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The purpose of this paper is to fill a gap in the foreign exchange rate exposure management literature as the existing literature has focused only on developed economics, and also the current literature on foreign exchange rate exposure of cedant insurance companies is very limited. As Egyptian insurance companies deal directly with foreign exchange rates, they face exposure to exchange rates through their international reinsurance operations.

Martin and Mauer (2003, 2005) three-stage model is used to estimate foreign exchange rate transaction exposure for the sample of 23 Egyptian insurance companies over the period 2002-2009. However, the author has two innovations to this method. The author's first innovation is that instead of looking at the unanticipated operating income for each cedant company (as in both previous papers), this paper looks at the unanticipated operating income on an aggregate level. The author's second innovation is that instead of the model used in previous papers the author uses a model from the actuarial field that was proposed by Blum et al. (2001) for modelling foreign exchange rates with their relevant constituents (inflation and interest rate).

The central finding of the study is that the foreign exchange rate exposure across the Egyptian insurance industry is not significant (at the 10 per cent level) and investigates this result.

This study has made considerable contributions to the existing academic literature, but the findings also illustrate the limitations of the research undertaken. These limitations, however, provide important directions for future research. This thesis focused exclusively on the transaction exposure that Egyptian insurance companies experience to fluctuations in the US dollar exchange rate in relation to their international reinsurance operations. As a result, investigating both translation and economic exposure was beyond the scope and purpose of this study.

The findings of this research provide meaningful implications for industry practitioners. As Egyptian insurance companies are not immune from exchange rate risks, efforts must be made by each insurer to approximate and quantify their individual foreign exchange rate transaction exposure. Additionally, as Egyptian insurance companies increasingly operate worldwide (through the international reinsurance industry), this research and its results are significant for practitioners not only in Egypt, but also further afield. Finally, it is believed that this research will highlight greater implications for international financial players active in Egyptian financial and non-financial sectors, including banks not exposed singularly to US dollars, but to multiple currencies. One recent Egyptian example is Egypt Air, which lost an estimated US$600 million in 2013 due to foreign exchange rate fluctuations.

Since Egyptian insurance operates worldwide, the results of this paper are of significant not only for Egyptian insurance managers but also to practitioners beyond Egypt.

In developing countries, how risk management technologies influence management accounting and control (MAC) practices is under-researched. By drawing on insights from institutional studies, this study aims to examine the multiple institutional pressures surrounding an entity and influencing its risk-based management control (RBC) system – that is, how RBC appears in an emerging market attributed to institutional multiplicity.

The authors used qualitative case study research methods to collect empirical evidence from a privately owned Egyptian insurance company.

The authors observed that in the transformation to risk-based controls, especially in socio-political settings such as Egypt, changes in MAC systems were consistent with the shifts in the institutional context. Along with changes in the institutional environment, the case company sought to configure its MAC system to be more risk-based to achieve its strategic goals effectively and maintain its sustainability.

This research provides a fuller view of risk-based management controls based on the social, professional and political perspectives central to the examined institutional environment. Moreover, unlike early studies that reported resistance to RBC, this case reveals the institutional dynamics contributing to the successful implementation of RBC in an emerging market.

From 1979 to 2023, the takaful structure has been adopted in many jurisdictions, making the documenting of its early days of establishment relatively difficult and somewhat unreliable. This is unlike conventional insurance, where the history and legislation are well documented and archived in various research (Hellwege, 2016; Marano and Siri, 2017). The purpose of this paper is to provide a chronology for the establishment and development of takaful via the takaful establishment in each jurisdiction, documenting its first takaful operator and first takaful regulation.

This paper has used a qualitative method in the form of reviewing literature and available data such as journals, books and official resources. The data is thoroughly analysed in order to build the chronology for takaful. It adopted an exploratory research design, which is deemed suitable in situations where few works of literature have examined the subject (Neuman, 2014). The paper explores the establishment and non-establishment of takaful in 57 countries. The paper categorises the countries into seven regions starting with the GCC, Levant, Asia, Central Asia, Africa, Europe and Others.

The takaful chronology presented in this paper shows that takaful operations exist in 47 jurisdictions, starting from Sudan and the UAE in 1979, with the most recent adopters being Morocco and Iran in December 2021. It is found that 22 jurisdictions do not have takaful regulations, and the Takaful Act 1984, issued in Malaysia, is considered the first takaful regulation that sets the basis for other regulations that follow.

The paper contributes to the literature by providing a comprehensive chronology of takaful, especially as the few existing timelines have been found to be incomplete and consist of contradictory information.

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

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.

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.

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.

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.

The purpose of this study is to estimate the linear regression parameters using two alternative techniques. First technique is to apply the generalized linear model (GLM) and the second technique is the Markov Chain Monte Carlo (MCMC) method.

