You searched for - Economic Research Forum (ERF)

Search results for:


Publications
Working Papers

To Bank or Not to Bank: The Determination of Cash Holdings and Lines of Credit

Ghada Tayem

This paper investigates two liquidity choices of listed Jordanian firms: internal represented by cash holdings and external represented by lines of credit. We document a significant substitution effect of lines ... read more


Publications
Working Papers

Capital Raising in the Arab World

Juan Jose Cortina Lorente, Soha Ismail and Sergio L. Schmukler

This paper provides a first documentation of how firms in Arab countries use equity, corporate bond, and syndicated loan markets to obtain finance. We compile a large dataset at the ... read more


Publications
Working Papers

Firm Financing and Growth in the Arab Region

Juan Jose Cortina Lorente, Soha Ismail and Sergio L. Schmukler

This paper provides a first analysis of the extent to which firms in the Arab region use capital markets to obtain financing and grow. It addresses two questions: First, how ... read more


Publications
Working Papers

Private Banking and Crony Capitalism in Egypt

Ishac Diwan and Marc Schiffbauer

In Egypt, the bulk of bank loans during 2003-2010 went to politically connected firms. At the same time, the banking sector was liberalized increasingly operated around competitive and profit-maximizing principles. ... read more


Publications
Working Papers

Crony Interlockers and The Centrality of Banks: The Network of Moroccan Listed Companies

Mohamed Oubenal

In this paper, we study crony capitalism through the lens of Moroccan listed companies and the role of the financial sector. We first highlight the role of banks in the ... read more


Publications
Working Papers

Structure du Capital et Gouvernance des Societes Cotees au Maroc

Sidi Mohamed Rigar and Sanae Solhi

Abstract Le débat autour de la question de gouvernance des entreprise s’est acharné ces dernières années avec la multiplication des scandales financiers et les déroutes qu’ont connues certaines firmes par rapport aux règles ... read more


Publications
Policy Research Reports

The Impact of Corporate Governance, Ownership Structure, and Economic and Financial Liberalization on the Financial and Operating Performance of Newly Privatized Firms in Selected MENA Countries

Samir Ghazouani

Privatization of state-owned enterprises (SOEs) is considered the main vehicle for reinforcement and improvement in private sector performance. In fact, during the past two decades, privatization has become one of ... read more


Affiliates
Research Associates

Yosr Abid-Fourati

Areas of Interest: Regional development and governance Microsimulation modeling and inequality analysis Economic theory: Political economy of reform and Pension policy Education: Ph.D., Economics, National University of Ireland (NUI) Galway, Ireland, 2010 M.A., ... read more


Publications
Working Papers

Access to Finance: Mind the Gender Gap

Hanan Morsy and Hoda Youssef

Studies on financial inclusion have so far focused on assessing determinants to overall access to finance, but limited attention has been given to financial inclusion from a gender point of ... read more


Publications
Working Papers

Governance Reform to Achieve Social Justice and Inclusive Growth in Egypt: Building Inclusive Economic Institutions

Hafez Ghanem

The development literature has focused mostly on the relationship between governance and growth, and most studies show a positive correlation between different governance indicators, particularly those relating to the security ... read more


Publications
Working Papers

Ownership Structure and Financial Performance in Islamic Banks: Does Bank Ownership Matter?

Sarra Ben Slama Zouari and Neila Boulila Taktak

The current study aims to investigate empirically the relation between ownership structure (concentration and mix) and performance in a panel data sample of 53 Islamic Banks scattered over 15 countries ... read more


Publications
Working Papers

Financial Cascades in The MENA Region: Theory, Empirics and Policy

Hamid Mohtadi and Stefan Ruediger

We develop a randomized analytical model of financial herds and cascades, which we first numerically simulate and later empirically test for a panel of 12 MENA countries among a sample ... read more


Publications
Working Papers

Is Corporate Governance Different for Islamic Banks? A Comparative Analysis between the Gulf Cooperation Council Context and the Southeast Asia Context

Hamadi Matoussi and Rihab Grassa

Islamic banks are particular financial institutions generating distinct corporate governance challenges. The present study examines corporate governance in Islamic banking firms in both Gulf cooperation Council countries and Southeast Asia ... read more


Publications
Working Papers

Predicting Bank Financial Strength Ratings in an Emerging Economy: The Case of Turkey

Hulisi Ogut, M. Mete Doganay, Nildag Basak Ceylan and Ramazan Aktas

The recent global financial crisis shows us that the rating of bank’s financial strength can be very misleading. As the credibility of the credit rating agencies has been shaken, the ... read more


Publications
Working Papers

Do Global Shocks Drive Investor Herds in Oil-Rich Frontier Markets?

Mehmet Balcilar, Riza Demirer, Shawkat Hammoudeh and Ahmed Khalifa

This paper examines the dynamic relationship between global factors and herding behavior in the oil-rich frontier stock markets of the Gulf Cooperation Council (GCC), using a time-varying transition probability Markov-switching ... read more