Safyan Majid, Faisal Abbas and Muhammad Nasir Malik
This study examines the connection between investor sentiment and corporate innovation in the United States, considering the magnitude of corporate information asymmetry, the…
Abstract
Purpose
This study examines the connection between investor sentiment and corporate innovation in the United States, considering the magnitude of corporate information asymmetry, the implied cost of capital and the financial constraints.
Design/methodology/approach
The authors employ a two-step GMM framework to examine the hypotheses of this study by utilizing annual data from 2001 to 2021 for US corporations.
Findings
The empirical evidence demonstrates a significant impact of investor sentiment on corporate innovation for firms with a lower information asymmetry and implied cost of capital than those with a higher information asymmetry and cost of capital. Although the financial constraint channel remained positive, it had little impact on the innovations of US corporations. Overall, the study's results show that companies make more valuable and high-quality patents when investors are optimistic.
Practical implications
This research has policy implications for all managers, investors, analysts and state officers, particularly in the USA and other developed countries. Managers and investors of all types should predict the role of corporate innovation in increasing shareholder wealth.
Originality/value
To the authors' knowledge, this is the first study to examine the relationship between investor sentiment and corporate innovation in the United States, considering the extent of corporate information asymmetry, the implied cost of capital and the financial limitations. The study's empirical findings uniquely contribute to the existing literature on corporate innovation and investor sentiment in the current context.
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Muhammad Irfan, Muhammad Jamaluddin Thaheem, Hamza Farooq Gabriel, Muhammad Sohail Anwar Malik and Abdur Rehman Nasir
The purpose of this research is to quantify the effect of stakeholder conflicts on project constraints in the construction industry using ordinal regression analysis. For this…
Abstract
Purpose
The purpose of this research is to quantify the effect of stakeholder conflicts on project constraints in the construction industry using ordinal regression analysis. For this purpose, the most significant project constraints and factors that cause stakeholder conflicts found in the literature are measured.
Design/methodology/approach
Factors causing stakeholder conflicts and project constraints are extracted through a content analysis of the published literature. Further, a questionnaire survey is conducted involving 170 professionals to assess the effect of conflicts on project constraints. Finally, to obtain a more objective assessment, a statistical model is developed, and to highlight the most severe factors causing conflict and impacting project constraints, ordinal regression analysis is performed.
Findings
The results show that in the construction industry, all project constraints are affected by stakeholder conflicts. Factors that result in stakeholder conflicts indicated a positive relationship with cost, time and resources. This means that any increase or decrease in the effect of stakeholder conflicts will directly influence these three project constraints. Similarly, a negative relationship was observed between stakeholder conflicts and quality, workforce productivity, protection of environment and safety regulations in the construction industry, indicating that increase in the effect of stakeholder conflicts will decrease these four project constraints and vice versa. The results for cumulative ordinal regression model highlight that lack of communication, poor quality of completed works and change orders and rework have intense effects on project constraints collectively.
Originality/value
A small number of studies have been undertaken to examine the emergence of project constraints in the developing countries. And even more, its relationship with stakeholder conflicts in the construction industry is limited. This research highlights the most significant project constraints and factors that result in stakeholder conflicts in the construction industry. Therefore, this study adds to the existing body of knowledge by developing an ordinal regression model that will help decision-makers and top management control this enigma of stakeholder conflicts in the construction industry.
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Shahzad Hussain, Muhammad Akbar, Qaisar Ali Malik, Tanveer Ahmad and Nasir Abbas
The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of…
Abstract
Purpose
The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of socio-political turbulence on this relationship through static and dynamic panel estimation models.
Design/methodology/approach
The evidence is based on a sample of 230 publicly listed non-financial firms from Pakistan Stock Exchange (PSX) over the period 2008–2018. Furthermore, this study analyzes the data through Blundell and Bond (1998) technique in the full sample as well sub-samples (big and small firms).
Findings
The authors document that corporate governance mechanism reduces the downside risk, whereas investor sentiment and financial liberalization increase the investors’ exposure toward downside risk. Particularly, the results provide some new insights that the socio-political turbulence as a moderator weakens the impact of corporate governance and strengthens the effect of investor sentiment and financial liberalization on downside risk. Consistent with prior studies, the analysis of sub-samples reveals some statistical variations in large and small-size sampled firms. Theoretically, the findings mainly support agency theory, noise trader theory and the Keynesians hypothesis.
