{"id":"https://openalex.org/W4391403837","doi":"https://doi.org/10.3390/ijfs12010013","title":"Board Structure, CEO Equity-Based Compensation, and Financial Performance: Evidence from MENA Countries","display_name":"Board Structure, CEO Equity-Based Compensation, and Financial Performance: Evidence from MENA Countries","publication_year":2024,"publication_date":"2024-01-31","ids":{"openalex":"https://openalex.org/W4391403837","doi":"https://doi.org/10.3390/ijfs12010013"},"language":"en","primary_location":{"id":"doi:10.3390/ijfs12010013","doi":"https://doi.org/10.3390/ijfs12010013","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijfs12010013","pdf_url":"https://www.mdpi.com/2227-7072/12/1/13/pdf?version=1706696606","source":{"id":"https://openalex.org/S2764827305","display_name":"International Journal of Financial Studies","issn_l":"2227-7072","issn":["2227-7072"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Financial Studies","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2227-7072/12/1/13/pdf?version=1706696606","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5052776873","display_name":"Abdullah A. Aljughaiman","orcid":"https://orcid.org/0000-0002-6123-3671","observed_orcids":["https://orcid.org/0000-0002-6123-3671"]},"institutions":[{"id":"https://openalex.org/I4626487","display_name":"King Faisal University","ror":"https://ror.org/00dn43547","country_code":"SA","type":"education","lineage":["https://openalex.org/I4626487"]}],"countries":["SA"],"is_corresponding":true,"raw_author_name":"Abdullah A. Aljughaiman","raw_affiliation_strings":["Finance Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia"],"raw_orcid":"https://orcid.org/0000-0002-6123-3671","affiliations":[{"raw_affiliation_string":"Finance Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia","institution_ids":["https://openalex.org/I4626487"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5076392907","display_name":"Abdulateif A. Almulhim","orcid":"https://orcid.org/0000-0001-5539-9854","observed_orcids":["https://orcid.org/0000-0001-5539-9854"]},"institutions":[{"id":"https://openalex.org/I4626487","display_name":"King Faisal University","ror":"https://ror.org/00dn43547","country_code":"SA","type":"education","lineage":["https://openalex.org/I4626487"]}],"countries":["SA"],"is_corresponding":false,"raw_author_name":"Abdulateif A. Almulhim","raw_affiliation_strings":["Finance Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia"],"raw_orcid":"https://orcid.org/0000-0001-5539-9854","affiliations":[{"raw_affiliation_string":"Finance Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia","institution_ids":["https://openalex.org/I4626487"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5055779178","display_name":"Abdulaziz Saud Al Naim","orcid":"https://orcid.org/0009-0003-3491-9234","observed_orcids":["https://orcid.org/0009-0003-3491-9234"]},"institutions":[{"id":"https://openalex.org/I4626487","display_name":"King Faisal University","ror":"https://ror.org/00dn43547","country_code":"SA","type":"education","lineage":["https://openalex.org/I4626487"]}],"countries":["SA"],"is_corresponding":false,"raw_author_name":"Abdulaziz S. Al Naim","raw_affiliation_strings":["Accounting Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Accounting Department, School of Business, King Faisal University, Al-Ahsa 31982, Saudi Arabia","institution_ids":["https://openalex.org/I4626487"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5052776873"],"corresponding_institution_ids":["https://openalex.org/I4626487"],"apc_list":{"value":1800,"currency":"CHF","value_usd":2046},"apc_paid":{"value":1800,"currency":"CHF","value_usd":2046},"fwci":3.3734,"has_fulltext":true,"cited_by_count":12,"citation_normalized_percentile":{"value":0.91993263,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":"12","issue":"1","first_page":"13","last_page":"13"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9922000169754028,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9922000169754028,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11365","display_name":"Islamic Finance and Banking Studies","score":0.00430000014603138,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/board-structure","display_name":"board structure","score":0.7910000085830688},{"id":"https://openalex.org/keywords/board-size","display_name":"board