Farrukh Naveed, Idrees Khawaja and Lubna Maroof
This study aims to comparatively analyze the systematic, idiosyncratic and downside risk exposure of both Islamic and conventional funds in Pakistan to see which of the funds has…
Abstract
Purpose
This study aims to comparatively analyze the systematic, idiosyncratic and downside risk exposure of both Islamic and conventional funds in Pakistan to see which of the funds has higher risk exposure.
Design/methodology/approach
The study analyzes different types of risks involved in both Islamic and conventional funds for the period from 2009 to 2016 by using different risk measures. For systematic and idiosyncratic risk single factor CAPM and multifactor models such as Fama French three factors model and Carhart four factors model are used. For downside risk analysis different measures such as downside beta, relative beta, value at risk and expected short fall are used.
Findings
The study finds that Islamic funds have lower risk exposure (including total, systematic, idiosyncratic and downside risk) compared with their conventional counterparts in most of the sample years, and hence, making them appear more attractive for investment especially for Sharīʿah-compliant investors preferring low risk preferences.
Practical implications
As this study shows, Islamic mutual funds exhibit lower risk exposure than their conventional counterparts so investors with lower risk preferences can invest in these kinds of funds. In this way, this research provides the input to the individual investors (especially Sharīʿah-compliant investors who want to avoid interest based investment) to help them with their investment decisions as they can make a more diversified portfolio by considering Islamic funds as a mean for reducing the risk exposure.
Originality/value
To the best of the author’s knowledge, this study is the first attempt at world level in looking at the comparative risk analysis of various types of the risks as follows: systematic, idiosyncratic and downside risk, for both Islamic and conventional funds, and thus, provides significant contribution in the literature of mutual funds.
Details
Keywords
The purpose of this study is to examine the relationship between perception of training, organizational commitment and organizational citizenship behavior. Moreover, the study…
Abstract
Purpose
The purpose of this study is to examine the relationship between perception of training, organizational commitment and organizational citizenship behavior. Moreover, the study examines the moderating role of power distance on the relationship between perception of training and organizational commitment.
Design/methodology/approach
Using stratified sampling technique, the data were obtained from 379 employees working at branches of public and private banks located in five metropolitan cities in Pakistan. To test the established hypotheses, structural equation modeling technique was adopted using Analysis of Moment Structures (AMOS) 21.0.
Findings
The findings stated a significant relationship between perception of training and organizational citizenship behavior, but there was no relationship found between perception of training and organizational commitment. Moreover, organizational commitment partly mediated the relationship between perception of training and organizational citizenship behavior. The results also described that power distance moderates the relationship between perception of training and organizational commitment.
Practical implications
The results of the study can be beneficial for banking sector and strategy makers who have extended vision and anticipate organizational citizenship behavior from their employees. The study also offers the scope and space for the prospective researchers and scholars to carry out further research.
Originality/value
There is extensive literature available on the relationship between perception of training, organizational commitment and organizational citizenship behavior. However, it is observed that very few studies took the opportunity to examine the moderating role of power distance on the relationship between perception of training and organizational commitment, particularly in the context of Pakistan. Therefore, this study can be considered as original and have a great value in understanding the developed relationships in the scenario of Pakistan.
Details
Keywords
Neha Singh, Rajeshwari Panigrahi, Rashmi Ranjan Panigrahi and Jamini Ranjan Meher
Blockchain technology can potentially address the challenges of information storage, sharing and management and improve them further in an organization and sector as a whole. This…
Abstract
Purpose
Blockchain technology can potentially address the challenges of information storage, sharing and management and improve them further in an organization and sector as a whole. This study aims to investigate the effects of technology, organization and environment on the behavioral intention of employees to adopt blockchain in the Indian insurance sector and the mediating role of knowledge management practices.
Design/methodology/approach
A structured questionnaire was used to collect a sample size of 390 responses based on convenience sampling. Partial least square structural equation modeling was used to analyze the data.
Findings
The findings highlighted that organizational factors, followed by technological factors, significantly impact employees' behavioral intentions. The results established that the impact of environmental factors is insignificant on blockchain adoption intention. Knowledge management practices significantly mediate the relationship between organizational factors, technological factors and behavioral intention.
