Search results

To examine how social media restrict and recreate messages within current interactionist scripts in the Middle East and North Africa (MENA), this study applies a framework of digital reflexivity highlighting stages of information flow. It applies the symbolic interaction concept of emotional events to analyze the self-immolation of Mohamed Bouazizi and the role of social media in disseminating Bouazizi’s act as one catalyst of the MENA citizen uprisings. The role of social media in the “Arab Spring” merits investigation because social media provide opportunities to examine shifting identities, interactions, and actions of citizen activists in the MENA uprisings. This study is important and timely because little symbolic interactionist scholarship exists on MENA identities and social movements, or on crowd interaction and activism outside the West. The nuanced nature of MENA political activism and complex processes of the development of activists’ “mutable” selves (Zurcher, 1977) are fluid and resistant to symbolically defined social roles, interactionist scripts and reflexivity, and public communication practices in a MENA under political and social transition.

The purpose of this paper is to investigate the potential influence of internal and external corporate governance mechanisms on audit risk in Tunisian companies.

Based on a sample of Tunisian non-financial firms listed on the Tunisian Stock Exchange (TSE) over the periods 2005 to 2010 (pre- 2011 revolution) and 2011 to 2017 (post −2011 revolution), consisting of 371 observations for the whole period, the authors apply the generalized least square (GLS) to test the research hypotheses and model.

The results are consistent with the agency theory suggesting that efficient corporate governance is able to control and reduce a company’s agency problem. Evidence reveals that the effectiveness of the director’s board/ownership structure and audit quality have the most influence on audit risk before than after the 2011 revolution, although governance mechanisms should play a more active role in encouraging companies to be more transparent in the post-revolution period. Moreover these findings are confirmed when identifying a composite measure of corporate governance.

Significant implications are provided for analysts, investors, regulators and academics. First, findings can help Tunisian regulators determine corporate governance disclosure requirements. Second, this research will make investors and stakeholders aware of the fact that minimizing auditor risk will be effective in reducing agency problems in emerging markets like Tunisia. Then, this work can help researchers better understand and realize the corporate governance role in the quality of audit process and financial statements and encourage them to deeply and broadly investigate this issue on other emerging markets.

This study stands for an extension of the existing research on corporate governance and audit risk. It fills a research gap in the local context. In fact, the considered data are those of the pre- and post-revolution Tunisian market, mainly in periods of instability. Although emerging markets make up the vast majority of economic activity around the world, they have received limited attention in academic research.

This chapter offers a symbolic perspective on the Egyptian Revolution. It does so by analyzing the transformation of Khaled Said, a 28-year-old Egyptian man beaten to death by police on June 6, 2010, into a key visual injustice symbol. Activists were motivated by a horrifying cell phone photograph of Said taken by his family at the morgue and uploaded on the web. Although the postmortem photograph had a powerful emotional impact in itself, the transformation of Said from local/particular incident to injustice symbol with society-wide repercussions cannot be explained by its mere availability in the public sphere. The transformation required intervention and appropriation by activists who creatively and strategically universalized the case, linking it with existing injustice frames in Egypt. This chapter analyzes this interplay between photographs, activism, and society in two steps. The first provides an analysis of the genesis of the Said symbol and identifies three levels of agency in its formation. The second step analyzes the process through which Said was infused with injustice meanings by activists. Providing the first systematic analysis of Said from a social movement perspective, the chapter draws on several data sources that are subjected to interpretive analysis: visual material available on the internet, Facebook pages, and interviews with and accounts by key activists. And it calls for more attention to photographs and symbols in the analysis of activism and points to several historical and present cases with relevance for such an approach.

The purpose of this paper is to investigate the influence of financial variables and especially profitability, loss in current year, loss in previous year, leverage and liquidity in predicting audit report qualifications (qualified audit opinion) and audit report modifications (qualified opinion or unqualified but with an explanatory paragraph).

The authors used hand-collected data from financial statements and from auditors’ general reports of 76 non-financial publicly traded companies over a period of 11 years (2005-2015). A total of 545 audit reports were analyzed.

