Umm E. Habiba, Shen Peilong, Wenlong Zhang and Kashif Hamid
The purpose of this paper is to investigate the cointegration and volatility spillover dynamics between the USA and South Asian stock markets, namely, India, Pakistan and Sri…
Abstract
Purpose
The purpose of this paper is to investigate the cointegration and volatility spillover dynamics between the USA and South Asian stock markets, namely, India, Pakistan and Sri Lanka. The main objective of this study is to provide the knowledge about integration of financial market and volatility spillovers before, during and after global financial crisis to investors, fund managers and policy-makers.
Design/methodology/approach
The Johansen and Juselius cointegration test, Granger Causality test and bivaraite EGARCH model have been applied in this study to examine integration and volatility spillovers between selected stock markets.
Findings
The findings show that long-term integration between the USA market and South Asian emerging stock markets. It is found that USA stock market has causal relationship with emerging stock markets in short-term. The findings of EGARCH model reveal that asymmetric volatility spillover effects significant in all selected stock markets in pre, during and post-crisis periods. Furthermore, significant volatility spillover is found from stock markets of USA to all selected South Asian markets during and post-crisis periods. However, volatility spillovers from USA to India and Sri-Lanka markets are significant, while insignificant in case of Pakistani market in pre-crisis period. Overall, we find that returns and volatility spillover effects are higher in financial crisis period as compared to non-financial crisis period.
Practical implications
The findings of this paper have important implications for investors, portfolio managers and policy-makers. They can take potential benefits from international portfolio diversification by considering all these facts. The understanding and knowledge of across volatility transmission help them to maximize the gains from diversification and minimize the risk. Policy-makers can develop such strategies which protect the markets of these economies from future financial crisis.
Originality/value
Although in finance literature numerous studies have been conducted on integration between different stock markets, most of the studies investigated the integration and volatility spillovers between developed stock markets. However, many studies also analyzed the integration among emerging stock markets in literature review but it is hard to find studies in the context of South Asian stock markets on the effect of global financial crisis on stock markets. The main contribution of this study is to investigate the stock markets integration and volatility transmission between the USA and South Asia by considering the effect of recent 2007 US subprime financial crisis.
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S. Mostafa Rasoolimanesh, Mohmmad Iranmanesh, Muslim Amin, Kashif Hussain, Mastura Jaafar and Hamid Ataeishad
This study aims to examine the interrelationships between the dimensions of perceived value, including functional, emotional and social values. The mediating role of emotional…
Abstract
Purpose
This study aims to examine the interrelationships between the dimensions of perceived value, including functional, emotional and social values. The mediating role of emotional value between functional and social values and satisfaction have been hypothesized and tested. In addition, this study examines the moderating role of social value for the effect of emotional value on satisfaction.
Design/methodology/approach
Data for this study were collected from guests staying at two traditional guesthouses in Kashan, Iran. The authors applied partial least squares structural equation modeling to analyze 316 questionnaires completed by participants and for hypotheses testing.
Findings
The authors found positive and direct effects of all dimensions of perceived value on satisfaction. Moreover, the results indicated positive and significant indirect effects for functional and social values on satisfaction through emotional value. The findings demonstrated positive and strong effects of functional and social values on emotional value. The results do not support a moderating role for social value on the relationship between emotional value and satisfaction. In addition, the findings showed a strong and positive effect for satisfaction on revisit intentions.
Originality/value
This study makes a unique theoretical contribution to the perceived value literature by investigating the interrelationships between dimensions of perceived value. Moreover, this study explores several practical implications of these findings.
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Muhammad Hamid Shahbaz, Muhammad Kashif Durrani and Shahbaz Sharif
This study aims to explore the connections between intellectual capital and academic performance in Lahore, Pakistan’s higher education institutions (HEIs). The research delves…
Abstract
Purpose
This study aims to explore the connections between intellectual capital and academic performance in Lahore, Pakistan’s higher education institutions (HEIs). The research delves into the mediation effect of dynamic capabilities, such as acquisition and exploitation, between intellectual capital and innovation within these educational institutions.
