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Article
Publication date: 10 July 2023

Anas Ali Al-Qudah and Asma Houcine

The purpose of the study is to investigate the factors that influence the adoption of new sustainability reporting (SDG) and external assurance (EXTA) practices. This study also…

Abstract

Purpose

The purpose of the study is to investigate the factors that influence the adoption of new sustainability reporting (SDG) and external assurance (EXTA) practices. This study also examines the relationship between sustainability reporting activity and corporate economic performance for a sample of 99 companies in Gulf Cooperation Council (GCC) countries that addressed SDGs in their sustainability reports published in 2019.

Design/methodology/approach

Using a two-stage analysis, this study examines how firms’ characteristics and corporate governance variables affect SDG and economic performance, as well as the firm’s decision to adopt EXTA statements for a sample of companies in that addressed SDGs in their sustainability reports published in 2019. The authors collected data from the Global Reporting Initiative’s (GRI) Sustainability Disclosure database and the Bureau van Dijk for Orbis database.

Findings

The results show that the variables firm size, profitability, big 4 auditors and government ownership significantly affect SDG and economic performance. The results also reveal that firms operating in the manufacturing sector are positively correlated with SDG and the firm’s decision to adopt EXTA statements. Furthermore, the results indicate that board independence positively affects SDGs and EXTA.

Research limitations/implications

The results can be particularly relevant and timely in helping large GCC companies promote their engagement to sustainable development practices by adopting more sustainable long-term strategies and policies. The findings could also guide managers in the strategic direction to identify firms’ characteristics and corporate governance features essential to promote sustainability reporting, an increasingly important performance indicator for investors and to enhance their confidence in the capital market. The results may also have practical implications to policymakers and other regulators in GCC countries to define effective frameworks that promote sustainable development reports and the use of EXTA.

Originality/value

The results make significant contributions by providing new insights to the existing literature on sustainability reporting in emerging markets by examining a unique perspective on the influence of firms’ characteristics and corporate governance features on the adoption of new sustainability reporting practices. The authors further add to the previous literature on the relationship between a firm’s economic performance and sustainable reporting by providing evidence from large companies in GCC countries, which might benefit from the adoption of multiple conceptual lenses, in this case, legitimacy and stakeholder theories. Lastly, through the empirical findings, this study provides economic validity to the 2018 joint initiative of the GRI and the United Nations Global Compact to strengthen corporate actions to achieve the United Nations SDGs.

Details

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

Keywords

Article
Publication date: 24 January 2024

Adam Yahya Jafeel, Ei Yet Chu and Yousif Abdelbagi Abdalla

This study aims to empirically examine the impact of internal corporate governance mechanisms (ICGM) related to the size of the board, board composition, CEO duality and audit…

Abstract

Purpose

This study aims to empirically examine the impact of internal corporate governance mechanisms (ICGM) related to the size of the board, board composition, CEO duality and audit committee independence as a single metric on a firm’s investment decisions.

Design/methodology/approach

This study attempts to develop an internal corporate governance quality index comprising 10 items under four main ICGMs – size and independence of the board, CEO duality and audit committee independence – employing panel data analysis to investigate its impact on the investment decisions in 301 nonfinancial firms listed in six emerging capital markets in the Gulf Cooperation Council (GCC) member countries for the years 2015–2020. Data were extracted from sample companies' websites, stock markets, annual reports and Refinitiv database.

Findings

This study provides convincing evidence that effective ICGMs minimize inefficient investment and ultimately boost investment efficiency. The findings remain consistent even after considering the potential endogeneity bias.

Originality/value

This study provides empirical evidence on investment efficiency in the GCC region and emphasizes the importance of high-quality ICGMs in reducing inefficient investment. By examining the impact of ICGMs on investment inefficiencies, this study contributes to the corporate governance literature. The GCC region's unique economic and social contexts, with its growing economies, are considered to shed light on this issue.

Details

Journal of Accounting in Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2042-1168

Keywords

Open Access
Article
Publication date: 4 May 2023

Abdelmounaim Lahrech, Bassam Abu-Hijleh and Hazem Aldabbas

This study aims to examine the relationship between global renewable energy consumption and economic growth in Gulf Cooperation Council (GCC) countries from 2001 to 2019.

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Abstract

Purpose

This study aims to examine the relationship between global renewable energy consumption and economic growth in Gulf Cooperation Council (GCC) countries from 2001 to 2019.

Design/methodology/approach

This paper used a panel regression model to study the six GCC countries over the period from 2001 to 2019.

Findings

As expected, the findings indicated a significant and negative relationship between global renewable energy consumption and GCC economic growth. Additionally, there was a positive and significant relationship between GCC economic growth and the control variables, specifically labor, capital, CO2 emissions and non-renewable energy production.

Practical implications

The results are of great importance to policymakers in GCC oil-exporting countries, as expected growth in renewable energy consumption will lower their economic growth in the future. Hence, they should first diversify their economy and lower their dependence on oil. Second, these countries can invest in solar energy through international joint ventures, especially with North African countries in close proximity to Europe, to become leaders in solar energy production.

