Mehdi Nekhili

Mehdi Nekhili
Université du Maine · School of Law, Economics, and Business Administration

Professor

About

92
Publications
53,879
Reads
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1,726
Citations
Introduction
Mehdi Nekhili holds a PhD degree from the University of Burgundy in France. He is now Full Professor of Finance at Le Mans University (France). His main research interests include corporate social responsibility, auditing, and corporate governance. He has published several papers in various refereed journals. He has also many chapters in books.and has edited a book entitled “International Banking Strategies”.
Additional affiliations
September 2017 - September 2017
Université du Maine
Position
  • Professor
March 2015 - present
ICD International Business School
ICD International Business School
Position
  • Affiliated Professor
March 2015 - present
Institut International du Commerce et du Développement
Institut International du Commerce et du Développement
Position
  • Affiliated Professor

Publications

Publications (92)
Article
We use a unique dataset from a sample of 85 French firms over the period 2002–2008 in order to answer the following questions: Is there any relation between the use of auditors with a brand-name reputation for providing high-quality audit reports and the number of related-party transactions (RPTs) reported to outside shareholders? And, how does a m...
Article
Full-text available
We evaluate the relationship between the appointment of women to CEO or Chair positions and firm performance, and shed light on the differences between family and nonfamily firms. By using a propensity score matching approach on a sample of 394 French firms over the period 2001-2010, we find major discordances between women’s leadership style and f...
Article
Using a sample of 394 French firms for the period of 2001 to 2010, we study the relationship between female directorship and firms’ accounting (ROA and ROE) and market-based (Tobin's Q) performance. We find that female directorship significantly increases ROA and ROE, and significantly decreases Tobin's Q. We postulate that these relationships are...
Article
This study empirically investigates the impact of auditor gender on audit fees in a unique audit regulatory environment, namely France, where joint audit is mandatory by law. Apart from the fact that male and female auditor engagement partners have distinctive behaviors and style, the question also arises at to whether coordination problems between...
Article
We investigate the effect of board (audit committee) gender diversity on audit fees in the French context. We also examine whether the relationship between the proportion of female directors and audit fees is moderated by the enactment of the gender quota law in 2011. We use the system GMM estimation approach on a matched sample of French firms lis...
Article
Full-text available
Our study examines whether gender-diverse engagement partners constrain unethical earnings management behavior in a French mandatory joint audit setting. The investigation of the joint audit setting, by raising concerns about audit team organization and management, provides new insights into how gender-diverse audit partners contribute to the effec...
Article
We use a sample of French firms over the period 2001-2017 to investigate the relationship between board gender diversity and related-party transactions (RPTs). Although some of these transactions are efficient, RPTs are usually perceived negatively by outsiders because of the existence of conflict-of-interest transactions deemed to be value-destroy...
Article
We examine the impact of two differing types of employee board representation (i.e., labor board representation and employee shareholder board representations) on environmental, social, and corporate governance components of ESG performance and the moderating role of each type of employee board representation on the relationship between ESG perform...
Article
L’article analyse le rôle modérateur que joue l’assurance RSE, en tant que mécanisme de gouvernance axé sur le développement durable, dans la relation entre le reporting volontaire en matière de responsabilité sociale et la valeur de marché de l’entreprise. À partir des données recueillies auprès d’un échantillon d’entreprises françaises du SBF 120...
Article
Il est souvent souligné que la présence d’administrateurs salariés améliore l’efficacité du travail du conseil d’administration (CA) et contribue positivement au reporting RSE (responsabilité sociale de l’entreprise). Toute la question est de savoir si cette présence est susceptible d’affecter la valeur boursière qui témoigne de la réaction du marc...
Article
Purpose This paper aims to investigate whether providing voluntary external assurance on voluntary environmental information by firms operating in environmentally sensitive industries (ESI) is relevant in terms of market value. It also examines how various characteristics of assurance statements (i.e. level of assurance, scope of assurance and prov...
Article
In this paper, we examine the extent to which the appointment of employees to the board of directors influences market perceptions of environmental, social and govern-ance (ESG) performance. Using a sample of French firms listed on the SBF 120 index from 2007 to 2017, we find that investors react positively to ESG performance but negatively to the...
Article
L’article analyse la relation entre communication environnementale et performance boursière en prenant en considération l’effet modérateur de la performance environnementale. Cette relation a donné lieu à de nombreuses publications académiques et empiriques qui aboutissent à des résultats contrastés. En effet, la divulgation environnementale est cr...
