Stakeholder’s financial relations and bank business management efficiency: evidence from Ukraine
The paper is devoted to development of evaluation of the bank business management efficiency in the system of financial relationships of their stakeholders. Non-achievement the required level of value-added banking business we divided into two groups: 1) associated with irrationality of constructing system of financial relations with their stakeholders; 2) related to the common for homogeneous group of banks problems with adaptation to national con-ditions of conducting banking business. In a sample of 1228 Ukrainian banks, we find that domestic banks are more adapted to the conditions of banking system although in long run foreign banks are more efficient.
- Co-auteur(s) Obeid H., Brychko M.
- Revue(s) Financial Markets, Institutions and Risks, vol. 1, issue 2. PP.12-29
Determinants of Islamic banking adoption in Tunisia: empirical analysis
Purpose – The purpose of this paper is to identify the main factors influencing the adoption of Islamic banking services in Tunisia.
Design/methodology/approach – The paper presents primary data collected by self-administered questionnaires involving a sample of 239 respondents located in Tunis city. Respondents were conventional banks’ customers who were actually non-users of Islamic banking. A descriptive statistical analysis was conducted to determine consumers’ awareness of Islamic banking.
Findings – The results revealed that Islamic bank reputation, relative advantage of Islamic banking and its compatibility with consumer religious beliefs, values, lifestyle and banking habits influence positively the intention to use it. However, it seems that perceived complexity and risk impact negatively the consumer intention to adopt this new financing system. The major finding of this study is that there is a general lack of consumer awareness about Islamic banking in Tunisia.
Practical implications – By identifying the drivers and inhibitors of Islamic banking acceptance among potential adopters, this research aim to help banks’ managers to target their actions and strategies more effectively.
Originality/value – This study is one of the earliest to be conducted on customers’ perception and willingness to adopt Islamic banking services in Tunisia. It makes a contribution to the Islamic banking adoption literature by extending and testing the diffusion innovation theory (Rogers, 2003) in the context of Tunisia.
Keywords Consumer behaviour, Developing countries, Behaviour, Banking, Consumer attitudes, Customer surveys
- Co-auteur(s) Kaabachi S.
- Revue(s) International Journal of Bank Marketing, vol. 34, issue 7, pp. 1069-1091.
- Classement(s) FNEGE 4, CNRS 4
Empirical Investigation Into Customer Adoption Of Islamic Banking Services In Tunisia
This paper seeks to identify the main factors influencing the adoption of Islamic banking by conventional bank customers in Tunisia. Based on a primary data collected by self-administered questionnaires involving a sample of 239 respondents located in Tunis City, the results of this study demonstrate that religious commitment, the amount of information held by consumers about Islamic finance, the relative advantage of Islamic banking and its compatibility with consumer values, lifestyle, and banking habits are predictors of its adoption. However, it is worth noting that social influence does not have any effect on customers’ decisions to use this new banking service. The findings also reveal that there is a general lack of information about the Islamic banking among Tunisian consumers. By identifying the drivers of Islamic banking acceptance among potential adopters, this paper aims to help bank managers target their actions and strategies more effectively.
- Co-auteur(s) Kaabachi S.
- Revue(s) The Journal of Applied Business Research, vol.32, n°4. PP. 1243 - 1256
- Classement(s) FNEGE 4, CNRS 4
Bank-Insurance Integration Level In Ukraine: Science-Methodological Approach
The methodological approach to the assessment of bank-insurance integration (BII) level in Ukraine based on the calculation of integration index using of binary characteristics and matrix analyses instruments is given in the following paper. The proposed approach considers the presence of part (full) integration of bank capital and insurance companies, and the connection between these financial intermediaries in spheres of life and risk insurance in terms of the absence of their mutual participation in capital (bancassurance). Our findings evidence a low value of BII level in Ukraine during 2002-2013 in conditions of the gradual integration processes’ acceleration and the appearance of new innovative forms of bank-insurance cooperation.
