The Drivers and Barriers of Corporate Social Responsibility: A Comparison of the MENA Region and Western Countries

(1) Although numerous articles have been published to address the drivers or barriers of corporate social responsibility (CSR), some parts of the world have received less attention. In this study, I reviewed the literature from 2010 to 2021 to identify drivers and barriers of CSR in the Middle East and North Africa (MENA) region and compare them with the findings in Western countries. (2) Methods: For this study, I used a structured literature review method. By setting the inclusion and exclusion criteria, only 28 articles remained from the selected database. (3) Results: The findings revealed that some CSR drivers, such as leadership styles, profitability, reputation, moral commitment, and environmental conservation, are common in both regions. There are also some differences between CSR drivers, for example, religious beliefs, low concentration of ownership, and company characteristics are some of the drivers in the MENA region. Maintaining social license to operate, and avoiding the risks of community opposition, pressure from the government, and consumer demand tend to be more important in Western countries. Common barriers in both regions are lack of financial resources, cost, lack of CSR knowledge and awareness, and ownership concentration. This review also highlighted that lack of law enforcement, lack of stakeholder communication, lack of management commitment, lack of interests, corruption, and financial debts are some of the barriers of CSR addressed in the MENA region, whereas cost/benefit ratio, lack of customer interest, and lack of scientific frameworks are special barriers in Western countries. (4) Conclusions: Although researchers in Western countries have more focus on the energy sector, there is a lack of research about the drivers and barriers of CSR in the MENA region in several industries, including oil and gas.

Korea’s official development aid to MENA region countries

The aim of this study is to increase the effectiveness of Korean aid provision for countries in the Middle East and North Africa (MENA) region, which are important ODA recipient countries from a Korean perspective, but have not been studied extensively in Korea. Although there are twenty countries in the MENA region, in this study five countries, Egypt, Algeria, Libya, Iran and Iraq, which are considered important from a Korean perspective, are targeted. The analysis includes an examination of the regional characteristics and the long-term development plans of these five countries, and the size and contents of aid projects provided by Korea to these countries. It is expected that as a result of this analysis Korea will be able to carry out aid projects involving these countries more effectively in the future.

Understanding the epidemiological HIV risk factors and underlying risk context for youth residing in or originating from the Middle East and North Africa (MENA) region: A scoping review of the literature

Introduction HIV is the second leading cause of death among young people globally, and adolescents are the only group where HIV mortality is not declining. Middle East and North Africa (MENA) is one of few regions seeing rapid increase of HIV infections (31.0%) since 2001. MENA youth are at particular risk of HIV due to dearth of research and challenges in accessing services. Objective The purpose of this scoping review is to establish the epidemiological HIV risk factors and underlying risk context for youth residing in or originating from the MENA region. Methods Online database searches were conducted using combination of search terms. Screening 5,853 citations, published between 1990–2019 with age groups 16 to 29, resulted in 57 studies included across 18 MENA countries. Results ‘Key populations’ engage in risky behaviors, including: overlapping risky behaviors among youth who inject drugs (PWID); lack of access to HIV testing, condomless sex, and multiple sex partners among young men who have sex with men (MSM); and high and overlapping risk behaviors among young sex workers. Challenges facing other youth groups and bridging populations include: peer pressure, inhibition about discussing sexual health, lack of credible sex education sources, low condom use, and lack of access to HIV protection/prevention services, especially testing. Conclusion Poor surveillance coupled with scarcity of rigorous studies limit what is known about epidemiology of HIV among youth in MENA. Homophobia, stigma around PWID, and illegal status of sex work promote non-disclosure of risk behaviors among youth and curtail serving this population.

