Corporate governance and compliance with International Financial Reporting Standards (IFRSs):evidence from two MENA stock exchanges

This study examines the influence of corporate governance structures on the levels of compliance with IFRSs disclosure requirements by companies listed on the stock exchanges of two leading MENA (Middle East and North Africa) countries, Egypt and Jordan. This study employs a cross-sectional analysis of a sample of non-financial companies listed on the two stock exchanges for the fiscal year 2007. Using an unweighted disclosure index, the study measures the levels of compliance by companies listed on the two stock exchanges investigated.Univariate and multivariate regression analyses are used to estimate the relationships proposed in the hypotheses. In addition, the study uses semi-structured interviews in order to supplement the interpretation of the findings of the quantitative analyses. An innovative theoretical foundation is deployed, in which compliance is interpretable through three lenses - institutional isomorphism theory, secrecy versus transparency (one of Gray’s accounting sub-cultural values), and financial economics theories. The study extends the financial reporting literature, cross-national comparative financial disclosure literature, and the emerging markets disclosure literature by carrying out one of the first comparative studies of the above mentioned stock exchanges. Results provide evidence of a lack of de facto compliance (i.e., actual compliance) with IFRSs disclosure requirements in the scrutinised MENA countries. The impact of corporate governance mechanisms for best practice on enhancing the extent of compliance with mandatory IFRSs is absent in the stock exchanges in question. The limited impact of corporate governance best practice is mainly attributed to the novelty of corporate governance in the region, a finding which lends support to the applicability of the proposed theoretical foundation to the MENA context. Finally, the study provides recommendations for improving de facto compliance with IFRSs disclosure requirements and corporate governance best practice in the MENA region and suggests areas for future research.

Trends in food supply chain management

This chapter analyses specific trends in food supply chain management. We focus our analysis on information technology and on sustainability. Relevant applications, implementation practices and challenges are examined in the context of contemporary food supply chains. This analysis will benefit supply chain managers, researchers and other stakeholders involved with the food sector. © 2010 Woodhead Publishing Limited All rights reserved.

Adoption of e-business solutions in food supply chains

The aim of this chapter is to increase understanding of e-business adoption in the food supply chain. In the first part of the paper an analysis of the concept and the context of e-business are presented along with a classification of the various e-business applications based on the dimensions of involvement and complexity. Next emphasis is given to the issue of e-business adoption. In particular an analysis of the factors that influence the adoption process is provided by exploring the specific characteristics of the food industry as well as the potential impact of the use of e-business solutions. These factors are not only related to the company but also to the supply chain of each company and the actual value of e-business applications. The chapter concludes that in many cases e-business is wrongly considered as a sole application and its adoption as mainly an intra-firm issue. Finally future trends are considered and discussed. © 2010 Woodhead Publishing Limited All rights reserved.