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Article
Publication date: 10 June 2019

Ahmed Aboud and Ahmed Diab

This study aims to examine the combined impact of environmental, social and governance (ESG) ratings on the market and financial performance of Egyptian companies during…

Abstract

Purpose

This study aims to examine the combined impact of environmental, social and governance (ESG) ratings on the market and financial performance of Egyptian companies during the period from 2007 to 2016 and, thereby, determines the influence of the recent political revolutions –that broke out in the MENA region in early 2011 – on the association between ESG practices and corporate performance.

Design/methodology/approach

The present work uses data from the S&P/EGX ESG index, which is the first of its kind in the MENA region. The ESG index is designed to increase the profile of companies listed on the Egyptian Exchange and is expected to boost the level and quality of ESG practices in the Egyptian context. The sample includes the 100 most active Egyptian companies in the Egyptian Stock Exchange as measured by the EGX 100 index in the financial year that ended in 2016. The sample begins in 2007, concurrent with the start of the ESG index, and ends in 2016. The period from 2007 to 2010 represents the pre-revolution period, and the period from 2012 to 2016 is the post-revolution period.

Findings

Firms with high ESG ratings are found to enjoy a better financial and market performance. The authors found some evidence that the influence of ESG ratings on financial performance is more obvious after the revolutions than before the revolutions.

Practical implications

This study provides insights regarding the impact of political events on the market in the Middle East region. Despite its increasing economic and political importance, this region still suffers from inadequate attention in the literature. The present work investigates the variances that evolved out of the events that started in early 2011 and the implications of these events on the market. The results of this study have implications for regulators and investors in the Egyptian stock market. The authors believe that the relatively new S&P/EGX ESG index provides a way to enhance ESG ratings in Egypt.

Social implications

The results of the present study provide insights for policymakers regarding the usefulness of the sustainability indices.

Originality/value

The present results contribute to the growing literature on the economic consequences of ESG ratings, especially in relation to a context characterized by intense political/revolutionary changes. In particular, this study contributes to the few works that have addressed the economic implications of ESG ratings in emerging markets.

Details

Sustainability Accounting, Management and Policy Journal, vol. 10 no. 3
Type: Research Article
ISSN: 2040-8021

Keywords

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Article
Publication date: 5 November 2018

Ahmed Aboud and Ahmed Diab

The purpose of this paper is to examine the impact of environmental, social, and governance (ESG) practices disclosure and firm value in the Egyptian context. This is done…

Abstract

Purpose

The purpose of this paper is to examine the impact of environmental, social, and governance (ESG) practices disclosure and firm value in the Egyptian context. This is done through investigating the influence of being listed and ranked in the Egyptian Corporate Responsibility Index on firm value during the period starting from 2007 to 2016.

Design/methodology/approach

Using univariate and multivariate analyses, the findings support the economic benefits of ESG disclosures.

Findings

The authors find that firms listed in the ESG index have higher firm value, and that there is a positive association between firms’ higher rankings in the index and firm value, as measured by Tobin’s q.

Research limitations/implications

The findings provide feedback to regulators and standard-setters in the developing countries, and more specifically the Egyptian regulators, on the benefits associated with the introduction of the sustainability index (Standard & Poor’s (S&P)/EGX ESG index). This, in turn, clarifies how the government’s efforts to promote ESG provide benefits to publicly traded firms.

Practical implications

By linking ESG to firm value, the ESG index will enable investors to take a leading role in inducing firms to enhance transparency and disclosure, and hence, improving their reporting standards. This, in turn, will ultimately result in improving sustainability and governance practices in Egypt.

Social implications

The reported positive market reactions to social and governance practices disclosures can motivate firms to improve their social and governance performance.

Originality/value

The study contributes to the literature by addressing the combined economic effects of social and governance disclosures on firm value, and by investigating the economic effects of such disclosures on firm value in an emerging market.

Details

Journal of Accounting in Emerging Economies, vol. 8 no. 4
Type: Research Article
ISSN: 2042-1168

Keywords

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Article
Publication date: 4 November 2020

Ahmed Aboud and Barry Robinson

This paper aims to explore the effectiveness of fraud prevention and detection techniques, including data analytics, machine learning and data mining, and to understand…

Abstract

Purpose

This paper aims to explore the effectiveness of fraud prevention and detection techniques, including data analytics, machine learning and data mining, and to understand how widespread the use of data analytics is across different sectors and to identify and understand the potential barriers to implementing these techniques to detect and prevent fraud.

Design/methodology/approach

A survey was administered to 73 Irish businesses to determine to what extent traditional approach, data mining or text mining are being used to prevent or detect fraudulent financial reporting, and to determine the perception level of their effectiveness.

Findings

The study suggests that whilst data analytics is widely used by businesses in Ireland there is an under-utilisation of data analytics as an effective tool in the fight against fraud. The study suggests there are barriers that may be preventing companies from implementing advanced data analytics to detect financial statement fraud and identifies how those barriers may be overcome.

