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Article
Publication date: 20 February 2017

Yugang Yin and Bin Tan

The purpose of this paper is to find out whether the election of star analysts leads to the conflict of interests between analysts\institutional investors and individual…

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Abstract

Purpose

The purpose of this paper is to find out whether the election of star analysts leads to the conflict of interests between analysts\institutional investors and individual investors. And then, further investigate how the election results to influence the individual investors’ decision making.

Design/methodology/approach

Given the fact that earnings forecasts and stock ratings are the most important foundations for the investor’s investment decision, the authors investigate the relationship among the earnings forecasts, abnormal returns and the election of star analyst. This paper further analyzes the impact factors on investors’ decision. The data used in this paper for star analysts’ information, analysts’ forecast and recommendations, as well as stock performances-related data are from 2005 to 2012.

Findings

This paper finds that mass media cannot select analysts with high forecast accuracy, and then misleads investors. It demonstrates that the analysts with poorer forecast ability and more optimistic stock recommendations are more prone to be entitled as star analysts by mass media, and these titled star analysts tend to show a poorer performance. Therefore, the star analyst worsens investors’ cognition on analysts forecast ability and then misleads investors’ decision making.

Social implications

Media plays a critical role in corporate governance, information collection and diffusion and reducing the information asymmetry, however, it is good to know the role of media in financial markets from a broader perspective. Because media may also bring negative factors to the financial markets such as misguiding the investors and intensify the conflict of interests between analyst and individual investors.

Originality/value

This paper supports a new perspective of the role of mass media in financial market, which is different from existing studies.

Details

China Finance Review International, vol. 7 no. 1
Type: Research Article
ISSN: 2044-1398

Keywords

Content available
Book part
Publication date: 13 October 2022

Raheel Nawaz and Khydija Wakil

Abstract

Details

Visual Pollution
Type: Book
ISBN: 978-1-80382-042-2

Article
Publication date: 1 March 1997

Muhammad Syukri Salleh and Abdul Fatah Che Hamat

In the opening speech at the International Islamic Capital Market Conference held in Kuala Lumpur recently, the Deputy Prime Minister Dato Seri Anwar Ibrahim (1996: 5), referring…

1443

Abstract

In the opening speech at the International Islamic Capital Market Conference held in Kuala Lumpur recently, the Deputy Prime Minister Dato Seri Anwar Ibrahim (1996: 5), referring to the role of the capital market, advocates an “economic growth with distributive justice, profitability with social responsibility, prudent management and transparency in dealings”. He believes that these are the prerequisites of a healthy and sustainable economy.

Details

Humanomics, vol. 13 no. 3
Type: Research Article
ISSN: 0828-8666

Article
Publication date: 21 December 2022

A.A.G. Krisna Murti, Sidharta Utama, Ancella Anitawati Hermawan and Yulianti Abbas

This study aims to investigate whether country governance, regulated industry and firm-level characteristics, namely, ownership structure and firm size, are associated with the…

386

Abstract

Purpose

This study aims to investigate whether country governance, regulated industry and firm-level characteristics, namely, ownership structure and firm size, are associated with the likelihood of firms having a politically connected board (PCB). This study also examines whether country governance and concentrated ownership moderates the association between institutional ownership and PCB.

Design/methodology/approach

This study uses cross-country analysis using 20 countries and hand-collected PCB data from 574 firms and 1,701 firm-year. This study performs logit regression analyses to examine hypotheses.

Findings

The results document that countries’ accountability, industry type and institutional ownership are associated with the likelihood of firms having a PCB. This study also finds that country governance, especially accountability, moderates the relationship between institutional ownership and PCBs. The results thus indicate the importance of country governance, especially accountability, in determining institutional investors’ political strategies.

Practical implications

This study provides several implications. First, firms tend to elect PCBs as a non-financial strategy because it arguably delivers additional resources and improves their performance, especially in countries with lower accountability and regulated industries. Meanwhile, investors and management must also hire PCBs cautiously because PCBs are closely related to agency issues. Agency issues reflect on the finding that institutional investors tend to avoid PCBs. However, the relationship between institutional investors and PCBs is closely related to the country-level context, especially accountability. This study also advises policymakers that country governance, especially accountability, is crucial in regulating the relationship between business and politics.