Article
Full-text available
Reporting environmental commitments to customers: what effects on the assessment of commercial performance ? Compliance with the needs of primary stakeholders (employees, customers, suppliers, etc.) leads firms to report on their environmental commitment, which affects their future earnings. Among the primary stakeholders, customers are considered...
Article
This paper aims at examining the relationship between the board composition and corporate social responsibility (CSR) of a sample of listed financial entities, discussing the reasons driving these entities to disclose CSR information. We hypothesise that there is a positive association between outside (institutional and independent directors) and f...
Article
Based on the fact that shareholders respond to environmental initiatives according to their perception of the potential related benefits, this study investigates whether customer-related performance affects the value relevance of voluntary environmental reporting. This paper provides a better understanding of the circumstances under which sharehold...
Article
Environmental disclosure and financial performance of large French companies The aim of this paper is to analyze the relationship between environmental reporting and financial performance using a sample of large French SBF 120 companies over the period 2001-2010. The authors analyze the relationship by considering the moderating effect of the secto...
Article
The purpose of this paper is to illustrate the potential benefits for firms that report more on environmental activities, with regard to two important categories of stakeholders: shareholders and customers. To avoid the endogeneity problem, the authors apply the system generalized method of moments approach by estimating the relationship between en...
Article
Audit committee characteristics and the extent of reporting on internal control: the case of French companies Our study aims to investigate the relationship between the characteristics of the audit committee, voluntary implemented, and the extent of reporting on internal control. Using a sample of French companies listed in compartments A, B, and C...
Article
Full-text available
We apply the system GMM regression estimation approach to a matched sample of French firms listed on Euronext Paris during the period 2001–2010 in order to investigate the relationship between female directors and earnings management by considering their specific (statutory and demographic) attributes. We first find that the presence of female dire...
Article
We investigate the moderating role of family involvement in the relationship between corporate social responsibility (CSR) reporting and firm market value using a longitudinal archival data set in the French context. Our empirical results show that family firms report less information on their CSR duties than do nonfamily firms. However, market-bas...
Article
In this paper, we focus on voluntary corporate social responsibility (CSR) disclosure, and we test the extent to which the value relevance of CSR reporting is affected by the appointment of female directors. Using a sample of French listed companies belonging to the SBF 120 index from 2001 to 2011, we control for differences in firm characteristics...
Article
We apply the system GMM regression estimation approach to a matched sample of French firms listed on Euronext Paris during the period 2001-2010 in order to investigate the relationship between female directors and earnings management by considering their specific (statutory and demographic) attributes. We first find that the presence of female dire...
Article
This study investigates complementarities between components of the organizational design of franchising networks. We examine three components of governance, rarely distinguished as such in previous studies involving franchising: allocation of decision rights, performance measurement and incentives. We also analyze interdependencies between these v...
Article
Full-text available
The study aims to explain the determinants of banks’ choices of location of overseas activities and of market-entry mode (subsidiary, branch and representative office). Location of overseas activities and market-entry mode are considered as simultaneously determined. The determinants are based on the factors associated with the characteristics of t...
Working Paper
We test the relationship between the disclosure of corporate social information and firm performance according to whether the firm has female board members or not. The challenge of CSR reporting is to minimize stakeholder skepticism. Gender diversity, as an important part of corporate governance, may be used by stakeholders to assess the firm’s soc...
Article
Full-text available
This study attempts to add to the small body of existing literature relating Chief executive officer characteristics to earnings management. Our research was carried out on 153 French listed companies during 2008. Using discretionary accruals as a proxy for earnings management, we found a significant positive relationship between CEO characteristic...
Article
We investigate the impact of R&D narrative disclosure on market value of equity for a sample of French companies during the period 2000–2004. Using 3SLS estimation on a panel data of 98 French firms, we find, ceteris paribus, positive (but insignificant) association between R&D voluntary disclosure and the market value of equity. Both R&D intensity...
Article
Full-text available
Purpose – The purpose of this paper is to analyze the moderating effect of corporate governance and ownership features in lessening earnings management practices in a free cash flow (FCF) situation. A simultaneous equations model is developed to address endogeneity of the FCF variable. The Hausman test indicates that 3SLS is better specified than t...
