This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.
Abstract
Purpose
This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.
Design/methodology/approach
Based on the selected criteria, 92 Islamic banks (IBs) from 20 countries were selected for further research. The authors used generalized method moments (GMM) estimation method. The agency cost and Shariah board characteristics are the explanatory variables. The author uses the age of the bank and the size of the bank for variable control.
Findings
Empirical results indicate that first, agency costs represented by cast/total assets negatively affect IBs’ return on equity and net income. As agency costs rise, IBs’ financial performance declines. Second, Shariah supervisory board (SSB) size and board independence affect IB performance. The study found that SSB size positively affects IB performance.
Research limitations/implications
This research contributes to the literature on IBs in different countries, which policymakers and practitioners can use to improve agency cost functions and Shariah board characteristics. Second, this analysis shows that IBs require specific attention for agency charges, given their operations and business structures. This study contributes to agency theory, which requires Islamic banking information and practices. Finally, the author has aided regulators and IBs by identifying the sources of agency cost practices that can be resolved. The other bank governance contribution is twofold. First, the author studied dual board governance in IBs (SSB and ordinary boards of directors). Second, the author examines how SSB and traditional board governance affect IB performance. This research focuses on banks listed on stock exchanges in the 20 countries analysed.
Practical implications
The research has policy and practical implications for central banks and IBs. By outlining appropriate regulatory guidelines and reporting systems, regulatory authorities can ensure Sharia compliance and protect the independence of IB Shariah department officers. Regulators and relevant stakeholders must ensure Sharia compliance, audits, inspections, reporting and accurate disclosure for IBs.
Originality/value
This paper offers original contributions to professionals in the field of IBs and stakeholders investigating the relationship between agency costs, governance of IBs, characteristics of Islamic supervisory boards and the performance of IBs.
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Hossa F. Al-Shareef, Ahmed M. Yousif, Rafaat Eleisawy, Ammar M. Mahmoud and Hamada Abdelwahab
This paper aims to prepare alkyd protective paint by using modified alkyd with 3,6-dichloro benzo[b]thiophene-2-carbonyl glutamic acid (DCBTGA) as a source of dicarboxylic acid…
Abstract
Purpose
This paper aims to prepare alkyd protective paint by using modified alkyd with 3,6-dichloro benzo[b]thiophene-2-carbonyl glutamic acid (DCBTGA) as a source of dicarboxylic acid and evaluating their anticorrosive properties compared with those of unmodified alkyd coatings for steel protection.
Design/methodology/approach
Short, medium and long oil alkyds, which represented as (0, 10, 20 and 30% excess-OH) according to the resin constants (Patton, 1962), were prepared through a condensation polymerization reaction via a solvent process in a one-step reaction. The modification of alkyd was carried out by using DCBTGA as a source of dicarboxylic acid. The prepared modified alkyd was confirmed by IR and NMR spectral analysis. The physicochemical, mechanical and anticorrosion performance properties of the considered modified coating formulations against unmodified blank coating were studied to confirm their application efficiency.
Findings
The best results in terms of physicochemical, mechanical and anticorrosion performance properties were found according to the following of this order activity: 30 replacements of the modifier (DCBTGA) for each hydroxyl continent were 30% Ex-OH > 20% Ex-OH > 10% Ex-OH > 0% Ex-OH, compared with that formulation containing unmodified alkyd, especially with increasing the modifier percent.
Originality/value
The prepared DCBTGA-modified resins can be used for different applications based on the type of alkyd and application.
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Ahmed M. Galal, Muhammad Zeemam, Muhammad Imran, Muhammad Abdul Basit, Madeeha Tahir, Saima Akram and Jihad Younis
Nanofluids are used in technology, engineering processes and thermal exchanges. In thermal transfer processing, these are used for the smooth transportation of heat and mass…
Abstract
Purpose
Nanofluids are used in technology, engineering processes and thermal exchanges. In thermal transfer processing, these are used for the smooth transportation of heat and mass through various mechanisms. In the current investigation, we have examined multiple effects like activation energy thermal radiation, magnetic field, external heat source and especially slippery effects on a bioconvective Casson nanofluid flow through a stretching cylinder.
Design/methodology/approach
Several studies used non-Newtonian fluid models to study blood flow in the cardiovascular system. In our research, Lewis numbers for bioconvection and the influence of important parameters, such as Brownian diffusion and thermophoresis effects, are also considered. This system is developed as a partial differential equation for the mathematical treatment. Well-defined similarity transformations convert partial differential equation systems into ordinary differential equations. The resultant system is then numerically solved using the bvp4c built-in function of MATLAB.