size","score":0.7670000195503235},{"id":"https://openalex.org/keywords/board-independence","display_name":"board independence","score":1.0},{"id":"https://openalex.org/keywords/long-term-incentives","display_name":"long-term incentives","score":0.7419999837875366},{"id":"https://openalex.org/keywords/executive-compensation","display_name":"executive compensation","score":0.7409999966621399},{"id":"https://openalex.org/keywords/financial-performance","display_name":"financial performance","score":0.8309999704360962},{"id":"https://openalex.org/keywords/commercial-banks","display_name":"commercial banks","score":0.7870000004768372},{"id":"https://openalex.org/keywords/islamic-banking","display_name":"Islamic banking","score":0.9620000123977661},{"id":"https://openalex.org/keywords/sharia-principles","display_name":"sharia principles","score":0.7450000047683716},{"id":"https://openalex.org/keywords/middle-east-and-north-africa","display_name":"Middle East and North Africa","score":0.6420000195503235}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6677930355072021},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.650080144405365},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.5041283369064331},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.42492157220840454},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4113697111606598},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.4108474552631378},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.33889156579971313},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3294176459312439},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3390/ijfs12010013","doi":"https://doi.org/10.3390/ijfs12010013","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijfs12010013","pdf_url":"https://www.mdpi.com/2227-7072/12/1/13/pdf?version=1706696606","source":{"id":"https://openalex.org/S2764827305","display_name":"International Journal of Financial Studies","issn_l":"2227-7072","issn":["2227-7072"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Financial Studies","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:gam:jijfss:v:12:y:2024:i:1:p:13-:d:1330425","doi":null,"is_oa":false,"landing_page_url":"https://www.mdpi.com/2227-7072/12/1/13/","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:3b2fb7ba60a54c78b794095e56e6e80b","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/3b2fb7ba60a54c78b794095e56e6e80b","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"International Journal of Financial Studies, Vol 12, Iss 1, p 13 (2024)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/ijfs12010013","doi":"https://doi.org/10.3390/ijfs12010013","is_oa":true,"landing_page_url":"https://doi.org/10.3390/ijfs12010013","pdf_url":"https://www.mdpi.com/2227-7072/12/1/13/pdf?version=1706696606","source":{"id":"https://openalex.org/S2764827305","display_name":"International Journal of Financial Studies","issn_l":"2227-7072","issn":["2227-7072"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["anvur-scientific","cwts-core","doaj","norway-1","poland-40","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"International Journal of Financial Studies","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.48510000109672546,"display_name":"Decent work and economic growth"},{"id":"https://metadata.un.org/sdg/16","score":0.46149998903274536,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[{"id":"https://openalex.org/F4320331156","display_name":"King Faisal University","ror":null}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4391403837.pdf","grobid_xml":"https://content.openalex.org/works/W4391403837.grobid-xml"},"referenced_works_count":64,"referenced_works":["https://openalex.org/W1194316878","https://openalex.org/W1485535210","https://openalex.org/W1527412032","https://openalex.org/W1999997152","https://openalex.org/W2003101455","https://openalex.org/W2005847611","https://openalex.org/W2026377427","https://openalex.org/W2028261688","https://openalex.org/W2033611732","https://openalex.org/W2036146620","https://openalex.org/W2086814404","https://openalex.org/W2093920054","https://openalex.org/W2096167588","https://openalex.org/W2101376317","https://openalex.org/W2101641518","https://openalex.org/W2131538393","https://openalex.org/W2131567667","https://openalex.org/W2151648574","https://openalex.org/W2155192163","https://openalex.org/W2156320019","https://openalex