Search results

The purpose of this research is to shed light on the chain of psychological and behavioral effects that precipitates from a materialistic state of mind. Specifically, this study examines the psychological impact of materialism on younger consumers and in turn, their compulsive buying (CB) habits. This study also proposes possible interventions that may enhance consumer resistance to materialism and buying impulses and, ultimately, protect consumers’ mental and financial well-being.

An online survey was assembled in Qualtrics using reputable scales from extant marketing and psychology literature. The survey was completed by 193 young adults. Structural equation modeling was used to evaluate the proposed model of psychological drivers of CB.

The results suggest that young, materialistic consumers are at high risk of developing depression. Moreover, obsessive-compulsive (OC) tendencies and impaired self-esteem (SE) resulting from this depression may facilitate and fuel CB addiction. Despite no evidence for a direct link between depression and CB, the results indicate that this particular relationship is fully mediated by OC behavior and low SE.

The discussion provides a detailed list of various behavioral modifications to help reduce consumer susceptibility to materialistic values and CB addiction.

This study contributes to consumer research by proposing an alternative conceptualization of the traditionally direct relationship assumed between materialism and CB in the literature. The facilitating roles of depression and its psychological byproducts (i.e. impaired SE and OC disorder) are examined as precursors of CB. Implications and suggestions for consumers battling CB addiction are provided.

The study hypothesized that the impact of board diversity on financial distress (FD) is not direct but rather mediated by the firm’s corporate social responsibility (CSR) activities. Consequently, the purpose of this study is to examine the impact of CSR as a mediator in the board diversity–FD relationship.

The study examined six board diversity dimensions – age, gender, nationality, education and tenure in 81 nonfinancial Pakistan Stock Exchange (PSX)-listed firms from 2010 to 2021. The CSR engagement of the sample firms is evaluated using a multidimensional financial approach and the likelihood of FD is computed using Altman’s Z-score. The system-generalized method of moments estimator is used to meet the study objectives. In addition, several tests are run to determine the robustness of the study’s findings.

Based on the procedure for mediation analysis outlined by Baron and Kenny (1986), the authors found that CSR is significantly inversely associated with the likelihood of FD. Second, board diversity variables age, gender and national diversity were positively associated with CSR. Third, board age, gender and national diversity are significantly inversely related to FD. Finally, it was found that there is partial mediation between board age diversity and FD, whereas full mediation is shown between board age diversity and FD and between board nationality diversity and FD.

This study provides practical insights into PSX’s board diversity for companies, regulators and policymakers.

This research studies the connection between board diversity and FD. In addition, the current study extended the analysis by testing for the first time the mediating role of CSR in the diversity–distress relationship, particularly in the context of an emerging economy.

This paper reviews economic and finance research on Islamic investments. In the course of our review, we focus on the following issues: the performance of Islamic stock indexes, Islamic finance–growth nexus and Islamic real-estate investment trust market.

This literature survey consists of two stages such as random and systematic. It begins with a random search of articles with the intention to explore the three different areas of Islamic banking and finance. In order to maintain some level of quality of the literature review, we explored inside citations of articles based on relevant and recent articles from SCOPUS and Web of Science.

This paper represents an attempt to organise current research on Islamic stock markets, Islamic finance-growth nexus and Islamic real-estate finance: (1) the first prevailing finding is that Islamic stock indices are less volatile than conventional stock indices; (2) most empirical studies regarding Islamic finance–growth nexus focus on the impacts of banking sectors on growth and neglect other segments of the Islamic financial market; (3) based on our review of existing studies, there is no unanimous model for Islamic home financing in Islamic banks.

The mixed findings in this area hinder the understanding of Islamic investment and prevent identifying trends that support decision-making. Our review provides suggestions for prospective research directions. Most empirical studies regarding Islamic finance–growth nexus focus on the impacts of banking sectors on growth and neglect other segments of the Islamic financial market.

There is no literature review on Islamic finance-growth nexus and Islamic real-estate literature. Therefore, we are going to fill this gap to review these three different aspects of Islamic banking and finance.

