Browsing by Author "El-Halaby, Sherif"

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BETWEEN TWO CRISES: DO ISLAMIC BANKS SUFFER?
(Universitat de Barcelona, 2022-09) Grassa, Rihab; Sarea, Adel; El-Halaby, Sherif; Damak, Anissa Naouar
This study compares the effects of the Global Financial crisis and COVID-19 pandemic on the Islamic banking sector in the Gulf Cooperation Council (GCC). Using a sample of 32 Islamic banks observed over the period 2006 to 2020, the paper reveals that the two events have different effects on the Islamic banking sector. Overall, Islamic banks are not as profitable and resilient in the COVID-19 pandemic as in the global financial crisis. However, Islamic banks in GCC countries has gained experience and become more efficient and stable over time. The policy implication of this study supports digitalization and the increased prominence of financial technology (Fintech). In addition, monetary authorities in the GCC have to introduce innovative products to help the Islamic banking sector to be more resilient to such crises.
BETWEEN TWO CRISES: DO ISLAMIC BANKS SUFFER?
(Springer, 2022-05) Grassa, Rihab; Sarea, Adel; El-Halaby, Sherif; Damak, Anissa Naouar
This study compares the effects of the Global Financial crisis and COVID-19 pandemic on the Islamic banking sector in the Gulf Cooperation Council (GCC). Using a sample of 32 Islamic banks observed over the period 2006 to 2020, the paper reveals that the two events have different effects on the Islamic banking sector. Overall, Islamic banks are not as profitable and resilient in the COVID-19 pandemic as in the global financial crisis. However, Islamic banks in GCC countries has gained experience and become more efficient and stable over time. The policy implication of this study supports digitalization and the increased prominence of financial technology (Fintech). In addition, monetary authorities in the GCC have to introduce innovative products to help the Islamic banking sector to be more resilient to such crises.
Board governance and audit report lag in the light of big data adoption: the case of Egypt
(Emerald Group Publishing Ltd., 2022-11) Sabera, Ahmed, Hussein Mohsen; El-Halaby, Sherif; Albitar, Khaldoon
Purpose: This paper aims to examine the mediating role of big data adoption (BDA) on the association between board governance (BG) and audit report lag (ARL). Design/methodology/approach: This study uses data extracted from financial reports for a sample from EGX100 over the period from 2015 to 2019. This study applies content analysis approach to measure the level of BDA. This study uses ordinary least squares, structure equation modelling and principal component analysis to investigate the relationship between BG, BDA and ARL. Findings: The findings indicate that BDA can be used as a predictor of ARL for companies listed on the Egyptian stock exchange. The results show that board diversity has a significant effect on ARL when BDA is used as a mediator. Research limitations/implications: This study only includes technology, telecommunications and health-care industries in the sample. Practical implications: This paper raises investor and stakeholder awareness for the importance of BDA and corporate governance (CG) procedures in reducing audit report delays in developing countries such as Egypt. This study can assist regulators in developing audit report requirements and enforcing regulations to guarantee timely audit report publication. Originality/value: This paper provides a shred of unique evidence on the role of BDA in mediating the relationship between BG and ARL in a developing country. © 2022, Emerald Publishing Limited.
Compliance with investment account holders’ transparency and disclosure requirement: evidence from the Middle East and North Africa region
(Emerald Group Publishing Ltd., 2023-03) Boujelbene, Rahma Tahri and Mouna; Hussainey, Khaled; El-Halaby, Sherif
Purpose – The purpose of this paper is to construct an investment account holders’ transparency and disclosure (IAH-T&D) index based on the new and revised accounting standard for investment accounts of the Accounting and Auditing Organization for Islamic Financial Institutions Standards (AAOIFI) (2020). It also aims to measure and compare the compliance level with IAH-T&D over years and between countries. Design/methodology/approach – This study uses the content analysis method to analyze the content of 270 annual reports across 30 Islamic banks (IBs) in 10 Middle East and North Africa countries during the period from 2010 to 2019. Findings – This study introduces a new IAH-T&D index which consists of 27 items representing four categories: investment accounts disclosure (11 items), incentive earnings disclosure (1 item), allocations and reserve disclosure (4 items) and general requirements for disclosure (11 items). The analysis shows that the level of IAH-T&D is 51%. The level of compliance varies over the years and across countries. Originality/value – To the best of the authors’ knowledge, this is the first study that offers an original self- constructed-T&D index that could enhance future research related to determinants and consequences of IAH- T&D practice in IBs.
