Ibrahim Alley, Halima Hassan, Ahmad Wali and Fauziyah Suleiman
This paper provides evidence that the banking sector reforms of 2004 and 2009 enhanced prudential performance of the banking industry and financial system stability in Nigeria.
Abstract
Purpose
This paper provides evidence that the banking sector reforms of 2004 and 2009 enhanced prudential performance of the banking industry and financial system stability in Nigeria.
Design/methodology/approach
This study uses regression analysis with regime shift to confirm results from tests of two means and variances model to examine the effectiveness of banking sector reforms in Nigeria.
Findings
Evidence from the regression model agrees with findings from the test of means model (not controlling for trend effects) that capital to assets ratio rose while non-performing loan ratio declined after the reforms, and that capital to earning assets ratio rose when trend effects were accounted for. Both the regression model and the tests of means model controlling for trend effects show that return on asset, return on equity and return on earning assets ratios declined after the reforms.
Research limitations/implications
This paper evaluated the effectiveness of banking sector reforms in Nigeria using models that avoid weaknesses that besieged many previous studies. It however used data covering 1983–2020 period, due to data availability. A larger scope of data may improve the results, and future research may re-examine this theme as more data become available. Furthermore, banking stability issues could be examined using specialised techniques such as the generalised autoregressive conditional heteroscedasticity model and related family.
Practical implications
These results suggest that the reforms led to improvement in the sector’s resilience (risks-absorbing capacity) and asset quality, and that profitability had not been the primary focus of the reforms.
Social implications
The authors recommend that regulatory and supervisory authorities in Nigeria continue to implement and improve on banking sector reforms for a more resilient and functional banking system. As a contribution to social research, this study shows that studies on policy evaluation should be located within appropriate theoretical framework: the theory of change. It shows that an appropriate use of attribution analysis and contribution analysis within this theoretical framework engenders robust analysis and results. Otherwise, the analytical findings would be erroneous and policy advice misguided.
Originality/value
The statistical significance of our findings establishes that the banking sector reforms in Nigeria have been effective in promoting financial system stability in Nigeria. By deploying both the test of means with and without trend effects (an attribution analysis) and the multivariate regression analysis with regulatory shift (a contribution analysis), and relying more on the later for its superiority, this study contributes to the body of knowledge in that, it not only determined the true effects of banking sector reforms in Nigeria for appropriate policy guidance but also demonstrated that, in research, an inappropriate methodology produces results that may diverge from the more accurate ones that were derived from the correct methodology.
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The elimination of top- and mid-level cadres in US-led coalition airstrikes comes at a time when the group is also suffering serious battlefield losses. The strikes raise…
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DOI: 10.1108/OXAN-DB207721
ISSN: 2633-304X
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Geographic
Topical
A. A. Obalade, T. Moodley, N. Ncama, N. Mkhize, M. Pillay and T. Singh
The establishment of a currency union is a topical issue in the West African Monetary Zone (WAMZ). The subject of currency union formation needs to be reassessed in light of the…
Abstract
The establishment of a currency union is a topical issue in the West African Monetary Zone (WAMZ). The subject of currency union formation needs to be reassessed in light of the recent efforts towards the economic integration of west African countries. This study employs the Markov Switching Model (MSM) to determine whether a currency union in WAMZ is feasible. The study analyzes the regime switching behavior in WAMZ countries’ foreign exchange markets before and after the formation of the union. The contribution of this study is two-fold. First, the study accounts for the success or otherwise of the latest efforts to integrate the fiscal and monetary strategies in the zone. Secondly, the study contributes to the literature on the currency union literature in WAMZ by using Markov Switching Model (MSM) to generate novel results. The results of the study revealed that prior to the WAMZ formation, the real exchange rates of member states were more divergent. In contrast, a growing but marginal, convergence was observed after the formation of the zone amongst four (Nigeria, Sierra Leone, Gambia, and Liberia) of the six countries. The authors conclude that while WAMZ is on course for establishing a currency union, their monetary authorities must work together, particularly with Ghana and Liberia, to synchronize their policy efforts, and policy makers must implement policies to strengthen harmonious trade interactions.
