Contemporary Research in Accounting and Finance: Case Studies from the MENA Region

Preface
Contents
Editors and Contributors
About the Editors
List of Contributors
List of Figures
List of Tables
Efficiency and Market Power in Tunisian Banking
	1 Introduction
	2 Literature Review
		2.1 Bank Efficiency
		2.2 Competition-Efficiency Nexus: The Quiet Life Hypothesis
	3 Methodology and Hypotheses Development
		3.1 Estimation of Bank Cost Efficiency
		3.2 Measuring Competition: Learner Index of Market Power
		3.3 Econometric Model
		3.4 Data Description
	4 Empirical Results
		4.1 Estimation Results for Bank Efficiency and Lerner Index of Market Power
		4.2 The Estimation Results for the Market Power-Efficiency Nexus
		4.3 The Estimation Results for the Impact of Market Power, Market Share and Size for State Banks
		4.4 The Estimation Results for the Impact of Market Power, Market Share and Size for Foreign Banks
		4.5 The Estimation Results for the Impact of Market Power, Market Share and Size for Mixed Banks
		4.6 The Estimation Results for the Impact of Market Power, Market Share and Size for Private Banks
	5 Discussions and Conclusion
	References
Board Gender Diversity and CSR Disclosure: The Case of Tunisian Listed Banks
	1 Introduction
	2 Conceptual and Theoretical Frameworks
		2.1 Conceptual Framework
		2.2 Theoretical Framework
	3 Literature Review and Research Hypothesis
	4 Research Methodology
		4.1 Presentation of the Sample and Data Sources
		4.2 Definitions and Measurement of Variables
		4.3 The Empirical Model
	5 Empirical Results and Discussion
		5.1 Results of the Content Analysis
		5.2 Results of the Descriptive Analyses
		5.3 Results of the Multivariate Analyses
	6 Conclusion
	References
Negative Earnings and the Cost of Debt: Evidence from the Emerging Tunisian Market
	1 Introduction
	2 Literature Review and Hypotheses Development
	3 Research Design
		3.1 Model Specification
		3.2 Sample Selection and Descriptive Statistics
	4 Empirical Results and Discussion
	5 Sensitivity Analysis
		5.1 Effect of the Level of Interest Rates in year t – 1
		5.2 Effect of the Change in Net Income
	6 Conclusion
	References
Board Effectiveness, Corporate Cash Holdings, and Financial Performance Across MENA Region
	1 Introduction
	2 Theoretical Background
		2.1 Free Cash Flow Theory
		2.2 Pecking Order Theory
		2.3 Trade-Off Theory
		2.4 Agency Theory
	3 Literature Reviews and Hypotheses Development
		3.1 Board Effectiveness and FP
			3.1.1 Board Size
			3.1.2 Board Independence
			3.1.3 CEO Duality
			3.1.4 Board Gender Diversity
			3.1.5 Board Meetings
		3.2 Board Effectiveness and CH
			3.2.1 Board Size
			3.2.2 Board Independence
			3.2.3 CEO Duality
			3.2.4 Board Gender Diversity
			3.2.5 BOD Meetings
		3.3 Cash Holdings and Financial Performance
	4 Sample, Research Models, and Variables
		4.1 Sample
		4.2 Research Models
		4.3 Dependent Variables
		4.4 Model Specification and Control Variables
	5 Empirical Results and Discussion
		5.1 Descriptive Statistics and Correlation
		5.2 Regression Analysis
			5.2.1 Impact of Board Size over CH and FP
			5.2.2 Impact of CEO Duality over CH and FP
			5.2.3 Impact of Board Independence on CH and FP
			5.2.4 Impact of Board Meetings over CH and FP
			5.2.5 Impact of Board Gender Diversity over CH and FP
			5.2.6 Impact of CH on FP
	6 Concluding Remarks
	References
Credit Control for Accounts Receivable Management: A Case Study of a Pharmaceutical Company
	1 Introduction
	2 Literature Review
	3 Methodology
	4 Results
	5 Conclusion
	References
The Financial Friction and Optimal Monetary Policy: The Role of Interest Rate
	1 Introduction
	2 The Literature Review
	3 Model Presentation and Methodology
		3.1 Households
		3.2 Entrepreneurs
		3.3 Capital Producer
		3.4 Banking Sector and Credit Market Equilibrium
		3.5 Retailers
		3.6 The Process of “Boom-Bust”
		3.7 Central Bank
		3.8 Transmission Mechanisms
	4 Calibration
	5 The Dynamic Result of the Tunisian Economic Cycle
		5.1 Implicit Volatility and Autocorrelation
		5.2 Correlation Matrix
	6 Findings
		6.1 The Dynamic of Macroeconomic and Financial Fundamentals Under the Baseline Monetary Policy
		6.2 Financial Shock and Augmented Taylor Rule
	7 Conclusion
	References
Masdar Sustainable Company and the Global Reporting Initiative Standards 2016: A Case Study from the United Arab Emirates
	1 Introduction
	2 Corporate Social Responsibility in the UAE: Theoretical Background and Empirical Evidence
		2.1 Theoretical Background
		2.2 Empirical Evidence
	3 Research Methodology 
		3.1 Company Profile 
		3.2 Period Under Study and Data Collection
		3.3 Research Methodology
	4 Discussion of the Results
		4.1 Analysis of the Universal Disclosures Standards (GRI 100) Results
		4.2 Analysis of Economic Disclosures Standards (GRI 200) Results
		4.3 Analysis of Environmental Disclosure Standards (GRI 300) Results
	5 Conclusion
	Appendix A: Full Global Reporting Initiative Standards
	Appendix B: Masdar Company GRI Sample Disclosures
	References
