Purpose – This paper empirically explores the causality between board structure and the fund performance in the mutual fund industry of an emerging market. Design – Using a panel of 82 Egyptian funds spanning 10 years before and after the global financial crisis, we develop a Structural Equation Model to deal with the endogeneity between measures of governance and performance in a systematic and identified way. Findings – Experimental results show a significant negative relationship between the equity ownership by the directors and the fund performance. Evidence shows little support for a significant effect of board structure on the performance after controlling for the endogeneity. It implies the misconduct of governance rules in Egypt, especially the weakness in board composition. Originality– Given the important role of mutual fund industry in Egypt, this is the first study of its kind explores the causality between board structure and the fund performance in the mutual fund.
In this paper, we investigate the link between the well-known traditional finance and economic asset class and the digital currencies. The present study is undertaken to investigate the impact of the COVID-19 on the Financial Markets and the four major Cryptocurrencies from January 2020 to May 2021 in Egypt and USA. On the process of investigating the impact of the COVID-19 on the financial markets the study assumes the COVID-19 cumulative cases, Death cases, and the Fatality ratio to be the independent variables, and the Stock returns for the two indices (EGX30 and S&P 500), and the Returns for the four major cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Tether) to be the dependent variables of the study. The study findings revealed that there is a negative relationship between the COVID-19 cumulative cases, and daily S&P 500 stock returns, and there is a negative relationship between COVID-19 cumulative cases, fatality ratio, and daily EGX30 stock returns. There is a positive relationship between COVID-19 world death cases and daily Bitcoin prices, daily Ethereum prices, and daily Litecoin prices. There is a negative relationship between COVID-19 world death cases and daily Tether prices because tether is the only important stable coin on the crypto market with significant market capitalization.
Purpose: This paper uses institutional theory as a framework for examining the effects of the alignment between the use of patient advisory configuration, coping strategies, and board competencies, on patient safety, and health system performance. Design/Methodology/Approach: This paper investigates whether the relationship between patient advisory configuration, coping strategies of frontline health workers, board competencies, and health system performance is mediated by patient safety and patient satisfaction. Direct and mediation effects will be tested using structural equation modelling; qualitative data will be used to illustrate the quantitative results. Originality/value: This conceptual paper focuses on the concept of New Public Health Management, it extends previous research by developing a more comprehensive and integrated model to examine the effects of the alignment between the use of patient advisory configuration, coping strategies, and board competencies, on health system performance, and mediating effect of patient safety and patient satisfaction.
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