Search results

1 – 10 of 80
Per page
102050
Citations:
Loading...
Available. Open Access. Open Access
Article
Publication date: 17 August 2021

Kashif Rashid, Yasir Bin Tariq and Mamoon Ur Rehman

This study examines the role of behavioural factors, such as confidence, optimism, pessimism and rational expectation, in affecting investment decisions in the Pakistani stock…

6613

Abstract

Purpose

This study examines the role of behavioural factors, such as confidence, optimism, pessimism and rational expectation, in affecting investment decisions in the Pakistani stock market.

Design/methodology/approach

Using daily trading data of Karachi Stock Exchange-100 index from January 2012 to December 2015, different regression models, including descriptive statistics and stationarity tests, are performed.

Findings

Results indicate that stock market trading has suffered from pessimistic behaviour of investors. In the first model, the authors find a positive sign of confidence and negative sign of optimism with the trading volume. The second model shows a positive role of confidence and rational expectations in affecting the trading volume in daily, Monday and Friday samples. The results of the third model show a negative sign of both optimism and rational expectation with the trading volume. Furthermore, the next model shows a negative sign of confidence combined with pessimism while testing their relationship with the trading volume. Finally, results of the final model suggest that optimism negatively affects the trading volume, and on the other hand, pessimism has a positive impact on the trading volume.

Research limitations/implications

The method and empirical testing of behavioural biases and their relationship with economic variable used in this study seem to be a promising way to better understand the role of psychology in deriving financial decisions for academics and policymakers.

Originality/value

This study uses secondary data for measuring behavioural biases and decomposes the effect between rational expectation and behavioural biases.

Details

Asian Journal of Accounting Research, vol. 7 no. 2
Type: Research Article
ISSN: 2443-4175

Keywords

Access Restricted. View access options
Article
Publication date: 10 June 2020

Muhammad Tahir, Arshad Hayat, Kashif Rashid, Muhammad Asim Afridi and Yasir Bin Tariq

The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current…

440

Abstract

Purpose

The new growth literature in general is very optimistic about the positive impact that human capital has on the economic growth of countries. Based on this argument, the current paper focusses to investigate the impact of different types of human capital on economic growth.

Design/methodology/approach

The paper utilizes data for the period 1998 to 2017 and employs suitable econometric techniques.

Findings

It is found that it is not the stock of human capital rather its utilization in terms of average working hours that matters for higher growth. Other than human capital, trade openness and investment are positively associated with growth. On the other hand, inflation has an insignificant impact while employment level has a negative impact on growth. Moreover, for developing countries, the study also revealed that stock of human capital has negatively and average working hours has positively impacted economic growth. Finally, domestic investment and employment level appeared to be the main growth determinants in developing countries.

Research limitations/implications

Policymakers are suggested to ensure the maximum utilization of working hours, trade openness and domestic investment in improving economic growth in OECD countries.

Originality/value

This study has visualized the impact of human capital on economic growth from a new perspective and hence would be useful for policymakers.

Details

Journal of Economic and Administrative Sciences, vol. 36 no. 4
Type: Research Article
ISSN: 2054-6238

Keywords

Access Restricted. View access options
Article
Publication date: 15 February 2013

Kashif Rashid and Sardar M.N. Islam

The purpose of this paper is to test the role of corporate governance instruments in affecting the value of a firm (CGVF) in isolation and in combination of each other in a

2104

Abstract

Purpose

The purpose of this paper is to test the role of corporate governance instruments in affecting the value of a firm (CGVF) in isolation and in combination of each other in a developing financial market characterized by the existence of additional imperfections in this market.

Design/methodology/approach

Multiple regression analysis is performed on the data which are collected by using stratified random sampling technique for the companies listed in the Kuala Lumpur Stock Exchange for the years 2000‐2003.

Findings

The results for the study suggest that majority shareholders expropriate minority shareholders in this market. On the contrary, a bigger board, market liquidity, efficient utilization of assets and informational efficiency in the financial system have a value adding impact on the firms' performance. The results on the role of corporate governance instruments (board size and CEO duality) in affecting the value of a firm in combination with each other suggest that the additional imperfections prevalent in the selected market limit the strength of individual instruments in improving the marginal benefits of each other, explaining the nature of business operations in this market.

