Performance In Egypt Research Articles

Privatisation and Financial Performance in Egypt Since 1991

This study aims to empirically examine the financial and operating performance of Egyptian privatised companies. The study compares the pre- and post-privatisation financial and operating performance of 60 companies from Egypt that have experienced privatisation through different methods during the period from 1991 and 1997. There were significant increases in the mean and median levels of profitability, operating efficiency, capital investment, output and dividends for the whole sample of companies after privatisation. There were significant decreases in the mean and median of both leverage ratios and employment levels. Further analysis was also undertaken using the three different background characteristics (i.e. size of company, type of industry and privatisation methods). No significant differences were detected in the Kruskal Wallis test analysis of privatisation methods. The Wilcoxon test, the Proportion test and the Kruskal Wallis test analyses for the company size and industry type revealed some significant results. Overall, the findings do seem to support the broad benefits of the Egyptian privatisation programme and the improvements in the financial and operating performance of the privatised companies.

The Effect of Executive Compensation on Financial Performance in Egypt

The current research aims to propose a framework of the effects of Executive Compensation on Financial Performance, measuring the size of effect, the circumstances under which the effect is clearly observed and studying the weighted effect of Executive Compensation on the Performance of firms; ROA, ROE, Tobin’s Q turning out with the outcome emphasizing whether the Executive Compensation has a significant or an insignificant role. The research sample is the top listed 50 companies in the Egyptian market which are collected as secondary data from Egypt Stock Exchange. The contribution in this research arises from measuring executive compensation role in firms of Egypt. The research tackles the whole status of the firms in Egypt during the period from 2012 to 2017. Results showed that the main hypothesis of this research that, Executive Compensation on Firm Performance is partially supported.

The effect of exchange rate movements on trade balance performance in Egypt: Is there a J-curve phenomenon?

This study targets to test the J-curve hypothesis in Egypt. The dynamics of the bilateral trade balance with Egypt’s main eight trading partners is investigated. The findings of the paper investigate that the J-curve hypothesis does not hold in case of Egypt, especially in the long-term. This is consistent with most of the previous studies tested the same hypothesis in developing countries. The conclusion to policy makers can be presented in two main points. First, the negative impact of the depreciation of the pound against the US dollar was confirmed in the short term. This requires action to mitigate these effects, especially for the poor. Second, it is not possible to rely only on devaluing the Egyptian pound to improve the long-term balance of trade; both of domestic production and export development policies should be developed to help improve the balance of trade as a result of the devaluation of the pound. The effect of exchange rate movements on trade balance performance in Egypt: Is there a J-curve phenomenon?

Assessing Egyptian construction projects performance using principal component analysis

Purpose The construction sector is a major contributor to the Egyptian economy and gross domestic products, plus considered as one of its fastest-growing sectors. Various deficiencies such as low productivity, delays, cost overrun, poor quality, etc. have plagued the construction sector, leading to undesirable project performance across Egypt and several other countries. One of the best methods to measure and improve performance evaluation and consequently a step toward industry improvement is key performance indicators (KPIs). The paper aims to discuss this issue. Design/methodology/approach A questionnaire survey was conducted to identify the importance index for 35 KPIs. The KPIs were identified and selected based on an extensive literature review and one on one interview with expert construction professionals. Moreover, exploratory factor analysis method has been used to analyze and determine the inter-relationships between the set of indicators. Findings Seven indicators that have the highest importance indicator were selected to create project overall performance indicator assessment models to consistently measure the performance of different construction projects. Seven equations are introduced reflecting the output of the research while considering both organization size and project type. Practical implications The proposed evaluation assessment models can be used to: evaluate the relative success of projects; indicate the areas of strengths and weaknesses in performance and establish company benchmarking. Three projects were selected to validate the performance evaluation models. Originality/value This paper provides mathematical assessment models for evaluating overall construction project performance in Egypt, taking into consideration organization size and project type. Previously published research works on the subject matter are quite limited, and frequently deal with only one or two selected aspects.