Findings
After utilizing the numerical approach to the system of ordinary differential equations (ODEs), the results are generated in the form of graphs and tables. These generated results show a suitable accuracy rate compared to the previous results. The consequence of various parameters under the assumed boundary conditions on the temperature, motile microorganisms, concentration and velocity profiles are discussed in detail. The velocity profile decreases as the Magnetic and Reynolds number increases. The temperature profile exhibits increasing behavior for the Brownian motion and thermal radiation count augmentation. The concentration profile decreased on greater inputs of the Schmidt number and magnetic effect. The density of motile microorganisms decreases for the increased value of the bio-convective Lewis number.
Originality/value
The numerical analysis of the flow problem is addressed using graphical results and tabular data; our reported results are refined and novel based on available literature. This method is useful for addressing such fluidic flow efficiently.
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Anett Erdmann and Luis Toro-Dupouy
In higher education, the appreciation and implementation of artificial intelligence (AI) has led to debate and polarization. This study examines how the institutional environment…
Abstract
Purpose
In higher education, the appreciation and implementation of artificial intelligence (AI) has led to debate and polarization. This study examines how the institutional environment at universities impacts the value perception and intention to adopt AI in higher education. It seeks to optimize the adoption pathway by identifying essential “must-have factors” and “value drivers.”
Design/methodology/approach
Employing the technology-organization-environment (TOE) framework alongside the technology acceptance model (TAM) framework and perceived value concepts, this research utilizes a partial least squares structural equation modeling (PLS-SEM) approach complemented by necessary condition analysis (NCA), a novel approach in this context, which allows us to distinguish between critical antecedents and value drivers in the evaluation and adoption of AI technology.
Findings
Results indicate that organizational complexity, readiness, competency, compatibility and competitive advantage significantly affect the perceived value of AI, mediated by stakeholders’ perceptions of its ease of use and usefulness. These factors enhance the intention to adopt AI in higher education. Perceived usefulness has the highest effect size and the importance of ease of use differs between Europe and South America. External factors like partner support and competitive advantage are necessary considerations to be met, while competitive advantage and some internal factors are sufficient conditions for AI adoption.
Originality/value
The study underscores the importance of certain institutional factors, setting priorities for management actions in AI adoption. It differentiates between the general appreciation of AI and the intention of practical implementation, highlighting the role of partner support as a necessary condition, although a non-value-driving factor.
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Anna Reichardt, Matthias Murawski and Markus Bick
As one of the most energy-intensive sectors, the manufacturing industry is strongly affected by current economic, ecological and political issues and is increasingly looking to…
Abstract
Purpose
As one of the most energy-intensive sectors, the manufacturing industry is strongly affected by current economic, ecological and political issues and is increasingly looking to reduce its energy consumption through effective management. One important component of energy management is monitoring, which can be improved by using the Internet of Things (IoT). This study aims to identify the factors behind the adoption of IoT energy monitoring systems in manufacturing industries and IoT’s impact on consumption in this context. Moreover, this study explores what constitutes successful implementation and develops recommendations on how companies can best use the generated energy-saving potential.
Design/methodology/approach
For this purpose, an exploratory, inductive research approach is taken in which five semi-structured interviews with IoT energy-monitoring platform providers located in Germany are conducted and additional documents about these platforms are analysed.
Findings
Based on these interviews and documents, this study defines the relevant factors involved in the increased adoption of IoT energy monitoring systems as desired cost reduction, regulatory requirements and customer expectations. Once implemented, a company’s energy efficiency potential strongly depends on its individual situation; however, the transparency characteristic of IoT supports managers in deriving effective energy-saving measures. Additionally, the used efficiency potential is influenced by the level of data collection and organisational capabilities.
Originality/value
To the best of the authors’ knowledge, as the first study, this research combines findings from the energy management and IoT research streams and places them into an organisational context. The application of the fit-viability model as an overarching framework enhances the theoretical contributions of this study. Moreover, focusing on Germany and its substantial industrial sector enables the gathering of important insights and the analysis of the specific use case of industrial IoT, which yields new findings for practitioners as well.
