The aim of this research is to examine the selection criteria of customers for Islamic home financing in the context of Pakistan and to examine these factors with respect to…
Abstract
Purpose
The aim of this research is to examine the selection criteria of customers for Islamic home financing in the context of Pakistan and to examine these factors with respect to gender, age, income, and occupation.
Design/methodology/approach
This study uses a quantitative approach to investigate the choice criteria for Islamic home financing. All 18 independent variables are taken from previous research; for their analysis, descriptive statistics, independent sample t‐tests and ANOVA was used. Data were gathered from the customers of Islamic banking who use the services of Islamic home financing. The sample consists of 200 respondents. For the collection of data, a survey questionnaire with closed‐ended questions and a five‐point Likert scale was employed. The questionnaire was designed into two sections, one consisting of demographic information and the second relating to the selection criteria of Islamic home financing.
Findings
The results indicate that the shariah principle, fast and efficient services, price, bank reputation, and terms and conditions of product flexibility are the five most important factors considered by customers in choosing Islamic mortgages.
Research limitations/implications
The limitations relate to the sample area for the study, which is confined to Lahore, and due to the limited sample size, the findings cannot be generalized. Second, only four banks are considered.
Practical implications
This study is beneficial for practitioners in Pakistan by offering insight into choice criteria for Islamic home financing. The results should also be useful for Islamic bank managers who are also policy makers, as they can study and plan for attractive schemes and policies for customers through which they can fulfill their needs and expectations. For the researcher, this study will also add to the existing body of knowledge by providing novel evidence on the selection criteria used for Islamic home financing.
Originality/value
This topic has never been examined in the context of Pakistan, so this study initiates the choice criteria for Islamic home financing among Pakistani banks' customers. The paper provides potentially useful information for both customers (in selecting Islamic banks) and bank managers to identify the factors needed to attract customers.
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Mian Sajid Nazir, Javeria Mahmood, Fizza Abbas and Ayesha Liaqat
The upsurge of globalization has made investors cautious toward investing decisions, and, resultantly, sophisticated techniques of forecasting and analyzing the stock markets have…
Abstract
Purpose
The upsurge of globalization has made investors cautious toward investing decisions, and, resultantly, sophisticated techniques of forecasting and analyzing the stock markets have emerged. Particularly, this trend has gained momentum in emerging economies. One such trend is to overcome the investing risks associated with formation of rational bubbles. Bubbles are formed when asset prices inflate to a very high level temporarily, and they ultimately burst. Investors may take advantage of this short-lived phenomenon and gain high returns, but may also suffer as the entire investing value declines when the bubble bursts. The purpose of this paper is to identify rational bubbles in the emerging capital markets of South Asian region.
Design/methodology/approach
The monthly data have been obtained from June 1997 to February 2018 for Pakistan, Bombay, Dhaka and Colombo stock markets, and supremum-Augmented Dicky Fuller test developed by Phillips and Yu (2011) has been utilized to identify the rational bubbles.
Findings
The results revealed the presence of rational bubbles in South Asian equity markets. The current study is of significant nature for the facilitation of investors in future-making investing decisions concerning with the formation of rational bubbles.
Originality/value
Several studies have been conducted on stock markets of developed regions. Specific bubble episodes, which occurred previously, have helped the researchers and investors in gaining plenty of insights. A lot of studies have been conducted on the SAARC region as well. But they have used the conventional unit root test for bubble identification and not used as extensive data as, in this study, have been taken. This research is aimed to study equity prices of the four stock markets to establish the fact that if rational bubbles exist in the index, they are reflected in the returns or not.
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Ayesha Anwar, Rasidah Mohd-Rashid, Norliza Che Yahya and Chui Zi Ong
This study aims to examine the impact of sponsors and democratic government on the flipping activity of initial public offerings (IPOs).
Abstract
Purpose
This study aims to examine the impact of sponsors and democratic government on the flipping activity of initial public offerings (IPOs).
Design/methodology/approach
Based on the sample of 95 IPOs listed on the Pakistan Stock Exchange between January 2000 and December 2019, this study used multiple cross-sectional regression to examine the relationship between sponsors and democratic government on flipping activity.
Findings
The findings indicate a significant negative association between sponsors and the flipping activity of IPOs. Sponsor(s) signal quality by trying to share accurate information about company values. As a result, the confidence of rational investors in the company’s future prospectus increases and they hold their shares for future gains, which reduces the flipping activity. Also, democratic government, along with sponsors' participation, provides investors with liquidity immediately after listing.
Practical limitations/implications
The findings of this study have implications for investors as they may assist them make informed decisions about whether or not to invest in an IPO with high sponsor(s) ownership. In addition, issuers should consider the disclosure of sponsor information(s) as such information may directly affect the first day’s trading volumes.
Originality/value
To the best of the authors’ knowledge, this is the first research study that explores the correlation between sponsors and democratic government and flipping activity of IPO. This study is important for investors and issuers.
