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Article
Publication date: 1 March 1997

Jeanette M. Diamond, Fuad A. Abdullah and Keith A. Olson

Employing cluster analysis techniques, the paper examines the efficacy of international diversification across economic sectors, or the so‐called “bottom‐up approach,” as…

301

Abstract

Employing cluster analysis techniques, the paper examines the efficacy of international diversification across economic sectors, or the so‐called “bottom‐up approach,” as contrasted with the traditional approach used by fund managers of allocating assets by country and then by sector. The study covered the 1986–93 period and examined data for seven economic sectors in 20 countries divided into three regional groupings (North America, Pacific Rim, and Europe). The findings are portrayed in dendograms which depict the correlation coefficients between sector pairings. The statistical evidence suggests that the market sector approach has a great deal of merit as a basis for international portfolio diversification.

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International Journal of Commerce and Management, vol. 7 no. 3/4
Type: Research Article
ISSN: 1056-9219

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Article
Publication date: 1 March 2004

Hormoz Movassaghi, Alka Bramhandkar and Milen Shikov

This study examines the fund‐level correlates of return and share price discount or premium for the closed end funds (CEFs) investing in emerging and developed capital markets. It…

925

Abstract

This study examines the fund‐level correlates of return and share price discount or premium for the closed end funds (CEFs) investing in emerging and developed capital markets. It also compares the performance of CEFs investing in emerging markets with similar types of funds that invested in the developed markets, especially significant in light of recent economic crises experienced by a number of such emerging economies and their ripple (contagion) effects felt in other emerging or developed capital markets. Lastly, as emerging markets constitute a wide array of countries with very different economic records, this paper looks into the performance of emerging markets CEFs by region as well as the performance of single‐country versus regional funds. Findings confirmed results of many studies of domestic and international open‐ or closed‐end funds on determinants of return and share price discount or premium. Emerging capital markets also continued to provide an outlet for international investors to improve their portfolio return despite significant volatility that surrounded them during the study period. Lastly, this study did not find any compelling evidence for consistent superior performance by CEFs investing in any particular region or country within the emerging markets.

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Managerial Finance, vol. 30 no. 3
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 January 1996

Lawrence Peter Shao and Alan T. Shao

The purpose of this study is to examine the capital budgeting strategies that are used by foreign subsidiaries of U.S.‐based multinational enterprises. While the results indicated…

1180

Abstract

The purpose of this study is to examine the capital budgeting strategies that are used by foreign subsidiaries of U.S.‐based multinational enterprises. While the results indicated a preference for sophisticated capital budgeting techniques as the primary method of analysis, the actual use of sophisticated capital budgeting techniques by foreign managers may not be as widespread as expected by financial theorists. Although it was found that certain environmental and company‐specific factors influenced the level of sophistication of capital budgeting practices used by U.S. foreign subsidiaries, the associations were small and had only minor explanatory significance. The results showed that foreign subsidiaries exposed to high levels of political and financial risk tended to use sophisticated capital budgeting strategies. Subsidiaries characterized by high levels of financial leverage and high cost of capital requirements also employed advanced capital budgeting strategies. Multinational enterprises (MNEs) have many options available to them in terms of how they manage their foreign subsidiaries. Traditionally, most major policy decisions were made at the parent firm's headquarter office while foreign subsidiaries had few opportunities to influence major corporate decisions. Today, more companies are using a flexible approach which involves setting strategic goals at the home office and allowing local managers to implement their own specific policies. An important question in this study involved determining how effective local foreign managers were in implementing their capital budgeting processes. As U.S.‐based MNEs continue to expand their operations abroad, there is an increased need to examine which financial decision models are actually used by subsidiary managers to deal with the increased complexity of investing in foreign countries. Unlike traditional capital budgeting analysis, international analysis is a considerably more complex process. These complexities occur for a number of reasons including complicated cash flows estimates, changes in foreign exchange rates, different accounting systems, potential for blocked funds, and political risk considerations. These factors are rarely experienced by traditionally domestic U.S. firms. To maintain a competitive edge, MNEs must continue to use the most efficient approaches available to them. This study provides a detailed analysis of the capital budgeting practices that are actually being used by foreign subsidiaries of U.S.‐based MNEs. The paper is organized in the following manner. Section I provides a brief overview of the theoretical and practical issues of international capital budgeting analysis. Section II focuses on the areas of data collection, questionnaire design, and environment‐specific and company‐specific factors. Section III discusses usage of capital budgeting techniques, adjustment and assessment of project risk, and factors influencing capital budgeting policies. The final section presents some findings from this study.

