ENTERPRENEURSHIP JOURNAL FOR FINANCE AND BUSINESS

This study aims to improve the methods of building investment
portfolios for a sample of Iraqi banks listed on the Iraq Stock Exchange, by
comparing traditional methods such as the Markowitz model with modern
techniques based on machine learning. Markowitz's model focuses on
balancing return and risk using the Medium-Variance Optimization
Framework, a traditional model that many financial institutions rely on. In
contrast, the study seeks to explore the possibilities of machine learning
techniques such as key component analysis (PCA).), Supporting Vector
Machine (SVM), logistic regression, and random forest in improving the
performance of the investment portfolios of these banks in a volatile
environment such as the Iraq Stock Exchange. These techniques are based on
the processing and analysis of big financial data to detect hidden patterns and
relationships that can contribute to increasing returns and reducing risk more
effectively than traditional methods. The historical financial data of the
shares and assets of the banks concerned were also used to evaluate the
performance of portfolios using indicators such as expected return, variance,
and Sharpe ratio, with the aim of providing innovative solutions that help
banks make smarter and more effective investment decisions commensurate
with local market conditions and the economic and political challenges they
face. As for the methods used in the research, the following mathematical
equations were used in building an optimal investment portfolio: expected
return, which measures the expected performance of a portfolio based on
asset weights and return expectations; the Sharpe rate, which measures the
return achieved by a portfolio per unit of risk and is an indicator of riskadjusted performance; and variance, which is used to measure the volatility of
returns and analyze the risks associated with each portfolio. The study proved
that the use of machine learning techniques can improve portfolio
performance more than Traditional methods in volatile market environments
such as the Iraq Stock Exchange. Techniques such as key component analysis
(PCA) and random forest have shown a significant ability to increase returns
and reduce risk compared to the traditional Markowitz model. Accordingly, it
is recommended that Iraqi banks adopt machine learning techniques in
portfolio building strategies, as these technologies can help deal with local
economic and political challenges and achieve more effective investments.

The current research aims, through its chapters, to verify the relationship
of influence between the dimensions of the independent variable (IT
governance) and the dimensions of the dependent variable (institutional
excellence). The research problem was defined in a main question: Is there an
impact of IT governance in achieving the European model of excellence in
the ministry? The research was applied in the Ministry of Higher Education
and Scientific Research in (the Scientific Supervision and Evaluation
Authority, Information Technology Department). The researcher relied on the
descriptive analytical approach in completing this research by using a
questionnaire to collect data from a sample of (148) people, which represents
61% of the community, which numbers (241) employees in (the Scientific
Supervision and Evaluation Authority, Information Technology Department).
The research reached a set of conclusions, the most prominent of which was
the Ministry’s noticeable interest in its institutional excellence, which
prompted it to adopt IT governance in general. The most prominent
recommendations were the need for the Ministry to focus on improving its
institutional and corporate resources, which increases its ability to exchange
scientific expertise with institutions in other countries.

This research aims to test the relationship and impact between green
finance strategies (environmental, social, economic, governance, and
compliance) and the management of climate change risks (physical, liability,
and transition). The study adopted the descriptive-analytical approach to
achieve its objectives. It analyzed the reality of three private Iraqi banks: the
National Bank of Iraq, the International Development Bank, and the Bank of
Baghdad. To collect the necessary data, a field questionnaire was distributed
to a sample consisting of managers, department heads, employees, and others
working in private banks in Iraq. A total of 150 questionnaires were
distributed, 50 for each bank, and 124 valid responses were retrieved for
statistical analysis. The researcher used the SPSS program to analyze the
statistical data, test the hypotheses, and measure the relationships between
the variables. The study also referred to the Egyptian experience as a model
for implementing green finance strategies and addressing climate change.
The research focused on two main hypotheses: the first assumes a significant
correlation between green finance strategies and climate change risks across
the various dimensions such as environmental, social, economic,
governance, and compliance. The second hypothesis assumes that green
finance strategies have a statistically significant impact on the management
of climate change risks at both the main and sub-variable levels. The
importance of the research lies in introducing and deepening the
understanding of green finance and climate change issues, and in analyzing
the extent to which green finance contributes to addressing climate-related
risks. The results of the analysis confirmed the validity of all hypotheses,
revealing statistically significant relationships between the strategies
(environmental, social, economic, governance) and the three types of climate
risks (physical, liability, and transition), which confirms the growing
awareness of the importance of green finance

