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This study aims to understand and document the impact of market-based – market returns and momentum – as well as firm-specific – size, book-to-market (B/M) ratio, price-to-earnings ratio (PER) and cash flow (CF) – factors on pricing of Shari’ah-compliant securities as explanation of variations in stock returns in an emerging market – Pakistan’s Karachi Stock Exchange.

Initially, the authors test Fama and French (FF) three-factor model – market risk premium, size and B/M – followed by modified FF model by including additional risk factors (PER, CF and momentum) over a 10-year period (2001-2010).

Our results support superiority of FF three-factor model over single-factor capital asset pricing model. However, addition of further risk factors – including PER, CF and momentum – improves explanatory power of the model, as well as refines the selection of risk factors. In this study, CF, B/M and momentum factors remain insignificant. Traditional B/M factor in FF model is replaced by PER.

Based on the modified FF model, the authors propose a stock valuation model for Shari’ah-compliant securities consisting of three factors: market returns, size and earnings, which explains 76per cent variations in cross sectional stock returns.

To the best of the authors’ knowledge, this is the first study (which combines market-based as well as fundamental factors) on pricing of Islamic securities and identification of risk factors in an emerging market – Karachi Stock Exchange.

Purpose: In this study, monolith analysis methods, microservice identification, and decomposition methods proposed for the transition to microservice architectures that enable the development of appropriate solutions by adapting to the complex demands that will shape the technological infrastructure of the future are evaluated.

Need for the study: Decomposition from monolithic architectures to microservices has become a popular approach in organizations and companies with Industry 5.0. This transformation of Industry 5.0 enables businesses to gain a competitive advantage and can provide a quick solution to personalized problems such as personal service systems.

Methodology: The study, decomposition from monolith to microservice, initially includes monolith analysis, followed by microservice decomposition review. Various classification methods have been proposed for microservice identification and decomposition and are aligned with Industry 5.0 principles, focusing on artificial intelligence (AI)-based approaches, especially human-centered AI.

Findings: Four analysis methods (domain, static, dynamic, and version) are identified for monolith analysis, with static and dynamic being the most common. Version analysis is not typically used alone. In the decomposition phase, clustering-based methods are prevalent due to the uncertain dimensions of microservices. Rule-based and unsupervised methods are identified for decomposition, with AI algorithms like affinity propagation, Kmeans clustering, hierarchical clustering, Hungarian algorithm, genetic algorithm, latent Dirichlet allocation (LDA), and minimum spanning tree (MST) being employed.

Practical implications: Microservice architecture enables flexibility, scalability, and resilience compared to monolithic structures. Decomposing large-scale monolith projects into microservices is challenging, requiring selection of appropriate monolith analysis methods based on project details (e.g., domain analysis for detailed Unified Modelling Language (UML) diagrams) before proceeding with decomposition. This transformation improves deployment, maintenance, fault isolation, and scalability, while allowing for diverse service-specific databases and programming languages.

This study aims to investigate how the service quality provided by distribution companies (DISCOs) impacts consumer satisfaction, focusing on the mediating role of regulatory effectiveness as governed by the National Electric Power Regulatory Authority (NEPRA) in Pakistan’s power sector.

A quantitative research design was used, with data collected via online surveys from domestic electricity consumers of five DISCOs in Punjab, Pakistan. Data analysis was performed using SPSS-25 and SmartPLS-4 software.

The results indicate that service quality significantly affects both consumer satisfaction and regulatory effectiveness, with regulatory effectiveness positively mediating the relationship between service quality and consumer satisfaction.

The limitations of this study include a cross-sectional design and multistage sampling, which may introduce bias and inadequately represent diverse demographics. Future research should involve commercial users, use longitudinal designs and adopt mixed methods for deeper insights. Nevertheless, the findings emphasize the mediating role of regulatory effectiveness in linking service quality to consumer satisfaction, highlighting the importance of governance in the electricity sector.

The findings offer valuable insights for policymakers, DISCO managers and regulatory bodies, underscoring the need to enhance service quality and regulatory practices to improve consumer satisfaction. Collaboration between DISCOs and NEPRA is recommended to address inefficiencies and governance issues, focusing on infrastructure development, transparency and accountability to enhance the consumer experience in Pakistan’s electricity sector.

This study contributes to the literature by introducing regulatory effectiveness as a mediator between service quality and consumer satisfaction within the power sector, guided by institutional theory.

This paper aims to investigate the relation between corporate governance and earnings management around UK rights issues.

