Macro-Drivers Of Gulf Co-operation Council Countrys Economic Risk

This study provides the first empirical analysis of the Gulf Co-operation Council (GCC), which explores the macro-drivers of each country's economic risk. It examined the economic risk across GCCs countries over the period of January 2000 to December 2011. The study included all GCC countries: Kingdom of Saudi Arabia (KSA), Kuwait, United Arab of Emirates (UAE), Qatar, Sultanate of Oman (Oman), and Kingdom of Bahrain (Bahrain). In terms of economic risk, results revealed that Kuwait and UAE represented a safe land for local and international investment to be allocated in GCC. This could be attributed to their very high rating and stability of economic systems in comparison with other GCC countries. Results also revealed that KSA, Qatar and Bahrain were considered countries with an instable economic system in comparison with other GCC countries. Moreover, findings revealed that each GCC country was a unique case in terms of its drivers of economic risk. Results also indicated that while KSAs economic risk was driven by the instability of its budget balance as a percentage of GDP, Kuwaits economic risk was driven by the low real GDP growth, and UAEs economic risk was driven by the instable GDP per capita. As for the economic risk of Qatar, Oman, and Bahrain, it was driven by the illiquidity of the economy as measured by the current account as a percentage of GDP

The Impact of Assets Structure and the Components of Cash Conversion Cycle on the Egyptian SMEs Financial Failure Predictability

This study investigates determinants of Egyptian SMEs financial failure predictability based on a sample of 32 failure SMEs and 28 non-failure SMEs for the period 2013 and 2019. The determinants of SMEs financial failure are categorized into four groups; Working Capital, Asset Structure, Liquidity, and Leverage. The factor and logistic regression analysis are employed to identify the most significant independent variables that classify between failure and none-failure Egyptian’s SMEs and determine the driver of SMEs financial failure. Our findings significantly show that failing SMEs suffer from long cash conversion cycles resulting from long inventory holding period, average collection period, and short average payment period, in addition to lower liquidity, excessive use of debt to assets, and lower fixed assets percentage, in contrast to non-failure Egyptian’s SMEs

The Impact Of Organizational Objectives On The Selection Of Defensive Marketing Strategies: Empirical Evidence From A Small Open Economy

Defensive Marketing Strategies (DMSs) do not receive enough attention as offensive or attacking marketing strategies in literature. This gap in the research constitutes a serious weakness in the marketing field. This paper aims to fill this gap in literature by conducting the first study to explore the determinants of the implemented DMSs in Kuwait. Empirically, this study examines the relationship between eight DMSs, demographics, and organizational objectives to define the most prevalent and appropriate DMSs to be deployed in the small open economy of Kuwait. Factor analysis and canonical correlation are used in this study to analyse the obtained data from surveyed board members, CEOs and executive managers of listed companies in the financial sector of Kuwait Stock Exchange (KSE). Results reveal a significant relationship between the eight DMSs and the two sets of identified variables in Kuwait context. Cost leadership strategy ranked the most effective defensive marketing strategy by respondents. Also, results show that organizational objectives are mostly affecting the choice of DMSs

Cross-Countries Empirical Analysis Of GCC Financial Systems Instability

In literature, the drivers of each of the Gulf Co-operation Council (GCC) country financial system instability did not receive adequate attention to be investigated separately, since the GCC countries are perceived as one Oil & Gas economy with the same financial risk drivers. This paper fills this gap by examining the relative importance of the financial risk drivers for each GCC country capitalizing on time series analysis and utilizing monthly rating of each GCC country’s financial risk driver for the period of Jan. 2000 to Dec. 2013.This paper argues that the drivers of each GCC’s country financial system instability are different and have unalike explanatory power from one GCC country to another. Meanly, it examines the impact of Foreign Debt Service as a percentage of Exports of Goods and Services (FDS/EGS), Foreign Debt as a percentage of GDP (FD/GDP), Net International Liquidity as months of Import Cover (NIL/IC), Current Account as a percentage of Exports of Goods and Services (CA/EGS), and Exchange Rate Stability (EXRS) on each GCC country financial system instability.In terms of financial risk rating, results show that NIL/IC has negative impacts on all GCC countries financial risk rating. For financial system instability, results indicate that it is driven by CA/EGS in Qatar, KSA, Oman and UAE, by FD/GDP in Kuwait and Bahrain. In terms of the explanatory power of the GCC financial risk, results revealed that FD/GDP has the highest explanatory power in the case f Kuwait, KSA and UAE, CA/EGS in the case of Qatar and Oman, while the FDS/EGS has the highest explanatory power in the case of Bahrain