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In recent years, Mediterranean Partner countries (MPCs) have been ambitious about reforming their banking and financial systems. Former state‐owned banks have been privatised, and restrictions for international capital flows have been lowered to accelerate investment activities and spur regional economic growth. The purpose of this paper is to evaluate these latest developments against the backdrop of the state‐of‐the‐art literature and derive implications for a reformed institutional setting for sound financial market governance in the Mediterranean region.

Building on recent empirical literature on the relationship between financial development, financial governance, and economic growth, this paper empirically assesses the validity of the so‐called finance‐growth nexus for Mediterranean Partner countries.

The findings indicate that the current institutional set‐up renders an efficient allocation of savings impossible, and thus represents a strong binding constraint on economic growth. In this regard, it is found that adverse financial governance practices have substantially contributed to this outcome.

This paper argues for upgrading domestic regulatory frameworks before continuing a sequential integration and liberalisation process.

It is thought that this attempt is unique in explicitly formulating a comprehensive role for the Euro‐Mediterranean Partnership (EMP) in assisting MPCs on financial governance issues. In this respect, it identifies prevailing incentive schemes for regional actors and opportunities for the EU to actively support the implementation of a reform agenda for financial institutions in the EMP framework.

This paper sheds light on one of the educational projects that was launched by Ministry of Education (MOE) in Oman in the academic year 2007–2008. The project, which is called the “Cognitive Development Program for Students in Science, Mathematics, and Concepts of Environmental Geography”, was introduced in 741 government schools in response to the low national score in Trends in International Mathematics and Science Study (TIMSS) 2007. Hence, the main aim of the program is to develop the students’ science and mathematics capabilities in order to improve their levels in mathematics and science and to give further emphasis to these skills that form the basis of the rapidly changing world. This paper endeavors to acquaint the Gulf Cooperation Council countries with the nature of this program. It also focuses on the impact this program has on mathematics and science teachers’ and on students’ achievements in mathematics, science, and concepts of environmental geography. To achieve this goal, two questionnaires – one for teachers and the other for students – are conducted to measure the effectiveness of the Cognitive Development Program from teachers’ and students’ perspectives. The results of the questionnaires showed that the program has remarkably affected both teachers and students. One of the positive effects of this program was that it has encouraged the teachers to be always updated about what is new in these subject areas and the students are exposed to questions that test their synthesis. However, there are a number of drawbacks to this program from teachers’ and students’ perspectives. Constructive feedback for the program developers and supervisors in the MOE to base improvement is provided.

The purpose of this paper is to study the impact of some corporate governance mechanisms on the market risk (stock price return and volatility, exchange rate) and on the exchange rate and Treasury Bill during the financial crisis. In order to better clarify the firms’ resistance to financial crises, the effect of exchange rate, Treasury Bill and the market risk are also considered.

The study uses a sample data of the SBF 120 on a panel of 99 French firms over the period between 2006 and 2015 divided into three sub-periods: the first sub-period, which covers the period between December 31, 2006 and December 31, 2009, was characterized by the outbreak of the subprime crisis. The second sub-period considers the sovereign debt crisis in Europe between December 31, 2010 and December 31, 2012. The last sub-period includes the post-crisis period (December 31, 2013 to December 31, 2015). The GARCH and BEKK models are used to capture the effect of volatility and conditional heteroskedasticity of both corporate governance and market risk.

The paper found that during the financial crisis (first sub-period, the sovereign crisis period), the high shareholders’ protection had a positive and significant impact on the stock market returns. Furthermore, the shareholders’ protection, the Treasury Bill, the institutional investors, the board’s size, had a negative and significant effect on the stock returns volatility. During the post-crisis period, the high protection and the board’s size had a negative and significant effect on the volatility of the stock returns.

This result implies that during the financial crisis, the high shareholders’ protection played a role in increases the stock market return and minimized the stock return volatility.

This study helps in improving the legal protection of investors and helps managers, shareholders and investors to evaluate their investments. This study also provides implications for policymakers and legal environment in order to evaluate the importance of the current corporate governance frameworks in place.

This result implies that the institutional investors, as the results suggest, should follow the shareholders’ protection in all the countries to make decisions about their investments since the high shareholders’ protection increases the firm’s stock returns and decreases the stock return volatility.

