Keming Li, Mohammad Riaz Uddin and J. David Diltz
Prior research has documented the role of information uncertainty in the cross-sectional variation in stock returns. Miller (1977) hypothesizes that if information uncertainty is…
Abstract
Purpose
Prior research has documented the role of information uncertainty in the cross-sectional variation in stock returns. Miller (1977) hypothesizes that if information uncertainty is caused by differences of opinion, prices will reflect only the positive beliefs due to short-sale constraints. These anomalous stock price behaviors may result from mispricing. In contrast, Merton (1974) asserts that default risk is a function of the uncertainty in the asset value process. Information uncertainty may be subsumed by credit or default risk. The paper aims to discuss these issues.
Design/methodology/approach
The authors employ various sorting techniques and Fama-MacBeth Regressions to test the hypotheses.
Findings
The authors provide empirical evidence consistent with Merton’s (1974) default risk hypothesis and inconsistent with Miller’s (1977) mispricing hypothesis.
Research limitations/implications
Risk aversion and not misplacing is the primary factor driving information-related anomalies in equities markets.
Practical implications
It would be quite difficult to find arbitrage opportunities in equities markets because there appears to be little, if any, mis-pricing due to information uncertainties.
Originality/value
This study provides important information about the primary underlying information-related source of certain empirical anomalies in the cross-section of stock returns.
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Md Shamim Hossain, Mst Farjana Rahman, Md Kutub Uddin and Md Kamal Hossain
There is a strong prerequisite for organizations to analyze customer review behavior to evaluate the competitive business environment. The purpose of this study is to analyze and…
Abstract
Purpose
There is a strong prerequisite for organizations to analyze customer review behavior to evaluate the competitive business environment. The purpose of this study is to analyze and predict customer reviews of halal restaurants using machine learning (ML) approaches.
Design/methodology/approach
The authors collected customer review data from the Yelp website. The authors filtered the reviews of only halal restaurants from the original data set. Following cleaning, the filtered review texts were classified as positive, neutral or negative sentiments, and those sentiments were scored using the AFINN and VADER sentiment algorithms. Also, the current study applies four machine learning methods to classify each review toward halal restaurants into its sentiment class.
Findings
The experiment showed that most of the customer reviews toward halal restaurants were positive. The authors also discovered that all of the methods (decision tree, linear support vector machine, logistic regression and random forest classifier) can correctly classify the review text into sentiment class, but logistic regression outperforms the others in terms of accuracy.
Practical implications
The results facilitate halal restaurateurs in identifying customer review behavior.
Social implications
Sentiment and emotions, according to appraisal theory, form the basis for all interactions, facilitating cognitive functions and supporting prospective customers in making sense of experiences. Emotion theory also describes human affective states that determine motives and actions. The study looks at how potential customers might react to a halal restaurant’s consensus on social media based on reviewers’ opinions of halal restaurants because emotions can be conveyed through reviews.
Originality/value
This study applies machine learning approaches to analyze and predict customer sentiment based on the review texts toward halal restaurants.
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Pakistan's present war against extremists has many folds and sheds. The country's initial participation in the Afghan War in 1979 later gave birth to different extremist trends in…
Abstract
Pakistan's present war against extremists has many folds and sheds. The country's initial participation in the Afghan War in 1979 later gave birth to different extremist trends in the country. State patronage of the extremist Wahabi Islamists during the Afghan jihad opened another conflict in Pakistan, and things became more complicated. The combination of external and internal factors gave birth to the worst kind of conflict, which now has not only become dangerous for the country's own existence but also a major threat for global peace. The Afghan jihad initially started as a war against Soviet occupation and later became the hub of global jihad-war against infidels.
This chapter analyzes how external factors promoted internal contradictions in Pakistan due to which the country became not only an exporter of jihadis for the world but also the worst kind of sectarian conflicts, including. Shia–Sunni, Deobandi–Wahabi clashes, entered into in the past two decades. Such a strong link exists with Pakistan's official support to global jihad. Draft sectarian groups now head to head with their opponents have killed thousands of members of rival sectors, have strong support from external sympathizers, and have spread in the country. The well planned terrorist activities of these groups reflect the fact that support to these groups in the past is now leading to a severe crisis in Pakistan. The nexuses of these indigenous extremists like Lashkar-e-Jhangvi, Lashkar-e-Taiba, Tehrik-e-Taliban Pakistan, and Hizb-ul-Mujahideen with external terrorist organizations like Al-Qaeda, the Taliban, and Islamic Movement of Uzbekistan of Tahir Yuldasher Chechen Guerilla War has led to several bloody clashes in the country and outside.