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Managerial Finance, vol. 22 no. 1
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 30 August 2011

Mohd. Fuad, Sawari, Razi Hassan and Faruk Abdullah

Considering the popularity of the premium savings certificate (PSC) of the National Savings Bank of Malaysia (Bank Simpanan Nasional (BSN)) the paper aims to justify the Shari'ah

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Abstract

Purpose

Considering the popularity of the premium savings certificate (PSC) of the National Savings Bank of Malaysia (Bank Simpanan Nasional (BSN)) the paper aims to justify the Shari'ah compliancy of this product by analyzing its underlying contracts and to propose a Shari'ah compliant savings certificate, if the current practice is invalid in the Shari'ah.

Design/methodology/approach

Inductive methodology is first used to obtain a basic understanding of this product and the characteristics of Shari'ah approved contracts as well as the views of the jurists. Interviewing method is also used to acquire first‐hand information when the inductive method is not sufficient. Afterwards, an analytical approach is adopted to justify the validity of this contract with the Shari'ah principles. Finally, an innovative methodology is used to propose a Shari'ah compliant savings certificate.

Findings

The paper argues that the underlying contract used in PSC violates the conditions of wadi'ah contract, as in wadi'ah, the bank is not allowed to spend the money for investment, but in practice, BSN uses the money for investment. Therefore, the underlying contract in PSC turns into qard (loan) contract. Since the scholars unanimously declare that giving any kind of benefit like prizes to the creditor is riba, then PSC is considered as invalid according to the Shari'ah. On the other hand, although PSC might seem like gambling, it is different from gambling as the prizes given to PSC are from a third party. The paper proposes implementing mudarabah contract in PSC where the bank is allowed to invest according to its interest and the depositors share the profit and loss but the huge fluctuation of profit and loss could be shrunk by a special fund method.

Originality/value

In particular, it attracts the attention of BSN management to change their product's features. In general, it discovers a non‐Shari'ah compliant feature of savings certificates and outlines the feature of a Shari'ah compliant saving certificate for the practitioners of Islamic banking all over the world.

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International Journal of Islamic and Middle Eastern Finance and Management, vol. 4 no. 3
Type: Research Article
ISSN: 1753-8394

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Article
Publication date: 5 December 2023

Jun Liu, Sike Hu, Fuad Mehraliyev, Haiyue Zhou, Yunyun Yu and Luyu Yang

This study aims to establish a model for rapid and accurate emotion recognition in restaurant online reviews, thus advancing the literature and providing practical insights into…

362

Abstract

Purpose

This study aims to establish a model for rapid and accurate emotion recognition in restaurant online reviews, thus advancing the literature and providing practical insights into electronic word-of-mouth management for the industry.

Design/methodology/approach

This study elaborates a hybrid model that integrates deep learning (DL) and a sentiment lexicon (SL) and compares it to five other models, including SL, random forest (RF), naïve Bayes, support vector machine (SVM) and a DL model, for the task of emotion recognition in restaurant online reviews. These models are trained and tested using 652,348 online reviews from 548 restaurants.

Findings

The hybrid approach performs well for valence-based emotion and discrete emotion recognition and is highly applicable for mining online reviews in a restaurant setting. The performances of SL and RF are inferior when it comes to recognizing discrete emotions. The DL method and SVM can perform satisfactorily in the valence-based emotion recognition.

