ ﺍﻟﻤ ﺎﻟﻲ ﻭﺍﻹﺩﺍﺭﻱ ﺍﻟﺘ ﻲ ﺗﻮﺍﺟﻬﻬ ﺎ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﻭﺍﻟ ﺪﻭﻝ ﻭﺭﻓ ﻊ ﻣﺴ ﺘﻮﻯ ﺃﺩﺍء ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺩﻓ ﻊ ﻋﺠﻠ ﺔ ﺍﻟﺘﻨﻤﻴ ﺔ ﻭﺍﻟﺘﻘ ﺪﻡ‬
‫ﺍﻻﻗﺘﺼﺎﺩﻱ ﻟﺪﻭﻝ ﺗﻠﻚ ﺍﻟﺸﺮﻛﺎﺕ ‪.‬‬
‫ﺏ‪ -‬ﺟﺬﺏ ﺍﻻﺳﺘﺜﻤﺎﺭﺍﺕ ﺍﻷﺟﻨﺒﻴﺔ ﻭﺗﺸ ﺠﻴﻊ ﺭﺃﺱ ﺍﻟﻤ ﺎﻝ ﺍﻟﻤﺤﻠ ﻲ ﻟﻠﺘﻮﺟ ﻪ ﻧﺤ ﻮ‬
‫ﺍﻻﺳﺘﺜﻤﺎﺭ ﻓﻲ ﺍﻟﻤﺸﺮﻭﻋﺎﺕ ﺍﻟﻮﻁﻨﻴﺔ ‪.‬‬
‫ﺕ‪ -‬ﺗﺰﻳ ﺪ ﻣ ﻦ ﻗ ﺪﺭﺓ ﺍﻟﺸ ﺮﻛﺔ ﺍﻟﻮﻁﻨﻴ ﺔ ﻋﻠ ﻰ ﺍﻟﻤﻨﺎﻓﺴ ﺔ ﻋﻠ ﻰ ﺍﻟﻌ ﺎﻟﻢ ﻭﻓ ﺘﺢ‬
‫ﺍﻷﺳﻮﺍﻕ ﺍﻟﺠﺪﻳﺪﺓ ﻭ ﺍﻟﺸﻔﺎﻓﻴﺔ ﻭﺍﻟﺪﻗﺔ ﻭﺍﻟﻮﺿﻮﺡ ﻓﻴﻤﺎ ﺗﺼﺪﺭﻩ ﺍﻟﺸﺮﻛﺔ ﻣ ﻦ‬
‫ﻗ ﻮﺍﺋﻢ ﻣﺎﻟﻴ ﺔ ﻟﺰﻳ ﺎﺩﺓ ﺛﻘ ﺔ ﺍﻟﻤﺴ ﺘﺜﻤﺮﻳﻦ ﻭﺍﻋﺘﻤ ﺎﺩﻫﻢ ﻋﻠﻴﻬ ﺎ ﻓ ﻲ ﺍﺗﺨ ﺎﺫ‬
‫ﺍﻟﻘﺮﺍﺭﺍﺕ ‪.‬‬
‫‪ 5.3‬ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬
‫ﻣﻔﺎﻫﻴﻢ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺗﺤﺪﺩ ﺍﻟﺨﺼﺎﺋﺺ ﺍﻟﻤﻔﻴﺪﺓ ﻟﻠﻤﻌﻠﻮﻣﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭﺗﺤﺪﻳﺪ ﻫﺬﺍ ﺍﻟﺨﺼﺎﺋﺺ ﻳﺴﺎﻋﺪ ﺍﻟﻤﺴﺌﻮﻟﻴﻦ ﻋﻨﺪ ﻭﺿﻊ ﺍﻟﻤﻌﺎﻳﻴﺮ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪ ،‬ﻭﺗﺴﺎﻋﺪ ﻛﺬﻟﻚ ﺍﻟﻤﺴﺌﻮﻟﻴﻦ ﻋﻦ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻓﻲ ﺗﻘﻴﻴﻢ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﻨﺎﺗﺠﺔ ﻋﻦ ﺗﻄﺒﻴﻖ ﻁﺮﻕ ﺃﻭ ﺃﺳﺎﻟﻴﺐ ﻣﺤﺎﺳﺒﻴﺔ ﺑﺪﻳﻠﺔ }‪ ، {26‬ﺇﻥ‬
‫ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺃﺣﺪ ﺍﻟﻤﻌﺎﻳﻴﺮ ﺍﻷﺳﺎﺳﻴﺔ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻣﻦ‬
‫ﺧﻼﻝ ﺇﻅﻬﺎﺭ ﺍﻟﻤﻮﺿﻮﻋﻴﺔ ﻭﺍﻟﺪﻗﺔ ﻓﻲ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ﻣﻊ ﺍﻻﻟﺘﺰﺍﻡ ﺑﺎﻷﻧﻈﻤﺔ‬
‫ﻭﺍﻟﺘﺸﺮﻳﻌﺎﺕ ﺣﻴﺚ ﺗﻌﺘﺒﺮ ﺍﻟﻌﻼﻗﺔ ﻭﺛﻴﻘﺔ ﺑﻴﻦ ﺍﻟﺤﻮﻛﻤﺔ ﻭﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪ ،‬ﻓﺘﻄﺒﻴﻖ ﻣﺒﺪﺃ ﺍﻹﻓﺼﺎﺡ ﻓﻲ ﺍﻟﺤﻮﻛﻤﺔ ﻳﺤﻘﻖ ﺍﻟﺸﻔﺎﻓﻴﺔ ﻭﻳﺘﻔﻖ ﻣﻊ‬
‫ﻣﻌﺎﻳﻴﺮ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻷﺳﺎﺳﻴﺔ}‪ ، {27‬ﻭﻣﻦ ﺧﻼﻝ ﻣﺒﺎﺩﺉ ﺍﻟﺤﻮﻛﻤﺔ ﻳﺘﻢ‬
‫ﺿﺒﻂ ﺍﻟﻤﻌﺎﻟﺠﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭﺣﺴﻢ ﻣﺸﺎﻛﻞ ﺍﻟﻘﻴﺎﺱ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻭﺿﺒﻂ ﺷﻜﻞ‬
‫ﻭﻋﺮﺽ ﻣﺤﺘﻮﻯ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻣﻤﺎ ﻳﺆﺛﺮ ﻋﻠﻰ ﺟﻮﺩﺓ ﻭﻣﻨﻔﻌﺔ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﻤﻨﺸﻮﺭﺓ ﻓﻲ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻭﻫﺬﺍ ﻳﻨﻌﻜﺲ ﻋﻠﻰ ﺗﻄﻮﺭ ﺃﺩﺍء‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻭﻋﻠﻰ ﻗﻴﻤﺘﻬﺎ ﺍﻟﺴﻮﻗﻴﺔ}‪.{28‬‬
‫ﻳﺴﺎﻋﺪ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺗﻤﻜﻴﻦ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﻣﻦ ﺍﻟﻤﺴﺎءﻟﺔ ﻭﺍﻟﺮﻗﺎﺑﺔ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻋﻠﻰ ﻣﺠﻠﺲ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻟﺤﺼﻮﻝ ﻋﻠﻰ ﻣﻌﻠﻮﻣﺎﺕ ﺟﻴﺪﺓ ‪ ،‬ﻭﻛﺬﻟﻚ‬
‫ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻳﻤﻨﻊ ﺍﻹﺩﺍﺭﺓ ﻣﻦ ﺗﻄﻮﻳﻊ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﻭﺍﻟﻤﺮﺍﺟﻌﺔ ﻷﻏﺮﺍﺽ ﺍﻟﺘﻼﻋﺐ ﺑﺎﻟﺤﺴﺎﺑﺎﺕ ﻭﻣﻤﺎﺭﺳﺔ ﺃﺳﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺑﺎﻟﺘﺎﻟﻲ ﺗﻮﻓﻴﺮ ﻣﻌﻠﻮﻣﺎﺕ ﻣﺤﺎﺳﺒﻴﺔ ﻣﻮﺛﻮﻕ ﺑﻬﺎ ‪.‬‬
‫‪ .4‬ﻣﻔﻬﻮﻡ ﻭﺩﻭﺍﻓﻊ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺃﺳﺎﻟﻴﺒﻬﺎ‬
‫ﻳﺘﻀﻤﻦ ﻫﺬﺍ ﺍﻟﺠﺰء ﻣﻔﻬﻮﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺩﻭﺍﻓﻊ ﻣﻤﺎﺭﺳﺘﻬﺎ ﻭﺃﺳﺎﻟﻴﺒﻬﺎ‬
‫ﻭﺟﻬﻮﺩ ﻣﺠﻠﺲ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺪﻭﻟﻴﺔ ﺗﺠﺎﻫﻬﺎ ﻭﺍﻷﺑﻌﺎﺩ ﺍﻷﺧﻼﻗﻴﺔ ﻟﻤﻤﺎﺭﺳﺔ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫‪ 1.4‬ﻣﻔﻬﻮﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﺗﺴ ﻤﻰ ﺇﺟ ﺮﺍءﺍﺕ ﺍﻟﺘﻼﻋ ﺐ ﺑﺎﻷﺭﺑ ﺎﺡ ﺑﺎﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ‪Creative‬‬
‫‪ Accounting‬ﻭﺃﻳﻀ ﺎ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑ ﺎﺡ‪، Earnings Management‬‬
‫ﺍﻟﻬﻨﺪﺳ ﺔ ﺍﻟﻤﺎﻟﻴ ﺔ ‪ ، Financial Engineering‬ﺗﻠﻄﻴ ﻒ ﺍﻟ ﺪﺧﻞ ‪Earnings‬‬
‫‪ ، Smoothing‬ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺘﺠﻤﻴﻠﻴﺔ ‪ Cosmetic Accounting‬ﻭﻛ ﻞ ﻫ ﺬﻩ‬
‫}‪{29‬‬
‫ﺍﻟﻤﺼﻄﻠﺤﺎﺕ ﺗﺸﻴﺮ ﺇﻟﻰ ﺍﻟﺘﻼﻋﺐ ﻓﻲ ﺍﻟﺤﺴﺎﺑﺎﺕ‪.‬‬
‫ﺗﻌ ﺮﻑ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺑﺄﻧﻬ ﺎ ﺇﺟ ﺮﺍءﺍﺕ ﺃﻭ ﺧﻄ ﻮﺍﺕ ﻳ ﺘﻢ ﺍﺳ ﺘﺨﺪﺍﻣﻬﺎ‬
‫ﻟﻠﺘﻼﻋ ﺐ ﺑﺎﻷﺭﻗ ﺎﻡ ﺍﻟﻤﺎﻟﻴ ﺔ ﻭﺫﻟ ﻚ ﻟﺨ ﺪﺍﻉ ﻣﺴ ﺘﺨﺪﻣﻲ ﺍﻟﺘﻘ ﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴ ﺔ ‪ ،‬ﻭﻫ ﻲ‬
‫ﻛﺬﻟﻚ ﺃﻱ ﺇﺟﺮﺍء ﺃﻭ ﺧﻄ ﻮﺓ ﻧﺤ ﻮ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑ ﺎﺡ ﺃﻭ ﺗﻤﻬﻴ ﺪ ﺍﻟ ﺪﺧﻞ }‪{30‬ﻋﺮﻓ ﺖ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺑﺄﻧﻬﺎ ﻣﺠﻤﻮﻋﺔ ﻣﻦ ﺍﻷﺳ ﺎﻟﻴﺐ ﻭﺍﻹﺟ ﺮﺍءﺍﺕ ﺍﻟﺘ ﻲ ﻳﻌﺘﻤ ﺪﻫﺎ‬
‫ﺍﻟﻤﺤﺎﺳﺐ ﻟﺘﺤﻘﻴﻖ ﻣﺼﻠﺤﺔ ﺃﺻﺤﺎﺏ ﺍﻟﻤﺼ ﻠﺤﺔ ﺑﺎﻟﺸ ﺮﻛﺔ ﻭﻟﻠﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ‬
‫ﻣﻈﻬﺮ ﻗﺎﻧﻮﻧﻲ ﻳﺼﺎﺩﻕ ﻋﻠﻴﻪ ﻣ ﺪﻗﻖ ﺍﻟﺤﺴ ﺎﺑﺎﺕ ﺍﻟﺨ ﺎﺭﺟﻲ ﻭﻳﻨ ﺘﺞ ﻋ ﻦ ﺍﻻﺳ ﺘﻔﺎﺩﺓ‬
‫ﻣ ﻦ ﺍﻟﺜﻐ ﺮﺍﺕ ﻭﺍﻟﻘ ﻮﺍﻧﻴﻦ ﻭﺍﻟﺒ ﺪﺍﺋﻞ ﺍﻟﻤﺘﺎﺣ ﺔ ﻓ ﻲ ﻣﻌ ﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻟﻤﻌﺘﻤ ﺪﺓ ‪،‬‬
‫ﻭﻣﻈﻬﺮ ﻏﻴ ﺮ ﻗ ﺎﻧﻮﻧﻲ ﻳﻨ ﺘﺞ ﻋ ﻦ ﺗﻮﺍﻁ ﺆ ﻣ ﺪﻗﻖ ﺍﻟﺤﺴ ﺎﺑﺎﺕ ﺍﻟﺨ ﺎﺭﺟﻲ ﻭﻳﺘﻀ ﻤﻦ‬
‫ﺗﻼﻋﺐ ﻭﺗﺤﺮﻳﻒ ﻓ ﻲ ﺍﻷﺭﻗ ﺎﻡ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ }‪{31‬ﻭﻋﺮﻓ ﺖ ﺑﺄﻧﻬ ﺎ ﺗﺴ ﺘﺨﺪﻡ ﻹﻅﻬ ﺎﺭ‬
‫ﺍﻟﻨﺘ ﺎﺋﺞ ﺍﻟﻤﺎﻟﻴ ﺔ ﺍﻟﻤﻌ ﺪﺓ ﻣ ﻦ ﺍﻟﻤﺤﺎﺳ ﺐ ﺑﺼ ﻮﺭﺓ ﺃﻓﻀ ﻞ ﻣﻤ ﺎ ﺗﻜ ﻮﻥ ﻋﻠﻴ ﻪ ﻓ ﻲ‬
‫ﺍﻷﺻ ﻞ ﺃﻱ ﺇﻧﻬ ﺎ ﻋﻤﻠﻴ ﺔ ﺗﺤﻮﻳ ﻞ ﺍﻷﺭﻗ ﺎﻡ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﻣ ﻦ ﻭﺿ ﻌﻬﺎ ﺍﻟﺤﻘﻴﻘ ﻲ‬
‫ﺑﺎﺳ ﺘﺨﺪﺍﻡ ﻋ ﺪﺓ ﻭﺳ ﺎﺋﻞ ﻟﻠﺘ ﺄﺛﻴﺮ ﻓ ﻲ ﺍﻟ ﺪﺧﻞ ﺍﻟﻤﺤﺎﺳ ﺒﻲ ﺇﻟ ﻰ ﻭﺿ ﻊ ﺗﺮﻏ ﺐ ﻓﻴ ﻪ‬
‫ﺍﻹﺩﺍﺭﺓ‪{32}.‬ﻭﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻫﻲ ﺍﻟﻤﻤﺎﺭﺳ ﺎﺕ ﻏﻴ ﺮ ﺍﻷﺧﻼﻗﻴ ﺔ ﻓ ﻲ ﺍﺧﺘﻴ ﺎﺭ‬
‫ﺍﻟﺘﻘﺪﻳﺮﺍﺕ ﻭﺍﻟﺴﻴﺎﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﻤﺘﺎﺣﺔ ﺍﻟﺘ ﻲ ﺗﺘ ﻴﺢ ﻓﺮﺻ ﺔ ﻟﻠﺘﻼﻋ ﺐ ﻭﺍﻟﻐ ﺶ‬
‫ﻣﻤﺎ ﻳﻨﺘﺞ ﻋﻨﻪ ﺑﻴﺎﻧﺎﺕ ﻣﺎﻟﻴﺔ ﻏﻴﺮ ﺻﺤﻴﺤﺔ ﻭﻣﻀﻠﻠﺔ}‪.{33‬‬
‫ﻳﺘﻀﺢ ﻣﻦ ﺧﻼﻝ ﺍﻟﺘﻌﺮﻳﻔﺎﺕ ﺍﻟﺴﺎﺑﻘﺔ ﺇﻥ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﺻﻮﺭﺓ ﻣﻦ ﺻ ﻮﺭ‬
‫ﺍﻟﺘﻼﻋ ﺐ ﻏﻴ ﺮ ﺍﻷﺧﻼﻗ ﻲ ﻳﻬ ﺪﻑ ﺇﻟ ﻰ ﺗﻐﻴﻴ ﺮ ﺃﺭﻗ ﺎﻡ ﺍﻟﺤﺴ ﺎﺏ ﺑﺸ ﻜﻞ ﻳﺨ ﺎﻟﻒ‬
‫ﺣﻘﻴﻘﺘﻬ ﺎ ﺳ ﺎﻋﺪ ﻓ ﻲ ﻅﻬﻮﺭﻫ ﺎ ﺗﻌ ﺪﺩ ﺃﺳ ﺎﻟﻴﺐ ﺍﻟﻘﻴ ﺎﺱ ﺍﻟﻤﺤﺎﺳ ﺒﻲ ﻣﻤ ﺎ ﻳﻌﻨ ﻰ ﺫﻟ ﻚ‬
‫ﺇﻧﻬﺎ ﺗﺘﻢ ﻓﻲ ﺇﻁﺎﺭ ﻗﺎﻧﻮﻧﻲ ﻧﺘﻴﺠﺔ ﻻﻋﺘﻤﺎﺩﻫﺎ ﻋﻠ ﻰ ﺍﻟﻤﻌ ﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﻭﻣﺒﺎﺩﺋﻬ ﺎ‬
‫‪68‬‬ ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬

‫ﺍﻻﺳﺘﺒﻴﺎﻧﺎﺕ‬ ‫ﻟﻠﻤﺤﺎﺳﺒﻴﻦ)‪(IFAC‬ﺍﻟﺬﻱ ﺻ ﺪﺭﻋﺎﻡ ‪2005‬ﻡ‪،‬ﻭﻛ ﺬﻟﻚ ﻳﻘﺘﻀ ﻲ ﺍﻟﺸ ﺮﻉ ﺍﻟﺤﻨﻴ ﻒ‬

