Ahmed S. Alanazi, Benjamin Liu and John Forster
The main objective of this paper is to measure Saudi Arabian initial public offerings' (IPOs) financial performance before and after going public on the Saudi Stock Exchange…
Abstract
Purpose
The main objective of this paper is to measure Saudi Arabian initial public offerings' (IPOs) financial performance before and after going public on the Saudi Stock Exchange Market. The paper also aims to explore factors associated with the financial performance variation between pre‐ and post‐IPO.
Design/methodology/approach
A sample of 16 Saudi IPOs is investigated. A matched pairs methodology is mainly used combined with regression analysis.
Findings
Saudi IPOs exhibit a significant decline in the post‐IPO performance compared to the pre‐IPO level as measured by the return on assets and return on sales. It was also found that the performance deterioration is associated with the IPO event.
Originality/value
The paper is the first assessment of IPOs clustering occurred in Saudi Arabia.
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Fouad Jamaani and Manal Alidarous
This study aims to examine the short- and long-lived effects of the International Financial Reporting Standards (IFRS) mandate on the quality of reporting information of initial…
Abstract
Purpose
This study aims to examine the short- and long-lived effects of the International Financial Reporting Standards (IFRS) mandate on the quality of reporting information of initial public offering (IPO) firms in emerging market economies.
Design/methodology/approach
The study used several difference-in-differences models for a sample comprising 102 Saudi Arabian IPO firms for 2003–2017.
Findings
It found that mandating the application of the IFRS had a significant short-lived but no long-lived effect on IPO firms’ information asymmetry. When information asymmetry was high such as in the primary market, the IFRS succeeded in alleviating the underpricing of IPO firms. Conversely, in the secondary market, with negligible information asymmetry, the IFRS was not beneficial for the long-term performance of companies in the IPO market.
Originality/value
This study is the first of its kind in the emerging market context and has important implications for IPO investors and analysts, IFRS-IPO researchers and policymakers in emerging economies. The results empirically confirmed that the IFRS mandate had solely a short-lived effect and no long-lasting impact, on the problem of asymmetric information in the IPO market. The effectiveness of the IFRS in producing quality financial reporting is contingent upon large-scale information asymmetry and vanishes when investors and analysts have abundant information about listed firms, even for emerging economies such as Saudi Arabia.
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Fouad Jamaani, Manal Alidarous and Esraa Alharasis
This study aims to examine the impact of the International Financial Reporting Standards (IFRS) mandate and differences in national institutional quality on the underpricing of…
Abstract
Purpose
This study aims to examine the impact of the International Financial Reporting Standards (IFRS) mandate and differences in national institutional quality on the underpricing of Initial Public Offering (IPO) companies.
Design/methodology/approach
Multiple Difference-in-Differences (DiD) ordinary least squares estimations were conducted for 100 corporations listed on the Saudi Arabian stock market using country-level institutional quality data from 2005 to 2017.
Findings
IFRS requirements and improvements in institutional quality have a combined effect on minimizing IPO underpricing. The analysis of the combined impact of IFRS requirements and differences in transparency revealed that IPO vendors leave $5 on average for IPO investors to cash out post the IFRS mandate, compared to $29 previously. Thus, IFRS serves as a quality certification instrument that alleviates IPO investors’ ex ante uncertainties, even in nations with undeveloped institutions.
Practical implications
The findings may be beneficial to researchers and policymakers. The results suggest that institutional quality enhancements and obligatory IFRS implementation highlight IFRS’s synergistic influence on the IPO market. While European harmonization efforts drove the adoption of IFRS in Europe in 2005, Saudi Arabia’s adoption of IFRS is not being driven by such initiatives (Daske et al., 2008; Persakis and Iatridis 2017). In reality, when IFRS was officially imposed in Saudi Arabia in 2008, it, like many other emerging market nations, made considerable reforms to its formal institutions. However, research on the combined impact of IFRS and disparities in institutional quality in emerging IPO markets remains sparse. Emerging markets represent more than half of economies that use IFRS. Therefore, to the best of the authors’ knowledge, this study is the first to conduct an empirical investigation to identify this combined effect in emerging countries using the DiD analytical technique. Equity market legislators remain concerned regarding IPO underpricing, as it has a detrimental influence on economic growth (Bova and Pereira, 2012; Jamaani and Ahmed, 2021; Mehmood et al., 2021). Depending on the degree of information asymmetry in national stock markets, underpricing costs increase the cost of going public for entrepreneurs. Consequently, prospective private firms are discouraged from accessing equity financing through the stock markets. This is likely to impede private sector development plans, causing a negative effect on economic growth.
