Bank risk and performance in the MENA region: The importance of capital requirements

This paper benefits from various risk-and non-risk-based regulatory capital ratios and examines their impact on bank risk and performance in the Middle East and North Africa (MENA) region. Our findings suggest that compliance with Basel capital requirements enhances bank protection against risk, and improves efficiency and profitability. The impact of capital requirements on bank performance is more pronounced for too-big-to-fail banks, banks in periods of crises and banks in countries with good governance. The results are also robust when controlling for the Arab Spring transition period. Finally, endogeneity checks, alternative risk and performance measures, a principal component analysis and other estimation techniques confirm findings. JEL classification: G21, G28, G32, P5

The contribution of market movements, asset allocation, and active management to Islamic equity funds' performance

© 2018 Board of Trustees of the University of Illinois Where the performance of Islamic equity funds (IEFs) comes from? Is it from market movements, asset allocation policy or from active portfolio management? Our study is the first to tackle this question in the Islamic funds context. We use a database covering 281 IEFs for the period 2007-2016, and we test the role of each factor in explaining their returns. We find that market movements dominate the others components explaining nearly 50% of the monthly return variability and that, taking together, asset allocation policy and active management explain approximately the second half of IEFs returns. We argue that the IEFs underperformance observed by the existing literature could come from an inefficient and too important active portfolio management

ANTI-INFLAMMATORY AND ANALGESIC ACTIVITIES OF OLIVE TREE EXTRACT

Objective: The aim of this study was the in vivo evaluation of analgesic and anti-inflammatory effect of an olive tree extract with high polyphenols content.Methods: This olive tree extract was obtained from Moroccan olive fruits and leaves using an eco-extraction free of chemical solvents and toxic additives. Anti-inflammatory activity was evaluated using carrageenan and histamine-induced paw edema methods. Analgesic activity of the olive tree extract was estimated against a hot plate, acetic acid induced writhing and formalin tests.Results: The extracts showed significant anti-inflammatory and analgesic activities with a dose-dependent manner. Anti-inflammatory activity of olive tree extract at 250 and 500 mg/kg doses was more important compared to the used standard drugs (p<0.05), in both carrageenan and histamine-induced paw edema tests. In analgesic assays, results showed that 500 mg/kg dose of olive tree extract has a significant analgesic effect through both peripheral and central mechanisms.Conclusion: Our findings suggest that olive tree extract is safe and has potential anti-inflammatory and analgesic activities, which promote this use as a food supplement against pain and inflammation related to inflammatory diseases.Keywords: Olive leaves, Olive fruit, Polyphenols, Anti-inflammatory, and Analgesic, In viv

Pheochromocytoma of the urinary bladder: a case report

Urinary bladder pheochromocytoma is rare. From a case report of unsuspected pheochromocytoma and literature review, the authors develop a diagnostic and therapeutic algorithm for the management of this ectopic pheochromocytoma localization

Evolution of Microbial Composition and Enzymatic Activities during the Composting of Textile Waste

The production of stable and mature compost often depends on the performance of microbes and their enzymatic activity. Environmental and nutritional conditions influence the characteristics of microbial communities and, therefore, the dynamics of major metabolic activities. Using three waste mixtures (textile waste mixed with either green, paper, or cardboard waste), the maturity of the compost produced was assessed by following the physico-chemical parameters and enzymatic activities provided by the microorganisms that were identified using next-generation sequencing (NGS). Among the three mixtures used, it was found that the two best mixtures showed C/N ratios of 16.30 and 16.96, total nitrogen of 1.37 and 1.39%, cellulase activities of 50.62 and 52.67 Ug−1, acid phosphatase activities of 38.81 and 68.77 Ug−1, and alkaline phosphatase activities of 51.12 and 56.86 Ug−1. In addition, several lignocellulosic species, together with those that are able to solubilize phosphate, were identified. Among those known for cellulase and acid/alkaline phosphatase activities, bacteria belonging to the Proteobacteria, Bacteroidetes, Actinobacteria, and Firmicutes phyla were shown. The presence of species belonging to the Ascomycota and Basidiomycota phyla of Fungi, which are known for their ability to produce cellulase and acid/alkaline phosphatases, was demonstrated. These findings provide a basis for the production of stable and mature compost based on textile waste.This article belongs to the Special Issue Production and Application of Microbial Lignocellulose—Degrading Enzymes)This research was supported by the National Center for Scientific Research in Rabat (CNRST) and Research Council of Lithuania (LMT) grant S-MIP-19-61 to J.U. The visit of S.B. to Vilnius Gediminas Technical University was supported by an Erasmus + program. The APC was funded by Vilnius Gediminas Technical University

Environmental and Social Disclosures and Firm Risk

ArticleWe examine the link between a firm’s environmental (E) and social (S) disclosures and measures of its risk including total, systematic, and idiosyncratic risk. While we do not find any link between a firm’s E and S disclosures and its systematic risk, we find a negative and significant association between these disclosures and a firm’s total and idiosyncratic risk. These are novel findings and are consistent with the predictions of the stakeholder theory and the resource based view of the firm suggesting that firms which make extensive and objective E and S disclosures promote corporate transparency that can help them build a positive reputation and trust with its stakeholders, which in turn can help mitigate the firm’s idiosyncratic/operational risk. These findings are important for all corporate stakeholders including managers, employees, and suppliers who have a significant economic interest in the survival and success of the firm

CSR and firm debt maturity

International audienc

CSR and firm debt maturity

International audienc