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The shadow economy (SE) has been a serious issue with varied dimensions in all countries that significantly affect economic growth. Therefore, all countries have made an effort to tackle the SE by pursuing several measures. This study aims to investigate the impact of financial markets (stock and bond) in reducing the SE while considering the role of country risk (political, economic and financial) in N-11 countries.

The study employed first-generation methodological techniques, including a unit root test to identify stationarity in the series, a panel cointegration test and panel autoregressive distributive lag (ARDL) to estimate long-run and short-run relationships. Finally, the Granger causality is applied to determine the direction of the causal relationship.

The study explored that country risk factors are crucial in reducing the size of the SE. Moreover, the significant moderating role of country risk factors in the financial market development and SE nexus suggests that by controlling the country's risk, financial market development can negatively affect the SE.

Due to the availability of data, the study used data, ranging from 1995 to 2015, because the tax burden data is available from 1995 while the maximum data for the SE is available till 2015, using Medina and Schneider's (2019) data estimates for the SE.

The previous studies have focused explicitly on the role of financial institutions' development in the SE. To the best of the author's knowledge, no previous study is attempted to investigate the role of financial markets (bonds and stock) in the size of the SE. Furthermore, previous studies have ignored the important role of country risk factors in the size of the SE. This study investigates the impact of country risk on the SE and the moderating role of country risk in the development of financial markets and the SE nexus.

This research investigates the complex relationship between economic policy uncertainty (EPU), energy consumption and institutional factors in the Gulf region. The purpose of this study is to examine how institutional factors moderate the impact of EPU on energy consumption in Gulf countries.

This paper uses the dynamic panel autoregressive distributed lag (PARDL) method, over a period stretching from 1996 to 2021 in the Gulf countries.

The results show that, only in the long term, EPU has a positive and significant impact on energy consumption, suggesting that increased EPU leads to increased energy use. Furthermore, this study found that, only in the long term, government effectiveness and regulatory quality have positive and significant effect on energy consumption. Accordingly, the two institutional factors play a moderating role in the EPU−energy consumption nexus.

This study highlights the importance of considering the time dimension when formulating energy and economic policies in Gulf countries. Policymakers should take into consideration the nature of these relationships to make informed decisions that promote energy efficiency and economic stability in the region.

To the best of the authors’ knowledge, this is the first study examining the relationship between EPU and energy consumption in the Gulf countries while incorporating the role of institutional factors as potential mediators.

The purpose of the study is to determine the local antecedents of subsidiary participation in global services and, subsequently, the impact on local performance.

The study is based on a survey with the local subsidiaries of 14 manufacturers engaged in global services as part of their servitisation strategy.

Findings show support for considering the local ability for global services as an antecedent for local subsidiary participation in global services and the local service performance as an outcome. In addition, the results reject our hypotheses related to the specific roles of local opportunity and motivation for global services.

This study provides novel insights on the global service operations of manufacturers by highlighting the perspective of subsidiaries engaged in the local service delivery and development of global services. This perspective sets the conditions of the global-local collaboration in the context of global service strategy with local service delivery.

Drawing on the ability-motivation-opportunity model, this study investigates how gender-inclusive human resource management practices and overall fairness perception promote the career progression of female employees via psychological empowerment.

Partial least structural equation modelling (PLS-SEM) was applied to two-waves data collected from 308 respondents from Pakistan to confirm hypotheses.

Findings suggest that gender-inclusive HRM practices substantially affect female employees' psychological empowerment and career progression. Psychological empowerment is a mediating mechanism that explains the effect of gender-inclusive HRM practices on female employees' career progression. Finally, overall fairness perception further amplifies the effect of gender-inclusive HRM practices on psychological empowerment and career progression.

The study provides evidence to policymakers that organizations may promote psychological empowerment and career progression of female employees by implementing gender-inclusive HRM practices and promoting overall fairness perception.

This study contributes to achieving the SDGs by examining the impact of gender-inclusive HRM practices and overall fairness perception on female employees' psychological empowerment and career progression. Specifically, it aligns with “Goal 5 - achieve gender equality and empower all women and girls” and “Goal 8 - promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all”.