Originality/value
Emerging countries represent over 50% of the IFRS mandating economies. However, there is insufficient research on the combined effect of IFRS requirements and improvements in institutional quality in developing IPO markets. To the best of the authors’ knowledge, this study is the first empirical attempt to identify this combined effect in one of the largest developing countries. The results may aid academics and policymakers in better understanding the interaction between these two variables.
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Muhammad Mujtaba Asad, Amjad Ali Rind, Zahid Hussain Khand, Irfan Ahmed Rind and Shahid Hussain Mughal
The purpose of this study was to find out the perception of prospective teachers and teacher educators regarding the curriculum ideologies. The student–teachers and teacher…
Abstract
Purpose
The purpose of this study was to find out the perception of prospective teachers and teacher educators regarding the curriculum ideologies. The student–teachers and teacher educators from a public university of Pakistan participated in the study.
Design/methodology/approach
The current study has employed quantitative approach and used descriptive survey research design. The data was collected through the convenience sampling techniques. The data was collected through a questionnaire developed by Schiro in 2008. The questionnaire consisting of six parts and each part contains four statements on the curriculum ideologies of Scholar Academy, Social efficacy learner centered and social reconstruction ideology. The population of study comprised of 200 Prospective teachers of education department of a public sector University of Sindh, Pakistan. The data was collected by using 4-point Likert scale. The likert scale was ranging from the first priority to least priority. The reliability statistics was computed through Cronbach alpha α = 0.763. The data was analyzed through Statistical package for social science (SPSS) version 23.0 and mean and percentages were computed in this study.
Findings
The findings of the study revealed that most of the prospective teachers as well faculty members are following the scholar academy ideology to align with national goals of curriculum. The prospective teachers and faculty members believe that knowledge should be transferred from the institutions to the learners rather than the knowledge can be disseminated from the other sources as per the new dimensions for updated curriculum.
Practical implications
The current study suggests curriculum ideology awareness programs should be given to prospective teachers and faculty members before their induction. The study also recommends that a survey study can be conducted from teachers and teacher educators before designing the national curriculum of Pakistan because majority of participants believed that knowledge can only be transferred from institutions.
Originality/value
This empirical study has given thoughtful insights to investigate the curriculum ideologies with new dimensions for those who are studying in teacher education courses and for their mentors. So, this study has contributed new knowledge in the context of Sindh, Pakistan specifically in the domain of curriculum ideologies and frameworks.
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Khaled Ahmed Al Mansoori, Jawahitha Sarabdeen and Abdel Latif Tchantchane
E-government is new to the public administration sector of Abu Dhabi and it is rapidly expanding. The purpose of this paper is to explore the factors that might motivate citizens…
Abstract
Purpose
E-government is new to the public administration sector of Abu Dhabi and it is rapidly expanding. The purpose of this paper is to explore the factors that might motivate citizens to adopt the e-government public services provided by the Government of Abu Dhabi Emirate. The insights of the study will help government leaders to plan the delivery of public services effectively.
Design/methodology/approach
The study surveyed 638 United Arab Emirates (UAE) citizens living in three main districts of the Abu Dhabi Emirate. The research used an exploratory factor analysis that conforms the validity of the theoretical model to the data collected, confirmatory analysis to extract the latent factors and both multiple regression and structural equation modelling to test the research hypotheses.
Findings
The finding revealed that internet trust and performance expectancy was the strongest predictors of intention to use e-government services. Effort expectancy, facilitating conditions and trust had a positive influence on behavioural intention (BI). However, social influence (SI) did not have a significant effect. Gender, age and experience did not affect the relationship between SI and BI. It was also found that BI to use e-government services had a significant influence on the actual use of e-government sites.
Practical implications
When the government gets to know the major factors that affect the adoption of e-government services in Abu Dhabi, it can maximise its returns on ICT infrastructure investments by providing efficient service that could be adopted by the citizens.
Originality/value
The research has theoretical and practical value. Though the unified theory of acceptance and use of technology (UTAUT) model has previously been used in organisational settings, the present study uses a modified version in the context of citizens’ acceptance and use of e-government services. The present study thus provides an extension of the UTAUT model that could be suitable for developing countries such as the UAE.