Design/methodology/approach
Grounded in the insights from a comprehensive literature review, the methodology uses a pre-tested questionnaire. Faculty members from private universities in Pakistan were chosen as the study's unit of analysis. Using a convenience sampling technique, data was gathered from 342 teachers and then analyzed using Smart (PLS) 3.3.3.
Findings
The results demonstrate that intellectual capital positively affects innovation. Acquisition and exploitation further mediate this influence, improving academic performance. Applying the knowledge-based view theory, the study confirmed the significance of all the posited hypotheses, underlining the positive interrelationships within Pakistan’s academic institutions.
Originality/value
The novelty of this research lies in its specific focus on the HEIs in Pakistan, demonstrating how intellectual capital and dynamic capabilities foster innovation, thereby enabling these institutions to maintain a competitive edge in a rapidly evolving educational landscape.
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Shahbaz Sharif, Omaima Munawar Albadry, Muhammad Kashif Durrani and Muhammad Hamid Shahbaz
Employees are driven and motivated to exercise knowledge-based resources as a result of leadership. Therefore, this study aims to examine the effect of authentic leadership on…
Abstract
Purpose
Employees are driven and motivated to exercise knowledge-based resources as a result of leadership. Therefore, this study aims to examine the effect of authentic leadership on organizational commitment and tacit and explicit knowledge-sharing behaviors in Saudi non-profit organizations (NPOs). The study also aims to explore authentic leadership’s direct and indirect impact on tacit and explicit knowledge-sharing behaviors via organizational commitment.
Design/methodology/approach
The study used a quantitative research design by distributing a survey questionnaire among 415 employees. A total of 300 responses were collected during the survey questionnaire data collection.
Findings
The results showed that authentic leadership significantly and positively influenced organizational commitment and tacit and explicit knowledge sharing. Additionally, organizational commitment significantly and positively mediated the relationship between authentic leadership and tacit knowledge sharing, and there was partial mediation. However, organizational commitment failed to mediate the relationship between authentic leadership and explicit knowledge sharing.
Practical implications
The management of Saudi NPOs should focus on developing knowledge capital resources for employees who work in an organization to get a competitive advantage.
Originality/value
The study made a novel contribution that the Saudi NPOs should promote tacit and explicit knowledge-sharing but focus more on explicit knowledge sharing.
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Samiha Siddiqui, , Sehar Nafees and Sheeba Hamid
India's Muslim women (MW) face significant underrepresentation within the government and commercial sectors, rendering them virtually invisible in the job market. This…
Abstract
Purpose
India's Muslim women (MW) face significant underrepresentation within the government and commercial sectors, rendering them virtually invisible in the job market. This underrepresentation is compounded by the double stigma of being both Muslim and female. As a result, this study aims to address this critical issue by looking into MW's intention to work in the industry of tourism and hospitality (T&H).
Design/methodology/approach
A survey was conducted online to gather data and 404 of the responses met the requirements for selection. The research model was empirically assessed by applying structural equation modelling. The data collection phase spanned from August 11, 2023, to November 10, 2023.
Findings
The study's findings demonstrate the effectiveness of the extended theory of planned behaviour in providing a robust model for analysing MW's intentions to participate in the T&H industry.
Research limitations/implications
This research discloses inclusive policies, reduces discrimination, empowers women in the workforce, improves educational opportunities, promotes cultural sensitivity and fosters inclusive leadership in the T&H industry, focusing on MW career intentions, to achieve Sustainable Development Goal 5 (gender equality).
Originality/value
The importance of this study is contingent upon its ability to inform policymakers in academia and the T&H sector. By recognising and addressing the barriers faced by MW, it has the potential to foster a workplace environment that promotes equality and eliminates discrimination, ultimately improving the image of the T&H industry and harnessing the untapped potential of these women in India.