‫ﻣﺠﺘﻤﻊ‬ ‫ﻋﺪﺩ‬ ‫ﺇﻅﻬﺎﺭ ﺍﻟﺤﻘﺎﺋﻖ ﻛﻤ ﺎ ﻫ ﻲ ﻭﺗ ﻮﺧﻲ ﺍﻟﺼ ﺪﻕ ﻭﺍﻷﻣﺎﻧ ﺔ ﻭﻫ ﺬﺍ ﻣ ﺎ ﺗﻔﺘﻘ ﺪﻩ ﺍﻟﻤﺤﺎﺳ ﺒﺔ‬
‫ﺍﻟﺨﺎﺿﻌﺔ‬ ‫ﺍﻟﻤﺴﺘﺒﻌﺪ‬ ‫ﺍﻟﻌﺎﺋﺪ‬ ‫ﺍﻟﺘﻮﺯﻳﻊ‬
‫ﺍﻟﺪﺭﺍﺳﺔ‬ ‫ﺍﻻﺳﺘﺒﻴﺎﻧﺎﺕ‬ ‫ﺍﻹﺑﺪﺍﻋﻴﺔ ‪.‬‬
‫ﻟﻠﺘﺤﻠﻴﻞ‬
‫‪ 5.4‬ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫‪46‬‬ ‫‪1‬‬ ‫‪47‬‬ ‫‪59‬‬ ‫‪59‬‬ ‫ﺍﻟﻌﺪﺩ ﺍﻟﻤﻮﺯﻉ‬ ‫ﺗﺴ ﻌﻰ ﺍﻟﺸ ﺮﻛﺎﺕ ﺇﻟ ﺘﺤﻘﻴ ﻖ ﺃﻫ ﺪﺍﻓﻬﺎ ﻭﺭﻓ ﻊ ﻣﺴ ﺘﻮﻯ ﺍﻷﺩﺍء ﻭﺗﺤﻘﻴ ﻖ ﻁﻤ ﻮﺡ‬
‫ﻣﺠﺎﻟﺲ ﺇﺩﺍﺭﺗﻬ ﺎ ﻭﺇﺭﺿ ﺎء ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﻣ ﻊ ﺍﻻﺣﺘﻔ ﺎﻅ ﺑﻌﻼﻗ ﺎﺕ ﺟﻴ ﺪﺓ ﻓ ﻲ ﺇﻁ ﺎﺭ‬
‫‪%97,9‬‬ ‫‪%2,1‬‬ ‫‪%79,7‬‬ ‫‪%100‬‬ ‫‪%100‬‬ ‫ﺍﻟﻨﺴﺒﺔ‬ ‫ﺁﻟﻴ ﺎﺕ ﺍﻟﺤﻮﻛﻤ ﺔ ﻟﺘﺘﺠﻨ ﺐ ﺍﻷﺯﻣ ﺎﺕ ﺍﻟﻤﺎﻟﻴ ﺔ ﻭﻣ ﻦ ﺛ ﻢ ﺍﻟﻤﺴ ﺎﻫﻤﺔ ﻓ ﻲ ﺍﻟﺘﻨﻤﻴ ﺔ‬
‫ﺍﻻﻗﺘﺼ ﺎﺩﻳﺔ ‪ ،‬ﻭﻗ ﺪ ﺃﻳ ﺪ ﺫﻟ ﻚ ﺩﺭﺍﺳ ﺔ ﻣﺨﻠ ﻮﻑ}‪ {42‬ﺣﻴ ﺚ ﺗﻮﺻ ﻞ ﺇﻟ ﻰ ﻧﺘﻴﺠ ﺔ ﺇﻥ‬
‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(2‬‬
‫ﺗﻄﺒﻴ ﻖ ﻣﺒ ﺎﺩﺉ ﺍﻟﺤﻮﻛﻤ ﺔ ﻭﺍﻹﻓﺼ ﺎﺡ ﻭﺍﻟﺸ ﻔﺎﻓﻴﺔ ﻳﺠﻨ ﺐ ﻣﻨﻈﻤ ﺎﺕ ﺍﻷﻋﻤ ﺎﻝ‬
‫ﺗﻮﺯﻳﻊ ﺧﺼﺎﺋﺺ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺍﻷﺯﻣﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺇﺻﺪﺍﺭ ﻗﻮﺍﺋﻢ ﻣﺎﻟﻴ ﺔ ﺗﻌﺒ ﺮ ﻋ ﻦ ﺍﻟﻮﺍﻗ ﻊ ﺍﻟﻔﻌﻠ ﻲ ‪ ،‬ﻭﺗﻌﺘﺒ ﺮ ﻫ ﺬﻩ‬
‫ﺍﻟﻨﺴﺒﺔ ‪%‬‬ ‫ﺍﻟﺘﻜﺮﺍﺭ‬ ‫ﺍﻟﻔﺌﺎﺕ ﺍﻟﻤﺘﻐﻴﺮﺍﺕ‬ ‫ﺍﻟﻤﺘﻐﻴﺮﺍﺕ‬ ‫ﻡ‬ ‫ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻔﻌﻠﻴ ﺔ ﺩﻟﻴ ﻞ ﻋﻠ ﻰ ﻋ ﺪﻡ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑ ﺎﺡ ﻣﻤ ﺎ ﻳﺠﻌﻠﻬ ﺎ ﻣﺤ ﻞ ﺛﻘ ﺔ‬
‫‪--‬‬ ‫‪--‬‬ ‫ﺃﻗﻞ ﻣﻦ ‪25‬ﺳﻨﺔ‬ ‫ﻟﻠﻤﺴﺘﺨﺪﻣﻴﻦ ﺣﻴﺚ ﺃﻛﺪ ﺫﻟﻚ ﻛﻞ ﻣﻦ ﺑﺎﻓﻘﻴﺮ}‪{43‬ﻓﻲ ﺍﻟﻨﺘﺎﺋﺞ ﺍﻟﺘﻲ ﺗﻮﺻﻠﻮﺍ ﺇﻟ ﻰ ﺇﻥ‬
‫ﻣﻦ‪ 25‬ﺇﻟﻰ ﺃﻗﻞ ﻣﻦ‬ ‫ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻳﺤﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺔ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑ ﺎﺡ}‪ ،{44‬ﻛﻤ ﺎ‬
‫‪6,5‬‬ ‫‪3‬‬
‫‪35‬ﺳﻨﺔ‬ ‫ﺃﻅﻬﺮﺕ ﻧﺘﺎﺋﺞ ﺇﺣﺪﻯ ﺍﻟﺪﺭﺍﺳﺎﺕ}‪ {45‬ﺇﻥ ﻣﻦ ﺃﻫﻢ ﺃﺳ ﺒﺎﺏ ﺍﻟﺘﻌﺜ ﺮ ﺍﻟﻤ ﺎﻟﻲ ﻭﺍﻟﻔﺴ ﺎﺩ‬
‫‪39,1‬‬ ‫ﻣﻦ‪ 35‬ﺇﻟﻰ ﺃﻗﻞ ﻣﻦ‬ ‫ﻭﺍﻧﻬﻴ ﺎﺭ ﺍﻟﺸ ﺮﻛﺎﺕ ﻫ ﻮ ﺿ ﻌﻒ ﺍﻟﺤﺎﻛﻤﻴ ﺔ ﻓﻴﻬ ﺎ ‪،‬ﻛﻤ ﺎ ﺃﺛﺒﺘ ﺖ ﺩﺭﺍﺳ ﺔ ﺳ ﻠﻴﻤﺎﻥ‬
‫‪18‬‬ ‫ﺍﻟﻌﻤﺮ‬ ‫‪1‬‬
‫‪45‬ﺳﻨﺔ‬ ‫}‪{46‬ﺇﻥ ﺇﺗﺒ ﺎﻉ ﺍﻟﻘﻮﺍﻋ ﺪ ﺍﻟﺴ ﻠﻴﻤﺔ ﻟﺤﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻳﺮﻓ ﻊ ﻣ ﻦ ﻣﺴ ﺘﻮﻳﺎﺕ ﺍﻷﺩﺍء‬
‫‪54,3‬‬ ‫‪25‬‬ ‫ﺃﻛﺜﺮ ﻣﻦ ‪ 45‬ﺳﻨﺔ‬ ‫ﻟﻠﺸﺮﻛﺎﺕ ﻭﻣﺎ ﻳﻠﻲ ﺫﻟﻚ ﻣﻦ ﺩﻓﻊ ﻋﻤﻠﻴﺔ ﺍﻟﺘﻨﻤﻴﺔ ﻭﺍﻟﺘﻘﺪﻡ ﺍﻻﻗﺘﺼﺎﺩﻱ‪.‬‬
‫ﺗﻮﺻ ﻠﺖ ﺇﺣ ﺪﻯ ﺍﻟﺪﺭﺍﺳ ﺎﺕ }‪{47‬ﺇﻟ ﻰ ﺃﻥ ﺍﻟﻤﻤﺎﺭﺳ ﺔ ﺍﻟﺠﻴ ﺪﺓ ﻟﺤﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫‪100‬‬ ‫‪46‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﺗﻀﻤﻦ ﺳﻼﻣﺔ ﻭﻛﻔﺎءﺓ ﺍﻟﻌﻤﻞ ‪ ،‬ﻛﻤﺎ ﻭﺍﻥ ﻓﻌﺎﻟﻴ ﺔ ﺍﻟﺤﻮﻛﻤ ﺔ ﻟﻬ ﺎ ﺍﺛ ﺮ ﻋﻤﻴ ﻖ ﻋﻠ ﻰ‬
‫‪4,3‬‬ ‫‪2‬‬ ‫ﺩﺑﻠﻮﻡ‬ ‫ﺍﻷﺩﺍء ﺍﻟﺠﻴ ﺪ ﻟﻠﻌﻤ ﻞ }‪ {48‬ﻭﺃﻛ ﺪﺕ ﺫﻟ ﻚ ﺩﺭﺍﺳ ﺔ ﺣ ﺪﺍﺩ ‪{49} ،‬ﻭﺍﻟﺘ ﻲ ﺃﻅﻬ ﺮﺕ‬
‫ﻧﺘﺎﺋﺠﻬﺎ ﺇﻟﻰ ﺇﻥ ﺍﻻﻟﺘﺰﺍﻡ ﺑﺘﻄﺒﻴﻖ ﺍﻟﺠﻮﺍﻧﺐ ﺍﻟﻔﻜﺮﻳﺔ ﻟﺤﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻳ ﻨﻌﻜﺲ‬
‫‪37,0‬‬ ‫‪17‬‬ ‫ﺑﻜﺎﻟﻮﺭﻳﻮﺱ‬ ‫ﺑﺼ ﻮﺭﺓ ﺟﻴ ﺪﺓ ﻋﻠ ﻰ ﺃﺩﺍء ﺍﻟﻮﺣ ﺪﺍﺕ ﺍﻻﻗﺘﺼ ﺎﺩﻳﺔ ﻭﺍﻟﻤﺎﻟﻴ ﺔ ﻭﺍﻟﻨﻘﺪﻳ ﺔ ‪ ،‬ﻭﺑﻴﻨ ﺖ‬
‫‪39,1‬‬ ‫‪18‬‬ ‫ﻣﺎﺟﺴﺘﻴﺮ‬ ‫ﺍﻟﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ‬ ‫‪2‬‬ ‫ﻧﺘﺎﺋﺞ ﺩﺭﺍﺳﺔ ) ﺍﻷﺳﻄﻞ }‪{50‬ﺇﻥ ﺍﻹﺩﺍﺭﺓ ﺍﻟﻌﻠﻴﺎ ﻭﻣﺘﺨﺬﻱ ﺍﻟﻘﺮﺍﺭﺍﺕ ﻟﺪﻳﻬﻢ ﻭﻋ ﻲ‬
‫ﻭﺇﺩﺭﺍﻙ ﺑﺘﻄﺒﻴﻖ ﺁﻟﻴﺎﺕ ﺍﻟﺤﻮﻛﻤﺔ ﻧﺘﻴﺠﺔ ﻟﻠﺮﻏﺒ ﺔ ﻓ ﻲ ﺗﺤﺴ ﻴﻦ ﺇﺩﺍﺭﺓ ﻭﻗﻴ ﺎﺱ ﺃﺩﺍء‬
‫‪19,6‬‬ ‫‪9‬‬ ‫ﺩﻛﺘﻮﺭﺍﻩ‬ ‫ﺍﻟﺸﺮﻛﺎﺕ ﻟﺘﺤﻘﻴﻖ ﻣ ﺎ ﺧﻄ ﻂ ﻟ ﻪ ﻣ ﻦ ﺃﻫ ﺪﺍﻑ ﻛﻤ ﺎ ﺇﻥ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫‪100‬‬ ‫‪46‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﻳﺴﺎﻋﺪ ﻋﻠﻰ ﺗﻄﻮﻳﺮ ﺍﻟﻔﻜﺮ ﻭﺍﻟﺘﻄﺒﻴﻖ ﺍﻟﻤﺤﺎﺳﺒﻰ ﻧﺤﻮ ﺍﻟﻤﻤﺎﺭﺳ ﺎﺕ ﺍﻷﻓﻀ ﻞ ﻛﻤ ﺎ‬
‫ﺇﻧﻬ ﺎ ﺗﻘ ﻮﻱ ﺍﻟﺸ ﺮﻛﺎﺕ ﻭﺗﺤﺴ ﻦ ﺃﺩﺍﺋﻬ ﺎ ﻭﺗﺰﻳ ﺪ ﻣ ﻦ ﻗﻴﻤﺘﻬ ﺎ ﻭﺗﻌ ﺰﺯ ﻗ ﺪﺭﺗﻬﺎ‬
‫‪39,1‬‬ ‫‪18‬‬ ‫ﻣﺤﺎﺳﺒﺔ‬ ‫ﺍﻟﺘﻨﺎﻓﺴﻴﺔ}‪ ،{51‬ﻣﻤﺎ ﻳﺠﻌﻞ ﻫﺬﻩ ﺍﻟﺸﺮﻛﺎﺕ ﺗﺴﺎﻫﻢ ﺑﻔﻌﺎﻟﻴﺔ ﻓ ﻲ ﺍﻟﺘﻨﻤﻴ ﺔ ﺍﻻﻗﺘﺼ ﺎﺩﻳﺔ‬
‫‪26,1‬‬ ‫‪12‬‬ ‫ﺇﺩﺍﺭﺓ ﺃﻋﻤﺎﻝ‬ ‫ﺗﺤﺘ ﺎﺝ ﺍﻟﺸ ﺮﻛﺔ ﺇﻟ ﻰ ﺣﻮﻛﻤ ﺔ ﻓﻌﺎﻟ ﺔ ﻟﺘﻘﻠﻴ ﻞ ﺍﺣﺘﻤ ﺎﻻﺕ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ‬
‫‪10,9‬‬ ‫‪5‬‬
‫ﺧﺎﺻﺔ ﺍﻻﺣﺘﻴﺎﻝ )‪ {52}(Jones,2011‬ﺇﻥ ﺧﺼﺎﺋﺺ ﺣﻮﻛﻤﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﺗﻠﻌ ﺐ‬
‫ﺇﺩﺍﺭﺓ ﻣﺎﻟﻴﺔ‬ ‫ﺩﻭﺭﺍ ﺣﻴﻮﻳ ﺎ ﻓ ﻲ ﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳـ ـﺔ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑـ ـﺎﺡ }‪{53‬ﻭﻋﻠ ﻰ ﺍﻟ ﺮﻏﻢ ﻣ ﻦ‬
‫‪13,0‬‬ ‫‪6‬‬ ‫ﺍﻟﺘﺨﺼﺺ‬ ‫ﻧﻘﺺ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﻭﻣﺤﺪﻭﺩﻳﺔ ﺍﻻﺳﺘﻘﻼﻝ ﻓﻲ ﺍﻟﻤﺮﺍﺟﻌ ﺔ ﻭﺍﻟﺘ ﻲ ﺗ ﺆﺩﻱ ﺇﻟ ﻰ‬
‫ﺍﻗﺘﺼﺎﺩ‬ ‫‪3‬‬
‫ﺍﻟﻌﻠﻤﻲ‬
‫‪10,9‬‬ ‫‪5‬‬ ‫ﻋ ﺪﻡ ﺍﻧﺘﻬ ﺎء ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺇﻻ ﺃﻥ ﻧﻈ ﺎﻡ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻟﺤ ﺎﻟﻲ ﻭﺣﻮﻛﻤ ﺔ‬
‫ﻋﻠﻮﻡ ﻣﺼﺮﻓﻴﺔ‬ ‫ﺍﻟﺸﺮﻛﺎﺕ ﺗﺤﺪ ﻣﻦ ﻧﻄﺎﻗﻬﺎ ﻓﻲ ﺍﻟﻌﺪﻳﺪ ﻣﻦ ﺍﻟﺠﻮﺍﻧﺐ}‪.{54‬‬
‫‪--‬‬ ‫‪--‬‬ ‫ﺃﺧﺮﻯ‬ ‫ﻳﺮﻯ ﺍﻟﺒﺎﺣﺚ ﻋﻄﻔﺎ ﻋﻠﻰ ﻣﺎ ﺳﺒﻖ ﺇﻥ ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻳﺴﺎﻫﻢ ﺭﻓﻊ‬
‫ﻛﻔﺎءﺓ ﺍﻟﻌﻤﻞ ﻭﺗﺤﺴﻴﻦ ﺃﺩﺍء ﺍﻟﺸﺮﻛﺎﺕ ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﻳﻜﻤﻦ ﻫﺬﻩ ﺍﻟﺸﺮﻛﺎﺕ ﻣﻦ‬
‫‪100‬‬ ‫‪46‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬
‫ﺍﻻﺳﺘﻤﺮﺍﺭﻳﺔ ﻭﺍﻟﻤﻨﺎﻓﺴﺔ ﻓﻲ ﺍﻟﺴﻮﻕ ﻭﻣﻮﺍﺟﻬﺔ ﺍﻷﺯﻣﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﻟﺼﻤﻮﺩ‬
‫‪--‬‬ ‫‪--‬‬ ‫ﺃﻗﻞ ﻣﻦ ‪ 5‬ﺳﻨﻮﺍﺕ‬ ‫ﺃﻣﺎﻣﻬﺎ ‪ ،‬ﻛﻤﺎ ﺗﻌﺘﺒﺮ ﺁﻟﻴﺎﺕ ﺍﻟﺤﻮﻛﻤﺔ ﻭ ﺍﻷﺳﺲ ﺍﻷﺧﻼﻗﻴﺔ ﻭﻣﻴﺜﺎﻕ ﺍﻟﻌﻤﻞ‬
‫‪6,5‬‬ ‫ﻭﺍﻟﺸﻔﺎﻓﻴﺔ ﺍﻟﺘﻲ ﺗﺘﻀﻤﻨﻬﺎ ﻣﺒﺎﺩﺉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻟﻬﺎ ﺩﻭﺭ ﻣﻬﻢ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ‬
‫‪2‬‬ ‫ﻣﻦ ‪ 10-5‬ﺳﻨﻮﺍﺕ‬
‫ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﺑﺎﻟﺘﺎﻟﻲ ﺍﻟﺤﺪ ﻣﻦ ﺗﺄﺛﻴﺮﺍﺗﻬﺎ ﺍﻟﺴﺎﻟﺒﺔ ﻋﻠﻰ ﺃﺭﻗﺎﻡ‬
‫‪37,0‬‬ ‫‪15‬‬ ‫ﻣﻦ‪ 15 - 11‬ﺳﻨﺔ‬ ‫ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ﻟﻴﺘﻤﻜﻦ ﺍﻟﻤﺴﺘﺨﺪﻣﻮﻥ ﻟﻬﺎ ﻣﻦ ﺍﺗﺨﺎﺫ ﻗﺮﺍﺭﺍﺗﻬﻢ ﺑﺼﻮﺭﺓ ﺻﺤﻴﺤﺔ‪.‬‬
‫ﺍﻟﺨﺒﺮﺓ ﺍﻟﻌﻠﻤﻴﺔ‬ ‫‪4‬‬ ‫‪ .5‬ﺍﻟﺪﺭﺍﺳﺔ ﺍﻟﻤﻴﺪﺍﻧﻴـﺔ‬
‫‪23,9‬‬ ‫‪11‬‬ ‫ﻣﻦ ‪ 20-16‬ﺳﻨﺔ‬
‫‪ 1.5‬ﻣﺠﺘﻤﻊ ﻭﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‬
‫‪32,6‬‬ ‫‪14‬‬ ‫ﺃﻛﺜﺮ ﻣﻦ ‪ 20‬ﺳﻨﺔ‬ ‫ﻳﺘﻜﻮﻥ ﻣﺠﺘﻤﻊ ﺍﻟﺪﺭﺍﺳﺔ ﻣﻦ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓ ﻲ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ‬
‫‪100‬‬ ‫‪46‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﺍﻟﻤﺎﻟﻴ ﺔ ﻭﻋ ﺪﺩﻫﺎ ‪ 59‬ﺷ ﺮﻛﺔ ﺑﺤﺴ ﺐ ﺍﻟﻌ ﺮﺽ ﺍﻻﻗﺘﺼ ﺎﺩﻱ ﻭﺍﻟﻤ ﺎﻟﻲ ﻳﻮﻟﻴ ﻮ –‬
‫ﻋﻀﻮ ﻣﺠﻠﺲ‬ ‫ﺳ ﺒﺘﻤﺒﺮ ‪2012‬ﻡ ﺍﻟﺼ ﺎﺩﺭ ﻣ ﻦ ﺇﺩﺍﺭﺓ ﺍﻹﺣﺼ ﺎء ‪-‬ﺑﻨ ﻚ ﺍﻟﺴ ﻮﺩﺍﻥ ﺍﻟﻤﺮﻛ ﺰﻱ ‪،‬‬
‫‪15,2‬‬ ‫‪7‬‬
‫ﺇﺩﺍﺭﺓ‬ ‫ﺣﻴﺚ ﺗﻢ ﺗﻮﺯﻳﻊ ‪ 59‬ﺍﺳﺘﺒﺎﻧﻪ ﺑﺎﺳﺘﺨﺪﺍﻡ ﺃﺳﻠﻮﺏ ﺍﻟﻤﺴﺢ ﺍﻟﺸﺎﻣﻞ ﻋﻠ ﻰ ﺍﻟﻤﺴ ﺘﻮﻯ‬
‫‪10,9‬‬ ‫‪5‬‬ ‫ﻣﺪﻳﺮ ﻋﺎﻡ‬
‫ﺍﻹﺩﺍﺭﻱ ﻋﻀ ﻮ ﻣﺠﻠ ﺲ ﺇﺩﺍﺭﺓ ‪ ،‬ﻣ ﺪﻳﺮ ﻋ ﺎﻡ ‪ ،‬ﻧﺎﺋ ﺐ ﻣ ﺪﻳﺮ ﻋ ﺎﻡ ﻭﻣ ﺪﻳﺮ ﻣ ﺎﻟﻲ‬
‫ﺍﻟﻮﺿﻊ‬ ‫ﻭﻛ ﺎﻥ ﺍﻟﻌﺎﺋ ﺪ ﻣﻨﻬ ﺎ ‪ 47‬ﺍﺳ ﺘﺒﺎﻧﻪ ﺑﻨﺴ ﺒﺔ ‪ %79.9‬ﻣ ﻦ ﺍﻻﺳ ﺘﺒﺎﻧﺎﺕ ﺍﻟﻤﻮﺯﻋ ﺔ‬
‫‪21,7‬‬ ‫‪10‬‬ ‫ﻧﺎﺋﺐ ﻣﺪﻳﺮ ﻋﺎﻡ‬ ‫‪5‬‬ ‫ﻭﻳﺸﻴﺮ ﺍﻟﺠﺪﻭﻝ ﺭﻗﻢ )‪ (1‬ﺇﻟﻰ ﺍﻻﺳﺘﺒﻴﺎﻧﺎﺕ ﺍﻟﻤﻮﺯﻋﺔ ﻭﺍﻟﻌﺎﺋﺪ ﻣﻨﻬﺎ‪.‬‬
‫ﺍﻟﻮﻅﻴﻔﻲ‬
‫‪52,2‬‬ ‫‪24‬‬ ‫ﻣﺪﻳﺮ ﻣﺎﻟﻲ‬ ‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(1‬‬
‫‪100‬‬ ‫‪46‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﻋﺪﺩ ﺍﻻﺳﺘﺒﻴﺎﻧﺎﺕ ﺍﻟﻤﻮﺯﻋﺔ ﻋﻠﻰ ﻣﺠﺘﻤﻊ ﺍﻟﺪﺭﺍﺳﺔ ﻭﻧﺴﺒﺔ ﺍﻟﻌﺎﺋﺪ ﻣﻨﻬﺎ‬

