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Article
Publication date: 13 July 2010

Muhammad Zubair Abbasi

1054

Abstract

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International Journal of Law and Management, vol. 52 no. 4
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 13 November 2009

Muhammad Zubair Abbasi

The purpose of this paper is to analyse the Agency Theory in order to understand the true nature of the corporation by determining the respective roles of shareholders and…

3873

Abstract

Purpose

The purpose of this paper is to analyse the Agency Theory in order to understand the true nature of the corporation by determining the respective roles of shareholders and directors/managers within a corporation.

Design/methodology/approach

The paper compares the economists' depiction of the firm with the legal conception of the corporation. It then analyses the legal concept of ownership and proves that the shareholders are the owners of their shares only and not of the corporation which is a separate legal person. The theories of corporation and relevant case law are also analysed.

Findings

The analysis reveals that currently there are two distinct models of the corporation. The economists view a firm in terms of a nexus of contracts like a partnership where shareholders are the owners of the firm and the directors/managers are their agents. The law, on the other hand, regards the corporation as a separate legal entity with rights and liabilities of a natural person that is not subject to ownership. This doctrine of legal personality is the grund norm of corporate law from which other principles like limited liability, perpetual succession, transferability of shares and independent board are derived. However, both economic and legal models converge upon the purpose of corporation i.e. maximization of shareholders value.

Originality/value

The paper highlights the distinction between economic and legal models of the firm. It points out that from a legal perspective, neither the shareholders are the principals nor the managers are their agents as proposed by the Agency Theory. The economists assume conflict of interests between the shareholders and directors and devise mechanisms to reduce agency costs. Law, on the other hand, determines manifestly the rights and liabilities of each participant in corporate structure. The directors owe their duties to the corporation and manage it without interference from the shareholders. Such arrangement is a product of historical process and qualifies a corporation as a sui generis form of business organization.

Details

International Journal of Law and Management, vol. 51 no. 6
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 20 November 2024

Ummara Yousaf, Muhammad Faizan Khan, Ismail Khan, Muhammad Zubair Khan and Muhammad Nadeem Dogar

The purpose of this study endeavour is to delve into the perceptions and sense-making of both spiritually empowered leadership and workplace spirituality at the Akhuwat…

57

Abstract

Purpose

The purpose of this study endeavour is to delve into the perceptions and sense-making of both spiritually empowered leadership and workplace spirituality at the Akhuwat Foundation, a prominent social sector microfinance organization in the Muslim majority economy of Pakistan.

Design/methodology/approach

Using a qualitative research approach and an intrinsic instrumental case study research methodology, a series of 16 in-depth semi-structured interviews and three focus group discussions (each focus group contained five members) were conducted with employees and leaders at the Akhuwat Foundation of Pakistan from June 2020 to June 2021.

Findings

The findings from thematic data analysis show that the spiritual leadership at Akhuwat Foundation implemented workplace spirituality by creating a spiritual environment, such as brotherhood, at the workplace. Moreover, the employees exercise workplace spirituality by voluntarily performing their duties at lesser salaries. Alternatively, spiritual leaders care for employees by reducing organizational problems and improving their employees’ well-being.

Research limitations/implications

Although this research explores spiritual leadership and workplace spirituality in the national context of Pakistan, further investigation in other contexts is required to cross-check and validate the research findings.

Practical implications

Regulators and policymakers of organizations operating in Muslim-majority countries should focus on brotherhood, inspire employees through vision, resolve organizational challenges and create a spiritual environment for spiritual leadership and workplace spirituality to improve employee well-being, broader societal welfare and organization’s overall performance.

Originality/value

This study revealed new themes of workplace spirituality and spiritual leadership in the organizational context of a Muslim-majority country, Pakistan, identified context-specific themes and enhanced the theory of spiritual leadership and workplace spirituality.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Available. Open Access. Open Access
Article
Publication date: 28 May 2024

Asad Hassan Butt, Hassan Ahmad, Asif Muzaffar, Waseem Irshad, Muhammad Usman Mumtaz and Talha Zubair Ahmad Khan

This study aims to investigate how gamification, namely, WeChat’s cultural gifting function, improves emotional involvement among three generations (Y, X and silver) in mobile…

1655

Abstract

Purpose

This study aims to investigate how gamification, namely, WeChat’s cultural gifting function, improves emotional involvement among three generations (Y, X and silver) in mobile payments. It draws attention to the beneficial effects of cultural components and digital intimacy on gamified mobile payment systems.

