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Relative to the randomized controlled trial (RCT), the basic regression discontinuity (RD) design suffers from lower statistical power and lesser ability to generalize causal estimates away from the treatment eligibility cutoff. This chapter seeks to mitigate these limitations by adding an untreated outcome comparison function that is measured along all or most of the assignment variable. When added to the usual treated and untreated outcomes observed in the basic RD, a comparative RD (CRD) design results. One version of CRD adds a pretest measure of the study outcome (CRD-Pre); another adds posttest outcomes from a nonequivalent comparison group (CRD-CG). We describe how these designs can be used to identify unbiased causal effects away from the cutoff under the assumption that a common, stable functional form describes how untreated outcomes vary with the assignment variable, both in the basic RD and in the added outcomes data (pretests or a comparison group’s posttest). We then create the two CRD designs using data from the National Head Start Impact Study, a large-scale RCT. For both designs, we find that all untreated outcome functions are parallel, which lends support to CRD’s identifying assumptions. Our results also indicate that CRD-Pre and CRD-CG both yield impact estimates at the cutoff that have a similarly small bias as, but are more precise than, the basic RD’s impact estimates. In addition, both CRD designs produce estimates of impacts away from the cutoff that have relatively little bias compared to estimates of the same parameter from the RCT design. This common finding appears to be driven by two different mechanisms. In this instance of CRD-CG, potential untreated outcomes were likely independent of the assignment variable from the start. This was not the case with CRD-Pre. However, fitting a model using the observed pretests and untreated posttests to account for the initial dependence generated an accurate prediction of the missing counterfactual. The result was an unbiased causal estimate away from the cutoff, conditional on this successful prediction of the untreated outcomes of the treated.

The purpose of this paper is to contribute to the existing disclosure literature by examining the determinants of corporate risk disclosure (CRD) in the internet reporting for a sample of Egyptian listed companies on the Egyptian Stock Exchange (EGX).

This study depends on a sample of 76 Egyptian companies included in the EGX 100 in the period 2012-2014. The study applies a content analysis and uses a sentence-based method to measure CRD in the internet reporting. Ordinary least-squares regression analysis is used to examine the impact of firm and board characteristics on CRD in the internet reporting.

The empirical analysis shows that large Egyptian companies tend to disclose more risk information in their internet reporting. Moreover, the results indicate that there is a significant positive association between sector type and CRD in the internet reporting. The results show non-significant association between CRD and other firm characteristics (cross listing and level of risk). Finally, there are no significant associations between CRD and board characteristics variables (board size, board composition and CEO duality).

The study’s findings have practical implications. It aids in informing policy makers considering implementing new economic reform programs about the properties of Egyptian companies that disclose risk information in their internet reporting. It provides insights on CRD in Egyptian companies for standards setters and professional authorities to improve risk reporting practices to help stakeholders in making good decisions.

This study is one of the first studies to examine the determinants of CRD in the internet reporting for a sample of Egyptian companies.

The study aims to analyse the level and trend of corporate responsibility disclosures (CRD) in annual reports of listed firms on the Ghana Stock Exchange against the Global Reporting Index and to examine the influence of the institutional environment on such disclosures.

A content analysis of annual reports of 17 listed firms in Ghana over a 10-year period (2003-2012) of social and environmental disclosures using the Global reporting indicators as the standard was undertaken. A multiple regression analysis using the random effect estimator was used to test institutional factors influencing CRD.

The study finds that listed firms in Ghana disclose some responsibility information; and this has increased over the period, with a significant dip in the year 2010. The study also documents a significant amount of disclosures post International Financial Reporting Standards (IFRS) adoption. The increase in disclosure is particularly explained by IFRS adoption by Ghana and the number of women on boards. This study finds a positive but weak relationship between companies’ association with foreign firms, majority shareholders and CRD. A positive significant relationship is confirmed for firm size, while capital intensity shows a negative significant relationship with CRD in Ghana.

The word search may not capture similar words not known to the author, and the words used may have different meanings. In addition, bias may arise from the limited sample size and the choice of companies. Regulators must enforce existing environmental guidelines and streamline reporting for social and environmental issues to help managers disclose more social and environmental information.

