Ownership Structure and Firm Performance in the Middle East: A Meta-Analysis

This paper applies a meta-analysis method to investigate the moderating impact of political stability on the relationship between ownership identities and firm performance in the Middle Eastern countries (i.e., the Arab World). The study collected 105 correlations from 46 previous studies with 11,999 observations in 11 Middle Eastern countries. The findings show that most ownership identities such as institutional ownership, government ownership, inside ownership, and family ownership have positive relationship with firm performance. Another interesting finding shows that in countries with political instability, the level of ownership identities such as institutional ownership, foreign ownership, and inside ownership play an important role in controlling companies, which leads to firm performance. The meta-analysis results reveal that different levels of political stability have an impact on the role of the majority shareholders. The findings provide evidence that the performance of ownership identities in the Middle Eastern countries remains effective, especially with the existence of fair protection rights and political stability

Corporate Governance Mechanisms and Voluntary Disclosure in Saudi Arabia

The main objective of this study is to examine the impact of internal and external corporate governance mechanisms on voluntary disclosure in Saudi Arabia. The sample consists of 87 companies from the Saudi Stock Market. The data are collected from the annual reports for the available financial years 2006 and 2007. It is found that corporate governance mechanisms play a vital role in providing quality reporting. Most corporate governance mechanisms, especially non-executive directors, board size, CEO duality, audit quality, and government ownership, have a significant contribution in providing quality voluntary disclosure. The findings of this study provide evidence on the effectiveness of corporate governance as a mechanism of monitoring power to provide users with adequate and sufficient information. The findings of this study have important implications for authority regulators, policy makers, shareholders and other users of reports who have an interest in best practices of corporate governance. Keywords: Corporate Governance, Voluntary Disclosure, Saudi Arabi

A Low-Cost IoT Based Buildings Management System (BMS) Using Arduino Mega 2560 And Raspberry Pi 4 For Smart Monitoring and Automation

This work presents an internet of things (IoT) based building management system (BMS) for monitoring, control, and energy management in buildings to provide an efficient way of energy utilization. Existing systems mainly provide monitoring of different parameters with limited controlling/automation functions. Existing solutions also do not provide automatic decision-making, advanced safety management, and resource tracking. However, the proposed system provides a comprehensive way of monitoring, controlling, and automatic decision making regarding different environmental and electrical parameters in buildings, i.e., temperature, humidity, dust, volt, etc., by using a low-cost wireless sensor network (WSN). The architecture of the proposed system consists of five layers and uses analog sensors which are connected to Arduino Mega 2560 microcontrollers for data collecting, NodeMCUs ESP8266 for wireless communication, Raspberry Pi4 microcomputers for decision making, and nod-RED dashboard which runs locally on a Raspberry Pi 4to provide a friendly end-user interface. The system also uses the Message Queuing Telemetry Transport (MQTT) communication protocol through Wi-Fi and completely relies on the local devices in the architecture and does not need cloud computing services. The proposed system provides two different kinds of automation, i.e., safety automation for the safety of different devices with advanced features, and energy automation. The proposed system is also able to provide humidity control inside a room and to track and count the available resources in any facility. The proposed system is low cost, scalable, and can be used in any building. Simulation results show that the proposed system is highly efficient

Instruments and risks in islamic financial institutions / Rashidah Abdul Rahman, Fauziah Hanim Tafri and Yaseen Al Janadi.

The nature of specific risks facing Islamic Financial Institutions (IFIs) together with the virtually unlimited number of ways available to them to provide funds through the use of combinations of the permissible Islamic modes of financing, profit and loss sharing (PLS) modes of financing and non-PLS, raises a host of issues among others in risk management. This paper presents and explains the different types of risks arising from Musharakah, Mudharabah, Murabahah, Salam, Istisna and Ijarah Islamic products. Further, it highlights how financial institutions that provide such Islamic financial contracts are exposed to several corresponding underlying risks, as well as how these risks are managed

The Determinants of Voluntary Risk Disclosures: The Case of Shariah Compliant Companies in Malaysia

