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Publication date: 13 May 2024

Mohamed Ismail Mohamed Riyath, Narayanage Jayantha Dewasiri, Mohamed Abdul Majeed Mohamed Siraju, Athambawa Jahfer and Kiran Sood

Purpose: This study investigates internal/own shock in the domestic market and three external volatility spillovers from India, the UK, and the USA to the Sri Lanka stock market…

Abstract

Purpose: This study investigates internal/own shock in the domestic market and three external volatility spillovers from India, the UK, and the USA to the Sri Lanka stock market.

Need for the Study: The external market’s internal/own shocks and volatility spillovers influence portfolio choices in domestic stock market returns. Hence, it is required to investigate the internal shock in the domestic market and the external volatility spillovers from other countries.

Methodology: This study employs a quantitative method using ARMA(1,1)-GARCH(1,1) model. All Share Price Index (ASPI) is the proxy for the Colombo Stock Exchange (CSE) stock return. It uses daily time-series data from 1st April 2010 to 21st June 2023.

Findings: The findings revealed that internal/own and external shocks substantially impact the stock price volatility in CSE. Significant volatility clusters and persistence with extended memory in ASPI confirm internal/own shock in the market. Furthermore, CSE receives significant volatility shock from the USA, confirming external shock. This study’s findings highlight the importance of considering internal and external shocks in portfolio decision-making.

Practical Implications: Understanding the influence of internal shocks helps investors manage their portfolios and adapt to market volatility. Recognising significant volatility spillovers from external markets, especially the USA, informs diversification strategies. From a policy standpoint, the study emphasises the need for robust regulations and risk management measures to address shocks in domestic and global markets. This study adds value to the literature by assessing the sources of volatility shocks in the CSE, employing the ARMA-GARCH, a sophisticated econometrics model, to capture stock returns volatility, enhancing understanding of the CSE’s volatility dynamics.

Details

VUCA and Other Analytics in Business Resilience, Part A
Type: Book
ISBN: 978-1-83753-902-4

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Article
Publication date: 26 June 2007

Liying Zhang, Xiaoming Li and Iqbal H. Shah

Sex education in China has been promoted for many years, but limited data are available regarding the sources from which adolescents receive sex‐related knowledge. The present…

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Abstract

Purpose

Sex education in China has been promoted for many years, but limited data are available regarding the sources from which adolescents receive sex‐related knowledge. The present study was designed to examine the sources from which Chinese adolescents obtain their information on puberty, sexuality and STI/HIV/AIDS, and whether there are any differences in sources of sex knowledge according to adolescents' demographic characteristics and sexual status.

Design/methodology/approach

The data were collected in 2001 in Changchun City, China. Unmarried adolescents 15‐19 years of age (322 males and 360 females) were included in a cross‐sectional survey using self‐administered questionnaires.

Findings

Schoolteachers and mass media were identified as the two most important sources of sex knowledge. Sources of sex knowledge among adolescents on various topics (puberty, sexuality, and STI/HIV/AIDS) differed by the level of taboo associated with these topics in Chinese culture. The percentage of adolescents obtaining knowledge for puberty, sexuality, and STI/HIV/AIDS from teachers declined by topic (45.4, 30.7 and 18.4 percent, respectively), while the percentage of adolescents obtaining knowledge from television/movie increased by topic (6.7, 12.2 and 27.5 percent, respectively). Adolescents obtained knowledge on topics with less taboo (e.g. puberty) from teachers and obtained knowledge on topics with more taboo (e.g. sexuality, STI/HIV/AIDS) from mass media. However, this differs by having been sexually experienced or not. Parents were the primary source for sex knowledge on less taboo subjects. Doctors were the primary source for STI/HIV/AIDS knowledge. Sexually active adolescents obtained sex knowledge mainly from peers or mass media, while those adolescents who were not sexually experienced identified teachers and parents as the main sources of sex knowledge.

Originality/value

The current study illustrates that it is necessary to improve and enhance current sex education programs in China by recognizing and strengthening the role of parents, teachers, and health care professionals in adolescent sex education.