Practical implications

The results provide new insights into the CGVF relationship and highlight the importance of corporate governance provisions relevant to the firms of the developing market. These results can be used by the regulatory authorities to make effective corporate governance policies.

Originality/value

This paper contributes to the literature by performing a comprehensive study by using a correct proxy to value a firm and by performing additional tests for robustness to provide valid results on the CGVF relationship. Furthermore, the role of additional imperfections and implications of various business theories in explaining the relationship between corporate governance instruments (in isolation and in combination) and the value of a firm is also analysed.

Details

Corporate Governance: The international journal of business in society, vol. 13 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

Access Restricted. View access options
Book part
Publication date: 4 March 2015

Xuan Vinh Vo

Vietnam started significant transition policy since 1986 with the introduction of extensive policy of Doi Moi process. The transition from a centrally planned economy toward…

Abstract

Vietnam started significant transition policy since 1986 with the introduction of extensive policy of Doi Moi process. The transition from a centrally planned economy toward market-oriented economy has brought some significant results; however Vietnam has until recently stood out as a success story among the transitional economies from a developmental perspective. This requires further investigation of other factors relating to the viability assumption of neoclassical economics. This paper aims to investigate the relationship between corporate governance and firm value in Vietnam, a small and open neo-transitional economy. The result suggests a positive relationship of board size and the value of a firm, but it is not significant. The result also shows a lack of significant negative relationship of other two independent corporate governance variables (shareholder concentration and CEO duality) and the value of a firm. However, to some extent, too high shareholder concentration and CEO duality tend to have negative impacts to the firm value. Other control variables such as price-to-book value ratio and return on total assets have significant and positive impacts on the value of a firm, while the market capitalization has a negative relationship with the value of a firm.

Access Restricted. View access options
Article
Publication date: 24 March 2021

Jawad Ali, Zia Bashir and Tabasam Rashid

The purpose of the development of the paper is to construct probabilistic interval-valued hesitant fuzzy Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS…

312

Abstract

Purpose

The purpose of the development of the paper is to construct probabilistic interval-valued hesitant fuzzy Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) model and to improve some preliminary aggregation operators such as probabilistic interval-valued hesitant fuzzy averaging (PIVHFA) operator, probabilistic interval-valued hesitant fuzzy geometric (PIVHFG) operator, probabilistic interval-valued hesitant fuzzy weighted averaging (PIVHFWA) operator, probabilistic interval-valued hesitant fuzzy ordered weighted averaging (PIVHFOWA) operator, probabilistic interval-valued hesitant fuzzy weighted geometric (PIVHFWG) operator and probabilistic interval-valued hesitant fuzzy ordered weighted geometric (PIVHFOWG) operator to cope with multicriteria group decision-making (MCGDM) problems in an efficient manner.

Design/methodology/approach

(1) To design probabilistic interval-valued hesitant fuzzy TOPSIS model. (2) To improve some of the existing aggregation operators. (3) To propose the Hamming distance, Euclidean distance, Hausdorff distance and generalized distance between probabilistic interval-valued hesitant fuzzy sets (PIVHFSs).

Findings

The results of the proposed model are discussed in comparison with the aggregation-based method from the related literature and found the effectiveness of the proposed model and improved aggregation operators.

Practical implications

A case study concerning the healthcare facilities in public hospital is addressed.

Originality/value

The notion of the proposed distance measure is used as rational tool to extend TOPSIS model for probabilistic interval-valued hesitant fuzzy setting.

Details

Grey Systems: Theory and Application, vol. 12 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

Access Restricted. View access options
Article
Publication date: 8 July 2019

Abdullah Campong Andam and Ahmad Zamri Osman

The purpose of this paper is to identify the factors influencing intention of Muslim Filipinos to give zakat on employment income.

1838

Abstract

Purpose

The purpose of this paper is to identify the factors influencing intention of Muslim Filipinos to give zakat on employment income.