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S. M. Ashraful Alam, Rozina Akter, Sadia Noor Khan and Shakil Ahmad
Introduction: The bank plays a significant role in financial intermediation and serves as market-makers and agents. The emergence of new financial technology, commonly known as…
Abstract
Introduction: The bank plays a significant role in financial intermediation and serves as market-makers and agents. The emergence of new financial technology, commonly known as “FinTech”, is anticipated to revolutionize these industries. FinTech encompasses technological advancements in the financial sector to enhance consumer satisfaction, streamline operational procedures, create novel products, and foster greater competition.
Purpose: The primary aim is to discuss the banking industry’s current and potential future state with the emergence of financial technology. The specific objective is to explore the emergence of new-age technologies in the banking industry and the challenges faced in their implementation.
Methodology: A qualitative method is employed to analyze the FinTech landscape. Researchers conducted an extensive literature review and analyzed recent news articles to explore the banking industry’s digital transformation through FinTech. The literature review encompassed academic journals, industry reports, and relevant books to provide a theoretical framework and historical context to capture current developments, real-world applications, and emerging trends.
Findings: The evolution and impact of financial technology on the global economic landscape have been explored. It highlights how FinTech innovations, such as blockchain, artificial intelligence, and mobile payments, have revolutionized traditional banking, enhancing efficiency, accessibility, and security. It discusses regulatory challenges and the need for a balanced approach to foster innovation while ensuring consumer protection. The findings underscore FinTech’s potential to drive economic growth and the importance of continuous adaptation to evolving technological trends.
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HengYuan Liu, Sihan Ma, Belal Mahmoud AlWadi, Fahad Alam and YueFeng Zhang
In an era marked by growing environmental concerns, businesses are increasingly recognizing the importance of Corporate Social Responsibility (CSR) in influencing customer…
Abstract
Purpose
In an era marked by growing environmental concerns, businesses are increasingly recognizing the importance of Corporate Social Responsibility (CSR) in influencing customer behavior, particularly in the context of sustainability and green practices. This paper aims to examine the impact of Corporate Social Responsibility (CSR) on Customer Green Behavior (CGB) through the mediating role of corporate image, service quality, customer trust and customer satisfaction.
Design/methodology/approach
A convenient sampling technique was employed to collect the data sample. A total of 741 questionnaires were distributed across four different hotel sectors in China. By using Structural Equation Modeling, the results suggest that CSR significantly influences CGB. Moreover, corporate image, service quality, customer trust and customer satisfaction show a partial mediating effect in the relationship between CSR and CGB.
Findings
The study findings suggest that the hotel industry should invest in CSR initiatives to enhance CGB by conducting pro-environmental activities. This study emphasizes how important CSR initiatives are in encouraging customers to adopt eco-friendly behavior. Overall, the results of this study extend the understanding of CSR, CGB, corporate image, service quality, customer trust and customer satisfaction in the context of the hotel industry and offer theoretical and managerial implications for developing and developed economies.
Originality/value
The originality value of this research lies in its comprehensive examination of the mediating effects of corporate image, service quality, customer trust and customer satisfaction on the relationship between CSR and CGB in the hotel industry. Furthermore, the study’s focus on the specific context of China adds novel insights to the existing literature on CSR and CGB. Discussions, limitations and research suggestions for future study are also provided.
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Keywords
Waqas Mehmood, Rasidah Mohd-Rashid, Abd Halim Ahmad and Atia Hussain
This study investigates the variables that impact initial public offerings (IPO) initial returns witnessed in Pakistan from 1996 to 2019 using pre-listing information variables…
Abstract
Purpose
This study investigates the variables that impact initial public offerings (IPO) initial returns witnessed in Pakistan from 1996 to 2019 using pre-listing information variables, namely country-level institutional quality, sponsor ownership and pricing mechanism. IPO oversubscription is included as a moderating variable.
Design/methodology/approach
This research is motivated by the premise that the Pakistani IPO market is characterised by a broad range of institutional and regulatory frameworks. Multiple regression studies, i.e. ordinary least square (OLS) and quantile least square (QLS), were performed on 102 IPOs issued on the Pakistan stock market.
Findings
The present study findings suggest that the quality of public service, the independence of civil service from political influences and the legitimacy of government increase investors’ confidence in the prospects of companies, hence increasing the demand for IPO and initial returns. In addition, good regulatory quality enhances market transparency and lowers uncertainty, hence signalling high-quality IPOs and leading in substantial initial returns. The negative effect of the lock-up ratio on the initial return of an IPO is consistent with the risk-return trade-off theory, which asserts that the lock-up ratio indicates the quality of the IPO.