EVALUATION OF PILOT PROJECTS IN THE MINISTRY OF STATE FOR ENVIRONMENTAL AFFAIRS AND ITS RELATIONSHIP TO SUSTAINABLE DEVELOPMENT IN EGYPT GOAL 12: ENSURE QUALITY AND SUSTAINABLE CONSUMPTION AND PRODUCTION PATTERNS

The aim of the study is to identify the successful models for the sustainability of internationally funded pilot projects and to achieve their objectives in the industrial pollution control project Phase II, The extent of the legal obligation of the establishment to environmental legislation and the setting of environmental objectives as a general framework for the activity of industrial enterprises, As well as studying the impact of the concepts of environmental economics (green) as a main input to achieve sustainable development among those concerned with industry in Egypt. The descriptive syllabus was utilized thanks to its dependence on describing the phenomenon and extracting the results through gathering the statements and information necessary for research. Data were gathered from the Ministry of State for Environmental Affairs, reports of donor countries and state of the environment reports issued by the Ministry of State for Environmental Affairs About Egyptian Pollution Abatement Project (EPAP) between 2007 and 2015. (Case Study of Industrial Pollution Control (End of Tube) (Air) Project for a number of cement production projects and a number of brick production factories in Arab Abu Sa'ed area and rehabilitation of phosphoric plant Abu Zaabal Fertilizer and Chemical Factory). The results have resulted in the adjustment of the environmental conditions of the industrial enterprises and the support of the cleaner production projects. These environmental projects contribute to reducing the use of raw materials and reducing the resulting waste, thereby reducing the cost of production, thus achieving the economic and environmental dimensions and their commitment to the social dimension of the workers inside and outside the plant. In highly polluted areas and thus improve the conditions of the local environment by encouraging private sector companies and the public sector to invest in the field of pollution control and support the applications of appropriate binding methods and inspection activities to Knapp technical capacity development within environmental institutions and the participating banks and to improve environmental awareness and performance in Egypt with a focus on the Greater Cairo and Alexandria and the strengthening of the special commitment to environmental protection law 4 of 1994, as amended, environmental authorities capabilities. But the information collected by the researcher indicates that many of these projects will be affected by the absence of international funding for the inability of companies alone or the insufficient budget allocated by the State to reduce pollution, which will be clear from the implementation of the plan of this study. The researchers recommended the activation of the law of environmental protection 4 of 1994 and its amendments to sustain the results of the pilot projects through the support of the environmental inspection of the EEAA with a number of human cadres while providing the potential to increase the inspection rates on the industrial zones to maintain the sustainability of the industrial pollution control project, Green economy and cleaner production mechanism in Egyptian industry, also an alternative to foreign grants and loans should be found in financing environmental projects and providing technical and institutional support and maintaining their sustainability through the establishment of a national fund for financing environmental projects. It should establish national banks, the Ministry of State for Environmental Affairs, the Ministry of Finance, Export Development Fund), Ministry of Investment, Social Fund for Development, provided that projects are financed with interest determined by the Central Bank of Egypt.

Women on Boards And Firm Performance In Egypt: Post The Arab Spring

Despite the achievements gained towards increased gender diversity in corporations, the issue is far from being settled. Today, the pursuit for increased gender diversity extends to tackle who should sit on the board of directors. In fact, this debate is not country specific. There has been an increasing debate about policy mandating women participation on boards (WOB) worldwide. And the recent period has witnessed growing research examining the impact of female board membership on firm value, but the evidence remains inconclusive. In a market whereby women's presence in top positions remains lesser socially acceptable, the importance of investigating the impact of such policy mandates is even greater. Egypt is unique context to investigate, because despite its institutional barriers to women roles, it is on the verge of change post the aftermath of the "Arab Spring". Using a unique dataset, we investigate the impact of women board diversity on firm performance on a sample of 114 Egyptian firms, which represent active Egyptian non-financial publicly listed firms with data available for the year 2013. After accounting for firm size, board size, industry, and CEO duality, our findings reveal a positive significant association between percentage of women on board (WOB) members and firm value (ROE). For robustness, we also use Tobin Q as an alternative measure. We find this direct effect to be positively moderated by industry (service sector). The results highlights the positive impact of female board membership on firm value as measured by ROE and Tobin Q, despite social barriers to female leaders, indicating a positive direction to the perceived legitimacy of increased WOB at a unique time in Egypt's history. The paper provides implications for management policies to prepare more females for senior roles and address the false preconceptions about expected market reactions to the appointment of females on boards.

