Ashraf Md. Hashim, Farrukh Habib, Ziyaat Isaacs and Mohamed Anouar Gadhoum
The purpose of this paper is to explain and critically analyse the Sharīʿah screening criteria and cleansing process for income generated from stocks with a special focus on a…
Abstract
Purpose
The purpose of this paper is to explain and critically analyse the Sharīʿah screening criteria and cleansing process for income generated from stocks with a special focus on a newly developed ISRA-Bloomberg methodology.
Design/methodology/approach
The paper focuses on the methodology of ISRA-Bloomberg in terms of Sharīʿah screening of stocks and the income cleansing process. To achieve this objective, this paper adopts a descriptive approach.
Findings
The methodology of ISRA-Bloomberg is unique in terms of its criterion for screening stocks, the cleansing process and coverage of the universe of stocks. It facilitates the investors by offering a novel colour-coding scheme to indicate the Sharīʿah compliance of a stock. It also provides the exact ratios of the Sharīʿah-compliance criteria to the investors so they can closely observe changes in the trend of ratios and decide beforehand whether or not a company is likely to remain within the Sharīʿah-compliant list. The paper further discusses the issues in the screening and cleansing practices faced by the industry.
Research limitations/implications
This research is limited to the criteria of screening and income purification of stocks which have been used by ISRA-Bloomberg from a Sharīʿah perspective.
Practical/implications
The robust screening criteria and comprehensive analysis of the stocks will enhance the confidence of Islamic capital market participants. The investors, regulators and index providers will be equally able to benefit from this initiative.
Originality/value
The paper focuses on the recently established methodology of ISRA-Bloomberg, which has not been discussed in the literature until now. The methodology, because of its exceptionality, may add a new dimension to Sharīʿah screening and cleansing of stocks.
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Muhammad Ikhlas Rosele, Abdul Muneem, Abdul Karim Ali, Azizi Che Seman, Luqman Haji Abdullah, Noor Naemah Abdul Rahman and Mohd Edil Abd Sukor
The purpose of this study is to propose and develop a zakat model for digital assets from the Sharīʿah perspective.
Abstract
Purpose
The purpose of this study is to propose and develop a zakat model for digital assets from the Sharīʿah perspective.
Design/methodology/approach
This research adopts a qualitative research method while studying the literature thoroughly, and it analyzes the data through an exploratory research approach to propose a zakat model for the digital assets.
Findings
This research aims to develop a zakat model for digital assets within the framework of Sharīʿah. Using a qualitative research method, the study thoroughly examines existing literature and uses an exploratory research approach to propose this zakat model. The findings suggest that digital assets hold the potential to be considered for zakat in the contemporary digital age. Previous studies indicate that both commodity-based and currency-based digital assets meet the criteria for zakat imposition. Given zakat’s significant impact on socioeconomic development, it is imperative to carefully manage these assets to maximize their potential benefits. However, variations in interpretations by different jurisdictions and Sharīʿah scholars regarding the understanding and classification of digital assets lead to ongoing scrutiny from legal and religious perspectives. This research aims to contribute to the discourse by proposing a zakat model for digital assets and identifying potential assets eligible for zakat.
Originality/value
This research seems to be the pioneer in providing a zakat model for digital assets, combining different segments of digital assets.
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Umar Kayani, Fakhrul Hasan, Tonmoy Choudhury and Farrukh Nawaz
The purpose of this study is to investigate the realtionship between the strategic maneuvers in working capital management (WCM) and the ensuing corporate performance, chiefly…
Abstract
Purpose
The purpose of this study is to investigate the realtionship between the strategic maneuvers in working capital management (WCM) and the ensuing corporate performance, chiefly within the purview of companies aligned with Shariah-compliant financial practices during epochs of fiscal distress.
Design/methodology/approach
This study deploys a fixed effect regression model to dissect the WCM-performance nexus for Shariah and non-Shariah compliance firms in the UK. Here, the authors used FTSE 350 index data from 1990 till 2022. The authors used return on assets, return on equity and net profit margin as the dependent variables and they used working capital as the independent variable. Finally, a set of different control variables including, size, leverage, dividend and research and development. Furthermore, for robust purposes, the authors use the system generalized method of moments estimation.
Findings
The findings reveal a significant relationship between WCM and firm performance across different crisis periods. Effective WCM is associated with improved profitability and stability in firms. This study shows that firms with efficient WCM strategies were better positioned to navigate the financial turmoil of the GFC, the operational disruptions during COVID-19 and the economic impacts of the Russia–Ukraine conflict.
