Digital Commons Network^™

National Cultures And Capital Structure: Evidence From The Emerging Markets, Ahmad E. Shahin, Laila El Adly, Eman Barr, Islam Fathy, Ahmed Taha

Papers, Posters, and Presentations

This paper identifies the combinations between Hofstede’s six cultural aspects and four selected firm-specific factors, which have a significant impact on the choice of capital structure, in 15,821 listed companies from 34 countries in the emerging market, for the period 2012 – 2014. Thirty seven independent variables and one dependent variable have been tested using regression analysis. It has been concluded that the combinations that have a significant impact on the choice of capital structure (leverage) in the emerging markets were [Cultural – Firm-specific]:

1. Power distance – cash flows, cost of debt
2. Individualism – cash flows, cost of debt
3. Masculinity …

Enhancing The Productivity, Competitiveness And Independence Of Productive Cooperatives In Egypt / تحسين الانتاجية والتنافسية والاستقلالية للتعاونيات الإنتاجية بمصر, Yomna Mohamed Gamil Esmat

Papers, Posters, and Presentations

This paper sheds light on the conceptual framework of productive cooperatives, identifies the distinctive characteristics of this type of enterprises and examines the economic and social relative importance of the sector. Based on the importance of the cooperatives sector at the international level, and because of the many local efforts in Egypt that are aimed at promoting cooperatives at large, this paper identifies areas which need to be attended to by suitable legesilative and policy support and also examines selected international experiences, in order to draw lessons learned that can positively reflect on the situation in Egypt.