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This paper examines the causal relationship between stock market performance and foreign exchange market in Egypt over the period 2009–2016. The study period is divided into two sub-periods: pre- and post-January 25th Egyptian revolution (ER). The reason is to examine how this revolution affects the causal relationship between the two markets' performance.

In this study, the daily basis data are used to enable good and effective observation changes in the foreign exchange rate and stock market performance over time. Stock market indexes and stock market capitalization are used as proxies for stock market performance. Further, the Egyptian pound to US$ exchange rate is used as a measure for foreign exchange market performance. The study analysis is done in stages. The first is to check the variables' stationarity for the pre- and post-revaluation. The second is to examine the cointegration among the variables. The third is to run vector autoregression (VAR) estimates, after which VAR Granger causality tests are employed.

The results show that the data are not stationary at their levels but stationary in their first difference level while there is no cointegration in the long-run among the variables in both sub-periods. Further, findings indicate that, in the pre-January 25th revolution period, there is a significant causal relationship between the foreign exchange market and stock market indexes and a significant causal relationship between market capitalization (CAP) and exchange rate at the 1% level. However, in the post-January 25th revolution period, the study does not find a significant causal relationship between foreign exchange market and stock market indexes and capitalization.

As this study focuses on the causal relationship between foreign exchange and stock markets before and after the 25th January Revolution, other macroeconomic variables such as consumer price index, interest rate and GDP were excluded for the comparison purposes with other studies. Further research is suggested to include them in the analysis to find out its effect on the performance of stock market and foreign exchange market.

The existence of long-run bidirectional causality means that portfolio managers and hedgers may have improved their understanding regarding the dynamic relationship between foreign exchange market and stock market performance as this may help them to plan and implement suitable hedging strategies to guard against currency risk in future crises or events. Investors, fund and portfolio managers and policymakers should give much attention to these event-specific interactions when they make capital budgeting decisions and implement regulation policies. Furthermore, our results may allow portfolio managers, investors and policymakers to assess the importance of informational efficiency for both markets.

This paper is an original contribution to the literature that concerns the causal relationship between stock market and foreign exchange market in the period of political instability and social unrest such as the January 25th Revolution in one of the emerging markets, namely Egypt.

The purpose of this paper is to identify the dimensions of e-retailing ethics from the consumers’ perspective and to develop a reliable and valid measurement instrument.

The paper is based on a quantitative survey conducted among Egyptian consumers aged 18 and above. These were measured on a five-point Likert scale. The reliability and validity of this six-factor scale are verified using empirical data collected randomly from Egyptians’ online consumers. Structure equation modelling used to test the suggested model.

The results showed that buyer perceptions about seller ethics (BPSE) is a second order construct composed of six factors (e.g. privacy, security, reliability, non-deception, service recover, and shared value). The results also showed that the BPSE has strong predictive capability in relation to online customer satisfaction and repurchase intention.

This project is one of the first empirical studies that develop a reliable and valid measurement instrument of BPSE. The findings provide several important theoretical and practical implications for online retailing and academic researchers as well as making a significant contribution to the body of knowledge in the online retailing context.

The purpose of this paper is to investigate the exchange rate exposure of UK non‐financial companies from January 1981 to December 2001.

The study employs different exchange rate measures and adopts an equally weighted exchange rate. The analyses are conducted at the firm level. All analyses are conducted by regressing the firm's exchange rate exposure coefficients on its size, foreign activity variables and financial hedging proxies over the whole sample period.

The findings show that a higher percentage of UK non‐financial companies are exposed to exchange rate changes than those reported in previous studies. Generally, the results provide a stronger support for the suggested equally weighted rate as an economic variable, which affects firms’ stock returns. The results also show a high proportion of positive exposure coefficients among firms with significant exchange rate exposure, indicating a higher proportion of firms benefiting from an appreciation of the pound. Finally, the results also indicate evidence that firms’ foreign operations and hedging variables affect their sensitivity to exchange rate exposure.

This study provides important implications for public policymakers who wish to understand links between policies that affect exchange rates and relative wealth effects.

The empirical results of this study should help investors to examine how common stock returns react to exchange rate fluctuations when making financial decisions, and prove useful for financial managers when measuring exposure to foreign exchange rate changes.

The purpose of this paper is to examine the effect of firm size and foreign operations on the exchange rate exposure of UK non‐financial companies from January 1981 to December 2001.