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Vikneswaran Nair and Amran Hamzah
The purpose of this paper is to provide a better understanding of the long-term viability of community-based tourism (CBT) as a development tool in rural tourism, and how the best…
Abstract
Purpose
The purpose of this paper is to provide a better understanding of the long-term viability of community-based tourism (CBT) as a development tool in rural tourism, and how the best practice from the Asia Pacific region can be used to strategize the nine-stage plan to develop and sustain it in the long term.
Design/methodology/approach
This paper is formulated using a case study approach based on the lessons learned and the best practices in ten member economies of the Asia Pacific Economic Cooperation (APEC) Forum, namely, Australia, Canada, China, Chinese Taipei, Indonesia, Korea, Malaysia, New Zealand, the Philippines and Vietnam.
Findings
Based on the analyses of the ten case studies, the paper recommends nine steps for developing and sustaining CBT. These nine steps are divided into two sections – developing CBT and sustaining CBT. The first four steps relate to starting and developing CBT initiatives, which are useful for projects and sites that are embarking on CBT. The subsequent five steps are meant to address the sustainability of CBT projects, which are more appropriate for mature CBT projects that are gradually moving up the value chain. The nine steps are presented in detail and supported by the models developed from the case studies. For each step, a list of actions is recommended to guide the development of CBT.
Research limitations/implications
This paper is limited by the ten case studies selected by the researcher. The conditions for these selected case studies may not be identical in other locations, and thus, the proposed nine-step framework can be used only as a guide. Each step outlined may vary from one nation to another.
Originality/value
The main output of this paper is designed to provide guidance for tourism/rural planners, non-government organizations (NGOs), industry players and CBT organizations in deciding whether tourism could work for a particular community and if it is feasible to be sustained over the long term.
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Ahsan Kamal and Muhammad Kashif
Over the years, shrines have been ignored as a destination by islamic marketing scholars. However, shrines can be classified as Islamic spiritual destinations which are visited by…
Abstract
Purpose
Over the years, shrines have been ignored as a destination by islamic marketing scholars. However, shrines can be classified as Islamic spiritual destinations which are visited by people to serve various purposes. Moreover, in the country context of Pakistan with its beautiful cultural traditions and the religiousness among people, the visit to a shrine as a destination experience is scantly examined. This study fills this void and aims at exploring Muslim tourists' spiritual experiences of visiting shrines as Islamic spiritual destinations.
Design/methodology/approach
An interpretive qualitative inquiry is used based on phenomenology as the leading methodology for this exploration. Following a purposive sampling technique, researchers interviewed 10 informants who regularly visit shrines. The collected data are analyzed based on thematic analysis.
Findings
The results of a thematic analysis reveal six themes that emerged from tourists' experiences of Islamic spiritual destinations. These include: religious and spiritual values, spiritual belief system, commercial experience, hospitality and support experience, socialization experience and obstruction experience.
Practical implications
The findings of this study can be used by policymakers managing Islamic tourist destinations. It will help them to improve tourist experiences.
Originality/value
The findings contribute to both theory and practice of destination marketing by exploring the factors influencing tourists' perceptions about their experience of Islamic spiritual destinations.
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Shani Kumar, Sonia Chawla and Pawandeep Kaur
Artificial intelligence (AI) has several advantages for enhancing marketing strategies. It raises ethical problems about customer priority, market share consolidation and consumer…
Abstract
Artificial intelligence (AI) has several advantages for enhancing marketing strategies. It raises ethical problems about customer priority, market share consolidation and consumer manipulation. This study examines ethical issues from a modern viewpoint, using insights from AI and previous literature review. The implementation of AI in marketing may result in unanticipated ramifications, including the reinforcement of preexisting prejudices, infringement upon customer privacy, restriction of competitive forces and meddling with consumer conduct. This research seeks to enhance the industry by offering a contemporary viewpoint on the ethical issues related to AI utilisation in predictive marketing, based on insights from previous literature review in the field.
