<p>Descriptive analysis.</p>

In this study, we investigated the effect of capital structure on financial reporting timeliness with an interaction role of CEO financial expertise. Using the fixed effects technique, we analysed data from listed firms on the Saudi Stock Market between 2014 and 2023. Our results showed that capital structure choice through debt financing may significantly influence firms to reveal their audited accounts on a timely basis to signal their financial capabilities. Additionally, the results provide strong evidence that a CEO’s financial expertise may enhance the role of debt financing in reducing audit report delays, consistent with upper echelons and agency theories. The findings appear to be robust with the use of alternative measures, the COVID-19 effect and endogeneity control.本研究考察了资本结构（capital structure）对财务报告及时性（financial reporting timeliness）的影响，并分析了首席执行官（CEO）财务专长的调节作用。研究采用固定效应技术（fixed effects technique），对2014至2023年沙特证券交易所（Saudi Stock Market）挂牌上市公司的相关数据进行了分析。结果表明，通过债务融资（debt financing）形成的资本结构选择，可显著促使企业及时披露经审计账目（audited accounts），以此传递自身财务实力信号。此外，研究结果提供了充分实证证据显示，CEO财务专长能够强化债务融资在缓解审计报告延迟（audit report delays）方面的作用，这一发现与高层梯队理论（upper echelons theory）和代理理论（agency theory）的核心逻辑一致。本研究通过替换变量测度方式、控制新冠疫情（COVID-19）效应以及开展内生性控制（endogeneity control），验证了上述研究结论的稳健性。