Research limitations/implications

These findings provide methodological and theoretical implications; thus, they advance the current state of knowledge on emotion recognition in restaurant online reviews. The results also provide practical insights into intelligent service quality monitoring and electronic word-of-mouth management for the industry.

Originality/value

This study proposes a superior model for emotion recognition in restaurant online reviews. The methodological framework and steps are elucidated in detail for future research and practical application. This study also details the performances of other commonly used models to support the selection of methods in research and practical applications.

Details

International Journal of Contemporary Hospitality Management, vol. 36 no. 9
Type: Research Article
ISSN: 0959-6119

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Publication date: 24 June 2024

Tayeb Brahimi and Akila Sarirete

Technology-enhanced learning (TEL), particularly in science, technology, engineering, arts, and math (STEAM), revolutionizes educational approaches by fostering active…

Abstract

Technology-enhanced learning (TEL), particularly in science, technology, engineering, arts, and math (STEAM), revolutionizes educational approaches by fostering active, transformative learning and expediting the learning process. TEL employs various tools like online courses, artificial intelligence (AI) technologies, virtual reality (VR), simulations, makerspaces, visual learning, and project-based learning, all contributing to accelerated learning in STEAM. A notable TEL innovation is the emergence of Large Language Models (LLMs) and AI chatbots, exemplified by the release of GPT-3 in December 2022. These tools utilize extensive parameters to generate natural language and perform tasks such as classification and prediction, thereby offering personalized and collaborative learning experiences essential for STEAM education. The generative pre-training transformer (GPT), a leading model in natural language processing (NLP), excels in generating human-like text and handling complex tasks like translation, summarization, and question answering. This chapter explores TEL environments that support transformative learning in STEAM, focusing on AI models. It reviews research on TEL’s impact on STEAM education, discussing the constructionism theory and emphasizing TEL’s role in creating engaging, student-centered learning experiences. However, challenges like technology access, instructor training, infrastructure, internet connectivity, and hardware resources are crucial. Additionally, the rise of AI brings ethical concerns regarding privacy, security, and potential biases in AI algorithms. Despite these hurdles, TEL’s potential to enhance STEAM learning experiences and accelerate the educational process is significant. By effectively implementing TEL strategies and leveraging LLMs and AI tools, educators can substantially improve learning outcomes in STEAM education.

Details

Transformative Leadership and Sustainable Innovation in Education: Interdisciplinary Perspectives
Type: Book
ISBN: 978-1-83753-536-1

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Available. Open Access. Open Access
Article
Publication date: 15 December 2021

Dewi Hj Samri and Haziq Aisha

Keberkesanan penyampaian sesuatu maklumat memerlukan individu, alat mahupun saluran yang unggul dan bersesuaian. Usaha ini haruslah dirancang dan dipertimbangkan dengan teliti…

