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Article
Publication date: 11 May 2020

Souhir Neifar, Bassem Salhi and Anis Jarboui

The purpose of this study is to determine the effect of board effectiveness (BE) on financial performance and operational risk (OR) disclosure and the interaction effect of a…

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Abstract

Purpose

The purpose of this study is to determine the effect of board effectiveness (BE) on financial performance and operational risk (OR) disclosure and the interaction effect of a bank’s Sharia Supervisory Board quality (SSB) with religious and ethical principles.

Design/methodology/approach

The data were collected from the annual financial reports of 25 Islamic banks (IBs) in the Gulf Cooperation Council countries over 2008-2017. The OR disclosure, the SSB quality and BE were measured using self-developed indices. The Tawhidi string relation methodology was used to establish the circular causal model. The moderating effect of the SSB quality on the performance, OR disclosure and board structure relationship was examined using the hierarchical regression analysis.

Findings

The main finding of this study is related to the positive moderating effect of SSB quality on the relationship between performance, OR disclosure and BE. This result seems to indicate that at a high level of SSB quality, even when the performance increase the IBs engage in complying with OR disclosure to inform the stakeholders on the real situation of the bank.

Practical implications

The finding of this research would be of great support to stakeholders and policymakers to make more pressure on IBs to improve the quality of their SSB structure and show more compliance with the governance recommendations. As an extension to this research, further study can examine other Islamic governance mechanisms such as Sharīʿah-compliant banks.

Originality/value

The present study provides a new addition to the prior literature by investigating the relationship between performance, BE, OR disclosure and the interaction effect of SSB quality. From an Islamic ethical, this research can also contribute to the growing discussion on SSB quality and performance.

Details

International Journal of Ethics and Systems, vol. 36 no. 3
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 15 June 2020

Mouna Amari, Bassem Salhi and Anis Jarboui

The objective of this study is to explore the effects of financial literacy level and risk aversion on the saving behavior. The literature review showed dialectical results…

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Abstract

Purpose

The objective of this study is to explore the effects of financial literacy level and risk aversion on the saving behavior. The literature review showed dialectical results. Therefore, this study attempts to clarify the debatable of these results by studying the mediating effect of risk aversion on the relationships between demographics determinants and saving behavior moderated by the effect of the financial literacy level.

Design/methodology/approach

The data were collected from the University of Normandy; the study sample included 516 respondents representing different segments of French households. The structural equation analysis was utilized to control the impact of financial literacy as a moderate variable and the risk aversion as a mediator variable among the link between sociodemographic factors and saving behavior.

Findings

The results demonstrated that there were significant effects of demographics factors on risk aversion. Moreover, financial literacy moderates the relationships between risk aversion and saving behavior.

Research limitations/implications

The major limitation of this research is the small size of the study sample. This paper is restricted to French households. Future financial education training should cover the European context.

Practical implications

This study provides further evidence that financial literacy should be considered an important factor for improving household well-being. The paper encourages governments and financial institutions to create a national financial education program.

Originality/value

This paper is the first attempt to employ a sample of low-income households after financial education training in the French context.

Details

International Journal of Sociology and Social Policy, vol. 40 no. 11/12
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 10 June 2020

Yasmine Souissi, Bassem Salhi and Anis Jarboui

The purpose of this paper is to document the relation between the bank’s regional CEO’s emotional bias (optimism and loss aversion) and the delegation of decision rights to the…

Abstract

Purpose

The purpose of this paper is to document the relation between the bank’s regional CEO’s emotional bias (optimism and loss aversion) and the delegation of decision rights to the account manager.

Design/methodology/approach

The partial least squares (PLS) method is applied to investigate the degree to which bank’s regional CEO delegate decisions and the circumstances that drive variation in delegation.

Findings

The results show that delegation does not appear to be monolithic; instead, the results show that delegation varies with the personal characteristics of the bank’s regional CEO.

Practical implications

Banks are invited to take into account the effect of the emotional biases of the directors on the delegation of its power.

Originality/value

The authors put forward an original effort that is intended to discuss in particular the effect of psychological biases on the decentralization of the decision-making rights.

Details

International Journal of Law and Management, vol. 62 no. 5
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 8 January 2020

Rakia Riguen, Bassem Salhi and Anis Jarboui

The purpose of this paper is to empirically examine how women in board represent moderates the relationship between audit quality and corporate tax avoidance.

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Abstract

Purpose

The purpose of this paper is to empirically examine how women in board represent moderates the relationship between audit quality and corporate tax avoidance.

Design/methodology/approach

The study is based on a sample consisting of 270 UK firms over the 2005–2017 period. This study is motivated by moderating regression analysis.

