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Prior research has shown that implementing International Financial Reporting Standards (IFRS) increases foreign direct investments at the macroeconomic (country) level. This study aims to demonstrate that the implementation of mandatory adoption of IFRS positively influences foreign shareholdings at the company level in Saudi Arabia.

The fixed effects regression model is used to estimate the impact of the adoption of IFRS on foreign ownership in a panel data set for Saudi Arabia over the period 2010 through 2021.

This study finds that IFRS adoption reduces information asymmetry and increases comparability, which attracts foreign investors. It also finds that firms with high foreign ownership have greater capital expenditures post-IFRS adoption, suggesting that foreign investors encourage firms to align their interests with those of shareholders and make more long-term investments. This paper demonstrates that firms increased their long-term investments and garnered greater free cash flows after adopting IFRS. Finally, this paper observes a positive association between IFRS employment and market liquidity.

To the best of the authors’ knowledge, this is the first research to reveal that, following the compulsory adoption of IFRS, foreign shareholdings have a favorable effect on corporate investments (capital expenditures and property, plant and equipment) at the micro (firm) level. It has been motivated by the assertion that a lack of portfolio investments results primarily from an asymmetry of information, which can be mitigated by providing high quality comparable financial information based on IFRS.

This research aims to evaluate the accuracy of several Value-at-Risk (VaR) approaches for determining the Minimum Capital Requirement (MCR) for Islamic stock markets during the pandemic health crisis.

This research evaluates the performance of numerous VaR models for computing the MCR for market risk in compliance with the Basel II and Basel II.5 guidelines for ten Islamic indices. Five models were applied—namely the RiskMetrics, Generalized Autoregressive Conditional Heteroskedasticity, denoted (GARCH), fractional integrated GARCH, denoted (FIGARCH), and SPLINE-GARCH approaches—under three innovations (normal (N), Student (St) and skewed-Student (Sk-t) and the extreme value theory (EVT).

The main findings of this empirical study reveal that (1) extreme value theory performs better for most indices during the market crisis and (2) VaR models under a normal distribution provide quite poor performance than models with fat-tailed innovations in terms of risk estimation.

Since the world is now undergoing the third wave of the COVID-19 pandemic, this study will not be able to assess performance of VaR models during the fourth wave of COVID-19.

The results suggest that the Islamic Financial Services Board (IFSB) should enhance market discipline mechanisms, while central banks and national authorities should harmonize their regulatory frameworks in line with Basel/IFSB reform agenda.

Previous studies focused on evaluating market risk models using non-Islamic indexes. However, this research uses the Islamic indexes to analyze the VaR forecasting models. Besides, they tested the accuracy of VaR models based on traditional GARCH models, whereas the authors introduce the Spline GARCH developed by Engle and Rangel (2008). Finally, most studies have focus on the period of 2007–2008 financial crisis, while the authors investigate the issue of market risk quantification for several Islamic market equity during the sanitary crisis of COVID-19.

This study aims to investigate factors that drive or deter audit firms (AFs) from disclosing audit quality (AQ) information to stakeholders in Iran. Furthermore, information items that should be contained in their disclosures are examined.

The study followed an interpretive approach. In this regard, 21 semi-structured and face-to-face interviews were conducted to explore the viewpoints of audit partners and investment managers. Interviewees were selected by snowball sampling method. The transcripts of audio records were prepared, and a thematic perspective was applied to evaluate transcriptions.

Participants’ interpretations indicate that certain factors, such as signaling to stakeholders, active audit committees and investor demand, promote transparency among Iranian AFs. Nonetheless, this inclination is deterred by some concerns, including poor AQ, lack of financial resources, lack of legal enforcement, fear of raising stakeholders’ expectations, inactive professional associations and contextual factors which should be addressed. Interviewees believe five items should be contained in AFs’ disclosures to enhance transparency.

This study contributes to recognizing factors explaining AFs’ behavior in the context of an Islamic country. Furthermore, the type of disclosure that should be contained can provide good insight for standard setters or oversight bodies.

The semi-structured interviews shed light on the contextual factors that influence transparency within the accountancy profession, either enabling or hindering it. Additionally, it is crucial to consider each country’s unique characteristics when determining the disclosure items in transparency reports.

This research examines the impact of the COVID-19 pandemic and governance structure on corporate narrative reporting (CNR) concerning Industry 4.0 (I4.0) technologies in Jordanian commercial banks. The study aims to explore how these factors influence the extent and nature of disclosures in annual reports.