- Co-auteur(s) BEN BOUHENI F., BAGMET K
- Revue(s) The Journal of Applied Business Research, vol.31, n°6, pp. 1279-1293.
- Classement(s) FNEGE 4, CNRS 4
La banque islamique en Tunisie : freins, motivations et attentes de la clientèle bancaire
Information technology sector and equity markets: an empirical investigation
The aim of this article is to study linkages between equity and information technology sector prices. We thus investigate the price adjustment dynamics of the Information Technology (IT) sector in response to the 2007–2009 worldwide market shock for two representative developed countries (France and the USA). Using a Vector Autoregression (VAR) methodology and different econometric specifications of a smooth transition Error-Correction Model (ECM), we find significant price reactions from the USA and French IT sectors to changes in the global capital markets over the period between 11 February 2005 and 9 July 2009. The IT price response is however stronger for the USA than for France. The empirical results suggest that the IT price convergence process towards equilibrium is typically asymmetric and nonlinearly mean-reverting for the USA.
- Co-auteur(s) JAWADI F., JAWADI N., NGUYEN D.
- Revue(s) Applied Financial Economics, vol.23, issue 9, pp. 729-737.
- Classement(s) FNEGE 4, CNRS 4, HCERES C
The Short- And Long-Term Performance Of Privatization Initial Public Offerings In Europe
This article investigates the return behavior of privatization initial public offerings (PIPOs) in Europe over both the short- and long-run horizons. Using data from a sample of 162 PIPOs over the period 1986-2008, we show that European PIPOs outperform, in terms of risk-adjusted abnormal returns, a benchmark market index and a portfolio composed of 162 European private IPOs, regardless of the horizon of analysis. Our results are important for both investors and policymakers with respect to their investment and privatization decisions, and also allow a better understanding of the financial performance behavior of the privatized state-owned enterprises.
- Co-auteur(s) NGUYEN D., HAMDI H.
- Revue(s) The Journal of Applied Business Research – July/August 2013, vol 29, n°4, pp. 1189-1198.
Evaluating the Productive Efficiency of Islamic and Conventional Banks in GCC Countries
The purpose of this study is measuring the productive efficiency of Islamic and conventional banks operating in the GCC over the period 2005-2010. Data Envelopment Analysis was used to measure technical efficiency, allocative efficiency and cost efficiency. No significant differences were found between Islamic and conventional banks in terms of productive efficiency. Besides, the findings indicate that the efficiency of banks in our sample is determined by internal and external factors such as size, risk, profitability and the economic environment.
- Co-auteur(s) EL MOUSSAWI C. , SALLOUM A.
- Revue(s) Journal of Money, Investment and Banking, Issue 25 September, 2012, pp.85-98.
Using IFRS to Understand the impact of the Privatization of the Firm’s Value: Evidence from Europe
The aim of this paper is to assess the impact of privatization on the performance of privatized firms. The sample included 56 European firms over the period of 1996-2005. The methodology involved (1) comparing the ratios of privatized firms three years before and after privatization (Megginson et al., 1994) and (2) comparing the ratios of privatized firms with a sample of similar private firms three years before and after privatization (Albouy & Obeid, 2007). The ratios used in the study were consistent with the International Financial Reporting Standards. The results indicate that privatization had a positive impact on the ratios, although the effect was not statistically significant.
- Co-auteur(s) PIGET P.
- Revue(s) Investment Management and Financial Innovations, Volume 9, Issue 2, 2012
The Impact of Stock Exchange Performance of Selected French Privatization Firms
The impact of privatization on the operational performance of privatized firms is a subject that has been of great interest in recent finance literature. Most of the existing works on this area use conventional variables and compute financial ratios of profitability, productivity, investment, debt and employment in analyzing data for financial management.
This paper however attempts to determine the effects of privatization on the stock performance of privatized firms, and adopts a comparative approach between stock exchange performance of the privatized firms and the private firms’ benchmarks, using data from the period of 1986 to 2005. It is observed from such an approach that the privatized firms have a remarkably higher performance compared to the private firms.
