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Article
Publication date: 2 July 2018

Awad Elsayed Awad Ibrahim

This paper aims to provide further evidence on asymmetric cost behavior (cost stickiness) from one of the emerging economies, Egypt. The study provides empirical evidence on the…

1372

Abstract

Purpose

This paper aims to provide further evidence on asymmetric cost behavior (cost stickiness) from one of the emerging economies, Egypt. The study provides empirical evidence on the potential impact of corporate governance on nature and extent of asymmetric cost behavior.

Design/methodology/approach

The study estimates three multiple regression models using ordinary least squares to examine the behavior of cost of goods sold (COGS) and the influence of board characteristics and other control variables in a sample of 80 listed companies during 2008-2013.

Findings

The analysis provides evidence on COGS asymmetric behavior, where the analysis finds that COGS increases by 1.05 per cent but decrease by 0.85 per cent for an equivalent activity change of 1 per cent, which contradicts the traditional cost model assumption that costs behave linearly. In addition, the analysis finds that firm-year observations with larger boards, role duality and higher non-executives ratio exhibit greater cost asymmetry than others, while firms-years with successive sales decrease, higher economic growth and institutional ownership found to exhibit lower cost stickiness.

Originality/value

This study contributes by providing evidence on asymmetric cost behavior from one of emerging economies. Further, the study extends the very few studies on the relationship between corporate governance and asymmetric cost behavior. In addition, the study contributes by examining a different cost type (COGS) that has been examined by very few studies. Finally, the study provides an evaluation of the 2007 Egyptian Corporate Governance Code in the cost behavior context.

Details

Accounting Research Journal, vol. 31 no. 2
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 24 June 2020

Awad Elsayed Awad Ibrahim, Tarek Abdelfattah and Khaled Hussainey

The authors examine whether managers switch from artificial income smoothing using discretionary accruals to real income smoothing around corporate governance reform in Egypt.

782

Abstract

Purpose

The authors examine whether managers switch from artificial income smoothing using discretionary accruals to real income smoothing around corporate governance reform in Egypt.

Design/methodology/approach

The sample comprises 61 non-financial companies listed on the Egyptian Stock Exchange for the years 2004–2011. The authors use discretionary accruals as a proxy for artificial income smoothing and income/loss from asset sales as a proxy for real income smoothing.

Findings

The authors offer a significant contribution to accounting literature by providing new empirical evidence on the trade-off between real smoothing technique (e.g. income/loss from asset sales) and discretionary accruals around governance reform in a developing country.

Research limitations/implications

This study suffers from some limitations. First, the study sample is limited to only 338 observations. However, this is due to collecting the data manually and to the small number of listed firms during the study period. Second, the study period ended in 2011 due to the unprecedented political instability after the 2011 Egyptian people revolution. Third, although this study examines the effect of corporate governance, not all the governance aspects have been examined in the study models due to the lack of data.

Practical implications

First, the results of the total samples reveal that managers prefer real income smoothing than accruals income smoothing. This result may confirm the literature arguments on the advantages of REM methods over AEM methods. Cohen et al. (2008) find that firms switch to manage earnings using REM methods and explain that REM methods are harder to detect because they depend on operating decisions (Schipper, 1989). REM can be undertaken anytime during the year (Gunny, 2010). Besides, REM could not be deemed a violation of accounting standards or regulations (MyVay, 2006).

Originality/value

The authors offer a significant contribution to accounting literature by providing new empirical evidence on the trade-off between real smoothing technique (e.g. income/loss from asset sales) and discretionary accruals around governance reform in a developing country.