Details

Health Education, vol. 107 no. 4
Type: Research Article
ISSN: 0965-4283

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Article
Publication date: 14 October 2019

Muhammad Hanif, Abdullah Iqbal and Zulfiqar Shah

This study aims to understand and document the impact of market-based – market returns and momentum – as well as firm-specific – size, book-to-market (B/M) ratio…

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Abstract

Purpose

This study aims to understand and document the impact of market-based – market returns and momentum – as well as firm-specific – size, book-to-market (B/M) ratio, price-to-earnings ratio (PER) and cash flow (CF) – factors on pricing of Shari’ah-compliant securities as explanation of variations in stock returns in an emerging market – Pakistan’s Karachi Stock Exchange.

Design/methodology/approach

Initially, the authors test Fama and French (FF) three-factor model – market risk premium, size and B/M – followed by modified FF model by including additional risk factors (PER, CF and momentum) over a 10-year period (2001-2010).

Findings

Our results support superiority of FF three-factor model over single-factor capital asset pricing model. However, addition of further risk factors – including PER, CF and momentum – improves explanatory power of the model, as well as refines the selection of risk factors. In this study, CF, B/M and momentum factors remain insignificant. Traditional B/M factor in FF model is replaced by PER.

Practical implications

Based on the modified FF model, the authors propose a stock valuation model for Shari’ah-compliant securities consisting of three factors: market returns, size and earnings, which explains 76per cent variations in cross sectional stock returns.

Originality/value

To the best of the authors’ knowledge, this is the first study (which combines market-based as well as fundamental factors) on pricing of Islamic securities and identification of risk factors in an emerging market – Karachi Stock Exchange.

Details

Journal of Islamic Accounting and Business Research, vol. 10 no. 5
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 28 April 2023

Syed Alamdar Ali Shah, Bayu Arie Fianto, Asad Ejaz Sheikh, Raditya Sukmana, Umar Nawaz Kayani and Abdul Rahim Bin Ridzuan

The purpose of this study aims to examine the effect of fintech on pre- and post-financing credit risks faced by the Islamic banks.

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Abstract

Purpose

The purpose of this study aims to examine the effect of fintech on pre- and post-financing credit risks faced by the Islamic banks.

Design/methodology/approach

This research uses primary data for fintech awareness and adoption and secondary data of various financial and economic variables from 2009 to 2021. It uses baseline regression to identify moderation of fintech controlling gross domestic products, size, return on assets and leverage. The findings are confirmed using robustness against key variable bias. It also uses a dynamic panel two-stage generalized method of moments for endogeneity.

Findings

The study finds that the fintech awareness and adoption are not the same across all Islamic countries. The Asia Pacific region is far ahead of the other two regions where Indonesia is ahead in terms of fintech awareness and adoption, and Malaysia is ahead in terms of reaping its benefits in credit risk management. Fintech affects prefinancing credit risk significantly more than postfinancing credit risk. Also, the study finds that Islamic banks suffer from the problem of “Adverse selection under Shariah compliance.”

Practical implications

This research invites regulators to introduce fintech in Islamic banks on war footing. Similar studies can be conducted on the role of other risks such as operational and market risks. Fintech will also help in improving the risk profile and stability of Islamic banks against systemic risks and financial crises.

Originality/value

This research has variety of originalities. First, it is the pioneering study that addresses the effect of fintech pre- and post-financing credit risks in Islamic banks. Second, it identifies “Adverse selection under Shariah compliance” for Islamic banks. Third, it helps identify how fintech can be useful in reducing credit risk that will help in reducing capital charge for regulatory capital.

Details

Journal of Science and Technology Policy Management, vol. 14 no. 6
Type: Research Article
ISSN: 2053-4620

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Article
Publication date: 28 June 2024

Nisar Gul, Haibo Chen, Javed Iqbal and Rasool Shah

This work presents a new two-step iterative technique for solving absolute value equations. The developed technique is valuable and effective for solving the absolute value…

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Abstract

Purpose

This work presents a new two-step iterative technique for solving absolute value equations. The developed technique is valuable and effective for solving the absolute value equation. Various examples are given to demonstrate the accuracy and efficacy of the suggested technique.

Design/methodology/approach

In this paper, we present a new two-step iterative technique for solving absolute value equations. This technique is very straightforward, and due to the simplicity of this approach, it can be used to solve large systems with great effectiveness. Moreover, under certain assumptions, we examine the convergence of the proposed method using various theorems. Numerical outcomes are conducted to present the feasibility of the proposed technique.

Findings

This paper gives numerical experiments on how to solve a system of absolute value equations.