Design/methodology/approach

The data were collected from Y, X and silver generation in Dalian, China. The users were well equipped with the WeChat pay features and had experience. The PLS-SEM software was used to assess the data.

Findings

The findings show that consumer word of mouth and loyalty are positively impacted by perceived utility, fun, and enjoyment. Besides, gamification components like fun and playfulness have a favourable effect on how useful mobile payments are judged to be. It demonstrates how delighted and ecstatic users are with WeChat Hongbao. In addition, the positive moderation effect of intimacy on the hypothesised connections shows that all three generations are likely to accept gamified money features. These results provide a substantial contribution to our comprehension of gamification in the context of mobile payment services for all three generations.

Originality/value

The study is distinctive because it focuses on how China’s three generations use WeChat Pay for routine transactions. The framework confirms that the gamification elements improve user performance and encourage continued usage of mobile payment systems.

Objetivo

Este estudio investiga cómo la gamificación, específicamente la función de regalos culturales de WeChat, mejora la participación emocional entre tres generaciones (Y, X y plata) en los pagos móviles. Se presta atención a los efectos beneficiosos de los componentes culturales y la intimidad digital en los sistemas de pago móvil gamificados.

Diseño/metodología/enfoque/Metodología/Enfoque

Los datos fueron recopilados de las generaciones Y, X y plata en Dalian, China. Los usuarios estaban familiarizados con las características de pago de WeChat y tenían experiencia. Se utilizó el software PLS-SEM para evaluar los datos.

Resultados

Los resultados muestran que la reputación y la lealtad del consumidor son positivamente influenciadas por la utilidad percibida, la diversión y el disfrute. Los componentes de gamificación, como la diversión y la jugabilidad, tienen un efecto favorable en cómo se juzga la utilidad de los pagos móviles. Se demuestra cuán encantados están los usuarios con WeChat Hongbao. Además, la moderación positiva de la intimidad en las relaciones supuestas muestra que las tres generaciones tienen probabilidades de aceptar las características de dinero gamificado. Estos resultados contribuyen sustancialmente a nuestra comprensión de la gamificación en el contexto de los servicios de pago móvil para las tres generaciones.

Originalidad

El estudio es novedoso ya que se centra en cómo las tres generaciones de China utilizan WeChat Pay para transacciones rutinarias. El marco confirma que los elementos de gamificación mejoran el rendimiento del usuario y fomentan el uso continuado de los sistemas de pago móvil.

目的

本研究探讨了游戏化, 即微信的文化赠送功能, 如何提高三代人(Y、X和银发族)在移动支付中的情感投入。它引起了人们对文化成分和数字亲密关系对游戏化移动支付系统的有益影响的注意。

设计/方法/途径

数据来自中国大连市的Y、X和银发族用户。用户对微信支付功能非常熟悉, 并具有使用经验。采用PLS-SEM软件对数据进行评估。

研究结果

结果表明, 消费者的口碑和忠诚度受到了感知效用、乐趣和享受的积极影响。乐趣和趣味等游戏化组件对移动支付的有用性评估产生了积极影响, 展示了用户对微信红包的喜悦和兴奋程度。此外, 亲密关系对假设连接的正向调节效应表明, 三代人都可能接受游戏化货币功能。这些结果为我们理解移动支付服务背景下游戏化对三代人的贡献提供了实质性的帮助。

创新性

该研究独特之处在于它着眼于中国三代人如何将微信支付用于日常交易。该框架证实了游戏化元素如何提高用户绩效并鼓励继续使用移动支付系统。

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Article
Publication date: 11 September 2019

Muhammad Ayub, Muhammad Yousaf Malik, Misbah Ijaz, Marei Saeed Alqarni and Ali Saeed Alqahtani

The purpose of this paper is to explore the novel aspects of activation energy in the nonlinearly convective flow of Walter-B nanofluid in view of Cattaneo–Christov…

110

Abstract

Purpose

The purpose of this paper is to explore the novel aspects of activation energy in the nonlinearly convective flow of Walter-B nanofluid in view of Cattaneo–Christov double-diffusion model over a permeable stretched sheet. Features of nonlinear thermal radiation, dual stratification, non-uniform heat generation/absorption, MHD and binary chemical reaction are also evaluated for present flow problem. Walter-B nanomaterial model is employed to describe the significant slip mechanism of Brownian and thermophoresis diffusions. Generalized Fourier’s and Fick’s laws are examined through Cattaneo–Christov double-diffusion model. Modified Arrhenius formula for activation energy is also implemented.