Jihad Mohammad and Farzana Quoquab
The purpose of this paper is to highlight the underlying values of Islamic work ethic (IWE) that distinguish it from other ethical perspectives such as Protestant work ethic…
Abstract
Purpose
The purpose of this paper is to highlight the underlying values of Islamic work ethic (IWE) that distinguish it from other ethical perspectives such as Protestant work ethic (PWE), Hindu work ethic (HWE) and/or Buddhist work ethic (BWE).
Design/methodology/approach
The present study utilized the critical review approach to answer the research questions. In this regard, guidance was sought from the Holy Quran and Sunnah to understand the Islamic ordainments pertaining to IWE. Moreover, articles related to different ethical systems are exhaustively reviewed.
Findings
Based on the literature review pertaining to the different ethical systems, this study highlights five specific distinguishing values and behavior: emphasis on halal and haram, emphasis on the purity of intention, seeking of employment, the nature of employer–employee relationship and dealing with sexual harassment.
Practical implications
Multinational and local organizations are strongly recommended to comprehend and grasp different ethical background of their employees to meet and satisfy their physical and spiritual needs. As a result, it may enhance and boost the effectiveness, efficiency and productivity of the organizations.
Originality/value
This study has its merits in term of identifying the distinguishing aspects of IWE from other ethical systems. There is a paucity of research that examines these differentiating values. Therefore, the research question “what are the underlying factors that differentiate IWE from PWE, HWE and/or BWE?” is still unanswered. The present research is an attempt to answer this question. The findings of this study will enable the researchers to come out with a comprehensive and complete definition of IWE construct. Moreover, it will be useful to refine the existing IWE scale by emphasizing the distinguishing aspects of the construct.
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Razia Fakir Mohammad, Preeta Hinduja and Sohni Siddiqui
The pandemic's health and social issues have significantly altered the character and manner of teaching and learning in higher education across the country. The use of technology…
Abstract
Purpose
The pandemic's health and social issues have significantly altered the character and manner of teaching and learning in higher education across the country. The use of technology to replace or integrate face-to-face learning with online learning has become a necessary requirement for promoting and continuing learning processes. Furthermore, integrating technology is a goal of Sustainable Development Goal 4 (SDG 4) to make teaching and learning more innovative and sophisticated. This paper is based on a systematic review grounded in a synthesis of research papers and documents analyzing the current status of teachers' pedagogy through online learning modes in the context of Pakistan.
Design/methodology/approach
Through content analyses of academic studies in higher education and reflection on the online teaching experiences, this study discusses how students' learning is associated with teachers' teaching approaches in the modern era of digitalization and innovation.
Findings
The review and analysis suggest that online teaching is not viewed as an innovative phenomenon; rather, teachers simply teach their traditionally designed face-to-face courses through the use of technology. The paper suggests that transforming teachers' pedagogical insight to make online learning sustainable is an urgent need for higher education.
Originality/value
The analysis provides a basis for consideration of teacher learning and quality education (SDG #4) to fulfill the nation’s agenda for sustainable development. The analysis helps educators and administrators in higher education institutions reflect on their policies and practices that have short- and long-term effects on students' learning outcomes.
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Islamic finance growth depends on factors that are crucial for fostering positive perceptions and increasing acceptance, particularly in Muslim countries. This study aims to…
Abstract
Purpose
Islamic finance growth depends on factors that are crucial for fostering positive perceptions and increasing acceptance, particularly in Muslim countries. This study aims to investigate the influence of awareness, knowledge, religion and the advantages on perceptions of Shariah scholars toward Islamic banks in Pakistan and the mediating role of attitude.
Design/methodology/approach
The study collected data through a questionnaire from 200 Shariah scholars in Pakistan who have completed or are currently enrolled in Islamic banking and finance courses. It employed exploratory and confirmatory factor analyses using SPSS and AMOS software to analyze the data to evaluate measurement and structural models, ensuring the validity and reliability of the constructs and testing hypotheses to examine the relationships among factors and perception.
Findings
The study identified a significant influence of knowledge and attitude on perception, thus supporting H3 and H9. H2, H6 and H8 indicate an insignificant impact of awareness, religious motivation and advantage on perception. This highlights the need for Islamic banks to bridge academic and industry gaps, ensuring that their promotional efforts emphasize monitoring by Sharia committees. The research revealed significant impacts of factors on attitude, confirming H1, H3, H5 and H7. Importantly, attitude was found to play a pivotal role as a mediator between factors and Shariah scholars’ perceptions of Islamic banking in Pakistan.
Research limitations/implications
By investigating the perspectives of Shariah scholars, this research seeks to provide insights into enhancing the understanding and development of Islamic banking practices within the context of Islamic principles and global financial landscapes.