‫‪ 2.5‬ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺍﺳ ﺘﺨﺪﻡ ﺍﻟﺒﺎﺣ ﺚ ﺍﺳ ﺘﺒﺎﻧﺔ ﻟﺘﺤﻘﻴ ﻖ ﻟﺠﻤ ﻊ ﺍﻟﺒﻴﺎﻧ ﺎﺕ ﺍﻷﻭﻟﻴ ﺔ ﻭﺃﻫ ﺪﺍﻑ ﺍﻟﺪﺭﺍﺳ ﺔ‬
‫ﻭﻗﺴ ﻤﺖ ﺍﻻﺳ ﺘﺒﺎﻧﺔ ﺇﻟ ﻰ ﻗﺴ ﻤﻴﻦ ﺍﻟﻘﺴ ﻢ ﺍﻷﻭﻝ ﻳﺘﻜ ﻮﻥ ﻣ ﻦ ﺍﻟﺒﻴﺎﻧ ﺎﺕ ﺍﻟﺸﺨﺼ ﻴﺔ‬
‫ﻟﻌﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﻭﺍﻟﻘﺴﻢ ﺍﻟﺜ ﺎﻧﻲ ﻳﺘﻨ ﺎﻭﻝ ﻣﺤ ﻮﺭﻱ ﺍﻟﺪﺭﺍﺳ ﺔ ﻭﺍﻟﺘ ﻲ ﺗﺘﻀ ﻤﻦ ﺇﺣ ﺪﻯ‬
‫ﻋﺸﺮﺓ ﺳﺆﺍﻻً ‪ ،‬ﺳﺘﺔ ﺃﺳﺌﻠﺔ ﻟﻠﻤﺤﻮﺭ ﺍﻷﻭﻝ ﻭﺧﻤﺴﺔ ﺃﺳﺌﻠﺔ ﻟﻠﻤﺤﻮﺭ ﺍﻟﺜﺎﻧﻲ‪.‬‬
 ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬ ‫‪69‬‬

‫ﺑﺎﻹﻣﻜﺎﻥ ﺗﺼﻨﻴﻒ ﻗﻴﻢ ﺍﻷﻭﺳ ﺎﻁ ﺍﻟﺤﺴ ﺎﺑﻴﺔ ﻟﻜ ﻞ ﺑﻨ ﺪ ﻣ ﻦ ﺑﻨ ﻮﺩ ﻣﺤ ﺎﻭﺭ ﺍﻟﺪﺭﺍﺳ ﺔ‬ ‫‪ 3.5‬ﺧﺼﺎﺋﺺ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﻭﻛﺬﻟﻚ ﻟﻠﻤﺘﻮﺳﻂ ﺍﻟﻜﻠﻲ ﻟﻠﺪﺭﺍﺳﺔ ﻛﻤﺎ ﻳﻠﻲ ‪:‬‬ ‫ﺑﺎﻟﻨﻈﺮ ﺇﻟﻰ ﺍﻟﺠﺪﻭﻝ ﺭﻗﻢ )‪ (2‬ﻳﺘﻀﺢ ﺃﻥ ‪ %54,30‬ﻣﻦ ﺃﻓ ﺮﺍﺩ ﺍﻟﻌﻴﻨ ﺔ ﺗﻘ ﻊ ﻓ ﻲ‬
‫‪ -‬ﻣﻦ ‪ 1,00‬ﺇﻟﻲ ﺃﻗﻞ ﻣﻦ ‪ 1.80‬ﻳﻤﺜﻞ ﻻ ﺃﻭﺍﻓﻖ ﺑﺸﺪﺓ‪.‬‬ ‫ﺍﻟﻔﺌﺔ ﺍﻟﻌﻤﺮﻳﺔ ﺃﻛﺜﺮ ﻣﻦ ‪ 45‬ﺳﻨﺔ ‪ ،‬ﻭﺃﻛﺜﺮ ﺃﻓﺮﺍﺩ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﻣﻦ ﺣﻤﻠﺔ ﻣﺆﻫﻞ‬
‫‪ -‬ﻣﻦ ‪ 1,80‬ﺇﻟﻲ ﺃﻗﻞ ﻣﻦ ‪ 2.60‬ﻳﻤﺜﻞ ﻻ ﺃﻭﺍﻓﻖ‪.‬‬ ‫ﺍﻟﻤﺎﺟﺴ ﺘﻴﺮ ﺇﺫ ﻳﻤﺜﻠ ﻮﻥ ﻧﺴ ﺒﺔ‪ ، %39,10‬ﻭﺃﻛﺜ ﺮ ﺃﻓ ﺮﺍﺩ ﻋﻴﻨ ﺔ ﺍﻟﺪﺭﺍﺳ ﺔ ﺍﻟ ﺬﻳﻦ‬
‫ﺗﺨﺼﺼ ﻬﻢ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺣﻴ ﺚ ﻳﻤﺜﻠ ﻮﻥ ﻧﺴ ﺒﺔ‪ %39,10‬ﺃﻳﻀ ﺎ ً ‪ ،‬ﻭﺃﻛﺜ ﺮ ﺃﻓ ﺮﺍﺩ‬
‫‪ -‬ﻣﻦ ‪ 2.60‬ﺇﻟﻲ ﺃﻗﻞ ﻣﻦ ‪ 3,40‬ﻳﻤﺜﻞ ﻣﺤﺎﻳﺪ‪.‬‬
‫ﺍﻟﻌﻴﻨﺔ ﺧﺒﺮﺓ ﺗﻘﻊ ﻓﻲ ﺍﻟﻔﺌﺔ ﻣﻦ ‪ 15-11‬ﺳﻨﺔ ﺑﻨﺴﺒﺔ ‪ ، %37‬ﻭ ﺍﻟﻤﺪﺭﺍء ﺍﻟﻤ ﺎﻟﻴﻴﻦ‬
‫‪ -‬ﻣﻦ ‪ 3.40‬ﺇﻟﻲ ﺃﻗﻞ ﻣﻦ ‪ 4,20‬ﻳﻤﺜﻞ ﺃﻭﺍﻓﻖ‪.‬‬ ‫ﻳﻤﺜﻠﻮﻥ ﻧﺴﺒﺔ ‪ % 52,20‬ﻣﻦ ﺃﻓﺮﺍﺩ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‪.‬‬
‫‪ -‬ﻣﻦ ‪ 4.20‬ﺇﻟﻲ ﺃﻗﻞ ﻣﻦ ‪ 5‬ﻳﻤﺜﻞ ﺃﻭﺍﻓﻖ ﺑﺸﺪﺓ‪.‬‬ ‫‪ 4.5‬ﺻﺪﻕ ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺍﺳﺘﺨﺪﻡ ﺍﻟﺒﺎﺣﺚ ﻋﺪﺩ ﻣﻦ ﺍﻷﺳﺎﻟﻴﺐ ﺍﻟﻜﻤﻴﺔ ﻭﺍﻹﺣﺼﺎﺋﻴﺔ ﺍﻟﻤﻨﺎﺳ ﺒﺔ ﻭﻓﻘ ﺎ ً ﻟﻄﺒﻴﻌ ﺔ‬ ‫ﺍﻋﺘﻤﺪ ﺍﻟﺒﺎﺣ ﺚ ﻓ ﻲ ﺍﻟﺘﺄﻛ ﺪ ﻣ ﻦ ﺍﻟﺼ ﺪﻕ ﺍﻟﻈ ﺎﻫﺮﻱ ﻟﻼﺳ ﺘﺒﺎﻧﺔ ﻋﻠ ﻰ ﺍﻟﻤﺤﻜﻤ ﻴﻦ ‪،‬‬
‫ﺗﺴ ﺎﺅﻻﺕ ﺍﻟﺪﺭﺍﺳ ﺔ ﻭﻣﺴ ﺘﻮﻯ ﻗﻴ ﺎﺱ ﺍﻟﻤﺘﻐﻴ ﺮﺍﺕ ﺍﻟﻜﻠﻴ ﺔ ﻟﻠﺪﺭﺍﺳ ﺔ ﻣﺘﻤﺜﻠ ﺔ ﻓ ﻲ‬ ‫ﻋﺪﺩ ﻣ ﻦ ﺍﻷﻛ ﺎﺩﻳﻤﻴﻴﻦ ﻭﺍﻟﻤﺨﺘﺼ ﻴﻦ ﻣ ﻦ ﻣﻨﺎﺳ ﺒﺘﻬﺎ ﻟﻠﻐ ﺮﺽ ﺍﻟ ﺬﻱ ُﻭﺿ ﻌﺖ ﻣ ﻦ‬
‫ﺍﻟﺘﻮﺯﻳﻌﺎﺕ ﺍﻟﺘﻜﺮﺍﺭﻳﺔ ‪ ،‬ﺍﻟﺠ ﺪﺍﻭﻝ ﺍﻹﺣﺼ ﺎﺋﻴﺔ ‪ ،‬ﺍﻻﻧﺤ ﺮﺍﻑ ﺍﻟﻤﻌﻴ ﺎﺭﻱ ﻭﺍﻟﻤ ﺪﻯ‬ ‫ﺃﺟﻠﻪ ﻭﻣﻦ ﺣﻴﺚ ﺍﻟﻮﺿﻮﺡ ﻭﺍﻟﺘﻨﻈﻴﻢ ﻭﺍﻟﻤﻼﺋﻤﺔ‪ ،‬ﻭﻗﺪ ﺗﻔﻀ ﻠﻮﺍ ﻣﺸ ﻜﻮﺭﻳﻦ ﺑﺈﺑ ﺪﺍء‬
‫ﺑﺎﻹﺿ ﺎﻓﺔ ﺇﻟ ﻰ ﻣﻘ ﺎﻳﻴﺲ ﺍﻟﻨﺰﻋ ﺔ ﺍﻟﻤﺮﻛﺰﻳ ﺔ ‪measures of central‬‬ ‫ﻣﻼﺣﻈ ﺎﺗﻬﻢ ﻭﻣﻘﺘﺮﺣ ﺎﺗﻬﻢ‪ ،‬ﻭﻗ ﺪ ﺗ ﻢ ﺃﺧ ﺬﻫﺎ ﺑﻌ ﻴﻦ ﺍﻻﻋﺘﺒ ﺎﺭ ‪ ،‬ﺃﻅﻬ ﺮﺕ ﻧﺘ ﺎﺋﺞ‬
‫‪tendency‬ﻭﺍﺳﺘﺨﺪﺍﻡ ﺗﺤﻠﻴﻞ ﺍﻟﺘﺒﺎﻳﻦ)‪(ANOVA‬ﻹﻳﺠ ﺎﺩ ﺍﻟﻔ ﺮﻭﻕ ﺍﻹﺣﺼ ﺎﺋﻴﺔ‬ ‫ﻣﻌﺎﻣﻞ ﺍﻻﺭﺗﺒﺎﻁ ﻟﻼﺗﺴﺎﻕ ﺍﻟﺪﺍﺧﻠﻲ ﻟﻠﻔﻘﺮﺍﺕ ﺃﻥ ﻗﻴﻤ ﺔ ﻣﻌﺎﻣ ﻞ ﺍﻻﺭﺗﺒ ﺎﻁ ﺑ ﻴﻦ ﻛ ﻞ‬
‫ﺑ ﻴﻦ ﻣﺠﻤﻮﻋ ﺎﺕ ﺍﻟﺪﺭﺍﺳ ﺔ ﺍﻟﻤﺘﻤﺜﻠ ﺔ ﻓ ﻲ ﺍﻟﻌﻼﻗ ﺔ ﺑ ﻴﻦ ﻣﺤ ﺎﻭﺭ ﺍﻟﺪﺭﺍﺳ ﺔ ﻭﻓﻘ ﺎ ً‬ ‫ﻋﺒ ﺎﺭﺓ ﻣ ﻦ ﻋﺒ ﺎﺭﺍﺕ ﺍﻟﻤﺤ ﻮﺭ ﺍﻷﻭﻝ ﻭﺍﻟﻤﺤ ﻮﺭ ﺍﻟﺜ ﺎﻧﻲ ﻫ ﻲ ﺩﺍﻟ ﺔ ﺇﺣﺼ ﺎﺋﻴﺎ ً ﻋﻨ ﺪ‬
‫ﻟﻠﻤﺘﻐﻴﺮﺍﺕ ﺍﻟﺸﺨﺼﻴﺔ ﻭﺍﻟﻮﻅﻴﻔﻴﺔ ﻭﻫﻮ ﻣﺎ ﻭﺭﺩ ﺑﺎﻟﻔﺮﺽ ﺍﻟﺜﺎﻟﺚ‪.‬‬ ‫ﻣﺴﺘﻮﻯ )‪ ،( 0,01‬ﻣﻤﺎ ﻳﺪﻝ ﻋﻠﻰ ﺍﻻﺗﺴﺎﻕ ﺍﻟﺪﺍﺧﻠﻲ ﺑﻴﻦ ﻛﻞ ﻋﺒﺎﺭﺓ ﻣ ﻦ ﻋﺒ ﺎﺭﺍﺕ‬
‫‪ 7.5‬ﺗﺤﻠﻴﻞ ﺍﻟﺒﻴﺎﻧﺎﺕ ﻭﺍﺧﺘﺒﺎﺭ ﺍﻟﻔﺮﺿﻴﺎﺕ‬ ‫ﺍﻟﻤﺤﻮﺭ ﻭﺑﺎﻗﻲ ﻣﺠﻤﻮﻉ ﻋﺒﺎﺭﺍﺕ ﺍﻟﻤﺤﻮﺭ‪ ،‬ﻭﻫﻮ ﻣﺎ ﻳﻌﻜﺲ ﺻ ﺪﻕ ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳ ﺔ‬
‫ﺃﻱ ﻗﻴﺎﺳﻬﺎ ﻟﻤﺎ ﺻﻤﻤﺖ ﻟﻘﻴﺎﺳﻪ ﺃﺻﻼً‪.‬‬
‫ﺗﻢ ﺍﺳﺘﺨﺮﺍﺝ ﺍﻟﻮﺳﻂ ﺍﻟﺤﺴﺎﺑﻲ ﻭﺍﻻﻧﺤﺮﺍﻑ ﺍﻟﻤﻌﻴﺎﺭﻱ ﻷﺳ ﺌﻠﺔ ﺍﻟﺪﺭﺍﺳ ﺔ ﻻﺧﺘﺒ ﺎﺭ‬
‫ﺍﻟﻔﺮﺿﻴﺎﺕ ﻛﻤﺎ ﻳﻠﻲ ‪:‬‬ ‫‪ 5.5‬ﺛﺒﺎﺕ ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳﺔ‬
‫ﺍﺳ ﺘﺨﺪﻡ ﺍﻟﺒﺎﺣ ﺚ )ﻣﻌﺎﺩﻟ ﺔ ﺃﻟﻔ ﺎ ﻛﺮﻭﻧﺒ ﺎﺥ‪ (Alpha Cronbach's‬ﻟﻠﺘﺄﻛ ﺪ ﻣ ﻦ‬
‫‪ 1.7.5‬ﺍﻟﻔﺮﺿﻴﺔ ﺍﻷﻭﻟﻰ‪:‬‬ ‫ﺛﺒﺎﺕ ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳﺔ‪ ،‬ﺣﻴﺚ ﺗﻢ ﺗﻄﺒﻴﻖ ﺍﻟﻤﻌﺎﺩﻟ ﺔ ﻋﻠ ﻰ ﺍﻟﻤﺠﺘﻤ ﻊ ﺍﻟ ﺬﻱ ُﺳ ِﺤﺒﺖ ﻣﻨ ﻪ‬
‫ﻭﻫﻲ ‪ :‬ﺗﺪﺭﻙ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ ﺗ ﺄﺛﻴﺮ‬ ‫ﺍﻟﻌﻴﻨﺔ ﻓﻲ ﺍﻟﺴﺎﺑﻖ ﻟﻘﻴﺎﺱ ﺍﻟﺼﺪﻕ ﺍﻟﺒﻨﺎﺋﻲ‪ ،‬ﻭﺍﻟﺠﺪﻭﻝ ﺍﻟﺘﺎﻟﻲ ﻳﻮﺿﺢ ﺫﻟﻚ‪:‬‬
‫ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪.‬‬
‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(3‬‬
‫ﻭﺍﻟﺘﻲ ﺧﺼﺺ ﻟﻬﺎ ﺳ ﺘﺔ ﻋﺒ ﺎﺭﺍﺕ ﻭ ﻳﻮﺿ ﺢ ﺍﻟﺠ ﺪﻭﻝ ﺭﻗ ﻢ )‪ (4‬ﺇﻥ ﺃﻓ ﺮﺍﺩ ﻋﻴﻨ ﺔ‬ ‫ﻣﻌﺎﻣﻼﺕ ﺃﻟﻔﺎ ﻛﺮﻭﻧﺒﺎﺥ ﻟﻠﺜﺒﺎﺕ ﻟﻜﺎﻣﻞ ﺍﻻﺳﺘﺒﺎﻧﺔ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﻳﻮﺍﻓﻘﻮﻥ ﺑﺸﺪﺓ ﻭﺑﻤﺘﻮﺳﻂ ﺣﺴ ﺎﺑﻲ ﻋ ﺎﻡ ﻳﺒﻠ ﻎ ‪ 4,28‬ﻋﻠ ﻰ ﺇﻥ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ ﺗ ﺪﺭﻙ ﺗ ﺄﺛﻴﺮ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ‬ ‫ﻗﻴﻤﺔ‬ ‫ﻋﺪﺩ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ‪ ،‬ﺣﻴﺚ ﺇﻥ ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻳﺠﻌ ﻞ‬ ‫ﻥ‬ ‫ﺍﻟﻤﺤﺎﻭﺭ‬
‫ﺃﻟﻔﺎ ﺍﻟﻘﻴﺎﺳﻴﺔ‬ ‫ﺍﻟﻌﺒﺎﺭﺍﺕ‬
‫ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺗﺘﺴﻢ ﺑﺎﻟﻤﻼﺋﻤﺔ ﻭﺍﻟﺜﺒﺎﺕ ﻓﻲ ﺍﻟﻘﻴﺎﺱ ﺍﻟﻤﺤﺎﺳ ﺒﻲ ﻭﺍﻟﺼ ﺪﻕ‬
‫ﻭﺍﻟﺪﻗﺔ ﻭﺗﺘﻤﻴﺰ ﺑﺎﻹﻓﺼﺎﺡ ﻋﻦ ﻛﺎﻓﺔ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻀﺮﻭﺭﻳﺔ ﻓﻲ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ‪.‬‬ ‫ﺇﺩﺭﺍﻙ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ‬
‫‪ 2.7.5‬ﺍﻟﻔﺮﺿﻴﺔ ﺍﻟﺜﺎﻧﻴﺔ‪:‬‬ ‫ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ‬ ‫ﺍﻟﻤﺤﻮﺭ‬
‫ﻭﻫﻲ ‪ :‬ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ‬ ‫‪46‬‬ ‫ﺍﻟﻤﺎﻟﻴﺔ ﻟﺘﺄﺛﻴﺮ ﺗﻄﺒﻴﻖ‬ ‫ﺍﻷﻭﻝ‬
‫‪0,7309‬‬ ‫‪6‬‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﻳﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬ ‫ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ‬
‫ﻭﺍﻟﺘﻲ ﺧﺼﺺ ﻟﻬﺎ ﺧﻤﺴﺔ ﻋﺒﺎﺭﺍﺕ ‪ ،‬ﻛﻤﺎ ﻫﻮ ﻣﻮﺿﺢ ﻓﻲ ﺍﻟﺠﺪﻭﻝ ﺭﻗﻢ )‪(5‬‬ ‫ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ‬
‫ﻭﺍﻟﺬﻱ ﻳﺸﻴﺮ ﺇﻟﻰ ﺃﻥ ﺃﻓﺮﺍﺩ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﻳﻮﺍﻓﻘﻮﻥ ﺑﺸﺪﺓ ﻭﺑﻤﺘﻮﺳﻂ ﺣﺴﺎﺑﻲ ﻋﺎﻡ‬ ‫ﺍﻟﻤﻌﻠﻮﻣﺎﺕ‬
‫ﻳﺒﻠﻎ ‪ 4,26‬ﻋﻠﻰ ﺇﻥ ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ‬ ‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬
‫ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻳﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ‪ ،‬ﺣﻴﺚ‬ ‫ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ‬
‫ﻭﺟﻮﺩ ﺇﻁﺎﺭ ﻓﻌﺎﻝ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺗﻄﺒﻴﻖ ﻣﺒﺪﺃ ﺣﻤﺎﻳﺔ ﺍﻟﻤﺴﺎﻫﻤﻴﻦ‬ ‫ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﻭﺍﻟﻤﺴﺎﻭﺍﺓ ﺑﻴﻨﻬﻢ ﻭﺍﻻﻋﺘﺮﺍﻑ ﺑﺤﻘﻮﻕ ﺃﺻﺤﺎﺏ ﺍﻟﻤﺼﻠﺤﺔ ﻭﺗﻄﺒﻴﻖ ﻣﺒﺪﺃ‬ ‫‪46‬‬ ‫ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ‬ ‫ﺍﻟﻤﺤﻮﺭ‬
‫‪0,7094‬‬ ‫‪5‬‬
‫ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ‬ ‫ﺍﻟﺜﺎﻧﻲ‬
‫ﺍﻹﻓﺼﺎﺡ ﻭﺍﻟﺸﻔﺎﻓﻴﺔ ﻭﻓﻘﺎ ً ﻟﻤﺒﺎﺩﺉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻳﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ‬ ‫ﻟﻠﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ‪.‬‬ ‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(4‬‬
‫ﺍﻻﺳﺘﺠﺎﺑﺎﺕ ﻟﻌﺒﺎﺭﺍﺕ ﺍﻟﻤﺤﻮﺭ ﺍﻷﻭﻝ‬ ‫‪0,7138‬‬ ‫‪11‬‬ ‫‪46‬‬ ‫ﻛﺎﻣﻞ ﺍﻻﺳﺘﺒﺎﻧﺔ‬
‫)ﺇﺩﺭﺍﻙ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻟﺘﺄﺛﻴﺮ‬
‫ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ(‬ ‫ﻳﺘﻀﺢ ﻣﻦ ﺍﻟﺠ ﺪﻭﻝ ﺭﻗ ﻢ )‪ (3‬ﺃﻋ ﻼﻩ ﺃﻥ ﻣﻌ ﺎﻣﻼﺕ ﺍﻟﺜﺒ ﺎﺕ ﻟﻠﻤﺤ ﺎﻭﺭ ﺗﺮﺍﻭﺣ ﺖ‬
‫ﻗﻴﻤﻬ ﺎ ﺑ ﻴﻦ )‪ 0,7094‬ﻭ ‪ (0,7309‬ﻭﻫ ﻲ ﻗ ﻴﻢ ﺟﻴ ﺪ ﺟ ﺪﺍً ﺇﺣﺼ ﺎﺋﻴﺎً‪ ،‬ﻣ ﻊ ﺃﻥ‬
‫ﺍﻻﻧﺤﺮﺍﻑ‬
‫ﺍﻟﻤﻌﻴﺎﺭﻱ‬