Originality/value
This research provides a significant perspective by spotlighting Sharia-compliant entities, thus charting new territory in the strategic finance discourse. In addition, the focus on Shariah-compliant firms introduces a novel perspective within the financial management domain, offering valuable insights for both academic researchers and financial practitioners.
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Muhammad Farrukh Shahzad, Huizheng Liu and Hira Zahid
The present research investigates the effects of adopting Industry 4.0 technologies (ADT) on the Pakistani food sector’s sustainable performance (SP). Specifically, it focuses on…
Abstract
Purpose
The present research investigates the effects of adopting Industry 4.0 technologies (ADT) on the Pakistani food sector’s sustainable performance (SP). Specifically, it focuses on the roles of green supply chain collaboration (GSCC), circular economy practices (CEP) and technological readiness (TR) as mediators and environmental dynamism (EDY) as a moderator.
Design/methodology/approach
This study is based on the natural resource-based view (NRBV) theory to determine the 14.0 adoption toward sustainable performance with mediators and moderators. The authors conducted an online questionnaire from 318 employees of the food manufacturing industries in Lahore, Pakistan, and applied the PLS-SEM approach to test the relationships of variables.
Findings
The findings of this study reveal that adopting Industry 4.0 technologies significantly influences sustainable performance through GSCC, CEP and TR in the Pakistani food sector. Moreover, the relation between industry 4.0 technologies, GSCC, CEP and TR is positively moderated by environmental dynamism.
Research limitations/implications
The findings have marked implications for the literature on adopting I4.0 on sustainable performance in the Pakistani food sector. This research is based on data collected from a single country, and industry is the limitation of this study.
Originality/value
The present study provides conclusive evidence of the influence of the adoption of Industry 4.0 on sustainable performance through GSCC, CEP and TR in the Pakistani food sector. This study is the first to investigate the moderating role of environmental dynamism among industry 4.0 technologies, GSCC, CEP and TR.
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Umair Ahmed, Muhammad Saeed and Shah Jamal Alam
This paper aims to explore the use and impact of social media, specifically Twitter (now X), in political mobilization in Pakistan. It focuses on the events followed by the…
Abstract
Purpose
This paper aims to explore the use and impact of social media, specifically Twitter (now X), in political mobilization in Pakistan. It focuses on the events followed by the no-confidence motion against Imran Khan as Pakistan’s prime minister in April 2022 and the protest campaign that ensued, facilitated through the strategic use of the Urdu hashtag #امپورٹڈ_حکومت_نامنظور (translated as “imported-government unacceptable”) on Twitter, both within and outside Pakistan.
Design/methodology/approach
Using Web scraping, data from Twitter was extracted and analyzed between 2022 and 2023. By probing into user account profiles and interactions with this hashtag, this paper investigates the claims surrounding the hashtag’s popularity, by identifying suspicious accounts and their contributions in the trending of the hashtag.
Findings
Findings suggest that the claim of the hashtag's unprecedented success was overhyped, further suggesting that the popularity and impact of the social media campaign were exaggerated. Despite high engagement rates, the study indicates a discrepancy between perceived influence and actual impact on public sentiment and political mobilization.
Originality/value
This paper contributes to the literature on social media’s role in political mobilization and agenda-setting in the Pakistani context. More generally, understanding hashtag dynamics and their impact on shaping public opinion, may be beneficial to academics and practitioners in better understanding the role of digital platforms in the politics.
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Meenal Arora, Anshika Prakash, Saurav Dixit, Amit Mittal and Swati Singh
This study aims to analyze the existing literature in human resource analytics and highlights the future research agenda and trends in the same context. It deals with evaluating…
Abstract
Purpose
This study aims to analyze the existing literature in human resource analytics and highlights the future research agenda and trends in the same context. It deals with evaluating regional distribution, identifying key authors, publications, journals and keyword occurrences while examining current literature.
Design/methodology/approach
A total of 127 articles exported from the Scopus database were systematically analyzed using bibliometric analysis through VOSviewer, including performance analysis and science mapping of the literature studied.
Findings
This research postulates the inconsistency between the number of publications and citations received by an author. There was an increase in collaborative research over the years. Human Resource Management Review was regarded as the most influential journal with maximum citation. Maximum publications came from Asian countries. The study revealed that the author with maximum citation were mostly the first authors of the most cited documents.