The impact of the unexpected changes in exchange rates on firms’ stock returns is examined. In addition, the movements in bilateral, equally weighted (EQW) and trade‐weighted and exchange rate indices are considered. The sample is classified according to firm size and the extent of firms’ foreign operations. In addition, structural changes on the relationship between exchange rate changes and individual firms’ stock returns are examined over three sub‐periods: before joining the exchange rate mechanism (pre‐ERM), during joining the ERM (in‐ERM), and after departure from the ERM (post‐ERM).

The findings indicate that a higher percentage of UK firms are exposed to contemporaneous exchange rate changes than those reported in previous studies. UK firms’ stock returns are more affected by changes in the EQW, and US$ European currency unit exchange rate, and respond less significantly to the basket of 20 countries’ currencies relative to the UK pound exchange rate. It is found that exchange rate exposure has a more significant impact on stock returns of the large firms compared with the small and medium‐sized companies. The evidence is consistent across all specifications using different exchange rate. The results provide evidence that the proportion of significant foreign exchange rate exposure is higher for firms which generate a higher percentage of revenues from abroad. The sensitivities of firms’ stock returns to exchange rate fluctuations are most evident in the pre‐ERM and post‐ERM periods.

This study provides important implications for public policymakers, financial managers and investors on how common stock returns of various sectors react to exchange rate fluctuations.

The empirical evidence supports the view that UK firms’ stock returns are affected by foreign exchange rate exposure.

The purpose of this paper is to prepare amphiphilic block copolymers polyethylene adipate-block-polyethylene glycol (PEA-b-PEG)s and study their performance as plasticizers in rotogravure ink formulations.

Series of amphiphilic block copolymers (PEA-b-PEG1), (PEA-b-PEG2), (PEA-b-PEG3), (PEA-b-PEG4) and (PEA-b-PEG5) were prepared by the reaction of adipic acid, ethylene glycol and polyethylene glycol of different molecular weights (300, 1,000, 2,000, 10,000 and 20,000 g/mol), respectively. Full characterization of the prepared copolymers was achieved using Fourier Transfer Infrared Spectroscopy (FTIR), 1H NMR, thermal gravimetric analysis (TGA) and differential scanning calorimetry (DSC). The performance of the prepared copolymers as plasticizers for neat nitrocellulose resin were studied in different formulations, namely, R1, R2, R3, R4 and R5 containing copolymers (PEA-b-PEG1), (PEA-b-PEG2), (PEA-b-PEG3), (PEA-b-PEG4) and (PEA-b-PEG5), respectively. In addition to formula R0 that contains acetyl tributyl citrate (ATBC) as a commercial plasticizer. The mechanical properties, thermal analysis (DSC, TGA) and optical properties of the prepared formulations films were investigated. Theses amphiphilic block copolymers were then applied as plasticizers in different rotogravure ink formulations (F1, F2, F3, F4 and F5) and compared with commercial rotogravure ink formula (F0). The color measurements and optical properties of all formulations were achieved.

It was found that the performance of the prepared copolymers as plasticizers in different formulations based on nitro cellulose resin gives better gloss, adhesion for R1 compared with the other samples and color strength for F1 compared with F0. Finally, all the samples gave excellent plasticizing effect.

The authors believe that type of these materials open the way for a new class of plasticizers that upon application or even degradation gives small ecofriendly molecules (adipic acid and or ethylene glycol moieties) taking into consideration the simplicity of the rout of the synthesis process.

The prepared ecofriendly (PEA-b-PEG)s could be successfully used as plasticizers instead of commercial plasticizer ATBC.

The research provides that the prepared (PEA-b-PEG)s with different molecular weights can act as plasticizers in rotogravure ink formulations, and their performance was acceptable and available.

This study seeks to examine the key factors that affect the timeliness of corporate internet reporting (CIR) by the Egyptian listed corporations on the Cairo and Alexandria Stock Exchange.

The authors use firm characteristics and corporate governance variables to investigate the influence on the timeliness of CIR. They also develop a disclosure index to measure the timeliness of CIR for the listed Egyptian corporations.

The primary analysis finds a significant relationship between the timeliness of CIR and firm size, type of industry, liquidity, ownership structure, board composition and board size. The results indicate that firms typically in the service sector, that are large and have a high rate of liquidity, a high proportion of independent directors, a large number of board directors and a high free float disclose more timely information on their web sites. Furthermore, a significant association between the entire independent variables and some items of timeliness of CIR is found.

