This paper is an attempt to present legal issues of Islamic corporate governance (ICG) in the presence of global financial crises. It presents ICG model and discusses its…
Abstract
This paper is an attempt to present legal issues of Islamic corporate governance (ICG) in the presence of global financial crises. It presents ICG model and discusses its viability in today’s corporate structure. The model is based on institution of Hisbah which demands book keeping, disclosure, transparency based on Shariah principles of Islamic Finance Ethics.
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Abdul Rashid, Ataullah Muneeb and Maria Karim
This paper first examines how changes in the real effective exchange rate and its volatility affect the exporting activities of firms. Next, it investigates whether exchange rate…
Abstract
Purpose
This paper first examines how changes in the real effective exchange rate and its volatility affect the exporting activities of firms. Next, it investigates whether exchange rate volatility (EXRV) affects the export behavior of financially constrained and unconstrained firms differently. Finally, it examines the role of financial development in mitigating the effects of EXRV and financial constraints on firms' exports.
Design/methodology/approach
The empirical analysis of the paper is based on a wide panel of Pakistani nonfinancial firms listed at the Pakistan Stock Exchange during the period 2001–2016. To mitigate the problem of endogeneity and to take into account the dynamic nature of the empirical model, the authors apply the robust two-step system-GMM estimator developed by Blundell and Bond (1998). To examine the role of credit constraints, firm-year observations are sorted as financially constrained and unconstrained based on the median value of three alternative measures: the liquidity ratio, the dividend payout ratio and the Whited and Wu (WW) index.
Findings
The results reveal that an increase in the real effective exchange rate has a positive and significant impact on firms' exports. However, the results show that the EXRV is significantly and negatively related to exporting decisions, suggesting firms considerably decrease their exports during periods of increased unpredictable variations in exchange rates. The findings also suggest that compared to financially constrained firms, the adverse effect of EXRV on exports is weaker for financially unconstrained firms. This finding implies that firm-level financial constraints unfavorably impact exports by making exporting more sensitive to the EXRV. Finally, the findings indicate that financial development not only positively affects firms' exports but also plays a vital role in declining the adverse effects of EXRV on firm-level exports. Specifically, the results show that financial development decreases the negative impact of EXRV on exports for both financially constrained and unconstrained firms. However, the moderating role of financial sector development is higher for financially unconstrained firms.
Research limitations/implications
Notwithstanding that the authors present robust and strong empirical evidence of the effects of EXRV on exporting and on the role of both firm-level financial constraints and financial sector development in formulating these effects, there are some limitations of the study. The authors use a single proxy for measuring financial sector development. However, one may construct an index for the financial sector developed using principal component analysis (PCA) by considering different measures of financial development. The authors use three different measures of financial constraints. Nonetheless, more sophisticated techniques such as switching regression can be used to endogenously determine whether firms are financially constrained. Moreover, an examination of the asymmetric effects of EXRV on exporting across different industries would also be worthwhile.
Practical implications
From a policy point of view, the results suggest that the development of the financial sector and the strategies to lessen credit constraints faced by firms will help in mitigating the adverse effects of the EXRV on the exporting behavior of firms in Pakistan. The findings also suggest that managers in financially constrained firms should apply appropriate hedging strategies to hedge exchange rate risks. Finally, the findings suggest that investors should take into consideration exchange rate dynamics and firms' financial constraints while investing in exporting firms' stocks.
Social implications
Since the findings suggest that financially constrained firms' exports are more exposed to EXRV, managers of such exporting firms are suggested to apply effective and suitable currency risk-minimizing hedging instruments for enhancing their exports. The government should also implement economic and financial policies in such a way that they should help in reducing volatilities of exchange rates and in turn, encouraging firms to export more. Definitely, any policy, at both government and firm level, favoring exporting and export-oriented growth will not only help in overcoming the problem of a persistent and wide trade deficit but also help society by providing more employment and investment opportunities.
Originality/value
Recently, Pakistan has experienced significant declines in foreign reserves, persistent political unrest and enlarged trade deficits. All these have increased the uncertainty about the exchange rate. Therefore, it is valuable to know the EXRV effects on firms' exporting activities. Second, Pakistani firms face more financial constraints, and thus, the influence of financial constraints in formulating the volatility effects on exporting would be worth exploring. Finally, no research has yet taken place to scrutinize the role of financial development in mitigating the adverse effects of EXRV and financial constraints on exporting activities. This paper provides firsthand empirical evidence on the role of financial constraints and financial sector development in formulating the EXRV impacts on firm-level exports in Pakistan.
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Hayat M. Awan and M. Ishaq Bhatti
Recently, ISO 9000 and its associated versions are rapidly becoming a “license to compete” worldwide. Its standards are generic in the way that they can be applied to all…
Abstract
Recently, ISO 9000 and its associated versions are rapidly becoming a “license to compete” worldwide. Its standards are generic in the way that they can be applied to all functions and all industries in various areas of human endeavor. They have been described as the “one size fits all” standards. In developing countries like Pakistan, adoption and implementation of ISO 9000 quality management system is slow due to lack of awareness and initiatives. The present study is an attempt to analyze different practices of ISO 9000, like its status, problems faced (before, during and after implementations), benefits gained, its impact, certification cost, the next step after ISO’s 9000 certification, critical success factors, the role of training, consultancy, top management support, use of ISO 9000 in the international markets, future prospects and in particular, general practices of ISO 9000 in the Sports Industry of Pakistan. In this study, detailed case studies clearly explain the current status and existing practices of ISO 9000 in the sports industry.