This study highlights the vital role played by electronic banking in
enhancing financial inclusion in Iraq, considering the challenges facing the
financial sector—particularly the limited integration of large segments of the
population into the formal banking system. The study is based on a problem
concerning the limited role of electronic banking in expanding financial
inclusion and seeks to evaluate its actual contribution in this field.
The study aims to diagnose the current state of electronic banking in
Iraqi banks, determine the extent of the spread and usage of the services
provided among the public, and measure the impact of these services on
financial inclusion indicators—such as increasing the number of bank
accounts and facilitating access to credit and other financial services. It also
reviews the challenges hindering the spread of electronic banking, whether
related to infrastructure, the regulatory framework, or the lack of awareness
and trust among users.
The study adopts a descriptive-analytical approach, relying on official data
issued by the central bank and commercial banks, in addition to an inductive
approach that traces the relationship between the development of electronic
banking and financial inclusion indicators. Despite the persistence of some
geographical and social gaps, the study recommends the need to develop
digital infrastructure, enhance financial literacy, and update regulatory
frameworks to keep pace with the digital transformation of banking in Iraq

Given the great importance of financial stocks and their significant role as
one of the financial assets used in building the optimal investment portfolio,
they are exposed to many risks, the most important of which is the decline in
their market value. Therefore, our study addressed the reverse split method as
a financial method used to raise the prices of financial stocks with low prices.
A sample of Iraqi banks that suffer from A decrease in the level of share prices
of (14) Iraqi banks for the period from 6/2014 to 6/2024, as the research aims
to know the extent of the ability of the reverse segmentation method in building
optimal investment portfolios when implementing the reverse segmentation,
and two sides of the reverse segmentation were taken, which are the positive
side represented by the rise in prices, as well as the negative side represented
by the decrease Stock prices when implementing the reverse split, and the
research aims to know the effect of this method on the returns and risks of
stocks after its implementation, especially the returns and risks of portfolios
that were built based on the cut rate as well as the performance of these
portfolios, as it was found that the effect of the reverse split of stocks was found
whether at a rise in the price level or at a fall in stock prices after its
implementation, and that the returns The risk levels increased more when
prices rose after the reverse split than when prices fell. The research results
also showed that the optimal portfolio’s return when prices rose after the
reverse split was higher than the portfolio’s return after the price decline.
However, the risk of the optimal investment portfolio when prices fell after the
reverse split was higher, the risk of the investment portfolio is higher when
prices rise after implementation. The reverse split did not play any role in
improving the performance of the investment portfolio whether prices rose or
fell. Therefore, investment portfolio managers who seek to achieve high levels
of returns regardless of the level of risk associated with those returns should
buy shares of banks that implemented the split decision. Reverse, and this
requires the management of the Iraq Stock Exchange to include the reverse
split within the procedures in effect in the Iraq Stock Exchange

Given the challenges facing Iraqi industry—such as limited government
support and the high cost of production compared to imported goods—
industrial organizations are in urgent need of adopting effective technologies
to improve their operational efficiency. Supply chain analysis stands out as
one of the most significant of these technologies, as it helps optimize the flow
of materials and information, reduce costs, and enhance the accuracy of
accounting data.
This study aims to highlight the impact of supply chain analysis on
strengthening the effectiveness of the accounting information system through
a field application at the National Company for Chemical and Plastic
Industries. The findings indicate that integrating supply chain activities with
the accounting system contributes to improving the quality of financial
information, controlling costs, and supporting managerial decision-making.
The study further recommends the development of digital systems that
integrate logistical and accounting functions, along with training personnel on
modern technologies.

