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Article
Publication date: 30 April 2018

Modest Paul Assenga, Doaa Aly and Khaled Hussainey

This paper aims to investigate the impact of board characteristics on the financial performance of listed firms in Tanzania. Board characteristics, including outside directors…

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Abstract

Purpose

This paper aims to investigate the impact of board characteristics on the financial performance of listed firms in Tanzania. Board characteristics, including outside directors, board size, CEO/Chair duality, gender diversity, board skill and foreign directors are addressed in the Tanzanian context by applying two corporate governance theories, namely, agency theory and resource dependence theory.

Design/methodology/approach

The paper uses balanced panel data regression analysis on 80 firm-years observations (2006-2013) from annual reports, and semi-structured interviews were conducted with 12 key stakeholders. The study uses also a mixed methods approach and applies a convergent parallel design (Creswell and Plano Clark, 2011) to integrate quantitative and qualitative data.

Findings

It was found that in terms of agency theory, while the findings support the separation of CEO/Chairperson roles, they do not support outside directors-financial performance linkage. With regard to resource dependence theory, the findings suggest that gender diversity has a positive impact on financial performance. Furthermore, the findings do not support an association between financial performance and board size, PhD qualification and foreign directors.

Practical implications

The study contributes to the understanding of board-performance link and provides academic evidence to policy makers in Tanzania for current and future governance reforms.

Originality/value

The findings contribute to the literature by providing new and original insights that, within a developing setting, extend current understanding of the association between corporate governance and financial performance. This is predicated, also, on the use of uncommon mixed methods approach.

Details

Corporate Governance: The International Journal of Business in Society, vol. 18 no. 6
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 5 May 2022

Arshad Hasan, Doaa Aly and Khaled Hussainey

This paper aims to investigate the impact of corporate governance on financial reporting quality (FRQ) in Pakistan and the UK.

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Abstract

Purpose

This paper aims to investigate the impact of corporate governance on financial reporting quality (FRQ) in Pakistan and the UK.

Design/methodology/approach

In this paper, three accrual-based models are used to analyse FRQ for a sample of 1,550 firm-year observations, including 78 Pakistani firms and 77 UK firms, for the period 2009–2018.

Findings

The analysis shows that board size has a negative impact on FRQ while foreign ownership has a positive impact for Pakistani and UK firms. It also shows that board independence has a positive impact on FRQ of Pakistani firms, while board meetings frequency and audit committee independence have a negative impact. We make no such observation for UK firms. In addition, the analysis shows that board gender diversity and ownership concentration negatively affect FRQ of UK firms. This study makes no such observation for Pakistani firms.

Research limitations/implications

Due to the study’s focus on Pakistani and UK firms, the findings may not be generalizable to other developed and emerging economies.

Practical implications

The findings provide valuable insight to policymakers, regulators and investors by suggesting that the impact of board composition on FRQ of both Pakistani and UK firms is weak. The findings suggest that board size and foreign ownership are the attributes that require regulatory focus to increase FRQ. The negative impact of audit committee independence on FRQ induces rethinking among the policymakers in Pakistan and calls for fully independent audit committees.

Originality/value

To the best of the authors’ knowledge, this is the first research endeavour to compare the context of a developed and an emerging economy regarding the impact of corporate governance on FRQ. It also contributes to the governance literature by using three measures of FRQ and a comprehensive set of corporate governance attributes.

Details

Corporate Governance: The International Journal of Business in Society, vol. 22 no. 6
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 1 February 2021

Esam Shehadeh, Doaa Aly and Ibrahim Yousef

The purpose of this study is to analyse the level of online disclosure of firms in the USA and to evaluate the impact of diversity in terms of director nationality (boardroom…

Abstract

Purpose

The purpose of this study is to analyse the level of online disclosure of firms in the USA and to evaluate the impact of diversity in terms of director nationality (boardroom internationalisation) on online disclosure.

Design/methodology/approach

The authors apply, for the first time, a new modified scoring system to measure online disclosure levels by securing more detailed information on each of the items in the voluntary disclosure index. Regarding the percentage of foreign board members, unlike in previous research, the authors calculate two additional proxies to more accurately specify the level of international diversity on the board: the Blau Index and the Shannon Index. Moreover, the authors use a cross-sectional model for the sampled non-financial S&P500 firms using both ordinary least squares (OLS) and heteroskedasticity-corrected estimates to analyse the impact of boardroom internationalisation on the level of online disclosure.

Findings

The findings reveal that the average online disclosure level for the sample in question is 64% for the 0–1 index and 57% for the 0–4 index. In addition, the results of the regression analysis confirm the study’s proposed hypothesis, which is that the presence of international board members correlates with an improvement in the level of online disclosure. This can be attributed to the fact that foreign directors bring unique skills and knowledge from their home countries and thus, increase board discussion, creativity and innovation, which has a positive impact on the level of online disclosure.

Research limitations/implications

Financial firms are subject to capital requirement regulations; consequently, disclosure practices can be influenced. Therefore, these firms were excluded from the sample of the study.