Originality/value

In contrast to the majority of literature on big data analytics and auditing, which lacks empirical insight into the diffusion, effectiveness and obstacles of data analytics, this explanatory study contributes by providing useful insights from the field on big data analytics. While the extant auditing literature generally addresses the avenues of big data utilisation in auditing domain, our study explores particularly the use big data analytics as a fraud prevention and detection techniques.

Details

Accounting Research Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1030-9616

Keywords

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Article
Publication date: 18 October 2019

Jie Zhang and Ahmed Aboud

The purpose of this paper is to examine the determinants of the EVA performance evaluation model for the Chinese banking industry. The authors investigate the impact of…

Abstract

Purpose

The purpose of this paper is to examine the determinants of the EVA performance evaluation model for the Chinese banking industry. The authors investigate the impact of six bank-specific factors and corporate governance factors on financial performance.

Design/methodology/approach

The authors use the ordinary least square regression to examine the determinants of the EVA performance evaluation model for the Chinese banking industry. The findings are generally robust to alternative proxies of performance.

Findings

The empirical results indicate that credit risk, operational efficiency and the degree of innovation are positively related to banks’ EVA while capital management has a negative impact on it. In addition, although board size and independent directors are not related to the bank’s EVA, from the perspective of the traditional performance evaluation indicators, executive compensation has a positive impact on the bank’s profitability.

Research limitations/implications

This paper has some limitations. First, due to the large number of adjustments to accounting items are required in the application of EVA when evaluating business performance, some items of the EVA model in this paper have been simplified, which may cause the bank’s EVA value to deviate slightly from the actual situation. Moreover, the sample includes only listed banks, so our results cannot generalize to non-listed banks, such as some small- and medium-sized commercial banks.

Originality/value

This paper contributes to the limited body of literature concerning the use and the determinants of EVA in emerging markets. The authors construct an EVA model which is suitable for China’s banks and reports comprehensive evidence on the drivers of EVA as a measurement tool.

Details

Asian Review of Accounting, vol. 27 no. 4
Type: Research Article
ISSN: 1321-7348

Keywords

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Article
Publication date: 28 March 2019

Ahmed Diab and Ahmed Aboud

This study explores the relationship between institutional logics and workers’ agency in business organisations. The purpose of this paper is to explain management control…

Abstract

Purpose

This study explores the relationship between institutional logics and workers’ agency in business organisations. The purpose of this paper is to explain management control in a complex setting of workers’ resistance and institutional multiplicity and complexity. Exploring the inherent political volatility at the macro level, the work also investigates the political aspects of economic organisations and the intermediary role of individuals who deal with these institutions.

Design/methodology/approach

Theoretically, the study triangulates institutional logics and labour process theories, linking higher-order institutions with mundane labour practices observed in the case study. Methodologically, the study adopts a post-positivistic case study approach. Empirical data were solicited in a village community, where sugar beet farming and processing constitutes the main economic activity underlying its livelihood. Data were collected through a triangulation of interviews, documents and observations.

Findings

The study concludes that, especially in LDCs agro-manufacturing settings, economic and societal institutions play a central role in the mobilisation of labour resistance. Control can be effectively practiced, and be resisted, through such economic and social systems. This study affirms the influence of institutional logics on individuals’ agency and subjectivity.

Originality/value

The study contributes to literature by investigating the relationship between subalterns’ agency and institutional logics in a traditional political and communal context, in contrast to the highly investigated western contexts; and providing a definition of management control based on the prevalent institutional logics in the field.

Details

Journal of Accounting in Emerging Economies, vol. 9 no. 2
Type: Research Article
ISSN: 2042-1168

Keywords

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Article
Publication date: 2 September 2019

Ahmed A. Diab, Ahmed Aboud and Arafat Hamdy

The purpose of this study is to address the impact of the related party transactions (RPTs) on firm value. The authors bring evidence from a usually ignored empirical…

Abstract

Purpose

The purpose of this study is to address the impact of the related party transactions (RPTs) on firm value. The authors bring evidence from a usually ignored empirical setting: an African emerging market.

Design/methodology/approach

In particular, the authors focus on companies listed on the Egyptian stock market using a sample of EGX 30 from 2012 to 2017.

Findings

Unlike the literature, the authors find no significant relationship between RPTs and market value.

Practical implications

This research provides insights for policymakers and other interested parties concerning the perception of RPTs in Egypt.

Originality/value

The reported different findings of this study assure the intermediary role of the context and the local culture in the relationship between RPTs and firm value, in contrast to the negative view that is mostly reported in the literature.

Details

Journal of Financial Reporting and Accounting, vol. 17 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

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Article
Publication date: 26 August 2021

Aliaa AlSadaty

This paper focuses on the morphological transformations of Cairo's historic cemeteries that currently form a significant part of historic Cairo designated by the UNESCO as…

Abstract

Purpose

This paper focuses on the morphological transformations of Cairo's historic cemeteries that currently form a significant part of historic Cairo designated by the UNESCO as a world heritage site. Cairo's historic cemetery continues to be a main burial ground for the city reflecting layers of funeral epochs. Besides offering burial grounds, Cairo's city of the dead had always hosted living functions including residential and crafts among other activities.