The study highlights CRD and its drivers from Ghana, an emerging African economy. To the author’s knowledge, this study is the first to undertake a longitudinal study on social and environmental disclosures of listed companies in Ghana against the Global Reporting Initiative and to determine the effect of IFRS adoption in Ghana on CRD.

The purpose of this paper is to examine corporate risk disclosure (CRD) practices and determinants in the annual reports of Egyptian listed companies during the 2011 political crisis (uprising) in Egypt.

Content analysis of the annual reports of a sample of non-financial listed companies representing different industry sectors was conducted to investigate attributes and factors underlying their risk disclosures.

The findings demonstrate that companies disclosed more monetary, future and good risk information. The results show a positive and significant relationship between company size and the level of CRD, a positive but insignificant relationship between the extent of CRD and some company-specific characteristics: industry type, profitability and cross-listing, and a negative and insignificant relationship between corporate reserves and the level of CRD.

A larger sample size would be needed for greater generalization of the findings. This study extends the literature on CRD by examining CRD practices at a time of current and ongoing crisis. However, more research is needed to examine variations in CRD practices before and after the 2011 political crisis.

The results could be used by information users, companies and the capital market authority to inform policy-making and tighten regulations to improve CRD. Recommendations are made for improving the quality and informativeness of risk information.

It is important to investigate CRD practices, considering the dearth of research, particularly in emerging capital markets and during crises, when companies are exposed to more, especially uncontrollable, risks. This study fills a void in literature by examining CRD practices during the 2011 political crisis in Egypt.

The purpose of this paper is to investigate a new and practical decision support model of the coordinated replenishment and delivery (CRD) problem with multi-warehouse (M-CRD) to improve the performance of a supply chain. Two algorithms, tabu search-RAND (TS-RAND) and adaptive hybrid different evolution (AHDE) algorithm, are developed and compared as to the performance of each in solving the M-CRD problem.

The proposed M-CRD is more complex and practical than classical CRDs, which are non-deterministic polynomial-time hard problems. According to the structure of the M-CRD, a hybrid algorithm, TS-RAND, and AHDE are designed to solve the M-CRD.

Results of M-CRDs with different scales show that TS-RAND and AHDE are good candidates for handling small-scale M-CRD. TS-RAND can also find satisfactory solutions for large-scale M-CRDs. The total cost (TC) of M-CRD is apparently lower than that of a CRD with a single warehouse. Moreover, the TC is lower for the M-CRD with a larger number of optional warehouses.

The proposed M-CRD is helpful for managers to select the suitable warehouse and to decide the delivery scheduling with a coordinated replenishment policy under complex operations management situations. TS-RAND can be easily used by practitioners because of its robustness, easy implementation, and quick convergence.

Compared with the traditional CRDs with one warehouse, a better policy with lower TC can be obtained by the new M-CRD. Moreover, the proposed TS-RAND is a good candidate for solving the M-CRD.

The purpose of this paper is to explore the relationship between the UAE corporations‐specific characteristics, mainly – size, level of risk, industry type and reserves – and level of corporate risk disclosure (CRD).

Since the UAE is an emerging capital market, the paper relies on the positive accounting and the institutional theories to generate testable hypotheses and explain the empirical findings. The paper draws results depending on a sample of 41 corporations. A risk disclosure index – based on accounting standards, prior literature, and the UAE regulatory framework – has been crafted and calculated for each corporation in the sample. The relationship between the level of CRD and corporations' characteristics is examined using multiple regression analysis.

The results show that corporate size is not significantly associated with the level of CRD. However, the corporate level of risk and corporate industry type are significant in explaining the variation of CRD. Finally, in contrast with reserves‐CRD hypothesized relationship, corporate reserve is insignificant and negatively associated with level of CRD.

The risk disclosure index items reflect their existence in annual reports rather than their level of importance.

The empirical findings suggest that corporate reserve, as an explanatory variable, needs further investigation as explained in the paper.

The crafting process of the CRD index depends on the UAE regulatory framework. The paper seems to add to the extremely limited literature relating to CRD in Arab countries in general and the UAE in particular.

The purpose of this paper is to study the relationship between culture, corporate governance (CG) variables and corporate risk reporting practices of listed companies in Nigeria and South Africa, two large African economies at the south of the Sahara.