The research aims to determine the role of income smoothing practices, methods, and techniques in predicting financial failure in companies, and to identify whether these practices lead to an increase or decrease in the probability of financial failure, as well as how they affect the decisions of financial statement users. It also seeks to define the theoretical framework of income smoothing, financial failure, financial failure prediction, and the main models used in predicting financial failure. This is achieved by testing the research hypotheses and attempting to find a solution to the problem represented by the unclear relationship between income smoothing and financial failure. The research problem can be formulated through the following questions: Do income smoothing practices contribute to increasing the probability of financial failure? Does the diversity of income smoothing practices affect the probability of financial failure? The research is based on two main hypotheses: There is a relationship between income smoothing and the prediction of financial failure according to the Altman model. This relationship between income smoothing and the prediction of financial failure according to the Altman model is positive. The research was applied to a sample of commercial banks listed on the Iraq Stock Exchange, where banks with unstable net income were selected.
Based on the financial statements, the research reached several conclusions, the most important of which are: The results showed that the bank included in the study were within a high-risk range of financial failures, and that the role of income smoothing was limited and inconsistent over the five-year study period. Its effect was negative in most periods, indicating that it did not significantly contribute to reducing the risk of financial failure.

The research aims to study and analyze the cognitive foundations of analytical procedures and the efficiency of external auditors, in addition to reviewing the relevant literature on the quality of financial reporting. It focuses on the extent to which analytical procedures are applied and on verifying the external auditor’s commitment to their implementation within a selected sample of Iraqi banks (Iraqi National Bank) The study is based on the hypothesis that adopting sound analytical procedures, supported by an audit team that is scientifically and professionally qualified, positively impacts the quality of financial reporting of the audited entity. To achieve the research objectives, the financial statements of the sampled banks were analyzed using financial ratios representing liquidity, activity, leverage, and profitability.
Through a comparison between the ratios used by external auditors and those applied by the researcher, it was found that the auditors primarily focused on liquidity indicators, applying only the current ratio, without extending the analysis to other ratios related to activity, profitability, and leverage.
The findings revealed that the effective application of analytical procedures by competent external auditors enhances the quality of financial reporting, as each element reinforces the other’s effectiveness; any weakness in one dimension directly affects the reliability of financial reports.
The researcher recommends that analytical procedures and financial ratios be applied by auditors throughout all stages of the audit process, as they provide essential support in determining the nature, timing, and extent of audit tests, while maintaining previous results for comparative and future evaluation purposes.

This research aims to identify the role of strategic leadership, through its dimensions (clarity of strategic direction, rational use of authority, and ethical and value framework), in achieving outstanding performance in the private universities included in the research sample. (153) valid questionnaires were distributed to the research sample, which included senior and middle management. The data were processed and analyzed using several statistical methods, most notably (arithmetic mean, standard deviation, coefficient of variation, Pearson correlation coefficient, and simple linear regression) using the SPSS V28 statistical software. One of the most important conclusions reached by the research is the existence of a statistically significant correlation between strategic leadership (with its three dimensions: clarity of strategic direction, rational use of authority, and ethical and value framework) and the level of outstanding performance in private universities. This indicates that adopting these dimensions contributes to enhancing the universities' ability to improve their focus on beneficiaries, develop their internal processes, and improve their human resource management as key inputs for institutional excellence. The research recommends the necessity of adopting an integrated strategic leadership system in private universities, based on developing clear and updated documents and strategies, promoting organized delegation of powers, establishing the ethical framework, building leadership and human capacities, and supporting a culture of innovation and continuous improvement, in a way that contributes to raising the levels of institutional performance and achieving excellence in the higher education environment.

The purpose of this paper is to examine how artificial intelligence technologies may improve big data analytics, forecast financial behavior, and boost risk management effectiveness in the banking industry. In order to assist the financial viability and competitiveness of digital banks.
The paper focuses on showing how these applications may enhance customer experience, personalize banking services, speed up credit decisions, and lower operational errors. The applied component depended on a virtual database with 5000 loan applications and 21 variables that represented the consumers' financial, behavioral, and demographic traits. (Gradient Boosting, Random Forest, Extra Trees, Gaussian Naive Bayes, Logistic Regression, SVC-RBF, and KNN-15) were the seven machine learning techniques used. Six metrics were used to assess their performance: (F1 Score, ROC-AUC, Brier Score, Accuracy, Precision, and Recall). With the highest ROC-AUC value of 73% and the best probabilistic prediction quality (Brier Score of 0.21), the Gradient Boosting algorithm fared better than the others, according to the data. Random Forest came next, with a recall rate of 73% and an overall accuracy of 67%. Gaussian Naive Bayes, on the other hand, had a comparatively lower accuracy but the greatest recall rate of 82%. These findings demonstrate that the most efficient method for assisting lending decisions and lowering default risks in digital banks is clustering algorithms.