Risk reporting is essential in notifying investors on how companies manage the risks they engage in. Even though companies nowadays release information through press releases, corporate websites, and other forms of communications, they still have to disclose more information in their annual reports. The objective of this study is to examine the determinants of voluntary risk disclosures of Shariah compliant companies (ShCCs) in Malaysia, focusing on the religiosity factor and the ownership structure. A quantitative analysis using secondary data was employed as a method to assess the annual reports of 116 Shariah compliant companies in Malaysia for the financial years of 2012 and 2013. The findings of this study reveal that the voluntary risk disclosures in ShCCs on average are not more than sixty per cent. This study indicates no relationship between the religiosity of board members and directors’ ownership to the level of voluntary risk disclosure. More importantly, this study finds the relationship between the existence of government ownership and voluntary risk disclosure in ShCCs. The study adds value to the current body of knowledge in voluntary risk disclosures and suggests the importance of risk management information in the annual reports of ShCCs as Malaysia grows as a leading country in the Islamic economy

Identification of a cytokine network sustaining neutrophil and Th17 activation in untreated early rheumatoid arthritis

© 2010 Cascão et al.; licensee BioMed Central Ltd. This is an open access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/2.0), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.Introduction: Rheumatoid arthritis (RA) is a chronic inflammatory autoimmune disease characterized by sustained synovitis. Recently, several studies have proposed neutrophils and Th17 cells as key players in the onset and perpetuation of this disease. The main goal of this work was to determine whether cytokines driving neutrophil and Th17 activation are dysregulated in very early rheumatoid arthritis patients with less than 6 weeks of disease duration and before treatment (VERA). Methods: Cytokines related to neutrophil and Th17 activation were quantified in the serum of VERA and established RA patients and compared with other very early arthritis (VEA) and healthy controls. Synovial fluid (SF) from RA and osteoarthritis (OA) patients was also analyzed. Results: VERA patients had increased serum levels of cytokines promoting Th17 polarization (IL-1b and IL-6), as well as IL-8 and Th17-derived cytokines (IL-17A and IL-22) known to induce neutrophil-mediated inflammation. In established RA this pattern is more evident within the SF. Early treatment with methotrexate or corticosteroids led to clinical improvement but without an impact on the cytokine pattern. Conclusions: VERA patients already display increased levels of cytokines related with Th17 polarization and neutrophil recruitment and activation, a dysregulation also found in SF of established RA. 0 Thus, our data suggest that a cytokine-milieu favoring Th17 and neutrophil activity is an early event in RA pathogenesis.This work was supported by a grant from Sociedade Portuguesa de Reumatologia/Schering-Plough 2005. RAM and RC were funded by Fundação para a Ciência e a Tecnologia (FCT) SFRH/BD/30247/2006 and SFRH/BD/40513/2007, respectively. MMS-C was funded by Marie Curie Intra-European Fellowship PERG-2008-239422 and a EULAR Young Investigator Award

Multi-Target Drugs: The Trend of Drug Research and Development

Summarizing the status of drugs in the market and examining the trend of drug research and development is important in drug discovery. In this study, we compared the drug targets and the market sales of the new molecular entities approved by the U.S. Food and Drug Administration from January 2000 to December 2009. Two networks, namely, the target–target and drug–drug networks, have been set up using the network analysis tools. The multi-target drugs have much more potential, as shown by the network visualization and the market trends. We discussed the possible reasons and proposed the rational strategies for drug research and development in the future

Ownership Structure and Firm Performance in the Middle East: A Meta-Analysis

This paper applies a meta-analysis method to investigate the moderating impact of political stability on the relationship between ownership identities and firm performance in the Middle Eastern countries (i.e., the Arab World). The study collected 105 correlations from 46 previous studies with 11,999 observations in 11 Middle Eastern countries. The findings show that most ownership identities such as institutional ownership, government ownership, inside ownership, and family ownership have positive relationship with firm performance. Another interesting finding shows that in countries with political instability, the level of ownership identities such as institutional ownership, foreign ownership, and inside ownership play an important role in controlling companies, which leads to firm performance. The meta-analysis results reveal that different levels of political stability have an impact on the role of the majority shareholders. The findings provide evidence that the performance of ownership identities in the Middle Eastern countries remains effective, especially with the existence of fair protection rights and political stability

Al-Khtabati wan funnal al- tabliqh

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