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This study aims to examine the correlation between the readability of financial statements and the likelihood of future stock price crashes in nonfinancial companies listed on the Egyptian Stock Exchange. It further explores the possible moderating effect of audit quality on this relationship.

The study uses ordinary least squares regression, generalized least squares estimation and two-stage least squares methodology to examine and validate the research hypotheses. The sample comprises 107 nonfinancial companies registered on the Egyptian Stock Exchange from 2016 to 2019.

The results reveal a significant negative association between the readability of financial statements and stock price crash risk. This suggests that companies with more complex financial statements tend to experience higher future crash risks. Additionally, the study identifies audit quality as a significant moderating factor. Higher audit quality, often indicated by engagements with Big-4 audit firms, strengthens the influence of financial statements readability on stock price crash risk. This implies that while high audit quality enhances investor confidence and market stability, it also accentuates the negative consequences of complex financial statements.

The findings of this paper have significant implications for regulators and standard-setting bodies in Egypt. They should consider refining and revising existing standards to emphasize the importance of enhancing the readability of financial reports. Additionally, auditing firms should actively engage in efforts to ensure clearer and more transparent financial reporting. These actions are vital for boosting investor confidence, strengthening Egypt’s capital market and mitigating potential risks associated with information opacity and complexity.

This study represents a pioneering endeavor within the Arab and Egyptian financial environments. To the best of the author’s knowledge, it is the first examination of the association between the readability of financial statements and stock price crash risk in these contexts. Furthermore, it explores factors such as audit quality that may influence this connection.

The study aims to find out the impact of financial inclusion and financial development on financial stability using panel data from eight countries in the Middle East and North Africa (MENA).

To achieve the aim of the study, the researcher prepared two indicators of financial inclusion and governance to find out the impact of financial development on the relationship between financial inclusion and financial stability. Data on financial inclusion was obtained from the International Monetary Fund, data on financial development and financial stability were obtained from the World Bank.

The results of the fixed and random effect methods show that financial inclusion has a significant positive effect on financial stability. Additionally, financial development represents a moderating variable in the significant positive effect on the relationship between financial inclusion and stability in the MENA countries.

The current study suffers from some limitations that researchers must be aware of in future research. First, there is an inability to determine qualitative aspects such as time and cost when designing a composite indicator of financial inclusion. Second, due to limited data, we used only eight countries from the MENA. It is suggested to expand the sample to include other countries.

This paper contributes to the related literature between financial inclusion and financial stability by confirming or denying the results of previous studies. Also, to the best of the author’s knowledge, this paper is the only one that explains the role of financial development in the relationship between financial inclusion and stability in MENA countries, using a composite index to calculate financial inclusion. Finally, the study seeks to focus the attention of the government and policymakers to build a system of financial inclusion that leads to improving financial stability.

This study employs Stein Rokkan's methodological approach to analyse state formation in the Greater Middle East. It develops a conceptual framework distinguishing colonial, populist and democratic pacts, suitable for analysis of state formation and nation-building through to the present period. The framework relies on historical institutionalism. The methodology, however, is Rokkan's. The initial conceptual analysis also specifies differences between European and the Middle Eastern state formation processes. It is followed by a brief and selective discussion of historical preconditions. Next, the method of plotting singular cases into conceptual-typological maps is applied to 20 cases in the Greater Middle East (including Afghanistan, Iran and Turkey). For reasons of space, the empirical analysis is limited to the colonial period (1870s to the end of World War 1). Three typologies are combined into one conceptual-typological map of this period. The vertical left-hand axis provides a composite typology that clarifies cultural-territorial preconditions. The horizontal axis specifies transformations of the region's agrarian class structures since the mid-19th century reforms. The right-hand vertical axis provides a four-layered typology of processes of external intervention. A final section presents selected comparative case reconstructions. To the authors' knowledge, this is the first time such a Rokkan-style conceptual-typological map has been constructed for a non-European region.