This study aims to reduce carbon emissions and costs in an automobile production plant by improving the operational management efficiency of a serial assembly line assisted by a feeding electric tow vehicle (ETV).

A multi-objective function is formulated to minimize the energy consumption of the ETV from which emissions and costs are measured. First, a mixed-integer linear programming model is used to solve the feeding problem for different sizes of the assembly line. Second, a bi-objective optimization (HBOO) model is used to simultaneously minimize the most eco-efficient objectives: the number of completed runs (tours) by the ETV along the assembly line, and the number of visits (stops) made by the ETV to deliver kits of components to workstations.

The most eco-efficient strategy is always the bi-objective optimal solution regardless of the size of the assembly line, whereas, for single objectives, the optimization strategy differs depending on the size of the assembly line.

Instances of the problem are randomly generated to reproduce real conditions of a particular automotive factory according to a previous case study. The optimization procedure allows managers to assess real scenarios improving the assembly line eco-efficiency. These results promote the implementation of automated control of feeding processes in green manufacturing.

The HBOO-model assesses the assembly line performance with a view to reducing the environmental impact effectively and contributes to reducing the existent gap in the literature. The optimization results define key strategies for manufacturing industries eager to integrate battery-operated motors or to address inefficient traffic of automated transport to curb the carbon footprint.

The purpose of this study is to examine the associations between board size, board independence and triple bottom line (TBL) reporting. The TBL report consists of three components, namely, environmental, social and economic indices.

This study’s sample consists of top 50 listed companies from the year 2017 to 2019 on Tadawul Stock Exchange. Ordinary least squares, quantile least squares and robust least squares are used to investigate the associations between board characteristics and TBL reporting, including its separate components.

The authors find a significant negative association between TBL reporting and board independence. Social bottom line is significantly and negatively related to board size and board independence. Results indicate that board independence negatively influences the TBL disclosure of companies. Therefore, companies are encouraged to embrace TBL reporting. This suggests that businesses should improve the quality of their reporting while ensuring that voluntary disclosures reflect an accurate and fair view in order to preserve a positive relationship with stakeholders.

The present study explains the evidence for the determinants of the TBL in Saudi Arabia.

Purpose of this paper are Real power loss reduction, voltage stability enhancement and minimization of Voltage deviation.

In HLG approach as per Henry gas law sum of gas dissolved in the liquid is directly proportional to the partial pressure on above the liquid. Gas dissolving in the liquid which based on Henry gas law is main concept to formulate the proposed algorithm. Populations are divided into groups and all the groups possess the similar Henry constant value. Exploration and exploitation has been balanced effectively. Ranking and position of the worst agents is done in order to avoid the local optima. Then in this work Mobula alfredi optimization (MAO) algorithm is projected to solve optimal reactive power problem. Foraging actions of Mobula alfredi has been imitated to design the algorithm. String foraging, twister foraging and backward roll foraging are mathematically formulated to solve the problem. In the entire exploration space the Mobula alfredi has been forced to discover new regions by assigning capricious position. Through this approach, exploration competence of the algorithm has been improved. In all iterations, the position of the Mobula alfredi has been updated and replaced with the most excellent solution found so far. Exploration and exploitation capabilities have been maintained sequentially. Then in this work balanced condition algorithm (BCA) is projected to solve optimal reactive power problem. Proposed BCA approach based on the conception in physics- on the subject of the mass; incoming, exit and producing in the control volume. Preliminary population has been created based on the dimensions and number of particles and it initialized capriciously in the exploration space with minimum and maximum concentration. Production control parameter and Production probability utilized to control the exploration and exploitation.

Proposed Henry's Law based -soluble gas optimization (HLG) algorithm, Mobula alfredi optimization (MAO) algorithm and BCA are evaluated in IEEE 30 bus system with L-index (Voltage stability) and also tested in standard IEEE 14, 30, 57, 118, 300 bus test systems without L- index. Real power loss minimization, voltage deviation minimization, and voltage stability index enhancement has been attained.

For the first time Henry's Law based -soluble gas optimization (HLG) algorithm, Mobula alfredi optimization (MAO) algorithm and BCA is projected to solve the power loss reduction problem.