Originality/value

This research contributes to the body of literature on nationality diversity of firm boards and corporate online disclosure in several respects. Firstly, the study adds an international dimension to the existing literature. Secondly, this study provides new evidence that foreign diversity on the board can improve firm value, insofar as the corresponding enhancement of online disclosure leading to positive capital market implications. Thirdly, the authors use, for the first time, a new scoring system approach to measure the level of online disclosure. Finally, it contributes to the corporate governance literature by basing its analysis on a multi-theoretical approach.

Details

Journal of Financial Reporting and Accounting, vol. 19 no. 4
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 8 May 2018

Doaa Aly, Sherif El-Halaby and Khaled Hussainey

This paper aims to examine the extent to which financial performance (FP) represents one of the main determinants for tone disclosure (TD) in Egyptian annual reports. The authors…

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Abstract

Purpose

This paper aims to examine the extent to which financial performance (FP) represents one of the main determinants for tone disclosure (TD) in Egyptian annual reports. The authors also measure the bidirectional relationship between TD and FP.

Design/methodology/approach

The manual content analysis is used to measure the levels of TD in annual reports for a sample of 105 firms listed on the Egyptian stock market. The sample covers a three-year period (2011-2013).

Findings

The descriptive analysis in this paper shows that Egyptian firms disclose more good news than bad news. Therefore, the net news disclosure, or net variances, between good/bad is positive. The empirical analysis shows a positive association between the narrative disclosure of good/bad news and FP based on return on assets. The authors also find a highly significant association between the auditor, profitability, leverage, firm growth and financial reporting of good/bad news information. Finally, the results of the ordinary least squares regression show that the causality between the two endogenous variables runs from FP to TD. Thus, TD is determined by FP.

Originality/value

This study offers a novel contribution to disclosure studies by being the first study to examine TD in one of the developing countries.

Details

Accounting Research Journal, vol. 31 no. 1
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 18 March 2022

Rosnia Masruki, Khaled Hussainey and Doaa Aly

This paper aims to examine stakeholders’ expectations of accountability in non-profit organisations (NPOs) in general, and State Islamic Religious Councils (SIRCs) in particular.

Abstract

Purpose

This paper aims to examine stakeholders’ expectations of accountability in non-profit organisations (NPOs) in general, and State Islamic Religious Councils (SIRCs) in particular.

Design/methodology/approach

An online survey was used to collect data, which was then analysed descriptively. Furthermore, the differences between stakeholder groups were evaluated using the Mann–Whitney and Kruskal–Wallis tests.

Findings

The findings indicate that NPOs generally and SIRCs specifically need to clarify the meaning of accountability to meet the expectations of their stakeholders, especially the public, and to address accountability inquiries.

Research limitations/implications

The research method was a limitation of this study. The data was collected using a survey. Generally, surveys contain restricted numbers and types of questions that the authors have outlined. Consequently, respondents might be constrained in their choice of how they perceive accountability. So, surveys used to collect respondents’ opinions may have an adverse effect on their responses. In addition, a number of respondents may also give superficial answers, particularly if they are required to answer a number of questions over a long period of time. Finally, the data collected using surveys might show what respondents think about accountability, but they do not show the actual practice.

Practical implications

Owing the highest accountability to the Board of Directors is akin to the practices of corporations. The findings of this study could assist their top officials to understand the accountability chain within SIRCs. This is consistent with the findings regarding accountability within SIRCs, whereby they perceived that they are responsible to their board for performance. Therefore, this should encourage the reporting of performance to both internal and external stakeholders.

Originality/value

Overall, perceptions on accountability are an ongoing debate, and they depend on the role of the organisation and expectations of stakeholders. Identifying a clear accountability chain is essential to develop the best reporting practices for SIRCs. The paper contributes to the literature by addressing two questions on accountability for NPOs: to whom and for what.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 5
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 5 January 2010

Doaa Aly, Jon Simon and Khaled Hussainey

The purpose of this paper is to examine the potential factors that may affect the level of corporate internet reporting by Egyptian listed companies.

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Abstract

Purpose

The purpose of this paper is to examine the potential factors that may affect the level of corporate internet reporting by Egyptian listed companies.

Design/methodology/approach

The content analysis approach to examine the information cited by the largest Egyptian companies is used in their web sites. The paper modifies and uses the disclosure index of Xiao et al. Ordinary least square multiple regression analysis is used to examine the determinants of the internet reporting.

Findings

It is found that 56 per cent of Egyptian companies report a significant portion of information on their web sites. In addition, the paper finds that some financial characteristics explain the variation in the degree of internet reporting between Egyptian listed companies. In particular, profitability, foreign listing and industrial type (communications and financial services) are the determinants of the amount and presentation formatting of information disclosed on Egyptian companies' web sites. However, other firm characterises, such as firm size, leverage, liquidity and auditor size, do not explain corporate internet reporting.

