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Article
Publication date: 20 December 2024

Muhammad Shoaib Farooq and Maimoona Salam

The relationship between corporate-level green entrepreneurial orientation (GEO) and the implementation of cleaner production practices (CPPs) is to a great extent unexplored in…

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Abstract

Purpose

The relationship between corporate-level green entrepreneurial orientation (GEO) and the implementation of cleaner production practices (CPPs) is to a great extent unexplored in previous literature. This study aims to connect them with the corporate-level green supply chain learning and organizational competitive aggressiveness, presenting a novel interpretation of social ethics and morality in CPPs.

Design/methodology/approach

To thoroughly explore this novel relationship, this study has used PLS-SEM for examining the moderated-mediation of competitive aggressiveness and green supply chain learning.

Findings

Findings based on the data collected from 176 German firms have largely confirmed our propositions. Suggesting that there is a strong positive relationship between corporate level GEO and CPPs. Furthermore, our findings have confirmed that green supply chain learning mediates the macro-level relationship between GEO and CPPs. Moreover, it is also confirmed that the mediation of green supply chain learning in the macro-level relationship between GEO and CPPs is negatively moderated by competitive aggressiveness.

Originality/value

This study offers a first-hand view of negatively moderated-mediation of competitive aggressiveness. Therefore, its findings are extremely relevant for policymakers in the domain of morality, social ethics, corporate-level GEO, sustainability, corporate-level green supply chain learning and CPPs.

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Article
Publication date: 11 January 2024

Muhammad Farooq, Asrar Ahmed, Imran Khan and Muhammad Munir

This study aims to investigate the impact of dividend policy on a firm’s participation in corporate social responsibility (CSR)-related activities in the context of Pakistani…

433

Abstract

Purpose

This study aims to investigate the impact of dividend policy on a firm’s participation in corporate social responsibility (CSR)-related activities in the context of Pakistani firms. Furthermore, the role of the board governance mechanism in dividend policy-CSR is investigated.

Design/methodology/approach

The study’s sample consists of 115 nonfinancial Pakistan Stock Exchange-listed firms from 2010 to 2021. A multidimensional financial method is used to assess the firm’s CSR engagement, and dividend policy is assessed using the dividend payout ratio and dividend yield. The authors used the fixed effect model and the random effect model to fulfill the study’s objectives. Furthermore, the system-generalized method of moment estimation technique is used to test the robustness of the result. In addition, the authors perform reverse causality analysis and investigate the effect of financial constraints on the dividend policy–CSR relationship.

Findings

The authors find that dividend policy has a significant positive impact on CSR. The authors also find that dividend policy is significantly positively associated with components of CSR, i.e. donation, employee welfare and research and development. Furthermore, the authors find that the board governance mechanism strengthens this positive relationship between dividend policy and CSR.

Practical implications

The government and authorities must mandate or at least encourage enterprises to pay dividends as doing so not only keeps shareholders happy but also encourages firms to make CSR initiatives to balance stakeholders. Furthermore, the regulator should take steps to strengthen the board governance structure as it strengthens the positive dividend policy–CSR relationship.

Originality/value

Although little previous research has focused on the CSR-dividend policy link, the authors believe that this is the first study to look at the influence of dividend policy on CSR and the moderating impact of board governance mechanisms in an emerging country, namely, Pakistan.

Details

Journal of Global Responsibility, vol. 16 no. 1
Type: Research Article
ISSN: 2041-2568

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Article
Publication date: 4 February 2025

Muhammad Adnan Afzal, Khalid Hussain, Muhammad Aamir, Muhammad Farooq Rehan and Shoaib Masood Khan

This study examines the impact of five dimensions of decent work on the faculty engagement in Pakistan’s higher education institutions. Furthermore, it examines the moderating…

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Abstract

Purpose

This study examines the impact of five dimensions of decent work on the faculty engagement in Pakistan’s higher education institutions. Furthermore, it examines the moderating influence of intrinsic religiosity on the associations above.

Design/methodology/approach

This research employed a cross-sectional approach to collect data from 542 faculty members working with higher education institutions through electronic and in-person questionnaire administration.

Findings

The findings indicate that safe interpersonal working conditions, opportunities for free time and rest, adequate compensation, and the availability of healthcare services significantly positively impact the level of work engagement among faculty members. Additionally, the research revealed that intrinsic religiosity reinforces the previously established significant associations.

Research limitations/implications

The research acknowledges specific constraints that could impact the applicability of its findings, including the utilization of a cross-sectional methodology, the dependence on self-reported information, and the possibility of sample biases. Subsequent investigations may rectify these constraints to provide a more all-encompassing comprehension of the subject matter.