Originality/value
Stock market volatility has become a prime area of concern for investors, policymakers and regulators in emerging economies. Primarily, the existence of market volatility is attributed to weak governance, irrational behavior of market participants, the liberation of financial policies and sociopolitical turbulence. Therefore, the present study provides simultaneous empirical evidence to determine whether corporate governance, investor sentiment and financial liberalization hinder or spur downside risk in an emerging economy. Furthermore, the work relates to a small number of studies that examine the role of socio-political turbulence as a moderator on the relationship of corporate governance, investor sentiment and financial liberalization with downside systematic risk.
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Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in…
Abstract
Purpose
Islamic finance and Halal product sectors are thriving successfully. This chapter is a general review of the perception of Asian consumers on Islamic finance and Halal sectors in the global Halal economy.
Methodology/approach
The first section will briefly describe the Halal concept in both Islamic finance and Halal industries, and the growth of both sectors in Asian countries. The second part highlights the review of Asian consumers’ perception towards Islamic finance products and Halal products.
Findings
The review found that the consumers’ perception towards the Islamic finance products and Halal products is distinctive. This is due to the diversity of Asian countries in terms of geography, religion, culture, ethnic, school of thoughts (madzahib), income per capita and government’s involvement.
Originality/value
The third part of the chapter concentrates on planning towards Halal marketing, which involves the move and future challenges in different layers of industries to gear up and strengthen the Halal economy.
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Muhammad Irfan, Muhammad Sohail Anwar Malik and Syyed Sami Ul Haq Kaka Khel
The purpose of this research is to rank the most significant factors of organizational structure that can reduce time and cost overruns (nonphysical waste) in road projects of the…
Abstract
Purpose
The purpose of this research is to rank the most significant factors of organizational structure that can reduce time and cost overruns (nonphysical waste) in road projects of the developing countries. Additionally, the effect of factors of organizational structure on nonphysical waste in road projects is also measured.
Design/methodology/approach
Factors of organizational structure causing time and cost overrun are extracted through a content analysis of the published literature. Moreover, a questionnaire survey is carried out involving 128 professionals to assess the effect of organizational structure factors on time and cost overrun. Finally, to obtain a more objective evaluation, relative importance index and regression analysis techniques are utilized, and the most severe factors influencing time and cost overrun are indicated.
Findings
This study found out that top management support and procurement procedures are the most significant factors influencing time and cost overruns in road projects of the developing countries.
Originality/value
A small number of studies have been conducted to investigate the effect of factors of organizational structure on time and cost overrun in the construction industry. And even more, its relation with respect to road projects of the developing countries is limited. This research highlights the effect of most significant factors of organizational structure that influence the nonphysical waste in road projects of the developing countries. Therefore, this study adds to the body of knowledge by recommending that all the stakeholders of construction project should pay close attention toward these factors to control the enigma of time and cost overrun. It might also prove helpful, if implemented to its full extent, in all the road construction activities undertaken.
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Saira Hanif Soroya, Malik Muhammad Yasir Iqbal, Muhammad Shahid Soroya and Khalid Mahmood
The study was designed to examine the predictors of information literacy self-efficacy skills (IL skills) of medical students.
Abstract
Purpose
The study was designed to examine the predictors of information literacy self-efficacy skills (IL skills) of medical students.
Design/methodology/approach
The study was quantitative in nature and was carried out by using survey research method. Wong and Law Emotional Intelligence Scale (WLEIS) and Information Literacy Self-Efficacy Scale for medical students (ILSES-M) were used to collect the data. Data was collected randomly from 223 out of 526 undergraduate medical students on proportionally random basis according to the number of students available in each year. PLS-SEM analysis was run with the help of SmartPLS 3.2.
Findings
The findings of the study revealed that three subconstructs for emotional intelligence (EI), that is, self-emotions appraisal, others-emotion appraisal, use of emotions, had a statistically significant positive impact (p < 0.05) on information literacy (IL) self-efficacy of the medical students. The findings further confirm that English language proficiency and frequency of attended IL instruction sessions also have a significant positive impact on IL self-efficacy of medical students.
