PurposeThis study examines the effect of non-financial variables related to governance on the accuracy of financial distress prediction among Egyptian listed small and medium-sized enterprises (SMEs), by using the logistic regression technique.Design/methodology/approachThis study used a sample of 24 Egyptian-listed SMEs in each year, totaling 120 firm observations, of which 25 were classified distressed and 95 of them non-distressed between 2014 and 2018. The variables for the study included five financial variables and thirteen non-financial variables related to governance. The models were developed using financial variables alone as well as combining financial and non-financial variables related to governance.FindingsThe results showed that the model with financial variables had a prediction accuracy of 91.7% , whereas models with a combination of financial and non-financial variables related to governance predict with comparatively better accuracy of 92.7 and 93.6% .Research limitations/implicationsAlthough the results seem to be conclusive, it could be noted that the non-distressed sample was not paired with the distressed sample. Other studies showed that paired samples increase the financial distress prediction rate. Furthermore, due to the small sample size, this study was unable to create a hold-out sub-sample for the accuracy test.Practical implicationsThe proposed distress prediction model for SMEs is effective for stakeholders, including banks and other financial institutions, in the assessment of the credit risk of SMEs. Using such a model, they could better identify SMEs with a higher risk of failure in their lending decisions. Moreover, SME managers' could be interested in using such models as a tool for planning corrective action, in addition to planning and controlling current operations to avoid financial failure in the future.Originality/valueThis study contributes to financial distress prediction literature in different ways. First, few studies were conducted in the area of financial distress among SMEs. Second, neither of these studies was conducted within the Egyptian context, nor any of them had used non-financial variables related to governance in the prediction of financial distress among SMEs.
Purpose This paper aims to empirically examine the determinants affecting audit fees in the Egyptian context concerning different organizational forms and governance mechanisms. Design/methodology/approach This study adopts financial and non-financial data from 62 Egyptian firms listed on the Egyptian Stock Exchange from 2015 to 2020. The proposed audit fees model is developed by adopting panel data analysis to examine the effect of auditee, auditor and engagement attributes on audit fees. The validity of the proposed equation for determining audit fees on an annual basis was established by applying the fixed effect model results for the year 2020. Findings The results revealed that the most significant determinants that affect audit fees are liquidity, audit committee independence, audit report lag and the status of the audit firm. Audit fees of 95.7% are determined by these factors. The validation test proved that the proposed model was more accurate and closer to the estimated data at nearly 90.2%. Practical implications The results of this paper would send early signals to audit firms, stakeholders and regulators regarding the determinants of audit fees, and provide an objective standard for fee-setting to be used by stock market regulators and professional bodies, in determining a minimum amount of audit fees that ensure a reasonable level of audit quality. Originality/value To the best of the authors’ knowledge, for the first time, this paper empirically examines the determinants of audit fees in an emerging market like Egypt and presents evidence for a period of six years.
This research deals with the Sharia provisions related to Owning & breeding dogs in Islamic jurisprudence, and explaining the regulations of what is Prohibited and non-forbidden with evidence considered by the majority of jurists, and to clarify the a divinely- revealed law resulting from direct contact and dealing with dogs, such as the dogs' purity and uncleanness, besides the impact of touching dogs on the purity of the human being, and the effect of licking the utensil on the purity of water and the vessel. Also, this research aims to explain the sharia provision for the dog putting any of its parts other than saliva in water or pot with reference to the sayings of the scholars to clarify the wisdom of the tasbeeh (washing utensil 7 times) whether they are for worshipping or its purification? It also aims to clarify the legally considered approach in clearing what the dog has licked, with reference to the sayings considered in each issue and its evidence and the discussions on it. and clarifying the preponderance, and the reason for its weighting, with reference to aspects of the scientific miracle in the Sunnah of the Prophet in some matters relating to those provisions.
This research aims to clarify the jurisprudential characterization of the person infected with the Corona epidemic, and to clarify the jurisprudential provisions resulting from his disposal in the sales contract; This is because the patient may suffer from obsessions that affect his behavior, and the researcher has combined the inductive approach by following the issues related to the topic of research, collecting and categorizing them, and the descriptive approach in terms of mentioning the sayings of the jurists in each issue with its evidence, with mentioning the sayings of the considered schools of jurisprudence, and the discussions on them as possible, and clarifying The most correct, and the reason for the weightingThe researcher came out with results, the most important of which are: The Corona epidemic can be described by what is called jurisprudence as a dreaded disease, selling the person infected with the Corona epidemic if he is not indebted to a foreigner or buying it from him for the same price is valid without the heirs’ permission, whether debtor or not, and it is also true if it is a favoritism of one third or less Pre-emption is established for the partner in the case of the patient selling to an heir or someone else if the sale is made at the same price, pre-emption is established for the intercessor if the purchaser is from the patient by favoritism and the intercessor is foreign, and the option of the condition and the fault of the person suffering from the epidemic is not lost if there is an excuse such as loss of consciousness or the like.
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