Originality/value
This research contributes to the field by uniquely focusing on Shariah scholars’ perceptions of Islamic banking, addressing a significant gap in literature because little research has been conducted to address these issues from the Shariah scholars’ perspectives.
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Library automation is required in academic libraries to meet the dynamic demands of clients. This study aims to investigate the level of clients’ satisfaction of Sam Jonah library…
Abstract
Purpose
Library automation is required in academic libraries to meet the dynamic demands of clients. This study aims to investigate the level of clients’ satisfaction of Sam Jonah library automation.
Design/methodology/approach
The study utilized the descriptive research design by using an exploratory case study research method. A disproportionate stratified random sampling was used to select 322 respondents (undergraduates, postgraduates and lecturers/researchers) who consented to participate in the study. Questionnaire and informal interview were used for the data collection.
Findings
The study showed that more than half of the clients of Sam Jonah library were moderately satisfied with the library’s automation. Clients mostly access internet/Wi-Fi and reference service. Patronage of the services including photocopying, borrowing of books (circulation), e-resources/academic databases, institutional repository, library website and the OPAC was not encouraging. Increase in user education was recommended to improve their usage.
Research limitations/implications
The study was limited to only one academic library, namely, Sam Jonah library of the University of Cape Coast, Ghana.
Originality/value
The study provides insight into a case study of satisfactory level of clients in accessing automated services of Sam Jonah Library to serve as a basis for further research.
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Mohammad Mominul Islam and Mostofa Mahmud Hasan
While the Noble Quran dictates the prohibition of interest, conventional banks promote Islamic banking by opening Islamic banking windows. Against this backdrop, this study aims…
Abstract
Purpose
While the Noble Quran dictates the prohibition of interest, conventional banks promote Islamic banking by opening Islamic banking windows. Against this backdrop, this study aims to investigate the perceived gaps between managers and clients in Islamic marketing and banking, focusing on conventional banks’ Islamic banking windows.
Design/methodology/approach
Guided by a qualitative approach, semi-structured personal interviews and observations served as the data collection methods, involving 25 banks and 50 respondents in 3 different districts, namely, Shirajganj, Rajshahi and Chapainawabganj of Bangladesh from January to October 2023. The data were analysed using ATLAS.ti 2023 to explore codes and quotations derived from 14 interview questions. Further, ATLAS.ti 2023 facilitated synthesizing content, concepts, code occurrence, network analysis and thematic analysis.
Findings
Islamic and non-Islamic banks use Quranic verses, hadiths (prophetic traditions), images of mosques, the Kaaba and Arabic texts as Islamic marketing tools. These spiritual, divine and prescriptive tools are associated with Islamic banking. However, conventional banks receive criticism for having separate Islamic banking windows to serve religiously conscious clients, which generates tension among clients and bank managers.
Practical implications
The findings can theoretically assist academics in examining conventional banks’ Islamic marketing and banking practices, opening Islamic banking windows. Importantly, Shariah boards can play policy roles in safeguarding the function of Islamic marketing and banking. Managers can use the findings to anticipate client perceptions and enhance Islamic marketing and banking strategies. Likewise, the social implications include the explicit stance of Shariah to mitigate the mixture of halal and haram banking.
Originality/value
This pioneering study explores the perspectives of Islamic banking windows by non-Islamic banks. The combination of Islamic marketing and banking is a noteworthy novelty in this study and deserves recognition for its unique contribution to halal marketing and finance.
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This study aims to examine the impact of smart talent management (STM) on the performance of small and medium-sized enterprises (SMEs), which is mediated by providing an adoption…
Abstract
Purpose
This study aims to examine the impact of smart talent management (STM) on the performance of small and medium-sized enterprises (SMEs), which is mediated by providing an adoption innovation climate, and to verify the moderate power of adoption motivational culture on STM and SMEs performance (SMEsP).
Design/methodology/approach
The quantitative methodology was adopted through an online survey questionnaire to collect data from SMEs listed in Chambers of Commerce and Industry located in Jordan, the United Arab of Emirates and Kind Saudi Arabia in the Middle East region. Responses were collected from 163 firms out of 568, representing a 28.7% response rate. The data were analyzed using the structural equation modeling technique to test the hypotheses.
Findings
The results of this study fail to support the view that STM has a positive and significant effect on SMEs’ performance, as well as the adoption of motivational culture strengthened the relationship between STM and SMEsP. In addition, the adoption of motivational culture strengthened the relationship between STM and SMEs’ performance.
Originality/value
This research extends the application of cognitive social theory, whereby STM functions as a value-adding activity within SMEs. This research extends the application of cognitive social theory, where STM functions as a value-adding activity within SMEs.