1495

Abstract

Keberkesanan penyampaian sesuatu maklumat memerlukan individu, alat mahupun saluran yang unggul dan bersesuaian. Usaha ini haruslah dirancang dan dipertimbangkan dengan teliti oleh pihak tertentu agar setiap apa yang ingin disampaikan dan dilaksanakan itu dapat diberigakan dengan mudah dan berkesan. Dari itu, penggunaan bahasa retorik dilihat sebagai batu loncatan yang memberikan keyakinan dan tahap keberkesanan yang tinggi bagi sesebuah wacana yang disampaikan tersebut. Kewibawaan retorik sebagai seni yang mempengaruhi bukan sahaja berperanan untuk memperkukuhkan kekuasaan mahupun mempengaruhi fikiran dan emosi orang lain namun sebaliknya mampu menstimulasikan keseimbangan hubungan sosial yang terbentuk melalui sistem pemerintahan sesebuah negara. Melalui penyelidikan ini, setiap ciri khas retorik dapat diketengahkan dengan menghuraikan peranan dan fungsi-fungsi yang dimainkan oleh jenis-jenis retorik dalam penulisan sesebuah wacana. Hal ini khusus bagi mengilustrasikan idea, gagasan mahupun suatu fakta terhadap sesuatu pendekatan dengan cara yang kreatif dan terbaik. Di samping itu, keutamaan bagi penerapan bahasa retorik dalam perutusan kerajaan seharusnya dapat diperkasakan sewajarnya dengan menjadikannya sebagai anjakan paradigma ke arah perpaduan dan nilai kesaksamaan dalam masyarakat. Justeru, kajian ini memanfaatkan Teori Retorik Moden oleh Enos dan Brown (1993) sebagai landasan utama dalam menganalisis sejumlah 20 perutusan rasmi berkaitan jangkitan covid-19 di Negara Brunei Darussalam. Berdasarkan pemerhatian dan penganalisisan yang dijalankan, hanya empat jenis retorik yang diaplikasikan dalam wacana tersebut. Kesimpulan statistik merangkumi 34% teknik pendedahan, 30% teknik penerangan, 33% teknik pemujukan dan hanya 3% bagi teknik penghujahan. Dapatan penyelidikan ini membuktikan bahawa penggunaan bahasa retorik dalam perutusan rasmi kerajaan adalah amat penting dalam memperkukuhkan sistem pemerintahan negara serta mampu melestarikan cara hidup yang relevan dan berkualiti.

The effectiveness of delivering information requiresindividuals, tools or channels that are superior and appropriate. This effort must be planned and considered carefully so that everything that is to be conveyed and implemented can be conveyed easily and effectively. Therefore, the use of rhetorical language is regarded as a stepping stone that provides confidence and a higher level of effectiveness. `Rhetoric as an influential art not only plays a role in strengthening power or influencing the thoughts and emotions of others but also stimulate sthe balance of social relations. Through this research, each rhetorical feature is highlighted to discuss its role and functions in the discourse. Using Enos and Brown’s Modern Rhetorical Theory (1993), a total of 20 official conferences on the latest developments of the spread of covid-19 infection were discussed. Findings have shown that there were four main types of rhetoric, i.e. Statistical conclusions which include 34% of expository techniques, 30% of descriptive, 33% of persuasion and only 3% for argumentation techniques. This also implies that rhetoric language is very important in ensuring the dissemination of knowledge among the institution and people is effective and and transparent.

Details

Southeast Asia: A Multidisciplinary Journal, vol. 21 no. 2
Type: Research Article
ISSN: 1819-5091

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Article
Publication date: 11 October 2021

Fuad Mehraliyev, Irene Cheng Chu Chan and Andrei Petrovich Kirilenko

This study aims to conduct a systematic review and critically analyze the sentiment analysis literature in hospitality and tourism from methodological (data sets and analyzes) and…

4289

Abstract

Purpose

This study aims to conduct a systematic review and critically analyze the sentiment analysis literature in hospitality and tourism from methodological (data sets and analyzes) and thematic (topics, theories, key constructs and their relationships) perspectives.

Design/methodology/approach

Qualitative thematic review and quantitative systematic review were performed on 70 papers obtained from hospitality and tourism categories of two databases, namely, Web of Science and Scopus.

Findings

A total of 5 topics and 27 sub-topics were identified and the major theme is market intelligence. Sentiment variables were investigated not only as independent but also as dependent variables. The customer rating is the most investigated dependent variable, whereas moderators and mediators were rarely tested. Most reviewed studies did not use theory. The findings from the methodological review show that analysis of big data was rare. Moreover, testing the performance of sentiment analyzes was uncommon, and only one paper tested the performance of aspect/feature extraction.

Research limitations/implications

This study extends prior review studies by providing a comprehensive view of how knowledge and methodologies of sentiment analysis have developed. The identified themes and key constructs serve as a solid base for future knowledge advancement. Future research directions on sentiment analysis are also provided.