Design/methodology/approach

Several techniques are employed for solving nonlinear differential equations. The authors have used a homotopy technique (HAM) for our nonlinear problem to get convergent solutions. The homotopy analysis method (HAM) is a semi-analytical technique to solve nonlinear coupled ordinary/partial differential equations. The capability of the HAM to naturally display convergence of the series solution is unusual in analytical and semi-analytic approaches to nonlinear partial differential equations. This analytical method has the following great advantages over other techniques:

  • It provides a series solution without depending upon small/large physical parameters and applicable for not only weakly but also strongly nonlinear problems.

  • It guarantees the convergence of series solutions for nonlinear problems.

  • It provides us a great choice to select the base function of the required solution and the corresponding auxiliary linear operator of the homotopy.

It provides a series solution without depending upon small/large physical parameters and applicable for not only weakly but also strongly nonlinear problems.

It guarantees the convergence of series solutions for nonlinear problems.

It provides us a great choice to select the base function of the required solution and the corresponding auxiliary linear operator of the homotopy.

Brief mathematical description of HAM technique (Liao, 2012; Mabood et al., 2016) is as follows. For a general nonlinear equation:

(1) N [ u ( x ) ] = 0 ,

where N denotes a nonlinear operator, x the independent variables and u(x) is an unknown function, respectively. By means of generalizing the traditional homotopy method, Liao (1992) creates the so-called zero-order deformation equation:

(2) ( 1 q ) L [ u ˆ ( x ; q ) u o ( x ) ] = q h H ( x ) N [ u ˆ ( x ; q ) ] ,

here q∈[0, 1] is the embedding parameter, H(x) ≠ 0 is an auxiliary function, h(≠ 0) is a nonzero parameter, L is an auxiliary linear operator, uo(x) is an initial guess of u(x) and u ˆ ( x ; q ) is an unknown function, respectively. It is significant that one has great freedom to choose auxiliary things in HAM. Noticeably, when q=0 and q=1, following holds:

(3) u ˆ ( x ; 0 ) = u o ( x )andu ˆ ( x ; 1 ) = u ( x ) ,

Expanding u ˆ ( x ; q ) in Taylor series with respect to (q), we have:

(4) u ˆ ( x ; q ) = u o ( x ) + m = 1 u m ( x )q m , whereu m ( x ) = 1 m ! mu ˆ ( x ; q ) q m | q = 0 .

If the initial guess, the auxiliary linear operator, the auxiliary h and the auxiliary function are selected properly, then the series (4) converges at q=1, then we have:

(5) u ( x ) = u o ( x ) + m = 1 + u m ( x ) .

By defining a vector u = ( u o ( x ) , u 1 ( x ) , u 2 ( x ) , , u n ( x ) ) , and differentiating Equation (2) m-times with respect to (q) and then setting q=0, we obtain the mth-order deformation equation:

(6) L [ u ˆ m ( x ) χ m u m 1 ( x ) ] = h H ( x ) R m [ u m 1 ] ,

where:

(7) R m [ u m 1 ] = 1 ( m 1 ) ! m 1 N [ u ( x ; q ) ] q m 1 | q = 0andχ m = | 0m 11m > 1 .

Applying L−1 on both sides of Equation (6), we get:

(8) u m ( x ) = χ m u m 1 ( x ) + hL 1 [ H ( x ) R m [ u m 1 ] ] .

In this way, we obtain um for m ⩾ 1, at mth-order, we have:

(9) u ( x ) = m = 1 M u m ( x ) .