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Sabeen Hussain Bhatti, Beata Gavurova, Adeel Ahmed, Maria Rosaria Marcone and Gabriele Santoro
Remote working has brought forward many challenges for employees as the phenomenon is still new for most employees across the globe. Some of these challenges may be addressed by…
Abstract
Purpose
Remote working has brought forward many challenges for employees as the phenomenon is still new for most employees across the globe. Some of these challenges may be addressed by the recent adoption of digital technologies by organizations. In this vein, our study explores the impact of digital platform capability on the creativity of employees through the mediating mechanism of explicit and tacit knowledge sharing.
Design/methodology/approach
The data were gathered from higher education institutes (HEIs) in a developing country, Pakistan which recently saw a major disruption during the Covid-19 pandemic. The proposed hypotheses were tested through Structural Equational Modeling (SEM) and the results confirmed our hypotheses.
Findings
The findings confirmed that the digital platform capabilities impact both tacit and explicit knowledge sharing among these remote employees. Likewise, the results also supported the mediating role of both explicit and tacit knowledge sharing on the creativity of these remote workers.
Originality/value
Our results are significant as they confirm the impact of digitalization on remote workers’ creativity predisposition. We thus advance the academic debate on the problems of knowledge sharing in remote working. We prove that digital capabilities outweigh the challenges created due to new forms of work driven by the pandemic. It further highlights the important areas to focus on while planning human resource policies in the new normal.
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Maria Ashilungu and Omwoyo Bosire Onyancha
The purpose of this study was to determine the extent to which teaching staff cooperated with librarians in collection development, specifically in relation to electronic…
Abstract
Purpose
The purpose of this study was to determine the extent to which teaching staff cooperated with librarians in collection development, specifically in relation to electronic resources, and to identify barriers they encountered while performing collection development activities.
Design/methodology/approach
A mixed methods approach was adopted for the study. Quantitative and qualitative techniques of data collection and analysis were used to obtain a comprehensive understanding of the research topic. Data were gathered through a self-administered questionnaire and interviews. A total of 149 faculty members completed the questionnaire, yielding a response rate of 51.2%, while 16 library staff members were interviewed to obtain qualitative data.
Findings
The majority of the teaching staff who participated in the study affirmed that they had cooperated with subject librarians in collection development. A high percentage (62.4%) of the faculty members had collaborated with subject librarians in collection development activities. Only 37.6% of the faculty members had not participated in collection development activities with subject librarians to acquire library electronic resources. According to faculty members, some of the main challenges affecting collection development at the University of Namibia were a lack of catalogues for electronic resources and a lack of lists of titles from vendors. Moreover, librarians were not always available to assist faculty members. It is recommended that faculty members be part of the process of selecting materials and that a good relationship be fostered between librarians and faculty members to bring value to collection development activities.
Originality/value
Collection development in respect of electronic resources is a complex process to be undertaken by a single entity and, therefore, requires the collaboration of all stakeholders involved. In the case of institutions of higher learning, these stakeholders include faculty, librarians and vendors. The emergence of a variety of e-resources demands a meticulous strategy on the part of libraries to ensure they can offer a wide range of up-to-date and accurate resources that meet the evolving needs of their users. To the best of the authors’ knowledge, studies that are similar to this one have not been conducted in Namibia before. This case study presents useful findings and lessons on faculty–librarian cooperation for effective collection development, not only at the University of Namibia library but also at other academic libraries in economies with similar characteristics.
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Celliane Ferraz Pazetto, Thiago Tomaz Luiz and Ilse Maria Beuren
This study analyzes, from the perspective of social exchange theory, the influence of empowering leadership on contextual performance mediated by perceived organizational support…
Abstract
Purpose
This study analyzes, from the perspective of social exchange theory, the influence of empowering leadership on contextual performance mediated by perceived organizational support (POS) and affective organizational commitment (AOC).
Design/methodology/approach
A survey was carried out with 182 employees of the Best Companies to Work in Brazil. Data analysis was performed by structural equation modeling (SEM) and by fuzzy set qualitative comparative analysis (fsQCA).
Findings
Results demonstrate that empowering leadership directly influences higher contextual performance and indirectly through the mediation of AOC, but not through POS. Serial mediation confirms that the model's variables self-promote each other to ultimately foster higher performance. Furthermore, all solutions to obtain high contextual performance include empowering leadership in the dimension of trust in the high performance of employees.
Research limitations/implications
The statistical support for the serial mediation indicates that empowering leadership promotes POS, which influences AOC that finally promotes the employee's contextual performance. However, this study's model does not include employees' task performance; our results add to the contextual performance literature.
