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This study examines the mediating effect of energy management on corporate technological integration and energy‐efficiency innovation nexus. Using data from 1345 Egyptian Structural Equation Modeling (SEM) from 2018 to 2020, we employed Baron and Kenny's approach, SEM, and bootstrapping tests for robustness. Our findings reveal the following: (1) Energy management, at various managerial levels partially, mediates the communication technologies' effect on energy‐efficiency innovation. (2) Websites, as an information and communication technology tool, help to improve the stakeholders' reciprocity and enhance the corporate reputation. (3) Foreign technological licensing, as a source of external knowledge acquisition, shows a nonsignificant effect on innovation, indicating that imported technologies do not enhance knowledge sharing or green innovation. These insights underscore the importance of websites in driving energy management, which subsequently boosts energy‐efficiency innovation. Thus, it encourages Egyptian small and medium enterprises to leverage technological tools for environmental aims. [ABSTRACT FROM AUTHOR]

The purpose of this study is to evaluate the selectivity and timing performance and persistence in active Saudi mutual funds through a comparative work involving 100 Islamic funds against 51 conventional funds trading in Saudi TADAWUL stock Exchange from 2010 to 2015. We have split each group based on 6 regional investment categories: Local, International, Arab, Asian, European and American (US). Modified versions of Treynor and Mazuy (1966) (T&M) and Henriksson and Merton (1981) (H&M) were employed to assess selectivity and timing performance. Parametric cross-sectional regression, and non parametric CPR and Chi-Square tests were used to investigate the skills' performance persistence. Findings indicated superior selectivity with Arab Islamic funds compared to conventional peers and similar negative selectivity in both Islamic and conventional International funds. In addition, there was evidence of selectivity with US conventional funds, and none with Islamic peers. Furthermore, results showed significantly higher timing with local and Arab conventional funds compared to their respective Islamic peers. As for the performance persistence, there were signs of selectivity and timing persistence for both Islamic and conventional funds, mostly on local, International and Arab levels. Nevertheless, Islamic funds' performance persistence in both skills was longer. Finally, both Islamic and conventional selectivity and timing were negatively correlated overall, indicating skills' mutual exclusiveness and specialization. We recommend to study a larger sample, for a longer period. Different grouping can also be applied, based on asset classes, i.e. Equity, Bond, Balanced, Income, etc. The study can even extend to a multi-market or multi regional investigation i.e. MENA region. applied, based on asset classes, i.e. Equity, Bond, Balanced, Income, etc. The study can even extend to a multi-market or multi regional investigation i.e. MENA region. [ABSTRACT FROM AUTHOR]

The main aim of the current paper is to analyse how the directors' characteristics could influence innovation. We study specifically the effect of demographic attributes, such as age, gender, nationality, educational degree and academic background on innovation. Innovation is measured by (1) the firm's ability to engender innovation in things such as new or improved product/process and the number of patents and (2) innovation expenditures, like, for example, R&D spending on innovative projects and the number of scientists and experts per R&D teams. This study is conducted on the firms listed on SBF120 index between 2002 and 2013. The SBF120 index consists of the 120 largest capitalisations listed on the French Stock Exchange market (SBF: Société des Bourses Françaises). It provides the following results. First, the presence of women on the board positively influences product innovations while the presence of independent directors fosters the number of patents and process innovations. Secondly, highly educated directors can better understand complex decisions and absorb new ideas and technologies, which increase innovative products. Regarding the academic degree, we highlight that business educated directors seem to marginalise innovation investments as they are more likely to focus on activities with short-term financial returns. Then, directors of different ethnic, cultural backgrounds and different nationalities seem to stimulate a firm to improve or develop new products. Moreover, older directors are less risk-tolerant than younger ones: they invest less in risky R&D investments. By looking at the impact of various types of directors' characteristics on innovation, and by taking into account various types of innovation; this paper brings practical insights to board structures issues. This paper contributes to the debate on the urgent need to increase the firms' capacity to appoint on board individuals displaying diverse types of knowledge, abilities, skills and networking that could drive more innovations. [ABSTRACT FROM AUTHOR]

Cet article vise a examiner l'importance du role de controle exerce par l'audit externe sur la fiabilite des etats financiers dans les entreprises tunisiennes cotees. Plus precisement, nous etudions l'impact de la qualite de l'auditeur externe sur la qualite du resultat comptable. Nous avons choisi la qualite des accruals et la pertinence comme mesure de la qualite du resultat comptable. A partir d'un echantillon de 108 observations sur la periode 2000-2005, nos resultats confirment l'hypothese selon la quelle les << BIG >> et le secteur de specialisation de l'auditeur ameliore la qualite du resultat comptable. Les resultats montrent aussi l'existence d'une association significativement positive entre la duree de la relation d'audit et la qualite du resultat comptable. The purpose of this paper is to examine the impact of the control exerted by the external audit on the reliability of the financial statements in Tunisian-listed firms. More specifically, we study the quality of the external audit on the accounting earnings quality. We choose the accruals quality and the value relevance like measures of accounting earnings quality. Results based on a sample of 108 firms over the period 2000-2005 suggest that the 'BIG' and the sector of specialization of the auditor improve the quality of the accounting earnings. We find also a statistically significant positive relationship between the auditor industry specialist tenure and the earnings quality., Impact of the external audit on the earning quality: Case of Tunisian firms Introduction En tant que mecanisme de gouvernance, l'audit externe a pour principal objectif de garantir la fiabilite [...]

Using Riyad Capital mutual funds as a proxy for Saudi Arabian mutual funds, this paper empirically compares the risk-adjusted performance and investment style of Islamic mutual funds with that of conventional funds in the wake of the recent global financial crisis of 2009-2014. Absolute and relative risk-adjusted measures with single factor (Jensen) and multifactor (Carhart) models are applied. Our findings suggest that Islamic funds outperformed conventional funds domestically, given similar risk exposure, and produced comparable results under lower market risk globally. The results show that Islamic funds are a relatively big cap from the strong statistical significance registered on the global side as evidenced by the difference portfolio outcomes. In addition, the difference portfolios provide statistical evidence that Islamic funds are more value-oriented compared to conventional funds on both fronts. Furthermore, Islamic funds tend to slightly favour a contrarian trading investment strategy as suggested by statistically significant local portfolio value and global difference portfolios results. The results of home bias test show stronger ties by local Islamic funds to local market relative to the global proxy suggesting that domestic investors and managers favour Islamic funds over conventional funds, thus confirming a local preference for Shari'ah-compliant investments. [ABSTRACT FROM AUTHOR]