Practical implications
This research may be beneficial for both researchers and human resource (HR) practitioners because it identifies the research gaps and research needs in the HR analytics domain. Besides, this study recognizes the patterns in HR analytics literature that helps researchers better understand the subject area.
Originality/value
This research incorporates bibliometric analysis for analyzing HR analytics literature to establish a more exhaustive and systematic understanding of the research area. This research contributes to the existing body of literature and assists fellow researchers in future studies.
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This chapter covers the effect of country's economic and political situation on sustainability reporting disclosure (in particular the corporate social responsibility aspect). The…
Abstract
This chapter covers the effect of country's economic and political situation on sustainability reporting disclosure (in particular the corporate social responsibility aspect). The first section discusses the previous empirical studies in this topic. Based on this, the second section develops the theoretical framework in order to examines the moderating role of a country's economic activities (GDP) and political or institutional quality (IQ) on the relationship between corporate social responsibility disclosure (CSRD) and a banks' operational, financial and market performance. For this purpose, we used ordinary least square (OLS), panel fixed-effect regression and IV-GMM to estimate the parameters of the models. We find that the CSRD scores negatively influences bank's performance. The moderator of CRSD and the level of economic activities have a positive influence on that bank's performance. However, the moderator (CRSD and country's institutional quality), while showing positive relationship with bank's performance, has a significant effect only on bank's operational and financial performance.
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Attia Aman-Ullah and Waqas Mehmood
The purpose of this study is to examine the impact of Islamic work ethics (IWEs) on the job satisfaction, commitment and loyalty among the bank employees in Azad Jammu and…
Abstract
Purpose
The purpose of this study is to examine the impact of Islamic work ethics (IWEs) on the job satisfaction, commitment and loyalty among the bank employees in Azad Jammu and Kashmir, Pakistan.
Design/methodology/approach
Data for this study was collected using the purposive sampling from 354 bank employees of Azad Jammu and Kashmir region.
Findings
The findings of this study support all the three proposed hypotheses, with IWEs demonstrating significant positive relationships with job satisfaction, organisational commitment and employee loyalty.
Practical implications
Because of the nature of operations, banks need energetic employees who can participate actively in work activities. The implementation of IWEs enables banks to improve their employees’ satisfaction, commitment and loyalty, which will benefit the organisation in the long term through improved performance.
Originality/value
By encouraging the adoption of IWEs, organisations can increase job satisfaction, employee’s commitment and loyalty in the workplace, especially in an Islamic banking context. Therefore, managers should strengthen the mutual understanding among employees regarding IWE principles. They should be consistently applied and disseminated by Islamic banks’ management in the form of a formal code of ethics that applies to all actions within the organisation. Besides, this study contributes in terms of divine command theory which was yet to be tested with employee’s behaviour. Loyalty was another behavioural attribute which is providing novelty while testing with IWEs in banking context.
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Asad Aman and Gillian Hopkinson
The purpose of this paper is to consider the impact of the entry of international wholesalers upon existing fast moving consumer goods (FMCG) channel structures and the…
Abstract
Purpose
The purpose of this paper is to consider the impact of the entry of international wholesalers upon existing fast moving consumer goods (FMCG) channel structures and the relationships between channel members in Pakistan.
Design/methodology/approach
The paper draws on primary and secondary data. Industrial and published sources are used to describe the retail industry and traditional channel structures in Pakistan. Semi‐structured interviews with industry experts and channel participants (manufacturers, distributors, local and organised wholesalers and retailers) over the period illustrate the perspectives of different channel members.
Findings
Although currently holding small market share, the entry and growth of international, consolidated wholesale has opened alternative channel structures. This poses a threat to some channel members and creates relationships that alter the distribution of power in the channel. In this fluid situation, there is the possibility of substantial change in Pakistan's FMCG retail.
Research limitations/implications
The nature of the Pakistan retail market creates difficulties in compiling statistics or generalising from observations. The paper uses published statistics, industry reports and interviews to nevertheless be able to comment on this important market.
Originality/value
The paper looks at an under‐researched market and comments upon the first steps in that market towards consolidation and internationalisation. In looking at the reactions of extant market players to this recent development, the paper provides useful insight and guidance to those (manufacturers, retailers and analysts) interested in retail in Pakistan.