Practical implications
The study highlights the role of the empowering leadership style in the organizational context, an aspect that deserves attention from the managers and organizations due to its effect on employee performance.
Originality/value
The study adds a new framework to the literature, which can be used by organizations to promote contextual performance. The variables, which include contextual and individual factors, foster the employee's contextual performance in a joint and self-promoting way. Contextual performance exceeds the manager's technical attributions; it covers psychological and discretionary behaviors.
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Adapting to external and internal transformations is a difficult task that managers and scholars must face while attempting to keep their organisations alive and well-established…
Abstract
Adapting to external and internal transformations is a difficult task that managers and scholars must face while attempting to keep their organisations alive and well-established. This chapter explores the various decision-making tools that can assist practitioners and scholars to improve their understanding of the external scenario to determine the contemporary appropriateness of these approaches for analysing the environment and their implications for various types of organisations. The chapter investigates the barriers and drivers of these methods and proposes existing alternative paradigms created by academics and practitioners to analyse and comprehend the context. It demonstrates how these decision-making tools can be implemented by providing examples and case studies.
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Bastian Jørgensen and Jannick Schou
This paper examines how digital reforms affect the relationship between frontline workers and citizens in Danish public sector institutions. Using ethnographic research in two…
Abstract
Purpose
This paper examines how digital reforms affect the relationship between frontline workers and citizens in Danish public sector institutions. Using ethnographic research in two branches of public administration, the study highlights how frontline workers act in accordance with seemingly contradictory modes of ordering. Their acts problematize linear conceptualizations of change that often prevail in digital reforms.
Design/methodology/approach
The paper is based on a comparative ethnographic study of frontline workers in the Danish tax and customs administration and municipal citizen service centers. The concept of modes of ordering is used to highlight new tensions that arise as frontline workers adapt to make digital reforms work.
Findings
Frontline workers act according to two different modes of ordering based on the separation between helping citizens help themselves and helping citizens directly. National policies and strategies promote the underlying rationale of the first mode but, as this paper shows, this mode is sustained by a second mode, which involves the intervention of professionals when citizens cannot be helped to help themselves.
Originality/value
The paper, which contributes to our understanding of how digitalization is changing public administrations and the relationship between frontline workers and citizens, challenges applying a linear, technocratic focus in discourses on public sector digitalization and highlights the contradictory practices of frontline work. It demonstrates the necessity of going beyond policy narratives and calls for increased attention to how frontline workers adapt to make reforms work.
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Ngozi Maria Nwaohiri and Moses C. Nwosu
This chapter x-rayed the industrial revolution phases down to the 4th industrial era or the Fourth Industrial Revolution (4IR) The Fourth Industrial Revolution — commonly referred…
Abstract
This chapter x-rayed the industrial revolution phases down to the 4th industrial era or the Fourth Industrial Revolution (4IR) The Fourth Industrial Revolution — commonly referred to as Industry 4.0 or i4.0 — is the next stage in digital transformation. The Fourth Industrial Revolution (4IR) is sometimes described as an incoming thunderstorm, a sweeping pattern of change visible in the distance, arriving at a pace that affords little time to prepare. With the resultant effects of up-skilling and re-skilling the workforce for future fits of the industry 4.0 era. The chapter also provided answers to what skills today's workforce need to develop as their roles evolve, what re-skilling, cross-skilling, up-skilling is all about and the various strategies through which library managers can adopt to encourage their workforce to re-skill, cross-skill and up-skill.
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Cristian Rogério Foguesatto, Alsones Balestrin, Bibiana Volkmer Martins and Anderson Betti Frare
We developed and tested a theoretical model that measures the importance of social media and dynamic capabilities with regard to improving innovation performance in startups from…
Abstract
Purpose
We developed and tested a theoretical model that measures the importance of social media and dynamic capabilities with regard to improving innovation performance in startups from the agribusiness sector (AgTech), that is, technology-based companies with scalability potential that operate in the agribusiness sector.
Design/methodology/approach
This model analyzed three dynamic capabilities: internal collaboration capacity, absorptive capacity, and organizational agility. To test this theoretical model, we employed structural equation modeling with partial least squares estimation (PLS-SEM) analyzing 237 AgTech in Brazil.
Findings
Our results show that the use of social media positively affects innovation performance and contributes to internal collaboration capability (a second-order construct that encompasses commitment, communication, and trust). Internal collaboration is an antecedent of absorptive capacity and organizational agility. These two dynamic capabilities positively impact innovation performance. Our results also indicate that these dynamic capabilities serially mediate the relationship between social media and innovation performance.
Practical implications
While some literature describes the dark side of social media, our study sheds light on the importance of these platforms to improve internal collaboration in AgTech, a pivotal capability that is necessary to develop other relevant capabilities.
Originality/value
This study presents results from one of most large AgTech survey found in literature. Furthermore, this study also shows that there are dynamic capabilities essential to develop others relevant dynamic capabilities, indicating that innovation performance involves a sequential integration of capabilities.