The study uses a comprehensive manual content analysis method to investigate the annual reports from all 15 Jordanian commercial banks from 2010 to 2022. This approach allows for the detailed examination of I4.0 disclosures, using a specially developed index to measure various disclosure dimensions. An ordinary least squares model is used to assess the determinants of CNR on I4.0, considering factors such as the pandemic’s impact and various governance attributes.

The findings indicate that both the COVID-19 pandemic and specific governance factors (e.g. board size and audit committee size) significantly enhance the disclosure of I4.0 technologies. The study reveals that during the pandemic, banks significantly increased their level of detailed disclosures about I4.0 strategies, challenges and benefits, reflecting a strategic response to the pandemic’s disruption.

This study introduces a novel I4.0 Reporting Index for banks, measuring disclosures across strategy implementation, business model transformation, challenges and benefits. It adds to the existing literature by offering insights into narrative reporting practices concerning I4.0 technologies within the banking sector and illuminates the impact of the COVID-19 pandemic on these practices.

The study aims to identify the determinants of customer satisfaction in the electronic commerce (e-commerce) industry in Bangladesh. It also investigates whether acceptance of IT innovation mediates the relationship between the determinants of e-commerce and customer satisfaction.

A survey questionnaire had been designed and distributed among the customers of e-commerce businesses. Data were collected from 408 respondents, who were mostly from urban areas of the country. The collected data had been analysed with the application of the partial least square approach using SmartPLS4. First, the measurement model was applied to determine the validity and reliability of the dataset. Then, the structural model was utilized to justify the hypothesis.

The results showed that customer service, perceived ease of use and customer trust in e-commerce services have a significant positive impact on customer satisfaction. The acceptance of IT innovation, which showed a positive influence on customer satisfaction, enhanced customer satisfaction when accompanied by perceived ease of use and digital literacy.

The results would have valuable insight for the e-commerce business in designing their products and services and taking policies to achieve long-term customer loyalty.

This is the first study that incorporates IT innovation acceptance as a mediating variable. Although a number of factors have been identified as the determinants of customer satisfaction, the specific mechanism of IT innovation acceptance as a mediator between predictors and customer satisfaction is unique in this study.

Given the competitiveness of the business environment globally, environmental, social and governance (ESG), which represents a sustainable development framework that integrates environmental, social and corporate governance factors, has become an increasingly recognized concept in emerging markets. In the case of Ghana, its implementation is influenced by several factors, including leadership.

Drawing on the resource-based view theory, higher-order theory and stakeholder theory, we developed and evaluated a serial mediation model to explain how ESG performance and corporate reputation can connect transformational leadership to enhance competitive advantage. Utilizing the Process Macro model 6 in SPSS, data were collected from 340 senior managers/executives and middle-level managers from European multinational firms operating in Ghana.

The results indicate that transformational leadership positively affects ESG performance. Enhanced ESG performance, in turn, leads to improved corporate reputation, which subsequently results in a stronger competitive advantage.

This study is limited to European multinational firms operating in Ghana, which may restrict the generalizability of the findings to other contexts or regions.

The findings suggest that organizations aiming to strengthen their competitive advantage should prioritize transformational leadership practices that foster ESG initiatives, as these are critical drivers of corporate reputation and market positioning.

This study provides new insights into the interwovenness between ESG performance and leadership in enhancing corporate reputation and competitive advantage within the context of emerging markets.

This study aims to examine how women on board influence quality and quantity disclosure of emissions discharge by the listed non-financial firms for the period of six years (2016–2021), with institutional ownership as a moderator.

The study obtained data from a sample of 83 listed non-financial firms. A content analysis technique was employed to compute emissions disclosure indexes using Global Reporting Initiatives standards from the sampled firms. Random and fixed effect regression analyses were run for both direct and moderation models. Based on the results of the Hausman tests, random results were adopted and used in examining the relationship.

The result reveals that women on board are significantly related to emission disclosure. The study also documented that institutional owners have not influenced the relationship between women directors and emissions disclosure.

The study's findings have practical implications for emerging economies, corporations and other business organizations seeking to actively involve the emissions control and reduction issues toward sustainable development goals 5, 7 and 13 in their business models and successfully communicate these efforts to stakeholders.

Listed firms in emerging economies would gain sincerity through the women directors’ knowledge, skills, demographics and ethnicity in the society. Therefore, corporate bodies in emerging economies can successfully contribute toward improving the social welfare of various segments of society by controlling current and future climate issues. Additionally, society will surely benefit when firms control the pollution discharges within the community.

