Aly Salama

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Verified

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• PhD
• Full Professor in Accounting & Corporate Governance at Northumbria University

This paper scrutinizes the interconnections between debt capital raising, firm risk of default, and the presence of a former CEO who now serves as a board chairperson, referred to as the Chair-Former-CEO (CFC). Employing a sample of the largest non-financial firms within the US S&P 100 from 2002 to 2018, our results reveal that, when compared to th...

This study empirically examines the impact of board composition on firm sustainability within Gulf Cooperation Council (GCC) countries from 2017 to 2021. Using a sample of 135 non-financial, publicly listed GCC firms (364 firm-year observations), this article investigates the effects of gender diversity, board size, independence, skills, and the pr...

We investigate the influence of skilful utilization of social interaction dynamics on creating reputations for UK Higher Education Institutions (HEIs) during public funding cuts and scrutiny. The paper employs a content analysis method and follows an empirical design with a unique sample of 148 UK HEIs. To gauge reputation, we rely on participatory...

The UK government has taken the lead in accelerating the capacity of higher education to engage with sustainability accounting and adopting a novel systematic approach toward a collective implementation of and contribution to Sustainable Development Goals (SDGs). The UN SDG 16 “Peace, Justice & Strong Institutions” promotes the (re)building of effe...

This article investigates the relationship between corporate governance structures and financial flexibility for conventional and Islamic banks in the Middle East and North Africa (MENA) region. We construct a novel financial flexibility index (FFI) for the banking sector and examine the impact of the Shari'ah supervisory board (SSB), board size, a...

In emerging economies, economic development and pro-social policies are closely entwined. Multinational corporations have presented a positive image of their economic and social activities to investors and society to justify exploiting countries' natural resources. This study examines the Arabian American Oil Company's (Aramco) pro-social/corporate...

Former CEOs who stay on the board as Chairmen (i.e., Chair-Former-CEO or CFCEO) often play a vital role in monitoring and advising the incumbent CEOs. However, their influence on firm performance remains under-investigated. This paper aims to offer new insights into the impact that such a role can have by examining corporate investment in social an...

We examine the association between internal corporate governance mechanisms (i.e., the board of directors and audit committee) and the information value of bank earnings. We comparatively assess this association across different bank types—Islamic versus conventional banks. We also investigate the mediating effect of Shariah governance. The paper u...

Purpose This study examines the association between internal corporate governance mechanisms (i.e. board of directors and audit committee) and the information value of bank earnings. The authors comparatively assess this association across different bank types, Islamic versus conventional banks. The authors also investigate the mediating effect of...

Female directors are under-representative in the technology sector. There is a distinct lack of research into the relationship between board gender diversity and environmental performance, particularly in US high-tech firms. This study fills the gap in the literature by exploring the importance of female directors and executives in environmental de...

This study examines the moderating role of a firm's environmental performance, measured by its environmental strength and concern ratings, on the influences of Twitter dissemination of carbon-related information (Carbon_Tweets) on a firm's cost of equity (COE). Our key focus is to provide an insight as to whether different levels of environmental s...

Purpose Using legitimacy and impression management theories, this study examines whether there is evidence of Corporate Social Responsibility (CSR) decoupling by critically analysing the cases of three Financial Times Stock Exchange (FTSE) 350 airline companies (British Airways, WizAir, and Easyjet). The study focusses on three CSR aspects: communi...

Undoubtedly, climate change has been a growing and substantial concern to communities and stakeholders. It is one of the biggest challenges facing the world. During his participation in the COP26 in Glasgow, British prime minister Boris Johnson said that we say goodbye to whole cities when the temperature rises only 4 degrees. Diverse stakeholders...

Motivated by the managers' social norms and religious orientations, this study offers new avenues for investigating the effect of internal governance in curbing earnings management. We assess whether Islamic and conventional banks' internal governance mechanisms (i.e., boards of directors and audit committees) could differentially mitigate earnings...