The paper examines the effect of board structure, ownership structure, adviser structure, and capital structure on discretionary current accruals – a proxy for earnings management – for a sample of size‐controlled rights issuers. Rights issues are chosen as a context in which firms have particular incentives to manage earnings.

The results suggest that firms with higher debt to equity ratios, with lower proportions of non‐executive directors, or with no large block owner, are more likely to use discretionary current accruals to manipulate earnings around rights issues.

Similar research can be conducted around other equity issuing methods such as open offers and around other major corporate events such as initial public offerings.

The paper's evidence contributes to an understanding of corporate governance and has practical implications for stakeholders. It suggests that investors can rely more on the financial disclosures of firms with lower debt to equity ratios, higher proportions of outside directors, and with a large blockholder. Regulators may propose that firms undertaking corporate events such as equity offerings should follow best corporate governance practices to enhance investor confidence.

This study is the first to investigate the corporate governance mechanisms in place to check opportunistic earnings management around specific corporate events for the UK market.

The purpose of this paper is to investigate the choice criteria for Islamic home financing in Malaysian Islamic banks. Most importantly, this study considers establishing a specific rank of choice criteria for Islamic home financing. Moreover, these choice criteria will also be ranked according to the selected demographic elements such as gender, marital status and age range.

This study uses a quantitative study similar to what was employed by previous researchers. The study presents primary data collected by self‐administered questionnaires involving a sample of 150 Malaysian bank customers in Labuan, Malaysia. Of these, 141 questionnaires were returned with a response rate equivalent to 94 per cent. The Islamic home financing choice criteria as perceived by the Malaysian bank customers are analysed using frequencies, independent samples t‐test and ANOVA.

The results suggest that “Shariah principle”, “lower monthly payment”, “transparency practice”, “interest‐free practice” and “100 per cent financing” are the first five decision criteria considered as being very important. The least preferred criteria, among others, are “recommendation”, “longer financing period”, “product range” and “branch location”. Results also suggested that a small number of significant differences are apparent in the importance of choice criteria with respect to gender, marital status and age range.

The study contains three limitations. The first limitation was based on the sample area for the study which is confined to Labuan, Malaysia. Second, this study restricted the use of factor analysis since the data did not allow for aggregation. Third, this study was also unable to perform ANOVA for religion differences as the sample consisted largely of Muslims.

The results are primarily beneficial to academics and practitioners in Malaysia by offering an insight into choice criteria for Islamic home financing. This study provides new results about different kinds of customer types and their preferences with regards to Islamic home financing selection. As such, Islamic bank managers can learn and plan to offer attractive schemes for the Islamic home financing market that meet Malaysian bank customers' needs. For the researcher, this study contributes to existing body of knowledge by providing an investigation of choice criteria in the Islamic home financing. Indeed, this study is considered an “eye‐opener” for Islamic home financing choice criteria which has limited previous studies. Originality/value –This study introduces the choice criteria for Islamic financing among Malaysian bank customers. The study offers an insight into Islamic home financing choice criteria in Malaysia which has limited previously been investigated.

The purpose of this study is to examine the influences of informal organisational and family support on work-family conflict (WFC) and its subsequent impact on turnover intentions among female employees.

To evaluate the WFC among female individuals, data were collected through a questionnaire distributed among female employees in the service sector in Lahore, Pakistan, by using convenience-sampling technique. The collected data were analysed through a well-known statistical technique, SEM, using AMOS software.

The findings suggest that supports (informal organizational and family) have no impact to resolving the issues of WFC arising because of female members of the family working. Also, it was found that WFC is positively linked to employee turnover intentions.

By addressing WFC issues, this research has key implication for WFC practically. This study has essential implications for organization, so it can reduce the WFC by creating a supportive environment to create balance amongst work and family life. Specifically, managers need to be aware of the impact that social support and WFC have on turnover intention.

This study provides the model of WFC that helps in future research. The research also improves past studies’ methodology by testing the direct and mediation impacts between the constructs specifically in female employees. This study is a valuable addition to the existing body of literature.

The purpose of this research is to look into the governance–performance relationship in the context of critical firm characteristics, such as firm size.

Based on total assets, sample firms were classified as small or large. The governance index, which is based on 29 governance provisions covering the audit committee, board committee, ownership and compensation structure of the respective firm, measures governance quality among sample firms. A higher governance index indicates a higher level of governance quality and vice versa. Accounting and market value measures are used to determine firm profitability. The authors used the two-stage least square (2SLS) method of estimation of the model to eliminate the simultaneous equation bias.