This is the first study, to the best of the authors’ knowledge, that provides empirical evidence on the effect of the presence of women on board on emissions disclosure using institutional ownership as a moderator in Nigeria.

This study examines the moderating role of female directors on the relationship between the firms’ characteristics and tax avoidance in an emerging economy.

This study employs the second-generation unit root test and the generalised method of moments (GMM) techniques. The Kao residual cointegration test corroborates a long-run cointegration among variables.

Female directors demonstrate mixed and unusual findings. No significant impact of female directors on tax avoidance is found. In addition, the presence of female directors does not show any negative or significant moderating impacts on the relationship between leverage, firm age, board size and tax avoidance. However, having more female directors can negatively and significantly moderate the relationship between more profitable firms, larger firms and tax avoidance. These findings show that the board of directors could use the presence of female directors to maximise their opportunistic behaviour, such as to avoid tax.

Research limitations – The study is limited by considering only 62 listed firms. The scope could be extended to include non-listed firms.

Research implications – There is increasing pressure for female directors on boards from diverse stakeholders, such as the European Commission, national governments, politicians, employer lobby groups, shareholders, and Fortune and Financial Times Stock Exchange (FTSE) rankings. This study provides input to decision-makers putting gender quota laws into practice. Our findings can help policy-makers adopt regulatory reforms to control tax avoidance practices and enhance organisational legitimacy. Policymakers can change their policy to include female directors up to the threshold suggested by the critical mass theory.

This is the first attempt in Bangladesh to explore the role of female directors in the relationship between the firms' characteristics and tax avoidance. The current study has significant ramifications for bringing gender diversity into practice as a component of good corporate governance.

This study examines the impact of profitability, firm size and leverage on corporate tax avoidance in Bangladesh, an emerging South Asian economy.

A balanced panel data of 62 firms from Dhaka and Chittagong stock exchanges in Bangladesh from 2009 to 2020 were used to run the regression. This study employed the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) to examine the hypotheses.

The findings show that large firms positively impact corporate tax avoidance. Similarly, profitability and leverage are positively associated with tax avoidance, and the results are significant. Furthermore, the study conducts robustness tests that confirm the findings.

The use of cash effective tax rate (ETR) to investigate firms’ tax avoidance practices poses some limitations, and the results should be interpreted cautiously.

The current study may help policymakers better enhance tax collection from business firms. The findings could serve as a valuable input for effectively monitoring tax collection from large profit-earning firms.

To the authors' best knowledge, this is the first historical attempt in Bangladesh to use panel data to examine the relationship between the firm’s level characteristics and corporate tax avoidance. Panel data often provides greater flexibility with large data, simplifying calculation and statistical analysis.

This study aims to analyze the value of maslahah in impulse buying behavior by investigating the influence of free shipping, cashback and religiosity of Muslim e-wallet users in East Java, Indonesia. Impulse buying, which is prevalent post-COVID-19, accounts for 60%–65% of total shopping, in contrast to conventional shopping, which is only 35%–40%.

This study used a survey study aimed at Millennials and Generation Z. There were 236 respondents, but only 207 were valid and complete. In addition, this study used structural equation modeling-partial least square (SEM-PLS) to validate the hypothesis and evaluate the model. Additional tests were also carried out using multigroup analysis (MGA) to obtain results based on gender perspective.

Free shipping and cashback were shown to have a significant positive impact on impulse buying behavior. Contrary to the initial hypothesis, religiosity showed a significant positive influence on impulse buying. Therefore, consumption behavior should be evaluated using the concept of maslahah, which prioritizes fulfilling the most important needs. Responsible consumption for a Muslim should align with Islamic principles, which teach that wealth should be used for good things. While ideally, maslahah comes first, in a 5.0 society influenced by discounts and added incentives, impulse buying has become a normalized phenomenon. Regarding gender, differences show that men prioritize practical incentives, whereas women focus more on rational considerations and opportunities.

This study uses a sample of several e-wallet brands with the most users in Indonesia; the respondents come from Millennials and Generation Z who are on the island of Java, Indonesia. Thus, it needs to be considered for generalization purposes by adding other brands and respondents from areas outside Java.

The results of this study include implications regarding strengthening the value of religiosity and maslahat in impulse buying of goods.

In line with the results and analysis of this research, which provides a maslahah perspective in the analysis and a gender perspective in the methodology. Thus, this can be recognized as a contribution of thought related to social implications.

This study explores impulse buying based on the gender of respondents, which is not often found in previous research.