‫ﺍﻟﻤﺘﻮﺳﻂ‬
‫ﺍﻟﺤﺴﺎﺑﻲ‬

‫ﻣﻌﺎﻣﻞ ﺃﻟﻔﺎ ﻛﺮﻭﻧﺒﺎﺥ ﻟﻜﺎﻣﻞ ﺍﻻﺳﺘﺒﺎﻧﺔ ﻗﺪ ﺑﻠﻎ )‪ (0,7138‬ﻭﻫ ﻲ ﻗﻴﻤ ﺔ ﺇﺣﺼ ﺎﺋﻴﺎ ً‬
‫ﺍﻟﺘﺮﺗﻴﺐ‬

‫ﺍﻟﻌﺒﺎﺭﺓ‬
‫ﺃﻳﻀﺎ ً ﺟﻴ ﺪﺓ ﺟ ﺪﺍً ﻟﺘﻄﺒﻴ ﻖ ﺍﻷﺩﺍﺓ ﻋﻠ ﻰ ﺍﻟﻔﺌ ﺔ ﺍﻟﻤﺒﺤﻮﺛ ﺔ ﻭﻫ ﺬﺍ ﻳﺸ ﻴﺮ ﺇﻟ ﻰ ﺇﻣﻜﺎﻧﻴ ﺔ‬
‫ﺛﺒﺎﺕ ﺍﻟﻨﺘﺎﺋﺞ ﺍﻟﺘﻲ ﻳﻤﻜﻦ ﺍﻟﺤﺼﻮﻝ ﻋﻠﻴﻬﺎ ﻣﻦ ﺧﻼﻝ ﺃﺩﺍﺓ ﺍﻟﺪﺭﺍﺳﺔ ﻋﻨﺪ ﺗﻄﺒﻴﻘﻬﺎ‪.‬‬
‫‪ .1‬ﺧﺎﺻ ﻴﺔ ﻣﻼﺋﻤ ﺔ ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ‬
‫ﻭﺗﻮﻓﺮﻫ ﺎ ﻓ ﻲ ﺍﻟﻮﻗ ﺖ ﺍﻟﻤﻨﺎﺳ ﺐ‬ ‫‪ 6.5‬ﺍﻷﺳﺎﻟﻴﺐ ﺍﻹﺣﺼﺎﺋﻴﺔ ﺍﻟﻤﺘﺒﻌﺔ ﻓﻲ ﺗﺤﻠﻴﻞ ﺍﻟﺒﻴﺎﻧﺎﺕ‬
‫‪5‬‬ ‫‪0,363‬‬ ‫‪4,15‬‬ ‫ﺗ ﺆﺛﺮ ﺍﻳﺠﺎﺑ ﺎ ً ﻋﻠ ﻰ ﺟ ﻮﺩﺓ‬ ‫ﻗ ﺎﻡ ﺍﻟﺒﺎﺣ ﺚ ﺑﻌﻤﻠﻴ ﺔ ﻣﺮﺍﺟﻌ ﺔ ﺍﻟﺒﻴﺎﻧ ﺎﺕ ﺍﻟﻤﻌﺒ ﺄﺓ ﺑﺎﻻﺳ ﺘﺒﺎﻧﺔ ﻣ ﻦ ﺃﺟ ﻞ ﺍﻟﺘ ﺪﻗﻴﻖ‬
‫ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﻟﻠﺸ ﺮﻛﺎﺕ‬ ‫ﻭﺍﺳ ﺘﺒﻌﺎﺩ ﺍﻻﺳ ﺘﺒﺎﻧﺎﺕ ﻏﻴ ﺮ ﺍﻟﻤﻜﺘﻤﻠ ﺔ ﻟﻴﺴ ﻬﻞ ﺇﺩﺧ ﺎﻝ ﻣﺘﻐﻴ ﺮﺍﺕ ﺍﻟﺪﺭﺍﺳ ﺔ‬
‫ﺍﻟﺘﻲ ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬ ‫ﻟﻠﺤﺎﺳﻮﺏ ﻟﺘﺤﻠﻴﻠﻬﺎ ﺑﻮﺍﺳﻄﺔ ﺑﺮﻧﺎﻣﺞ ‪ .SPSS‬ﺗﻢ ﺍﻟﺘﻌﺎﻣﻞ ﻣﻊ ﺍﻟﺒﻴﺎﻧﺎﺕ ﺑﻤﺴ ﺘﻮﻯ‬
‫‪ .2‬ﺧﺎﺻ ﻴﺔ ﺍﻟﺜﺒ ﺎﺕ ﻓ ﻲ ﺍﻟﻘﻴ ﺎﺱ‬ ‫ﺩﻻﻟﺔ )‪ 0.05‬ﻭ ‪ (0.01‬ﻟﻮﺻﻒ ﻭﺗﺤﻠﻴﻞ ﺑﻴﺎﻧﺎﺕ ﺍﻟﺪﺭﺍﺳﺔ‪.‬‬
‫‪3‬‬ ‫‪0,431‬‬ ‫‪4,24‬‬ ‫ﺍﻟﻤﺤﺎﺳ ﺒﻲ ﺗ ﺆﺛﺮ ﺍﻳﺠﺎﺑ ﺎ ً ﻋﻠ ﻰ‬ ‫ﻗﺎﻡ ﺍﻟﺒﺎﺣﺚ ﺑﺘﺮﻣﻴﺰ ﺍﺳﺘﺠﺎﺑﺎﺕ ﺍﻟﻔﺌﺔ ﺍﻟﻤﺒﺤﻮﺛﺔ ﻭﺗﻢ ﺗﺤﺪﻳﺪ ﻁﻮﻝ ﺧﻼﻳ ﺎ ﺍﻟﻤﻘﻴ ﺎﺱ‬
‫ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ ﻟﻠﺸ ﺮﻛﺎﺕ ﺍﻟﺘ ﻲ‬ ‫ﻟﻴﻜ ﺮﺕ ﺍﻟﺨﻤﺎﺳ ﻲ )‪) (Likert Scale‬ﺍﻟﺤ ﺪﻭﺩ ﺍﻟ ﺪﻧﻴﺎ ﻭﺍﻟﻌﻠﻴ ﺎ ( ﺗ ﻢ ﺣﺴ ﺎﺏ‬
‫ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬ ‫ﺍﻟﻤ ﺪﻯ = )‪ (0,80‬ﻭﺫﻟ ﻚ ﻟﺘﺤﺪﻳ ﺪ ﺍﻟﺤ ﺪ ﺍﻷﻋﻠ ﻰ ﻟﻬ ﺬﻩ ﺍﻟﺨﻠﻴ ﺔ ﻭﻫﻜ ﺬﺍ ﺃﺻ ﺒﺢ‬
‫‪70‬‬ ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬

‫‪ 3.7.5‬ﺍﻟﻔﺮﺿﻴﺔ ﺍﻟﺜﺎﻟﺜﺔ‪:‬‬ ‫‪ .3‬ﺧﺎﺻ ﻴﺔ ﺍﻟﺜﻘ ﺔ ﻭﺍﻟﺼ ﺪﻕ ﻓ ﻲ‬

‫ﻭﻫ ﻲ ‪ :‬ﺗﻮﺟ ﺪ ﻓ ﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟ ﺔ ﺇﺣﺼ ﺎﺋﻴﺔ ﻋﻨ ﺪ ﻣﺴ ﺘﻮﻯ ﺩﻻﻟ ﺔ )‪ (0,05‬ﻓ ﻲ‬ ‫‪4‬‬ ‫‪0,417‬‬ ‫‪4,22‬‬ ‫ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﺗ ﺆﺛﺮ‬
‫ﺁﺭﺍء ﻋﻴﻨ ﺔ ﺍﻟﺪﺭﺍﺳ ﺔ ﺣ ﻮﻝ ﺩﻭﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺔ‬ ‫ﺍﻳﺠﺎﺑ ﺎ ً ﻋﻠ ﻰ ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫ﺃﺳ ﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺗﻌ ﺰﻱ ﻟﻤﺘﻐﻴ ﺮﻱ ﺍﻟﻤﺆﻫ ﻞ ﺍﻟﻌﻠﻤ ﻲ ﻭﺍﻟﻮﺿ ﻊ‬ ‫ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﺘﻲ ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬
‫ﺍﻟﻮﻅﻴﻔﻲ‪.‬‬ ‫‪ .4‬ﺧﺎﺻ ﻴﺔ ﺍﻟﺜﺒ ﺎﺕ ﻓ ﻲ ﺍﻹﻓﺼ ﺎﺡ‬
‫‪2‬‬ ‫‪0,465‬‬ ‫‪4,30‬‬ ‫ﻋﻦ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﺗ ﺆﺛﺮ‬
‫‪ 1.3.7.5‬ﺃﺛﺮ ﻣﺘﻐﻴﺮ ﺍﻟﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ ﻋﻠﻰ ﺍﺳﺘﺠﺎﺑﺎﺕ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‪:‬‬ ‫ﺍﻳﺠﺎﺑ ﺎ ً ﻋﻠ ﻰ ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(6‬‬ ‫ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﺘﻲ ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬
‫ﻧﺘﺎﺋﺞ ﺗﺤﻠﻴﻞ ﺍﻟﺘﺒﺎﻳﻦ ﺍﻷﺣﺎﺩﻱ ‪ One-Way ANOVA‬ﻓﻲ ﺿﻮء ﻣﺘﻐﻴﺮ‬ ‫‪ .5‬ﺧﺎﺻ ﻴﺔ ﺍﻟﺪﻗ ﺔ ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ‬
‫ﺍﻟﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ‬ ‫ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﺗ ﺆﺛﺮ ﺍﻳﺠﺎﺑ ﺎ ً ﻋﻠ ﻰ‬
‫‪6‬‬ ‫‪0,363‬‬ ‫‪4,15‬‬
‫ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ ﻟﻠﺸ ﺮﻛﺎﺕ ﺍﻟﺘ ﻲ‬
‫ﺍﻹﺣﺼﺎﺋﻴﺔ‬

‫ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬
‫ﺍﻟﻤﺮﺑﻌﺎﺕ‬

‫ﺍﻟﻤﺮﺑﻌﺎﺕ‬
‫ﻗﻴﻤﺔ ﻑ‬

‫ﻣﺠﻤﻮﻉ‬
‫ﻣﺘﻮﺳﻂ‬

‫ﺩﺭﺟﺎﺕ‬
‫ﺍﻟﺤﺮﻳﺔ‬
‫ﺍﻟﺪﻻﻟﺔ‬

‫ﺍﻟﺒﻴﺎﻥ‬ ‫ﺍﻟﻤﺤﻮﺭ‬ ‫‪ .6‬ﺍﻹﻓﺼ ﺎﺡ ﻋ ﻦ ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ‬

