Search results

This study examines the durations of US stock market cycle expansions and contractions for the presence of seasonality. Specifically, it is determined whether the distributional characteristics (i.e., location and dispersion) of the durations of market expansions and contractions are dependent on the time of the year the market phase begins or ends. The duration data are obtained from a stock market chronology of monthly peak and trough dates for the period May 1835 through July 1998 and nonparametric rank‐based tests are used to test for the presence of seasonality. In order to provide some evidence on robustness with respect to the sample data, results are obtained for the entire sample period as well as for various sub‐periods. When the data are aggregated on a quarterly basis, the evidence suggests that seasonal structures are present in stock market cycle durations. These seasonals are related primarily to shifts in location over the course of the year and to when a market expansion or contraction begins. However, when the duration data are aggregated on a bi‐annual basis, support for seasonality is much more limited.

The purpose of this paper is to explore the ethnocentric tendencies of Emirati Gen Z consumers and to provide empirical evidence on how demographic variables (gender and education) influence ethnocentric tendencies. The study also attempts to know the impact of ethnocentrism on the buying behavior of the segment.

Researchers collected the opinions of 310 Emirati Gen Z consumers by using a modified CETSCALE. The data was reviewed and coded by applying software R Studio and Microsoft Excel. Cronbach’s α and Kaiser–Meyer–Olkin (KMO) tests were administered to check the internal consistency and validity of the 17-item CETSCALE. Then, the factor extraction method principal component analysis (PCA) was used to analyze the data. The selected hypotheses were tested by using the Cronbach α and Kruskal–Wallis (K-W) hypothesis testing technique.

The findings suggest that Emirati Gen Z consumers substantially ethnocentric who prefer domestic products/services over foreign goods. No significant influence of gender and education on Emirati Gen Z consumers’ ethnocentric tendencies.

The targeted subjects were selected only from Dubai and the Sharjah Emirates and not covered the remaining five emirates of the UAE. Consumers were asked to assess their ethnocentrism without reference to a specific product or service.

This type of meticulous study in the UAE has never been done before to explore the ethnocentric tendencies of Gen Z consumers.

The purpose of this paper is to explore and compare the extent of intellectual capital (IC) and its four components among ASEAN countries, and examine the relationship between firms’ IC, market value, and financial performance.

The study uses the data of 213 technology firms listed on five ASEAN stock exchanges. Pulic’s Value Added Intellectual Coefficient model is modified by adding an extra component, namely, relational capital efficiency (RCE). The Kruskal-Wallis one-way ANOVA and multiple regression analysis have been utilized to test the hypotheses.

The results reveal that there is no significant difference in Modified Value Added Intellectual Coefficient (MVAIC) across five ASEAN countries; however, firms in each country tend to place a different degree of emphasis on components of MVAIC to generate corporate value. The results further indicate a positive relationship between IC and market value, confirming that firms with greater IC tend to have greater market value. Likewise, a positive relationship between IC and financial performance measures is confirmed. Specifically, IC is found to be positively associated with margin ratio and return on assets. Capital employed efficiency and human capital efficiency are found to be the most influential value drivers for both market value and financial performance while structural capital efficiency and relational capital efficiency possess less importance.

This study contributes to the IC literature by expanding our knowledge of IC in the emerging economies, and providing a national comparative IC research when such research is limited.

This paper aims to assess the financial performance of firms that adopted or deferred the adoption of SSAP 20 “Foreign Currency Translation”. The focus of the study is to examine the impact of certain accounting issues, such as liquidity, hedging, foreign currency loans, managerial compensation, pre‐ and post SSAP 20 treatment of translation differences, etc, on the behaviour of firms.

The paper follows the positive accounting theory context and utilises parametric (logistic regression) and non‐parametric (Kruskal–Wallis test) tests to form and test theoretical hypotheses and relations between groups of firms with different financial characteristics.

The study provides evidence that the implementation of SSAP 20 has overall strengthened the financial position of adopters. Adopters that used different translation methods prior to adoption tend to exhibit different financial characteristics (e.g. higher leverage) in the pre‐actual adoption period. In contrast, they present no substantial differences in the actual adoption period. The findings show that adopters give priority to their stock market picture and tend to distribute higher dividend to their shareholders even if this leads to lower management payout.

Firstly, for the period under investigation, the availability of accounting and financial data and the disclosure of accounting information in the financial statements were to some extent limited. Secondly, it is difficult to see through managers’ inner intentions, and as a result managers’ behaviour and motives may not always be clear and conceivable to outsiders.

This study has significant implications for accounting standard setting bodies and investors. It provides insight about firms’ objectives and potential attitude and reaction to the issue of accounting regulation. This study also formulates the basis for studying firms’ behaviour and reaction with regard to other accounting standards and financial issues.