Findings

The results show that audit quality influences the corporate tax avoidance. Audit quality measured by two proxies audit specialization and audit fees has a negative effect on corporate tax avoidance. Board gender diversity “BGD” moderates the relationship between audit quality and tax avoidance. The impact of the BGD level increases as the presence of woman in the board escalated from 40 to 60 percent but, then, weakens at 10 percent level.

Practical implications

The findings may be of interest to the academic researchers, practitioners and regulators who are interested in discovering relation between audit quality and tax avoidance with the presence of woman in the board. This study should be of interest to tax policymakers concerned about declining corporate tax revenues.

Originality/value

This paper extends the existing literature by examining the moderating effect of BGD on the relation between audit quality and corporate tax avoidance using the sensitivity analysis.

Details

International Journal of Sociology and Social Policy, vol. 40 no. 1/2
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 7 December 2020

Marwa Moalla, Bassem Salhi and Anis Jarboui

This study empirically tests a comprehensive set of relevant factors to explain environmental reporting quality. This study aims to understand whether environmental assurance has…

Abstract

Purpose

This study empirically tests a comprehensive set of relevant factors to explain environmental reporting quality. This study aims to understand whether environmental assurance has a direct effect on “environmental reporting quality”. In addition, this study also aims to examine the relationship between corporate governance and the quality of environmental reporting as measured by voluntary and timely reporting.

Design/methodology/approach

A number of econometric techniques are used including panel data specifications using a sample of French listed companies in SBF120 for the period 2012–2017.

Findings

The results demonstrate that the presence of an environmental audit committee and the size of the environmental external assurance firm has a significant effect on the level of voluntary reporting of environmental information. The results also reveal that the presence of the environmental audit committee, as well as the corporate social responsibility (CSR) committee, the size of the environmental external assurance and corporate governance index, affect the timely environmental reporting.

Research limitations/implications

This study helps all market participants to more comprehensively evaluate the quality of environmental reporting in the French context and highlights whether various factors could affect the quality of the environmental information disclosed using a multi-theoretical framework.

Originality/value

This paper fills the gap in the literature by highlighting an unexplored field of literature about the quality of environmental reporting by linking on the division of the quality of environmental information reporting into sub-dimensions (voluntary reporting and timely reporting) in the French context. To the knowledge, no empirical study has been done on the timely reporting of environmental information in the French context or other contexts. The originality of the work consists of the fact that it is one of the first works that deal with the relationship between environmental external assurance, corporate governance and the quality of environmental reporting.

Details

Social Responsibility Journal, vol. 17 no. 7
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 30 August 2019

Bassem Salhi, Rakia Riguen, Maali Kachouri and Anis Jarboui

The purpose of this paper is to investigate the direct and indirect links between corporate governance and tax avoidance using corporate social responsibility (CSR).

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Abstract

Purpose

The purpose of this paper is to investigate the direct and indirect links between corporate governance and tax avoidance using corporate social responsibility (CSR).

Design/methodology/approach

This study is based on a sample consisting of 300 UK and 200 French firms over the period 2005-2017. This study is motivated by structural equations and system models that specify both a direct link and an indirect link between corporate governance and tax avoidance.

Findings

The results show that CSR fully mediates the relationship between corporate governance and tax avoidance in UK firms. In addition, in French firms, CSR partially mediates the relation between corporate governance and tax avoidance.

Practical implications

The findings may be of interest to the academic researchers, practitioners and regulators who are interested in discovering corporate governance score, tax avoidance and CSR. Regulators must evaluate their actual corporate governance mechanisms and their country’s legal system before mandating additional governance mechanisms for firms in their country.

Social implications

This study proved empirically that firms with a higher level of social responsibility are better positioned to obtain more transparency through reducing tax avoidance.

Originality/value

This paper extends the existing literature by examining the mediation effect of CSR on the relationship between tax avoidance and corporate governance.

Details

Social Responsibility Journal, vol. 16 no. 8
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 31 March 2020

Hanen Khaireddine, Bassem Salhi, Jabr Aljabr and Anis Jarboui

The purpose of this study is to investigate how board characteristics impact the governance, environmental and ethics disclosure. Board characteristics such as board size, gender…

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Abstract

Purpose

The purpose of this study is to investigate how board characteristics impact the governance, environmental and ethics disclosure. Board characteristics such as board size, gender diversity, board independence, CEO/chair duality and board meeting are included.

Design/methodology/approach

This study is based on a sample of 82 companies listed in the SBF120 between 2012 and 2017. A number of econometric techniques are used such as generalized least squares to test the panel regressions.