‫‪1‬‬ ‫‪0,532‬‬ ‫‪4,63‬‬ ‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﺠﻮﻫﺮﻳ ﺔ ﻳ ﺆﺛﺮ ﺍﻳﺠﺎﺑ ﺎ ً‬
‫ﻋﻠ ﻰ ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ ﻟﻠﺸ ﺮﻛﺎﺕ‬
‫ﺑﻴﻦ‬ ‫ﺇﺩﺭﺍﻙ ﺍﻟﺸﺮﻛﺎﺕ‬ ‫ﺍﻟﺘﻲ ﺗﻄﺒﻖ ﺍﻟﺤﻮﻛﻤﺔ‬
‫‪0,018‬‬ ‫‪2‬‬ ‫‪0,055‬‬
‫ﺍﻟﻤﺠﻤﻮﻋﺎﺕ‬ ‫ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ‬
‫ﺩﺍﺧﻞ‬ ‫ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬ ‫‪4,28‬‬ ‫ﺍﻟﻤﺘﻮﺳﻂ ﺍﻟﺤﺴﺎﺑﻲ ﺍﻟﻌﺎﻡ‬
‫‪0,079‬‬ ‫‪43‬‬ ‫‪3,327‬‬ ‫ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫ﺍﻟﻤﺠﻤﻮﻋﺎﺕ‬
‫ﻟﺘ ﺄﺛﻴﺮ ﺗﻄﺒﻴ ﻖ‬
‫‪0,874‬‬ ‫‪0,231‬‬
‫ﺎﺕ‬ ‫ﻣﺘﻄﻠﺒ‬ ‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(5‬‬
‫ﺔ‬ ‫ﺣﻮﻛﻤ‬ ‫ﺍﻻﺳﺘﺠﺎﺑﺎﺕ ﻟﻌﺒﺎﺭﺍﺕ ﺍﻟﻤﺤﻮﺭ ﺍﻟﺜﺎﻧﻲ‬
‫‪45‬‬ ‫‪3,382‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﺍﻟﺸ ﺮﻛﺎﺕ ﻋﻠ ﻰ‬
‫)ﺗﺄﺛﻴﺮ ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ‬
‫ﻮﺩﺓ‬ ‫ﺟ‬
‫ﺎﺕ‬ ‫ﺍﻟﻤﻌﻠﻮﻣ‬
‫ﻟﻸﻭﺭﺍﻕ ﻟﻠﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ(‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬

‫ﺍﻻﻧﺤﺮﺍﻑ‬
‫ﺍﻟﻤﻌﻴﺎﺭﻱ‬

‫ﺍﻟﻤﺘﻮﺳﻂ‬
‫ﺍﻟﺤﺴﺎﺑﻲ‬
‫ﺍﻟﺘﺮﺗﻴﺐ‬
‫ﺑﻴﻦ‬ ‫ﻖ‬ ‫ﺗﻄﺒﻴ‬ ‫ﺍﻟﻌﺒﺎﺭﺓ‬
‫‪0,016‬‬ ‫‪2‬‬ ‫‪0,049‬‬
‫ﺍﻟﻤﺠﻤﻮﻋﺎﺕ‬ ‫ﺎﺕ‬ ‫ﻣﺘﻄﻠﺒ‬
‫ﺩﺍﺧﻞ‬ ‫ﺮﻛﺎﺕ‬ ‫ﺍﻟﺸ‬
‫‪0,090‬‬ ‫‪43‬‬ ‫‪3,796‬‬ ‫‪ .1‬ﻭﺟ ﻮﺩ ﺇﻁ ﺎﺭ ﻓﻌ ﺎﻝ‬
‫ﺍﻟﻤﺠﻤﻮﻋﺎﺕ‬ ‫ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ‬
‫‪0,910‬‬ ‫‪0,179‬‬ ‫ﻟﻠﺤﻮﻛﻤ ﺔ ﻓ ﻲ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ‬
‫ﻟ ﻸﻭﺭﺍﻕ ﻟﻠﺤ ﺪ‬ ‫‪4‬‬ ‫‪0,383‬‬ ‫‪4,17‬‬ ‫ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ‬
‫ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺔ‬ ‫ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ ﻳﺤ ﺪ ﻣ ﻦ‬
‫‪45‬‬ ‫‪3,844‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬
‫ﺒﺔ‬ ‫ﺍﻟﻤﺤﺎﺳ‬ ‫ﺒﺔ‬ ‫ﺔ ﺍﻟﻤﺤﺎﺳ‬ ‫ﻣﻤﺎﺭﺳ‬
‫ﺍﻹﺑﺪﺍﻋﻴﺔ‬ ‫ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫‪ .2‬ﻳﺴ ﺎﻫﻢ ﻣﺒ ﺪﺃ ﺣﻤﺎﻳ ﺔ‬
‫ﺩﻟﺖ ﻧﺘﺎﺋﺞ ﺗﺤﻠﻴﻞ ﺍﻟﺘﺒﺎﻳﻦ ﺍﻟﻤﻌﺮﻭﺿﺔ ﻓﻲ ﺍﻟﺠﺪﻭﻝ )‪ (6‬ﻋﻠﻰ ﺃﻧﻪ ﻻ ﺗﻮﺟﺪ‬ ‫ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﻓ ﻲ ﺗﻤﻜ ﻴﻦ‬
‫ﻓﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟﺔ ﺇﺣﺼﺎﺋﻴﺔ ﻋﻨﺪ ﻣﺴﺘﻮﻯ )‪ (0.05‬ﺑﻴﻦ ﺍﺳﺘﺠﺎﺑﺎﺕ ﻋﻴﻨﺔ‬ ‫‪2‬‬ ‫‪0,431‬‬ ‫‪4,24‬‬ ‫ﺍﻟﻤﺴ ﺎﻫﻤﻴﻦ ﻣ ﻦ ﺍﻟﻤﺴ ﺎءﻟﺔ‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﺗﺒﻌﺎ ً ﻟﻠﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ ﻟﺠﻤﻴﻊ ﻣﺤﺎﻭﺭ ﺍﻟﺪﺭﺍﺳﺔ ﺃﻱ ﺃﻧﻬﻢ ﺍﺗﻔﻘﻮﺍ ﻋﻠﻰ ﻣﺎ‬ ‫ﻭﺍﻟﺮﻗﺎﺑ ﺔ ﺍﻟﺠﻤﺎﻋﻴ ﺔ ﺍﻷﻣ ﺮ‬
‫ﺗﻀﻤﻨﺘﻪ ﻫﺬﻩ ﺍﻟﻤﺤﺎﻭﺭ ﺑﻤﺨﺘﻠﻒ ﻣﺆﻫﻼﺗﻬﻢ ﺍﻟﻌﻠﻤﻴﺔ‪.‬‬ ‫ﺍﻟ ﺬﻱ ﻳ ﻮﻓﺮ ﺣﻤﺎﻳ ﺔ ﻣ ﻦ‬
‫‪ 2.3.7.5‬ﺃﺛﺮ ﻣﺘﻐﻴﺮ ﺍﻟﻮﺿﻊ ﺍﻟﻮﻅﻴﻔﻲ ﻋﻠﻰ ﺍﺳﺘﺠﺎﺑﺎﺕ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ‬ ‫ﺍﻟﺘﻼﻋﺐ ﻷﻋﻤﺎﻝ ﺍﻟﺸﺮﻛﺔ‪.‬‬
‫ﺩﻟﺖ ﻧﺘﺎﺋﺞ ﺗﺤﻠﻴﻞ ﺍﻟﺘﺒﺎﻳﻦ ﺍﻟﻤﻌﺮﻭﺿﺔ ﻓﻲ ﺍﻟﺠﺪﻭﻟﻴﻦ ﺭﻗﻢ )‪ (7‬ﻭ ﺭﻗﻢ )‪ (8‬ﻋﻠﻰ‬ ‫‪ .3‬ﻳﻠ ﺰﻡ ﻣﺒ ﺪﺃ ﺍﻟﻤﺴ ﺎﻭﺍﺓ ﺑ ﻴﻦ‬
‫ﻭﺟﻮﺩ ﻓﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟﺔ ﺇﺣﺼﺎﺋﻴﺔ ﻋﻨﺪ ﻣﺴﺘﻮﻯ )‪ (0,05‬ﺑﻴﻦ ﺍﺳﺘﺠﺎﺑﺎﺕ ﻋﻴﻨﺔ‬ ‫ﺍﻟﻤﺴﺎﻫﻤﻴﻦ ﺍﻹﺩﺍﺭﺓ ﻭﺃﻋﻀ ﺎء‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﻟﻠﻤﺤﻮﺭ ﺍﻟﺜﺎﻧﻲ ﺗﺮﺟﻊ ﻟﻤﺘﻐﻴﺮ ﺍﻟﻮﺿﻊ ﺍﻟﻮﻅﻴﻔﻲ ﻭﻛﺎﻥ ﺍﻟﻤﺤﻮﺭ ﺣﻮﻝ‬ ‫‪5‬‬ ‫‪0,383‬‬ ‫‪4,17‬‬ ‫ﻣﺠﻠ ﺲ ﺍﻹﺩﺍﺭﺓ ﺑﺎﻹﻓﺼ ﺎﺡ‬
‫)ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ‬ ‫ﻋﻦ ﻣﺎ ﻳﺨﺼ ﻬﻢ ﻣ ﻦ ﻣﺼ ﺎﻟﺢ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﻟﻠﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ( ‪ ،‬ﺇﺫ ﺑﻠﻐﺖ ﺍﻟﻘﻴﻤﺔ ﺍﻟﻔﺎﺋﻴﺔ‬ ‫ﻣﺎﺩﻳ ﺔ ﻭ ﺍﻟﺘ ﻲ ﻗ ﺪ ﺗ ﺆﺛﺮ ﻋﻠ ﻰ‬
‫)‪ (3,847‬ﻭﻧﻈﺮﺍ ﻷﻫﻤﻴﺔ ﻣﻌﺮﻓﺔ ﺍﻟﻔﺌﺔ ﺍﻟﺘﻲ ﺗﺨﺘﻠﻒ ﻓﻴﻬﺎ ﺍﺳﺘﺠﺎﺑﺎﺕ ﺃﻓﺮﺍﺩ‬ ‫ﺍﻟﻮﺿﻊ ﺍﻟﻤﺎﻟﻲ ﻟﻠﺸﺮﻛﺔ‪.‬‬
‫ﺍﻟﺪﺭﺍﺳﺔ ﻋﻦ ﻏﻴﺮﻫﺎ ﻣﻦ ﺍﻟﻔﺌﺎﺕ ﺗﻢ ﺳﺘﺨﺪﻡ ﺍﺧﺘﺒﺎﺭ )‪ (LSD‬ﻟﻠﻘﻴﺎﻡ ﺑﻌﻤﻠﻴﺔ‬ ‫‪ .4‬ﺍﻻﻋﺘ ﺮﺍﻑ ﺑﺤﻘ ﻮﻕ‬
‫ﺍﻟﻤﻘﺎﺭﻧﺎﺕ ﺍﻟﻤﺘﻌﺪﺩﺓ ﺣﻴﺚ ﻳﺘﻀﺢ ﺃﻥ ﺍﻻﺧﺘﻼﻑ ﺫﺍ ﺍﻟﺪﻻﻟﺔ ﺍﻹﺣﺼﺎﺋﻴﺔ ﻛﺎﻥ ﺑﻴﻦ‬ ‫‪3‬‬ ‫‪0,543‬‬ ‫‪4,20‬‬ ‫ﺃﺻ ﺤﺎﺏ ﺍﻟﻤﺼ ﻠﺤﺔ ﻭﻓﻘ ﺎ ً‬
‫ﺃﻓﺮﺍﺩ ﺍﻟﺪﺭﺍﺳﺔ ﺍﻟﺬﻳﻦ ﻭﺿﻌﻬﻢ ﺍﻟﻮﻅﻴﻔﻲ )ﻋﻀﻮ ﻣﺠﻠﺲ ﺇﺩﺍﺭﺓ( ﻭ ﺍﻟﻔﺌﺔ )ﻣﺪﻳﺮ‬ ‫ﻟﻤﺒﺎﺩﺉ ﺍﻟﺤﻮﻛﻤ ﺔ ﻳ ﺆﺛﺮ ﻋﻠ ﻰ‬
‫ﻋﺎﻡ( ﻣﻦ ﺟﻬﺔ ﻭﺍﻟﺬﻳﻦ ﻓﺌﺎﺗﻬﻢ )ﻧﺎﺋﺐ ﻣﺪﻳﺮ ﻋﺎﻡ( ﻭ )ﻣﺪﻳﺮ ﻣﺎﻟﻲ( ﻣﻦ ﺟﻬﺔ‬ ‫ﺍﻟﻮﺿﻊ ﺍﻟﻤﺎﻟﻲ ﻟﻠﺸﺮﻛﺔ‪.‬‬
‫ﺃﺧﺮﻯ ‪ ،‬ﻓﻜﺎﻧﺖ ﺍﻻﺧﺘ ﻼﻓﺎﺕ ﻟﺼﺎﻟﺢ ﺃﻓﺮﺍﺩ ﺍﻟﺪﺭﺍﺳﺔ ﺍﻟﺬﻳﻦ ﻭﺿﻌﻬﻢ‬ ‫‪ .5‬ﺗﻄﺒﻴ ﻖ ﻣﺒ ﺪﺃ ﺍﻹﻓﺼ ﺎﺡ‬
‫ﺍﻟﻮﻅﻴﻔﻲ)ﻋﻀﻮ ﻣﺠﻠﺲ ﺇﺩﺍﺭﺓ(ﺃﻱ ﺫﻭﻱ ﺍﻟﻤﺼﺎﻟﺢ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﺘﻲ ﺗﺘﻄﻠﺐ ﺗﻄﺒﻴﻖ‬ ‫ﻭﺍﻟﺸ ﻔﺎﻓﻴﺔ ﻳ ﻮﻓﺮ ﺣﻤﺎﻳ ﺔ‬
‫ﺍﻹﺟﺮﺍءﺍﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﺍﻟﺪﻗﻴﻘﺔ ﻭﺍﻟﺼﺎﺭﻣﺔ ﻭﺍﻟﺘﻲ ﻗﺪ ﺗﻜﻮﻥ ﺃﻛﺜﺮ ﺣﻤﺎﺳﺎ ً ﻓﻲ‬ ‫ﻟﻠﻨﻈ ﺎﻡ ﺍﻹﺩﺍﺭﻱ ﻭﺍﻟﻤ ﺎﻟﻲ‬
‫ﺍﻻﺳﺘﺠﺎﺑﺔ ﻟﻌﺒﺎﺭﺍﺕ ﺍﻟﻤﺤﻮﺭ ‪.‬‬ ‫‪1‬‬ ‫‪0,504‬‬ ‫‪4,54‬‬ ‫ﻟﻠﺸ ﺮﻛﺔ ﻣ ﻦ ﺍﻻﺟﺘﻬ ﺎﺩﺍﺕ‬
‫ﺍﻟﺸﺨﺼ ﻴﺔ ﺑﻤ ﺎ ﻳﻌ ﺰﺯ ﺍﻟﺜﻘ ﺔ‬
‫ﻓ ﻲ ﺍﻟﺴﻴﺎﺳ ﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ‬
‫ﺍﻟﻤﺴﺘﺨﺪﻣﺔ‪.‬‬
‫‪4,26‬‬ ‫ﺍﻟﻤﺘﻮﺳﻂ ﺍﻟﺤﺴﺎﺑﻲ ﺍﻟﻌﺎﻡ‬
 ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬ ‫‪71‬‬

‫‪-5 -‬ﺗﻄﺒﻴﻖ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟ ﻸﻭﺭﺍﻕ‬

‫ﺍﻟﻤﺎﻟﻴﺔ ﻳﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬
‫‪ -6 -‬ﻻ ﺗﻮﺟ ﺪ ﻓ ﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟ ﺔ ﺇﺣﺼ ﺎﺋﻴﺔ ﻋﻨ ﺪ ﻣﺴ ﺘﻮﻯ )‪ (0.05‬ﺑ ﻴﻦ‬ ‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(7‬‬
‫ﺍﺳﺘﺠﺎﺑﺎﺕ ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﺗﺒﻌﺎ ً ﻟﻠﻤﺆﻫﻞ ﺍﻟﻌﻠﻤﻲ ﻟﺠﻤﻴﻊ ﻣﺤﺎﻭﺭ ﺍﻟﺪﺭﺍﺳﺔ‪.‬‬ ‫ﻧﺘﺎﺋﺞ ﺍﺧﺘﺒﺎﺭ )‪ (LSD‬ﻟﻠﻤﻘﺎﺭﻧﺎﺕ ﺍﻟﺒﻌﺪﻳﺔ ﻟﻤﺘﻐﻴﺮ ﺍﻟﻌﻤﺮ‬
‫‪-7 -‬ﺗﻮﺟ ﺪ ﻓ ﺮﻭﻕ ﺫﺍﺕ ﺩﻻﻟ ﺔ ﺇﺣﺼ ﺎﺋﻴﺔ ﻋﻨ ﺪ ﻣﺴ ﺘﻮﻯ ﺩﻻﻟ ﺔ )‪ (0,05‬ﻓ ﻲ‬ ‫ﻋﻠﻰ ﺍﻟﻤﺤﻮﺭ ﺍﻟﺜﺎﻧﻲ )ﺗﻄﺒﻴﻖ ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ‬
‫ﺁﺭﺍء ﻋﻴﻨﺔ ﺍﻟﺪﺭﺍﺳﺔ ﺣﻮﻝ ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓ ﻲ ﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺔ‬ ‫ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﻟﻠﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ(‬
‫ﺃﺳ ﺎﻟﻴﺐ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺗﻌ ﺰﻱ ﻟﻤﺘﻐﻴ ﺮ ﺍﻟﻮﺿ ﻊ ﺍﻟ ﻮﻅﻴﻔﻲ ﺣ ﻮﻝ‬ ‫ﻣﺘﻮﺳﻂ‬
‫ﺗﻄﺒﻴ ﻖ ﻣﺘﻄﻠﺒ ﺎﺕ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬ ‫ﺍﻟﺪﻻﻟﺔ‬ ‫ﺍﻟﻤﺘﻮﺳﻂ‬ ‫ﺍﻟﻮﻅﻴﻔﺔ‬
‫ﺍﻻﺧﺘﻼﻑ‬
‫ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻟﻠﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬ ‫‪0,006 0,15690 *0,4514‬‬ ‫ﻣﺪﻳﺮ ﻋﺎﻡ‬
‫‪ 2.6‬ﺍﻟﺘﻮﺻﻴﺎﺕ‬ ‫ﻧﺎﺋﺐ ﻣﺪﻳﺮ ﻋﺎﻡ ‪0,007 0,13205 *0,3714‬‬
‫‪ -‬ﻭﺑﻨﺎء ﻋﻠﻰ ﺍﻟﻨﺘﺎﺋﺞ ﺍﻟﺴﺎﺑﻘﺔ ﻓﺎﻥ ﺍﻟﺒﺎﺣﺚ ﻳﻘﺪﻡ ﺍﻟﺘﻮﺻﻴﺎﺕ ﺍﻟﺘﺎﻟﻴﺔ ‪:‬‬ ‫ﻋﻀﻮ ﻣﺠﻠﺲ ﺇﺩﺍﺭﺓ‬
‫‪-1 -‬ﻋﻠﻰ ﺍﻟﺒﺎﺣﺜﻴﻦ ﻭﺍﻟﻤﻬﺘﻤﻴﻦ ﻭﺍﻟﻤﻬﻨﻴﻴﻦ ﺍﻻﻫﺘﻤﺎﻡ ﺃﻛﺜﺮ ﻭﺍﻟﺘﻌﺮﻳ ﻒ ﺑﺄﻫﻤﻴ ﺔ‬ ‫‪0,005 0,11510 *0,3381‬‬ ‫ﻣﺪﻳﺮ ﻣﺎﻟﻲ‬
‫ﻣﻮﺿﻮﻉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺑﻤﺒﺎﺩﺋ ﻪ ﻭﺃﻫﺪﺍﻓ ﻪ ﻭﺍﻳﺠﺎﺑﻴﺎﺗ ﻪ ﻋﻠ ﻰ ﻣﺴ ﺘﻮﻯ‬
‫ﺍﻟﺸﺮﻛﺎﺕ ﻭﻋﻠﻰ ﻣﺴﺘﻮﻯ ﺍﻟﺪﻭﻟﺔ ﻛﻜﻞ ‪.‬‬
‫ﺟﺪﻭﻝ ﺭﻗﻢ )‪(8‬‬
‫‪ -2 -‬ﺿ ﺮﻭﺭﺓ ﺗﻌﺰﻳ ﺰ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺍﻟﺴ ﻮﺩﺍﻥ ﻭﺗﺤ ﺪﻳﺚ‬
‫ﻧﺘﺎﺋﺞ ﺗﺤﻠﻴﻞ ﺍﻟﺘﺒﺎﻳﻦ ﺍﻷﺣﺎﺩﻱ ‪ One-Way ANOVA‬ﻓﻲ ﺿﻮء ﻣﺘﻐﻴﺮ‬
‫ﻭﺗﻄﻮﻳﺮ ﺍﻷﻧﻈﻤﺔ ﻭﺍﻟﻘﻮﺍﻧﻴﻦ ﻟﺘﻮﺍﻛﺐ ﻣﺘﻄﻠﺒﺎﺗﻬﺎ‪.‬‬
‫ﺍﻟﻮﺿﻊ ﺍﻟﻮﻅﻴﻔﻲ‬
‫‪ -3 -‬ﺳﻦ ﻣﺰﻳﺪ ﻣﻦ ﺍﻟﻘﻮﺍﻧﻴﻦ ﻟﺘﻌﺰﻳ ﺰ ﺍﻹﻓﺼ ﺎﺡ ﻭﺍﻟﺸ ﻔﺎﻓﻴﺔ ﻟ ﺪﻯ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ ﺍﻟﺴﻮﺩﺍﻧﻴﺔ ‪.‬‬