Originality/value

To the best of the authors’ knowledge, this study is the first comprehensive methodological and thematic review of sentiment analysis in hospitality and tourism. Based on the identified findings, the authors propose several directions for future research.

Details

International Journal of Contemporary Hospitality Management, vol. 34 no. 1
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 18 December 2024

Nurhayati Khair, Ainoriza Mohd Aini and Zafirah Al Sadat Zyed

This study aims to identify the significant exit barriers encountered by tenants in public rental housing and analyze the moderating effects of sociodemographic factors on…

22

Abstract

Purpose

This study aims to identify the significant exit barriers encountered by tenants in public rental housing and analyze the moderating effects of sociodemographic factors on tenants’ decisions to leave public rental housing.

Design/methodology/approach

This study applied a quantitative methodology. Questionnaire survey was used as its main instrument for data collection. Responses were gathered from 328 tenants in the Program Perumahan Rakyat (PPR) through stratified random sampling. Data were analyzed using structural equation modeling partial least square (SEM-PLS).

Findings

The findings reveal that housing availability and the exit programs by DBKL are the most significant factors influencing exit barriers. Tenant income also impacts their decision to remain, as available housing often does not match their income levels. Policymakers and relevant agencies should collaborate to help tenants increase their income, facilitating their transition out of public rental housing.

Research limitations/implications

This study is limited to the factors influencing the tenant from exiting PRH. Furthermore, the study specifically targeted those who rent public housing under DBKL administration may neglect the perspectives of other stakeholders, such as DBKL management, property owners and policymakers. Therefore, the findings are insufficient in representing tenants other than those under the DBKL’s administration. While the causes may be similar, the opinions and consequences would vary among other tenants depending on their socio-demographic profiles.

Practical implications

This research offers a more comprehensive understanding of the exit barriers tenants’ encounter in PRH. The results gained from this study will assist policymakers in developing a more comprehensive initiative that will assist tenants in exiting PRH. DBKL can effectively engage PRH tenants to provide a strategic departure mechanism for better solutions. Furthermore, DBKL can offer aid in locating cheap housing options for tenants who may have limited access to information on the availability of such homes.

Social implications

This discovery will also be advantageous for prospective tenants who have been on the waiting list for several years, eagerly awaiting the vacancy of units previously occupied by other tenants. Furthermore, residents who successfully vacate public rental housing (PRH) will need to be considered for incentives to promote the success of the housing pathway. This will lead to the attainment of the equitable allocation that has been identified as the primary concern of PRH.

Originality/value

This study seeks to clarify the exit barriers encountered by tenants in PRH and identifies the significant factors contributing to the low turnover rate of tenants. The study is relevant for DBKL and policymakers in promoting the success of housing pathways to ensure fairness and efficiency in the principles of public housing.

Details

International Journal of Housing Markets and Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8270

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Article
Publication date: 10 June 2024

Shafiu Ibrahim Ibrahim Abdullahi

The purpose of this paper is to measure the effects of religiosity and advertising on consumers’ patronage of halal industry in Nigeria.

78

Abstract

Purpose

The purpose of this paper is to measure the effects of religiosity and advertising on consumers’ patronage of halal industry in Nigeria.

Design/methodology/approach

Data for the study was collected using questionnaire survey. The collected data was analyzed using Tobit and ordered Logit models.

Findings

The findings of the work show that while the coefficient of religiosity is positive, but it is statistically insignificant, while advertising has a moderate negative effect on consumers’ patronage of halal business in Nigeria.

Practical implications

The study has implication on the use of advertising by halal business. It shows the limit of using advertisement to build brand; advertising shall be used together with other measures such as corporate social responsibility and other charitable undertakings.

Originality/value

To the best of the author’s knowledge, this work is the first of its kind that empirically tests the effect of advertising on patronage of halal business.

Details

Journal of Islamic Marketing, vol. 15 no. 12
Type: Research Article
ISSN: 1759-0833

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