The study uses 500 firm-year observations for the period of 2013–2017 for firms listed on the Lagos and Johannesburg Stock Exchanges. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis, which constitutes the main data analysis.

The results indicate that power distance is negatively associated with the corporate risk disclosure (CRD). This implies that organizations where power distance is high are characterized by lower CRD and vice versa. From the analysis, two factors, namely, institutional ownership and profitability, were found to explain sample firms’ risk disclosure practices as they are positively and statistically related to CRD.

This study is one of the few to measure the influence of culture and CG on CRD in Sub-Sahara Africa. Understanding the drivers for firms to disclose risk-related information may assist regulators and standards setters in promoting both the spread and the improvement of such disclosures through the issuance of CG codes and reporting guidelines.

The purpose of this paper is to increase knowledge about community relations and development (CRD) activities done in conjunction with mining activities of multinational companies affecting indigenous peoples and thus help improve relationships between them, despite continuing bad consequences the people continue to endure. It is through such better relationships that these consequences may be redressed and mitigated, and greater sharing of benefits of mining may occur, bearing in mind what constitutes benefits may differ from the perspectives of the indigenous peoples and the miners.

A qualitative approach is taken, including interviews with company officials responsible for CRD activities, elaborated with observations, company and public documents and previous literature about these mining operations and the peoples.

The CRD activities have gradually increased compared with their absence previously. They are officially labelled social investment in community development programmes, and are funded from profits and couched in terms of human development, human rights, preservation of culture and physical development of infrastructure. Dissatisfied with programme quality and relevance, company officials now relate with indigenous people, their leaders and representatives in ways called engagement and partnerships.

The findings can inform policies and practices of the parties to CRD, which in this West Papua case would be the miners and their company, CRD practitioners, the indigenous peoples and the civil authorities at the local and national level and aid industry participants.

The study acknowledges and addresses social initiatives to develop the indigenous peoples affected by mining.

The study extends older studies in the same territory before CRD had matured, and corroborates and elaborates other studies of CRD in different territories.

The purpose of this paper is to review the development of the Capital Requirements Directive (CRD) and examine the manner in which this has been implemented for investment firms in Malta. The paper also assesses the challenges that small and medium‐sized investment firms may face as a consequence of the proposed CRD IV, which seeks to safeguard the stability of the European banking sector.

A literature review of relevant EU and Malta legislation and policy documents has been carried out. The arguments made in the paper are the result of the author's reflections on the subject and discussions held with other policy experts on capital adequacy in Malta and the UK.

The paper considers the CRD from the perspective of small and medium‐sized investment firms and sheds light on the challenges faced by Malta with regards to the implementation of the CRD for these type of firms. It also examines the approach taken by the Malta Financial Services Authority in order to address these challenges.

Possible future challenges that might arise in view of CRD IV are also considered. It is a central argument of this paper that capturing investment firms, particularly small and medium‐sized firms, within the scope of regulation, the main purpose of which is to address systemic risk, may result in over‐regulation.

The purpose of this paper is to present the development of cumulative rainfall deficit (CRD) indices for corn in Shandong Province, China, based on high-resolution weather (county, 1980-2011) and yield data (township, 1989-2010) for five counties in Tai’an prefecture.

A survey with farming households is undertaken to obtain local corn prices and production costs to compute the sum insured. CRD indices are developed for five corn-growth phases. Rainfall is spatially interpolated to derive indices for areas that are outside a 25 km radius from weather stations. To lower basis risk, triggers and exits of the payout functions are statistically determined rather than relying on water requirement levels.

The results show that rainfall deficits in the main corn-growth phases explain yield reductions to a satisfying degree, except for the emergence phase. Correlation coefficients between payouts of the CRD indices and yield reductions reach 0.86-0.96 and underline the performance of the indices with low basis risk. The exception is SA-Xintai (correlation 0.71) where a total rainfall deficit index performs better (0.87). Risk premium rates range from 5.6 percent (Daiyue) to 12.2 percent (SA-Xintai) and adequately reflect the drought risk.

This paper suggests that rainfall deficit indices can be used in the future to complement existing indemnity-based insurance products that do not cover drought for corn in Shandong or for CRD indices to operate as a new insurance product.