‫ﺍﻹﺣﺼﺎﺋﻴﺔ‬

‫ﺍﻟﻤﺮﺑﻌﺎﺕ‬

‫ﺍﻟﻤﺮﺑﻌﺎﺕ‬
‫ﻗﻴﻤﺔ ﻑ‬

‫ﻣﺠﻤﻮﻉ‬
‫ﻣﺘﻮﺳﻂ‬

‫ﺩﺭﺟﺎﺕ‬
‫ﺍﻟﺤﺮﻳﺔ‬
‫ﺍﻟﺪﻻﻟﺔ‬
‫‪ -4 -‬ﺍﻷﺧ ﺬ ﺑﻌ ﻴﻦ ﺍﻻﻋﺘﺒ ﺎﺭ ﻟﻤﻘﺘﺮﺣ ﺎﺕ ﺍﻟﺒ ﺎﺣﺜﻴﻦ ﻭﺍﻟﻤﻬﻨﻴ ﻴﻦ ﻭﺍﻟﻤﻬﺘﻤ ﻴﻦ‬ ‫ﺍﻟﺒﻴﺎﻥ‬ ‫ﺍﻟﻤﺤﻮﺭ‬
‫ﺑﺸ ﺄﻥ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻣﻤ ﺎ ﻳﺴ ﺎﻋﺪ ﻓ ﻲ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺟﻴ ﺪﺓ‬
‫ﻭﺭﺷﻴﺪﺓ‪.‬‬ ‫ﺑﻴﻦ‬ ‫ﺇﺩﺭﺍﻙ ﺍﻟﺸ ﺮﻛﺎﺕ‬
‫‪ -5 -‬ﺿ ﺮﻭﺭﺓ ﻣﺮﺍﻋ ﺎﺓ ﺁﺩﺍﺏ ﻭﻗﻮﺍﻋ ﺪ ﻭﺳ ﻠﻮﻙ ﻣﻬﻨ ﺔ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻟ ﺬﻱ ﻣ ﻦ‬ ‫‪0,081‬‬ ‫‪3‬‬ ‫‪0,243‬‬ ‫ﺍﻟﻤﺠﻤﻮﻋﺎ‬ ‫ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ‬
‫ﺷﺄﻧﻪ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪.‬‬ ‫ﺕ‬ ‫ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬
‫‪ 3.6‬ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﻤﺴﺘﻘﺒﻠﻴﺔ‬ ‫ﺩﺍﺧﻞ‬ ‫ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫‪0,368‬‬ ‫‪1,081‬‬
‫‪ -1‬ﺃﺛ ﺮ ﺗﻄﺒﻴ ﻖ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻋﻠ ﻰ ﻣﻤﺎﺭﺳ ﺔ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑ ﺎﺡ ﻓ ﻲ‬ ‫‪0,075‬‬ ‫‪42‬‬ ‫‪3,139‬‬ ‫ﺍﻟﻤﺠﻤﻮﻋﺎ‬ ‫ﻟﺘ ﺄﺛﻴﺮ ﺗﻄﺒﻴ ﻖ‬
‫ﺍﻟﺸ ﺮﻛﺎﺕ ﺍﻟﻤﺴ ﺎﻫﻤﺔ ﺍﻟﻌﺎﻣ ﺔ ﺍﻟﻤﺴ ﺠﻠﺔ ﻓ ﻲ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬ ‫ﺕ‬ ‫ﻣﺘﻄﻠﺒﺎﺕ ﺣﻮﻛﻤﺔ‬
‫ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﻭﺍﻧﻌﻜﺎﺳﻬﺎ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴﺔ ‪.‬‬ ‫ﺍﻟﺸ ﺮﻛﺎﺕ ﻋﻠ ﻰ‬
‫‪ -2‬ﻣ ﺪﻯ ﻣﺴ ﺆﻭﻟﻴﺔ ﻣﺮﺍﺟﻌ ﻲ ﺍﻟﺤﺴ ﺎﺑﺎﺕ ﻋ ﻦ ﻣﻤﺎﺭﺳ ﺔ ﺃﺳ ﺎﻟﻴﺐ‬ ‫‪45‬‬ ‫‪3,382‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬ ‫ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺷﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ‪.‬‬
‫ﺗﻄﺒﻴ ﻖ ﻣﺘﻄﻠﺒ ﺎﺕ‬
‫‪ -3‬ﺩﻭﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺗﻨﺸ ﻴﻂ ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ ﻟ ﻸﻭﺭﺍﻕ‬ ‫ﺑﻴﻦ‬ ‫ﺔ‬ ‫ﺣﻮﻛﻤ‬
‫ﺍﻟﻤﺎﻟﻴﺔ‪ -‬ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ‪.‬‬ ‫‪0,276‬‬ ‫‪3‬‬ ‫‪0,828‬‬ ‫ﺍﻟﻤﺠﻤﻮﻋﺎ‬ ‫ﺮﻛﺎﺕ‬ ‫ﺍﻟﺸ‬
‫‪ -4‬ﻣ ﺪﻯ ﺇﺩﺭﺍﻙ ﻣﺤﻠﻠ ﻲ ﺍﻻﺋﺘﻤ ﺎﻥ ﻓ ﻲ ﺍﻟﻤﺼ ﺎﺭﻑ ﺍﻟﺴ ﻮﺩﺍﻧﻴﺔ‬ ‫ﺕ‬ ‫ﺍﻟﻤﺪﺭﺟ ﺔ ﻓ ﻲ‬
‫ﻹﺟﺮﺍءﺍﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ– ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ‪.‬‬
‫ﺳ ﻮﻕ ﺍﻟﺨﺮﻁ ﻮﻡ‬
‫‪*0,016‬‬ ‫‪3,847‬‬ ‫ﻟ ﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫‪ -7‬ﺍﻟﻤﺮﺍﺟــﻊ‬
‫ﺩﺍﺧﻞ‬ ‫ﻟﻠﺤ ﺪ ﻣ ﻦ‬
‫‪0,072‬‬ ‫‪42‬‬ ‫‪3,016‬‬ ‫ﺍﻟﻤﺠﻤﻮﻋﺎ‬ ‫ﺔ‬ ‫ﻣﻤﺎﺭﺳ‬
‫}‪ {1‬ﺧﻄﺎﺏ ‪ ،‬ﻣﺤﻤﺪ ﺷﺤﺎﺗﻪ )‪2010‬ﻡ( ‪ ،‬ﺍﻟﺘﻜﺎﻣﻞ ﺑﻴﻦ ﺃﺩﻭﺍﺕ ﺇﺩﺍﺭﺓ‬ ‫ﺕ‬ ‫ﺒﺔ‬ ‫ﺍﻟﻤﺤﺎﺳ‬
‫ﺍﻟﺘﻜﻠﻔﺔ ﻭﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ‪ ،‬ﺇﻁﺎﺭ ﻣﻘﺘﺮﺡ ‪ :‬ﺩﺭﺍﺳﺔ ﻧﻈﺮﻳﺔ ﻭﻣﻴﺪﺍﻧﻴﺔ ‪،‬‬ ‫ﺍﻹﺑﺪﺍﻋﻴﺔ‬
‫ﻭﺭﻗﺔ ﻋﻤﻞ ﻣﻘﺪﻣﺔ ﺇﻟﻰ ﺍﻟﻨﺪﻭﺓ ﺍﻟﺜﺎﻧﻴﺔ ﻋﺸﺮ ﻟﺴﺒﻞ ﺗﻄﻮﻳﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﻓﻲ‬
‫ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ‪ 19 – 18 ،‬ﻣﺎﻳﻮ ‪ 5 – 4 ،‬ﺟﻤﺎﺩﻯ ﺍﻟﺜﺎﻧﻲ‬ ‫‪45‬‬ ‫‪3,844‬‬ ‫ﺍﻟﻤﺠﻤﻮﻉ‬
‫‪1432‬ﻫـ ‪ ،‬ﺍﻟﺮﻳﺎﺽ ‪ ،‬ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ‪.‬‬ ‫* ﺩﺍﻟﺔ ﻋﻨﺪ ﻣﺴﺘﻮﻯ )‪(0,05‬‬
‫‪Julie, Margret (2001) A History of Corporate‬‬ ‫}‪{2‬‬
‫‪Governance, An Australian Perspective, pp: 1-33.‬‬ ‫‪.6‬ﺍﻟﺨﻼﺻﺔ ﻭ ﺍﻟﻨﺘﺎﺋﺞ ﻭﺍﻟﺘﻮﺻﻴﺎﺕ‬
‫}‪Beltratti, Andrea (2005), The Complementarity {3‬‬ ‫‪ 1.6‬ﺍﻟﻨﺘﺎﺋﺞ‬
‫‪between Corporate Governance and Corporate Social‬‬ ‫ﻛﺎﻥ ﺍﻟﻬ ﺪﻑ ﻣ ﻦ ﻫ ﺬﺍ ﺍﻟﺒﺤ ﺚ ﺍﻟﺘﻌﺮﻳ ﻒ ﺑﺤﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻭﻣﺒﺎﺩﺋﻬ ﺎ ﻭﺃﻫﻤﻴﺘﻬ ﺎ‬
‫‪Responsibility ,The Geneva Papers:‬‬ ‫‪:‬‬ ‫ﻭﺃﻫ ﺪﺍﻓﻬﺎ ‪ ،‬ﻭﻣﻌﺮﻓ ﺔ ﺩﻭﺭﻫ ﺎ ﻓ ﻲ ﺭﻓ ﻊ ﺃﺩﺍء ﺍﻟﺸ ﺮﻛﺎﺕ ﺍﻟﻤ ﺎﻟﻲ ﻭﺍﻹﺩﺍﺭﻱ ﻭﺩﻭﺭ‬
‫‪doi:10.1057/palgrave.gpp.25100‬‬ ‫ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺟ ﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣ ﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﻴﺔ ﻭﻓ ﻲ ﺍﻟﺤ ﺪ ﻣ ﻦ ﻣﻤﺎﺭﺳ ﺎﺕ‬
‫ﻋﺒﺪﺍﻟﺤﻠﻴﻢ ‪ ،‬ﻣﺤﻤﺪ )‪2005‬ﻡ(‪ ،‬ﺣﻮﻛﻤﺔ ﺍﻟﻤﺼﺎﺭﻑ‪ ،‬ﺍﻟﻤﺆﺗﻤﺮ‬ ‫}‪{4‬‬ ‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻭﻗﺪ ﺍﻧﺘﻬﻰ ﺍﻟﺒﺤﺚ ﺇﻟﻰ ﺍﻟﻨﺘﺎﺋﺞ ﺍﻟﺘﺎﻟﻴﺔ ‪:‬‬
‫ﺍﻟﺨﺎﻣﺲ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﺑﻌﺎﺩﻫﺎ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭﺍﻹﺩﺍﺭﻳﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻳﺔ‪،‬‬ ‫‪ -1‬ﻭﺟ ﻮﺩ ﺩﻭﺭ ﻣﻬ ﻢ ﻭﻣ ﺆﺛﺮ ﻟﻠﺤﻮﻛﻤ ﺔ ﻓ ﻲ ﺭﻓ ﻊ ﻛﻔ ﺎءﺓ ﺍﻷﺩﺍء ﺍﻟﻤ ﺎﻟﻲ‬
‫ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ ‪ ،‬ﺟﺎﻣﻌﺔ ﺍﻹﺳﻜﻨﺪﺭﻳﺔ ‪ ،‬ﺍﻟﺠﺰء ﺍﻟﺜﺎﻟﺚ‪.‬‬ ‫ﻭﺍﻹﺩﺍﺭﻱ ﻟﻠﺸﺮﻛﺎﺕ‪.‬‬
‫ﻣﺘﻮﻟﻲ ‪ ،‬ﻁﻠﻌﺖ ﻋﺒﺪ ﺍﻟﻌﻈﻴﻢ )‪2006‬ﻡ( ‪ ،‬ﺩﺭﺍﺳـــــﺔ‬ ‫}‪{5‬‬ ‫‪ -2 -‬ﻣﻤﺎﺭﺳﺎﺕ ﺍﻟﻤﺤﺎﺳ ﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺗ ﺆﺛﺮ ﻋﻠ ﻰ ﻣﺼ ﺪﺍﻗﻴﺔ ﺍﻟﻘ ﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴ ﺔ‬
‫ﺗﺤﻠﻴﻠﻴـــــﺔ ﻟﻠﻤﻼﻣﺢ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻟﻔﺠﻮﺓ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ‬ ‫ﻭﺗﻈﻬﺮﻫ ﺎ ﺑﺼ ﻮﺭﺓ ﻏﻴ ﺮ ﺣﻘﻴﻘﻴ ﺔ ﻟﺘﺤﻘﻴ ﻖ ﻣﺼ ﻠﺤﺔ ﺍﻹﺩﺍﺭﺓ ﻣﻤ ﺎ ﻳﻀ ﻠﻞ‬
‫ﺍﻟﻤﺴﺎﻫﻤـــــﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ‪ ،‬ﻣﺠﻠــﺔ ﺍﻟﺘﺠﺎﺭﺓ ﻭﺍﻟﺘﻤﻮﻳـﻞ‪ ،‬ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‪،‬‬ ‫ﺍﻟﻤﺴﺘﻔﻴﺪﻳﻦ ﻣﻦ ﺍﻟﻘﻮﺍﺋﻢ ﺍﻟﻤﺎﻟﻴﺔ ‪.‬‬
‫ﺟﺎﻣﻌﺔ ﻁﻨﻄﺎ‪ ،‬ﺍﻟﻤﺠﻠﺪ ﺍﻷﻭﻝ‪ ،‬ﺍﻟﻌﺪﺩ ﺍﻷﻭﻝ‪.‬‬ ‫‪ -3 -‬ﺍﻷﺑﻌﺎﺩ ﺍﻷﺧﻼﻗﻴﺔ ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴ ﺔ ﺗﺘﻨ ﺎﻓﻰ ﻣ ﻊ ﻗﻮﺍﻋ ﺪ ﻭﺃﺧﻼﻗﻴ ﺎﺕ‬
‫ﻣﻬﻨﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ‪.‬‬
‫ﻣﺘﻮﻟﻲ ‪ ،‬ﻁﻠﻌﺖ ﻋﺒﺪ ﺍﻟﻌﻈﻴﻢ )‪2006‬ﻡ( ‪ ،‬ﺩﺭﺍﺳــــــﺔ‬ ‫}‪{6‬‬ ‫‪ -4 -‬ﺗﺪﺭﻙ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﺍﻟﺨﺮﻁﻮﻡ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ ﺗ ﺄﺛﻴﺮ‬
‫ﺗﺤﻠﻴﻠﻴــــﺔ ﻟﻠﻤﻼﻣﺢ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻟﻔﺠﻮﺓ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ‬ ‫ﺗﻄﺒﻴﻖ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺍﻟﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﻴﺔ‪.‬‬
‫‪72‬‬ ‫‪THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73‬‬
‫ﺍﻟﺘﺄﺛﻴﺮ ﺍﻟﺴﻠﺒﻲ ﻟﻠﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﻠﻰ ﻣﻮﺛﻮﻗﻴﺔ ﺍﻟﺒﻴﺎﻧﺎﺕ ﺍﻟﻤﺎﻟﻴﺔ –‬
‫ﺩﺭﺍﺳﺔ ﺗﻄﺒﻴﻘﻴﺔ ﻋﻠﻰ ﺍﻟﺒﻨﻮﻙ ﺍﻟﻔﻠﺴﻄﻴﻨﻴﺔ‪ ،‬ﺭﺳﺎﻟﺔ ﻣﺎﺟﺴﺘﻴﺮ ﻏﻴﺮ‬
‫ﻣﻨﺸﻮﺭﺓ‪ ،‬ﻛﻠﻴﺔ ﺍﻻﻗﺘﺼﺎﺩ ﻭﺍﻟﻌﻠﻮﻡ ﺍﻹﺩﺍﺭﻳﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺍﻷﺯﻫﺮ – ﻏﺰﺓ‪.‬‬
‫‪Demerens, Frederic, Pare, Jean-Louis and Redis,‬‬
‫‪Jean (2013), Investor Skepticism and Creative‬‬
‫‪Accounting: The Case of a French SME Listed on‬‬
‫‪Alternext, International Journal of Business, Craig‬‬
‫‪School of Business, California State University,‬‬
‫‪Fresno 18(1), 2013 ,PP 59-80.‬‬
‫ﺳﻤﻴﺤﺔ ﻓﻮﺯﻱ )‪2004‬ﻡ(‪ ،‬ﺗﻘﻴﻴﻢ ﻣﺒﺎﺩﺉ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ‬
‫ﺟﻤﻬﻮﺭﻳﺔ ﻣﺼﺮ ﺍﻟﻌﺮﺑﻴﺔ‪ ،‬ﺍﻟﻤﺮﻛـﺰ ﺍﻟﻤﺼﺮﻱ ﻟﻠﺪﺭﺍﺳﺎﺕ ﺍﻻﻗﺘﺼﺎﺩﻳـﺔ‬
‫ﺑﺎﻟﺘﻌﺎﻭﻥ ﻣﻊ ﻣﺮﻛﺰ ﺍﻟﻤﺸﺮﻭﻋﺎﺕ ﺍﻟﺪﻭﻟﻴﺔ‪ ،‬ﻭﺭﻗﺔ ﻋﻤﻞ ﺭﻗﻢ ‪. 82‬‬
