Khaled Dahawy

American University in Cairo, School of Business, Faculty Member

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Papers by Khaled Dahawy

Do Egyptian listed companies support SDGs? Evidence from UNCTAD guidance on core indicators disclosures

Corporate Governance and Sustainability Review, 2021

This paper provides an exploratory analysis of the extent of Sustainable Development Goals disclo... more This paper provides an exploratory analysis of the extent of Sustainable Development Goals disclosure (SDGD) by the top 30 Egyptian companies. We use the 33 core indicators of the United Nations Conference on Trade and Development (UNCTAD), which span economic, institutional, social, and environmental areas. Overall, the results suggest that SDGD in Egypt is still gaining traction, as indicated by a relatively low average disclosure score of only 25%, which translates to approximately eight indicators. We also document a variation in SDGD among the four areas, where disclosure addressing economic and institutional indicators is higher than that of social and environmental areas. This variation could be attributed to the differential regulatory and legal intensity. Disclosure is most noticeable for taxes, employment, women empowerment, financial transparency, corporate governance, and energy. We argue that Egypt has the legislative infrastructure and clear political will from the state to support sustainable development. However, there is a need for coordinated awareness efforts to establish a culture of sustainable development among various stakeholders, including businesses. Finally, there should be a stronger conviction regarding the importance of information sharing as well as comprehensive reporting standards and enhanced regulatory enforcement. To the best of our knowledge, this is the first paper to address the status of SDGD in Egypt. Accordingly, there is a need for future research that analyzes both the determinants of SDGD and its consequences.

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The relationship between privatization culture adoption of international accounting standards and accounting in Egypt

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2013 review of the implementation status of corporate governance disclosures: Case of Egypt

Corporate Ownership and Control, 2014

This report is a case study of corporate governance disclosure in Egypt. The study employs the be... more This report is a case study of corporate governance disclosure in Egypt. The study employs the benchmark of good practices in corporate governance disclosure developed by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR). This benchmark consists of fifty two disclosure items covering five subject areas and is based on a sample of the top 29 listed companies in Egypt. This study is complimentary to an earlier study conducted in 2007: 2007 Review of the implementation status of corporate governance disclosures: case study Egypt. This report compares the results of the current study to the 2007 study. This study finds the average disclosure level is less than half of the items in the ISAR benchmark. While nine items in the ISAR benchmark were disclosed by more than two-thirds of the companies in the study, forty items were disclosed by less than half. The absolute number of disclosure items found for each company ranged from 5 to 43, indicating a high level of variability between 'best practice' companies and companies with minimal disclosure practices. The study concludes that while the sample has relatively high rates of disclosure for few items, and the average disclosures in 2010 almost doubled the 2005 average disclosures in Egypt for several categories, they are still low levels compared to the average emerging markets levels. Policy options discussed include penalizing companies for undisclosed items, and providing education and training for executives and directors to enhance the awareness of the rapidly evolving regulatory environment, as well as the underlying importance of corporate governance disclosure.

format_quoteCorporate governance disclosure in Egypt improved, with 2010 averages doubling from 2005, yet still lag behind emerging market levels.format_quote

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EGYTRANS Successful Succession

El Khazindar Business Research and Case Center, The American University in Cairo School of Business eBooks, 2022

External audit and tax evasion: evidence from India

Applied Economics, Sep 14, 2022

The State of Accounting in Egypt: A Case

Social Science Research Network, 2011

Egypt, one of the largest Middle East economies, is beginning its transition to a market economy.... more Egypt, one of the largest Middle East economies, is beginning its transition to a market economy. As a developing nation, Egypt has witnessed several changes in its accounting system during last two decades. This case provides an analysis of the Egyptian accounting system with emphasis on the development of the Egyptian Accounting Standards. In addition, this case makes recommendations for the reformation of the Egyptian accounting system.

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The effect of earnings-based analysis 'change over financial analysts' investment decisions in Egypt

International journal of economics and accounting, 2012

This paper uses a cross-sectional approach to examine whether earnings-based analysis change ΔEBA... more This paper uses a cross-sectional approach to examine whether earnings-based analysis change ΔEBA affects financial analysts investment decisions in EGYPT. We measure ΔEBA's effect by the positive correlation of firm's earnings quality change represented by change in total accruals, total current accruals and cash flow from operations, and by firm's earnings persistence change ΔEP, earnings power change ΔEP, and earnings valuation represented by changes in price/earnings and price/book ratios, with its change in stock prices. We find that change in stock prices which is used as an indication for financial analysts' investment decisions is affected by earnings quality change represented by changes in total and current accruals and cash flows from operations, as well as by earnings valuation represented by price earnings ratio change.

Strategy of Accounting Automation

IGI Global eBooks, Jan 18, 2011

How numeracy mediates cash flow format preferences: A worldwide study

The International Journal of Management Education, Jul 1, 2018

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External Audit and Tax Evasion: Evidence from India

Review of sustainable development goals disclosures in EGYPT

International Accounting and Reporting Issues, 2021

An empirical analysis of corporate governance structures and voluntary corporate disclosure in volatile capital markets: the Egyptian experience

International Journal of Accounting, Auditing and Performance Evaluation, 2011

This paper examines the level and determinants (ie ownership structure, board composition and aud... more This paper examines the level and determinants (ie ownership structure, board composition and audit committee presence) of voluntary corporate disclosure in the annual reports of the largest 100 companies listed on the Egyptian stock exchange (EGX). Our results indicate that overall voluntary disclosure was low at just 13.43% with a large variation range. This score places Egypt at a lower level than other emerging capital markets (eg Singapore, Hong Kong and Malaysia). The variances of these results support the need for individual ...