The results of panel logistic regression reported a positive relationship between liquidity, loss in the current year, loss in the previous year and a qualified audit report. A positive relationship was found between leverage and audit report modification. Also, the findings show that the Tunisian revolution did not affect the qualification or the modification of the audit report but qualifications decreased significantly during the period of the financial crisis.

The research has practical implications and can help auditors in identifying factors motivating audit report qualification or audit report modification, mainly in periods of instability.

This study contributes to auditing research, since the authors know very little about the determinants of audit opinion in emerging and African markets. It constitutes an addition to previous knowledge about audit opinion in the context of Tunisia during two important periods: the financial crisis and revolution. This research is one of the rare studies analyzing qualifications and audit report modifications by considering both qualifications and explanatory paragraphs.

Departing from the expansionary austerity literature, this study aims at examining how fiscal consolidation affects the economic growth in Tunisia using annual data over the period 1970–2018.

To revisit the fiscal consolidation-economic growth nexus, the ambiguous empirical findings in previous literature make useful the adoption of alternative econometric techniques. The authors use an extended nonlinear autoregressive distributed lag (ARDL) cointegration approach developed by Shin et al. (2014) and the Diks and Panchenko's (2006) nonlinear Granger causality test. Furthermore, a traditional approach based on changes in cyclically-adjusted primary balance was applied to define the fiscal consolidation episodes in Tunisia.

The empirical evidence reveal that fiscal adjustment in Tunisia may hurt the economy, both in the short- and long-run, through its contractionary effect on economic growth. Another important finding concerns the unidirectional nonlinear Granger causality running from fiscal consolidation to economic growth.

Fiscal adjustment in Tunisia is found to play a prominent role in reducing public debt; but at the same time, it may be costly and not beneficial to the economy. This view corroborates with the fact that fiscal consolidation is more likely to end successfully only under specific conditions. This calls for a deeper reflection upon new insights regarding the design of fiscal adjustment in Tunisia. To reach this end, it is suggested to combine the defensive consolidation strategy with offensive components such as investment, infrastructure, education and health.

The existing economic analysis on fiscal policy-growth nexus in Tunisia has often identified fiscal consolidation through the use of the actual fiscal balance. With the goal of more accurate estimation, this study bridges the gap by using the cyclically-adjusted primary balance (CAPB) as a much suitable indicator to investigate the non-Keynesian effect of fiscal consolidation in Tunisia. This indicator eliminates the influence of cyclical fluctuations and many other fixed expenditures such as the interest paid on the public debt.

The authors examine the association between internal control quality (ICQ) and voluntary disclosure and test whether chief executive officer (CEO) duality, as a proxy for CEO structural power, moderates such a relationship in an emerging market (Egypt).

ICQ is measured using a survey of external auditors, while a content analysis approach is used to measure the level of voluntary disclosure in annual reports.

Based on a sample of 512 firm-year observations over the period of 2007–2014, the authors document that ICQ is positively and significantly associated with voluntary disclosure, suggesting that better controls improve corporate reporting policy. In addition, CEO duality moderates the association between ICQ and voluntary disclosure since this positive relationship association becomes insignificant for companies characterised by CEO duality. These results remain stable after controlling for endogeneity (self-selection problem), political instability and industry characteristics.

The findings of the study provide preliminary evidence on the association between ICQ and voluntary disclosure, and how CEO structural power may affect this association. Future empirical investigations may extend this work to cover the relationship between ICQ and other attributes of corporate transparency including earnings quality and accounting conservatism.

The findings highlight the need for Egyptian regulators to enact new rules obliging firms to communicate information about ICQ or charging auditors to report information about firm's ICQ in their reports. The results also alert policymakers about the adverse effect of combined leadership structure (CEO duality) since it mitigates the positive impact of ICQ on voluntary disclosure.

The authors contribute to internal control literature by exploring the association between ICQ and voluntary disclosure on an emergent unregulated market with respect to internal control disclosure. They also highlight how CEO duality, as a proxy for CEO power, mitigates the beneficial effect of ICQ on corporate reporting policy on the Egyptian stock exchange (EGX).

The purpose of this paper is to examine whether credit ratings issued by Fitch predict auditor’s opinion for the Tunisian financial companies. It studies the association between Fitch’s credit rating and the audit opinion.