Educational institutions are facing a growing number of challenges, which impair their ability to provide high quality and effective educational services. The involvement of pupils in co-creating learning experiences is a fundamental ingredient of the recipe for increased educational quality. Inter alia, the implementation of citizen science initiatives at schools allows pupils to be active co-producers of educational services. The purpose of this paper to shed light on the attributes of citizen science projects targeted at pupils (aged between six and ten) attending primary schools, in order to identify their potential implications in terms of educational services’ quality improvement.

Secondary data were collected from the Scistarter® web platform. Projects addressed to primary schools and provided with specific classroom materials were taken into consideration (n=65). A qualitative, comparative and bird’s eye analysis was performed: first, looking at the role and the tasks assigned to pupils, the projects were grouped in four categories; second, the potential implications of citizen science on educational services’ quality were investigated.

Citizen science at school paves the way for pupils’ empowerment and for their direct involvement in the co-production of educational services. Moreover, it enhances the relationship between teachers and pupils, engaging them in a co-creating partnership intended at addressing real scientific issues at school. However, citizen science is still poorly integrated into conventional educational curricula in primary schools.

From a management point of view, citizen science is thought to contribute to the improvement of educational services’ quality, stimulating pupils to partner with their peers and with teachers for the purpose of knowledge co-production; in addition, it allows for the enrichment of educational activities in primary schools. From a policy perspective, citizen science at school harmonizes with the democratization of scientific knowledge.

This is one of the first research papers to demonstrate the potential implications of citizen science on educational services’ quality and effectiveness in primary schools.

This study aims to examine the short- and long-lived effects of the International Financial Reporting Standards (IFRS) mandate on the quality of reporting information of initial public offering (IPO) firms in emerging market economies.

The study used several difference-in-differences models for a sample comprising 102 Saudi Arabian IPO firms for 2003–2017.

It found that mandating the application of the IFRS had a significant short-lived but no long-lived effect on IPO firms’ information asymmetry. When information asymmetry was high such as in the primary market, the IFRS succeeded in alleviating the underpricing of IPO firms. Conversely, in the secondary market, with negligible information asymmetry, the IFRS was not beneficial for the long-term performance of companies in the IPO market.

This study is the first of its kind in the emerging market context and has important implications for IPO investors and analysts, IFRS-IPO researchers and policymakers in emerging economies. The results empirically confirmed that the IFRS mandate had solely a short-lived effect and no long-lasting impact, on the problem of asymmetric information in the IPO market. The effectiveness of the IFRS in producing quality financial reporting is contingent upon large-scale information asymmetry and vanishes when investors and analysts have abundant information about listed firms, even for emerging economies such as Saudi Arabia.

The new audit regulation for disclosure of key audit matters (KAMs) in financial reporting has been introduced in both developed and developing countries. This study investigates the influence of three distinctive sets of variables, namely industry features, firm characteristics and auditor attributes, on the extent, pattern and level of disclosure of KAMs by companies listed in Bangladesh, an emerging economy.

The study uses qualitative and quantitative research approaches to investigate the pattern of disclosure of KAMs and their determinants. With a sample of 447 firm-year observations from companies listed on the Dhaka Stock Exchange over 2018–2020, the study reveals industry-level, firm-level and auditor-specific characteristics that affect KAMs' communication in the new audit reporting model.

The findings suggest that significant differences exist between firms in the number and types of KAMs reported and the extent of their disclosure. The study findings also observed variations both within and across different industry sectors. Highly regulated firms disclose a greater number of KAMs, while environmentally sensitive firms are found to provide a greater detail of the issues presented as KAMs. Further, both firm size and age positively impact the number of KAMs disclosed and the extent of the disclosure provided. Big-4-affiliated auditors do not issue a significantly higher number of KAMs but deliver extensive details to their KAMs description, compared to non-Big-4 auditors. In addition, while auditors, in general, tend to issue boilerplate KAMs, Big-4 associates are found to disclose more new KAMs. However, audit fees and auditor rotation do not influence KAMs disclosure.

This study is based on two years of publicly available data. However, future studies could consider in-depth interviews to explore the motivation behind KAMs' disclosure in Bangladesh and other developing countries with similar cultural and contextual values.

These findings have substantial policy considerations for improving firms' audit quality and, thus, their financial reporting quality, with implications for national and international standard-setters, regulators and other stakeholders.

This study is one of the earliest endeavours to investigate KAMs in a context of an emerging country, such as Bangladesh, which adopted KAMs' disclosure in 2018.