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Article
Publication date: 1 July 2006

Aiman A. Ragab and Mohammad M. Omran

The purpose of this paper is to examines empirically whether national and international investors in the Egyptian stock market perceive accounting information based on the…

2600

Abstract

Purpose

The purpose of this paper is to examines empirically whether national and international investors in the Egyptian stock market perceive accounting information based on the Egyptian Accounting Standards to be useful in stock valuation.

Design/methodology/approach

Using a sample of all available listed firms in the emerging market data base from 1998 to 2002, evidence of the value relevance of accounting information in Egypt was obtained, based on both return and price models.

Findings

The results suggest that stock prices in Egypt are less information about the future value of the firm than is accounting information. It is perhaps unreasonable to conclude that accounting information has higher value relevance in Egypt because financial reporting is of higher quality. It might, however, imply that competing information sources such as earnings forecasts, firm research by financial analysts, management conference calls, etc. are far less relevant in Egypt.

Originality/value

This study is of value in that it highlights how the Egyptian stock market needs complementary information sources other than published accounting reports, to become more informationally efficient.

Details

Review of Accounting and Finance, vol. 5 no. 3
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 30 October 2009

Mohammad M. Omran and John Pointon

The aim of this paper is to investigate differences in capital structures across industries in Egypt paying particular attention to: corporate characteristics, such as liquidity…

3886

Abstract

Purpose

The aim of this paper is to investigate differences in capital structures across industries in Egypt paying particular attention to: corporate characteristics, such as liquidity, asset structure, growth, and size; fiscal characteristics, namely, the application of differential corporate tax rates; and stock market activity.

Design/methodology/approach

Comparisons are made between the four main industrial sectors: food, heavy industries, contracting and services. For each industry four aspects of capital structure are assessed. Firms are also classified according to whether their shares are actively traded on the Egyptian stock market. Multiple regressions are run to test a range of hypotheses. ANOVA and multiple comparison procedures are also employed.

Findings

Across Egyptian firms, higher business risks do not generally result in lower levels of long‐term capital structure. The contracting sector is significantly different from food, heavy industries and services in its determinants of its short‐term financing and interest ratios. The sector also has a higher level of debt, and so a hypothesised tax‐induced higher debt level for the services sector, which has the highest corporate tax rate, is rejected. Asset‐backing is particularly important in heavy industries, and in non‐actively traded firms. Size and growth are positively related to short‐term financing in heavy industries and services.

Originality/value

The value lies in the comprehensiveness of the study, covering both short‐ and long‐term capital structures across industries, both income measures and capital indebtedness, and distinctions according to whether the shares are actively traded or not.

Details

Review of Accounting and Finance, vol. 8 no. 4
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 30 June 2020

Hadi Kashefi, Ahmad Sadegheih, Ali Mostafaeipour and Mohammad Mohammadpour Omran

To design, control and evaluate photovoltaic (PV) systems, an accurate model is required. Accuracy of PV models depends on model parameters. This study aims to use a new algorithm…

281

Abstract

Purpose

To design, control and evaluate photovoltaic (PV) systems, an accurate model is required. Accuracy of PV models depends on model parameters. This study aims to use a new algorithm called improved social spider algorithm (ISSA) to detect model parameters.

Design/methodology/approach

To improve performance of social spider algorithm (SSA), an elimination period is added. In addition, at the beginning of each period, a certain number of the worst solutions are replaced by new solutions in the search space. This allows the particles to find new paths to get the best solution.

Findings

In this paper, ISSA is used to estimate parameters of single-diode and double-diode models. In addition, effect of irradiation and temperature on I–V curves of PV modules is studied. For this purpose, two different modules called multi-crystalline (KC200GT) module and polycrystalline (SW255) are used. It should be noted that to challenge the performance of the proposed algorithm, it has been used to identify the parameters of a type of widely used module of fuel cell called proton exchange membrane fuel cell. Finally, comparing and analyzing of ISSA results with other similar methods shows the superiority of the presented method.

