This research aims to evaluate Egyptian banks’ sustainable performance and to rank them according to the assessing framework criteria. The researchers depended on the 2017 annual reports of 26 Egyptian banks and sustainability reports (if available). Then, the banks were categorized according to their type (public, private, or Islamic). Finally, the banks’ total assets were extracted in order to further categorize the banks into small and large based on the threshold of EGP 75 billion. The data from the reports were analyzed using the content analysis application NPV11 to measure the sustainability adoption score. Then, a Kruskal-Wallis test was used to determine if there is a significant difference in sustainability banking performance score of public, private and Islamic sector banks in Egypt. Finally, a Spearman’s Rank Correlation was used to test correlation between bank size and sustainability adoption score. The results showed that there are only two banks that have significantly began to adopt sustainability practices from the private sector while no public or Islamic Bank showed any significant implementation. Furthermore, results reveled that there are nine banks with a score greater than zero and this was reasoned to be a result of the initiatives of the Central Bank of Egypt to provide low-interest loans to support small startup enterprises. Then, it was found that there isn’t significant difference in sustainability banking performance score of public, private and Islamic banks in Egypt. Finally, no significant relation between bank size and sustainability adoption score in Egypt was identified.

This paper seeks to use fixed effect and dynamic panel models to examine role of firm characteristics, macroeconomic variables, control of corruption and political uncertainty in explaining cash holdings of Egyptian firms over the period 2011 – 2020. We find that firm characteristics strongly explain variations in corporate cash ratios and deviations from the target ratios. However, we document no considerable role of macro variables. Egyptian firms tend to hold liquid assets as cash substitutes in managing their working capital and use debt as cash substitute in financing their operations. The findings support the prediction of main corporate finance theory and support both the precautionary and transactionary motives to hold cash. As expected, Egyptian firms tend to hold more cash during periods of high political uncertainty.  After sorting according to the most influential independent variables which are tangibility and dividend yield (high and low). We find that cash holdings of the firms respond differently to both the firm specific variables and macro variables. Specifically, the high tangibility firms adjust their cash holding to the optimal level faster than the low tangibility firms while the low dividend yield firms adjust faster than the high dividend yield firms. The results of dynamic panel models indicate that Egyptian firms follow a partial adjustment policy towards the optimal cash levels, which corresponds with trade off theory.

This study was conducted to see the impact of macroeconomic factors, Gross domestic product, interest rate, inflation rate, money supply and the exchange rate on stock price change percentage of the ESG listed companies according to the approach of Arbitrage Pricing Theory (APT). The data used in this research is secondary data from the central bank of Egypt and the Egyptian Stock Exchange. the total sample of this research are 20 out of 30 companies listed in The Egyptian Stock Exchange (EGX) for the period from 2016 to 2020. The analysis technique used descriptive statistics, correlation matrix and multi regression analysis. The results showed that macroeconomic factors especially interest rate and inflation have a significant negative impact on stock price changes of EGX30 ESG (Environment, Social and Governance) companies with a lower effect than traditional companies where their regression analysis showed percentage exceeding ours (16%). (Rageb, 2018) (Awd, 2015) Our main recommendation that all the companies within Egypt have to work hard to transform towards the ESG practices as from the results we have investigated it has low level of risks.

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