Board composition, ownership structure and dividend policies in an emerging market: further evidence from CASE 50

Purpose – The purpose of this study is to examine dividend policies in an emerging capital market, in a country undergoing a transitional period. Design/methodology/approach – Using pooled cross-sectional observations from the top 50 listed Egyptian firms between 2003 and 2005, this study examines the effect of board of directors’ composition and ownership structure on dividend policies in Egypt. Findings – It is found that there is a significant positive association between institutional ownership and firm performance, and both dividend decision and payout ratio. The results confirm that firms with a higher return on equity and a higher institutional ownership distribute higher levels of dividend. No significant association was found between board composition and dividend decisions or ratios. Originality/value – This study provides additional evidence of the applicability of the signalling model in the emerging market of Egypt. It was found that despite the high institutional ownership and the closely held nature of the firms, which imply lower agency costs, the payment of higher dividend was considered necessary to attract capital during this transitional period.

Introducing international accounting standards to an emerging capital market: relative familiarity and language effect in Egypt

The purpose of this study is to assess the effect of relative familiarity and language accessibility on the International Accounting Standards (IASs) disclosures when IASs are first introduced in an emerging capital market. The study focuses on the annual reports of listed non-financial companies in Egypt when IASs were first introduced. The method used applies a disclosure index measurement to a sample of listed company annual reports and evaluates relative compliance with IASs in relation to corporate characteristics. The results show that for relatively less familiar requirements of IASs, the extent of compliance is related to the type of audit firm used and to the presence of a specific statement of compliance with IASs. A lower degree of compliance with less familiar IASs disclosure is observed consistently across a range of company characteristics. Consideration of agency theory and capital need theory would lead to prior expectation of a distinction in disclosure practices between different categories of companies. The results were, therefore, counterintuitive to expectations where the regulations were unfamiliar or not available in the native language, indicating that new variables have to be considered and additional theoretical explanations have to be found in future disclosure studies on emerging capital markets.

Corporate Social Reporting (CSR) in emerging economies: a review and future direction

Purpose – Previous reviews of Corporate Social Reporting (CSR) literature have tended to focus on developed economies. The aim of this study is to extend reviews of CSR literature to emerging economies. Design/methodology/approach – A desk-based research method, using a classification framework of three categories. Findings – Most CSR studies in emerging economies have concentrated on the Asia-Pacific and African regions and are descriptive in nature, used content analysis methods and measured the extent and volume of disclosures contained within the annual reports. Such studies provide indirect explanation of the reasons behind CSR adoption, but of late, a handful of studies have started to probe managerial motivations behind CSR directly through in-depth interviews finding that CSR agendas in emerging economies are largely driven by external forces, namely pressures from parent companies, international market and international agencies.

Privatisation and sustainable competitive advantage in the emerging economies of Central Europe

Extant research on the impact of privatization in the Central Europe (CE) region has focused on improvements in efficiency and the nature of cost-based advantages. This study argues that the development of a vibrant privatized sector requires attention to the broader resource configurations of domestic enterprises. Empirical research was conducted on a large sample of firms in Poland, Hungary and Slovenia. Foreign investment was found to significantly impact on resource accumulation with implications for the development of strategic capabilities and competitive advantage. Foreign direct investment is an effective vehicle for the transfer of financial resources, reputation and new brands but not organizational capabilities. In terms of practice, this study demonstrates the important role of outside investment in the development of a firm's resource base (Frydman et al. 1999). Companies can gain a competitive advantage in their domestic markets through gaining access to the resources of foreign investors.

Brand extensions in emerging markets:theory development and testing in China

Brand extensions are increasingly used by multinational corporations in emerging markets such as China. However, understanding how consumers in the emerging markets evaluate brand extensions is hampered by a lack of research in the emerging markets contexts. To address the knowledge void, we built on an established brand extension evaluation framework in the West, namely Aaker and Keller (1990)1. Aaker , D. A. and Keller , K. L. 1990 . Consumer evaluations of brand extensions . Journal of Marketing , 54 ( 1 ) : 27 – 41 . [CrossRef], [Web of Science ®] View all references, and extended the model by incorporating two new factors: perceived fit based on brand image consistency and competition intensity in the brand extension category. The additions of two factors are made in recognition of the uniqueness of the considerations of consumers in the emerging markets in their brand extension evaluations. The extended model was tested by an empirical experiment using consumers in China. The results partly validated the Aaker and Keller model, and evidence that both newly added factors were significant in influencing consumers' evaluation of brand extensions was also found. More important, one new factor proposed, namely, consumer-perceived fit based on brand image consistency, was found to be more significant than all the factors in Aaker and Keller's original model, suggesting that the Aaker and Keller model may be limited in explaining how consumers in the emerging markets evaluate brand extensions. Further research implications and limitations are discussed in the paper.

Cultural impact of wireless networks:emerging experiences in the healthcare sector

Culture defines collective behavior and interactions among people in groups. In organizations, it shapes group identity, work pattern, communication schemes, and interpersonal relations. Any change in organizational culture will lead to changes in these elements of organizational factors, and vice versa. From a managerial standpoint, how to cultivate an organizational culture that would enhance these aforementioned elements in organizational workplace should thus be taken into serious consideration. Based on cases studies in two hospitals, this paper investigates how organizational culture is shaped by a particular type of information and communication technology, wireless networks, a topic that is generally overlooked by the mainstream research community, and in turn implicates how such cultural changes in organizations renovate their competitiveness in the marketplace. Lessons learned from these cases provide valuable insights to emerging IT management and culture studies in general and in wireless network management in the healthcare sector in particular.

Evaluating service quality and customer satisfaction evaluation in an emerging markets

Developing economies offer tremendous potential for future growth and organizations appreciating these consumers’ requirements stand to reap considerable returns. However, compared with more developed economies published consumer studies are few. In particular, there is a dearth of service quality research and hardly any from Africa. Furthermore, the little available research tends to apply Western methodologies, which may not be entirely appropriate. This research investigates East African consumer perceptions of retail banking using an approach that takes account of the research context. Qualitative research was undertaken to define the relevant service attributes. Performance along these was then investigated through a survey with over 2000 respondents. Principal component analysis identifies 13 core service dimensions and multinomial logistic regression reveals which are the key drivers of customer satisfaction. Comparison of the results with studies from other regions confirms that established standardized research instruments are likely to miss or under-represent service attributes important in developing countries.

Articulating wider smartphone emerging security issues in the case of M-government in Turkey

For the last several years, mobile devices and platform security threats, including wireless networking technology, have been top security issues. A departure has occurred from automatic anti-virus software based on traditional PC defense: risk management (authentication and encryption), compliance, and disaster recovery following polymorphic viruses and malware as the primary activities within many organizations and government services alike. This chapter covers research in Turkey as a reflection of the current market – e-government started officially in 2008. This situation in an emerging country presents the current situation and resistances encountered while engaging with mobile and e-government interfaces. The authors contend that research is needed to understand more precisely security threats and most of all potential solutions for sustainable future intention to use m-government services. Finally, beyond m-government initiatives' success or failure, the mechanisms related to public administration mobile technical capacity building and security issues are discussed.