Design/methodology/approach

Adopting a historico-geographical approach, this study traces morphological transformations of the eastern necropolis of Cairo. Using analysis of archival documents, cartographic and photographic analysis of the eastern necropolis, the study detects changes on three major aspects: (1) impacts of the ever-growing urban city core; (2) transformation of the cemetery's internal urban fabric and (3) change of the size of the residential urban block inside the cemetery.

Findings

Findings highlight alarming transformations on the said aspects, threatening the historic value and the urban integrity of Cairo's eastern necropolis. This calls for rising necessities of documentation projects for Cairo's necropolis, as well as urgent necessity of strict applications of local laws of urban conservation.

Originality/value

Despite their rich urban variety, cemeteries have been rarely investigated within the scope of urban morphology. This paper is among the few works that investigate cemeteries using tools and approaches of urban morphology. It also calls for further applications of morphological investigations and wider adoption of morphological approaches for the study of historic cemeteries in order to support their preservation.

Details

Open House International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0168-2601

Keywords

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Article
Publication date: 16 November 2020

Tawida Elgattani and Khaled Hussainey

This study aims to investigate the impact of the accounting and auditing organisation for Islamic financial institution (AAOIFI) governance disclosure on the performance…

Abstract

Purpose

This study aims to investigate the impact of the accounting and auditing organisation for Islamic financial institution (AAOIFI) governance disclosure on the performance of Islamic banks (IBs).

Design/methodology/approach

The ordinary least squares regression model was used to test the impact of AAOIFI governance disclosure on the performance of 126 IBs from 8 countries that mandatorily adopt the AAOIFI standards for three years (2013–2015). In this regression model, return on asset (ROA) and return on equity (ROE) are the dependent variables, while AAOIFI governance disclosure is the independent variable. Corporate governance mechanisms, firm characteristics, year dummy and country dummy are used as control variables.

Findings

This paper found an insignificant relationship between AAOIFI governance disclosure and IBs performance.

Research limitations/implications

This study highlighted the implication that the current research may help IBs and encourage them to disclose more information in annual reports, especially those related to AAOIFI governance standards because following good corporate governance leads to good financial performance. The major limitation of the paper is that it is only focussed on two measurements of bank performance – ROA and ROE; it would be good to use other firm performance measures, such as profit margin.

Originality/value

This study provides new empirical evidence on the impact of AAOIFI governance disclosure on IBs performance.

Details

Journal of Financial Reporting and Accounting, vol. 19 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

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Article
Publication date: 23 September 2020

Ahmed Abdelnaby Ahmed Diab

The purpose of this study is to provide a political explanation of management, accounting and control (MAC) practices in a traditional and unstable African setting. This…

Abstract

Purpose

The purpose of this study is to provide a political explanation of management, accounting and control (MAC) practices in a traditional and unstable African setting. This was done by exploring the influence of latest revolutionary politics in Egypt along with labour dynamics in the context.

Design/methodology/approach

Theoretically, the study uses the institutional logics perspective to understand the effects of higher order institutions on corporate management and workers at the micro level. Methodologically, the study adopts an interpretative case study approach. Data were collected using a triangulation of interviews, documents and observations.

Findings

The study finds that volatile political settings can have different contradictory implications for MAC practices. It also concludes that revolutionary events play a central role not only in the configuration of MAC practices but also in the mobilisation of labour resistance to these practices.

Originality/value

The study contributes to the literature by investigating the different appearances of MAC practices in a volatile, political or revolutionary context, in contrast to highly investigated stabilised Western contexts. This broadens the definition of the social in the area of accounting and control.

Details

Qualitative Research in Accounting & Management, vol. 17 no. 4
Type: Research Article
ISSN: 1176-6093

Keywords

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Article
Publication date: 17 September 2020

Ahmed Diab and Abdelmoneim Bahyeldin Mohamed Metwally

The study aims to investigate the appearance of corporate social and environmental responsibility (CSER) practices in a context where economic, communal and political…

Abstract

Purpose

The study aims to investigate the appearance of corporate social and environmental responsibility (CSER) practices in a context where economic, communal and political institutions are highly central and competing with each other.

Design/methodology/approach

Theoretically, the study draws upon the institutional logics perspective and the theoretical concepts of logics centrality and compatibility to understand how higher-order institutions interact with mundane CSER practices observed at the case company's micro level. Empirical data were solicited in an Egyptian village community, where fishing, agriculture and especially salt production constitute the main economic activities underlying its livelihood. A combination of interviews, informal conversations, observations and documents solicits the required data.

Findings

Thereby, this study presents an inclusive view of CSER as practiced in developing countries, which is based not only on rational economic perspectives – as is the case in developed and stabilised contexts – but also on social, familial and political aspects that are central to the present complex institutional environment.

Originality/value

The reported findings in this study highlight the role of non-economic (societal) logics in understating CSER in African developing nations.

Details

Journal of Accounting in Emerging Economies, vol. 10 no. 4
Type: Research Article
ISSN: 2042-1168

Keywords

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