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Bushra K. Mahadin and Mamoun N. Akroush
The purpose of this paper is to identify factors affecting word-of-mouth (WOM) towards Islamic Banking (IB) in Jordan through understanding the roles of service quality and…
Abstract
Purpose
The purpose of this paper is to identify factors affecting word-of-mouth (WOM) towards Islamic Banking (IB) in Jordan through understanding the roles of service quality and perceived value.
Design/methodology/approach
A self-administered survey was hand-delivered to the targeted sample of Islamic banks customers in Jordan. The authors delivered 400 questionnaires to customers from which 352 were deemed valid for the analysis. Exploratory and confirmatory factor analyses were performed to assess the research constructs validity and composite reliability. Structural path analysis was also used to test the research model and hypothesised relationships between the variables.
Findings
Service quality has a positive and significant effect on perceived value and WOM towards IB. Convenience has a positive and significant effect on perceived value. Finally, perceived value has a positive and significant effect on WOM towards IB. Service quality exerted the strongest effect on perceived value and WOM. Also, 38 per cent of variation in perceived value was caused by religious motives, service quality and convenience path, whereas 34 per cent of variation in WOM towards IB was caused by perceived value, service quality and convenience path.
Research limitations/implications
Future research needs to investigate other factors that may affect customers’ WOM concerning IB such as perceived bank image, trust and subjective norms. Future research should investigate other dimensions of perceived value such as social, psychological, emotional, sacrifice value and product values and how they affect WOM. From an international marketing standpoint, comparative studies between Jordanian and non-Jordanian Islamic customers are potential areas of future research for international marketing strategies and cross-cultural consumer behaviour analysis.
Practical implications
The paper identifies the determinants of WOM towards IB. Managers should focus on executing service quality strategies customised towards IB. Convenience is a major driver of perceived value and, then, WOM towards IB. Managers need to focus on key marketing messages that enhance religious motives in customers’ minds and hearts; however, attracting new customers and retaining the current ones depend on the perceived benefits in the areas of service quality, convenience and several value aspects.
Originality/value
This study is the first of its kind to test a model of WOM determinants in IB in Jordan. The study is thought to have made a reasonable contribution to consumer behaviour literature and, specifically, for decision-making process through developing and testing a model of WOM determinants towards IB. The study offers CEOs and marketing managers of Islamic banks new insights into the determinants of WOM and how they contribute to consumers’ decision-making process and attitudes to achieve the intended behavioural outcomes towards IB, which were not available at their hands before. These empirical findings are crucial inputs for marketing strategy formulation and implementation.
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Raja Madihah Raja Alias, Norhashimah Mohd Yasin, Badruddin Hj Ibrahim and Mohd Yazid Zul Kepli
Money laundering and terrorism financing are financial crimes which affect the economic stability and integrity of the country. In this respect, the relevant regulator has a duty…
Abstract
Money laundering and terrorism financing are financial crimes which affect the economic stability and integrity of the country. In this respect, the relevant regulator has a duty to preserve and protect the financial stability of the country. This duty is in line with the concept of the protection of wealth (hifz al-mal) under the maqāsid al-Sharīʿah or higher objectives of Islamic law framework. The objective of this chapter is to examine the protection of wealth vis-á-vis money laundering and terrorism financing from the maqāsid al-Sharīʿah perspective. This study analyses the primary and secondary legal sources on the laws and regulations on anti-money laundering and counter financing of terrorism while also considering the primary and secondary sources of Islamic law. This study is significant as it makes an exploration of the maqāsid al-Sharīʿah perspectives and discusses the position of unlawful wealth that is acquired from the illicit gain of property from the abuse of money laundering and the financing of terrorist activities. This chapter suggests that Islamic law emphasises on the lawful ownership of wealth and prohibits a person from acquiring illicit wealth. This study will contribute towards the study on the deployment of maqāsid al-Sharīʿah, which is beneficial in safeguarding an individual action as well as the country’s commitment against abuse and misuse of wealth for financial crimes.