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This study aims to compare the use of risk-sharing and risk-shifting contracts (RSFCs) in Islamic banks using a triple grouping of conservative, moderate and liberal Islamic banks based on the Khaled Khandelwal (KK) model. Six fundamental Islamic contracts are used in this study, namely, Mushãrakah, Mudãrabah, Murãbaha, Salam, Ijãrah, Istisnã. Mushãrakah and Mudãrabah represent profit and loss sharing contracts (i.e., risk-sharing contracts – RSHCs), whereas Murãbaha, Salam, Ijãrah and Istisnã represent RSFCs. This study extends the previous studies by addressing an issue that has been neglected in the literature. The extent to which the two groups of contracts are used is extremely important because of its effect on the valuation of Islamic banks and on their earning quality.

This study aims to analyze, using descriptive statistics and inferential statistics, the use of RSHCs and RSFCs made by 72 fully Islamic banks, using a sample that includes banks in most of the countries where Islamic banks are present. Only fully Islamic Banks were considered, that is, banks that are essentially mainstream banks; therefore, banks that include only a specific line of Islamic products, often called the Islamic Window, were excluded. The total number of the sample was 118, but the study was restricted to 72 banks due to the availability of time series data covering the period of study, 2007 to 2015.

The study documents that over the period 2007 to 2015 the moderate banks have better distribution and balance of RSHCs and RSFCs than the conservative and liberal banks. The conservative banks are found to depend greatly on RSFCs, whereas the liberal banks are found to depend almost completely on RSFCs. Unexpectedly, the conservative banks have not shown a noticeable improvement over the period of analysis on their level of reliance on RSHCs. The results show that there is a significant difference in the percentage income distribution of the two contracts between the moderate banks and the conservative banks and between the moderate banks and the liberal banks. However, no significant difference was found between the conservative banks and the liberal banks.

The study uses an alternate rating model for Islamic financial institutions. The study examined the issue of risk sharing and risk shifting contracts usage in banks for a long period of nine years and at a global level and with an additional dimension of three categories of Islamic Banks based on the KK model.

This study aims to explore the influence of corporate sustainability on organizational value, specifically focusing on companies ranked in the Just Capital Market ranking. The aim is to establish whether higher sustainability rankings are associated with increased firm value and to investigate how corporate social responsibility (CSR) activities affect both financial and non-financial outcomes.

This study uses the Ohlson model to assess the value-generation potential of the top and bottom ten companies in the Just Capital Market ranking from 2013 to 2018. The analysis involves evaluating stock prices and other financial metrics and incorporating non-financial indicators related to CSR activities to gain a comprehensive understanding of their impact on firm valuation.

The results indicate a strong connection between high sustainability rankings and increased market value. Companies such as Microsoft, Intel and Alphabet, which have robust CSR initiatives, have shown significant improvements in market performance due to greater stakeholder engagement and detailed non-financial disclosures. On the other hand, companies with low sustainability ratings have demonstrated weaker market performance, which indicates the financial risks associated with neglecting CSR activities. This study underscores the critical importance of integrating CSR into fundamental business strategies to create sustainable value.

This study addresses the limitations of traditional financial indicators by incorporating non-financial factors into the valuation process. The study offers a more comprehensive assessment of firm value, reflecting modern business practices and the evolving global economy landscape. Integrating nonfinancial indicators enhances valuation accuracy and provides a holistic view of company performance, enabling stakeholders to make informed decisions based on a broader range of factors. This innovative method may reshape firm valuations, leading to more accurate and reliable assessments in contemporary business contexts.

In this study, the authors examine the relationships between market-based regulations and corporate carbon disclosure and carbon performance. The authors also investigate whether these relationships vary across emission-intensive and non-emission intensive industries.

The study sample consists of the world's 500 largest companies across most major industries over a recent five-year period. Country-specific random effect multiple regression analysis is used to test empirical models that predict relationships between market-based regulations and carbon disclosure and carbon performance.