Supportive Drivers of Organizational Knowledge Management: A Case Study from Egypt

The ability to manage efficiently the flow of knowledge has becoming a crucial requirement to boost the organizational learning and competitiveness along the knowledge era. However, a lack of consensus and confusion may still exist regarding what comprise the Knowledge Management (KM) and its importance to improve the overall organizational performance in Egypt. Moreover, there is generally a lack of an observable organizational KM initiatives’ progress in Egypt. This study highlights the significance of KM and explores the key drivers that can support organizational KM initiative in Egypt which requires organizational management and human orientation in terms of setting supportive human resource management, organizational culture and organizational structure. The study also alarms the attention to the various challenges that may hinder the successful implementation of KM initiative in Egypt. Based on the case study approach, this study sheds the light on a good model of IBM Egypt as a guidance supporting the crucial significance of KM for booming innovation and organizational performance.

PUBLIC PRIVATE PARTNERSHIP PROJECTS: CONCESSIONAIRE PERFORMANCE MEASUREMENT

Purpose - Public Private Partnership (PPP) has increased in popularity and is being used extensively in the construction market. For PPP projects already completed or for those in progress, the question is how effective are these projects? Do they meet their performance requirements and are they valuable to the stakeholders? How are PPP project performances assessed? The main target of this paper to cover the necessity of study key performance indicators (KPIs) that will measure and enhance PPP performance in Egypt. Design/methodology - A questionnaire survey was conducted to prioritize the main functional KPIs for PPP projects. Reliability analysis using the Cronbach’s alpha was performed to check the internal consistency and reliability of the results. Finding - The result of this research will be to contribute to the existing understanding of PPP performance measurement of developing countries, by providing a framework for selecting KPIs to measure the PPP concessionaire performance. Validation of results was done by PPP experts. Social - The partnership provides a competitive and transparent mechanism to pursue opportunities that bring together ideas, experiences and skills of both sectors and develop creative solutions to a community’s needs. Originally/value - It is targeted that government adopts an evaluation system of concessionaire selection based on performance. The results could be used to create prediction models for evaluating PPP project performance.

The Effect of Board of Directors Characteristics on Firm’s Financial Performance: An Empirical Study on the Most Active Firms in the Egyptian Stock Exchange

This paper seeks examining the effect of Board of Directors Characteristics on firm’s financial performance in Egypt, using a sample of 50 more active Egyp-tian companies listed on the Egyptian Stock Exchange of the non-financial sector covering the period of three financial years from 2012 to 2017. Board of Directors Structure is represented by CEO Duality, Board Size, Board Meet-ings, Independence board members and Gender Diversity. Return on Assets (ROA), Return on Equity (ROE) and Tobin’s Q is used as a proxy for Firm fi-nancial Performance. In this research, correlation and regression analysis are used to examine the relationship between Corporate Governance and firm’s fi-nancial performance.

The clinical impact of antimicrobial resistance genomics in competition with she-camels recurrent mastitis metabolomics due to heterogeneous Bacilluslicheniformis field isolates.