This paper examines and compares the role of social protection to promote inclusive growth in two countries (once related), Pakistan and Bangladesh, from 1984 to 2020, using annual time series data.

The study used principal component analysis to develop the index of social protection, inclusive growth and macroeconomic stability. It also employed co-integration with impulse response function and fully modified ordinary least squares test for long-run cointegration.

The key results highlighted that social protection positively promotes inclusive growth in both countries. However, Bangladesh attains a high position in achieving inclusive growth through the mechanism of welfare programs. Findings show that institutional quality, macroeconomic stability and globalization are the positive and significant drivers of inclusive growth in both countries. It also confirms that macroeconomic stability and globalization are contributing more to achieving inclusive growth in Bangladesh as compared to Pakistan.

Institutions and macroeconomic stability in both countries are critical toward providing a transparent system of welfare schemes to achieve inclusive growth. Shocks to social protection schemes in Pakistan are inconsistent for achieving inclusive growth as compared to Bangladesh.

The study extends the empirical measurement of social protection and inclusive growth while using protracted dimensions and indicators. It further examines and compares the dynamics of social protection programs for inclusive growth in two countries once related. For further originality and reliability, this study checks the robustness of long-run estimates by disaggregating the institutional quality and globalization into their key dimensions.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-07-2023-0548

Corporate social responsibility (CSR) has gained tremendous importance after several corporate scandals, financial crises and the rise of the hyper-competitive world. Firms must address multiple stakeholders’ interests to increase firm value. This study aims to investigate the effect of CSR on firm value. This study also examines the mediating role of enterprise risk management (ERM) and the moderating influence of corporate governance (CG) in this CSR-firm value relationship.

The sample of the study comprises 119 Pakistan Stock Exchange (PSX) listed firms and the study covers the period from 2010 to 2021. The corporate social responsibility performance has been quantified across five dimensions. These aspects are product, environment, employee relations, diversity and community. Four proxies i.e. strategy, operation, reporting and compliance, have been used to measure ERM. The governance quality of the sample companies was evaluated using the governance index, which included 29 governance provisions. The authors used the dynamic panel data technique (system-GMM) is used to achieve the objectives of the study. Furthermore, a firm’s engagement in CSR activities can also be measured through a multinational financial approach to check the robustness of the result.

Based on the regression analysis, the authors discovered that CSR was positively connected with firm value, validating the stakeholder view of CSR. Furthermore, following Baron and Kenny’s (1986) mediation technique, the findings confirm that ERM mediates this association. These results are robust by using the bootstrapping tests by Preacher and Hayes (2004). Furthermore, the result shows that corporate governance (CG) is positively connected with firm performance, and this relationship is strengthened in the presence of an effective governance system in the organization.

This study provides useful insights to regulators, investors and policymakers to consider CSR as a value-enhancing factor and encourage the development of enterprise risk management and compliance with CG mechanisms to improve firm value.

The presented analysis strengthens the existing CSR–firm value relationship by analyzing the mediating and moderating roles of ERM and CG, which have not yet been tested, particularly in the context of Pakistan.

The gradual expansion of the tourism sector is raising concerns about whether tourism-based economies are conducive to supporting green growth. Hence, the current study aims to analyze the direct impact of tourism motives on green growth along with the indirect impact of tourism-based economic expansion while controlling for country risk and renewable energy.

An unbalanced panel data for a sample of 21 countries comprising OECD and non-OECD economies are employed for the analysis.

Regression results reveal that leisure tourism (LT) significantly and positively influences CO₂ intensity compared to business tourism (BT). Propensity score matching results show that the most traveled tourist destinations contribute more to CO₂ intensity than those less traveled. Mediation analysis by employing Baron and Kenny’s three-step regression, Sobel’s test and Monte Carlo test shows that tourism-based economic expansion significantly mediates between the nexus of LT and CO₂ intensity.

Results of the study provide useful practical implications for sustainable economy and green growth. It recommends to mitigate the challenges of LT, reducing the negative impact and to harness the potential of BT, enhancing the positive influence, through various policies and practices.