Results indicate that market-based regulations significantly and positively affect corporate carbon performance. However, market-based regulations do not significantly affect corporate carbon disclosure. This study also finds that the association between regulatory pressures and carbon disclosure and carbon performance varies across emission-intensive and non-emission-intensive industries.

The findings of this study have key implications for policymakers, practitioners and future researchers in terms of understanding the factors that drive businesses to increase their carbon performance and disclosure. The study sample consists of only large firms, and future researchers can undertake similar studies with small and medium-sized firms.

The results of this study are expected to help business managers to identify the benefits of adopting market-based regulations. Regulators can use this study’s results to evaluate if market-based regulations effectively improve corporate carbon performance and disclosure. Furthermore, stakeholders may use this study to evaluate and improve their businesses' reporting of carbon disclosure and performance.

In contrast to current literature that has used command and control regulations as a proxy for regulation, this study uses market-based regulations as a proxy for climate change regulations. In addition, this study uses a more comprehensive measure of carbon disclosure and carbon performance compared to the previous studies. It also uses global multi-sector data from carbon disclosure project (CDP) in contrast to most current studies that use national data from annual reports of sample firms of specific sectors.

The main aim of this study is to investigate empirically the effect of some internal and external corporate governance mechanisms on the UAE firm performance (i.e., Tobin’s q). Like many of the developing countries all over the world, the UAE has recently initiated the application of the international standards of corporate governance as a part of its merge with the global economy. This study utilizes a sample of 51 firms using the accounting and market data available for 2004. The sample firms are all listed in either the Dubai Financial Market or the Abu Dubai Securities Market. The cross‐sectional regression analysis is employed to test the hypotheses of the study. The results of this study show that the governmental ownership, the debt ratio (total debt/total assets), and the payout dividends ratio have a significant impact on the firm performance; whereas the institutional investors, the board size, the firm size (sales), and the audit type show a non‐significant impact. This study concludes that three of the corporate governance mechanisms in the UAE used in this study appear to be strong enough to affect the firm performance. However, the other four mechanisms are found to have a weak effect on the firm performance which could be a result of the significant absence of some aspects of corporate governance practices and lack of enforcement of rules.

The purpose of this study is to examine the impact of corporate governance mechanisms on corporate financial decisions in one of the emerging economies, United Arab Emirates (UAE). In particular, the paper examines the degree to which internal corporate governance mechanisms and an external corporate governance mechanism affect UAE firms’ capital structure.

The paper uses a multiple regression analysis to examine the association between corporate governance and capital structure for a sample of 71 UAE firms listed either in the Dubai financial market or the Abu Dhabi securities market during 2006.

The paper finds that institutional investors have a negative impact on debt‐to‐equity ratio. This result does not support the “active monitoring hypotheses” where institutional investors are expected to exercise their voting rights effectively in order to prevent managers from reducing their “employment risk” at the expense of the interests of shareholders. It also finds that dividend policy is negatively associated with debt‐to‐equity ratio, while firms’ size is positively associated with debt‐to‐equity ratio.

Empirical analysis suggests that corporate governance mechanisms have important implications for UAE firms’ financial policies. UAE managers should be aware of the benefits of the implementation of effective internal and external corporate governance mechanisms while embracing international corporate governance standards. An effective implementation of the codes of corporate governance should improve the efficiency and effectiveness of UAE firms and the UAE stock markets.

To the best of the authors’ knowledge, there is no study that has yet empirically examined the effect of the corporate governance mechanisms on capital structure in UAE or Middle Eastern countries. This study offers the first evidence of the impact of corporate governance mechanisms on capital structure in UAE.

This paper aims to empirically explore the underlying factors that may affect the extent to which forward‐looking information is disclosed.

This study uses a list of forward‐looking keywords to demonstrate the differences, if any, in the level of disclosure among firms and between sectors. The sample includes 46 companies listed in either the Dubai financial market or the Abu Dubai securities market. Statistical analysis is performed using a backward regression.

Debt ratio and profitability are found to be significant; however, sector type, firm size, and auditor size are found to have insignificant association with the level of forward‐looking information disclosed in UAE annual reports.