Originality/value

Nowadays, two-step approaches are very popular for solving equations (1). For solving AVEs, Liu in Shams (2021), Ning and Zhou (2015) demonstrated two-step iterative approaches. Moosaei et al. (2015) introduced a novel approach that utilizes a generalized Newton’s approach and Simpson’s rule to solve AVEs. Zainali and Lotfi (2018) presented a two-step Newton technique for AVEs that converges linearly. Feng and Liu (2016) have proposed minimization approaches for AVEs and presented their convergence under specific circumstances. Khan et al. (2023), suggested a nonlinear CSCS-like technique and a Picard-CSCS approach. Based on the benefits and drawbacks of the previously mentioned methods, we will provide a two-step iterative approach to efficiently solve equation (1). The numerical results show that our proposed technique converges rapidly and provides a more accurate solution.

Details

Engineering Computations, vol. 41 no. 5
Type: Research Article
ISSN: 0264-4401

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Article
Publication date: 1 November 2021

Qadar Bakhsh Baloch, Sourath Maher, Nadeem Iqbal, Syed Naseeb Shah, Muhammad Sheeraz, Faryal Raheem and Kanwal Iqbal Khan

Therefore, this research study investigates the impact of business environment on the performance of the business organizations. (1) To understand the importance the environment…

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Abstract

Purpose

Therefore, this research study investigates the impact of business environment on the performance of the business organizations. (1) To understand the importance the environment in the success of the business entrepreneurship. (2) To explore the environmental factors that can affect the success of business entrepreneurship in Pakistan. (3) To establish relationship between the environmental factors and the sustained organizational performance of business entrepreneurships in Pakistan.

Design/methodology/approach

Drawing from the person–environment fit (PE fit) and the self-determination theory literature, this survey research study seeks to determine the impact of organizational environment upon sustained organizational economic performance. The main independent variable of the study encompasses its main three dimensions, i.e. leadership capacity, organizational culture and organizational politics. The dependent variable comprises the sustained economic performance of the organization. The research study hypothesized and tested a model in which the organizational environment (organizational culture, organizational politics and leadership) interplays with the organizational sustained performance.

Findings

Keeping in view the outcomes of this research work the following implications can be drawn. A leader can yield maximum productivity of employees, if he/she has leadership capacity to provide directions, skilled to minimize the stress level of the employees and able to motivate them in achieving organizational goals. Therefore, capacity of leader to handle difficult situations and develop PE fit is the key to organizational success in current scenario. The study also revealed a positive effect of organizational culture on organizational performance. The culture of the organizations provides an environment of openness to think, share and contribute toward goals of the organization. It enables employees to express themselves, develop person-organization common goals with self-determination. The PE fit provides a platform to feel free, express their feelings and opinions, and contribute in the decision-making process of organizations. The involvement in organizational activities provide a sense of responsibility, ownership and motivation to produce better results for the organizations.

Originality/value

PE fit perspective postulates that matching individual psychological needs and environmental supplies (provided by organization and society) generates positive attitudes and behaviors (Tepper et al., 2018). The effect between individuals and their environment is inherently reciprocal rather than a one-way effect (Goetz et al., 2021). The fundamental postulation support that the fit certainly improves performance, commitment and satisfaction of individuals in the context of organizations (De Cooman et al., 2019; Rau vola et al., 2020). Moreover, self-determination theory (SDT) is another perspective that emphasizes the attainment of autonomy, competence and relatedness in employees to outperform (Deci and Ryan, (2010). The self-determination theory revolves around the social-contextual conditions that support or obstruct the integral courses of self-motivation and psychological development, which will contribute toward organizational performance (Nazir et al., 2021).

Details

Business Process Management Journal, vol. 28 no. 1
Type: Research Article
ISSN: 1463-7154

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Book part
Publication date: 14 December 2023

Abdul Samad, Salman Bashir and Sumaiya Syed

Growing environmental challenge awareness among consumers is today's business reality that pushes for sustainable product development. Governments, industries, and consumers'…

Abstract

Growing environmental challenge awareness among consumers is today's business reality that pushes for sustainable product development. Governments, industries, and consumers' attention are significantly moved from traditional products to eco-friendly product development. Green product development is the future for manufacturing businesses' survival in most markets. Green product development is an emerging phenomenon and, unfortunately, lacks theoretical and empirical research regarding effective organizational policies and practices for green product development. This study aims at filling research gaps towards green product development by highlighting green employee aspects influenced by leadership for sustainable business growth. The study hypothesized relations between the green effect of transformational leadership on green product development as an outcome through green behaviour, green climate, and green innovative creativity. Data was collected from small and medium enterprises (SMEs) of Karachi through a self-administered survey questionnaire. Results revealed significant support for hypothesized relations through the partial least square statistical tool. This study contributes theoretical and empirical advancement in past literature wherein leadership style influences employee behaviour that leads to predict product development from an environmental perspective. Study inferences suggest for visionary green leadership style for sustainable business growth. Limitations of this study regarding other variable inclusiveness, sampling, and geography are potential extensions for further scholarly investigation.