Findings

It is evident from obtained results that the nanoparticle concentration field is directly proportional to the chemical reaction with activation energy. Additionally, both temperature and concentration distributions are declining functions of thermal and solutal stratification parameters (P1) and (P2), respectively. Moreover, temperature Θ(Ω1) enhances for greater values of Brownian motion parameter (Nb), non-uniform heat source/sink parameter (B1) and thermophoresis factor (Nt). Reverse behavior of concentration ϒ(Ω1) field is remarked in view of (Nb) and (Nt). Graphs and tables are also constructed to analyze the effect of different flow parameters on skin friction coefficient, local Nusselt number, Sherwood numbers, velocity, temperature and concentration fields.

Originality/value

The novelty of the present problem is to inspect the Arrhenius activation energy phenomena for viscoelastic Walter-B nanofluid model with additional features of nonlinear thermal radiation, non-uniform heat generation/absorption, nonlinear mixed convection, thermal and solutal stratification. The novel aspect of binary chemical reaction is analyzed to characterize the impact of activation energy in the presence of Cattaneo–Christov double-diffusion model. The mathematical model of Buongiorno is employed to incorporate Brownian motion and thermophoresis effects due to nanoparticles.

Details

Multidiscipline Modeling in Materials and Structures, vol. 16 no. 1
Type: Research Article
ISSN: 1573-6105

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Article
Publication date: 3 June 2019

Muhammad Waqas, Saira Naz, Tasawar Hayat, Sabir Ali Shehzad and Ahmed Alsaedi

The purpose of this paper is to introduce the concept of improved Fourier–Fick laws subjected to variable fluid characteristics. Flow analysis in the stagnation region of…

127

Abstract

Purpose

The purpose of this paper is to introduce the concept of improved Fourier–Fick laws subjected to variable fluid characteristics. Flow analysis in the stagnation region of Oldroyd-B fluid is elaborated. Heat generation is present.

Design/methodology/approach

Optimal homotopy analysis method is used to obtain convergent solutions.

Findings

The outcomes reveal reduction in penetration depths of temperature and concentration due to involvement of thermal and solutal relaxation times of fluxes.

Originality/value

As per the authors’ knowledge, such analysis has not yet been reported.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 29 no. 6
Type: Research Article
ISSN: 0961-5539

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Article
Publication date: 14 March 2023

Muhamad Firdaus Ab Rahman, Hussein ‘Azeemi Abdullah Thaidi, Farhana Mohamad Suhaimi and Siti Farahiyah Ab Rahim

This study aims to propose a temporary waqf model for family waqf by establishing its application parameters, which may facilitate the management of family waqf in Malaysia and…

724

Abstract

Purpose

This study aims to propose a temporary waqf model for family waqf by establishing its application parameters, which may facilitate the management of family waqf in Malaysia and encourage new donors to establish waqf.

Design/methodology/approach

A qualitative methodology was employed to analyse the data through deductive and field research methods. For field research, this study conducted semi-structured interviews with the Waqf Corporations and Mufti's Department in the selected states within Malaysia.

Findings

Results drawn from the interview's findings are that creating family waqf in Malaysia is hindered by several obstacles, including family waqfs not serving the public interest but rather their descendants, and family waqfs have been practised in perpetuity. Besides, inefficient management of family waqf and a lack of an effective mechanism and parameter exists. Therefore, this study presented a conceptual framework for a temporary cash waqf model for family waqf along with the parameters that can be used to implement it. The temporary waqf is a strategy to develop waqf property and the interests of creators, beneficiaries and trustees. Temporary waqf merged into the family waqf yields benefits to the family waqf.

Research limitations/implications

Because of Malaysia's Waqf Regulation and Administration, this study was confined to selected states. This study has broadened the scope of temporary family waqf, including moveable, immovable property and cash waqf.

Practical implications

This study presented a temporary waqf model for family waqf as a realistic mechanism and criterion for its practical implementation in Malaysia.

Social implications

This study could encourage new donors to establish waqf.

Originality/value

This study’s novelty lies in its attempt to highlight the importance of the temporary waqf model as a practical mechanism with holistic principles for its implementation in Malaysia to benefit the donors, their families and trustees. In addition to family waqf, numerous temporary waqfs may be established, in which the income or usufruct is shared proportionally, such as charitable waqf (waqf khairi), private waqf (waqf khas) and joint waqf (waqf mushtarak).