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Saima Ahmad, Nasib Dar and Wali Rahman
This paper aims to investigate the influence of religiosity on the relationship between abusive supervision and deviant work behavior (DWB). This paper examines whether the desire…
Abstract
Purpose
This paper aims to investigate the influence of religiosity on the relationship between abusive supervision and deviant work behavior (DWB). This paper examines whether the desire for revenge mediates the relationship between abusive supervision and DWB and whether the strength of this relationship is moderated by religiosity.
Design/methodology/approach
The proposed relationships were examined by collecting primary data from 350 employees using multistage sampling procedures. Hayes’ Process Macro was used to analyze the proposed moderated-mediation model of abusive supervision, DWB, religiosity and desire for revenge.
Findings
The analytical findings indicate that an employee’s desire for revenge mediates the relationship between abusive supervision and DWB. However, religiosity moderates the indirect effect of abusive supervision (mediated by the desire for revenge) on DWB.
Originality/value
To the best of the authors’ knowledge, this is the first study that explores the role of individual-level religiosity in mitigating the harmful effects of abusive supervision on deviant behavior and revenge in the workplace.
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Nasib Dar, Saima Ahmad and Wali Rahman
This paper aims to examine the influence of perceived overqualification on innovative behaviour in the workplace. By integrating self-efficacy and human capital theories, this…
Abstract
Purpose
This paper aims to examine the influence of perceived overqualification on innovative behaviour in the workplace. By integrating self-efficacy and human capital theories, this study proposes that perceived overqualification improves innovative behaviour directly and indirectly by boosting employee creative self-confidence. It further investigates the boundary conditions imposed by perceived psychological safety in this process.
Design/methodology/approach
The research utilises a quantitative research methodology through a two-wave survey of 335 employees and their 135 leaders. Moderated and mediated regression analyses were used to analyse the research data.
Findings
The results revealed that perceived overqualification promotes innovative behaviour at work directly and indirectly through its positive influence on creative self-confidence. The mediating effect of creative self-confidence in the relationship between perceived overqualification and innovative behaviour is moderated by perceived psychological safety at work, such that the relationship is stronger in a higher perceived psychological safety condition compared to when it is low.
Research limitations/implications
This study has theoretical and practical implications for personnel management. From a theoretical perspective, it integrates human capital and self-efficacy theories to explain a mechanism through which perceived overqualification will lead to innovative behaviour in the workplace. From a managerial perspective, it mitigates the stigma associated with an overqualified workforce by suggesting that perceived overqualification can be a source of innovation at work.
Originality/value
This is the first study that examines the creative self-confidence-based mechanism in the relationship between perceived overqualification and innovative behaviour at work. It also explores the moderating role of psychological safety in this relationship.
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Mansoor Ahmad, Muhammad Mustafa Raziq, Wali ur Rehman and Matthew M.C. Allen
Research on the relationship between high-performance workplace practices (HPWPs) and organizational performance has largely focussed on western settings, limiting the knowledge…
Abstract
Purpose
Research on the relationship between high-performance workplace practices (HPWPs) and organizational performance has largely focussed on western settings, limiting the knowledge of how these systems influence performance in other countries, including Pakistan. Universalistic assumptions underpin the HPWP paradigm; to examine the validity of these assumptions, the purpose of this paper is to study the links between HPWP and performance in Pakistan, a country with different cultural norms and institutional settings to those in which most research has been conducted.
Design/methodology/approach
The authors draw on a unique survey of 392 establishment managers in the banking, pharmaceutical and information technology sectors. The authors include managers of foreign-owned multinational subsidiaries and domestic firms to ensure the sample represents firms in Pakistan.
Findings
The authors find that some individual HPWPs (recruitment and training) are associated in a statistically significant way with lower labour turnover, higher productivity and higher financial performance. Employee involvement is associated with lower labour turnover and higher labour productivity. Compensation is associated with higher financial performance. None is linked to higher labour turnover, lower productivity or lower financial performance in a statistically significant way. Performance appraisal was not statistically significantly associated with any of the three outcome variables.
Originality/value
The results provide some relatively strong support for universalistic assumptions, but also highlight the need for future research to examine the variable links of some HPWPs and the lack of any association for the performance appraisal measure.