Originality/value

Changes in the spider’s movement process in the SSA toward the desired response have improved the algorithm’s performance. Higher accuracy and convergence rate, skipping local minimums, global search ability and search in a limited space can be mentioned as some advantages of this modified method compared to classic SSA.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering , vol. 40 no. 2
Type: Research Article
ISSN: 0332-1649

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Article
Publication date: 23 August 2022

Zabihollah Rezaee and Mohammad Hossein Safarzadeh

This study aims to examine the relationship between corporate governance (CG) and various measures of earnings quality in listed companies on Tehran Stock Exchange (TSE). The…

1369

Abstract

Purpose

This study aims to examine the relationship between corporate governance (CG) and various measures of earnings quality in listed companies on Tehran Stock Exchange (TSE). The theoretical intuition for prediction of any relationship between earnings quality and CG is based on the behavioral theory and the institutional settings in Iran.

Design/methodology/approach

This study used the data of 117 listed companies on the TSE for the period from 2005 to 2019. The authors use panel data regression as the main methodology, along with principal component analysis, t-test and rank-sum test.

Findings

This study finds that the CG has a positive association with earnings quality. More precisely, better CG mechanisms cause lower earnings smoothness, more predictable and persistent earnings, and higher levels of timeliness, conservatism and value relevance. The relationship between CG and earnings quality is statistically and economically significant for all models.

Originality/value

The findings further the understanding of the role of CG in improving earnings quality in an Islamic and emerging country. First, this study provides evidence on the relation between CG and earnings quality by focusing on the behavioral theory, which suggests that corporate decision-making is not only influenced by formal CG mechanisms, but also by informal CG arrangements. In this case, this study departs from the restrictive theories (specifically, agency theory) that are widely used in past literature. Second, this study constructs an index that fits to corporate context of Iran rather than applying indexes introduced in Anglo-American environments.

Details

Corporate Governance: The International Journal of Business in Society, vol. 23 no. 1
Type: Research Article
ISSN: 1472-0701

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Publication date: 19 December 2016

Mohammad Ashraful Ferdous Chowdhury and Mohamed Eskandar Shah Mohd Rasid

The main objective of this study is to identify the main determinants of the Islamic banks’ performance in Gulf Cooperation Council (GCC) regions.

Abstract

Purpose

The main objective of this study is to identify the main determinants of the Islamic banks’ performance in Gulf Cooperation Council (GCC) regions.

Methodology/approach

The research uses both static model (fixed effects and random effects) and Generalized method of Moments (GMM). The data for this study are obtained from the annual reports of 29 Islamic banks from GCC countries using Bankscope database for the period from 2005 to 2013.

Findings

The empirical findings reveal that Islamic banks’ specific factors such as the equity financing and bank size are positive and statistically significant to the profitability of Islamic banks. The operating efficiency ratio is negatively and statistically significant to return on asset. It is also found that macroeconomic variables such as money supply and inflation are negatively and statistically significant to the performance of Islamic banks whereas oil price has been found positive and statistically significant to the performance of Islamic banks in the GCC region.

Research implications

The present study seeks to fill a demanding gap in the literature by providing new empirical evidence on the factors that influence the profitability of the Islamic banking sector in GCC regions.

Originality/value

These findings have significant contribution to the literature by comprehensively clarifying and critically analyzing the current state of profitability among the Islamic banks in GCC regions.

Details

Advances in Islamic Finance, Marketing, and Management
Type: Book
ISBN: 978-1-78635-899-8

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Article
Publication date: 25 November 2013

Mohammad Alipour

The purpose of this paper is to study the effect of organizational change and privatization on the performance of state-owned enterprises (SOEs) using the data from Iranian firms…

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Abstract

Purpose

The purpose of this paper is to study the effect of organizational change and privatization on the performance of state-owned enterprises (SOEs) using the data from Iranian firms during the period 1998-2006, and to test whether privatization leads to improved performance.

Design/methodology/approach

The performance of these firms before and after privatization was examined. Pooled regression models were employed to assess the effect of privatization on performance indicators.

Findings

The results show that privatization has not had a positive effect on the profitability of the firms listed on the Tehran Stock Exchange; rather, the effect has been negative. Moreover, the results reveal that privatization of these firms has had no effect on their sales effectiveness and efficiency; instead, the debts and risks of these firms has increased. Further, ownership reform is needed to remedy the situation.