Corporate governance (CG) appears to have a positive impact on accounting return and market indices (Tobin’s Q), but it has little impact on return on equity. In terms of firm size, larger companies profited more from better governance implementation than smaller firms that lacked these principles, thus improving CG. The findings indicate that small businesses should improve their governance mechanisms to reap the benefits of CG in terms of increased profitability.

There are certain drawbacks to this research. First, the authors omitted qualitative aspects of CG from the CG index, such as the board’s decision-making process, directors’ perceptions of the board’s position and directors’ age and qualifications. Such a qualitative component will improve the governance index in the future while building the governance index. Second, as the current study only looks at the nonfinancial sector, caution should be exercised before applying the findings to the entire population.

The findings show that companies that follow good governance standards have better accounting and market efficiency than those that do not. As a result, good governance practices can help firms in developing countries improve their performance. Academic researchers, regulators, investors, lenders and practitioners can find the findings useful in establishing a true relationship between firm performance and CG practices in Pakistan.

The relationship between governance and profitability in the context of firm size is examined in this research. Firms with varying resources and ability to implement CG codes have varying effects on profitability. To the authors’ knowledge, there was a gap in the literature that addressed this topic in the local context.

This study aims to examine the interactive effect of the push factor from the conventional bank, the pull factor from the Islamic bank and the internal mooring factor of the customers in influencing the switching behavior of two types of customer account holders, the conventional only and the mixed (conventional and Islamic bank) account holders, from the services marketing mix perspective.

This study applied an explanatory research design. The data were collected via an online survey from 1,171 Muslim participants; participants consisted of conventional only account holders, Islamic bank only account holders and mixed (conventional and Islamic bank) account holders. The data were mainly analyzed using structural equation modeling.

Based on the account, the results showed that the three types of customers differ significantly in terms of the effect of the push, pull and mooring factors. The study also showed that the mooring factor, which is internal to the customer, is the most significant factor that inhibits customers from migrating to Islamic banks. The effect was observed for both conventional customers and those who hold mixed accounts.

The study was conducted via an online survey, which reduces the representativeness of the sample. In addition, most respondents were urban dwellers and well educated, which might not represent the banking behaviour of Indonesian Muslim customers in general.

The study implies that to attract the conventional only account holder, Islamic banks should first weaken the mooring factors (the internal characteristics of the customers) that inhibit customers from switching to an Islamic bank.

The main contribution of the study is that it simultaneously identifies the push, pull and mooring factors that have the most significant impacts on Muslim customers' switching behavior from a conventional to an Islamic bank.

The purpose of this paper is to examine the impact of family ownership on firm performance. In particular the authors investigate whether family firms outperform non-family firms and whether first generation family firms perform better than second generation family firms in an emerging economy using Bangladesh as a case.

This study uses a data set of 141 listed Bangladeshi non-financial companies for the period 2005-2009. The methodology is based on multivariate regression analysis.

The result shows that family firms perform better than their non-family counterparts. The authors also find that family ownership has a positive impact on firm performance. The analysis further reveals intergenerational differences where family firms and performance are associated positively only when founder members act as CEOs or chairmen. However, when descendents serve as CEOs or chairmen family firms are associated with poorer firm performance.

The authors extend the findings of previous studies that investigate the family ownership and firm performance relationship in developed economy settings, but neglected emerging economies. The study also informs the literature about the intergenerational impact of family firms on performance in an emerging market.

Despite burgeoning interest in knowledge hiding (KH), there are still significant gaps in the understanding of the boundary conditions under which KH is more or less likely to occur. To address this research gap, the researchers examined abusive supervision as an interpersonal antecedent of KH. In addition, this paper aims to investigate the moderating roles of negative reciprocity beliefs (NRB) and moral disengagement (MD) in the relationship between abusive supervision and KH.

Two-wave data using a non-experimental face-to-face method was collected from 257 service employees in Pakistan, which supported the hypothesized model. Considering minimum sample size requirements (i.e. n = 208) in partial least squares structural equation modeling, the researchers analyzed a two-stage approach to test the measurement model and the structural model.

The study found that abusive supervision was positively related to evasive hiding and playing dumb but not associated with rationalized hiding. Further, the results confirm the moderating roles of NRB and MD. The positive relationships between abusive supervision and evasive hiding and playing dumb are intensified at high levels of NRB and MD.

Given the complicated nature of KH, this is one of the few efforts that outstretch the boundary conditions of KH.