The whole population was analyzed. It is composed of 35 banks, leasing companies and factoring companies in Tunisia. The hand-collected data over 11 years (2005–2015) were used and a multiple-ordered logistic regression was performed.

The findings show that firms with a high short-term grade, a high long-term grade or a positive outlook are more likely to receive an unqualified audit opinion. In addition, companies with a stable outlook are more likely to receive an explanatory paragraph, a qualification or a going-concern opinion.

Studies examining the relationship between credit ratings and audit opinion are rare. This piece of research adds to knowledge about the relationship between different components of agency ratings and the auditor’s opinion in a developing country. Previous studies have investigated the case of developed countries and have been interested in the only impact of the long-term credit rating. This study analyzes three components of credit rating, namely long-term credit rating, short-term credit rating and rating outlook. In addition, it sheds light on the effect of various rating grades issued by rating agencies on the audit opinion. It gives a broader view of the relationship between credit ratings and audit opinion.

The purpose of this paper is to investigate the relationship between internet use and democracy in Africa. It examines the non-linearities and causality between the two variables in the short and long run for 38 countries in Africa.

The study is empirical. It uses pooled mean group and causality tests for the sample of 38 African countries.

The panel long-run and short-run estimates show evidence of significant non-linear relationship between internet usage and democracy. While internet usage is significantly and negatively related to democracy, squared internet usage is significantly but positively related. This suggests that internet usage increases with the decrease of democracy, but after a certain level of internet usage which is the turning point, democracy starts to increase. Additionally, there is uni-directional causality from internet usage to democracy. However, a bi-directional causality exists between squared internet usage and democracy.

The empirical evidence from this study suggests that internet usage and democracy are highly interrelated to each other in Africa. The findings support that at the macro level, Africa is moving toward a new stage, where internet will lead to improved levels of democracy and digital politics.

Remarkably, the paper shows that democracy displays a quadratic relationship with internet usage. As a whole, the findings indicate a U-shaped pattern: democracy decreases with internet usage, stabilizes, and then increases. In other words, internet usage increases with the decrease of democracy, but after a certain level of internet usage which is the turning point, democracy starts to increase.

Many African Governments that have frequently imposed restrictions on internet and social media need to stop. The decline in democracy as internet usage increases may be explained by more severity of these restrictions. However, the findings support that at the macro level, Africa is moving toward a new stage, where internet will lead to improved levels of democracy and digital politics.

Contrary to previous conceptual papers, the current study empirically investigates the causality between internet and democracy in 38 African countries. The findings indicate a U-shaped pattern: democracy decreases with internet usage, stabilizes, and then increases. In other words, internet usage increases with the decrease of democracy but after a certain level of internet usage which is the turning point, democracy starts to increase.

The purpose of this paper is to asses the role of social networking sites (SNSs) in the 25 January 2011 Egyptian Revolution, also known as the “Arab Spring”.

The research methods used were an adaptive form of snowball sampling of a heterogeneous demographic group of participants in the Revolution, used to select focus groups to explore a range of relevant issues.

SNSs are shown to have played a central and pivotal role in the events known collectively as the Arab Spring. Their importance as a source of non‐governmental information and as a means of informing the external and internal community of internal events is highlighted by all participants.

The paper outlines research into contemporary events of global significance.

This paper aims to shed light on the Egyptian socio-economic and political conditions seven years post the 2011 revolution.

The authors depended on secondary data and information gathered from scholars and from domestic and international institutions as well. Additionally, the authors distributed 390 Likert-scale questionnaires among respondents to test their perceptions regarding the safety, social, political and economic conditions in Egypt seven years post the 2011 revolution.

The research findings confirmed that there was an agreement among participants that the safety conditions in Egypt improved during the past seven years post the 2011 revolution, and there was a general agreement among participants that the political conditions in Egypt became more stable lately. The economic and social cost presents a challenging status to the current decision maker.

Finally, authors came up with recommendations aiming to find solutions for certain economic and political problematic issues. The main research limitation is that the representative sample was confined only to the two main governorates in Egypt: Cairo and Giza.

Finally, the study is of a value, as it could be considered a road map to policy makers. Moreover, the findings provide a set of policies for governments to undertake tenable actions to accelerate development and economic growth.