This study aims to evaluate the progress of a number of aspects of corporate governance practice by listed companies on the Egyptian exchange and investigates the impact of firm characteristics, on transparency and disclosure, as main pillars of corporate governance. To achieve the study’s objectives, the authors selected 12 factors to be used in the evaluation of the progress of corporate governance. In addition to factors selected, a transparency and disclosure index of 65 items was used. Items were grouped into two main categories including “general and board information” and “financial and non-financial information”. The paper employs statistical analysis to examine the relationship between firm characteristics from one side and transparency and disclosure from the other. The primary analysis indicates a noticeably weak practice for most of the 12 features included in the CG feature index by Egyptian listed companies and the univariate analysis reveals that there is a significant positive association between the transparency and disclosure index from one side and three of the independent variables namely foreign listing, firm size, and audit firm from the other. Findings of the multivariate analysis are nearly consistent with those of the univariate analysis especially for results related to the independent variable of foreign listing and firm size.
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