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Mansoor Ahmad, Matthew M.C. Allen, Muhammad Mustafa Raziq and Wali ur Rehman
Existing work on convergence/divergence among HRM practices in MNCs and local firms mainly focuses on Europe and the USA. Limited research examines these organizations in…
Abstract
Purpose
Existing work on convergence/divergence among HRM practices in MNCs and local firms mainly focuses on Europe and the USA. Limited research examines these organizations in Pakistan, hindering our understanding of what policies MNCs are likely to adopt there as well as the extent of any differences between HRM in MNC subsidiaries and local firms. The purpose of this paper is to examine the similarities and differences between the HRM practices of MNC subsidiaries and domestic firms to assess if there is evidence for convergence or divergence.
Design/methodology/approach
The authors targeted MNC subsidiaries and domestically owned firms working in the banking, information technology and pharmaceutical sectors in Pakistan. These sectors have enjoyed a steady inflow of foreign direct investment and have a sizeable number of MNC subsidiaries. Out of 1,081 companies, some 392 participated in a face-to-face survey (response rate of 36.4 percent). The authors ran a series of binary logistic regression models to test the hypothesized relationships between HR practices and nationality of ownership.
Findings
The authors reveal that a small minority of both types of firm use some practices, such as high compensation contingent on performance and performance review, appraisal and career development. However, domestic firms use some practices, such as extensive training, performance appraisals and performance-related pay significantly less than their multinational counterparts. The authors argue that these differences reflect institutional influences in Pakistan as well as a potential opportunity for local firms to change their HRM practices. In other areas, such as recruitment and employee involvement, there are no differences between the two groups.
Originality/value
The authors deepen our understanding of the types of HR practices that local companies in an emerging economy are likely to adopt as well as those that they are unlikely to adopt. Existing research has tended to downplay HRM in Pakistan and the different use of individual HRM practices among MNC subsidiaries and local firms. This research reveals that some companies in Pakistan have sophisticated HRM practices in place in some areas; however, MNC subsidiaries make greater use of some HR practices, reflecting different cultural norms between the two groups.
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Saeed Akbar, Shehzad Khan, Zahoor Ul Haq and Muhammad Ibrahim Khan
This study aims to compare capital structure determinants' effect on the leverage levels of Shariah-compliant (SC) and noncompliant (NC) firms in Pakistan. This study also…
Abstract
Purpose
This study aims to compare capital structure determinants' effect on the leverage levels of Shariah-compliant (SC) and noncompliant (NC) firms in Pakistan. This study also estimates and compares the capital structure adjustment speed for both firm types.
Design/methodology/approach
Based on the Karachi Meezan Index screening criterion, a balanced panel of 117 SC and 68 NC firms listed on the Pakistan Stock Exchange from 2008 to 2018 was constituted. This study used the generalized method of moments to identify the significant determinants of capital structure and estimate the speed of adjustment. In addition, the F-test was used to check whether the effect of the determinants on the leverage is same for SC and non-SC firms.
Findings
The authors found that different determinants affect both firm types' leverage levels (book and market) differently. The authors also found that the adjustment speed of SC firms toward their target leverage ratio is slower than their NC peers. Lastly, significant variation was observed in the results under different screening criteria.
Research limitations/implications
This study fills the literature gap by providing a comprehensive comparison of the capital structure decisions of the SC and non-SC firms. Because this study is limited to Pakistan, generalizability would be an issue.
Practical implications
This study will guide the management of SC and non-SC firms about which factors are reliably important in choosing their capital structure. The findings also call for bringing harmony in the different Shariah screening criteria being in practice.
Originality/value
To the best of the authors’ knowledge, this is the first comparative study that identifies the significant capital structure determinants for SC and NC firms and investigates their effect on the leverage of both firm types. By testing joint hypotheses of same relationship, this study seeks to determine if, because of Shariah restrictions, the capital structure determinants of SC firms are similar to NC firms or they exhibit different behavior. The authors also repeat their analysis using other prominent screening criteria to assess the consistency of their results.