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Honin Ali Yahya Al-Shaeer, J.M. Irwan, Abdullah Alshalif, Mugahed Amran, Hani Alanazi, W.C. Tang, Liyaning Tang, Abdulmajeed Alhokabi and Ayed Eid Alluqmani
This study aims to enhance the resilience of foamed concrete (FC) against carbonation and water absorption (WA) by integrating microorganisms, specifically Aspergillus iizukae…
Abstract
Purpose
This study aims to enhance the resilience of foamed concrete (FC) against carbonation and water absorption (WA) by integrating microorganisms, specifically Aspergillus iizukae EAN605.
Design/methodology/approach
The focus was on understanding how variables such as microorganism concentration, concrete density and water-to-cement (w/c) ratio affect these properties. Optimal results were observed under specific conditions—FC density set at 1800 kg/m³, a w/c ratio of 0.5 and an Aspergillus iizukae EAN605 concentration of 0.5 g/L—resulting in significant reductions in carbonation and WA compared to standard FC.
Findings
It is observed that fungi not only fill pores with calcium oxalate but also limit carbonation by consuming CO2 and block water penetration through their mycelial network. A central composite design within response surface methodology was employed for the experimental design, resulting in mathematical models that align closely with the empirical data. The models identified the most effective parameters for minimizing carbonation depth: FC density at 1970 kg/m³, fungal concentration at 0.585 g/L and w/c ratio at 0.470. Further regression analysis showed a high correlation between the experimental data and the predicted outcomes, with a coefficient of determination (R²) of 92.29 and a model F-value of 16.45.
Originality/value
Statistical analysis highlighted the significant roles of density and fungal concentration in these reductions. Besides, scanning electron microscopy provided visual evidence of fungal-mediated mineral formation in FC, supporting the empirical findings. Overall, the study demonstrated the effective use of Aspergillus iizukae EAN605 in enhancing the durability of FC, marking an innovative stride in sustainable construction materials.
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Ibrahim Alqasmi and Selim Ahmed
The study aims to investigate the nurse job enjoyment and their participation in medical affairs to enchance the quality of patient care in Saudi hospitals. In addition, this…
Abstract
Purpose
The study aims to investigate the nurse job enjoyment and their participation in medical affairs to enchance the quality of patient care in Saudi hospitals. In addition, this study also investigates the management team's role in patient care quality through the mediating effects of nurse job enjoyment and participation in medical affairs.
Design/methodology/approach
The present study used a self-administered survey questionnaire to collect data from registered nurses in Saudi hospitals. In this study, 600 survey questionnaires were distributed online (Google Forms) and received 266 valid responses (44.33% response rate). In addition, SmartPLS-4.0 was applied to validate the research constructs and test the hypotheses via partial least squares structural equation modelling (PLS-SEM).
Findings
The study's findings indicate that the job enjoyment of the nurses and participation in medical affairs have positive and significant effects on the quality of patient care. In addition, the research findings also suggest that the management team of the hospitals has a significant indirect influence on the quality of patient care through the medicating effects of nurse job enjoyment and participation in medical affairs.
Practical implications
The findings of this study also offer various practical implications. This study showed the direct impact of the management team on job enjoyment, medical affairs and patient care quality. Therefore, hospital authorities and policymakers may emphasise clear communication, collaboration, respect and trust for the effective management team in providing higher-quality patient care. The present study suggests that hospital policymakers should strive to create a positive work environment, provide adequate resources, foster team spirit, offer incentives and allow flexible scheduling to ensure higher job enjoyment and increase nurse participation in medical affairs.
Originality/value
This study adds to the growing body of knowledge by investigating the effects of the management team, job enjoyment and nurses' participation in medical affairs on patient care quality. This study also enhances the theoretical depth by exploring the mediating impact of job enjoyment in predicting the relationships between the management team and the quality of care provided to patients. The present study provides guidelines for healthcare service providers or practitioners to focus on the nurses' job enjoyment and their engagement in medical activities to continuously improve the quality of patient care in the hospitals.
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Work engagement denotes to a state of positive and affective motivation of elevated power joined with high educational levels and a great concentration on occupation and it is…
Abstract
Purpose
Work engagement denotes to a state of positive and affective motivation of elevated power joined with high educational levels and a great concentration on occupation and it is negatively affected by psychological problems. This study aims to assess the stress and work engagement among Palestinian nurses working in intensive care units.
Design/methodology/approach
A cross-sectional design was adopted. A convenience sample consisting of 225 intensive care nurses from governmental hospitals was recruited to participate. Data collection used the Nursing Stress Scale and Utrecht Work Engagement Scale-9, and demographic data were used to gather data throughout the period from February 10 to March 30, 2023.