‫ﺍﻟﺤﻴــﺰﺍﻥ ‪ ،‬ﺃﺳﺎﻣــﺔ ﻓﻬﺪ )‪2005‬ﻡ( ‪ ،‬ﻧﻈـﺎﻡ ﺇﺩﺍﺭﺓ ﻭﻣﺮﺍﻗﺒــﺔ ﺍﻟﻤﻨﺸـﺂﺕ‬
‫) ﺍﻟﺤﻮﻛﻤﺔ ( – ﺣﺎﻟﺔ ﻫﻴﺌﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﻭﺍﻟﻤﺮﺍﺟﻌﺔ ﻟﺪﻭﻝ ﻣﺠﻠﺲ ﺍﻟﺘﻌﺎﻭﻥ‬
‫ﻟﺪﻭﻝ ﺍﻟﺨﻠﻴﺞ ﺍﻟﻌﺮﺑﻴﺔ‪ ،‬ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﺨﺎﻣﺲ ﻟﺤﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﺑﻌﺎﺩﻫﺎ‬
‫ﺍﻟﻤﺤﺎﺳﺒﻴﺔ ﻭﺍﻹﺩﺍﺭﻳﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻳﺔ‪ ،‬ﺍﻟﺠﺰء ﺍﻷﻭﻝ‪ ،‬ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‪،‬‬
‫ﺟﺎﻣﻌﺔ ﺍﻹﺳﻜﻨﺪﺭﻳﺔ‪ ،‬ﻣﺼﺮ‪.‬‬
‫ﻣﻨﻈﻤﺔ ﺍﻟﺘﻌﺎﻭﻥ ﺍﻻﻗﺘﺼﺎﺩﻱ ﻭﺍﻟﺘﻨﻤﻴﺔ ‪: (2013) OECD‬‬
‫‪2013/03/05‬ﻡ )‪(www.oecd.org‬‬
‫ﺍﻟﻨﻮﺍﺱ‪ ،‬ﺭﺍﻓﺪ ﻋﺒﻴﺪ )‪2008‬ﻡ(‪ ،‬ﺍﺛﺮ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻋﻠﻰ ﺟﻮﺩﺓ ﺃﺩﺍء‬
‫ﻣﺮﺍﻗﺐ ﺍﻟﺤﺴﺎﺑﺎﺕ – ﺃﻧﻤﻮﺫﺝ ﻣﻘﺘﺮﺡ‪ -‬ﻣﺠﻠﺔ ﺍﻟﻌﻠﻮﻡ ﺍﻻﻗﺘﺼﺎﺩﻳﺔ‬
‫ﻭﺍﻹﺩﺍﺭﻳﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺑﻐﺪﺍﺩ‪ ،‬ﺍﻟﻤﺠﻠﺪ ﺭﻗﻢ ‪ ،14‬ﺍﻟﻌﺪﺩ ‪.50‬‬
‫ﺍﻟﺤﻔﻨﺎﻭﻱ‪ ،‬ﺷﻮﻗﻲ ﻋﺒﺪﺍﻟﻌﺰﻳﺰ ﺑﻴﻮﻣﻲ )‪2005‬ﻡ(‪ ،‬ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
‫ﻭﺃﺛﺮﻫﺎ ﻓﻲ ﻋﻼﺝ ﺃﻣﺮﺍﺽ ﺍﻟﻔﻜﺮ ﻭﺍﻟﺘﻄﺒﻴﻖ ﺍﻟﻤﺤﺎﺳﺒﻲ‪ ،‬ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﻠﻤﻲ‬
‫ﺍﻟﺴﻨﻮﻱ ﺍﻟﺨﺎﻣﺲ‪ ،‬ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‪ ،‬ﺟﺎﻣﻌﺔ ﺍﻹﺳﻜﻨﺪﺭﻳﺔ‪ 10-8 ،‬ﺳﺒﺘﻤﺒﺮ‪.‬‬
‫ﺳﻠﻴﻤﺎﻥ‪ ،‬ﻣﺤﻤﺪ ﻣﺼﻄﻔﻰ )‪2008‬ﻡ(‪ ،‬ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﻋﻀﺎء‬
‫ﻣﺠﺎﻟﺲ ﺍﻹﺩﺍﺭﺓ ﻭﺍﻟﻤﺪﻳﺮﻳﻦ ﺍﻟﺘﻨﻔﻴﺬﻳﻴﻦ‪ ،‬ﺍﻹﺳﻜﻨﺪﺭﻳﺔ‪ ،‬ﺍﻟﺪﺍﺭ ﺍﻟﺠﺎﻣﻌﺔ‪ ،‬ﺹ‬
‫ﺹ ‪. 16-15:‬‬
‫ﺍﻟﺸﻴﺮﺍﺯﻱ‪ ،‬ﻋﺒﺎﺱ ﻣﻬﺪﻱ )‪1990‬ﻡ( ﻧﻈﺮﻳﺔ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺫﺍﺕ ﺍﻟﺴﻼﺳﻞ‬
‫ﻟﻄﺒﺎﻋﺔ ﻭﺍﻟﻨﺸﺮ ﺍﻟﻜﻮﻳﺖ ﺹ‪.194‬‬
‫ﺧﻠﻴﻞ‪ ،‬ﻣﺤﻤﺪ )‪2003‬ﻡ(‪ ،‬ﺩﻭﺭ ﺍﻟﻤﺤﺎﺳﺐ ﺍﻹﺩﺍﺭﻱ ﻓﻲ ﺇﻁﺎﺭ ﺣﻮﻛﻤﺔ‬
‫ﺍﻟﺸﺮﻛﺎﺕ‪ ،‬ﻣﺠﻠﺔ ﺍﻟﺪﺭﺍﺳﺎﺕ ﻭﺍﻟﺒﺤﻮﺙ ﺍﻟﺘﺠﺎﺭﻳﺔ‪ ،‬ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‪ ،‬ﺟﺎﻣﻌﺔ‬
‫ﺑﻨﻬﺎ‪ ،‬ﺍﻟﻌﺪﺩ ﺍﻟﺜﺎﻧﻲ‪ ،‬ﺹ ‪. 35‬‬
‫ﺍﻟﺸﺤﺎﺩﺓ‪ ،‬ﻋﺒﺪﺍﻟﺮﺍﺯﻕ )‪2007‬ﻡ(‪ ،‬ﺍﻟﺘﺤﻜﻢ ﺍﻟﻤﺆﺳﺴﻲ ﻭﺍﻟﻤﻨﻬﺞ ﺍﻟﻤﺤﺎﺳﺒﻲ‬
‫ﺍﻟﺴﻠﻴﻢ ﻣﺘﻄﻠﺒﺎﺕ ﺿﺮﻭﺭﻳﺔ ﻹﺩﺍﺭﺓ ﺍﻟﻤﺨﺎﻁﺮ ﺍﻟﻤﺼﺮﻓﻴﺔ‪ ،‬ﻣﺠﻠﺔ ﺍﻟﻌﻠﻮﻡ‬
‫ﺍﻹﻧﺴﺎﻧﻴﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﻣﺤﻤﺪ ﺧﻴﻀﺮ ﺑﺴﻜﺮﺓ‪ ،‬ﺍﻟﺠﺰﺍﺋﺮ‪ ،‬ﺍﻟﻌﺪﺩ ﺍﻟﺜﺎﻧﻲ ﻋﺸﺮ‪،‬‬
‫ﻧﻮﻓﻤﺒﺮ‪ ،‬ﺹ ﺹ ‪.36-9:‬‬
‫‪Amat, O. and Gowthorpe, C. (2004), Creative‬‬
‫‪Accounting: Nature Incidence and Ethical Issues,‬‬
‫‪UPF Working Paper No. 749, Journal of Economic‬‬
‫‪Literature.‬‬
‫‪Mulford, Charles.W, and Comisky, Eugene E.,‬‬
‫‪(2002): The Financial Numbers Game Detecting‬‬
‫‪Creative Accounting Practices, John Wiley and‬‬
‫‪Sons,‬‬ ‫‪Inc,‬‬ ‫‪p27.‬‬
‫ﻣﻄﺮ‪ ،‬ﻣﺤﻤﺪ ﻭ ﺍﻟﺤﻠﺒﻲ‪ ،‬ﻟﻴﻨﺪﺍ ﺣﺴﻦ )‪2009‬ﻡ(‪ ،‬ﺩﻭﺭ ﻣﺪﻗﻖ ﺍﻟﺤﺴﺎﺑﺎﺕ‬
‫ﺍﻟﺨﺎﺭﺟﻲ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﺁﺛﺎﺭ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻋﻠﻰ ﻣﻮﺛﻮﻗﻴﺔ ﺍﻟﺒﻴﺎﻧﺎﺕ‬
‫ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﺼﺎﺩﺭﺓ ﻋﻦ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ ﺍﻷﺭﺩﻧﻴﺔ‪ ،‬ﺑﺤﺚ ﻣﻘﺪﻡ‬
‫ﺇﻟﻰ ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﻠﻤﻲ ﻓﻲ ﻛﻠﻴﺔ ﺍﻻﻗﺘﺼﺎﺩ ﻭﺍﻟﻌﻠﻮﻡ ﺍﻹﺩﺍﺭﻳﺔ‪ ،‬ﺟﺎﻣﻌﺔ‬
‫ﺍﻟﺰﺭﻗﺎء ﺍﻟﺨﺎﺻﺔ‪ ،‬ﻋﻤﺎﻥ ‪ 11-10‬ﻧﻮﻓﻤﺒﺮ‪ ،‬ﺹ ‪.9‬‬
‫ﺣﻤﺎﺩﺓ ‪ ،‬ﺭﺷﺎ )‪2010‬ﻡ( ‪ ،‬ﺩﻭﺭ ﻟﺠﺎﻥ ﺍﻟﻤﺮﺍﺟﻌﺔ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺎﺕ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ )ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ (‪ ،‬ﻣﺠﻠﺔ ﺟﺎﻣﻌﺔ ﺩﻣﺸﻖ ﻟﻠﻌﻠﻮﻡ‬
‫ﺍﻻﻗﺘﺼﺎﺩﻳﺔ ﻭﺍﻟﻘﺎﻧﻮﻧﻴﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺩﻣﺸﻖ‪ ،‬ﺍﻟﻤﺠﻠﺪ ‪ ،26‬ﺍﻟﻌﺪﺩ ﺍﻟﺜﺎﻧﻲ‪،‬‬
‫ﺹ‪.96‬‬
‫ﺍﻟﻤﺴﺎﻫﻤــــــﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ‪ ،‬ﻣﺠﻠﺔ ﺍﻟﺘﺠﺎﺭﺓ ﻭﺍﻟﺘﻤﻮﻳﻞ‪ ،‬ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‪،‬‬
‫ﺟﺎﻣﻌﺔ ﻁﻨﻄﺎ‪ ،‬ﺍﻟﻤﺠﻠﺪ ﺍﻷﻭﻝ‪ ،‬ﺍﻟﻌﺪﺩ ﺍﻷﻭﻝ‪.‬‬
‫‪Mohammed, Soliman Ali Mohammed, (2010), Role‬‬ ‫}‪{7‬‬
‫}‪{19‬‬ ‫‪of Internal Control in Corporate Governance: A Case‬‬
‫‪Study of KSC Ltd, Unpublished Master Thesis,‬‬
‫‪College of Graduate Studies and Scientific Research,‬‬
‫‪Sudan University of Science and Technology.‬‬
‫ﺧﻄﺎﺏ ‪ ،‬ﻣﺤﻤﺪ ﺷﺤﺎﺗﻪ ﻭﺍﻟﺴﻴﺪ‪ ،‬ﻳﺎﺳﺮ ﺃﺣﻤﺪ )‪2012‬ﻡ(‪ ،‬ﺇﻁﺎﺭ ﻣﻘﺘﺮﺡ‬ ‫}‪{8‬‬
‫}‪{20‬‬ ‫ﻟﺘﻔﻌﻴ ﻞ ﺩﻭﺭ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻓ ﻲ ﺗﺤﺠ ﻴﻢ ﺍﺳ ﺘﺨﺪﺍﻡ ﺑﻌ ﺾ ﺃﺳ ﺎﻟﻴﺐ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ‪ :‬ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺴ ﻌﻮﺩﻳﺔ ‪ ،‬ﺩﻭﺭﻳ ﺔ‬
‫ﺍﻹﺩﺍﺭﺓ ﺍﻟﻌﺎﻣ ـﺔ‪ ،‬ﻣﻌﻬ ﺪ ﺍﻹﺩﺍﺭﺓ ﺍﻟﻌﺎﻣ ﺔ ﺍﻟﺮﻳ ﺎﺽ‪ ،‬ﺍﻟﻤﺠﻠ ﺪ ‪ ،52‬ﺍﻟﻌ ﺪﺩ‬
‫ﺍﻟﺜﺎﻧﻲ‪ ،‬ﻣﺎﺭﺱ‪ ،‬ﺹ ‪.203‬‬
‫}‪{21‬‬
‫ﺭﻳﺤﺎﻭﻱ‪ ،‬ﻣﻬﺎ ﻣﺤﻤﻮﺩ )‪2012‬ﻡ(‪ ،‬ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺗﻌﺰﻳﺰ‬ ‫}‪{9‬‬
‫ﺍﻟﺸﻔﺎﻓﻴﺔ ﻭﺍﻹﻓﺼﺎﺡ ﻓﻲ ﺍﻟﺘﻘﺎﺭﻳﺮ ﺍﻟﻤﺎﻟﻴﺔ ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻤﺪﺭﺟﺔ‬
‫ﻓﻲ ﺳﻮﻕ ﺩﻣﺸﻖ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‪ ،‬ﺍﻹﺩﺍﺭﻱ‪ ،‬ﻣﻌﻬﺪ ﺍﻹﺩﺍﺭﺓ ﺍﻟﻌﺎﻣﺔ‬
‫ﻣﺴﻘﻂ‪ ،‬ﺍﻟﻌﺪﺩ ‪ ،128‬ﺍﻟﺴﻨﺔ ‪ ، 34‬ﺹ ﺹ‪.84-45 :‬‬
‫ﻓﻬﻴﻢ ﺳﻠﻄﺎﻥ ﻣﺤﻤﺪ )‪2012‬ﻡ(‪ ،‬ﺁﻟﻴﺎﺕ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺩﻭﺭﻫﺎ ﻓﻲ‬ ‫}‪{10‬‬
‫}‪{22‬‬
‫ﺗﻀﻴﻴﻖ ﻓﺠﻮﺓ ﺍﻟﺘﻮﻗﻌﺎﺕ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺤﺎﺝ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ‬
‫ﺍﻟﺴﻮﺩﺍﻧﻴﺔ‪ ،‬ﻣﺠﻠﺔ ﺍﻟﻌﻠﻮﻡ ﺍﻹﻧﺴﺎﻧﻴﺔ ﻭﺍﻻﻗﺘﺼﺎﺩﻳﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺍﻟﺴﻮﺩﺍﻥ ﻟﻠﻌﻠﻮﻡ‬
‫}‪{23‬‬ ‫ﻭﺍﻟﺘﻜﻨﻮﻟﻮﺟﻴﺎ‪ ،‬ﺍﻟﻤﺠﻠﺪ ﺍﻷﻭﻝ ‪ ،‬ﺍﻟﻌﺪﺩ ﺍﻷﻭﻝ ‪ ،‬ﺹ ﺹ ‪.60-42‬‬
‫‪Joshua, Samuel Gambo and Tauhid , Suleiman (2013‬‬ ‫}‪{11‬‬
‫‪Corporate Governance Principles Okpanachi , Joshua‬‬
‫}‪{24‬‬ ‫‪Application and the Financial Performance of‬‬
‫‪Deposit Mney Banks in Nigeria: An Impact‬‬
‫‪Assessment, Research Journal of Finance and‬‬
‫}‪{25‬‬ ‫‪Accounting , Vol.4, No.2,pp53-64.‬‬ ‫‪:; 0.:‬‬
‫‪http://www.iiste.org/Journals/index.php/RJFA/article‬‬
‫‪/view/4432/4500‬‬
‫}‪{26‬‬ ‫‪Gowthorpe, C, and Amat, O, (2005), Creative‬‬ ‫}‪{12‬‬
‫‪Accounting: Some ethical Issues of Macro- And‬‬
‫‪Micromanipulation, Journal of Business Ethics, Vol.‬‬
‫}‪{27‬‬
‫‪57, No. 1, pp. 55-64.‬‬
‫ﺟﺮﺍﺭ‪ ،‬ﻋﺪﻱ‪2006) ،‬ﻡ(‪ ،‬ﺗﻄﻮﻳﺮ ﺇﺳﺘﺮﺍﺗﻴﺠﻴﺔ ﻟﻠﺤﺪ ﻣﻦ ﺍﻵﺛﺎﺭ ﺍﻟﺴﻠﺒﻴﺔ‬ ‫}‪{13‬‬
‫ﻻﺳﺘﺨﺪﺍﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ ﺍﻷﺭﺩﻧﻴﺔ‪،‬‬
‫}‪{28‬‬
‫ﺃﻁﺮﻭﺣﺔ ﺩﻛﺘﻮﺭﺍﻩ ﻏﻴﺮ ﻣﻨﺸﻮﺭﺓ‪ ،‬ﺟﺎﻣﻌﺔ ﻋﻤﺎﻥ ﺍﻟﻌﺮﺑﻴﺔ ﻟﻠﺪﺭﺍﺳﺎﺕ‬
‫ﺍﻟﻌﻠﻴﺎ‪ ،‬ﻋﻤﺎﻥ‪.‬‬
‫ﺍﻟﻤﺨﻴﺰﻳﻢ‪ ،‬ﻋﺒﺪﺍﻟﺮﺣﻤﻦ ﺃﺣﻤﺪ )‪2008‬ﻡ(‪ ،‬ﺩﻭﺭ ﺍﻟﻤﺪﻗﻖ ﻓﻲ ﺍﻟﺘﺤﻘﻖ ﻣﻦ‬ ‫}‪{14‬‬
‫ﻣﻤﺎﺭﺳﺎﺕ ﻭﻧﺘﺎﺋﺞ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ‪ ،‬ﻣﺴﺎﺑﻘﺔ‪.‬‬
‫}‪{29‬‬
‫ﺍﻟﺒﺤﻮﺙ ﺍﻟﺘﺎﺳﻌﺔ ﻋﻠﻰ ﻣﺴﺘﻮﻯ ﺟﻤﻴﻊ ﻗﻄﺎﻋﺎﺕ ﺩﻳﻮﺍﻥ ﺍﻟﻤﺤﺎﺳﺒﺔ‪ ،‬ﺩﻳﻮﺍﻥ‬
‫ﺍﻟﻤﺤﺎﺳﺒﺔ ‪ ،‬ﺍﻟﻜﻮﻳﺖ‪.‬‬
‫ﺣﻤﺎﺩﺓ‪ ،‬ﺭﺷﺎ )‪2010‬ﻡ(‪ ،‬ﺩﻭﺭ ﻟﺠﺎﻥ ﺍﻟﻤﺮﺍﺟﻌﺔ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ ﻣﻤﺎﺭﺳﺎﺕ‬ ‫}‪{15‬‬