This study is one of the first empirical studies to investigate the relationship between the corporate governance and the timeliness of CIR in an emerging market.

This study seeks to provide valuable new insight into the timeliness of corporate internet reporting (TCIR) by a sample of Irish‐listed companies.

The authors apply an updated version of Abdelsalam et al. TCIR index to assess the timeliness of corporate internet reporting. The index encompasses 13 criteria that are used to measure the TCIR for a sample of Irish‐listed companies. In addition, the authors assess the timeliness of posting companies' annual and interim reports to their web sites. Furthermore, the study examines the influence of board independence and ownership structure on the TCIR behaviour. Board composition is measured by the percentage of independent directors, chairman's dual role and average tenure of directors. Ownership structure is represented by managerial ownership and blockholder ownership.

It is found that Irish‐listed companies, on average, satisfy only 46 per cent of the timeliness criteria assessed by the timeliness index. After controlling for size, audit fees and firm performance, evidence that TCIR is positively associated with board of director's independence and chief executive officer (CEO) ownership is provided. Furthermore, it is found that large companies are faster in posting their annual reports to their web sites. The findings suggest that board composition and ownership structure influence a firm's TCIR behaviour, presumably in response to the information asymmetry between management and investors and the resulting agency costs.

The findings highlight the need for improvement in TCIR by Irish‐listed companies in many areas, especially in regard to the regular updates of information provided on their web sites.

This study represents one of the first comprehensive examinations of the important dimension of the TCIR in Irish‐listed companies.

The purpose of this study is to examine dividend policies in an emerging capital market, in a country undergoing a transitional period.

Using pooled cross‐sectional observations from the top 50 listed Egyptian firms between 2003 and 2005, this study examines the effect of board of directors' composition and ownership structure on dividend policies in Egypt.

It is found that there is a significant positive association between institutional ownership and firm performance, and both dividend decision and payout ratio. The results confirm that firms with a higher return on equity and a higher institutional ownership distribute higher levels of dividend. No significant association was found between board composition and dividend decisions or ratios.

This study provides additional evidence of the applicability of the signalling model in the emerging market of Egypt. It was found that despite the high institutional ownership and the closely held nature of the firms, which imply lower agency costs, the payment of higher dividend was considered necessary to attract capital during this transitional period.

Managerial finance (MF) started publication in 1975 and celebrated its 45th anniversary in 2019. The purpose of this study is to provide a bibliometric analysis of MF between 1996 and 2019.

This study uses the Scopus database to analyze the most frequent authors in MF along with their affiliated institutions and countries. It also identifies the most often cited MF articles. This study uses bibliometric indicators to analyze productivity and stature of MF. It also uses such tools as bibliographic coupling, keyword analysis and coauthorship analysis to analyze MF. Further, the study provides a temporal analysis of MF publishing across different ownership periods.

MF publishes between 60 and 70 articles each year and its number of citations steadily grows. Although contributors to the journal come from around the globe, they most often are affiliated with the United States, the United Kingdom and Greece. Temporal analysis of journal's themes reveals that it has expanded its scope from accounting research to a much wider array of finance topics. Bibliographic coupling network analysis shows that major themes published in MF involve stock markets, corporate governance, banking, financial decision-making and initial public offerings.

Due to the unavailability of bibliometric data, the analysis excludes an analysis of MF between 1975 and 1995.

This study provides the first overview of the MF's publication and citation trends as well as its thematic structure. It also suggests future directions that the journal might take.

This study seeks to investigate the sensitivity of stock returns at the industry level to market, exchange rate and interest rate shocks in the four major European economies: France, Germany, Italy, and the UK.

The paper utilises the methodology of Campbell and Mei (1993) to decompose systematic risks into components attributable to news about future dividends (cash flows), real interest rates and excess returns.

In addition to significant market risk, the paper finds significant levels of exposure to exchange rate risk in industries in all four markets. Significant levels of interest rate risk are only identified in Germany and France. All three sources of risk contain significant information about future cash flows and excess returns.

Future research could investigate the extent of exposure in other markets, or investigate whether the findings change at the firm level. Additionally it could be investigated whether recent asset pricing work such as Campbell and Vuolteenaho (2004) can be utilised to investigate this research problem.

The paper identifies which industry portfolios have significant exposures and decomposes these risks. This information is relevant for investors and portfolio managers, as well as financial management within the firm.

The paper utilises an alternative econometric methodology to investigate the extent of exposure to exchange rate and interest risks in industrial portfolios in four European markets.