The main aim of this paper is to measure customers’ perception of car Ijarah financing transactions services provided by the Islamic banks and financial institutions in Pakistan.

The paper uses two research methodologies: Kruskal–Wallis and Mann–Whitney test (non-parametric) and logit regression model (parametric). Both methods are then applied to a real data set of 300 respondents from various cities of Pakistan in the car Ijarah financing industry. The demographic effects are also investigated to see the perception about the degree of Shari’ah compliance and the quality of service of transaction offered by banks.

Main finds of the paper reveal that the customers who used the car Ijarah facility from Islamic banks have positive attitude toward this sort of transaction. In addition, gender, income, marital status affect the perception about the quality of Shari’ah compliance, and the quality of service of transaction issues are very important to selected clients in the industry.

These findings are limited to the car Ijarah financing industry and may not be applicable in other banking products in Pakistan and elsewhere.

Based on the results of this study, potential Islamic bank customers may find it helpful choose products or make product decisions conveniently. The findings of the paper also support Islamic banks in improving the Ijarah facility to increase their customer base in the geo-political locality with similar characteristics as Pakistan.

Shari’ah compliance in the Islamic finance industry is a sensitive issue in Pakistan, and hence, car Ijarah’s Shari’ah compliance can affect banks’ reputation and sensitivity.

The work reported in this paper is original, unpublished and the paper is not submitted elsewhere for publication.

This paper aims to enhance the existing literature on adaptive market hypothesis (AMH) as this study first time links the month of Ramadan with AMH that permits the performance of well-known Ramadan effect to fluctuate over time.

To fulfill the purpose, the authors inspect the daily returns of 107 individual firms listed at Pakistan Stock Exchange over the period of 20 years. To explore the varying degree of return predictability during Ramadan, the authors use four different subsamples comprising equal length of observations of five years each. The authors use a GARCH (1,1) regression model which facilitates for time varying nature of volatility in equity returns. To facilitate the non-normal nature of stock return data, the authors use Kruskal–Wallis test statistic.

The authors find that behavior of Ramadan effect evolves over time, as performance of this effect varies from time to time and consistent with AMH. Finally, the paper proposes that AMH is well elucidation of behavior of Ramadan effect than traditional efficient market hypothesis.

First limitation is related to the choice of sub-sample as the study uses a sub-sample of five years. Second, the authors ignore transection cost (commissions, fee and taxes) as it is freely negotiated and varies between 4 and 10% (Khan, 2013). Due to such varying information we ignore the transaction cost. It is suggested that a sub-sample analysis of long period may be a more appropriate method to elucidate the idea of AMH in future research and suggest the current method could be adapted and helpful to examine other calendar and market anomalies in different equity markets.

The paper includes implications for investors to choose a better model for investment. Investors can exploit greater returns in future month of Ramadan periods. Furthermore, the researchers can easily extend the methodology used in the study to address multiple issues like adaptive behavior of returns from bonds, real estate investment trusts, cryptocurrencies and trading rules of strategies.

Study confirms from sample t-test and GARCH (1,1) model that Ramadan effect is present in the full and in certain sub-samples; therefore, based on these discrepancies investors can earn abnormal returns by developing specific investment strategies as investors usually make investments in share according to the religious context of Islamic Calendar. The results provide good references for suitable time of investment in stock market. The findings of this study will be helpful to investors and brokers as well as portfolio managers to capture favorable returns across the Islamic calendar.

The paper identified need to study why behavior of Ramadan effect varies over time. The data set comprises daily returns of 107 individual companies over the period of 20 years to better investigate the varying nature of anomalous effect of month of Ramadan. The findings are valuable for international investors and portfolio managers.

This study aims to investigate the risk factors in construction projects in oil and gas processing facilities in Yemen and serves as a case study for developing countries.

By using a questionnaire, data were collected from 201 project managers and engineers employed in different sectors in the oil and gas industry in Yemen.

The survey analysis based on Kruskal–Wallis test method shows a high degree of agreement on the perceptions of risk factors depending on categories of companies. In other words, the tested risk factors exist in all sectors of oil companies in Yemen and are valid as a measure of risk factors in construction projects in oil and gas organizations in general. Although no evidence suggests that the risk factors differ significantly according to job title, the result of identifiable risk factors according to experience shows a statistically significant difference among participants in terms of their experience. The relative importance of the ranking of risk factors was obtained by the statistical analysis of responses on the impact and likelihood of occurrence of these risks. Findings show that internal risks are the greatest influential factors in construction projects in the oil and gas sector, followed by changes during construction project, government instability, incorrect project cost estimation, government delay in decision making, incorrect project schedule estimation, and political situation and war in the country.