In this paper, the authors adopted the incurred claims of Egyptian non-life insurance market as a dependent variable during a 10-year period. MCMC uses Gibbs sampling to generate a sample from a posterior distribution of a linear regression to estimate the parameters of interest. However, the authors used the R package to estimate the parameters of the linear regression using the above techniques.

These procedures will guide the decision-maker for estimating the reserve and set proper investment strategy.

In this paper, the authors will estimate the parameters of a linear regression model using MCMC method via R package. Furthermore, MCMC uses Gibbs sampling to generate a sample from a posterior distribution of a linear regression to estimate parameters to predict future claims. In the same line, these procedures will guide the decision-maker for estimating the reserve and set proper investment strategy.

The purpose of this paper is to evaluate the current mortgage system in Egypt.

The institutional and regulatory structures of two international mortgage systems, namely: the USA and the Malaysian were examined through an extensive literature survey. On the other hand, data on the Egyptian mortgage system were collected, analyzed, then compared to both practices.

The results identified several limitations in the Egyptian mortgage practice such as: inefficient procedures of property registration; absence of an efficient mortgage secondary market; relatively high‐mortgage lending rates; non‐existence of various types of mortgage instruments and lack of credit enhancement tools.

The study presented several recommendations for improving the existing mortgage practice, among which were: realizing a proper secondary market and lowering mortgage lending rates.

By 2002, a sharp decline was experienced in the sales of housing units due to the various credit restrictions adopted by banks, coupled with high‐interest rates in relatively short amortizing periods. Accordingly, home finance process was held up, as the purchasing power of low‐ and middle‐income homebuyers was not sufficient to buy homes with such provisions. This situation imposed the need for a long‐term housing financing mechanism that would directly retrieve the residential construction sector.

This research was innovative in the sense that it directed the Egyptian Government's attention to the existence of Cagamas in Malaysia and accordingly, the first liquidity facility company in Egypt was established in June 2006.

The purpose of this paper is to determine the predominant classification of intellectual capital (IC), in terms of components, using the literature of reference on the relationship between IC and performance and considering multi-dimensional analysis axes (MAAs): organisational, regional and national.

A systematic literature review (SLR) is presented focussing on empirical studies on IC published in the period 1960-2016. A protocol for action is defined and a research question is raised, gathering data from the databases of: Web of Science, Scopus and Google Scholar. A social network analysis is also provided to determine the type of networks embracing groups, IC individual components and performance type.

Of the 777 papers included in the SLR, 189 deal with the relationship between IC and performance. The paper highlights the greater development of empirical studies starting from 2004; the organisational MAA is the most studied. The most frequently used groups of components in studies dealing with IC’s influence on performance corresponds to a triad of human capital; structural (organisational or process) capital; and relational (social or customer) capital, which determine positively the performance of organisations/regions/countries, but their influence is not linear and depends on various factors associated with the context and surrounding environment.

This study has wide-ranging implications for politicians/governments, managers and academics, providing empirical evidence about the relationships between the components of IC and performance, by MAAs, and a global vision and better understanding of how those IC components have developed and how they are related to performance.

Due to the high number of references covering a wide range of disciplines and the various dimensions (e.g. organisational, regional and national) that form IC, it becomes fundamental to carry out an SRL and systematise its MAAs to deepen knowledge about what has been discovered/developed in this domain, in terms of empirical studies, in order to situate the topic in a wider theoretical-practical context. The paper is exceptionally wide-ranging, covering the period 1960-2016. It is one of the first clarifying studies on systemisation of the literature on IC, by MAA, and an in-depth study of IC’s impact on the performance of organisations/regions and countries which may serve as a guideline for future studies using the taxonomy proposed.

The purpose of this study is to examine the impact of competing logics on the implementation of risk-based management controls (RBMC) by providing evidence of resistance due to competing logics. Moreover, the study proposes solutions to logic contestation. These solutions may help the company override logic complexity.

This study draws upon the theory of institutional logics. It adopts an interpretative qualitative research approach and uses the case study method. Data were collected from one of the biggest private sector insurance companies in Egypt through a triangulation of interviews, observations and documents.

We found that internalised and institutionalised roles and structures – represented by the incumbent corporate and community-related sets of logics – compete and disrupt the emerging enterprise risk management and RBMCs. The newly imposed RBMCs produced heterogenic practices that changed the means of controls at the case company. However, this change was faced by resistance from local employees, as it represented a challenge to the prevailing cultural symbols and norms in their traditional work environment.

This study contributes to the literature by offering new evidence on resistance to Western risk-based management control projects applied in emerging markets. Moreover, it extends the cultural political economy of management accounting and control by illustrating that management accounting in emerging markets is also an operational manifestation of culture, community and location.