By considering the theoretical association between corporate transparency, information asymmetry and firm risk, this paper investigates the relationship between corporate carbon disclosure and firm risk in the UK context. Using a sample of FTSE350 firms with Carbon Disclosure Project based year-observations from 2007-2015, we find that enhanced vol...

This study examines the possible opposing effects of the board function of busyness (i.e. the presence of busy independent non-executive directors serving on multiple boards) on bank dividend payout patterns between two alternative payouts models (i.e. conventional and Islamic). Using an international sample for listed banks during the periods of 2...

This study comparatively assesses the influence of board busyness (i.e., multiple directorships of outside directors) on stock market valuations of both Islamic and conventional banks. For a sample of listed banks from 11 countries for the period 2010–2015, results show that board busyness is differentially priced by investors depending on the bank...

The Enron debacle and the Global Crossing bankruptcy have raised particular concerns of investors about the effectiveness of directors' scrutiny and their compensations. This study, therefore, examines whether the board of directors' compensation schemes affect stock market valuations for banks within an international context. We employ a sample of...

This study examines the impact of board busyness (i.e. multiple directorships of outside board members) on the performance and financial stability of banks in a dual banking system (Islamic and conventional). We consider banks from 14 countries for the period 2010–2015. The results provide strong evidence that conventional banks with busy boards ex...

In corporate boardrooms around the world, climate change has quickly risen to become a major issue, matching public concern. Recently, corporate management has encountered stakeholder pressure to disclose more information about their carbon profile and their plans to improve it. They have also been challenged to find the appropriate strategy for ca...

The outcome of carbon disclosure, the importance of which has grown remarkably in recent years to become a strategic decision-making issue for organisations in today's competitive environment, is a subject of lively debate but remains under-researched in the environmental accounting literature. This study is motivated by this research gap and the g...

This study aims to investigate (1) the effects of the creation of a board-level risk committee (RC) and the designation of a chief risk officer (CRO) on the risk-taking practices undertaken by financial institutions and (2) whether these mechanisms improve the risk management effectiveness of both conventional banks (CBs) and Islamic banks (IBs). We...

In the context of the Depository Institution Management Interlocks Act of 1978 (Interlocks Act), we investigate the structure and implications of the professional connections among bank directors. Based on a hand-collected unique dataset for a sample of 168 US commercial banks listed continuously from 2009 to 2015, we find that the barriers set out...

Reducing information asymmetry between investors and a firm can have an impact on the cost of equity, especially in an environment or times of uncertainty. New technologies can potentially help disseminate corporate financial information, reducing such asymmetries. In this paper we analyse firms’ dissemination decisions using Twitter, developing a...

This study examines whether firms can influence their cost of equity (COE) by broadly disseminating their carbon information over Twitter. We study firms' dissemination decisions of carbon information by developing a comprehensive measure of carbon information that a firm makes on Twitter, referred to as iCarbon. Using a sample of 1,737 firm‐year o...

Purpose Since 2005, wide-ranging concerns have been raised about misleading revenue recognition practices, especially during and after the 2008–2009 global financial crisis. There is a lack of research into the relationship between corporate governance (CG) mechanisms and premature revenue recognition (PRR). The paper aims to discuss these issues....

The 2007 financial crisis was the largest shock to the financial markets not only to the United States but the world as a whole since 1930. Lack of information and confusion in financial markets causes sharp declines in banks capitalization. The link between stock price behavior and the content of social disclosure is lacking in the literature and...

Purpose The purpose of this paper is to examine the determinants of the volume of environmental disclosures and their quality, with particular focus on the role of audit committees (ACs) and the effects of the Smith report recommendations for the UK Corporate Governance Code. Design/methodology/approach Quantitative large sample analysis of UK FTS...

We examine the impact of the volume and quality of environmental disclosures in corporate annual reports on the creation and sustenance of firms’ reputation for environmental responsibility, and the extent to which these effects are enhanced by the quality of audit committees. Using a sample of UK FTSE350 companies from 2007-2011, we find evidence...