Practical implications

The findings possess practical significance for the management of HEIs in cultivating an ideal working atmosphere for faculty members. Ensuring adequate compensation, secure working environments and healthcare accessibility is underscored to enhance faculty engagement. Furthermore, acknowledging the significance of intrinsic religiosity can improve faculty engagement.

Originality/value

This research contributes to the current body of literature by investigating the complex relationship among decent work, faculty engagement, and intrinsic religiosity in the specific context of higher education institutions in Pakistan.

Details

Journal of Management Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 23 July 2024

Muhammad Farooq, Muhammad Imran Khan, Qadri Aljabri and Muhammad Tahir Khan

This study aims to examine the impact of corporate governance on the speed of adjustment (SOA) of capital structure in a developing market, Pakistan.

444

Abstract

Purpose

This study aims to examine the impact of corporate governance on the speed of adjustment (SOA) of capital structure in a developing market, Pakistan.

Design/methodology/approach

The study's sample includes 173 non-financial enterprises that were listed on the Pakistan Stock Exchange (PSX) between 2011 and 2020. The capital structure of the sample companies is determined by the ratio of total debt to total debt plus the market value of equity. Corporate governance is measured by board size, independence, CEO duality, management ownership, blockholders ownership and institutional ownership. A two-step difference GMM model was used to achieve the study's objectives.

Findings

Through applying the reduced form model approach, we discovered that corporate governance variables have a considerable negative impact on the speed of targeted leverage adjustment in sample firms. Additionally, to check the robustness of results, the two-stage technique used to examine this corporate governance-SOA relationship. Furthermore, we discovered that smaller enterprises modify their capital structure more than larger firms. Furthermore, corporations prioritize short-term debt adjustment above long-term debt adjustment.

Practical implications

The study's findings provide further information to company managers and investors on the relationship between corporate governance quality and the pace of adjustment towards targeted leverage across Pakistani enterprises. Furthermore, this study adds new information from growing countries such as Pakistan to the existing literature, which can help regulatory authorities and policymakers improve the quality of corporate governance. It is commonly known that improving the quality of corporate governance practices improves the firm's capital structure, which benefits all stakeholders.

Originality/value

In the context of developing economies, the academic literature lacks research that examine the impact of corporate governance on dynamic capital structure decisions. This study intends to fill this gap.

Details

International Journal of Managerial Finance, vol. 21 no. 1
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 28 January 2025

Muhammad Imran Khan, Muhammad Farooq, Qadri Al Jabri, Saif Ullah and Mazhar Hussain

A company’s dividend policy is determined not just by its strategy but also by the qualities of its managers, particularly overconfidence. As a result, the purpose of this study…

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Abstract

Purpose

A company’s dividend policy is determined not just by its strategy but also by the qualities of its managers, particularly overconfidence. As a result, the purpose of this study is to explore the impact of CEO overconfidence on dividend policy using the dividend payout ratio and dividend yield ratio.

Design/methodology/approach

The study’s sample includes 170 non-financial enterprises listed on the Pakistan Stock Exchange between 2011 and 2022. Furthermore, we used corporate governance and firm-specific factors as control variables. The fixed effect model based on the Hausman test result and dynamic system GMM estimation technique was employed in the analysis. Furthermore, the dividend dummy variable and alternative proxies of dividend payments are used to ensure the results are robust.

Findings

The findings indicate that CEOs’ overconfidence positively impacts dividend payout and dividend yield ratios. Further analysis reveals that board size and remuneration committee significantly impact dividend payment among corporate governance control variables, while block holding has a negative effect. Among firm-specific control variables, the results suggest that firm size, profitability, and market-to-book ratio are significantly positively associated. In contrast, the coefficient of variation and debt ratio are inversely associated with dividend payments.

Practical implications

Managerial overconfidence benefits shareholders by increasing dividend payouts, but firms may struggle in the long run if they do not have adequate retained earnings to meet capital requirements. Dividends and retained earnings must be balanced to make enough funds available for long-term investment in capital-intensive projects.

Originality/value

Although little previous research has focused on the managerial overconfidence-dividend policy relationship, the authors believe this is the first study to test this relationship generally in emerging markets, particularly Pakistan.

Details

Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 7 September 2023

Muhammad Farooq, Qadri Al-Jabri, Muhammad Tahir Khan, Asad Afzal Humayon and Saif Ullah

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of…

636

Abstract

Purpose

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of an emerging market, i.e. Malaysia.

Design/methodology/approach

This study includes 300 bank-year observations from Islamic and conventional banks over the period 2010–2021. The dynamic panel model (generalized method of moments [GMM]) was considered the primary estimation model that solves simultaneity, endogeneity and omitted variable problems as most governance variables are endogenous by nature. Hence, static models are considered biased after conducting the DWH test of endogeneity, and considering dynamic panel GMM is valid proven by Sargan and Hensen and first-order (ARI) and second-order (ARII) tests.