Design/methodology/approach

The study used the extended theory of planned behaviour – an extension of the theory of reasoned action – to investigate the factors influencing intention to give zakat. The theory introduces six variables (i.e. attitude, perceived behavioural control, injunctive norm, descriptive norm, moral norm and past behaviour) in predicting the intention to give zakat. Totally, 450 questionnaires were distributed to the respondents in a Muslim-majority area (i.e. Marawi City), and 384 cases were deemed usable. The data have been analysed using multiple regression analysis.

Findings

This paper finds that attitude, descriptive norm and moral norm have a positive relationship with the intention to give zakat. Meanwhile, perceived behavioural control, injunctive norm and past behaviour are found to have insignificant influence over intention. However overall, the study supports the extension of the theory of planned behaviour which accounts for 53 per cent of the variance in intention.

Originality/value

This paper provides new insights on factors influencing the intention to give zakat on a non-Muslim majority country setting where no zakat institution operates. This paper also used the extended theory of planned behaviour on zakat compliance literature.

Details

Journal of Islamic Accounting and Business Research, vol. 10 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Access Restricted. View access options
Article
Publication date: 17 December 2024

Maryam Javed, Nadia Nasir, Adnan Bashir, Kashif Mehmood and Hammad Akhtar

This study aims to analyze chief executive officer (CEO) duality in corporate governance by using Scopus data. It explores CEO duality research trends across diverse corporate…

27

Abstract

Purpose

This study aims to analyze chief executive officer (CEO) duality in corporate governance by using Scopus data. It explores CEO duality research trends across diverse corporate governance contexts and disciplines, shaping the future research agenda, and proposing recommendations for further investigations in this area.

Design/methodology/approach

This analysis is conducted through VOSviewer software and Biblioshiny by extracting the bibliometric network from the output files of the Scopus bibliographic database.

Findings

Research on CEO duality centers on keywords such as corporate governance, agency theory, board of directors, board size and firm performance. Word tree maps uncover various research areas and gaps. Top authors are Elsyed K. & Rashid K, with the University of Utara Malaysia as the leading organization. Main disciplines are “Business Management and Accounting” followed by “Economics.” “Corporate Governance: An International Review” tops the journals with 1,120 citations. Quantitative methods using secondary data dominate (94%), mostly from nonfinancial industries (96%). Theoretical lenses include agency theory, stewardship theory, stakeholder theory, resource dependence theory and institutional theory. Firm performance is the most researched aspect (38% of studies) concerning CEO duality.

Practical implications

Bibliometric and systematic analysis offer researchers a general overview and in-depth insights into current CEO duality research trends, influential articles and keywords in corporate governance. This study’s findings benefit research institutions, professional bibliometric users and funding agencies alike.

Originality/value

By visualizing bibliometric networks and conducting systematic analysis of top-cited articles, this study not only advances the academic understanding of CEO duality in corporate governance but also provides actionable recommendations for researchers, practitioners and policymakers to enhance governance practices and contribute to the field’s evolving body of knowledge.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Access Restricted. View access options
Article
Publication date: 13 June 2020

Tahir Nazir, Muhammad Abbas and Muhammad Kashif Iqbal

The purpose of this paper is to present a new cubic B-spline (CBS) approximation technique for the numerical treatment of coupled viscous Burgers’ equations arising in the study…

294

Abstract

Purpose

The purpose of this paper is to present a new cubic B-spline (CBS) approximation technique for the numerical treatment of coupled viscous Burgers’ equations arising in the study of fluid dynamics, continuous stochastic processes, acoustic transmissions and aerofoil flow theory.

Design/methodology/approach

The system of partial differential equations is discretized in time direction using the finite difference formulation, and the new CBS approximations have been used to interpolate the solution curves in the spatial direction. The theoretical estimation of stability and uniform convergence of the proposed numerical algorithm has been derived rigorously.

Findings

A different scheme based on the new approximation in CBS functions is proposed which is quite different from the existing methods developed (Mittal and Jiwari, 2012; Mittal and Arora, 2011; Mittal and Tripathi, 2014; Raslan et al., 2017; Shallal et al., 2019). Some numerical examples are presented to validate the performance and accuracy of the proposed technique. The simulation results have guaranteed the superior performance of the presented algorithm over the existing numerical techniques on approximate solutions of coupled viscous Burgers’ equations.