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Muhammad Naeem Shahid, Aamir Abbas, Khalid Latif, Ayesha Attique and Safwan Khalid
This study aims to identify the impact of corporate governance on performance of sugar mills. In order to study this relation, a model is constructed in which ownership structure…
Abstract
Purpose
This study aims to identify the impact of corporate governance on performance of sugar mills. In order to study this relation, a model is constructed in which ownership structure and independent directors are taken as independent variables. Whereas firm performance is analyzed by using proxy variables such as return on asset (ROA), return on equity (ROE) and sales growth. Moreover, size of board, working capital management (WCM) and philanthropy are taken as mediating variables between governance variables and firm performance.
Design/methodology/approach
The data of 32 sugar mills listed at Pakistan Stock Exchange for the period of four years (i.e. 2014–2017) is used for this research. Moreover, to investigate the model, generalized least squares statistical method is used to measure the relationship between variables.
Findings
The results revealed that there is significant but positive relationship between independent directors and ROA while ownership structure and ROE have significant but negative relationship. Thus, the board of directors should make it sure that all stakeholders and organizations should increase the nonfamily ownership in firms for better corporate performance. Moreover, philanthropy and WCM mediate the relationship between corporate governance and firms' performance.
Practical/implications
This research work will be helpful in the corporate governance, and further researchers can conduct their study by considering executive/nonexecutive director and institutional owners as governance variables.
Originality/value
This paper fulfills an identified need to study how Corporate Governance effect the performance of firm.
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The purpose of this paper is to analyze the long-run as well as short-run effect of economic growth, trade openness, urbanization and technology on environmental degradation…
Abstract
Purpose
The purpose of this paper is to analyze the long-run as well as short-run effect of economic growth, trade openness, urbanization and technology on environmental degradation (sulfur dioxide (SO2) emissions) in Asian emerging economies.
Design/methodology/approach
The study utilizes the augmented STIRPAT model and uses the panel cointegration and causality test to analyze the long-run and short-run relationships. Due to the unavailability of data for all Asian emerging economies, the study focuses on 11 countries, i.e. Bangladesh, Hong Kong, India, Indonesia, Iran, Malaysia, Pakistan, Philippines, Singapore, Sri Lanka and Thailand, and uses balance panel from 1980 to 2014 at annual frequency.
Findings
Results showed that the inverted U-shape hypothesis of the environmental Kuznets curve holds between economic growth and SO2 emissions. While technology and trade openness increases SO2 emissions, urbanization reduces SO2 emissions in Asian emerging economies in the long run. Unidirectional causality flows from urbanization to SO2 emissions and from SO2 emissions to economic growth in the short run.
Practical implications
Research and development centers and programs are required at the government and private levels to control pollution through new technologies as well as to encourage the use of disposed-off waste as a source of energy which results in lower dependency on fossil fuels and leads to reduce emissions.
Originality/value
This study contributes to the existing literature by analyzing the effects of urbanization, economic growth, technology and trade openness on environmental pollution (measured by SO2 emissions) in Asian emerging economies. This study provides the essential evidence, information and better understanding to key stakeholders of environment. The findings of this study are useful for individuals, corporate bodies, environmentalist, researchers and government agencies at large.
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The purpose of this paper is to analyze the long-run as well as short-run nonlinear effect of foreign direct investment (FDI), economic growth (EG) and industrialization on…
Abstract
Purpose
The purpose of this paper is to analyze the long-run as well as short-run nonlinear effect of foreign direct investment (FDI), economic growth (EG) and industrialization on environmental degradation (carbon dioxide (CO2) emissions) in Pakistan.
Design/methodology/approach
The study applies a nonlinear autoregressive distributive lag methodology to examine the long-run and short-run relationship among the variables. FDI, EG and industrialization are decomposed into positive and negative variations to examine the nonlinear relationship with CO2 emissions. Granger causality test is used to examine the direction of causality among the variables. The study uses annual time-series data of Pakistan from 1975 to 2016.
Findings
An increase in FDI has a positive and significant effect on CO2 emissions in the long run, while a decrease in FDI has a negative and insignificant effect on CO2 emissions. An increase in EG has a positive and significant effect, while a decrease in EG has a negative and insignificant effect on CO2 emissions in the long run. An increase in industrialization has a positive and significant effect on CO2 emissions, while a decrease in industrialization has a negative and insignificant effect on CO2 emissions. Unidirectional causality flows from CO2 emissions to a positive partial sum of FDI, EG, industrialization and a negative partial sum of EG in the short run.
Practical implications
The government has to establish the environmental regulation for industrial sectors. Research and development centers are required at government and private levels to control pollution through new technologies. Regulations and restrictions are required on the foreign investor to adopt friendly environmental policies.
Originality/value
This study contributes to the existing literature by analyzing the nonlinear effects of FDI, industrialization and EG on environmental pollution in Pakistan. The main significance of this investigation is to provide the essential evidence, information and better understanding to key stakeholders of the environment.