Findings

Based on the regression results, the authors discovered that board size, female participation in the board and director remuneration have a significant positive impact on bank performance, whereas board meetings have a significant negative impact. Furthermore, the board governance structure of commercial banks is found to be more passive than that of Islamic banks.

Practical implications

The study’s findings added a new dimension to governance research, which could be a valuable source of knowledge for policymakers, investors and regulators looking to improve existing governance mechanisms for better performance of conventional and Islamic banks.

Originality/value

The goal of this study is to add to the existing literature by focusing on the impact of female board participation and other board governance mechanisms in both conventional and Islamic banks on bank performance.

Details

Journal of Islamic Accounting and Business Research, vol. 16 no. 2
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 5 December 2024

Yaseen Ahmad Sahibzada, Muhammad Ali, Naveed Toru, Muhammad Farooq Jan and Abida Ellahi

This study aimed to investigate the relationship between exploitative leadership (EL) and employee green innovative behavior (GIB) in the hospitality sector organizations of…

33

Abstract

Purpose

This study aimed to investigate the relationship between exploitative leadership (EL) and employee green innovative behavior (GIB) in the hospitality sector organizations of Pakistan. The relationship between EL and GIB is mediated by emotional exhaustion (EE). Perceived organizational support (POS) is used as a moderator between EL and EE.

Design/methodology/approach

The study used convenience and purposive sampling techniques from the population, and the data collected on the structured questionnaire were analyzed through structural equation modeling (SEM) using SmartPLS. The data analysis involved the assessment of the measurement model and structural model.

Findings

The results of the data analysis show that EL has a significant and negative influence on employee GIB, and EE mediates the relationship, meaning EE caused by EL lowers GIB. The moderating effect of perceived organization support between EL and EE also lowers the effects of EL and diminishes EE leading to increased GIB.

Practical implications

The findings of the study suggest that organizations in the hospitality sector like hotels and resorts need to focus on the POS to curb EE in employees due to EL to accelerate positive attitudes at work. Investments of resources in this avenue can enhance employee engagement and improve organizational performance while contributing to environmentally sustainable goals.

Originality/value

The originality of the study lies in the findings that in the presence of higher perceived organization support, the negative effects of EL are mitigated, and this leads to the replenishment of the emotional resources of employees, which allows them to engage in GIBs. GIB is a term that is being researched by the scholars in the hospitality industry of Pakistan. Conservation of natural resources is only possible through individual efforts, especially the efforts of individuals whose livelihoods depend on environmentally related industries, such as hospitality.

Details

Journal of Hospitality and Tourism Insights, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9792

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Article
Publication date: 8 January 2025

Muhammad Bilal Farooq, Khwaja Naveed, Fahad Khalid, Anil Kumar Narayan and Ibrahim Mustafa Khudir

Given growing concerns about water scarcity, this study aims to investigate the extent and quality of corporate water management disclosures (hereafter water disclosures) in…

144

Abstract

Purpose

Given growing concerns about water scarcity, this study aims to investigate the extent and quality of corporate water management disclosures (hereafter water disclosures) in countries and jurisdictions facing extremely high water-stress levels. Contextual factors, at a macro/country, meso/stock exchange and micro/company level, influencing water disclosures, are examined.

Design/methodology/approach

The authors adopted an institutional perspective, integrating multi-level organizational fields, including micro/company-level, meso/stock exchange-level and macro/national-level influences while considering factors such as corporate governance (CG), regulatory stringency, cultural traits, advocacy for environmental management, environmental performance and sustainability indices. The authors use a GRI 303-based index to evaluate water disclosures of the top 100 listed companies from 12 stock-exchanges based in extremely high water-stress countries over a five-year period from 2016to 2020. While checking for robustness, the authors evaluate the impact of normative, coercive and mimetic forces on water disclosures at country, stock exchange and company levels.

Findings

Overall, water disclosure rates/extent and quality remain low with only incremental improvements observed over the five-year period. In terms of drivers, at a micro-level, the authors find that robust CG positively impacts water disclosure quality. At a meso level, regulatory stringency, environmental advocacy and the presence of a sustainability index positively influence water disclosure quality. At a macro level, power distance, uncertainty avoidance and masculinity negatively impact water disclosure quality, whereas long-term orientation and uncertainty avoidance positively impact it. Furthermore, countries characterized by robust governance and high environmental performance negatively influence disclosure quality in water sensitive industries.