Background and Aim::Recently, cases of mastitis refractory to treatment have been reported frequently. There are limited routine laboratory investigations on Camelidae infections. Mastitis has been estimated to affect more than 25% of lactating she-camel with up to 70% milk loss. The details of Bacillus spp. pathogenesis in mastitis are not yet fully described. The present study is the first detailed phenotypic and genotypic characterization of Bacillus licheniformis isolates from recurrent mastitic she-camels with sepsis in Egypt.Materials and Methods:The udders of 100 she-camels were investigated, samples collected from smallholders’ farmers in 10 localities within three governorates in Egypt: Marsa Matrouh, Giza, and Sharkia governorates. The pathogens ascend from udder inducing abortion at different trimesters of pregnancy. Polymerase chain reactions-mediated proofs of identity were applied for diagnostic and taxonomic purposes, where the 16S rRNA gene sequence and the β subunit of RNA polymerase encoding gene rpoB are the molecular targets.Results::The genetic elements classified the subspecies to B. licheniformis 61.4%, in addition to, Corynebacterium bovis 29.8%. The somatic cell count (≤1×107 cells/ml) and California mastitis test reactivity (+3 or +4) of milk clinically classified the she-camels population (n=100) under investigation into 50, 20, and 30 as healthy, subclinical, and clinical mastitic she-camels, respectively. During bacterial isolation, 80 species were noticed, of which 71.25% (57/80) and 28.75% (23/80) were Gram-positive and negative, respectively, in two clinical forms: Single (40%, n=16/40) and mixed (60%, n=34/40) bacterial infections. In vitro, 100% sensitivity for gentamycin (10 µg) and ofloxacin (5 µg) was noted; however, it was reduced to 50%. Moreover, during in vivo treatments, cloxacillin (5 µg) upraised as the most effective alternative with 90% sensitivity.Conclusion:Neither recurrent mastitis nor Bacillus species are thoroughly investigated with regard to reproduction performance in Egypt and the usefulness of these strains as antimastitis probiotics. Both persistent bacteremia and dormant endospores were formed but unaffected by standard schemes of antimicrobials injections which proposed the risk of pathogenic bacilli contaminating row milk from apparently healthy she-camel. The discrepancies between treatment results were induced by the resistance that started to develop by the organisms due to frequent and/or faulty use of applied antibiotics.

A Roman Portrait-Head from Medinet Madi

This head with its individual features and portrait characteristics, represents a private person from Medinet Madi in Fayum, dated to latest years of Marcus Aurelius or Commodus reigns. The ivy wreath connects the subject to a theatrical performance, with more probable poetic career. Such subject is attested for the first time from Egypt, and interestingly from a Fayum town, where no evidence for a theatre or theatrical activity is known.The sculpture shows the Alexandrian stuccon technique, which perhaps was known in the Egyptian chora by 2nd century AD. The polychromic scheme used in addition to material suggest it local carving in Medinet Madi. Most important is that the portrait-head presents an interesting archaeological testimony for the vivid picture of theatrical activities and performance in Egypt during Ptolemaic and Roman ages, richly detailed in papyri and literary sources.

Corporate Governance and Banks Performance: Evidence from Egypt

This study investigates the effect of corporate governance on banks' performance in Egypt. It tests the relationship between bank performance and selected factors of corporate governance mechanisms, namely the board size, non-executive directors, CEO duality, board female, board qualifications, and the block holders. Return on assets and return on equity are used as proxy for bank performance. The control variables used in this study are bank size, capital adequacy ratio, debt ratio, the real GDP growth, crisis and revolution. The study used financial data of 25 Egyptian banks covering a period from 2006 to 2014. I used Generalised Least Square (GLS) Random-Effects models to investigate for this relation to find that board size, CEO duality, capital adequacy ratio and bank size are positively affect the bank performance. Revolution has a significant negative correlation with ROA, indicating that Egyptian banks suffered significantly during the revolution period especially the local banks. Non-executive directors, women presentation, board qualifications, and the block ownership have no effect on bank performance. Despite Egyptian banks still have poor corporate governance compared to banks of developing countries, especially in transparency and disclosure; the empirical findings suggest that governance has an essential role in deciding the Egyptian banks' performance.