Details

Journal of Applied Accounting Research, vol. 21 no. 4
Type: Research Article
ISSN: 0967-5426

Keywords

Available. Content available
Article
Publication date: 8 February 2022

Awad Elsayed Awad Ibrahim and Khaled Hussainey

810

Abstract

Details

Accounting Research Journal, vol. 35 no. 1
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 6 February 2017

Awad Elsayed Awad Ibrahim and Amr Nazieh Ezat

The purpose of this paper is to provide further empirical evidence on the asymmetric cost behavior, cost stickiness, in an emerging country, Egypt, which lacks academic research…

2384

Abstract

Purpose

The purpose of this paper is to provide further empirical evidence on the asymmetric cost behavior, cost stickiness, in an emerging country, Egypt, which lacks academic research on this subject.

Design/methodology/approach

This study uses multiple regression analysis to analyze the behavior of selling, general, and administrative costs (SG&A) and cost of goods sold (CGS) individually and jointly using total costs (TC) for the period 2004-2011 for Egyptian-listed firms. In addition, the study compares the cost behavior three years prior to and after the application of the corporate governance code in Egypt in 2007.

Findings

The results indicate that asymmetric cost behavior is common among Egyptian-listed firms as their SG&A, CGS, and TC were found to be sticky during the study period. The application of the corporate governance code in Egypt was found to affect the nature of SG&A – the behavior of these costs changed from sticky before the code to anti-sticky after the application of the code. Moreover, the code was found to affect the magnitude of stickiness of both CGS and TC.

Originality/value

Greater awareness about cost behavior is important for emerging markets such as Egypt in order to protect investors’ interests and satisfy their information needs. To the best of our knowledge, this study is the first to provide evidence on cost stickiness in Egypt. Moreover, this study provides further evidence on the correlation between corporate governance and asymmetric cost behavior.

Details

Journal of Accounting in Emerging Economies, vol. 7 no. 1
Type: Research Article
ISSN: 2042-1168

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Article
Publication date: 27 September 2024

Mosa Abdelgelil Amin, Eman Mohamed Abdelmaged, Awad Elsayed Ibrahim and Tarek Abdelfattah

This study aims to investigate the relationship between Chief Executive Officer (CEO) characteristics and audit report lag (ARL) in Egypt, an emerging economy characterized by…

698

Abstract

Purpose

This study aims to investigate the relationship between Chief Executive Officer (CEO) characteristics and audit report lag (ARL) in Egypt, an emerging economy characterized by high power distance and a culture of secrecy. The study utilizes a theoretical framework that integrates agency theory, stewardship theory, and upper echelons theory as the foundation for examining this relationship.

Design/methodology/approach

The sample consists of 587 firm-year observations from non-financial firms listed on the EGX100, covering the period from 2012 to 2019. The primary variable of the study (ARL) is measured using different proxies. The analysis utilizes both Ordinary Least Squares (OLS) and logistic regression models, with additional analysis considering CEO power and using board gender diversity as a moderating variable.

Findings

The study finds that CEO characteristics significantly affect ARL, demonstrating a negative association between CEO ownership, founder status, family ties, duality and ARL. These findings remain robust after a series of tests using alternative measures. Additional analysis reveals that CEO power is negatively and significantly related to ARL. Interestingly, the negative association between CEO characteristics and ARL is more pronounced in boards without female members.

Originality/value

Although extensive research has been conducted on the factors determining ARL, few studies have examined the impact of CEO characteristics on ARL, particularly in emerging economies such as Egypt. The business environment in Egypt is characterized by high power distance and a secretive culture, providing a unique context for this study.

Details

International Journal of Accounting & Information Management, vol. 33 no. 1
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 6 July 2015

Awad Elsayed Awad Ibrahim

This paper aims to examine whether costs respond asymmetrically to demand change, and examine the influence of economic growth on cost stickiness, in the pre- and post-2008…

5177

Abstract

Purpose

This paper aims to examine whether costs respond asymmetrically to demand change, and examine the influence of economic growth on cost stickiness, in the pre- and post-2008 financial crisis periods.

Design/methodology/approach

This study uses multiple regression models to investigate the behavior of three costs: selling, general and administrative (SG & A), cost of goods sold (COGS) and operating costs (OCs) for the 2004-2011 period. Moreover, the study compares cost stickiness during the economic prosperity period (2006-2008) with cost stickiness during the economic recession period (2009-2011).