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Article
Publication date: 27 June 2023

Raja Ahmed Jamil, Syed Rameez ul Hassan, Tariq Iqbal Khan, Rahman Shah and Sanaullah Nazir

This study aims to investigate the influence of personality characteristics (risk-aversion and self-consciousness) on skepticism toward online services information (STOSI)…

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Abstract

Purpose

This study aims to investigate the influence of personality characteristics (risk-aversion and self-consciousness) on skepticism toward online services information (STOSI), consumer stress and health.

Design/methodology/approach

A between-subjects experiment (n = 228) was designed to compare effects based on third-party organization endorsement (TPO endorsed vs nonendorsed).

Findings

Results revealed that personality characteristics positively influenced STOSI, which in turn escalated consumer stress. Furthermore, consumer stress predicted detrimental effects on consumer health (increased blood pressure and heartbeat). Regarding TPO endorsements, both the risk-aversive and self-conscious consumers showed lesser STOSI when exposed to TPO-endorsed ads compared with nonendorsed ads.

Originality/value

This study is one of the first to examine the effects of consumer personality on consumer health through STOSI and consumer stress. In addition, the remedial roles of TPO in coping with STOSI and consumer stress also accumulate to the novelty of this study.

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Article
Publication date: 9 April 2020

Meriem Khalfallah and Lassaad Lakhal

This empirical study aims to explore the link between lean manufacturing practices (total quality management, just-in-time production, just-in-time purchasing, total…

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Abstract

Purpose

This empirical study aims to explore the link between lean manufacturing practices (total quality management, just-in-time production, just-in-time purchasing, total productive/preventive maintenance), agile manufacturing, and operational and financial performance.

Design/methodology/approach

Data were collected from 205 Tunisian manufacturing firms, and the results were analyzed using structural equation modeling.

Findings

The results indicate that (1) lean manufacturing practices have a direct positive relationship with agile manufacturing except for just-in-time production, (2) agile manufacturing has a positive impact on operational performance and (3) lean manufacturing practices did not seem to contribute directly to operational performance. However, this relationship is significant when it is mediated through agile manufacturing.

Research limitations/implications

This paper shows practitioners the importance of lean manufacturing practices to support agile manufacturing and the key role of agile manufacturing to ensure operational performance.

Originality/value

This paper presents an innovative approach since it studies simultaneously the three dimensions of lean manufacturing and their relationship with agile manufacturing and organizational performance.

Details

International Journal of Quality & Reliability Management, vol. 38 no. 1
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 7 March 2023

Muhammad Haroon Shoukat, Syed Asim Shah and Dilnaz Muneeb

This study aims to examine the role of shared leadership (SL) practices in improving team performance (TP) in health-care producer organizations by mediating the roles of…

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Abstract

Purpose

This study aims to examine the role of shared leadership (SL) practices in improving team performance (TP) in health-care producer organizations by mediating the roles of intellectual capital (IC) and team learning (TL).

Design/methodology/approach

Conceptual model was proposed using social learning theory and resource-based view theory. The structured questionnaire was administered to respondents of Pakistani health-care producer organizations using a cross-sectional approach. Data was collected from 23 team leaders and 203 team members from 23 different teams. PLS-structural equation modeling was applied to SmartPLS 3.2.9.

Findings

The findings revealed that SL and IC are positively associated with TP, while TL has no association with TP. Further, SL is positively associated with IC and TL. This study also found that IC significantly mediates between SL and TP. Still, no mediating role of TL between SL and TP was found.

Practical implications

The findings suggest health-care producer organizations adopt shared leader practices where team members are given a say in decision-making to boost their morale, leading to effective TP.

Originality/value

The conceptual model was created using social learning and resource-based view theories. This is an early attempt to examine the role of SL in health-care producer organizations.

Details

The Learning Organization, vol. 30 no. 4
Type: Research Article
ISSN: 0969-6474

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