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This article examines the existence of herding behaviour in the Egyptian stock market during the 2011 revolution period. Using daily and monthly data, we test for the existence of herding for the whole period, as well as for the pre- and post-revolution phases. For the whole period, our results fail to provide evidence of herding behaviour in the Egyptian stock market, but do provide evidence of adverse herding behaviour that exhibits non-linearity. The results also fail to provide evidence of herding behaviour during bull and bear markets, and show that herding behaviour is a short-lived phenomenon. When the pre- and post-revolution phases are considered separately, the results provide evidence of weak adverse herding for both phases and of adverse herding in bullish markets, but they are inconclusive regarding bearish markets. JEL Classification: G10, G15

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Purpose This paper aims to test the levels of anti-corruption disclosure and its implication on the banking performance of both conventional and Islamic banks listed on the Abu Dhabi Securities Exchange and Dubai Financial Market. Design/methodology/approach The authors have used the content analysis to identify the levels of anti-corruption disclosure in the banks’ annual reports. They have also used the two-steps generalized method of moments (GMM) regression applied to dynamic panel data analysis to examine the effect of the anti-corruption disclosure on the banking performance. Findings The empirical results show that the anti-corruption disclosure is at low levels for all banks and conventional and Islamic banks samples. The results also show no significant differences in the anti-corruption disclosure between Islamic and conventional banks. The results of the two-steps GMM regression applied to dynamic panel data analysis show a negative and significant impact of the levels of anti-corruption disclosure on the bank’s performance for both all banks and conventional banks; the results of the dynamic panel data analysis show an insignificant impact of anti-corruption discloser for the Islamic banks' sample. Practical implications The findings recommended a comprehensive framework of anti-corruption disclosure to the central banks and financial market regulators to enhance anti-corruption practices within the financial institutions to increase transparency and enhance their performance. Originality/value Fighting against anti-corruption is essential for financial institutions. This paper is the first study that examined the extent of anti-corruption levels and their effect on banking performance for both Islamic and conventional banks operates in the UAE. The findings help in enhancing reporting practices in terms of anti-corruption to improve transparency and performance in the banking sector.