Practical implications
The results provide market regulators, policymakers, investors and underwriters with useful data for assuring proper subscriptions of issued shares, as these variables are crucial for company transparency and market efficiency. The findings will also help investors make better IPO subscription decisions.
Originality/value
The present study explains the important influencing factors of IPO initial return in the Pakistani market.
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M. Ikram Ul Haq, Abdul Khaliq Alvi, Muhammad Akram Somroo, Nadeem Akhtar and Ashfaque Ahmed
Current research addresses the issue of brand loyalty while identifying its potential predictors. The research also examines the direct impact of brand credibility on brand…
Abstract
Purpose
Current research addresses the issue of brand loyalty while identifying its potential predictors. The research also examines the direct impact of brand credibility on brand loyalty and attitude toward brand and the direct impact of attitude toward brand and on brand loyalty respectively. Moreover, this research examines the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.
Design/methodology/approach
This is a cross-sectional research. Data is collected with the help of structured questionnaire. Simple random sampling technique is used for gathering the data from 220 Samsung users from Lahore, Pakistan.
Findings
Results indicate that brand credibility has a positive influence on attitude toward brand and brand loyalty respectively. Attitude toward brand partially intervenes the relation of brand credibility and brand loyalty.
Research limitations/implications
There are some limitations of the current research. It includes only the customers of Samsung mobile. Data is collected from the customers of Lahore, Pakistan, only. This research can also be conducted among the customers of OPPO, Vivo and Apple and compare the results of current research with the results of OPPO, Vivo and Apple, which will provide the useful insights. This kind of research will also be conducted among the customers of other kinds of products like FMCGs, luxury items and even on the organizations of industrial products for generalizability. In future, customers of other cities of Pakistan like Karachi, Multan and Faisalabad may also be included for generalization.
Practical implications
This research provides a practical framework for the marketing department of Samsung mobiles and explains how brand credibility shape the brand loyalty through the path of attitude toward Samsung mobiles. So, Samsung mobiles can maintain current policies regarding brand credibility and attitude toward brand for attaining the better level of brand loyalty. Longitudinal research studies on these variables will also be helpful for the marketing department of Samsung for checking the level of propose relationships periodically and comparing it with previous results which will provide the true picture about propose relationships. If the value of propose relationships increases or remains at same level, then Samsung can maintain the current policies about these variables and if the value of these variables decreases, the Samsung will improve the current policies about these variables.
Originality/value
This research contributed in theory of reasoned action by proposing the brand credibility, attitude toward brand and brand loyalty in single model. Before this, these relations were explained separately. This research adds to the body of literature by checking the mediating effect of attitude toward brand for the relationship of brand credibility and brand loyalty.
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Richard Kofi Opoku, Gloria Kakrabah-Quarshie Agyapong and Abdulai Alhassan
This research investigates the role of customer involvement (CINV) in customer relationship management (CRM) dimensions and customer retention (CR) in Ghana’s hotel industry.
Abstract
Purpose
This research investigates the role of customer involvement (CINV) in customer relationship management (CRM) dimensions and customer retention (CR) in Ghana’s hotel industry.
Design/methodology/approach
This quantitative-based explanatory research obtained primary data via structured questionnaires from 277 hotel customers in Ghana, processed it with SmartPLS4.0 software, and analysed it with structural equation modelling.
Findings
CRM dimensions (CRM-based technology, managing knowledge and personalisation of services) and CINV positively affect CR. Also, CINV partially mediates the interactions between the CRM dimensions and CR in Ghana’s hotel industry.
Research limitations/implications
The study is geographically limited to hotels in Ghana and conceptually limited to three CRM dimensions, CINV and CR. Methodologically, the study was limited to the quantitative approach. However, our outcomes imply that hotels in Ghana that invest in relevant CRM dimensions would improve CR. CRM-CR association can also be improved through CINV.
Practical implications
The study outcomes imply that when Ghanaian hotels implement the CRM dimensions and foster active CINV, their customers’ retention will improve significantly. Hence, CRM and CINV are prerequisites for enhancing CR in Ghana’s hotel industry.
Originality/value
The study offers valuable contributions to the current literature on CRM, consumer behaviour and hospitality management, especially in a developing economy context. Its novel contribution, the mediating role of CINV, would advance CRM studies in the hospitality sector.