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result(s) for
"Elbolok, Reem M"
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The Effect of Macroeconomic Variables on Corporate Financial Development
by
Soliman, Hebatallah A
,
Elbolok, Reem M
,
Elhalaby, Sherif
in
الأداء المالي
,
الاستقرار المالي
,
التنمية المالية
2021
Purpose- This study seeks to examine whether macro-economic factors influence on the corporate financial development that measured by banks' Financial Performance (FP), Dividends and Financial Stability (FS) Design/methodology/approach- The balanced panel data regression model has been adopted. The research data includes 220 banks (150 Islamic banks and 70 conventional banks) across 25 countries for 8 years (2012-2019). The macro-economic factors include unemployment and domestic credit to private sector by banks (percentage of GDP). The Information and Communication Technologies (ICT) includes secure Internet servers and individuals using the Internet and finally Innovation Capability. Findings-The results for the impact of innovation support the negative consequence over FP with insignificant effect on dividends and FS. Similarly, the analysis support the negative impact for secure Internet servers on the FP and no significant for other two dependent variables. Related to the impact of Individuals using Internet, we also just find a positive effect on FS. For the influence of the unemployment, the analysis shows positive effect on the FS while shows negative effect on the dividends as well as shows insignificant consequence over the FP. Finally, the analysis supports the positive consequence for the domestic credits on the three corporate indicators (FP, FS, and dividends). After applying robustness tests, the regression analysis shows identical results. Originality/value-The paper supports to what extent the country factors have a good economic consequences over the banks, which may motivate the government and policymakers to ask for more considering of factors as internet and innovation to develop and enhance the level of performance, stability and dividends.
Journal Article
Determinants of MENA Countries Participation in Global Value Chains
2021
This study seeks to measure the effect of Macroeconomic factors which are GDP, FDI, Level of industrialization, Domestic Credit, Quality of infrastructure, Governance Indicators, along with property protection, and Innovations on the value of GVCs participation. By employing OLS model with panel fixed effects covering 15 MENA countries, over the period 2007-2018 for each country. Consistent with our predictions, the empirical results indicate a positive relationship with GDP and FDI, while negative relationship with the level of industrialization, and find no association with Domestic credit. Concerning the impact of Infrastructure quality, we find a positive impact for use of mobile and Internet, and insignificant for quality port and quality roads. Concerning the impact of Governance Indicators, we find a positive impact for regulation quality and a negative impact for political stability, and control corruption and insignificant for rule of law. Our analysis also shows a positive impact for innovation and a negative impact for property protection. This requires Attracting more foreign investment and directing it towards manufacturing industries, increasing the value added of manufacturing in the GDP, establish policies that encourage education, technical training, and development Human capital to the needs of the specific value chain segments, specialized skills are a needed for participation in high value added stages of the chain, encouraging innovation, increasing the efforts to reforms Trade and investment policy, as well as improvements of infrastructure, logistics, institutions quality, protecting intellectual property rights, and Improvement the role of banks to promoting investments. This study adds value for how macroeconomic factors and corporate governance work as a motivator or constrained for GVCs participation in different markets.\"
Journal Article