Abnormal disclosure tone, earnings management and earnings quality

PurposeThe authors investigate whether abnormal tone in corporate narrative disclosures is associated with earnings management and earnings quality, in an emerging market context. Based on agency theory and opportunistic/impression management perspective, this study examines whether executives manage disclosure tone to support their opportunistic behavior, when using earnings management.Design/methodology/approachThis study uses a sample of earnings press releases of publicly traded firms in the MENA region during 2014–2019. It employs textual analysis to measure disclosure tone. The authors estimate abnormal disclosure tone after controlling for firm characteristics. Discretionary accruals proxy for earnings management and are estimated using Modified Jones model. Earnings quality is measured using accounting-based and market-based proxies: earnings smoothness, persistence, predictability and value relevance/informativeness.FindingsResults show a positive association between abnormal disclosure tone and earnings management. Additionally, results show that earnings persistence is higher for firms with lower levels of abnormal disclosure tone. Results are sustained for earnings smoothness, but not for predictability and value relevance/informativeness.Research limitations/implicationsResults provide initial evidence of management's use of tone management jointly with earnings management. This adds to prior studies adopting the opportunistic perspective of disclosure tone, through showing that discretionary tone in narrative disclosures can be strategically used by management to influence investors' perceptions.Practical implicationsThe results provide valuable insight to board of directors, auditors and market participants on the possible biases emerging from tone of narrative disclosures in corporate reports. For regulators and standard-setters, results shed light on the need for regulations and rules beyond financial statements, to guide disclosure of narrative information in different corporate reports.Originality/valueThis study contributes to the rare evidence that investigates textual disclosure characteristics to uncover management's opportunistic practices and assess earnings quality. Where majority of studies concentrate on developed markets, this study provides novel evidence of emerging markets by examining the association between abnormal disclosure tone and earnings management/earnings quality. Also, it validates the tone management model proposed by Huang et al. (2014) for capturing tone manipulation.

The COVID-19 Outbreak and Risk–Return Spillovers between Main and SME Stock Markets in the MENA Region

This study investigates return and asymmetric volatility spillovers and dynamic correlations between the main and small and medium-sized enterprise (SME) stock markets in Saudi Arabia and Egypt for the periods before and during the COVID-19 pandemic. Return and volatility spillovers are modelled using a VAR-asymmetric BEKK–GARCH (1,1) model, while a VAR-asymmetric DCC–GARCH (1,1) model is employed to model the dynamic conditional correlations between these markets, which are then used to determine and explore portfolio design and hedging implications. The results show that while bidirectional return spillovers between the main and SME stock markets are limited to Saudi Arabia, shock and volatility spillovers have different characteristics and dynamics in both main–SME market pairs. In addition, the dynamic correlations between the main and SME markets are mostly positive and have notably increased during the COVID-19 pandemic, particularly in Saudi Arabia, suggesting that adding SME stocks to a main stock portfolio enhances its risk-adjusted return, especially during tranquil market phases. One practical implication of our results is that the development of SME stock markets can indirectly contribute to economic development via the main market channel and provide an avenue for portfolio diversification and risk management.

Solid Waste Management in the Context of a Circular Economy in the MENA Region

Solid waste management in most MENA countries is characterized by lack of planning, improper disposal, inadequate collection services, inappropriate technologies that suit the local conditions and technical requirements, and insufficient funding. Therefore, waste management is mainly limited to collection, transportation, and disposal. As the circular economy has recently been given high priority on the MENA region’s political agenda, all MENA member states are seeking to move away from old-fashioned waste disposal, “waste management”, towards a more intelligent waste treatment, “resource efficiency”. This paper presents a comprehensive overview of national systems for municipal solid waste (MSW) management, and material and energy recovery as an important aspect thereof, in the context of the circular economy in selected countries in the MENA region. Since policy, regulation, and treatment technologies are traditionally connected to MSW management, the focus of this article is twofold. Firstly, it aims to identify the different practices of solid waste management employed in selected MENA region countries and their approaches to embracing the circular economy and, secondly, it examines the extent to which policies and technologies applied play any role in this context. The study revealed that most waste management issues in the countries analyzed appear to be due to political factors and the decentralized nature of waste management with multi-level management and responsibilities. In fact, material and energy recovery in the context of municipal solid waste management does not differ significantly in the countries in the MENA region considered. In most cases, “waste” is still seen as “trouble” rather than a resource. Therefore, a fresh vision on how the solid waste management system can be transformed into a circular economy is required; there is a need for paradigm shift from a linear economy model to a circular-economy model.