Browsing by Author "Abdelmoniem, Zakia"

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RISK MANAGEMENT AND DISCLOSURE AND THEIR IMPACT ON FIRM VALUE: THE CASE OF EGYPT.
(EBSCOhost, 03/01/2015) Hassan Abdel-Azim, Mohamed; Abdelmoniem, Zakia
This study investigates the impact of risk management and disclosure on firm value. The study aims at investigating three relationships; the first is the relationship between risk management and firm value. The second is the relationship between corporate voluntary disclosure and systematic (market/beta) risk. The third is the relationship between voluntary disclosure and firm value. The study population consists of non-financial companies listed on the Egyptian Stock Exchange (EGX) at the year-end of 2012. For testing the first relationship; the logistic model developed by Wang, Li, and, Z. (2010) is used, and Tobin's Q ratio is used for calculating firm value. The logistic model developed by Hassan, Gianluigi, and Power (2011) is followed in measuring the second relationship. The Capital Asset Pricing Model (CAPM) Model is used for calculating Beta for systematic market risk, and the voluntary disclosure is measured using the disclosure index technique including 26 financial and non-financial items. The third relationship is tested by modifying Rahmat and Hoffman (2011) model. The results indicate that a positive relationship exists between risk management and firm value, a negative relationship exists between voluntary disclosure and the market risk exposure, and a positive relationship exists between voluntary disclosure and firm value.
Stock option fraud prevention in Islamic country: does corporate governance matter?
(Emerald Group Publishing Limited, 6/28/2013) Abdelmoniem, Zakia; Ismail, Tariq H; Hasnan, Suhaily; Said, Jamaliah
This paper aims to investigate the extent to which companies in one of the Islamic culture countries, Egypt, are complying with the Islamic implementation of the Anglo‐Saxon model of corporate governance and testing the impact, if any, of such compliance on mitigating of stock option fraud incentives. Design/methodology/approach – A logistic regression model is used to examine the effects of board of directors, audit committee, ownership structure and other firm characteristics on the likelihood of stock option fraud. The analysis is based on the data for stock option grants obtained during the period from 2006 to 2009. Findings – The results suggest that the rate of compliance with the Islamic implementation of the Anglo‐Saxon model of corporate governance in Egyptian public‐held companies is low. Weak corporate governance allows executives to exercise greater influence over the board of directors …