Success Factors of Highway Construction Projects in Egypt: AHP Approach

While the idea of the existence of a set of key factors for success in planning, designing and construction of projects is not new, it remains one of the most important issues in the field of construction management. This is due to project success factors are inputs to project management practice which can lead directly or indirectly to project success. This study identifies the success factors which can be used for improving the highway projects performance in Egypt during the project pre-construction and construction phases. Through a detailed literature review 35 success factors are identified. Furthermore, the AHP is adopted to prioritize the studied factors through the application of questionnaire survey. The study establishes that implementing an effective quality control and assurance systems, allow sufficient time for feasibility studies, design, drawing and tender preparation, effective cost control system and frequency of project budget updates, preparing adequate designs and drawings and determining sufficient time to implement the desired scope of work are the most important success factors for enhancing the highway projects performance in Egypt.

The 2007 Judicial Reform and Court Performance in Egypt

Abstract This paper contributes to the existing literature on court performance by providing an empirical study about the performance of Egyptian First Instance Courts (FICs). A panel data model on 22 courts for 9 years is estimated to answer the following questions: (1) did the 2007 judicial reform improve the performance of Egyptian FICs? (2) What are the determinants of court output? Our results show tshat the 2007 reform has generally contributed to improving the overall resolution rate in Egyptian FICs. Delay problems related to the resolution of civil cases are however still persistent. Courts with a relatively higher load of criminal cases appear to be more productive while those with a higher load of civil cases still lag behind. Furthermore, higher levels of judicial turnover are associated with lower rates of court output, whereas the computerization of courts leads to higher resolutions. Finally, judicial seniority and the number of judges with higher academic degrees do not affect the resolution rate in FICs.

Budgetary Institutions and Fiscal Performance in Egypt: Is There a Link?

Budgetary institutions have been playing a crucial rule in explaining the varying fiscal performance among different countries. Both theoretical and empirical literature support the idea that budgetary institutions matter for the distribution of power among the key relevant players involved in the budgeting processes, and that they are expected to affect the ultimate outcomes of the fiscal policy. In light of this context, this paper assesses the quality of Egypt's budgetary institutions alongside each of the main phases of the budget cycle, and it analyzes how such institutions may affect the country's overall fiscal performance. The analysis shows that Egypt's fiscal performance can be improved if budgetary institutions, especially those related to transparency and sustainability issues, are strengthened.

The Impact of Information Security on Bankss Performance in Egypt

This paper attempts at investigating the impact of information security on the performance of Egyptian banks. This has been conducted using a sample of 13 banks (out of 32 banks), during 2013. Information security is measured by the degree of the application of ISO 27001 and PCI-DSS standards on Egyptian Banks, while banks' performance is measured by indicators of profitability and asset quality. ISO 27001 specifies the requirements for establishing, implementing, operating, monitoring, reviewing, maintaining and improving a documented Information Security Management System (ISMS). Besides Payment Card Industry Data Security Standards (PCI-DSS) is a multifaceted security standard that includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures. This comprehensive standard is intended to help organizations protectively protect customer account data. Results indicate that implementation of ISO 27001 standards may affect profitability indicators as measured by Return on Capital, while implementation of PCI-DSS standard may affect asset quality as measured by Non-Performing Loan Ratio.

Corporate social responsibility and firm value: an empirical study of an emerging economy

A lot of researches have been done recently on Corporate Social Responsibliity ("CSR"). A lot of studies have been conducted to test how CSR affects firm value and financial perfromance. Results varies from one study to another. Some proved that the realtionship is to be positve, or negative and others proved it to be neutral. The purpose of this research is to evaluate the effect of CSR on firm value and financial performance in Egypt through the application on 33 companies that were listed in the EGX30 in the year 2001, with a timeline of 8 years from 2007 till 2014. Data used in this study is secondary data obtained from the financial statements and annual reports of the egyptian companies and offical online websites. We proved that CSR has a insignifcant negative effect on firm value and a signifcant positive effect on firm’ financial perfromance in Egypt measured by Return on Assets (ROA) and Return on equity (ROE). This research paper is divided into five sections. Section one is the introduction followed by section two the literature review of CSR and its impact on firm value and financial performance. Section three covers the research methodology; section four presents data analysis and finally section five report findings and conclusions of the study.