Findings

The results reveal that SG & A increased by 0.38 per cent but decreased by 0.08 per cent, and COGS increased by 1.02 per cent but decreased by 0.57 per cent for a 1 per cent demand change, which proves cost stickiness. However, OC increased by 0.91 per cent, but decreased by 1.03 per cent for a 1 per cent demand change, which proves cost anti-stickiness. Moreover, SG & As were sticky during the prosperity period, but anti-sticky during the recession period. COGSs were sticky in both periods; however, the extent of cost stickiness is larger in the prosperity period. In contrast, OC were statistically insignificant in both periods.

Originality/value

The results imply that managers should not use the same cost model all the time, as the economic growth fluctuations were found to affect the nature and extent of cost behavior. In addition, researchers should provide a modified cost model that considers the nonlinearity of correlation between costs and activity.

Details

Journal of Financial Reporting and Accounting, vol. 13 no. 1
Type: Research Article
ISSN: 1985-2517

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Article
Publication date: 27 September 2022

Gomaa Abdel-Maksoud, Aya Abdallah, Rana Youssef, Doha Elsayed, Nesreen Labib, Wael S. Mohamed and Medhat Ibrahim

This study aims to evaluate the efficiency of using some polymers at different concentrations in the consolidation of vegetable-tanned leather artifacts.

155

Abstract

Purpose

This study aims to evaluate the efficiency of using some polymers at different concentrations in the consolidation of vegetable-tanned leather artifacts.

Design/methodology/approach

New vegetable-tanned leather samples were prepared. The consolidants used were polyacrylamide (PAM) and polymethyl methacrylate/hydroxyethyl methacrylate (MMA-HEMA). Accelerated heat aging was applied to the untreated and treated samples. Analytical techniques used were Fourier transform infrared spectroscopy (FTIR), digital microscope, scanning electron microscope (SEM), change of color and mechanical properties.

Findings

The characteristic FTIR bands showed the effect of accelerated heat aging on the molecular structure of the studied samples, but treated and aged treated samples used were better than aged untreated samples. Microscopic investigations (digital and SEM), and mechanical properties proved that 2% was the best concentration for polymers used. The change in the total color difference of the treated and aged treated samples was limited.

Originality/value

This study presents the important results obtained from PAM and poly(MMA-HEMA) used for the consolidation of vegetable-tanned leather artifacts. The best results of the studied polymers can be applied directly to protect historical vegetable-tanned leathers.

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Article
Publication date: 24 July 2023

Rana Bahaa Elsayed, Eman EZZ Elsharkawy and Ahmed Abdelbaky Sharkawy

The purpose of this study was to determine the incidence and concentrations of aflatoxin M1 (AFM1) in raw buffalo milk samples obtained from four different seasons: winter…

100

Abstract

Purpose

The purpose of this study was to determine the incidence and concentrations of aflatoxin M1 (AFM1) in raw buffalo milk samples obtained from four different seasons: winter, spring, summer and autumn in Sohag City, upper Egypt, and compared the determined findings against the several regulations regarding AFM1 that have been legislated by the European Union, US Food and Drug Administration and Egyptian Regulations.

Design/methodology/approach

Simultaneous determination of aflatoxins in raw buffalo milk samples trailed in different seasons, in Sohag City, Egypt. The aflatoxin that has been included in this survey is AFM1. Milk samples were obtained from February to October 2021. The enzyme-linked immunosorbent assay was used as a methodology technique.

Findings

The results of AFM1 presented the highest frequency of occurrence, with a detected incidence of 85.5% in winter samples, 64.2% in spring samples, 78.5% in summer samples and 78.5% in autumn samples. The positive samples showed concentration range levels of AFM1 between 0.0 and 0.9 µg/kg (12 samples) in winter samples, 0.03 and 1.2 µg/kg in spring milk samples (9 samples), 0.06 and 0.8 µg/kg in summer milk samples (11 samples) and lasted with 0.028 and 0.9 µg/kg in autumn milk samples (11 samples). The percentage of AFM1samples exceeded the maximum residues limit of Egyptian Standard Regulation 2010/7136 last updated, 78%, 57%, 100% and 64% in the four examined seasons, respectively.