The purpose of this paper is as follows: First, understanding the nature of the relationship between corporate adoption of the concept of societal responsibility [availability of environmental awareness, clear vision of the impact of societal responsibility on financial performance, managers informing employees of the latest developments in societal responsibility programs, managers' response to their corporate social responsibility (CSR) proposals] in the form of an annual report that supports the success of the company's objectives, the company's management encourages employees to participate collectively in societal responsibility programs and to protect the environment from pollution in the petrochemical industry. Second, understand the nature of the relationship between the dimensions of corporate social responsibility concept (cultural, social, economic, ethical and legal) and protect the environment from pollution in the petrochemical industry. Third, the research also seeks to show the role of societal responsibility and its application in the petrochemical companies to protect the environment from pollution in The Governorate of Alexandria – Egypt, and come out with results and recommendations that could help protect the environment from the forms of environmental pollution resulting from the production processes of this industry.

The researcher has relied on each of the following approaches: Case study methodology is a research strategy aimed at solving a problem or facing a particular situation. It is based on preliminary hypotheses through full analysis of all data collected and recorded. Which depends on the study of a limited number of cases or vocabulary in-depth comprehensive study through the study of all or a large number of variables overlapping and interrelated and influential on the problem under consideration. Thus, it provides a deep and rich understanding of what is going on around the research and the processes that are related to it, and not only the external or apparent description of the situation or phenomenon; it cares about the total description and looks at the particles, in relation to the whole. Quantitative approach: by giving a numerical description indicating the size or size of the phenomenon or the degree of association with the phenomenon. Other phenomena. Accordingly, the role of the petrochemical companies in Alexandria Governorate, and the social responsibility programs carried out within the governorate in terms of importance, growth and requirements, and the most important characteristics and constraints and components and methods of work and developments have been described. Thus, the researcher can analyze the relationship between CSR and environmental protection from pollution in Alexandria Governorate.

There is paucity in the studies that dealt with the relationship between CSR and environmental protection against pollution in public organizations. There is agreement among the sample on the importance and feasibility of adopting the concept of social responsibility and placing it at the top of the top management concerns, especially in the field of petrochemical companies. With the need to take concrete implementation measures to support social responsibility programs aimed at serving the community among all stakeholders. The effective implementation of the mechanisms for the implementation of meaningful social responsibility programs requires fundamental changes in management practices, existing organizational structures and the quality of personnel working in the relevant departments, in general, and the social responsibility group, in particular, which may be difficult for political and economic reasons.

Time: The study period was set from 2015 to 2017. Place: The study focuses on the petrochemical companies operating in Alexandria. Humanity: The study focuses on the employees of the petrochemical companies operating in Alexandria Governorate.

The adoption of social responsibility positively affects the protection of the environment from pollution, and this effect shows that the adoption of the concept of corporate social responsibility is influenced by the following factors: increasing the participation of workers with healthy environmental contributions to the productive process; increasing the companies' economic and social activities toward protecting the environment from pollution; increasing the capacity of companies to pay greater costs to preserve the environment; increasing the awareness of green consumers with the products it offers Companies; development of continuous internal work environment companies; and clearly defined strategy followed in social responsibility programs.

The social responsibility of the public organizations derives their strength through, first, the keenness of these organizations to analyze the variables of the ethical dimension of social responsibility and their availability, which will lead the organizations to provide their services with the highest quality and sincerity. That this analysis (ethics of individuals) as training members of the social responsibility team to solve problems using brainstorming and provide employees with official data related to improving work (ethics of leadership), such as the identification of business objectives through the participation of managers with subordinates, and the punishment of workers who exhibit immoral behaviors (ethics of productive processes) as a decision-making process to ethical standards regardless of the costs involved. When there is an immoral behavior and managers are responsible for implementing the changes needed to reach the targeted outcomes), second, promote partnerships with other relevant sectors for community service.

According to the results of the previous studies and the applied study results, the researcher would like to submit a mechanism to the directors and heads of the boards of directors of the Egyptian petrochemical companies under study.

Disclosure and transparency are major pillars of corporate governance which need to be greatly promoted in Egypt. This research aims to understand how different kinds of institutional investors affect levels of voluntary disclosure and transparency.

The research was conducted on the most active Egyptian companies over a period of five years. A voluntary disclosure checklist was first developed to assess levels of voluntary disclosure and transparency.

Empirical results support significant positive impacts of both bank ownership and foreign ownership on voluntary disclosure and transparency. Among the four firm characteristics controlled for in the research, firm size was the only one with a highly significant positive impact on voluntary disclosure and transparency.

The results of this research may not be generalized to all companies, as it was only conducted on the most active firms on the Egyptian Exchange. Therefore, it is recommended that future researches integrate a more diversified sample.

The research provides empirical evidence that institutional investors are not a homogeneous group and that different kinds of institutional ownership impact differently on voluntary disclosure and transparency. As such, some institutional investors are more influential than others when it comes to increasing corporate voluntary disclosure and transparency and in reducing agency problems.

This research offers assistance to policy makers interested in enhancing corporate disclosure and transparency. It is particularly important during any adjustment to ownership policies in Egypt.