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Does Audit Committee Substitute or Complement Other Corporate Governance Mechanisms: Evidence from an Emerging Economy
No full textPurpose
The purpose of this paper is to examine the relation between audit committee (AC) and a set of other corporate governance mechanisms in one of the emerging economies, United Arab of Emirates (UAE). In particular, the current study examines whether an effective AC can serve as a substitute or as a complement mechanism to board characteristics and ownership structure of Emirati listed non-financial companies.
Design/methodology/approach
Using substitution and complementary theories, a panel data from 48 nonfinancial companies listed on the UAE Stock Exchanges [Abu Dhabi Stock Exchange and Dubai Financial Market] during the period between 2011 and 2013 were used in the current study. A composite measure of four proxies has been used to measure the AC effectiveness, namely, AC size, independence, financial expertise and diligence. To test the hypotheses formulated for the study, a logistic regression model was used to identify the influence of a set of board characteristics and ownership structure variables on the effectiveness of the AC after controlling for firm size, auditor type, industry type and profitability.
Findings
While AC effectiveness appeared to be positively associated with board size and board independence, it is negatively associated with CEO duality. This points to a complementary governance relation. On the other hand, the negative relationship between AC effectiveness and each of institutional and government ownership suggests substitutive relations.
Research limitations/implications
The main shortcoming of the current study is that it examines the influence of a certain set of corporate governance factors on the effectiveness of AC. Other corporate governance mechanisms may, however, contribute to the effectiveness of AC. The findings of the study can be used by companies’ managements and regulators in the UAE to improve the corporate governance system.
Originality/value
To the best of researchers’ knowledge, this study provides the first evidence about the interaction among multiple governance mechanisms required by the code of corporate governance issued by the UAE Ministry of Economy in 2009. The current paper is expected to add to the limited AC literature in Middle East and North African countries in general and Arab World in particula
تأثير سلوكيات القيادة التحويلية على الإبداع في شركات تكنولوجيا المعلومات في مدينة رام الله و البيرة
No full textدراسة تحضيرية لقياس كتلة كوارك القمة الذي تم إنتاجه بإستخدام مكشاف أطلس في مسارع الهادرونات الكبير
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The novelist as a change impetus : Arab literary production and democratic transformations
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Guide interventions governmental and assessment impact regulatory
No full textجاء هذا الدليل ثمرة جهد بذله طاقم وحدة المساندة التشريعية - معهد الحقوق، بالتعاون مع المؤسسات الرسمية الشريكة، ضمن مشروع - بناء نظام مساعدة قانونية مستدام في فلسطين - والممول من الاتحاد الأوروبي من خلال برنامج سواسية المشترك بين برنامج الأمم المتحدة الإنمائي وهيئة الأمم المتحدة للمرأة، ويعد هذا الدليل الأول من نوعه إذ يسلط الضوء على الإجراءات والخطوات العملية لإجراء مراجعة شاملة للتشريعات وتحقيق الانسجام التشريعي وفقًا للواقع القانوني والعملي، بما يتضمنه من إرشادات واضحة ومحددة للفئة المستهدفة حول عدد من المسائل الخاصة بأسس مراجعة التشريعات وتحليلها.صمم هذا الدليل ليكون مرجعًا عمليًا لآليات مراجعة التشريعات في المنظومة القانونية الفلسطينية بين المؤسسات الرسمية وغير الرسمية، لتوحيد منهجيات وأسس مراجعة التشريعات وتحليلها، وتوحيد المصطلحات المستخدمة في عملية مراجعة التشريعات. كما يهدف هذا الدليل إلى مساعدة الجهات الرسمية وغير الرسمية على تحسين جودة تشريعاتها ومواءمتها مع المعايير الداخلية والدولية والممارسات الفضلى
Triaxiality softness and shape coexistence in Mo and Ru isotopes
No full textA systematic search of triaxial ground state and shape coexistence in Ru and Mo isotopes is done using the relativistic-Hartree-Bogoliubov formalism using density-dependent zero and finite range NN interactions, and with separable pairing. Shape coexistence and triaxiality softness manifest themselves in a clear manner in Mo isotopes and only triaxiality softness is very clear in all of the Ru isotopes. Both point-coupling and meson-exchange models give similar results with few exceptions. A very good agreement is found with the available experimental data and with the macro-microscopic finite range droplet model. The findings are also in good agreement with the self-consistent Hartree-Fock-Bogoliubov calculations based on the interaction Gogny-D1S force
Pilot-scale anaerobic digester for enhanced biogas production from poultry manure using a solar water heating system
No full textA pilot-scale (0.5 m3) anaerobic digester was constructed in a small Palestinian poultry farm. The farm, located in Beit Ur Al Foqa village of Ramallah district, with a total area of 140 m2 and accommodating about 1800 birds every 50 days produces annually about 6.57 tonnes (18 kg/day). The digester was filled with poultry manure and operated to obtain design parameters for a farm-scale biogas plant. The digester contained 20% of poultry manure co-digested with seed materials (70% cow manure and 10% anaerobic sludge) and mixed with the water in (1:1 ratio) to create dry digestion conditions (20% TS). Operated for one year, the feeding sequence of the anaerobic digester was once a day with a loading capacity of the daily produced manure in the farm. A low-cost solar water heating system was installed to enhance the biogas production in the digester under mesophilic process conditions. Poultry manure proved a suitable substrate for the installed biogas digester with total solids: 20%, and C:N ratio: 32:1. Total biogas production was 39.95 m3, and the methane content ranged between 46% and 68%. As substitute to natural gas, the biogas generated (788 MJ) was used for farm heating purposes during the study period. The fresh anaerobically digested slurry showed a nutrient rich fertilizer (NPK ratio of 2:3:3). Sun-drying of digested slurry increased pathogens removal (F. streptococcus) up to 3 log10. Anaerobic digestion of poultry manure constitutes a bio-resource for both energy and nutrients. It is therefore an environmentally sound technology with zero waste emissions.Faculty of Graduate Studies of Birzeit University, Palestine [grant number wesc1115099