The purpose of this paper is to empirically investigate the impact of board financial expertise on the shareholding of foreign institutional investors in an emerging equity market of China and to explore whether ownership concentration moderates the relationship between board financial expertise and foreign institutional investment.

To test the hypothesized relationships, this study uses panel data regression models, i.e. static (fixed effect and random effect) and dynamic (two-step generalized methods of moments) models. Further, to control the possible endogeniety issue, this study uses two instrumental variables, namely, board size and industry average financial expertise of board to proxy board financial expertise. This study covers a period from 2006 to 2015 for 169 listed Chinese firms.

The results revealed that foreign institutional investors positively perceived board financial expertise and holds more shareholdings with the increasing level of financial experts at boards of directors. Moreover, ownership concentration positively moderated this relationship. It means that in highly concentrated firms, the board financial expertise conveys a stronger signal to foreign institutional investors that firms can manage financial resources rationally by controlling negative effects of ownership concentration. Further, the robustness model also confirmed the relationship between board financial expertise and foreign institutional shareholdings.

To the best of authors’ knowledge, this is the first study to investigate board-level financial expertise as a determinant of foreign institutional ownership. Further, no previous study has used ownership concentration as a contextual variable on the relationship between board financial expertise and foreign institutional investment.

This paper aims to present a conceptual model on the efficiency of Islamic real estate investment trusts (I-REITs) available in Malaysia. The key difference between the Islamic and their conventional investment vehicle part is mainly its own Shariah framework. For instance, I-REITS must comply with the requirement of Securities Commission Act 1993 as well as the Guidelines on Islamic Real Estate Investment Trusts (Islamic REITs Guidelines).

The paper reviews and synthesises the relevant literature on the performance analysis and efficiency measurements of REITs. The paper then develops and proposes a conceptual model to measure the efficiency of Malaysian and Islamic REITs.

The paper identifies and examines the appropriate methods and instruments to measure the efficiency in relation to the risk and profitability of I-REITs. The efficiency measure is important for the fund managers to maximise the shareholders’ return in an investment of property portfolio as well as proposing the best way to allocate resources efficiently.

This is a preliminary review of current work that identifies the issues that will be addressed in future empirical research. The authors will be undertaking this future empirical research in measuring the efficiency of Malaysian real estate investment trusts (M-REITs), particularly the I-REITs, using the non-parametric approach of data envelopment analysis.

To date, there has been very limited research on the efficiency measurement of I-REITs. The current analysis of REIT has been focused on traditional non-Islamic funds. This paper will review and discuss the current literature on efficiency measurement to determine the most appropriate approaches and methodologies for future application in performance analysis of efficiency measure for Malaysian and Islamic REITs.

This study aims to extensively investigate the efficiency of real estate investment trusts (REITs) in Saudi Arabia.

The study employs the data envelopment analysis on 17 Saudi REITs with an innovative profit-oriented approach in selecting REITs' inputs and outputs.

It is found that the traditional approach underestimates the efficiency of Saudi REITs in comparison with the profit-oriented approach, implying that relying on the traditional approach in assessing the efficiency of REITs will underestimate their efficiency and provide misleading results about their actual performance. However, both approaches showed that Saudi REITs are very efficient in utilizing their inputs, and the major source of their inefficiency is related to their scale inefficiency. Moreover, small Saudi REITs are more efficient than large ones. Finally, a higher level of debt is supposedly associated with lower levels of efficiency, indicating that Saudi REITs should not rely on debt funding because there is no tax advantage from using debt.

This paper has several contributions to the literature. First, it employs an innovative profit-oriented approach in selecting REITs' inputs and outputs. Second, this study focuses on analyzing the efficiency of REITs in Saudi Arabia, which is the largest country in the Middle East region, regarding size, stock market capitalization and gross domestic product. Finally, to the best of the author's knowledge, this is the first study to investigate the efficiency of REITs in Saudi Arabia, and it provides substantial information for REITs' investors and managers about the current efficiency of the Saudi REITs industry.