Practical implications
The results indicate that organizations must prioritize organizational factors (technological competence, top management support and financial readiness) and knowledge management practices (knowledge creation, sharing and retention) to positively impact employees' behavioral intentions and ensure successful and effective technology adoption.
Originality/value
Using the Technology-Organization-Environment framework, the study tests the conceptual model, showing the relationship between technological, organizational and environmental factors, behavioral intention and knowledge management practices. The role of knowledge management practices in technology adoption within organizations has been scarcely explored. This study adds significant and novel contributions in this area.
Details
Keywords
Asma Javed, Qian Li, Sarmad Ejaz, Abdul Basit, Shermeen Hasan, Fodor Zita Júlia and Md Billal Hossain
Due to extensive industrial activities, the manufacturing sector is deteriorating the environment through resource depletion and rising pollution levels which led to a significant…
Abstract
Purpose
Due to extensive industrial activities, the manufacturing sector is deteriorating the environment through resource depletion and rising pollution levels which led to a significant transition toward green supply chain practices (GSCP). Therefore, internal and external GSCP and green training (GT) gaining momentous attention. This study aims to explore the interconnections among the internal and external GSCP, GT, green innovation (GI), pro-environmental behavior (PEB), competitive advantage (CA), green knowledge sharing (GKS), green self-efficacy (GSE), environmental and financial performance (EP) and (FP).
Design/methodology/approach
To check the hypothesized model, researchers used cross-sectional data based on survey questionnaires which were gathered from Pakistani manufacturing firms. The theoretical framework was validated through the utilization of partial least square structural equation modeling.
Findings
The findings suggest that internal and external GSCP and GT are correlated with GI, PEB, CA, EP and FP. Additionally, this study discovers that PEB and GI act as intermediaries among internal and external GSCP, GT and CA. GKS positively moderates the connection among internal and external GSCP, and GT, GI, and PEB. Similarly, GSE also serves as a moderator among between PEB and GI.
Research limitations/implications
This study is a significant contribution to the literature by studying potential mediators and moderators that improve the association among outlined constructs. Moreover, findings suggest that firms should adopt an integrated and holistic green approach to combat environmental deterioration, maintain environmental integrity and attain sustainable development.
Originality/value
There is a scarcity of studies concerning the holistic framework of interrelated constructs studied in this research and it is the pioneer research to offer insights with an innovative model and empirical evidence.
Details
Keywords
Masyhuri Masyhuri, Siswanto Siswanto and Desi Tri Kurniawati
This study aimed to examine the role of green human resource management on environmental performance at Islamic universities, with the mediating effect of green cultural festivals…
Abstract
Purpose
This study aimed to examine the role of green human resource management on environmental performance at Islamic universities, with the mediating effect of green cultural festivals and the moderating role of individual green values.
Design/methodology/approach
The research employed random sampling techniques by selecting a sample of 192 students from various Islamic universities in Indonesia. The participants were selected through an online survey. In addition, data analysis was done using the structural equation modelling-partial least squares (SEM-PLS) technique with the SmartPLS 3.0.
Findings
Implementing green human resource management has become a crucial factor in enhancing the environmental performance of Islamic universities. Moreover, green cultural festivals function as an intermediary variable. At the same time, individual green values exhibit a moderating variable that can enhance the influence between green human resource management and environmental performance.
Practical implications
Implementing an effective green human resource management strategy enhances environmental performance. Green human resource management has assisted universities in creating a generation of graduates with a solid commitment to ecological sustainability and raised awareness of the significance of conserving the environment. As a result, this commitment equips students to become agents of change in society upon graduation. Furthermore, campuses need to integrate environmental curriculum components into all study programs, as students need to understand the significant impact of environmental stewardship from both Islamic and scientific perspectives.
Originality/value
This research provides a novel perspective on how Islamic universities are exceptionally well-equipped to create environmental awareness and values that students can practically apply post-graduation using green cultural festivals, which are regularly held. This study is the first to introduce the concept of green cultural festivals in universities utilising the basis of combining green culture with cultural festivals with the theoretical background of resource-based theory.