The United Arab Emirates has established a distinguished economic and social model characterized by its ability to keep pace with rapid technological and digital transformations, as well as its continuous expansion in investment and development activities. Despite this progress, the UAE remains vulnerable to fluctuations resulting from global economic crises, including the COVID-19 pandemic, which had a substantial impact on financial markets, liquidity levels, and capital mobility.
This study examines the structural characteristics of the UAE economy and its development policies through key macroeconomic indicators, namely gross domestic product (GDP), the inflation rate, and the public debt ratio. It then analyzes the impact of the COVID-19 crisis on the UAE banking system by focusing on Emirates NBD Bank and First Abu Dhabi Bank, based on selected financial indicators, including net profit, return on assets (ROA), and return on equity (ROE).
Among the most important conclusions reached by the study is that the COVID-19 crisis revealed the resilience and efficiency of the UAE banking sector in dealing with the pandemic and achieving an early recovery. This resilience contributed to financial stability and superior profitability for both banks. However, the pace and nature of recovery differed between the two institutions. Emirates NBD Bank achieved the highest levels of profitability and return on assets, while First Abu Dhabi Bank maintained steady growth, reflecting the adoption of a long-term risk management strategy. This diversity in banks’ policies contributes to the creation of a balanced banking system capable of effectively coping with crisis.
As for the key recommendations, the study emphasizes the need to strengthen the role of the banking sector in raising public awareness, as well as monitoring the damages suffered by customers in the aftermath of crises, giving due consideration to their interests, and ensuring the protection of their rights through a comprehensive set of regulatory and supportive measures.

The research aims to study and analyze the risks associated with the adoption of accounting information systems, particularly human, technological, environmental, and legal risks. It also addresses the literature related to the reliability of the external auditor’s report by highlighting the nature of these risks and explaining the extent to which they affect the quality and credibility of audit reports issued by local audit firms.
The research is based on the hypothesis that identifying the risks of adopting and operating accounting information systems by regulatory bodies and relying on auditors who possess the professional capability to disclose such risks, will positively reflect on the reliability of the final audit report for stakeholders who rely on accounting information. To achieve the objectives of the study, a conceptual framework was developed that covers the accounting information system, its internal structure, and the risks associated with its adoption. In addition, the framework analyzes the dependent variable represented by the reliability of the external auditor’s report and the characteristics that this report must include. The study also clarifies the role that risk identification can play, especially risks related to human factors involving system designers and operators, and technological risks related to the information infrastructure of business organizations.The researcher concluded that the level of disclosure regarding the risks of adopting accounting information systems in audit reports is still limited and incomplete. A significant portion of audit output continues to focus on traditional financial tests, without expanding into the evaluation of risks associated with modern systems. It was also found that the lack of systematic identification of these risks directly affects the reliability of the audit report and reduces the ability of users of financial statements to rely on it.
The researcher recommends that audit reports should include an annex or a dedicated section addressing risks related to accounting information systems, and that an evaluation methodology should be adopted encompassing human, technological, environmental, and legal risks, in addition to determining the impact of these risks on the fairness and credibility of financial data. The study further recommends enhancing the training of regulatory staff on mechanisms for evaluating risks associated with modern systems and integrating the results of such evaluations into the contents of the external auditor’s report, in a manner that strengthens reliability and transparency for all stakeholders.