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Ayman Ahmed Ezzat Othman, Mariz Nasser Walis Aziz and Fatma O. Alamoudy
This research aims to develop and validate a framework to support the development of sustainable architectural entrepreneurship start-ups (AES) in Egypt by overcoming the…
Abstract
Purpose
This research aims to develop and validate a framework to support the development of sustainable architectural entrepreneurship start-ups (AES) in Egypt by overcoming the challenges that obstruct their development.
Design/methodology/approach
A qualitative and quantitative research methodology was designed to accomplish four objectives. The literature review investigated the concept of entrepreneurship, the challenges of AES in Egypt and Egypt’s Vision 2030. Four case studies were analysed to validate the identified challenges and strategies adopted to overcome these obstacles. A survey questionnaire was conducted with AES founders in Egypt to assess their perception of entrepreneurship, challenges and strategies adopted to overcome these barriers. Finally, a framework was developed and validated to facilitate the development of sustainable AES in Egypt.
Findings
Through a literature review, the research identified the highest 17 challenges that obstruct the development of sustainable AES in Egypt and classified them into six categories. Analysis of case studies confirmed various challenges and strategies adopted to overcome these obstacles. Data analysis showed that “financial”, “awareness, educational and training” represent the most influential challenges to AES in Egypt. Moreover, “self-funding through savings” was ranked the highest strategy employed to overcome the financial challenges, while the “continuous learning and skill development” strategy was adopted to address the challenge of awareness, education and training.
Practical implications
This research presents a practical solution to facilitate the development of sustainable AES in Egypt by overcoming the challenges that obstruct their growth. The framework was explained in a workable way to include the required activities, tools and techniques, involved personnel needed resources and implementation strategies.
Originality/value
This research identified and analysed the challenges of developing sustainable AES and the strategies adopted to overcome these obstacles. It studied a topic that received scant attention in construction literature related to start-ups in architecture, especially in Egypt. Moreover, this research developed and validated a framework consisting of six domains based on the findings of a literature review, case studies and survey questionnaire to facilitate the development of sustainable AES in Egypt, which represents a novel and creative synthesis that adds value to knowledge in a way that has not previously occurred.
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Bushra Batool, Saleem Abdullah, Shahzaib Ashraf and Mumtaz Ahmad
This is mainly because the restrictive condition of intuitionistic hesitant fuzzy number (IHFN) is relaxed by the membership functions of Pythagorean probabilistic hesitant fuzzy…
Abstract
Purpose
This is mainly because the restrictive condition of intuitionistic hesitant fuzzy number (IHFN) is relaxed by the membership functions of Pythagorean probabilistic hesitant fuzzy number (PyPHFN), so the range of domain value of PyPHFN is greatly expanded. The paper aims to develop a novel decision-making technique based on aggregation operators under PyPHFNs. For this, the authors propose Algebraic operational laws using algebraic norm for PyPHFNs. Furthermore, a list of aggregation operators, namely Pythagorean probabilistic hesitant fuzzy weighted average (PyPHFWA) operator, Pythagorean probabilistic hesitant fuzzy weighted geometric (PyPHFWG) operator, Pythagorean probabilistic hesitant fuzzy ordered weighted average (PyPHFOWA) operator, Pythagorean probabilistic hesitant fuzzy ordered weighted geometric (PyPHFOWG) operator, Pythagorean probabilistic hesitant fuzzy hybrid weighted average (PyPHFHWA) operator and Pythagorean probabilistic hesitant fuzzy hybrid weighted geometric (PyPHFHWG) operator, are proposed based on the defined algebraic operational laws. Also, interesting properties of these aggregation operators are discussed in detail.
Design/methodology/approach
PyPHFN is not only a generalization of the traditional IHFN, but also a more effective tool to deal with uncertain multi-attribute decision-making problems.
Findings
In addition, the authors design the algorithm to handle the uncertainty in emergency decision-making issues. At last, a numerical case study of coronavirus disease 2019 (COVID-19) as an emergency decision-making is introduced to show the implementation and validity of the established technique. Besides, the comparison of the existing and the proposed technique is established to show the effectiveness and validity of the established technique.
Originality/value
Paper is original and not submitted elsewhere.