The paper examines the role of environmental disclosures and their effect on the accuracy of financial analysts’ forecasts. Specifically it examines and compares the effects of the volume and quality of disclosure. In doing so, it distinguishes between ‘greenwash’ and more specific, quantified and comparable disclosures that have the potential to p...

The vast majority of prior research tackling the impact of audit committee effectiveness (ACE) on financial reporting quality (FRQ) has been conducted in the United States (US) where rules-based accounting standards exist, and before the 2008 global financial crisis. Targeting the United Kingdom (UK) principle-based context, we examine the impact o...

Research into the impact of government ownership on the financial performance of listed companies typically assumes the government to be a monolithic entity and fails to consider that government ownership rights are administered by different types of government organizations. Exploring the financial performance of government controlled listed compa...

There is a distinct lack of research into the relationship between corporate governance and corporate social responsibility (CSR) in the banking sector. This paper fills the gap in the literature by examining the impact of corporate governance, with particular reference to the role of board of directors, on the quality of CSR disclosure in US liste...

This study examines the impact of audit committee (AC) characteristics on earnings management (EM), of FTSE 350 companies, for the fiscal years 2006 and 2007. Characteristics such as number of members and meetings; independence; directors’ remuneration; outside directorships; various types of financial expertise; AC members’ ownership; regulated se...

The question of how an individual firm's social and environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decrease its market risk or is environmental performance just a disadvantageous cost that increases such risk levels for these fi...

Purpose – The purpose of this paper is to explore how corporate environmental reputation (CER) affects the association between current annual stock returns and current and future annual earnings. In particular, it seeks to examine the potential usefulness of CER to investors in predicting future earnings. Design/methodology/approach – The paper us...

CORPORATE SOCIAL RESPONSIBILITY & IINTERNATIONAL DEVELOPMENT: Is business the solution? Michael Hopkins (London: Earthscan) 2007 hbk, 2009 pbk Edition, 244pp, £65.00 hbk, £19.99 pbk

Purpose The purpose of this paper is to examine the association between corporate environmental disclosure (CED) and earnings management (EM) and the impact of corporate governance (CG) mechanisms on that association. Design/methodology/approach The paper uses performance‐matched discretionary accruals (DA) as a measure of EM. The paper also uses...

The paper sets out a theoretical model linking stock market financial risk to labour market conditions, including labour intensity and the risk arising from the specification of labour contracts. A value added analysis is conducted combining national and firm level accounts data to examine the relationship between the share of value and the share o...

This paper offers updated evidence on social disclosure trends in Egypt. It examines whether Egyptian companies care about the community as an important stakeholder in their Internet social reporting. In doing so, the paper employs content analysis to measure and explore the social responsibility self-disclosure practices of major Egyptian companie...

This paper was motivated by the current debate over the voluntary approach to environmental disclosures in corporate annual reports and assesses the effectiveness of the current policy of voluntarism in the UK. A brief review of the relevant theories, which explain why managers might choose to voluntarily provide environmental responsibility inform...

The paper derives operating and financial measures of leverage and tests their association with market based measures of equity risk. It is the first such study to use purely accounting-based data to derive the leverage measures. In line with previous literature it conducts a new test on the relative importance of operating and financial leverage....

Conventional estimates of the relationship between corporate environmental performance (CEP) and corporate financial performance (CFP) are typically based on simple OLS regression. In this paper, I test whether this relationship holds using median regression analysis that is more robust to the presence of outliers and unobserved firm heterogeneity....

The theoretical framework of this paper integrates quality-signalling theory and the resource based view of the firm to test the differential effects of the quantity and quality of environmental disclosures on the firm's environmental reputation. Uniquely, the study uses a quality-adjusted method of content analysis, so that sentences are not merel...

Thesis (Ph.D.)--University of Nottingham, 2003.