A number of users, such as investors, lenders, and auditors, may find these results beneficial. These users may consider the results of this study when they are dealing with firms that have low profitability and high financial risk. Accordingly, they may wish to extend their investigations and verify such reporting practices. By doing this, the quality of information that is available to the public may be enhanced; and hence, users of annual reports may be better served.

It is important to note that the association between the extent of disclosure and the selected corporate attributes is still ambiguous. There are a very limited number of studies that have examined disclosure of forward‐looking information in developing countries and even fewer such studies may be found in the Middle Eastern countries. To the best of the one's knowledge, no study yet has examined the forward‐looking information disclosure issues in the UAE or Middle Eastern countries.

This study aims to examine the impact of a firm’s financial performance on forward-looking disclosure (FLD) tone and assess whether managers are engaging in impression management or providing truthful explanations when their companies have good or poor performance.

This study used the content analysis method to measure the tone of FLD in the chairman’s statements of Omani financial institutions for the period 2014–2018. Regression analysis is then used to test the research hypotheses.

The authors found that good-performing firms are disclosing more good news, whereas poor-performing firms disclose more bad news. The results provided evidence that managers in Oman are providing truthful explanations in their narratives.

This study offered interesting policy and practical implications for policymakers, managers and stakeholders. This paper provided insights to policymakers regarding the FLD tone practices used in the chairman’s reports in Oman. Policymakers should be aware of the importance of the chairman’s reports in the eye of multiple stakeholders and, therefore, need to set guidelines on the type and quality of non-financial voluntary information that should be disclosed in such reports in the context of emerging economies. For academics, evidence has been provided by this study’s results regarding the impact of corporate performance on disclosure tone.

This study offered a novel contribution to disclosure studies by being the first to examine the performance-disclosure narrative tone relation, in the context of Oman.

This paper aims to examine the impact of corporate governance mechanisms on forward-looking corporate social responsibility (CSR) disclosure (FCSRD).

The authors use the manual content analysis to measure FCSRD for a sample of 94 companies listed on the Amman Stock Exchange from 2010 to 2016. Data on companies' FCSRD are manually collected from annual reports. The authors also use regression analyses to test the research hypotheses.

The authors find that board size positively affects FCSRD, while CEO duality and family ownership negatively impact FCSRD.

To the best of the authors’ knowledge, this is the first evidence of how governance mechanisms affect FCSR information in corporate annual reports in a developing country.

This paper aims to provide a better understanding of the influence of contextual factors on public financial management reform (PFMR) process. It provides a comprehensive analytical view of PFMR in the UAE over the period (2003-2016).

The paper is based on a case study approach as a research methodology. It draws on archival data as well as interviews with key staff of the Ministry of Finance (MoF). A contingency model is used as conceptual framework to examine PFMR in the UAE.

Finding of this study show that the PFMR process cannot be viewed as an isolated initiative, rather, as part of a set of broader NPM reforms to strengthen public accountability for performance. The transition process creates major organisational changes; strategy, structure (new rules and roles), culture (core values about organisational vision, mission, and objectives). Benchmarks and milestones have been set in the accompanying monitoring matrix, though in practice, delays have typically occurred in the implementation of reforms. Challenges ahead facing the MoF are addressed.

The findings should be understood in the economic, social and historical contexts of the UAE. Given the narrow scope of this paper, a single case study was conducted. Crucial themes for future research including how public sector executives employ effective independent measures of outcomes. The impact of basic supporting subsystems in translating strategic priorities and integrating them into the federal budget.

Research on PFMR is inherently practical. Essential factors for successful implantation of PFMR include government strategy, regulatory framework, information communication technology, technical experience, strong leadership, long-term political and administrative commitments, strategic pre-decision control mechanisms and accurate performance measurement.

This paper contributes to the limited studies on PFMR in Middle East and North Africa (MENA) countries. Lessons of this study may be valid for other countries considering similar developments in their PFMR.