Practical implications

The findings may prove useful to policymakers and regulators, including stock exchanges, in strengthening water disclosure requirements. Standard-setters may consider introducing more guidelines to assist reporters in improving the quality of their disclosures. Practitioners (managers and assurance providers) may use the findings to benchmark corporate reporting practices.

Social implications

The research provides insights that can inform policies promoting transparency and accountability around corporate use of societies’ scarce water resources. The study advances responsible water stewardship, aligning corporate actions with global sustainability goals, particularly around water scarcity. In doing so, these findings have implications that extend beyond corporate disclosure practices, impacting broader environmental conservation and resource management efforts.

Originality/value

The study examines corporate water disclosure rates and qualities in extremely high water-stress countries and jurisdictions. The evaluation of these disclosures using a GRI 303-based index generates a unique dataset that is analysed from a multi-level institutional perspective (micro, meso and macro) to provide insights into the factors influencing corporate water disclosure practices.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 26 August 2024

Muhammad Bilal Farooq, Rashid Zaman, Stephen Bahadar and Fawad Rauf

This study aims to examine whether the adoption of the International Integrated Reporting Council’s Integrated Reporting Framework (IIRC Framework) influences the extent of…

178

Abstract

Purpose

This study aims to examine whether the adoption of the International Integrated Reporting Council’s Integrated Reporting Framework (IIRC Framework) influences the extent of forward-looking disclosures provided by reporters.

Design/methodology/approach

This study captures forward-looking disclosures of Australian and New Zealand-based reporters by analysing integrated and annual reports over a period of 10 years from 2010 to 2019 using a machine learning algorithm. This study uses signalling theory to frame the analysis.

Findings

This study finds that the adoption of the IIRC Framework has a significant positive impact on the extent of forward-looking disclosures provided by reporting entities. The primary evidence suggests that while listing status alone negatively influences the extent of forward-looking disclosures, the additional analysis reveals that the acceptance of the IIRC Framework by listed entities is positively associated with an increase in forward-looking information. These results remain valid when subjected to a variety of robustness (alternative variables and country fixed effect) and endogeneity (system generalised method of moments and entropy balancing estimations) tests.

Practical implications

The findings have practical implications as regulatory agencies (including stock exchanges and standard setters), seeking to promote greater forward-looking disclosures, may want to encourage the adoption of the IIRC Framework.

Social implications

The IIRC’s Framework promotes greater forward-looking disclosures benefiting stakeholders who gain a better understanding of the reporters’ future risks and opportunities (including social, economic and environmental risks) and how these are being managed/addressed.

Originality/value

This study provides novel evidence by highlighting the role played by the IIRC Framework in promoting forward-looking disclosures.

Details

Sustainability Accounting, Management and Policy Journal, vol. 16 no. 1
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 20 November 2024

Shahirah Abu Bakar, Ioan Pop and Norihan Md Arifin

This paper aims to explore dual solutions for the flow of a hybrid nanofluid over a permeable melting stretching/shrinking sheet with nanoparticle shape factor, second-order…

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Abstract

Purpose

This paper aims to explore dual solutions for the flow of a hybrid nanofluid over a permeable melting stretching/shrinking sheet with nanoparticle shape factor, second-order velocity slip conditions and viscous dissipation. The hybrid nanofluid is formulated by dispersing alumina (Al2O3) and copper (Cu) nanoparticles into water (H2O).

Design/methodology/approach

The governing partial differential equations (PDEs) are first reduced to a system of ordinary differential equations (ODEs) using a mathematical method of similarity transformation technique. These ODEs are then numerically solved through MATLAB’s bvp4c solver.

Findings

Key parameters such as slip parameter, melting parameter, suction parameter, shrinking parameter and Eckert number are examined. The results reveal the existence of two distinct solutions (upper and lower branches) for the transformed ODEs when considering the shrinking parameter. Increasing value of Cu-volume fraction and the second-order velocity slip enhances boundary layer thicknesses, whereas the heat transfer rate diminishes with rising melting and suction parameters. These numerical results are illustrated through various figures and tables. Additionally, a stability analysis is performed and confirms the upper branch is stable and practical, while the lower branch is unstable.

Practical implications

The analysis of hybrid nanofluid flow over a shrinking surface has practical significance with applications in processes such as solar thermal management systems, automotive cooling systems, sedimentation, microelectronic cooling or centrifugal separation of particles. Both steady and unsteady hybrid nanofluid flows are relevant in these contexts.

Originality/value

While the study of hybrid nanofluid flow is well-documented, research focusing on the shrinking flow case with specific parameters in our study is still relatively scarce. This paper contributes to obtaining dual solutions specifically for the shrinking case, which has been less frequently addressed.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 35 no. 1
Type: Research Article
ISSN: 0961-5539

Keywords

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