While most West European nations were formed around pre-existing entities that could be called “countries” before the modern age, this was not the case in the Middle East. Some entities, like Egypt, did have a clear political and cultural identity before colonialism, others, like Algeria, did not. This chapter discusses the four states of the Maghreb: Morocco, Algeria, Tunisia and Libya, through the perspective of “country creation” going into and coming out of colonial rule. We can see here two “models” of fairly similar types of historical development, one showing a gradual process through a protectorate period to relatively stable modern nations, another through violent conquest and direct colonization ending in violent liberation and military and wealthy but fragile states. The article asks whether these models for the history of country creation and the presence or absence of pre-colonial identities can help explain the modern history and nature of these states in the Arab Spring and the years thereafter. Then, a more tentative attempt is made to apply these models to two countries of the Arab east, Syria and Iraq. While local variations ensure that no model can be transferred directly, it can show the importance of studying the historical factors that go into the transition from geographical region to a country with people that can form the basis of a nation.

This chapter aims to discuss the challenges facing these countries building productive capacity for development. This chapter makes use of data published by international organizations as indicators for measuring the state of development in the Arab region. Several indicators are presented to compare Arab countries with other world regions. The use of data identifies some of the gaps that countries in the Arab region need to close to strengthen capacity building for development and fostering economic growth. The findings from the data presented reveal that the productive structure in most Arab countries remains weak to generate production linkages and provide incentives for investment in nonenergy sectors. The failure of the export-led growth model to diversify output and promote development in energy producing countries has increased the dependence of these countries on global trade. Fluctuations in commodity prices and uncertainty about global demand for energy have influenced the ability of the state to construct strategies for rapid transformation. Except for the energy sector, the productivity of nonoil sectors remains low reflecting inadequate incentives and ineffective entrepreneurial capabilities. The study examines the challenges for building productive capacity in the Arab world. It illustrates the failure of the led-export model and its inability to prompted economic diversification, especially in the Gulf countries. The study contributes to the literature on capacity building in the Arab world so that to encourage researchers and students of development conducting studies concerning the main development challenges facing these countries.

Political Science in the United States has focused too much on variable-oriented, quantitative methods and thus lost its ability to ask “big questions.” Stein Rokkan (d. 1979) was an eminent comparativist who asked big questions and provided such qualitative tools as conceptual maps, grids, and clustered comparisons. Ibn Khaldun (d. 1406), arguably the first social scientist, also asked big questions and provided a universal explanation about the dialectical relationship between nomads and sedentary people. This article analyzes to what extent Ibn Khaldun's concepts of asabiyya and sedentary culture help understand the rise and fall of the Muslim civilization. It also explores my alternative, class-based perspective in Islam, Authoritarianism, and Underdevelopment. Moreover, the article explores how Rokkan's analysis of cultural, geographical, economic, and religio-political variations within Western European states can provide insights to the examination of such variations in the Muslim world.

The purpose of the paper is to showcase the significant achievements of Egypt's scientists in the 20th century across various fields of study such as medicine, physics, chemistry, biology, math, geology, astronomy and engineering. The paper highlights the struggles and successes of these scientists, as well as the cultural, social and political factors that influenced their lives and work. The aim is to inspire young people to pursue careers in science and make their own contributions to society by presenting these scientists as role models for hard work and dedication. Ultimately, the paper seeks to promote the importance of science and its impact on society.

The purpose of this review is to present the scientific biographies of Egypt's most distinguished scientists, primarily in the field of Natural Sciences, in a balanced and comprehensive manner. The work is objective, honest and abstract, avoiding any bias or exaggeration. The author provides a clear and concise methodology, including a brief introduction to the scientist and their field of study, an explanation of their major contributions, the impact of their work on society, any challenges or obstacles faced during their career and their lasting legacy. The aim is to showcase the important achievements of these scientists, their impact on their respective fields and to inspire future generations to pursue scientific careers.

The group of outstanding scientists in 20th century Egypt were shaped by various factors, including familial upbringing, education, society, political and cultural atmosphere and state support for scientific research. These scientists made significant contributions to various academic disciplines, including medicine, physics, chemistry, biology, mathematics and engineering. Their impact on their communities and cultures has received international acclaim, making them role models for future generations of scientists and researchers. The history of these scientists highlights the importance of educational investments and supporting scientific research to foster innovation and social progress. The encyclopedia serves as a useful tool for students, instructors and education professionals, preserving Egypt's scientific heritage and honouring the scientists' outstanding accomplishments.