Practical implications

The research finding is essential as it assists in informing regulators about the characteristics of Egyptian companies that are, and are not, satisfying national and international investors' demand of updated/online information. It also assists current and potential stakeholders to know the drives of corporate internet reporting in Egypt. Consequently, they may further investigate and verify such reporting practices. In practice, online reporting can be used as an effective tool for improving stakeholders' decision‐making process. Therefore, further research can be undertaken to examine the degree to which online reporting provides value‐relevant information for stakeholders.

Originality/value

To the best of the knowledge, there is no study examining the potential drivers of internet corporate reporting practice in Egypt. This paper is the first to examine the potential factors affecting corporate internet reporting in Egypt. The disclosure index used is designed to be suitable for companies working in the Egyptian environment.

Details

Managerial Auditing Journal, vol. 25 no. 2
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 20 October 2021

Doaa H. Elgohary, Tamer F. Khalifa, Mona M. Salem, Nermin M. Aly, Elham Hassan and Ashraf A. Shamaa

The purpose of this work is to perform an application study on experimental animals (dogs) to investigate the efficiency of using weft knitted mesh fabric as cardiac support mesh…

Abstract

Purpose

The purpose of this work is to perform an application study on experimental animals (dogs) to investigate the efficiency of using weft knitted mesh fabric as cardiac support mesh to support left ventricular hypertrophy.

Design/methodology/approach

In this work, weft-knitted mesh sample “Knitted Cardiac Support Mesh” manufactured using Nylon (6, 6) yarns, with count 20 Denier and medium mesh size, was placed around the two ventricles to prevent further dilatation, support and reduce left ventricular wall stress.

Findings

Medical textile is a rapidly expanding field in technical textiles that are widely used in a variety of medical applications. One of these medical textile applications is “Knitted Cardiac Support Mesh”, which is used in the treatment of Dilated Cardiomyopathy.

Originality/value

After the implantation of the manufactured Knitted Cardiac Support Mesh around the myocardium, all dogs survived for three months before being euthanized, and some clinical examinations were performed to investigate and evaluate the sample performance. It was demonstrated from the experimental application, that the nylon mesh sample performed the best during the surgical operation due to its good ability to stretch and recover at a moderate rate, as well as the textile mesh lightweight.

Details

Research Journal of Textile and Apparel, vol. 26 no. 4
Type: Research Article
ISSN: 1560-6074

Keywords

Article
Publication date: 4 August 2020

Salwa H. El-Sabbagh, Nivin M. Ahmed, Doaa Samir Mahmoud and Wael S. Mohamed

The purpose of this paper is to evaluate the efficiency of commercial silica, silica fume-waste (SF) and modified silica fume-waste (mSF) as reinforcing filler in…

Abstract

Purpose

The purpose of this paper is to evaluate the efficiency of commercial silica, silica fume-waste (SF) and modified silica fume-waste (mSF) as reinforcing filler in acrylonitrile-butadiene rubber (NBR) and ethylene propylene diene monomer (EPDM) through the mixing process of rubber. The composites were prepared using different loadings of silica fume and commercial silica in EPDM and NBR composites. Structural characterization of silica and SF was done using X-ray fluorescence and scanning electron microscopy (SEM). The surface of silica fume waste was modified using poly methyl methacrylate/butyl acrylate through emulsion polymerization to increase the interaction between silica and rubber, then consequently better dispersion in rubber matrix was obtained. The mSF waste was characterized using FT-IR spectra and transmission electron microscopy.

Design/methodology/approach

The investigated rubber mixes and vulcanizates were evaluated by measuring the curing characteristics, mechanical testing, thermogravimetric analysis and morphological studies (SEM). The mechanical properties of composites including tensile strength, elongation at break and modulus were estimated and analyzed.

Findings

The results revealed that the composites (NBR and EPDM) containing mSF as filler exhibited better rheological and mechanical properties compared to unmodified silica waste and commercial silica. The SEM analysis indicated that the mSF was homogeneously dispersed through the surface of NBR and EPDM composites. Also, results showed that (NBR and EPDM) composites exhibited remarkable improvements in tensile strength, elongation at break and hardness in the presence of mSF; they also showed an increase in the thermal stability. This means that the treatment of surface SF can improve its dispersion in rubber.

Research limitations/implications

Silica cannot be applied in rubber matrix without surface modification because of their incompatibility; their dispersion is not good without surface modification.

Practical implications

The modified silica surface is considered as effective reinforcing filler which can replace other fillers because of its lower surface energy and enhanced intercalating behavior in rubber.

Social implications

This study is just a start in establishing rubber projects with wide applications in the industry and providing a cheap local product while preserving the quality and that is the use of factory waste, which helps in protecting the environment from pollution.

Originality/value

mSF is cheap with relatively high purity, which make rubber/mSF composites appear as new grade of material that can be used in different media rather than rubber.

Details

Pigment & Resin Technology, vol. 50 no. 1
Type: Research Article
ISSN: 0369-9420

Keywords

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