Findings

Board independence, board gender diversity and board meetings have a positive and significant influence on governance, environmental and ethics disclosure. Board size is positively and significantly associated only with corporate environmental disclosure. The adoption of Global Reporting Initiatives (GRI, G4) has not affected or biased the corporate governance (CG), environmental and ethics disclosure.

Originality/value

This study adds to the literature on management reporting behavior and ethics and contributes to the extant CG literature by offering new evidence on the disclosure of good CG practices as well as environmental and ethics behavior. This study offers new insights about the potential influence of board characteristics on such specific disclosure practices focusing “during the optional period of GRI4 and after their mandatory adoption”.

Details

Society and Business Review, vol. 15 no. 3
Type: Research Article
ISSN: 1746-5680

Keywords

Article
Publication date: 25 March 2022

Ferdaws Ezzi, Bassem Salhi and Anis Jarboui

This study aims to focus on the important role of chief executive directors (CEOs’) emotional intelligence to explain the interactive relationship between research and development…

Abstract

Purpose

This study aims to focus on the important role of chief executive directors (CEOs’) emotional intelligence to explain the interactive relationship between research and development (R&D) investment and environmental performance in the energy sector and also to explain how the diversification into new energy technology provides explanations for environmental problems.

Design/methodology/approach

This research was realised through the completion of a questionnaire-type inquiry structured around table-based analysis. Two five-scale questionnaires were completed by CEOs relating to oil and gas industry. The first instrument reflects the level of emotional intelligence. The second instrument indicates elements of environmental performance. A total of 158 firms were approached using a questionnaire, where 112 responses were received and 108 valid responses were used for analysis. The data were analyzed by the partial least squares method.

Findings

The results confirm the positive effect of CEOs’ emotional intelligence on the interaction between R&D, energy and recycling. In addition, the diversification strategy further influences the role of CEOs’ emotional intelligence to provide explanations into a R&D investment for the environmental problems in the Tunisian energy sector. The findings reveal challenges and opportunities for Tunisia’s energy industry to increase R&D investment that will enable the economy to use more environment-friendly devices and technologies that will be reducing pollution.

Originality/value

First, this study indicates the important role of managerial emotional intelligence to explain the impact of R&D investment and help Tunisian energy enterprises look for means to minimise their environmental expenses through raising energy efficiencies, reducing pollution and encouraging reuse and recycling. Second, this study explains how a diversification strategy can mediate the interaction effect of CEO emotional intelligence. The Tunisia oil and gas sector has not been subjected to extensive research and this paper, to the best of the authors’ knowledge, represents a first attempt to provide an overview of the sector.

Article
Publication date: 6 June 2022

Emna Mnif, Bassem Salhi, Khaireddine Mouakha and Anis Jarboui

Cryptocurrencies lack fundamental values and are often subject to behavioral bias leading to market bubbles. This study aims to investigate the contribution of the coronavirus…

Abstract

Purpose

Cryptocurrencies lack fundamental values and are often subject to behavioral bias leading to market bubbles. This study aims to investigate the contribution of the coronavirus pandemic to the creation of market bubbles.

Design/methodology/approach

This study identifies four major cryptocurrency market bubbles by using the Phillips et al. (2016) (hereafter PSY) test. Subsequently, the co-movements of the coronavirus proxies with PSY measurement using the wavelet approach were studied.

Findings

Short-lived bubbles are detected at the beginning of the studied period, and more extended bubble periods are identified at the end. Besides, the empirical results show evidence of significant negative co-movement between each pandemic proxy and each cryptocurrency bubble measurement.

Research limitations/implications

Given the complex financial dynamics of the cryptocurrency markets due to some behavioral biases in some circumstances, investors can benefit from the date stamping of the bubbles bursting to make the best trading positions. In the same way, governments could support the healthy development of cryptocurrencies by preventing bubbles during such pandemics.

Originality/value

The financial bubble is commonly attributed to a change in investor behavior. Because traders and investors think they can resell the asset at a higher price in the future. This study explored the contribution of the COVID-19 pandemic in the creation of these bubbles by date stamping their occurrence and explosive periods. To the best of the authors’ knowledge, this study is the first attempt that explores the contribution of the COVID-19 pandemic to the creation of bubbles caused by a change in the investors’ behavior.

Details

Review of Behavioral Finance, vol. 14 no. 4
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 2 May 2019

Mouna Aloui, Bassem Salhi and Anis Jarboui

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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.

Details

International Journal of Managerial Finance, vol. 15 no. 5
Type: Research Article
ISSN: 1743-9132

Keywords

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