These findings are valuable to organizations that are planning to conduct construction projects for oil and gas processing facilities in Yemen and other nations with similar environments, such as developing countries.

The main aim of this paper is to assess Dhaka University students' perceptions of ease‐of‐use and their satisfaction with University Library's online public access catalogue (DUL OPAC).

A survey questionnaire was developed and used to collect data on students' demographics, online catalogue use and their perceptions of ease‐of‐use and satisfaction with OPAC. In order to analyze the influence of students' demographic and individual characteristics on their perceptions and satisfaction, Mann‐Whitney and Kruskal‐Wallis tests were carried out.

The results showed that students are overwhelmingly satisfied with the DUL OPAC. Although there are some differences in students' perceptions of and satisfaction with the university OPAC, a formal task‐based usability testing and adopting a user‐centered design can ensure the usability of the OPAC in the future. The paper suggested some heuristic guidelines for designing interfaces for online catalogues.

This is the first time an effort has been made to assess students' perceptions of and satisfaction with a library OPAC in Bangladesh. The authors feel this study may encourage more such research on usability evaluation of OPACs in Bangladesh and beyond.

This paper aims to analyse researchers’ awareness about plagiarism and impact of plagiarism detection tools on the actions that they take to prevent plagiarism. It also employs a structural model that examines whether awareness of plagiarism and anti-plagiarism tools have any significant effect on the actions taken by the researchers to avoid plagiarism.

A survey questionnaire was distributed to researchers at a large public university in Bangladesh. The survey accumulated 184 valid responses. Descriptive statistics were obtained to assess researchers’ awareness about plagiarism and impact of plagiarism detection tools and the actions taken by them. The reasons that may cause plagiarism were also identified. The awareness of the availability of the anti-plagiarism software that was being used by the university and its actual use by the researchers was gathered through the survey. Non-parametric Mann–Whitney and Kruskal–Wallis tests were conducted to investigate the differences in awareness levels and actions in terms of gender, age, discipline and current level of research. The chi-square test was carried out to examine the relationship between awareness about the availability of the anti-plagiarism software and its use by the researchers. Finally, the survey data were analysed using structural equation modeling to examine the effects of awareness of plagiarism and anti-plagiarism software on the actions taken by the researchers.

The study revealed that the level of awareness regarding plagiarism and impact of plagiarism detection software is generally high among the researchers. There are some significant differences between researchers’ demographic and personal characteristics and their awareness levels and actions with regard to plagiarism. The findings indicate that almost three-quarters of the researchers were aware about the anti-plagiarism tool that is being used, whereas more than half of the researchers indicated that they used the software to assess their works. The results of the structural equation model do not show a good fit, although there is strong statistical evidence that awareness about plagiarism and anti-plagiarism software has significantly impacted researchers’ actions towards preventing plagiarism.

There is no reported study on researchers’ awareness of plagiarism and its affiliated issues in Bangladesh. The findings of this study will not only provide useful insights regarding awareness about plagiarism but also assist university authorities to formulate relevant policy and take necessary actions against plagiarism in higher education institutions.

This paper aims to explore the use of Bostick’s (1992) Library Anxiety Scale (LAS) in a developing country perspective to find out the level of anxiety among university students and to identify the underlying factors that contribute to this phenomenon.

A slightly modified 43-item LAS was used to collect data from 350 students at Dhaka University. For data analysis, negatively worded statements were reverse-scored so that all the statements are scored in the same direction. The statistical significance is measured using Mann–Whitney (M-W) and Kruskal–Wallis (K-W) tests. The M-W tests were conducted to examine the differences in students’ library anxiety scores in terms of their age and educational levels. The K-W tests were conducted to examine the differences in students’ ratings on LAS items in terms of their age and faculty enrolment. Exploratory factor analysis (EFA) was conducted on the survey data to examine the factors contributing to students’ anxiety. Finally, confirmatory factor analysis (CFA) was used to test the convergent validity of the measures chosen to represent each factor construct.

The result of this study indicated that library anxiety exists amongst Dhaka University students, as most LAS scores fell above 3 on a 5-point Likert scale. The individual differences in terms of gender, age, educational level and frequency of library visit were not significant for most of the items. The EFA, after several iterations, yielded a five-factor solution for library anxiety constructs although only two factors were found to have met the required reliability scores. The CFA, however, failed to produce any meaningful results. This paper made several recommendations to the university library administration to alleviate the problems that appear to have triggered library anxiety.

This is a pioneering study of the use of Bostick’s LAS in Bangladesh. It is hoped that the findings of this study will encourage researchers to develop anxiety scales which would address the need for library services in developing country context.