Achieving sustainable development requires a framework for decision-making, accountability, and management, which good governance provides. According to the World Bank's Sustainable Development Goals (SDG) report, Iraq has a performance gap of 34.1% in achieving the SDGs, which constitutes the applied problem of this study. Therefore, this study seeks to answer the main question: What is the role of good governance in achieving sustainable development through the mediation of Total Quality Management (TQM)? To achieve this, the study was conducted in the Iraqi Ministry of Electricity, and a sample of 100 department and division managers was selected. To collect data from this sample, a questionnaire was designed and distributed to 130 managers, of which 110 were returned, and 100 of these were deemed valid for analysis, representing the final sample size. Furthermore, the study employed quantitative analysis of the performance indicators adopted by the Iraqi Ministry of Electricity. The study utilized a deductive approach and a descriptive-analytical method in presenting and analyzing its data. The data was analyzed using SPSS software. The study concluded that the surveyed sample recognizes the importance of good governance indicators in achieving sustainable development. The analysis revealed that good governance has a significant and statistically significant impact on sustainable development, and that the influence of good governance indicators on sustainable development is growing. The study recommended that the Iraqi Ministry of Electricity adopt good governance indicators as a framework for decision-making, accountability, and efficiency to improve its performance towards achieving sustainable development.

This study aimed to determine the impact of organizational culture promotion mechanisms on the adoption of environmentally friendly technologies in the Iraqi Ministries of Environment and Industry and Minerals. While the impact of organizational culture has been extensively studied, its specific effect on the adoption of environmentally friendly technologies has not been previously investigated, which constitutes the epistemological problem addressed by this study. Furthermore, the Iraqi environment suffers from a lack of applied studies and empirical evidence related to environmental sustainability. Therefore, this study seeks to answer the central question: What is the impact of organizational culture promotion mechanisms on the adoption of environmentally friendly technologies? This study was conducted in the Iraqi Ministries of Environment and Industry and Minerals. Data were collected from a purposive sample of 110 senior administrative leaders in these ministries.
The study employed an inductive approach and used a descriptive-analytical method to present and analyze its data. Data analysis was conducted using SPSS and Amos software. Exploratory and confirmatory factor analysis was used to verify the quality of the study instrument and model. Descriptive analytical tools such as the arithmetic mean, standard deviation, and coefficient of variation were used to present, analyze, and interpret the study data. Simple regression was used to test the hypotheses.
The study concluded that the mechanisms adopted to enhance organizational culture constitute an integrated and interconnected system that fosters an organizational environment supportive of adopting environmentally friendly technologies. These mechanisms have a cumulative and interactive impact on promoting environmental values and transforming them from mere theoretical concepts into daily organizational practices. When leadership adopts exemplary environmental behaviors and expresses a clear commitment, designs reward systems to encourage green practices, creates a flexible organizational culture adaptable to technological changes, uses rituals and symbols that reinforce environmental identity, and provides training programs that develop environmental awareness and skills, they collectively create a profound cultural shift. This shift makes the adoption of environmentally friendly technologies not merely a response to external demands, but an integral part of the organizational identity and an automatic behavior for employees at all levels.

In recent years, institutions have faced increasing challenges, including resource scarcity, shifting customer expectations regarding service quality, and growing commitments to economic, social, and environmental sustainability. Amid these challenges, international reports, including the 2024 Sustainable Development Goals (SDGs) report, highlight the limited progress towards achieving the SDGs in Iraq. The report indicates that nearly half of the goals are showing only slight or moderate progress, while more than a third are moving in the opposite direction. This reality underscores the need for continuous improvement in institutional processes, a goal to which Total Quality Management (TQM) contributes by enhancing performance efficiency, optimizing resource utilization, and developing skills. This issue is particularly relevant in Iraq, as the World Bank's SDGs report indicates a performance gap of 34.1%, making an analysis of TQM's role essential to understanding its contribution to bridging this gap. This research aims to analyze the impact of Total Quality Management (TQM) on achieving sustainable development within the Iraqi Ministry of Electricity. This is achieved by measuring the level of TQM implementation and its reflection on performance indicators. The study relied on a sample of 100 department and division managers. A total of 130 questionnaires were distributed, 110 were returned, and 100 valid questionnaires were analyzed using SPSS software. The results showed a clear understanding among the sample of the importance of TQM practices in promoting sustainable development. Furthermore, the results indicated a statistically significant impact of TQM on sustainable development. The study recommends strengthening the adoption of TQM principles within the Ministry of Electricity as a framework for improving processes and enhancing performance efficiency. This will contribute to bridging the performance gap and achieving tangible progress towards sustainable development.