Current criminological theory and the Government's focus on ‘community safety’ and ‘crime and disorder reduction’ has led to the creation of a new discipline, or at least a new…
Abstract
Current criminological theory and the Government's focus on ‘community safety’ and ‘crime and disorder reduction’ has led to the creation of a new discipline, or at least a new paradigm, that of crime science. This article explores the theoretical basis and multi‐disciplinary nature of crime science and its usefulness in the reduction of alcohol and drug‐related crime.
Shah Saeed Hassan Chowdhury, M. Arifur Rahman and M. Shibley Sadique
The main purpose of this paper is to investigate autocorrelation structure of stock and portfolio returns in a unique market setting of Saudi Arabia, where nearly all active…
Abstract
Purpose
The main purpose of this paper is to investigate autocorrelation structure of stock and portfolio returns in a unique market setting of Saudi Arabia, where nearly all active traders are the retail individuals and the market operates under severe limits to arbitrage. Specifically, the authors examine how return autocorrelation of Saudi Arabian stock market is related to factors such as the day of the week, stock trading, performance on the preceding day and volatility.
Design/methodology/approach
The sample consists of the daily stock price and index data of 159 firms listed in Tadawul (Saudi Arabian Stock Exchange) for the period from January 2004 through December 2015. The methodology of Safvenblad (2000) is primarily used to investigate the autocorrelation structure of individual stock and index returns. The authors also use the Sentana and Wadhwani (1992) methodology to test for the presence of feedback traders in the Saudi stock market.
Findings
Results show that there is significantly positive autocorrelation in individual stock, size portfolio and market returns and that the last two are almost always larger than the first. Return autocorrelation is negatively related to firm size. Interestingly, return autocorrelation is positively related to trading frequency. For portfolios, autocorrelation of returns following a high absolute return day is significantly higher than that following a low absolute return day. Similarly, return autocorrelation during volatile periods is generally larger than that during tranquil periods. Return correlation between weekdays is usually larger than that between the first and last days of the week. Overall, the results suggest that the possible reason for positive autocorrelation in stock returns could be the presence of negative feedback traders who are engaged in frequent profit-taking activities.
Originality/value
This is the first paper that thoroughly investigates the autocorrelation structure of the returns of the Saudi stock market using both index and individual stock returns. As this US$583bn (as of August 21, 2014) market opened to foreign institutional investors in June 2015, the results of this paper should be of significant value for the potential uninformed foreign investors in this relatively lesser known and previously closed yet highly prospective market.
Details
Keywords
Muhammad Nouman, Karim Ullah, Shafiullah Jan and Farman Ullah Khan
Islamic banking has undergone significant adaption since its inception. This study aims to investigate why and how Islamic banks adapt their services, using participatory…
Abstract
Purpose
Islamic banking has undergone significant adaption since its inception. This study aims to investigate why and how Islamic banks adapt their services, using participatory financing as evidence.
Design/methodology/approach
A qualitative study is designed, using working capital financing and commodity operations financing in Pakistan as analytical units. The data for each analytical unit is analyzed using a qualitative content analysis, while the findings are synthesized using a cross-case synthesis method.
Findings
Findings suggest that participatory financing has undergone extensive adaptation in the Islamic banking industry of Pakistan, in the wake of resolving constraints to participatory financing and increasing its viability. Consequently, participatory finance has emerged as an attractive and viable option in Pakistan. These findings suggest that unlike in the past, where Islamic banks used to buffer themselves from the environment and ignore the market demands, they have learned to respond effectively to the market demands and the challenges posed by the environment.
Research limitations/implications
Findings suggest that the adaptation strategy is more effective than the migration strategy, because it enables the financial service systems to reduce the underlying risks by avoiding emergent threats and eradicating the inherent weaknesses.
Originality/value
The extant literature provides a generalized view on the adaptation process that Islamic banks undergo to comply with their environment. However, it is limited in terms of conceptualizing the adaptations and innovations in their products and the underlying structural variations. The present study fills this gap.
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Amir A. Abdulmuhsin, Bekir Değirmenci, İbrahim Halil Efendi̇oğlu and Yakup Durmaz
This study aims to reveal both the effect of the perception of COVID-19 on avoidance behaviors and the mediating role of the perception of personal control in this relationship…
Abstract
Purpose
This study aims to reveal both the effect of the perception of COVID-19 on avoidance behaviors and the mediating role of the perception of personal control in this relationship. COVID-19 emerged in December 2019 and since then, it has spread globally in a short period and has affected people socially, economically and culturally.
Design/methodology/approach
The data for the research was collected from 418 participants during COVID-19, through online questionnaires. The obtained data were analyzed through AMOS and SPSS software using structural equation modeling.
Findings
The research results show that some perceptions of COVID-19 affect avoidance behavior and that personal control has a mediating role. It has also been found that gender plays a moderating role in the relationship between COVID-19 and avoidance behavior. It has been found that women are especially more sensitive compared to men in perceiving COVID-19. This study also found that perception of COVID-19 changes depending on income.
Practical implications
After the pandemic is over, people will get in contact with each other less than before, and trade will change accordingly. People will avoid shopping in crowded places, and consumer behaviors will undergo different changes. All of these results considered, it is expected that avoidance behavior will cause some permanent behavioral changes in consumers.
Originality/value
The study answers the critical question about the effect of the perception of COVID-19 on avoidance behavior. Furthermore, the role of income level, gender and education in this relationship will be highlighted.