Corporate Cash Holdings and National Culture: Evidence from the Middle East and North Africa Region
(MDPI, 08/10/2021) El-Halaby, Sherif; Abdelrasheed, Hosam; Hussainey, Khaled
This paper investigates to what extent cultural dimensions, based on Hofstede’s model, can clarify differences in cash holding levels. The sample includes 395 banks across 19 countries in the Middle East and North Africa region over a period of 16 years (1999–2014). The findings indicate that when uncertainty avoidance and masculinity decrease, cash holdings increase, whereas when power distance, long-term orientation, and individualism increase, the cash holdings increase correspondingly. Based on robustness analysis, the results remain unaffected even after controlling corporate and macroeconomic characteristics related to inflation, corruption, and the exchange rate system. Further analysis shows insignificant differences between Islamic and non-Islamic banks regarding the influence of culture over cash holdings. This study contributes to the literature regarding the impact of culture on corporate cash holdings based on a unique and different context, through examining this relationship in financial institutions located in the Middle East and North Africa region.
The Determinants of Capital Structure and Dividend Policy: Empirical Evidence from the Kingdom of Saudi Arabia Market
(Al-Sham Post Publishing (APP), 5/15/2018) El-Ghazaly, Mahmoud; Alzunayd, Mohammed; El-Halaby, Sherif
This paper investigates the main determinants and interrelationship of dividend policy and capital structure in emerging markets, regard to the market of the Kingdom of Saudi Arabia (KSA). The practical analysis uses two models which are Ordinary Least Square (OLS) and Logistic Regression (LR). We examine 91 listed non-financial firms in the KSA stock market (Tadawal Stock Exchange) for the period between 2012 and 2016. With regard to the determinants of capital structure, the analysis found a positive association with size, but a negative association with liquidity, tangible assets and lagged dividends. Also, other variables like profitability; firm size; dividend pay-out ratio; rate of growth opportunities; and life cycle, are empirically found to be insignificant to determine the capital structure. With regard to dividend policy, logistic analysis found a significant association between profitability, growth opportunity and lagged dividends.
Shariah board characteristics and Islamic banks’ performance: a meta-analysis
(Emerald Group Publishing Ltd., 2023-06) El-Halaby, Sherif; Khlif, Hichem
Purpose: Shariah board (SB) is a unique corporate governancemechanism in Islamic financial institutions. Over the last decade, an increasing number of studies discusses the relationship between SB and Islamic banks' (IB) performance. These researches report conflicting findings due to the heterogeneity of their samples. Therefore,the purpose of this paper is to meta-analyze the results of the previous empirical studies to assess if the differences in findings were attributable to moderating effects related either to the system of SB or the used SB variables or the variables used to identify performance. Design/methodology/approach: To examine the direct and moderating effects of SB attributes, this study uses a meta-analysis technique on a sample of 46 empirical studies, using Hunter and Schmidt’s approach followed by three exploratory moderator analyses: ROE, ROA and Tobin’ Q. Significant results are discussed. Findings: Overall, the meta-analysis findings show that there is a positive significant association between SB meetings and qualifications and IBs’ performance. In testing the moderating effects of financial performance measurement during the post-subprime crisis period, the meta-analysis findings suggest that there is a positive significant association between SB characteristics (size, qualification, reputation, interlock and expertise) and performance. The meta-analysis findings stress the importance of several SB attributes in improving IBs’ performance, especially, during the economic recovery period. Originality/value: This paper adds significance to the extant Islamic finance literature as well as assists the appropriate stakeholders in assessing the determinants of IBs’ performance from Shariah governance perspective. It further aims to reconcile the findings of the previous studies around the world. Moreover, the findings help future research to build a comprehensive Shariah governance index for IBs. © 2023, Emerald Publishing Limited.
Understanding the link between customer feedback metrics and firm performance
(Elsevier Ltd., 2023-03) Agag, Gomaa; Durrani, Baseer Ali; Shehawy, Yasser Moustafa; Alharthi, Majed; Alamoudi, Hawazen; El-Halaby, Sherif; Hassanein, Ahmed; Abdelmoety, Ziad H.
Practitioners utilise customer feedback metrics (CFM’s) to monitor business performance. However, the influence of CFM’s on firm performance has been ignored. Thus, this paper aims to examine the effects of CFM’s on firm performance. Our study collected data about CFM’s, marketing efforts, and financial performance over the period 2005–2020 from American Customer Satisfaction Index. The present study used a multiple regression panel analysis to investigate the influence of different CFMs (i.e., SAT, Top-2-Box, NPS proportion, NPS value, and CES) on firm performance (i.e., gross margin, sales growth, and Tobin’s Q), moderating by operating environment factors (i.e., munificence, power, and dynamism). Our results revealed that Top-2-box is the best predictor CFM’s to compare firms in online booking, hotels, and online shopping industries, while consumer satisfaction is the best predictor for electronic and fixed telecom industries. CES is the best CFM’s to compare companies in res- taurants industries. Moreover, NPS is the best metric to compare different companies in holiday parks industries. The results provide considerable managerial implications for effective use of resources regarding investing in most suitable CFM’s to enhance firm performance.