This study is the first to examine the impact of LT and BT on green growth, to explore the role of destination popularity and the mediating role of tourism-based economic expansion in this relationship.

Microfinance institutions (MFI) must adapt to rapidly changing market conditions, including stringent regulations and diverse customer demands, necessitating a high absorptive capacity. This research elucidates how organizational culture promotes knowledge sharing, thereby enhancing an organization’s ability to absorb and utilize new knowledge, with particular attention to the moderating role of MFI size.

Data were collected from 450 randomly selected employees of MFIs in Pakistan. Hypotheses were tested using structural equation modeling in WarpPLS 8.0.

The findings show that knowledge sharing mediates the relationship between organizational culture and absorptive capacity. The impact is more pronounced in larger MFIs, while smaller MFIs exhibit greater agility in adapting to new knowledge.

MFIs, particularly in dynamic markets like Pakistan, should enhance their absorptive capacity by fostering an organizational culture that promotes knowledge sharing. While larger MFIs benefit from structured knowledge-sharing practices, they should address potential bureaucratic impediments to maintain agility.

By improving absorptive capacity, MFIs can better innovate and tailor their services to underserved communities, contributing to financial inclusion and poverty alleviation in Pakistan. This research provides insights for policymakers and practitioners on fostering sustainable development through strategic organizational practices in MFIs.

The findings offer a practical framework linking theoretical concepts from the resource-based and knowledge-based views to real-world applications, particularly in developing economies. It emphasizes the crucial role of organizational culture in enabling MFIs to adapt and thrive in challenging environments.

This study aims to investigate the influence of requirement engineering (RE) on project performance (PP) in the context of NEOM* in Saudi Arabia. The study also aims to examine the relationship between three components of RE, evolving market needs (ECN), market changes (MC) and technological advancements (TA), on PP, through the mediating influence of effective communication (EC), change readiness (CR) and stakeholder engagement (SE). Further, the study aims to examine the moderating effect of team cohesion (TC) on the RE–PP relationships.

A research framework is developed by drawing on the resource-based theory and with the support of empirical evidence and rational arguments to propose a set of hypotheses relating to the constructs in the framework. The hypotheses are tested through survey data collected from individual employees working on different projects across NEOM. A total of 336 useable responses were collected that were analyzed through covariance-based structural equation modeling using AMOS v.28.

The results show although ECN and TA both have a positive impact on PP, MC had no significant relationship with PP. In terms of the mediation hypotheses, EC, CR and SE all partially mediate the relationships between ECN and TA with PP. However, there was no mediating effect in the relationship between MC and PP. Moreover, EC, CR and SE themselves have a significant positive influence on PP. Finally, TC proved to be a significant moderator between ECN and PP and TA and PP, but not in the case of MC and PP.

This study makes three novel contributions. First, most prior empirical studies examined the overall impact of RE on PP; however, the current study provides a more nuanced insight into the relationships between the three components of RE (i.e. ECN, MC and TA) and PP. Second, the mediating roles of EC, CR and SE between components of RE and PP present a finer-grained understanding of how project resources are linked to project success goals through features of the project team. Third, moderating influence of TC with regard to a higher possibility of success for projects are highlighted through this discovery.

This study aims to ascertain the role of servant leadership in affecting the knowledge hiding behavior of employees. This study also unfurled the mediating role of prosocial motivation and moderating role of cynicism.

The data were collected from 324 employees working in the IT sector, a subsector of the service sector of Pakistan in two phases. The data was analyzed through hierarchal regression.

This study found servant leadership to be negatively related to knowledge hiding behavior. This study also confirmed the mediating role of prosocial motivation linking servant leadership to knowledge hiding. Finally, cynicism was found to moderate the relationship between servant leadership and knowledge hiding behavior.

This academic endeavor has confirmed the previously unexplored relationship between servant leadership and knowledge hiding behavior. Additionally, the study has explicated the mediating role of prosocial motivation in the said relationship. This study has also found that the relationship between servant leadership and knowledge hiding is moderated by organizational cynicism.