Originality/value

This study uses a relatively large number of new PCB and institutional ownership data collected manually from 20 countries. This study also examines several variables of country governance, such as accountability to PCB decisions that have not been tested before. This study examines the relationship between institutional ownership and PCB ownership decisions that were not examined before and uses a cross-country sample. In addition, to the best of the authors’ knowledge, this study is the first one that examines the role of state governance, especially accountability for the relationship between institutional ownership and PCBs.

Details

Journal of Financial Reporting and Accounting, vol. 23 no. 1
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 14 February 2025

Mingyu Gao, Jinghua Xu, Kunqian Liu, Shuyou Zhang and Jianrong Tan

The purpose of this paper is to verify the performance and function of the scale-up prototypes by predicting the material and energy consumption on the basis of dimension-reduced…

10

Abstract

Purpose

The purpose of this paper is to verify the performance and function of the scale-up prototypes by predicting the material and energy consumption on the basis of dimension-reduced prototypes. Additive manufacturing (AM) costs determine carbon emissions in total life cycle, among which material and energy consumption are major components. Predicting material and energy consumption is fundamental to reducing costs.

Design/methodology/approach

This paper presents a material and energy co-optimization method for AM via multiple layers prediction (MLP). Material and energy consumption are predicted to reduce the AM costs. In particular, scalable, complex curved surface component is used to improve forecasting efficiency. Subsequently, the back pressure distribution is obtained by scale-up specimens, which can lay the foundation for the ergonomic conceptual design.

Findings

Taking evolutionary ergonomic product as an example, the relative gravity direction of backrest is calculated. The material and energy consumption are predicted with low deviation. Physical experiments were carried out to validate information. Digital and physical tests have revealed that material and energy co-optimization improves manufacturing efficiency.

Originality/value

The innovatively proposed MLP method predicts material and energy consumption of scale-up prototypes to reduce the costs. It is propitious to improve the carbon emission efficiency in life cycle of AM. The originality may be widely adopted alongside increasing environmental awareness.

Details

Rapid Prototyping Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2546

Keywords

Article
Publication date: 1 March 1989

Brian N. Ellis

This profile is somewhat more exotic than the usual ones found in this, hopefully, august journal and your reporter would like to dwell on the background more than is usual. If…

35

Abstract

This profile is somewhat more exotic than the usual ones found in this, hopefully, august journal and your reporter would like to dwell on the background more than is usual. If you take your world atlas, you may find Ipoh as an isolated dot in the middle of the Malaysian peninsula, a little to the north‐west of Kuala Lumpur. Viewed thus, why would Multicore Solders choose such an isolated outpost to establish a subsidiary factory? Arriving at the international airport at Kuala Lumpur starts to give one a clue: there are enormous bare scars in the plain. Flying from Kuala Lumpur to Ipoh, these scars multiply. They are the remains of the open‐cast tin mines in the alluvial deposits. Viewed from the air, they are a terrible blot on the landscape. The amazing thing is that they juxtapose oil palm, fruit and rubber plantations and even untouched jungle, but they remain bare and desert for decades. It is evident that no effort has been made to conserve the vegetable soil and replace it after the mining operations are finished, but this may be because the humus layer is so thin that it would be impossible to do so. To the ignorant European that this writer is, I imagined that the jungle was an all‐invading vegetation ready to swallow‐up every square metre of land: not so, it is a very precarious ecosystem where the humus formed by the rotting vegetation is swallowed up by the new growth faster than it can form. The jungle soil is very thin, bare rock being common and such a humus layer may take decades or even centuries to form. Most of the disused tin‐mines are therefore as devoid of life as the starkest desert. It would seem that, after fifty years or so, the first signs of vegetation start to reappear, a very meagre growth which, in time, may develop into scrub or secondary jungle without high trees.