Originality/value
The exploration of EI in relation to IL is comparatively a novel area. The study observed the influence of EI level on IL self-efficacy of medical students. The study will be a significant contribution to the IL literature. The results may help the information professionals/librarians, particularly those who are engaged in teaching and designing IL programs.
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Muhammad Sadiq and Malik Mansoor Ali Khalfan
This study aims to address the research gaps in the application of circular economy (CE) principles within the construction demolition industry (CDI) by providing an updated…
Abstract
Purpose
This study aims to address the research gaps in the application of circular economy (CE) principles within the construction demolition industry (CDI) by providing an updated overview of key themes, trends and challenges. Using a bibliometric approach, it seeks to highlight the transformative potential of CE adoption in CDI, focusing on strategies for waste reduction, resource efficiency and supply chain optimization to support sustainable development.
Design/methodology/approach
Bibliometric analysis using the Scopus database was employed to systematically review the literature on CE principles in the CDI from 2014 to 2023. The analysis involved a four-step assessment, including qualitative reviews and quantitative evaluations, to identify key themes, trends, challenges and opportunities in CE research within the CDI. The intricate relationship between CE principles with a specific emphasis on CDI, building practices and supply chain management was explored.
Findings
The findings underscore a significant emphasis on circularity principles, interdisciplinary collaboration and the integration of emerging technologies for efficient waste management. Experiencing a remarkable annual growth rate of 60.58%, particularly evident over the past five years, the escalating volume of relevant publications reflects an expanding interest in the CE within the CDI and related supply chain subjects. This underscores academia’s pivotal role in advancing the transition toward a circular construction economy.
Originality/value
The study recommends refining CE strategies by exploring the circular design paradigms, optimizing supply chains, integrating digital technologies, establishing standardized metrics and scrutinizing CE’s impact within the CDI.
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Sumreen Masood Khattak, Muhammad Zahid Iqbal, Malik Ikramullah and Muhammad Mustafa Raziq
This study examines the relationship between employees' perceptions of informational fairness and project performance. Furthermore, it examines if this relationship is…
Abstract
Purpose
This study examines the relationship between employees' perceptions of informational fairness and project performance. Furthermore, it examines if this relationship is sequentially mediated by (1) knowledge sharing and role clarity and (2) communication openness and role clarity.
Design/methodology/approach
Data are collected from 302 full-time employees of seven project-based construction organizations in Pakistan. Data are analyzed through variance-based structural equation modeling technique and the Preacher and Hayes' bootstrapping procedure.
Findings
Results indicate that project employees' perceptions of informational fairness positively predict project performance. Moreover, this relationship is sequentially mediated by (1) communication openness and role clarity and (2) knowledge sharing and role clarity.
Originality/value
This study provides further insights on the informational fairness and project performance relationship by examining their underlying mechanisms. It draws on the much ignored context of Pakistan, and offers some implications for managers and researchers with regard to how behavioral factors may further enhance project performance.
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Kaltume Mohammed Kamselem, Muhammad Shaheer Nuhu, Kamaldeen A.A Lawal, Amina Muhammad Liman and Mohammed Sani Abdullahi
This study investigated the effects of reward system (RS) and job conditions (JC) on employee retention (ER). In particular, this study addressed the mediating effect of employee…
Abstract
Purpose
This study investigated the effects of reward system (RS) and job conditions (JC) on employee retention (ER). In particular, this study addressed the mediating effect of employee engagement (EE) on the relationship between RS, JC and ER.
Design/methodology/approach
This paper employed descriptive survey approach and the unit of analysis consisted of public hospital nursing staff. Data were collected using questionnaires with a sample of 370 nurse respondents. Structural equation modelling with Smart-Partial Least Squares (PLS) 3.3.8 was used in a statistical analysis.
Findings
The results revealed that RS and JC significantly related to ER. The study also showed the direct effect of RS and JC on EE. These findings indicate that (EE) has a partial mediating role in the relationship between RS, JC and ER.
Practical implications
The study offers important policy insights for public nursing stakeholders who seek to increase retention of skills among their nursing staff. The findings are also crucial because they may help the health sector improve their ER strategies, especially in dynamic and competitive business situations where organisations are challenged to retain personnel from a limited skilled workforce.
Originality/value
The findings of this study contribute to the literature on retention of nursing employees by enhancing the understanding of the influences of EE, RS and JC on ER among public hospitals.