.org/W2160184254","https://openalex.org/W2168009245","https://openalex.org/W2395479451","https://openalex.org/W2543804403","https://openalex.org/W2549085154","https://openalex.org/W2742119313","https://openalex.org/W2752617332","https://openalex.org/W2763991216","https://openalex.org/W2771653043","https://openalex.org/W2806913912","https://openalex.org/W2915487396","https://openalex.org/W2955512381","https://openalex.org/W2964460132","https://openalex.org/W2980289903","https://openalex.org/W3008967834","https://openalex.org/W3011836527","https://openalex.org/W3021889044","https://openalex.org/W3038227954","https://openalex.org/W3048744935","https://openalex.org/W3098150025","https://openalex.org/W3121343076","https://openalex.org/W3121472508","https://openalex.org/W3122057977","https://openalex.org/W3122859634","https://openalex.org/W3122944446","https://openalex.org/W3123055067","https://openalex.org/W3123056013","https://openalex.org/W3123468997","https://openalex.org/W3123941433","https://openalex.org/W3124249486","https://openalex.org/W3125193924","https://openalex.org/W3125954083","https://openalex.org/W3126004169","https://openalex.org/W3126065282","https://openalex.org/W4206827841","https://openalex.org/W4230953566","https://openalex.org/W4284696725","https://openalex.org/W4307852455","https://openalex.org/W4309622904","https://openalex.org/W4311111848","https://openalex.org/W4378648262","https://openalex.org/W4386051024","https://openalex.org/W4387552296","https://openalex.org/W4388171588"],"related_works":["https://openalex.org/W7099023085","https://openalex.org/W4396937818","https://openalex.org/W7111355642","https://openalex.org/W3135069055","https://openalex.org/W1560974050","https://openalex.org/W4408507729","https://openalex.org/W7118437551","https://openalex.org/W4406524941","https://openalex.org/W1166531121","https://openalex.org/W4401544584"],"abstract_inverted_index":{"This":[0],"paper":[1],"investigates":[2],"the":[3,37,43,49,79,100,109,132,145,158,178,190,202,220,226],"association":[4,50,90,102],"between":[5,51,81,91,103,134],"board":[6,30,33,38,46,92,112,123,135,152,182,197],"of":[7,45,72,111,181,208,228,236],"director":[8],"(BOD)":[9],"structures":[10,231],"and":[11,21,32,55,62,83,94,137,195,217],"CEO":[12,52,95,115,129,138,185],"equity-based":[13,53],"compensation":[14,54,116,204,230],"(long-term":[15],"incentive)":[16],"for":[17,78,106,142,200,213],"commercial":[18],"banks":[19,64,74],"(conventional":[20],"Islamic":[22,63,168],"banks)":[23],"in":[24,65,75,224],"MENA":[25,76],"countries.":[26],"Specifically,":[27,219],"we":[28,41,59,85,98,148],"take":[29],"size":[31,93,113],"independence":[34,124,136],"to":[35,157,162,177,233],"measure":[36],"structure.":[39],"Furthermore,":[40],"investigate":[42],"influence":[44],"structure":[47,153,183],"on":[48,114,173,184],"financial":[56,165,214,237],"performance.":[57,166],"Moreover,":[58],"compare":[60],"conventional":[61],"testing":[66],"these":[67,104],"relationships.":[68],"Using":[69],"a":[70,87,193],"sample":[71],"65":[73],"countries":[77],"period":[80],"2009":[82],"2020,":[84],"show":[86,121],"significant":[88],"positive":[89,141],"compensation.":[96,130,186],"However,":[97],"find":[99,149],"same":[101],"variables":[105],"IBs,":[107],"but":[108],"effect":[110],"is":[117,125,140,198],"less.":[118],"We":[119],"also":[120],"that":[122,150,192],"negatively":[126],"correlated":[127],"with":[128],"Nevertheless,":[131],"relationship":[133],"ownership":[139],"IBs.":[143],"For":[144],"moderating":[146],"test,":[147],"effective":[151,196],"provides":[154],"more":[155],"incentives":[156],"CEO,":[159],"leading":[160],"them":[161],"achieve":[163],"higher":[164],"The":[167,206],"bank\u2019s":[169],"business":[170],"model":[171],"(based":[172],"Shari\u2019ah":[174],"principles)":[175],"contributes":[176],"different":[179,229,234],"influences":[180],"Our":[187],"results":[188],"provide":[189],"insight":[191],"strong":[194],"important":[199],"managing":[201],"executive\u2019s":[203],"system.":[205],"findings":[207],"this":[209],"study":[210,221],"have":[211],"implications":[212],"firms,":[215],"policymakers,":[216],"regulators.":[218],"may":[222],"help":[223],"understanding":[225],"benefits":[227],"relative":[232],"types":[235],"firms.":[238]},"counts_by_year":[{"year":2026,"cited_by_count":8},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2024-02-01T00:00:00"}