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Available. Open Access. Open Access
Article
Publication date: 2 May 2023

Muhammad Sholihin, Catur Sugiyanto and Akhmad Akbar Susamto

This paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the…

1914

Abstract

Purpose

This paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the descriptions of homo Islamicus.

Design/methodology/approach

In this paper prespecified eligibility criteria are applied to select articles that are indexed in Scopus and ProQuest, or published by two major publishers, ScienceDirect and Emerald, or appear on ResearchGate. A set of books related to homo Islamicus was also used as secondary sources to support the selected articles. As a result, this paper systematically reviews 53 articles and four books to synthesize the homo Islamicus.

Findings

There are four notions of homo Islamicus: Firstly, homo Islamicus as the kind of economic agent that is required to achieve Islamic economic objectives. Secondly, homo Islamicus as a defining factor that makes the difference between Islamic and conventional economics. Thirdly, homo Islamicus as an economic agent whose characteristics are something Islamic economics aims to realize. Lastly, homo Islamicus as an economic agent representing the fundamental assumption in Islamic economics.

Practical implications

Mapping homo Islamicus can be helpful for future researchers to conduct analyses related to homo Islamicus, especially in the context of empirical studies of the existence of homo Islamicus in economic reality. This literature review can help other researchers to understand the development of literature related to homo Islamicus.

Originality/value

This paper seems to be the first to systematically identify, select and synthesize the description of homo Islamicus in the literature.

Details

Islamic Economic Studies, vol. 30 no. 2
Type: Research Article
ISSN: 1319-1616

Keywords

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Article
Publication date: 24 August 2021

Muhammad Faisal Javed, Mohammed Jameel, Muhammad Ijaz Khan, Sumaira Qayyum, Niaz B. Khan and Tufail Ahmad Khan

This study aims to focus on second grade fluid flow over a rotating disk in the presence of chemical reaction. Uniform magnetic field is also taken into account. Because of the…

100

Abstract

Purpose

This study aims to focus on second grade fluid flow over a rotating disk in the presence of chemical reaction. Uniform magnetic field is also taken into account. Because of the smaller magnetic Reynolds number, induced magnetic field is negligible. Heat equation is constructed by considering heat source/sink.

Design/methodology/approach

Suitable variables are used to transform nonlinear partial differential equations to ordinary ones. Convergent series solutions are attained by applying homotopy analysis method.

Findings

Trends of different parameters on concentration, velocity and temperature are shown graphically. Skin friction coefficient and local Nusselt number are calculated and investigated under the effect of elaborated parameters. An elevation in the value of magnetic field parameter causes collapse in the velocity distributions. Velocity distribution in increasing function of viscoelastic parameter. Temperature and concentration profiles are decreasing functions of viscoelastic parameter. Concentration distribution reduces by increasing the chemical reaction parameter. There is more surface drag force for larger M, while opposite behavior is noted for β.

Originality/value

To the best of the authors’ knowledge, such consideration is yet to be published in the literature.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 31 no. 11
Type: Research Article
ISSN: 0961-5539

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Article
Publication date: 20 April 2020

G. Sowmya, Gireesha B.J., Muhammad Ijaz Khan, Shaher Momani and Tasawar Hayat

The purpose of this study is to conduct a numerical computation to analyse the thermal attribute and heat transfer phenomenon of a fully wetted porous fin of a longitudinal…

87

Abstract

Purpose

The purpose of this study is to conduct a numerical computation to analyse the thermal attribute and heat transfer phenomenon of a fully wetted porous fin of a longitudinal profile. The fin considered is that of a functionally graded material (FGM). Based on the spatial dependency of thermal conductivity, three cases such as linear, quadratic and exponential FGMs are analysed.

Design/methodology/approach

The governing equations are nondimensionalised and solved by applying Runge-Kutta-Fehlberg fourth-fifth order technique.

Findings

The parametric investigation is executed to access the significance of the pertinent parameters on the thermal feature of the fin and heat transmit rate. The outcomes are portrayed in a graphical form.

Originality/value

No such study has yet been published in the literature.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 30 no. 12
Type: Research Article
ISSN: 0961-5539

Keywords

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