Details

Soldering & Surface Mount Technology, vol. 1 no. 3
Type: Research Article
ISSN: 0954-0911

Article
Publication date: 8 February 2016

Umar A. Oseni and Abu Umar Faruq Ahmad

The paper aims to examine significant developments in the institutional framework for dispute resolution in the Islamic finance industry in Malaysia. Malaysia, as part of its…

1933

Abstract

Purpose

The paper aims to examine significant developments in the institutional framework for dispute resolution in the Islamic finance industry in Malaysia. Malaysia, as part of its efforts to consolidate its enviable Islamic finance industry, has strengthened its institutional framework for dispute resolution.

Design/methodology/approach

Data for this study were collected from both primary and secondary legal sources. Through a conceptual legal analysis, the institutional frameworks of dispute resolution in the Malaysia’s Islamic finance industry are studied.

Findings

The study finds that Malaysia is far ahead of other jurisdictions by a significant margin in spearheading reforms in the emerging global Islamic finance industry. The dispute resolution framework has been largely affected by the recent reforms.

Research limitations/implications

Other jurisdictions may borrow a leaf from Malaysia’s initiative in providing a robust legal framework for dispute management in the Islamic finance industry.

Practical implications

Apart from adopting Malaysia’s framework and possibly adapting it to suit their specific local variations, other jurisdictions may also encourage Islamic financial institutions to incorporate effective dispute resolution processes in Islamic finance contracts.

Originality value

This study critically discussed most recent developments in the institutional framework on dispute resolution in the Islamic finance industry in Malaysia.

Details

International Journal of Law and Management, vol. 58 no. 1
Type: Research Article
ISSN: 1754-243X

Keywords

Content available
Article
Publication date: 23 February 2010

Mohammad Shahrizal Mohammad Idris

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Abstract

Details

Journal of Facilities Management, vol. 8 no. 1
Type: Research Article
ISSN: 1472-5967

Book part
Publication date: 13 October 2022

Raheel Nawaz and Khydija Wakil

Abstract

Details

Visual Pollution
Type: Book
ISBN: 978-1-80382-042-2

Article
Publication date: 16 July 2021

Shinaj Valangattil Shamsudheen, Saiful Azhar Rosly and Syed Abdul Hamid Aljunid

This study aims to examine the decision-making behaviour of Islamic banking practitioners of the United Arab Emirates with special reference to the operational line heterogeneity…

221

Abstract

Purpose

This study aims to examine the decision-making behaviour of Islamic banking practitioners of the United Arab Emirates with special reference to the operational line heterogeneity by employing factors that are religious in nature such as intellect, satanic force and divine knowledge as encapsulated in al-Ghazali’s ethical philosophy.

Design/methodology/approach

A total of 337 samples were collected from the Islamic banking practitioners in the United Arab Emirates using a purposive sampling technique, and the empirical analysis was conducted with the measures of model fit and bootstrapping technique using Partial least square Structural equation modelling and multi-group analysis.

Findings

The empirical findings reveal that the dedicated use of intellect in making decisions related to ethical issues where desires and emotions tend to overwhelm reason and human choices. While divine knowledge is found ineffective guidance of the intellect, the element of satanic force is found significantly impacting decision-making. As the lack of religious consciousness is evident among respondents, higher exposure to operational risk is expected. These findings were found identical across the Islamic banking practitioners in different lines of operations.

Research limitations/implications

The span of the study is limited to a single country. Future studies are recommended to replicate the study to more markets where the share of Islamic finance is significant.

Practical implications

Findings of the study highly suggest respective authorities of Islamic financial institutions to intensify the capacity-building programs on the foundation of faith which includes Islamic thought and worldview, to enhance the corporate ethical decision-making. Moreover, equal importance should be given to all the banking practitioners regardless of line of business operations.

Originality/value

With undue emphasis is given to the juristic (fiqh) aspects of Shariah compliance in the Islamic banking and finance industry, less has been attempted to explore its ethical dimension (akhlaq) in the compliance parameters that leave a relatively large gap to address prevailing unethical practices in Islamic finance institutions. Findings from this study can be useful as a warning to the Islamic banking firms to enhance the sense of God-fearing and improve existing measures in the organisation in mitigating operational risks that may arise from people or system and consequently ensure the smooth governance of the Islamic banks.

Details

International Journal of Ethics and Systems, vol. 37 no. 4
Type: Research Article
ISSN: 2514-9369

Keywords

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