Article
Full-text available
Cette étude porte sur les relations entre les mécanismes de gouvernement des entreprises et la divulgation volontaire d'informations. Les mécanismes traités englobent la présence d'un actionnaire principal, la présence des investisseurs institutionnels dans le capital, la participation du conseil dans le capital, la présence d'administrateurs indép...
Article
We investigate the impact of R&D narrative disclosure on the market value of equity for a sample of French companies during the period 2000–2004. Using 3SLS estimation on a panel data of 98 French firms, we find, ceteris paribus, positive (but insignificant) association between R&D voluntary disclosure and the market value of equity. Both R&D inten...
Article
Full-text available
We investigate the impact of R&D narrative disclosure on the market value of equity for a sample of French companies during the period 2000–2004. Using 3SLS estimation on a panel data of 98 French firms, we find, ceteris paribus, positive (but insignificant) association between R&D voluntary disclosure and the market value of equity. Both R&D inten...
Article
The use of ICT as a means of control in franchise networks Our paper examines the use of ICT as a control device in franchise networks. The results of a survey conducted among 90 French franchise owned by forty networks, stipulate that the deployment of ICT for franchisees control purposes is indicative of a potential strengthening both in terms of...
Article
Full-text available
We investigate the relationship between the composition of the audit committee and its diligence for 176 non-financial French companies having an audit committee during the period 2004–2008. In this environment of voluntary establishment of an audit committee, we measure the audit committee diligence jointly by the number of meetings and the attend...
Article
Full-text available
Audit committee diligence in French companies : an independence or competence issue ? We investigate the relationship between the composition of the audit committee and its diligence for 176 non-financial French companies having an audit committee during the period 2004–2008. In this environment of voluntary establishment of an audit committee, we...
Article
Full-text available
Besides the size of the external auditor, which is a major determinant, audit fees depend also on audit market characteristics, corporate governance and ownership. On the basis of a sample of 130 French listed companies during the 2004–2006 period, we present evidence of a “Big” auditor premium. The results highlight that the presence of a “Big” am...
Article
Full-text available
In spite of the extensive literature regarding the relationship between corporate internationalization and performance, questions still remain due to conflicting empirical results. Is this due to the diversity of the conceptualization of international profile? The results of statistical non-parametric tests obtained from a sample of 68 Euronext 100...
Article
Full-text available
In this article, we examine the factors determining the representation of women on boards of directors by considering three main questions. The first question deals with the relationship between characteristics of ownership and governance on one side, and female directorship on the other side. The second major question concerns the demographic attr...
Article
Full-text available
The paper aims to explain the choice of organizational forms by multinational companies (MNCs) when decentralizing abroad their R&D activities. We identify five main organizational forms: wholly owned green-field subsidiary, wholly owned acquired subsidiary, joint venture, cross-licensing agreements and unilateral licensing agreements. On the basis...
Article
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This paper studies the influence of ownership structure and board characteristics on earnings management practices in the context of concentrated ownership. Specifically, its purpose is to emphasize the importance of ultimate ownership and particular board features in France in mitigating the type of managerial opportunism that is evident in earnin...
Article
This paper studies the influence of ownership structure and board characteristics on earnings management practices in the context of concentrated ownership. Specifically, its purpose is to emphasize the importance of ultimate ownership and particular board features in France in mitigating the type of managerial opportunism that is evident in earnin...
Article
Full-text available
In this article, we examine the factors determining the representation of women on boards of directors by considering three main questions. The first question deals with the relationship between characteristics of ownership and governance on one side, and female directorship on the other side. The second major question concerns the demographic attr...
Article
Conflicts of interests between employees and shareholders mainly arise during the distribution of the value added since each party tends to maximize its share at the expense of the other. The objective of this paper is to determine, according to the firm’s ownership structure, whether employees’ rights would affect the distribution of the value add...
Article
Full-text available
R&D disclosure is a strategic decision directed at investors. However, voluntary R&D disclosure can lead to a higher proprietary cost and may benefit competitors. The main purpose of the present paper is to examine whether voluntary R&D disclosure impacts the firm's market value, and whether it is influenced by ownership structure. Using a sample o...
Article
Full-text available
The objective of this paper is to analyze the relationship between risk management and performance of microfinance institutions (MFIs). The devices tested are the choices of credit contracts and prudential regulation. Performance is understood in three dimensions. It refers to profitability, operational performance and portfolio quality. Based on a...
Article
Full-text available
The objective of this paper is to analyze the relationship between risk management and performance of microfinance institutions (MFIs). The devices tested are the choices of credit contracts and prudential regulation. Performance is understood in three dimensions. It refers to profitability, operational performance and portfolio quality. Based on a...