Originality/value

How global energy consumption is related to GCC countries’ economic growth remains unclear, not only in GCC countries but also in many oil-exporting countries around the world, so future studies are needed. Furthermore, GCC governments will be able to create appropriate policies for the green economy and achieve their objectives if they have a comprehensive understanding of how global growth in renewable energy demand affects GCC economies.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 30 October 2023

John Rice, Muhammad Mustafa Raziq and Anestis Fotiadis

The purpose of the paper is to provide some insights into the importance of family business in the transition of the Gulf Cooperation Council (GCC) region into a diversified…

Abstract

Purpose

The purpose of the paper is to provide some insights into the importance of family business in the transition of the Gulf Cooperation Council (GCC) region into a diversified, modern economic region.

Design/methodology/approach

This is a viewpoint paper, bringing together recent relevant academic and industry literature combined with the authors' observations of emerging regional trends.

Findings

The authors find that family businesses have been an anchor of private sector economic development in the GCC. Family businesses across the region reflect both the challenges and opportunity of the context. Recent social and economic changes present challenges to the historical ways of operation, and yet they also present opportunities.

Originality/value

This paper is intended to be thought provoking and insightful for those in the region and those with an interest in the region. The unique social, historical and economic characteristics of the region are discussed along with their impact on family businesses.

Details

Journal of Family Business Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 9 January 2024

Umar Farooq, Mosab I. Tabash and Adel Ahmed

The purpose of this study is to check the impact of financial development on green technological innovation (GTI).

Abstract

Purpose

The purpose of this study is to check the impact of financial development on green technological innovation (GTI).

Design/methodology/approach

The sample size includes the 20-year (2001–2020) financial statistics of six Gulf Cooperation Council (GCC) region countries. To check the proposed relationship, this research uses a series of econometric models including fixed effect, fully modified ordinary least square and robust least square models.

Findings

The statistical results imply that financial sector development has a direct significant impact on GTI. A developed financial sector can uplift green technological development by offering more loans to industrial sectors and the import of modern technology. The statistical analysis further reveals the positive impact of gross domestic product (GDP), foreign direct investment inflow and trade volume while the negative impact of resources contribution on GTI.

Practical implications

The findings suggest key policy suggestions regarding the role of the financial sector in promoting GTI in the GCC region.

Originality/value

The novelty of this study lies in its examination of the relationship between FD and GTI in the GCC countries, a region with its unique economic and environmental dynamics.

Details

International Journal of Innovation Science, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-2223

Keywords

Article
Publication date: 15 December 2023

Rajib Shome, Hany Elbardan and Hassan Yazdifar

This paper provides a comprehensive review of the influential and intellectual aspects of the literature on the Gulf Cooperation Council (GCC) region's banking activities.

Abstract

Purpose

This paper provides a comprehensive review of the influential and intellectual aspects of the literature on the Gulf Cooperation Council (GCC) region's banking activities.

Design/methodology/approach

This study undertakes a bibliometric meta-analysis review of the GCC region banking literature, covering 199 articles published between 2004 and 2022, extracted from the Web of Science (WoS) database, followed by a content analysis of highly cited papers.

Findings

This paper identifies the influential aspects of the GCC region banking literature in terms of journals, articles, authors, universities and countries. The paper also identifies and discusses five major research clusters: (1) bank efficiency; (2) corporate governance (CG) and disclosure; (3) performance and risk-taking; (4) systemic risk, bank stability and risk spillovers and (5) intellectual capital (IC). Finally, it identifies gaps in the literature and highlights some important research issues that provide directions for future research.

Research limitations/implications

This paper is limited to the articles indexed in the WoS database and written in English. Though the WoS database encompasses a wide range of multidisciplinary journals, there is a chance that some relevant articles are not included in the WoS database or written in another language.

Practical implications

This study provides regulators, practitioners and academics with valuable insight and an in-depth understanding of the banking system of the GCC region.

Originality/value

To the best of the authors' knowledge, this is the first review paper on GCC region banking literature. This study provides regulators, practitioners and academics with valuable insight and an in-depth understanding of the banking system of the GCC region.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

Keywords

Open Access
Article
Publication date: 31 January 2024

Maha AlSabbagh

This study aims to quantify sectoral energy and carbon intensity, revisit the validity of the Environmental Kuznets Curve (EKC) and explore the relationship between economic…

Abstract

Purpose

This study aims to quantify sectoral energy and carbon intensity, revisit the validity of the Environmental Kuznets Curve (EKC) and explore the relationship between economic diversification and CO2 emissions in Bahrain.

Design/methodology/approach

Three stages were followed to understand the linkages between sectoral economic growth, energy consumption and CO2 emissions in Bahrain. Sectoral energy and carbon intensity were calculated, time series data trends were analyzed and two econometric models were built and analyzed using the autoregressive distributed lag method and time series data for the period 1980–2019.