The encyclopedia preserves Egypt's scientific heritage, which has been overlooked for political or other reasons. It is a useful tool for a variety of readers, including students, instructors and education professionals, and it offers insights into universally relevant scientific success factors as well as scientific research methodologies. The encyclopedia honours the outstanding scientific accomplishments of Egyptian researchers and their contributions to the world's scientific community.

The practical implications of this paper are several. First, it highlights the importance of education, family upbringing and societal support for scientific research in fostering innovation and social progress. Second, it underscores the need for continued funding and support for scientific research to maintain and build upon the accomplishments of past generations of scientists. Third, it encourages young people to pursue scientific careers and make their own contributions to society. Fourth, it preserves the scientific heritage of Egypt and honors the contributions of its outstanding scientists. Finally, it serves as a useful tool for students, instructors and education professionals seeking to understand the factors underlying scientific success and research methodologies.

The social implications of the paper include promoting national pride and cultural identity, raising awareness of the importance of education and scientific research in driving social progress, inspiring future generations of scientists and researchers, reducing socioeconomic disparities and emphasizing the role of society, politics and culture in shaping scientific researchers' personalities and interests.

The paper's originality/value lies in its comprehensive documentation of the scientific biographies of Egypt's most prominent scientists in the 20th century, providing unique insights into the factors that contributed to their development and their impact across various academic disciplines. It preserves Egypt's scientific heritage and inspires future generations of scientists and researchers through the promotion of educational investments and scientific research. The encyclopedia serves as a useful tool for education professionals seeking to understand scientific success factors and research methodologies, emphasizing the importance of supportive and inclusive environments for scientific development.

What kinds of support do interstate rivals provide to domestic actors in ongoing civil wars? And how do domestic actors utilize the support they receive? This chapter answers these questions by comparing Iranian and Saudi military and non-military (mediation, foreign aid and religious soft-power promotion) support to the Houthis and to the Government of Yemen (GoY) during the Saada wars (2004–2010) and the internationalized civil war (2015–2018). It also focuses on the processes through which the GoY and the Houthis have utilized this support for their own strategic purposes. This chapter applies a structured, focused comparison methodology and relies on data from a review of both primary and secondary sources complemented by 14 interviews. This chapter finds that there were less external interventions in the conflict in Saada than in the internationalized civil war. During the latter, a broader set of intervention strategies enabled further instrumentalization by domestic actors, which in turn contributed to the protracted nature of the conflict. This chapter contributes to the literature on interstate rivalry and third-party intervention. The framework of analysis is applicable to civil wars that experience intervention by rivals, such as Syria or Libya.

This chapter discusses the extension of legal equality between male and female citizens in four states in North Africa – Tunisia, Egypt, Morocco and Algeria – through one specific lens: A married woman's legal capacity to initiate and obtain divorce without the husband's consent. Building on the works of Stein Rokkan and Reinhard Bendix on the expansion of citizenship to the ‘lower classes’, it is argued that amendments in divorce law by introducing in-court divorce for women, in addition to out-of-court divorce, is a significant institutional change that extends legal equality between men and women. The introduction of in-court divorce expands female citizenship by bolstering woman's juridical autonomy and capacity in state law. Changes in divorce laws are thus part of state centralization by means of standardizing rules that regulate family law through public administrative institutions rather than religious organizations. Two questions are addressed: First, how did amendments in divorce laws occur after independence? Second, in which ways did women's bolstered legal capacity in divorce have a spill over effect on reforms in other patriarchal state laws? Based on observations on sequences of change in four states in North Africa, it is argued that amendments that equalize between men and women in divorce should be seen as a key driver for reforms in other state laws, that reduce legal inequality between male and female citizens. In all four states, women's citizenship was extended in nationality law and criminal law after amendments in divorce law gave women unilateral legal power to exit a marital relationship.