Article
Full-text available
The purpose of this paper is to consider the determinants of web-based corporate reporting by French-listed firms. The paper is based on a literature review of the determinants of web-based corporate disclosures and is both descriptive and explicative. It analyzes the use of the internet to disseminate corporate information and examines the extent...
Article
Full-text available
Purpose – The purpose of this paper is to consider the determinants of web-based corporate reporting by French-listed firms. Design/methodology/approach – The paper is based on a literature review of the determinants of web-based corporate disclosures and is both descriptive and explicative. It analyzes the use of the internet to disseminate corpor...
Article
Full-text available
The purpose of this article is to study the impact of the related parties’ transactions (RPTs) on firm value, and to identify the ownership and governance characteristics of companies that engage in this type of transactions. We use 3SLS simultaneous model carried out on a sample of 85 companies listed on the Paris Stock Exchange during the period...
Article
The non-satisfaction stemming from mainstream perspectives on the use of management accounting by managers is bound to that they suffer from a lack of alignment with the specificities of the managerial work and to that they have produced diffuse and non-integrated knowledge. By adopting a managerial perspective, this paper informs on the roles assi...
Article
Besides the size of the external auditor which is a major determinant, audit fees depend also on audit market characteristics, corporate governance and ownership. On the Basis of a sample of 130 French listed companies during the period 2004-2006, we present evidence of a « Big » auditor premium. The results highlight that the presence of a « Big »...
Article
Full-text available
Roles assigned to management accounting by managers and accounting change: a question of adequateness or a mere disillusion? The non-satisfaction stemming from mainstream perspectives on the use of management accounting by managers is bound to that they suffer from a lack of alignment with the specificities of the managerial work and to that they h...
Article
Full-text available
Cross-listing abroad : What‟s the interest for minority shareholders ? The issue relating to the protection of minority shareholders is at the heart of the corporate governance debate. If the law in a given country does not offer a real protection to minority, cross-listing may constitute an alternative mechanism. A new trend has developed around t...
Article
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Cet article étudie les déterminants de la communication financière sur Internet (CFI) pour 529 entreprises françaises cotées. L'objectif de ce papier est à la fois descriptif et explicatif. Il étudie l'adoption d'internet comme moyen de communication avec le marché et examine l'étendue des informations divulguées sur le web en développant un ensemb...
Article
The determinants of web-based financial disclosure by French listed firms The purpose of this paper is to shed some light on the determinants of web-based corporate reporting by 529 French-listed firms. This paper is both descriptive and explicative. It underlines the use of Internet disclosure items and examines the extent, quality and incremental...
Article
Besides the size of the external auditor which is a major determinant, audit fees depend also on audit market characteristics, corporate governance and ownership. On the Basis of a sample of 130 French listed companies during the period 2004-2006, we present evidence of a « Big » auditor premium. To a lesser degree, the choice of a « Major » audito...
Article
Full-text available
L’objectif de notre recherche est d’étudier le lien entre la suppression d’emplois et la performance économique et financière de l’entreprise. Sur un échantillon de 141 entreprises françaises cotées ayant annoncé des suppressions d’emploi sur les années 1997, 1998 et 1999, nous montrons que les réductions d’effectif interviennent dans les entrepris...
Article
Full-text available
Related party transactions, ownership and governance characteristics and performance of French firms The aim of this paper is to study the impact of related party transactions (RPT) on French firms’ performance and to identify ownership and governance characteristics of firms that carry out such transactions. The results of regressions conducted on...
Article
(VF)La limitation du problème du free cash flow dépend de l’efficacité des mécanismes de gouvernance.Sur la base d’un échantillon de 123 entreprises françaises en 2004, nous montrons que c’est la distribution soutenue des dividendes, et non le niveau d’endettement, qui permet de réduire le niveau du free cash flow. Les caractéristiques du conseil d...
Article
In this paper, we investigate the relation between cash flow, debt, investment and performance according to whether the firm is multinational (versus domestic), keiretsu (versus independent) or both multinational and keiretsu. Using a Japanese sample of 3024 firm-year observations in the period 2000 to 2002, the results shed lights on the associati...
Article
Full-text available
(VF)L’objectif de cet article est d’expliquer le choix des modes de gouvernance des activités de R&D entreprises par les firmes multinationales à l’étranger. Principalement, trois modes de gouvernance sont identifiés : l’internalisation totale des activités de R&D au sein d’une filiale (créée ou acquise) à l’étranger, les alliances en R&D (avec ou...
