77 research outputs found
Board characteristics and asymmetric cost behavior: evidence from Egypt
No full textPurposeThis paper aims to provide further evidence on asymmetric cost behavior (cost stickiness) from one of the emerging economies, Egypt. The study provides empirical evidence on the potential impact of corporate governance on nature and extent of asymmetric cost behavior.Design/methodology/approachThe study estimates three multiple regression models using ordinary least squares to examine the behavior of cost of goods sold (COGS) and the influence of board characteristics and other control variables in a sample of 80 listed companies during 2008-2013.FindingsThe analysis provides evidence on COGS asymmetric behavior, where the analysis finds that COGS increases by 1.05 per cent but decrease by 0.85 per cent for an equivalent activity change of 1 per cent, which contradicts the traditional cost model assumption that costs behave linearly. In addition, the analysis finds that firm-year observations with larger boards, role duality and higher non-executives ratio exhibit greater cost asymmetry than others, while firms-years with successive sales decrease, higher economic growth and institutional ownership found to exhibit lower cost stickiness.Originality/valueThis study contributes by providing evidence on asymmetric cost behavior from one of emerging economies. Further, the study extends the very few studies on the relationship between corporate governance and asymmetric cost behavior. In addition, the study contributes by examining a different cost type (COGS) that has been examined by very few studies. Finally, the study provides an evaluation of the 2007 Egyptian Corporate Governance Code in the cost behavior context.</jats:sec
Are bank risk disclosures informative? Evidence from debt markets
No full textThis study examines whether financial reporting with a specific focus on risk disclosures have a predictive (informative) effect on banks’ credit ratings (BCRs) and, consequently, ascertains whether governance structures can moderate such an association. Using one of the largest bank-level datasets collected from 12 Middle East and North African (MENA) countries over the 2006-2013 period to-date, our findings are as follows. First, we find that risk disclosures have a predictive effect on BCRs. Second, we find that the relationship between risk disclosures and BCRs is contingent on the quality of governance structures. Specifically, we find that the informativeness of risk disclosures on BCRs is higher in banks with larger board size, greater independence, higher government ownership, and better Shariah supervisory board, but lower in banks with greater block ownership, higher foreign ownership and the presence of CEO duality. The central tenor of our findings remains unchanged after controlling for a number of firm- and country-level factors, alternative risk disclosure measures, firm- and national-level governance proxies, different types of banks, and potential endogeneities. The findings have important implications for investors, especially bondholders, standard-setters, regulators, and central governments
Linguistic identity in Palestine between the danger of loss and the inevitability of survival
No full textThis research deals with the identity and future of the Arabic language in the occupied Palestinian territories, which are between the rock and the anvil. It is subjected to fighting on the one hand, and an attempt to replace it with the Hebrew language on the other hand, in light of Zionist oppression that aims to establish the most important pillars of its settlement project, which is the prelude to replacing the Hebrew language with the Arabic language as a first step to Judaizing the entire region. It is imperative that we know the history of these malicious attempts to Judaize the language, and indeed the region, as well as the desperate resistance of the Arabic language and its people in the blessed land, and that the syndrome of conflict between the two sides extends over long periods of time. And behind them is a group of believers in the issues of the Arabic language. This research comes to draw attention to the inevitability of preserving the Arabic language, which guarantees the preservation of the Palestinian existence, and to find out the linguistic history of the Hebrew language, and to present a close picture of the Palestinian linguistic reality and the fierce Zionist attacks on it and an attempt to cross it, which represents a cycle of the Israeli conflict to erase the Arab and Islamic identity Blessed Palestine. Using the integrative approach
The concept of corporate risk : perspectives of risk disclosure’s users and preparers