Originality/value

The current approach based on new CBS approximations is novel for the numerical study of coupled Burgers’ equations, and as far as we are aware, it has never been used for this purpose before.

Access Restricted. View access options
Article
Publication date: 16 September 2020

Md. Mizanur Rahman, Mohammad Ashraful Ferdous Chowdhury, Md. Mahmudul Haque and Mamunur Rashid

Owing to religious and economic preferences in Muslim-dominated countries, middle-income customers are at the heart of banks’ strategic targeting. This study aims to investigate…

394

Abstract

Purpose

Owing to religious and economic preferences in Muslim-dominated countries, middle-income customers are at the heart of banks’ strategic targeting. This study aims to investigate selected middle-income Islamic bank customers from Sylhet, one of Bangladesh’s top religious and cultural cities, to examine their perceptions of the Islamic banking services.

Design/methodology/approach

This study forwards three determinants of overall satisfaction. These are perceived relative advantage (PRA), perceived risk management (PRM) and perceived customer engagement (PCE). The study has used structured questionnaire and collected complete data on 300 middle-income Islamic bank users. The data was analysed using exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modelling (SEM).

Findings

While all the three selection factors significantly influence overall satisfaction, PCE has greater positive impact on overall customer satisfaction, followed by PRA and PRM. “Convenient location”, “competitive charges” and “return on deposit despite low earnings” are the top three instruments measuring “PCE”. Religion did not qualify as a standalone selection factor. The results are robust across tests conducted by using EFA, CFA and SEM.

Practical implications

Gross purchasing power of middle-income class in Bangladesh grew from 7% to over 30% during the past decade, and the purchasing power of this class stood at US$100bn. Having a greater portion of this population as Muslims, banks can design products and marketing campaigns by using the three selection criteria that offer a combination of faith and non-faith-based variables.

Originality/value

Similar studies on the middle-income customer group have been rare, especially from the Islamic banking perspective. These findings offer a concise list of three factors for the bank managers to build their strategies. With respect to the Vision 2021, these findings carry greater socio-economic significance given the transition of Bangladesh to a middle-income country.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Available. Open Access. Open Access
Article
Publication date: 4 September 2020

Ambreen Sarwar, Muhammad Kashif Imran, Zafar-Uz-Zaman Anjum and Umer Zahid

In modern times, innovation is considered as a vital component of sustainable competitive advantage. The purpose of this paper is to identify how innovation at the individual…

4427

Abstract

Purpose

In modern times, innovation is considered as a vital component of sustainable competitive advantage. The purpose of this paper is to identify how innovation at the individual level [innovative work behavior (IWB)] and at the organizational level [innovative organizational climate (IOC)] affects the chances of success of a particular project. Additionally, the moderating effect of gender and work culture on the relation between innovative climate and behavior is tested in the study.

Design/methodology/approach

Survey technique was used to collect data from 425 employees working in project departments at the executive, middle level and senior level management in the paint manufacturing industry of Pakistan. Multiple regression, as well as Preacher and Hayes (2004) tests, were applied to test the hypotheses.

Findings

The result of the data analysis showed that IWB acts as a mediator between IOC and project success (PS), thereby supporting the hypothesized model of innovation and PS. Work culture was supported as a moderator; however, no moderating effect of gender was validated by the results.

Research limitations/implications

The management must make sure that to maximize the rate of success of projects, innovative work climate within the organizations and departments be given due importance. In addition to this, personnel’s individual innovation capabilities must also be enhanced by taking steps toward improvement through training and development.

Originality/value

Though attention has been given to research in innovation in light of other related variables, its relation to PS remains yet to be studied. The effect of gender and work culture on innovation in Pakistani paint industry was long over-due which has been addressed by this study.

Details

Innovation & Management Review, vol. 17 no. 4
Type: Research Article
ISSN: 2515-8961

Keywords

1 – 10 of 80
Per page
102050