Research limitations/implications

The paper focuses on the effect of privatization on firm performance. Future research can consider the effects of privatization on other aspects such as efficiency and productivity.

Practical implications

The implications of the study are discussed in relation to the organizational changes that occur in the transition from public to private ownership. This study shows that improved performance of privatized firms cannot be taken for granted merely by ownership change. In other words, privatization must be accompanied by other economic adjustments such as adjustment of the capital market and the national banking system as well as formulation of corporate rules and regulations.

Originality/value

Privatization and organizational change of Iranian firms is an important issue and this paper is the first to provide a new approach regarding the effect of privatization of SOEs on their performance.

Details

International Journal of Commerce and Management, vol. 23 no. 4
Type: Research Article
ISSN: 1056-9219

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Article
Publication date: 25 June 2019

Abdel-Aziz Ahmad Sharabati, Mohammad M. Alhileh and Hesham Abusaimeh

The purpose of this paper is to investigate the effect of service quality on graduates’ satisfaction as perceived by Middle East University (MEU) graduates.

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Abstract

Purpose

The purpose of this paper is to investigate the effect of service quality on graduates’ satisfaction as perceived by Middle East University (MEU) graduates.

Design/methodology/approach

This research is cross-sectional and aims to explore the effect of service quality dimensions (academic staff, administration, classrooms and library services) on graduates’ satisfaction. Data were collected from 399 graduates. After confirming validity, reliability and normality of the data, and the correlation between variables, multiple regressions were used to test the hypothesis.

Findings

The results show that all service quality dimensions are highly implemented by the MEU. The relationships between all service quality dimensions and graduates’ satisfaction are strong. Finally, results show that all service quality dimensions affect graduates’ satisfaction.

Research limitations/implications

To generalize the results of this research, further studies are recommended to be carried out on other universities especially in Jordan. Testing the perception and satisfaction of other universities, stakeholders will help to improve service quality and to gain suitable competitive strategies.

Practical implications

Service quality is a key driver for universities’ sustainable competitive advantage; therefore, dimensions of service quality should be included within universities plan, strategies and daily activities.

Social implications

Considering service quality in higher education improves countries’ economic development, quality of life and well-being. All corporate social responsibility pillars (social, economic, environmental responsibilities and national and international regulation and norms) should be adapted and adopted within services quality systems and programs.

Originality/value

Most of previous studies were carried out to test the students’ perception while this research is dedicated to explore graduates’ perception regarding service quality offered by the MEU.

Details

Quality Assurance in Education, vol. 27 no. 3
Type: Research Article
ISSN: 0968-4883

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Article
Publication date: 4 February 2025

Rasmi Meqbel, Aladdin Dwekat, Mohammad A.A. Zaid, Mohammad Alta’any and Asia Mohammad Abukhaled

This study aims to examine the impact of Audit Committee (AC) characteristics on carbon disclosures and performance among companies listed in the STOXX Europe 600 index.

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Abstract

Purpose

This study aims to examine the impact of Audit Committee (AC) characteristics on carbon disclosures and performance among companies listed in the STOXX Europe 600 index.

Design/methodology/approach

The sample consists of companies listed in the STOXX Europe 600 index over a 11-year period (2012–2022). The study uses panel data regression methods and uses the two-step system generalized method of moments to control for endogeneity.

Findings

The results indicate that AC size, independence and financial expertise positively influence carbon disclosure, highlighting the significance of these characteristics in promoting transparency and accountability in reporting carbon emissions. Additionally, these attributes are significantly associated with improved carbon performance, suggesting their potential role in advancing environmental sustainability.

Practical implications

The study provides practical insights for policymakers and regulatory bodies aiming to enhance carbon-related practices through improved corporate governance (CG) structures. By emphasizing the importance of specific AC characteristics, the findings suggest pathways for enhancing the quality of carbon disclosures and performance.