Findings

The results of the analysis suggest that energy and carbon intensity in Bahrain’s industrial sector is higher than those of its services and agricultural sectors. The EKC was found to be invalid for Bahrain, where economic growth is still coupled with CO2 emissions. Whereas CO2 emissions have increased with growth in the manufacturing, and real estate subsectors, the emissions have decreased with growth in the hospitability, transportation and communications subsectors. These results indicate that economic diversification, specifically of the services sector, is aligned with Bahrain’s carbon neutrality target. However, less energy-intensive industries, such as recycling-based industries, are needed to counter the environmental impacts of economic growth.

Originality/value

The impacts of economic diversification on energy consumption and CO2 emissions in the Gulf Cooperation Council petroleum countries have rarely been explored. Findings from this study contribute to informing economic and environment-related policymaking in Bahrain.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 23 January 2024

Anas A. Al Bakri and Nazzal M. Kisswani

This study aims to provides the insights on the advantages and disadvantages of international franchising and licensing from the perspectives of legal and business considerations…

Abstract

Purpose

This study aims to provides the insights on the advantages and disadvantages of international franchising and licensing from the perspectives of legal and business considerations in the Gulf Cooperation Council (GCC).

Design/methodology/approach

Using a quantitative research approach, the authors conducted a survey with 150 business owners and franchisees in the GCC and analyzed the data using descriptive statistics, structural equation modeling and frequency analysis.

Findings

The findings reveal that while international franchising and licensing offer significant benefits for business expansion and revenue growth, they also pose risks related to legal compliance, cultural differences and intellectual property protection. Indeed, the results of this study provide valuable insights into the advantages and disadvantages of international franchising and licensing in the GCC from both legal and business perspectives.

Originality/value

There is limited research on the legal and business perspectives of international franchising and licensing in the GCC. This study contributes to the literature by providing a comprehensive analysis of the legal and business perspectives of international franchising and licensing in the GCC.

Details

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

Keywords

Article
Publication date: 14 March 2023

Ismail Ben Douissa and Tawfik Azrak

This study aims to investigate the existence of bubbles and their contagion effect in crude oil and stock markets of oil-exporting countries Gulf Cooperation Council (GCC) from…

Abstract

Purpose

This study aims to investigate the existence of bubbles and their contagion effect in crude oil and stock markets of oil-exporting countries Gulf Cooperation Council (GCC) from 2016 to 2021.

Design/methodology/approach

The authors use Generalized Sup augmented Dickey–Fuller (GSADF) and Backward Sup augmented Dickey–Fuller (BSADF) to significantly identify multiple bubbles stock and oil markets with precise dates. Furthermore, the authors check the contagion effect of bubbles between crude oil and GCC stock markets based on the time-varying Granger causality test.

Findings

First, the authors find empirical evidence of downwards bubbles in crude oil prices and in all GCC stock indexes (except the Saudi stock index) during the corona virus disease 2019 (COVID-19) outbreak. Second, the authors do not detect empirical evidence of bubble transmission between crude oil markets and GCC stock markets (except with the Dubai Financial Market index).

Practical implications

The findings of this study would illuminate policymakers not to limit the factors of systematic financial crises in oil-exporting countries to crude oil and to consider factors such as monetary policy and economic diversification measures. This study has also crucial implications for investors. In fact, investors should not ignore the responses of the stock markets to oil price shocks that are heterogeneous across countries when looking for investment opportunities in the GCC region.

Originality/value

The study justifies the changing nature of the bubble contagion effect through the novel implementation of the time-varying Granger causality test to detect whether bubble contagion exists between oil and GCC stock markets and if that does, in which direction.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 16 October 2023

Gopalakrishnan Chinnasamy, Araby Madbouly, S. Vinoth and Preetha Chandran

This study aims to identify the impact of intellectual capital (IC) on the bank’s performance using a cross-country approach with India and Gulf Cooperation Council (GCC…

Abstract

Purpose

This study aims to identify the impact of intellectual capital (IC) on the bank’s performance using a cross-country approach with India and Gulf Cooperation Council (GCC) countries using the Skandia navigator model (SNM).

Design/methodology/approach

This study uses a mixed-methods research approach by taking financial and non-financial measures to assess the impact of the IC on the bank’s performance using the SNM. The study implies an analysis of the data from the top ten banks in India and twenty banks in GCC countries. The selection was done based on the volume of the bank’s business for three years (2019–2020, 2020–2021 and 2021–2022).

Findings

The research has three main findings: there is a positive impact of IC on the bank’s performance; amongst the factors of SNM, there is a direct impact of human capital and customer focus on the performance of the selected banks in both India and GCC countries; and the other factors of SNM such as structural capital and process focus, renewal and development focus also affect the selected banks.

Research limitations/implications

The outcomes of the research may be useful for policymakers in India and GCC countries, as it identifies IC components that have a significant impact on the bank’s performance. This might enable them to develop policies that foster such factors, which, consequently, will improve the performance of the banks in the selected countries.

Originality/value

This study is an attempt to fill the gap in the existing literature on IC and bank’s performance for two different types of countries using the SNM.

Details

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

Keywords

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