Article
Full-text available
(VF)La limitation du problème du free cash flow dépend de l’efficacité des mécanismes de gouvernance.Sur la base d’un échantillon de 123 entreprises françaises en 2004, nous montrons que c’est la distribution soutenue des dividendes, et non le niveau d’endettement, qui permet de réduire le niveau du free cash flow. Les caractéristiques du conseil d...
Article
The limitation of the problem of free cash flow depends on the efficiency of governance mechanisms. In our study, we chose four main governance mechanisms, namely debt, the distribution of dividends, boards of directors and ownership structure. On the basis of a sample of 94 French firms in 2004, the results show that sustained distribution of divi...
Article
Full-text available
Bank restructuring, organizational changes and Bank-SME relationship The examination of the motivations of banks during a restructuring process, namely : to face the uncertainty of the environment and to determine critical size and geographical and product diversification, shows that SME are at a disadvantage in these new banking orientations. To u...
Article
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L’objectif de notre recherche est d’étudier la relation entre la décision d’accord de crédits bancaires et les variables structurelles et comportementales qui con cernent respectivement la PME tunisienne et son dirigeant. Au regard des variables structurelles, les tests menés montrent que la décision d’accord ou de refus du crédit dépend de l’âge e...
Article
The determinants of the choice of the form of banking representation abroad : a theoretical analysis This article proceeds to a theoretical analysis of the determinants of the choice of the form of banking representation abroad. This choice is not carried out solely on the basis of characteristic of the economic and institutional environment of hom...
Article
Full-text available
Les fusions et acquisitions bancaires affectent le processus d'accord de crédit par la transformation de la nature de la relation entre la banque et les emprunteurs ainsi que celle entre les différents intervenants dans le processus décisionnel relatif à l'attribution des crédits. Les PME sont les plus touchées par ce phénomène. La prise en considé...
Article
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Durant les deux dernières décennies, les firmes ont investi des sommes substantielles dans les activités de recherche et développement (R&D) afin de générer des avantages économiques futurs pour les différentes parties prenantes à la firme. La R&D influence fortement les techniques de production, les modes d’organisation, la qualité des produits ai...
Article
Bank mergers and acquisitions affect the process of loan agreement by transforming the nature of the relationship between the bank and the borrowers as well as that between the different agents who intervene in the decision-taking process concerning the attribution of loans. SMEs are the firms most affected by this phenomenon. The study of the orga...
Article
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Parallèlement à ses vertus reconnues dans la création de valeur, la fonction R&D renforce, de par ses caractéristiques, la latitude managériale. Cette proposition est d'autant plus soutenable que les mécanismes d'incitation, de contrôle et de discipline des dirigeants sont, dans les firmes à forte intensité R&D, particulièrement réduits. Plusieurs...
Article
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Le gouvernement d'entreprises (d�sormais GE) allemand a connu ces derni�res ann�es une �volution importante. S'inclinant devant les directives europ�ennes, le Parlement a adopt� des nouvelles lois visant, principalement, � am�liorer le fonctionnement du march� des capitaux et � r�duire l'influence des banques. Notre article consiste � �tudier le r�...
Article
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This paper focuses on banks advantages, compared to bondholders, mainly by the induction of a better reliability for management. Hereafter, a panel of 84 French firms behavior in leverage is modelized. Our findings suggest that the quality of corporate management is not strictly related to the best ways to borrow money. Who is the investor, for whi...
Article
Full-text available
Recent empirical evidence has shown that internal capital markets within multinational corporations are used to reduce overall financing costs by optimizing the mix of internal and external debt of affiliates in different countries. We show that this cost saving use of internal capital markets is not limited to multinationals, but that domestic bus...
Article
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Japanese companies often belong to a Keiretsu and so are distinguished by a particular governance mode. Although their shares are quoted on the Stock Exchange, they are generally controlled by main banks, which are shareholders and creditors. These system implications are numerous and induce asymmetric information and moral hazard problems less acu...
Article
Full-text available
The objective of this paper is to explain the choi ce of governance modes of foreign R&D activities by multinational firms. Mainly, three go vernance modes are identified: the complete internalization of R&D activities in a wholly owned subsidiary (created or acquired), the R&D alliances (equity alliances or non-equity alliances ) and the complete...