Managing the Risks of Investment Deposit Account in Islamic Banks: An Examination of Mudharaba Contract Between MENA and International Markets
	1 Introduction
	2 Literature Review and Hypothesis Development
		2.1 Literature Review
		2.2 Hypothesis Development
	3 Methodology
		3.1 Sample
		3.2 Variables Measurement
			3.2.1 Measurement of Dependent Variable
			3.2.2 Measurement of Independent Variables
	4 Results and Discussion
		4.1 Descriptive Statistics
		4.2 Cross-Correlation Matrix and Test Variance Inflation Factor
		4.3 Discussion and Policy Implications
	5 Conclusion
	References
Customers’ Preference and Selection of Takaful Insurance Products: The UAE Case
	1 Introduction
	2 Literature Review of Takaful Insurance Products
		2.1 Takaful History
		2.2 The Differences Between Takaful and Conventional Insurance
		2.3 Factors Influencing Customers Selection of Takaful Products
	3 Research Model and Factors Definition
		3.1 Social Impact
		3.2 Uncertainty
		3.3 Perceived Compatibility
		3.4 Relative Advantage
		3.5 Customers Awareness of Takaful Services
	4 Methodology
		4.1 Research Design
		4.2 Data Collection and Analysis
	5 Findings
		5.1 Quantitative Results
			5.1.1 Respondents Profile
			5.1.2 Regression Analysis
			5.1.3 T-test Analysis
		5.2 Qualitative Findings
			5.2.1 Performance Between Takaful and Conventional Insurance Firms
			5.2.2 Competitiveness of Takaful Companies Versus the Insurance Companies
			5.2.3 Issues Faced by Takaful Companies that Are Preventing Them from Optimal Performance
	6 Conclusion and Recommendations
	References
Customers’ Acceptance of E-banking During the COVID-19 Pandemic: The Case of Oman
	1 Introduction
	2 Literature Review
		2.1 Theoretical Model
			2.1.1 The Theory of Reasoned Action
			2.1.2 The Theory of Planned Behaviour
			2.1.3 The Technology Acceptance Model
			2.1.4 The Innovations Diffusion Theory
		2.2 Empirical Studies
	3 Method
	4 Findings
	5 Discussion and Conclusion
	References
Blockchain in Dubai: Toward a Sustainable Digital Future
	1 Introduction
	2 Blockchain Technology
	3 Comparing the Different Types of Blockchains
	4 Blockchain Strategy in Dubai
	5 Blockchain Implementation
	6 Blockchain as a Vital Tool to Boost Sustainability: Case Studies from the Emirates
		6.1 Can Blockchain Prevent Corruption? Case of UAE Trade Connect (UTC)
		6.2 How Blockchain Is Applied to Crowdfunding Platforms? Case of Ideology and Smart Crowd in Dubai
		6.3 Supply Chain Management: Case of DP World
		6.4 Health Care Management
		6.5 Blockchain-Powered Autonomous Taxis: For a Sustainable Transportation Planning
	7 Conclusion
	References
Feasibility and Exploratory Study of Implementing the Blockchain Technology in the UAE Financial Markets
	1 Introduction
	2 Literature Review
		2.1 Opportunities in the Financial Markets
		2.2 Applications in the Stock Markets: Use Cases
	3 Potential Impacts on Investment and Securities Industry
		3.1 Impacts Related to the Main Characteristics of Blockchain
		3.2 Trading, Clearing, and Settlement Trade Procedure Through DLT
		3.3 Transparency and Market Efficiency
	4 Weaknesses and Limitations
	5 Research Methodology
		5.1 Model
		5.2 Research Design
		5.3 Sampling Method
	6 Data Analysis
		6.1 Barriers and Challenges of Implementing
		6.2 Potential Impacts on Trading and Clearance
		6.3 Technical Challenges
		6.4 Blockchain Limitations and Risks
	7 Conclusion
	References
Would Blockchain Disrupt the Accounting and Auditing Professions? An Exploratory Study in the UAE
	1 Introduction
	2 Literature Review
	3 Methodology
	4 Discussion of the Findings
		4.1 The Purpose of Blockchain Technology
		4.2 Blockchain Effect on Accounting and Auditing Methods
		4.3 Advantages of Blockchain Auditing When Compared to the Auditing of Companies’ Financial Statements
		4.4 Software to Audit Blockchain
			4.4.1 Software for Auditing Blockchain
			4.4.2 Track of Transactions on Blockchain
			4.4.3 Blockchain’s Effect on Accounting/Auditing Daily Operations
			4.4.4 Evidences and Blockchain Software
			4.4.5 Authenticity of Transaction Recorded
			4.4.6 Mistakes During Recording
			4.4.7 Manage Information
	5 Conclusion
	References
Opportunities and Challenges Facing SMEs’ Access to Financing in the UAE: An Analytical Study
	1 Introduction
	2 Financing Options for SMEs in the UAE: Reality and Challenges
		2.1 Government Policies to Support SMEs
		2.2 Major UAE Policy Responses to COVID-19 Pandemic Effects on SMEs
		2.3 SME’s Public-Sector Lending
		2.4 SME’s Banks Funding
		2.5 SME’s Non-bank Funding
	3 Policy Implications and Recommendations
		3.1 Enhancing SMEs Access to Existing Financing Instruments
			3.1.1 Referral Scheme
			3.1.2 Education and Awareness to Successfully Attract Finance
			3.1.3 SMEs Credit Rating
			3.1.4 Implementation of a Normalized SMEs’ Accounting System
			3.1.5 Insolvency Regulation
		3.2 Alternative Financing Instruments for SMEs
			3.2.1 Asset-Based Finance Instruments
			3.2.2 SMEs Fund Raising Through Capital Market
			3.2.3 Microfinance Institutions to Bridge the Credit Gap
	4 Conclusion
	References
Index