Originality/value

The residue levels of AFM1 obtained in the investigated samples represented a serious concern about the health risk of consumers. Milk is introduced to the diet plan all over the people units especially the offspring ones as it is a complete food that contains a lot of important nutrients. So it is worth to set a regular schedule for monitoring and inspection of dairy products for aflatoxin residues.

Details

Nutrition & Food Science , vol. 54 no. 1
Type: Research Article
ISSN: 0034-6659

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Article
Publication date: 17 January 2023

Engy ELsayed Abdelhak, Khaled Hussainey and Khaldoon Albitar

This study aims to examine the impact of internal corporate governance and audit quality on the level of COVID-19 disclosure in Egypt.

701

Abstract

Purpose

This study aims to examine the impact of internal corporate governance and audit quality on the level of COVID-19 disclosure in Egypt.

Design/methodology/approach

The authors use manual content analysis to measure levels of COVID-19 disclosure in the narrative sections of annual reports. The authors analyze all companies listed on the Egyptian Stock Exchange over 2020–2021. The authors use different regression models to test the research hypotheses.

Findings

The analysis adds to the literature in two crucial respects. First, it provides a measure for COVID-19 disclosure in Egypt. Second, it provides evidence that governance mechanisms (board diversity, audit committee [AC] independence), auditor type and audit opinion affect the level of COVID-19 disclosure. The higher level of COVID-19 disclosure is associated with firms with more female directors on the board, being audited by one of the big four audit firms and receiving standard clean audit opinion. While the inexistence of an AC and more executives on the AC negatively affect COVID-19 disclosure levels.

Originality/value

To the best of the authors’ knowledge, it is the only paper that examines COVID-19 disclosure in the Egyptian context. It is also the first paper that provides evidence on the impact of internal governance and audit quality on COVID-19 disclosure.

Details

International Journal of Accounting & Information Management, vol. 31 no. 1
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 16 June 2023

Gomaa Abdel-Maksoud, Hanaa Nasr, Sayed Hussein Samaha and Mahmoud Saad ELdeen Kassem

This study aims to evaluate the state of preservation of one of the most famous manuscripts dated back to the 15th century using some analytical techniques to identify the…

246

Abstract

Purpose

This study aims to evaluate the state of preservation of one of the most famous manuscripts dated back to the 15th century using some analytical techniques to identify the manuscript components, explain its deterioration mechanisms and produce some solutions for conservation processes in future studies.

Design/methodology/approach

The analytical techniques used were visual assessment, digital microscope, scanning electron microscope (SEM) with EDX, pH measurement, attenuated total reflection – Fourier transform infrared spectroscopy (ATR/FTIR) and cellulose crystallinity.

Findings

Stains, missed parts and scratching were the most common aspects of deterioration. Some insects were observed by digital microscope. The SEM showed that linen fibers and goat skin were used to manufacture paper sheets and leather binding. Energy dispersive X-ray analysis proved that niobium and tantalum were added during the manufacture of paper sheets. Carbon black ink was the main writing material. The other pigments used were cinnabar in red ink, gold color from brass and blue color from lapis lazuli. FTIR analysis proved that some chemical changes were noticed. Low crystallinity of the historical paper was obtained. There was a reduction in the pH value of the historical bookbinding.

Originality/value

The importance of the analytical techniques used to detect the main components, forms and mechanism of deterioration of the studied manuscript. The elements of niobium and tantalum were added to paper sheets, which protected them from deterioration. The insects such as house flies and Sitophilus granarius were found in the manuscripts.

Details

Pigment & Resin Technology, vol. 53 no. 6
Type: Research Article
ISSN: 0369-9420

Keywords

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