Originality/value

Despite extensive attention on CG in promoting sustainability, the specific influence of AC characteristics on carbon disclosures and performance remains underexplored. This study addresses this significant literature gap and, to the best of the authors’ knowledge, is the first to link AC characteristics with both carbon disclosure and performance. It enriches the current body of knowledge in agency theory and provides critical insights for developing CG and regulatory policies that enhance the quality of carbon disclosures.

Details

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

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Article
Publication date: 7 February 2020

Mohammad Tazul Islam, Katsuhiko Kokubu and Kimitaka Nishitani

The purpose of this study is to test the legitimacy theory (LT) argument in the context of the banking industry of a developing country, taking Bangladesh as a case by…

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Abstract

Purpose

The purpose of this study is to test the legitimacy theory (LT) argument in the context of the banking industry of a developing country, taking Bangladesh as a case by interpreting the bank managers’ perceptions in legitimizing corporate social (CS) reporting.

Design/methodology/approach

This study uses the Dhaka Stock Exchange (DSE) listed banks data during a 10-year period (2004–2013) and uses Islam and Kokubu (2018) CS reporting index. The LT variables are tested by using multiple regression method. A mixed-method of research with “triangulation design” has been used in this study for a comprehensive understanding of LT variables. In addition, a total number of 28 interviews (ranges from Corporate Social Responsibility Operational Manager to Managing Director/Chief Executive Officer) from 24 listed banks have been conducted to interpret bank managers’ legitimate perception in CS reporting.

Findings

This study supports the applicability of the broader thrust of LT for the banking industry of the developing economies in three ways. First, for companies with lower “proximity to end-users” by density in population disclose more social information than the companies with higher ones to gain/regain/maintain market legitimacy. Second, newer banks with less scope to reach proximity to end-users disclose more social information to fill proximity to tertiary clients’ gap to meet community expectation. Third, companies disclose more social information in their annual reports to legitimize corporate actions in response to the CS reporting initiatives taken by the stakeholders, particularly regulators.

Research limitations/implications

The main implication of this study is that it extends the applicability of the LT for the developing country, in general, and for the banking industry, in particular.

Originality/value

The study enriches the existing LT literature of the developing economies’ banking industry by providing empirical evidence from the banking system in Bangladesh.

Details

Social Responsibility Journal, vol. 17 no. 2
Type: Research Article
ISSN: 1747-1117

Keywords

Available. Open Access. Open Access
Article
Publication date: 15 July 2021

Giuseppe Nicolò, Giovanni Zampone, Giuseppe Sannino and Serena De Iorio

Recent regulatory changes in Europe have promoted non-financial reporting practices (e.g., Directive, 2014/95/EU) and gender diversity in decision-making positions. Special…

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Abstract

Purpose

Recent regulatory changes in Europe have promoted non-financial reporting practices (e.g., Directive, 2014/95/EU) and gender diversity in decision-making positions. Special attention is devoted to promoting the gender balance on corporate boards as a key mechanism to enhance corporate governance effectiveness and better address multiple stakeholders' needs. With this in mind, this study intends to examine the impact of boardroom gender diversity on Environmental Social Governance (ESG) disclosure practices in the European listed firms' context.

Design/methodology/approach

The study applies different panel data models on an extended sample of 1,392 firms from 21 European Union (EU) countries for six years (2014–2019).

Findings

Findings allow to spotlight the positive role exerted by the presence of women directors on the boards in enhancing ESG disclosure, both at the overall and specific (individual ESG scores) level.

Research limitations/implications

Policymakers and regulators might consider the study's evidence as a stimulus to continue in promoting strategic actions and reforms that foster gender equality and balance in corporate decision-making positions.

Practical implications

Creating a heterogeneous and diversified board of directors may support implementing a “sustainable corporate governance” recently claimed by the EC.

Originality/value

The study contributes to the literature by disentangling the links between gender diversity and ESG disclosure over a period that covers a long season of European regulations and measures that affected both non-financial reporting practices and the board of directors' composition. Accordingly, it can contribute to enhancing the practical and theoretical understanding of the pivotal role that gender diversity may exert in strengthening corporate governance and, in turn, corporate transparency and accountability behaviours about non-financial issues.

Details

Journal of Applied Accounting Research, vol. 23 no. 1
Type: Research Article
ISSN: 0967-5426

Keywords

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