Findings
Findings demonstrated that nurses’ stress levels were high (M = 105.9 ± standard deviation [SD] = 11.91). Concerning work engagement, the nurses endorsed moderate work engagement levels with a mean of 3.7 (SD = 0.4). Regarding work engagement subscales, the mean of vigor was 3.7 (0.6), dedication with a mean of 3.7 (0.6) and absorption with a mean of 3.7 (0.6). Also, the findings showed that stress, gender and monthly income were predictors of work engagement (p < 0.05).
Research limitations/implications
Despite the significant results, this study had the following limitations: the design was cross-sectional, which limits the ability to explore the cause and effect of the study variables, thus longitudinal studies are recommended. In addition, the study adopted a self-reported questionnaire based on participants’ understanding, culture and work context which could influence their responses.
Originality/value
The intensive care nurses had high stress levels and moderate work engagement. Stress, gender and monthly income were predictors of the work engagement. Thus, interventions should be encouraged to minimize stress, which has a significant influence on work engagement.
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Yahya Saleh, Ahmed Adnan Zaid and Rania Omar
This paper aims to investigate the relationship between total quality management (TQM) and the innovation performance of small and medium enterprises (SMEs) through empirical…
Abstract
Purpose
This paper aims to investigate the relationship between total quality management (TQM) and the innovation performance of small and medium enterprises (SMEs) through empirical testing. It also seeks to determine whether the relationship between TQM and SMEs’ innovation is mediated by organizational culture (OC).
Design/methodology/approach
Data from managers/owners of food SMEs in the West Bank regions of Palestine were collected through a questionnaire that was assessed for validity and reliability. A structural equation model (SEM) was constructed using Smart PLS 3.9.2 to investigate the relationships.
Findings
The statistical results contribute to the existing literature by demonstrating a direct and positive relationship between TQM and OC where both have a positive and significant impact on innovation in food SMEs. Additionally, the study found that there is a significant and positive indirect impact of TQM on innovation in food SMEs, which is mediated by OC.
Research limitations/implications
The study's results offer valuable insights to food SMEs' managers/owners in the current dynamic manufacturing landscape, with a focus on using TQM as a means of enhancing their innovation. The findings can provide guidance to food SMEs by highlighting the significance of OC, as it impacts the effective implementation of TQM and subsequently leads to an improvement in innovation levels.
Originality/value
This study enhances the existing literature on TQM by providing an in-depth understanding of TQM as perceived by food SMEs in Palestine. It addresses the gap in empirical research on the combined impact of TQM and OC on innovations in food SMEs. The study contributes to the theoretical framework and has significant managerial implications, providing recommendations for future research.
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Carmen Winkel, Laura Strachan and Siddiqua Aamir
The purpose of this study is to explore the experiences of Saudi Arabian university students returning home after having spent time away studying internationally. The…
Abstract
Purpose
The purpose of this study is to explore the experiences of Saudi Arabian university students returning home after having spent time away studying internationally. The investigation focused exclusively on female students who for diverse reasons were unable to complete their studies abroad.
Design/methodology/approach
A thematic analysis was applied to analyze the seven in-depth interviews conducted by the authors. By using an open coding method analytic patterns across the entire data set were identified and then analyzed.
Findings
The findings suggest that the students experienced reverse culture shock reintegrating and assimilating into their former lives in the Kingdom of Saudi Arabia and its conservative culture. This was especially surprising considering not one of the participants experienced culture shock when they first traveled to their host country – the USA, Canada or England.
Research limitations/implications
The study is limited to a small group of seven female undergraduates who are comparatively well educated and come from a middle and upper socioeconomic demographic. As a result, without additional research, the findings cannot be extended to groups outside of this demographic.
Practical implications
Students who have studied abroad need improved academic and social support networks when they return home, according to the findings. The authors want to raise awareness about the difficulties that students face upon their return. Teachers, counselors, and advisors need to be on the lookout for the symptomatology associated with these types of problems.
Social implications
Female Saudi students returning home after an extended period of study abroad face a variety of problems. They must fit into a restrictive, partriarchal culture in which they are not legally equal to men.
Originality/value
To date, there are no studies that shed light on reverse culture shock for students who returned to Saudi Arabia without a degree. Due to the large number of Saudi scholarship holders who study in English-speaking countries with government support, the study is the first attempt in this direction.