- Co-auteur(s) BHATTI I.M.
- Revue(s) Investment Management and Financial Innovations, vol. 8, issue 1, pp.42-52.
Evaluating the Productive Efficiency of Islamic Banking in GCC: A non Parametric Approach
The purpose of this paper is to propose a method to evaluate the productive performance of Islamic banks operating in the GCC region, over the period 2005-2008. Thus, we evaluate the productive performance of Islamic banks with the technique of productive efficiency proposed by Farrell (1957). We use the method of data envelopment analysis (DEA) to decompose the productive efficiency into technical efficiency, allocative efficiency and cost efficiency. The application of this technique on a sample of 23 Islamic banks reveals that the technical inefficiency and allocative inefficiency increased bank costs, on average, by about 14% and 29% respectively. In addition, the results show that internal and external factors seem to contribute significantly to the evolution of efficiency scores of Islamic banks operating in the GCC region.
- Co-auteur(s) EL MOUSSAWI C.
- Revue(s) International Research Journal for Finance and Economics, Issue 53, pp. 178-190.
L’impact des privatisations sur la performance des entreprises françaises
Les déficits budgétaires de nombreux pays, la faiblesse des performances financières des entreprises publiques et les développements récents de la recherche en finance incitent de nombreux États à céder leurs entreprises au secteur privé. Après un panorama du mouvement de privatisation dans le monde et particulièrement en France ainsi qu’un exposé des principaux courants théoriques qui confortent ce mouvement, cet article expose les résultats d’une étude empirique réalisée sur les privatisations françaises. Au cours de la période 1986-2004, nous trouvons que le transfert de propriété du secteur public au secteur privé a une incidence positive sur la performance des entreprises privatisées. La performance est évaluée à partir d’analyses de ratios de rentabilité, de productivité, d’investissement et de financement.
- Co-auteur(s) ALBOUY M.
- Revue(s) Finance, Contrôle, Stratégie, vol 10, n°1, pp.6-37
- Classement(s) FNEGE 3, CNRS 3, HCERES B
L’envol de la dette publique à l’origine de la crise libanaise
La gouvernance et l’évaluation du degré de la confiance des clients envers les produits financiers islamiques
Il ressort que certains contrats des banques islamiques et le modèle occidental du capital risque sont basés sur le même concept. La banque comme la société de capital risque apporte le financement, partage le risque et le gain, exige des critères de sélection des investisseurs, fait des analyses rigoureuses de la situation économique en général et du secteur du projet en particulier, fait des études de marché, supervise le déroulement du projet, sort en général au bout d’une certaine durée etc. Au sein d’un système économique islamique, ces contrats comme la musharaka, l’Istisna’a peuvent assurer un financement conséquent aux nouveaux projets et assurer un décollement économique comme celui qu’a stimulé le capital risque dans certains pays occidentaux. Toutefois, les contrats participatifs des banques islamiques ne peuvent contribuer à eux seuls à un financement suffisant des entrepreneurs. D’autres institutions plus adaptées à supporter les risques élevés doivent être développées, en l’occurrence des sociétés de capital risque islamiques qui opèrent en synergie avec les banques islamiques et dans le cadre d’un marché boursier et secondaire évolués.
- Editeur(s) Les Editions du Net
- Co-auteur(s) SLIMENE N., SGHAIER A.
L’aide des pays du Golfe est peu corrélée à des questions économiques
Editorial association’s activities & Affiliations
- Member of the Editorial Board: “ Journal of Risk and Financial Management”
- Member of the Editorial Board : “ Journal of Quantitative Methods”
- Member of the Editorial Board: “Journal of Governance and Regulation”
- Associate Editor: “Journal of Applied Business Research”
- Member of the Editorial Board: “Investment Management and Financial Innovations”
- Member of “AACSB” committee at IESEG and Ebs – Paris
- Member of “EQUIS” committee at Ebs – Paris
- Member of “AOL” committee at Ebs- Paris