‫}‪{30‬‬ ‫ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ )ﺩﺭﺍﺳﺔ ﻣﻴﺪﺍﻧﻴﺔ(‪ ،‬ﻣﺠﻠﺔ ﺟﺎﻣﻌﺔ ﺩﻣﺸﻖ ﻟﻠﻌﻠﻮﻡ‬
‫ﺍﻻﻗﺘﺼﺎﺩﻳﺔ ﻭﺍﻟﻘﺎﻧﻮﻧﻴﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺩﻣﺸﻖ‪ ،‬ﺍﻟﻤﺠﻠﺪ ‪ ،26‬ﺍﻟﻌﺪﺩ ﺍﻟﺜﺎﻧﻲ‪ ،‬ﺹ‬
‫ﺹ ‪.118-87:‬‬
‫ﻣﺮﺍﺯﻗﺔ‪ ،‬ﺻﺎﻟﺢ ﻭ ﺑﻮﻫﺮﻳﻦ ‪ ،‬ﻓﺘﻴﺤﺔ )‪2010‬ﻡ( ‪ ،‬ﺍﻹﺑﺪﺍﻉ ﺍﻟﻤﺤﺎﺳﺒﻲ ﻣﻦ‬ ‫}‪{16‬‬
‫ﺧﻼﻝ ﻣﻌﺎﻳﻴﺮ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﺪﻭﻟﻴﺔ‪ ،‬ﺍﻟﻤﻠﺘﻘﻰ ﺍﻟﺪﻭﻟﻲ ﺣﻮﻝ ﺍﻟﻤﻨﻈﻤﺎﺕ‬
‫}‪{31‬‬ ‫ﺍﻟﺤﺪﻳﺜﺔ‪ ،‬ﺟﺎﻣﻌﺔ ﺳﻌﺪ ﺩﺣﻠﺐ – ﺍﻟﺒﻠﻴﺪﺓ ‪ ،‬ﻛﻠﻴﺔ ﺍﻻﻗﺘﺼﺎﺩﻳﺔ ﻭﻋﻠﻮﻡ‬
‫ﺍﻟﺘﺴﻴﻴﺮ ﺍﻟﺘﻨﻈﻴﻤﻲ ﻓﻲ ﺍﻹﺑﺪﺍﻉ ﻭﺍﻟﺘﻐﻴﻴﺮ‪.‬‬
‫‪Gherai Balaciu, Diana and Elisabeta (2011), From‬‬ ‫}‪{17‬‬
‫‪Creative Accounting Practices And, Dana Simona,‬‬
‫‪Enron Phenomenon to The Current Financial‬‬
‫}‪{32‬‬ ‫‪Crisis, Annales Universitatis Apulensis Series‬‬
‫‪Oeconomica, University of Alba Iulia, Romania,‬‬
‫‪Faculty of Sciences 13(1), p34-41.‬‬
‫ﺍﻷﻏﺎ‪ ،‬ﻋﻤﺎﺩ ﺳﻠﻴﻢ )‪2011‬ﻡ(‪ ،‬ﺩﻭﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺤﺪ ﻣﻦ‬ ‫}‪{18‬‬
 THE ARAB ECONOMICS AND BUSINESS JOURNAL 8 (2013) 63–73
.‫ ﺑﺎﻟﺘﻌﺎﻭﻥ ﻣﻊ ﺍﻻﺗﺤﺎﺩ ﺍﻟﻌﺮﺑﻲ‬،‫ﺍﻟﺪﺍﺧﻠﻲ ﻓﻲ ﺇﻁﺎﺭ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬
" ‫ﻟﺨﺒﺮﺍء ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻟﻘﺎﻧﻮﻧﻴﻮﻥ ﻭﻭﺯﺍﺭﺓ ﺍﻻﺳﺘﺜﻤﺎﺭ " ﻣﺮﻛﺰ ﺍﻟﻤﺪﻳﺮﻳﻦ‬
،‫ ﺩﻭﻟﺔ ﺍﻹﻣﺎﺭﺍﺕ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﻤﺘﺤﺪﺓ – ﺍﻟﺸﺎﺭﻗﺔ‬،‫ﺑﺠﻤﻬﻮﺭﻳﺔ ﻣﺼﺮ ﺍﻟﻌﺮﺑﻴﺔ‬
.‫ﻡ‬2009 ،‫ ﺍﻟﻘﺎﻫﺮﺓ‬،‫ﻣﻨﺸﻮﺭﺍﺕ ﺍﻟﻤﻨﻈﻤﺔ ﺍﻟﻌﺮﺑﻴﺔ ﻟﻠﺘﻨﻤﻴﺔ ﺍﻹﺩﺍﺭﻳﺔ‬
‫ ﺣﻮﻛﻤ ﺔ ﺍﻟﺸ ﺮﻛﺎﺕ ﻭﻣﻌﺎﻟﺠ ﺔ‬،(‫ﻡ‬2006) ‫ ﻣﺤﻤ ﺪ ﻣﺼ ﻄﻔﻰ‬، ‫ﺳ ﻠﻴﻤﺎﻥ‬
،‫ ﺍﻟ ﺪﺍﺭ ﺍﻟﺠﺎﻣﻌﻴ ﺔ‬،‫ﺍﻟﻔﺴ ﺎﺩ ﺍﻟﻤ ﺎﻟﻲ ﻭﺍﻹﺩﺍﺭﻱ – ﺩﺭﺍﺳ ﺔ ﻣﻘﺎﺭﻧ ﺔ‬
.28‫ ﺹ‬،‫ﺍﻹﺳﻜﻨﺪﺭﻳﺔ‬
N.T, Tan Micheal (2006), Corporate Governance in {47}
China, Master thesis, School of Modern Language
Studies, University of New South Wales, Sydney,
p62.
Cdley, John and et.al (2005), What is Corporate {48}
Governance?, The Mccraw-Hill , USA , P3.
‫ ﺃﺛﺮ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻓﻲ ﺍﻟﺘﻨﻤﻴﺔ‬،(‫ﻡ‬2008) ‫ ﻣﻨﺎﻭﺭ‬، ‫ﺣﺪﺍﺩ‬
‫ ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﻠﻤﻲ ﺍﻷﻭﻝ ﺣﻮﻝ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻭﺃﺛﺮﻫﺎ ﻓﻲ‬،‫ﺍﻻﻗﺘﺼﺎﺩﻳﺔ‬
،‫ ﻛﻠﻴﺔ ﺍﻻﻗﺘﺼﺎﺩ‬،‫ ﺗﺸﺮﻳﻦ ﺍﻷﻭﻝ‬16-15 ‫ ﻣﻦ‬،‫ﺍﻹﺻﻼﺡ ﺍﻻﻗﺘﺼﺎﺩﻱ‬
. ‫ ﺩﻣﺸﻖ‬،‫ﺟﺎﻣﻌﺔ ﺩﻣﺸﻖ‬
‫ ﺃﺛﺮ ﺑﻴﺎﻧﺎﺕ ﺍﻟﺘﻜﺎﻟﻴﻒ ﻓﻲ‬،(‫ﻡ‬2010) ‫ ﺃﺣﻤﺪ ﻣﺤﻤﻮﺩ ﺧﻠﻴﻞ‬، ‫ﺍﻷﺳﻄﻞ‬
‫ﺗﻔﻌﻴﻞ ﺍﻟﻘﺪﺭﺓ ﺍﻟﺘﻨﺎﻓﺴﻴﺔ ﻓﻲ ﺿﻮء ﺁﻟﻴﺎﺕ ﺍﻟﺤﻮﻛﻤﺔ – ﺩﺭﺍﺳﺔ ﺗﻄﺒﻴﻘﻴﺔ‬
،‫ﻋﻠﻰ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﺼﻨﺎﻋﻴﺔ ﺍﻟﻤﺪﺭﺟﺔ ﻓﻲ ﺳﻮﻕ ﻓﻠﺴﻄﻴﻦ ﻟﻸﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬
،‫ ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‬،‫ ﻋﻤﺎﺩﺓ ﺍﻟﺪﺭﺍﺳﺎﺕ ﺍﻟﻌﻠﻴﺎ‬،‫ﺭﺳﺎﻟﺔ ﻣﺎﺟﺴﺘﻴﺮ ﻏﻴﺮ ﻣﻨﺸﻮﺭﺓ‬
. ‫ ﻓﻠﺴﻄﻴﻦ‬،‫ﺍﻟﺠﺎﻣﻌﺔ ﺍﻹﺳﻼﻣﻴﺔ – ﻏﺰﺓ‬
‫ ﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ‬،(‫ﻡ‬2005) ‫ ﺷﻮﻗﻲ ﻋﺒﺪﺍﻟﻌﺰﻳﺰ ﺑﻴﻮﻣﻲ‬، ‫ﺍﻟﺤﻔﻨﺎﻭﻱ‬
‫ ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﻠﻤﻲ‬،‫ﻭﺃﺛﺮﻫﺎ ﻓﻲ ﻋﻼﺝ ﺃﻣﺮﺍﺽ ﺍﻟﻔﻜﺮ ﻭﺍﻟﺘﻄﺒﻴﻖ ﺍﻟﻤﺤﺎﺳﺒﻲ‬
.‫ ﺳﺒﺘﻤﺒﺮ‬10-8 ،‫ ﺟﺎﻣﻌﺔ ﺍﻹﺳﻜﻨﺪﺭﻳﺔ‬،‫ ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‬،‫ﺍﻟﺴﻨﻮﻱ ﺍﻟﺨﺎﻣﺲ‬
Jones, Michael (2011), Creative Accounting, Fraud {52}
and International Accounting Scandals, John Wiley
& Sons Ltd.
Gulzar, M. Awais, zongjun, wang (2011), Corporate {53}
Governance Characteristics and Earnings
Management: Empirical Evidence from Chinese
Listed Firms, International Journal of Accounting
and Financial Reporting, Macrothink Institute, Las
Vegas, USA Vol 1, No 1, p133.
Governance : Empirical Evidence from Chinese {54}
Listed Firms, International Journal of Accounting
and Financial Reporting , Macrothink Institute, Las
Vegas ,USA Vol 1, Characteristics and Earnings
Management, No 1, p133. . ‫ﺑﺎﺳﺘﺨﺪﺍﻡ ﻣﺒﺎﺩﺉ ﺍﻹﻓﺼﺎﺡ ﻭﺍﻟﺸﻔﺎﻓﻴﺔ ﻭﺣﻮﻛﻤﺔ ﺍﻟﺸﺮﻛﺎﺕ ﻣﻦ ﻣﻨﻈﻮﺭ‬
73
Belkaoui, Ahmed (2004), Accounting Theory, 5th {33}
Edition, Australia, Thomson learning, Inc, p59.
Mulford, Charles.W, and Comisky, Eugene E., {34}
{46} (2002), The Financial Numbers Game Detecting
Creative Accounting Practices, John Wiley and
Sons, Inc, p2-8.
Mulford, Charles.W, and Comisky, Eugene E., {35}
(2002), The Financial Numbers Game Detecting
Creative Accounting Practices, John Wiley and
Sons, Inc, p9.
‫ ﺃﺧﻼﻗﻴﺎﺕ ﺍﻟﻤﺤﺎﺳﺒﺔ‬،(‫ﻡ‬2005) ‫ ﻋﻔﺎﻑ‬،‫ ﻧﻌﻴﻢ ﻭ ﺃﺑﻮﺯﺭ‬، ‫ﺩﻫﻤﺶ‬ {36}
‫ ﺟﺎﻣﻌﺔ ﺍﻹﺳﺮﺍء‬،‫ ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﻠﻤﻲ ﺍﻷﻭﻝ‬،‫ﺍﻹﺑﺪﺍﻋﻴﺔ – ﻋﺮﺽ ﻭﺗﺤﻠﻴﻞ‬
{49} .‫ ﻣﺎﺭﺱ‬31-29 ‫ ﻣﻦ‬،‫ ﻋﻤﺎﻥ‬، ‫ﺍﻷﻫﻠﻴﺔ‬
Mulford, Charles.W, and Comisky, Eugene E., {37}
(2002), The Financial Numbers Game Detecting
Creative Accounting Practices, John Wiley and
{50} Sons, Inc, p357-358.
‫ ﺗﻄﻮﻳﺮ ﺇﺳﺘﺮﺍﺗﻴﺠﻴﺔ ﻟﻠﺤﺪ ﻣﻦ ﺍﻵﺛﺎﺭ ﺍﻟﺴﻠﺒﻴﺔ‬، (‫ﻡ‬2006) ،‫ ﻋﺪﻱ‬،‫ﺟﺮﺍﺭ‬ {38}
‫ﻻﺳﺘﺨﺪﺍﻡ ﺍﻟﻤﺤﺎﺳﺒﺔ ﺍﻹﺑﺪﺍﻋﻴﺔ ﻓﻲ ﺍﻟﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺎﻫﻤﺔ ﺍﻟﻌﺎﻣﺔ ﺍﻷﺭﺩﻧﻴﺔ‬
‫ ﺟﺎﻣﻌﺔ ﻋﻤﺎﻥ ﺍﻟﻌﺮﺑﻴﺔ ﻟﻠﺪﺭﺍﺳﺎﺕ‬، ‫ ﺃﻁﺮﻭﺣﺔ ﺩﻛﺘﻮﺭﺍﻩ ﻏﻴﺮ ﻣﻨﺸﻮﺭﺓ‬،
.66-65: ‫ ﺹ ﺹ‬،.‫ ﻋﻤﺎﻥ‬، ‫ﺍﻟﻌﻠﻴﺎ‬
{51} ‫ ﺍﻹﺭﺷﺎﺩﺍﺕ ﺍﻟﺪﻭﻟﻴﺔ ﻟﻠﻤﻤﺎﺭﺳﺔ‬،(‫ﻡ‬2009) ‫ﺍﻻﺗﺤﺎﺩ ﺍﻟﺪﻭﻟﻲ ﻟﻠﻤﺤﺎﺳﺒﻴﻦ‬ {39}
‫ ﺗﺮﺟﻤﺔ ﻭﺗﻌﺮﻳﺐ ﺍﻟﻬﻴﺌﺔ‬،‫ﺍﻟﺠﻴﺪﺓ ﺗﻘﻮﻳﻢ ﻭﺗﺤﺴﻴﻦ ﺍﻟﺤﻮﻛﻤﺔ ﻓﻲ ﺍﻟﻤﻨﺸﺂﺕ‬
.24‫ ﺹ‬،‫ ﺍﻟﺮﻳﺎﺽ‬،‫ﺍﻟﺴﻌﻮﺩﻳﺔ ﻟﻠﻤﺤﺎﺳﺒﻴﻦ ﺍﻟﻘﺎﻧﻮﻧﻴﻴﻦ‬
Okoye, Emma I , and Alao, Bashir Babatunde(2008) {40}
,The Ethics of Creative Accounting in Financial
Reporting : The Challenges of Regulatory Agencies
in Nigeria, The Certified National Accountant, Vol.
16, No. 1, p53. Available at SSRN:
http://ssrn.com/abstract=1791422.
Shah, Syed Zulfiqar Ali and Butt, Safdar (2011), {41}
Creative Accounting: A Tool to Help Companies in
a Crisis or a Practice to Land Them into Crises,
International Conference on Business and
Economics Research, IACSIT Press, Singapore
IPEDR Vol.16, p96.
‫ ﺍﻷﺯﻣﺔ ﺍﻟﻤﺎﻟﻴﺔ ﺍﻟﻌﺎﻟﻤﻴﺔ ﻭﺍﺳﺘﺸﺮﺍﻑ ﺍﻟﺤﻞ‬،(‫ﻡ‬2009) ‫ ﺃﺣﻤﺪ‬،‫ﻣﺨﻠﻮﻑ‬ {42}
‫ ﺑﺤﺚ ﻣﻘﺪﻡ ﺇﻟﻰ ﺍﻟﻤﻠﺘﻘﻰ ﺍﻟﻌﻠﻤﻲ ﺍﻟﺪﻭﻟﻲ ﺣﻮﻝ ﺍﻷﺯﻣﺔ ﺍﻟﻤﺎﻟﻴﺔ‬،‫ﺇﺳﻼﻣﻲ‬
- ‫ ﺟﺎﻣﻌﺔ ﻓﺮﺣﺎﺕ ﻋﺒﺎﺱ‬،‫ﻭﺍﻻﻗﺘﺼﺎﺩﻳﺔ ﺍﻟﺪﻭﻟﻴﺔ ﻭﺍﻟﺤﻮﻛﻤﺔ ﺍﻟﻌﺎﻟﻤﻴﺔ‬
.‫ ﺃﻛﺘﻮﺑﺮ‬21 – 20 ،‫ ﺍﻟﺠﺰﺍﺋﺮ‬،‫ﺳﻄﻴﻒ‬
‫ ﻣﺪﺧﻞ ﻣﻘﺘﺮﺡ ﻟﻘﻴﺎﺱ ﺍﻷﺛﺮ‬،(‫ﻡ‬2008) ‫ ﺳﺎﻟﻢ ﻣﺤﻤﺪ ﺳﻌﻴﺪ‬،‫ﺑﺎﻓﻘﻴﺮ‬ {43}
‫ﺍﻟﺤﻮﻛﻤﻲ ﻟﻠﻤﺮﺍﺟﻊ ﻋﻠﻰ ﻣﻤﺎﺭﺳﺔ ﺇﺩﺍﺭﺓ ﺍﻷﺭﺑﺎﺡ ﻟﻠﺸﺮﻛﺎﺕ ﺍﻟﻤﺴﺠﻠﺔ ﻓﻲ‬
‫ ﻛﻠﻴﺔ ﺍﻟﺘﺠﺎﺭﺓ‬،‫ ﺭﺳﺎﻟﺔ ﺩﻛﺘﻮﺭﺍﻩ ﻏﻴﺮ ﻣﻨﺸﻮﺭﺓ‬، ‫ﺃﺳﻮﺍﻕ ﺍﻷﻭﺭﺍﻕ ﺍﻟﻤﺎﻟﻴﺔ‬
. ‫ ﺟﺎﻣﻌﺔ ﻗﻨﺎﺓ ﺍﻟﺴﻮﻳﺲ‬،‫ﺑﺎﻹﺳﻤﺎﻋﻴﻠﻴﺔ‬
Hutchinson, Marion R. and et.al, (2008) , An {44}
Investigation of the Association Between Corporate
Governance, Earnings Management and the Effect
of Governance Reforms, Accounting Research
Journal 21(3), pp. 239-262.
‫ ﺍﻟﺘﺪﻗﻴﻖ ﺍﻟﺪﺍﺧﻠﻲ ﻓﻲ ﺇﻁﺎﺭ ﺣﻮﻛﻤﺔ‬، (‫ﻡ‬2005) ‫ ﺧﻠﻒ ﻋﺒﺪﷲ‬،‫ﺍﻟﻮﺭﺩﺍﺕ‬ {45}
‫ ﺑﺤﻮﺙ ﻭﺃﻭﺭﺍﻕ ﻋﻤﻞ ﺍﻟﻤﺆﺗﻤﺮ ﺍﻟﻌﺮﺑﻲ ﺍﻷﻭﻝ ﺣﻮﻝ ﺍﻟﺘﺪﻗﻴﻖ‬،‫ﺍﻟﺸﺮﻛﺎﺕ‬