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Ayesha Latif Shaikh and Syed Hasnain Alam Kazmi
The purpose of this paper is to scrutinize the marketing orientation and market-oriented cultural elements of integrated Islamic schools. These integrated schools teach modern…
Abstract
Purpose
The purpose of this paper is to scrutinize the marketing orientation and market-oriented cultural elements of integrated Islamic schools. These integrated schools teach modern science curriculum alongside comprehensive religious instruction in an Islamic environment.
Design/methodology/approach
This is an inductive, exploratory research from an interpretivist study. Narrative inquiry was undertaken to understand the perceptions, attitudes and actions of school senior management and teachers. Content analysis of the school websites and social media pages was carried out. In total, 7 schools and 16 respondents became part of the purposive sample.
Findings
The presence of several integrated Islamic schools, experienced Islamic education leadership and Islamic education consultants are evidence of a growing sector. The schools are technologically enabled, strongly customer-oriented and adept at inter-functional coordination. The need-gap found in this sector is in competitor orientation, curriculum development and recruitment of specific criteria-based staff.
Practical implications
With the mushrooming of integrated Islamic schools in Pakistan, the level of competition has also risen. The schools have made a considerable investment and strives to maintain and increase the enrollment rate of the institute. This research can enlighten integrated Islamic educators about effective education marketing practices and the prevalence of marketing orientation in such schools.
Originality/value
In Pakistan, private primary schools strive to differentiate themselves and competitively position their value proposition. The marketization of education has begun to affect perceptions of school staff, teachers, students and academic work itself. Yet, there is scarce exploratory research on marketing done by integrated Islamic primary schools. This study will contribute foundational work for the development of a holistic marketing model tailored to the requirements of integrated Islamic schools.
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Alhamzah Alnoor, Gül Erkol Bayram, Chew XinYing and Syed Haider Ali Shah
This book is essential for anyone in artificial intelligence (AI) and destination management in the tourism industry or government. The book includes both theoretical and…
Abstract
This book is essential for anyone in artificial intelligence (AI) and destination management in the tourism industry or government. The book includes both theoretical and practical writings for stakeholders. In all chapters, we provide titles including AI, regenerative and green destinations, sustainable tourism, tourist motivations and expectations, good examples of smart destinations and regions, the regeneration of the tourism industry via AI, rethinking tourism activities and products, current issues in robots, self-service technology, effect of pandemic on smart destinations, sustainable gastronomy and regenerative tourism and tourism issues are discussed in the management plans of the centralisation. This book provides cases and empirical studies that deal in depth with the current situation, challenges, solutions and future strategies after technological development of tourism and increasing interest on smart destinations from a responsible perspective, for readers with an equitable interest or involvement with the organizations in inquiry.
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This article aims to explore the concept of green campus (GC) being implemented in Pakistan’s universities in order to attain green intellectual capital (GIC).
Abstract
Purpose
This article aims to explore the concept of green campus (GC) being implemented in Pakistan’s universities in order to attain green intellectual capital (GIC).
Design/methodology/approach
Primary data were collected from the 20 public sector universities in the Punjab province, Pakistan. Data analysis was conducted by using SPSS and MPLUS software.
Findings
Results confirm that green practices help universities to attain GIC. Further, the results also confirm the mediating role of green knowledge sharing (GKS) and green innovation (GI).
Research limitations/implications
The data were gathered from public sector universities in Pakistan. Hence, the findings of the present study may not be generalized to the private universities, other sectors or countries.
Practical implications
This study provides insights regarding the implementation of GC paradigm from technological perspective. This can enhance the information exchange among sustainability practitioners in order to introduce innovative solutions for addressing sustainability challenges.
Social implications
This study has developed a transdisciplinary policy framework that provides guidelines for higher education institutions in Pakistan to attain GI and IC.
Originality/value
The originality lies in framing GC as a generator of GIC while also establishing a strong link between IC, economy and the environment by demonstrating how environmental sustainability initiatives influence economic gains through enhanced reputation, cost reduction and stakeholder engagement. This study has developed a theoretical framework based on resource-based theory, which supports the notion that GCs will lead to GIC by developing GKS and GI.
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Muhammad Ali Asadullah, Ayesha Malik, Muhammad Zia Ul Haq and Ali Haj Khalifa
Labor process theory explains that employers prefer technology and systems over employees for efficiency gains. However, the mechanisms explaining the influence of technology and…
Abstract
Purpose
Labor process theory explains that employers prefer technology and systems over employees for efficiency gains. However, the mechanisms explaining the influence of technology and systems on different work-related employee outcomes are still a question mark. The purpose of this study is to test a mediation mechanism explaining how workforce analytics influence the work fulfillment experience of employees through work volition.
Design/methodology/approach
This study collected dyadic data from 55 HR managers and 350 employees serving in 55 different subsidiaries of Multinational Corporations in Pakistan.
Findings
The statistical results demonstrate that workforce analytics negatively affect fulfillment at work. However, work volition may reduce the negative relationship between workforce analytics and fulfillment at work. This study also found a significant but negative relationship between work volition and fulfillment at work.
Originality/value
This study found that integrating the use of workforce analytics with the work volition of employees is critical for positive employee outcomes.