No full textThe concept of risk has evolved from a pre-modern understanding, where it was viewed solely asuncertainty with negative outcomes, to a modern perspective that encompasses both negative and positiveoutcomes. Despite ongoing debates in the literature, there is no universally accepted definition of risk.Drawing on Saussure’s linguistic theory and Wittgenstein’s (2005. Philosophische Untersuchungen(Philosophical investigations). In S. T. Wissenschaft (Ed.), Tractatus logico-philosophicus. Tagebucer1914–1916. Philosophische Untersuchungen (Tractatus logico-philosophicus. Diaries 1914–1916.Philosophical investigations), (18th ed.). Suhrkamp) philosophy, this study examines how specific groupswithin the community perceive risk and the potential reasons behind differing interpretations. Using a casestudy approach, the research focuses on practitioners with an interest in a UK bank (Bank A). Interviewswere conducted with risk reporting analysts, regulators, investors, and managers at Bank A. The findingssuggest that definitions of corporate risk are shaped by the practices and procedures specific to each groupdirectly affected, rather than a unified understanding. It is crucial, therefore, to evaluate and incorporatethese differing perspectives during the implementation of accounting regulations. While all participantsdescribed risk as the uncertainties associated with both expected and unexpected events, their viewsdiverged on the effects and implications of these events, which could result in either positive or negativeoutcomes. Thus, risk transcends both pre-modern and modern views and cannot be fully understood withoutconsidering the conceptual meanings and subjective judgments of those directly involved
Artificial and real income smoothing around corporate governance reforms: further evidence from Egypt
No full textPurpose-We examine whether managers switch from artificial income smoothing using discretionary accruals to real income smoothing around corporate governance reform in Egypt. Design/methodology/approach-Our sample comprises 61 non-financial companies listed on the Egyptian Stock Exchange for the years 2004-2011. We use discretionary accruals as a proxy for artificial income smoothing and income/loss from asset sales as a proxy for real income smoothing. Findings-We add to the literature in three crucial respects. First, we show that corporate governance reform did not mitigate real income smoothing. Second, we show that managers did not smooth earnings using discretionary accruals during the period of corporate governance reform. Third, we show that real income smoothing and discretionary accruals are not substitutes. Originality/value-We offer a significant contribution to accounting literature by providing new empirical evidence on the trade-off between real smoothing technique (e.g., income/loss from asset sales) and discretionary accruals around governance reform in a developing country
Cost stickiness: A systematic literature review of 27 years of research and a future research agenda
No full textRecent research has found that the cost response to an equivalent activity change is asymmetric. This study systematically reviews 80 research articles published in 36 journals during the last 27 years (1994–2020). Through three reviews, the study synthesizes, appraises, and extends knowledge on cost stickiness by covering prior studies’ themes, historical development, research impact, theories employed, research country, costs examined, and models used to capture cost stickiness. Despite the evidence on cost stickiness drivers, this study highlights several unexplored determinants that require further research, including culture, idle capacity management, business risks, auditor type, lobbying intensity, and CEO demographic characteristics. As the consequences of cost stickiness are largely unexplored, we call for more research examining its implications at the macro-economic level and for ubiquitous accounting techniques such as CVP analysis, pricing decisions, and cost estimation. Although prior studies have focused on non-financial companies and developed economies, examining cost stickiness in financial firms and developing economies could enrich the literature. As studies are either descriptive or rely primarily on a single theoretical perspective such as the agency and cost asymmetry theories, we call for research that adopts a multi-theoretical framework. Overall, the study discusses several research streams, identifies several literature gaps, and outlines a promising and detailed future research agenda
الإعجاز العلمي واللغوي في حديث القرآن عن بعض الحشرات
No full textلقد اشتد الجدل - ومازال- حول اإلعجاز العلمي في القرآن الكريم، فهذه
القضية بين مؤيد ومعارض، وهناك من العلماء من يؤيد هذه القضية - قضية
اإلعجاز العلمي في القرآن الكريم- إلى حِّد المبالغة والشطط، وهناك من العلماء
من يعارض هذه الفكرة حتى وصل إلى حِّد العداء، ومن العلماء صنف ثالث آثر
أن يكون بين هؤالء وأولئك قوا ا بال إفراط وال تفريط
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