The Dramatic Middle East: Performance as History in Egypt and Beyond

This article highlights a limited but rich literature focusing on the history of theatrical performance in Egypt and surrounding countries. In the 19th and 20th centuries, people throughout the Middle East consciously wrestled with the incoming flow of Western technologies and ideas in relation to their local contexts, experiences, and desires. Performative spaces offer unique vantage points to more carefully examine the changing worldviews of everyday people. I demonstrate here that theatrical texts, performative spaces, and audience responses all provide insight into the imaginings, hopes, and sufferings of diverse people in the region. Theatrical performance offers a unique lens into the process of identity formation not least because it incorporates a broad array of the population as agents in the process. I argue that the subfield of drama in the Middle East is underdeveloped but full of potential for unearthing histories of individuals, ideas, and artistic production largely unheralded by extant studies.

Testing the effect of marketing strategy alignment and triple-A supply chain on performance in Egypt

Purpose – The purpose of this paper is to examine the effect of triple-A supply chain and marketing strategy alignment on the performance by collecting and analyzing data from the textile industry in Egypt. Design/methodology/approach – A research model is proposed which describes the impact marketing strategy alignment, triple-A supply chain on supply chain performance and organizational performance. The proposed research model and hypotheses were tested using correlation analysis and structural equation modeling based on data collected from 153 companies working in the Egyptian textile industry. Findings – The results of the study support that organizational performance is positively associated supply chain performance. Also supply chain performance is directly affected by triple-A supply chain and marketing strategy alignment. Research limitations/implications – The data used in this study were collected from 153 companies working in the Egyptian textile industry. The generalization of the study results may be limited by the size of the sample. Originality/value – This study provides a useful working model in the textile industry. The results suggest successful implementation of triple-A supply chain and marketing strategy alignment will help in improving the supply chain performance, which in turn improves organizational performance.

The Impact of Ownership Duality on Firm Performance in Egyptyte

The Impact of Ownership Duality on Firm Performance in Egyptyte Masry, Mohamed Abstract Corporate governance is considered to have significant implications for the growth prospects of an economy. Good corporate governance practices are regarded as important in reducing risk for investors, attracting investment capital and improving the performance of companies. The purpose of this study was to examine the relationship between corporate governance practices and firm performance in Egypt, as a result of the adoption privatisation since 1996 and the extent of changes to corporate governance practices. During this period, the firms that operated in Egypt were affected by political and economic transformation. The theoretical basis for this study was agency theory, which focuses on the ownership duality and control. The conceptual framework of the study described how the board structure in Egypt impacted on firm performance. In this framework corporate governance were be indicated ownership duality. Ownership duality refers to the separation of the position of chairman and CEO. The research explored the relationship of this variable to firm performance. Firm performance was assessed by Return on equity, Return on assets and Tobin’s Q. This is the first study conducted in Egypt on corporate governance and firm performance during periods of high volatility in the environment due to adverse economic and political conditions after the 25th of January’s revolution. As a result, this study makes a significant contribution to the body of knowledge on corporate governance in developing countries and illustrates how corporate governance impacts on firm performance in unstable political and economic environments such as that experienced in Egypt. This study is a comparative analysis to measure the changes to corporate governance practices from 2005 to 2012. A sample of 42 companies was selected from the top 100 listed companies in EGX 100(Egyptian stock exchange). The selection was determined by the availability of data for both years. Data were obtained from annual reports and the Egyptian Capital Market Authority. In addition, key accounting data as well as annual reports were obtained from the following sources: Cairo and Alexandria Stock Market Exchanges (CASE) and financial year book (financial statements from 2005 to 2012).The data were analysed with SPSS to obtain quantitative measures of descriptive statistics, Spearman’s correlation and analysis of variance. Descriptive statistics from the study showed positive relationship for separate leadership and firm performance based on return on equity. In this study, the positive relationship between corporate governance structures, separate leadership, and firm performance indicate that firms have implemented corporate governance strategies, which have resulted in higher profitability and share price performance. Full Text: PDF DOI: 10.15640/ijat.v3n1a4