Muhammad Rehan and Mustafa Gül
This study aimed to examine the efficient market hypothesis (EMH) for the stock markets of 12 member countries of the Organization of Islamic Cooperation (OIC), such as Egypt…
Abstract
Purpose
This study aimed to examine the efficient market hypothesis (EMH) for the stock markets of 12 member countries of the Organization of Islamic Cooperation (OIC), such as Egypt, Indonesia, Jordan, Kuwait, Malaysia, Morocco, Pakistan, Saudi Arabia, Tunisia, Turkey and the United Arab Emirates (UAE), during the global financial crisis (GFC) and the COVID-19 (CV-19) epidemic. The objective was to classify the effects on individual indices.
Design/methodology/approach
The study employed the multifractal detrended fluctuation analysis (MF-DFA) on daily returns. After calculation and analysis, the data were then divided into two significant events: the GFC and the CV-19 pandemic. Additionally, the market deficiency measure (MDM) was utilized to assess and rank market efficiency.
Findings
The findings indicate that the average returns series exhibited persistent and non-persistent patterns during the GFC and the CV-19 pandemic, respectively. The study employed MF-DFA to analyze the sequence of normal returns. The results suggest that the average returns series displayed persistent and non-persistent patterns during the GFC and the CV-19 pandemic, respectively. Furthermore, all markets demonstrated efficiency during the two crisis periods, with Turkey and Tunisia exhibiting the highest and deepest levels of efficiency, respectively. The multifractal properties were influenced by long-range correlations and fat-tailed distributions, with the latter being the primary contributor. Moreover, the impact of the fat-tailed distribution on multifractality was found to be more pronounced for indices with lower market efficiency. In conclusion, this study categorizes indices with low market efficiency during both crisis periods, which subsequently affect the distribution of assets among shareholders in the stock markets of OIC member countries.
Practical implications
Multifractal patterns, especially the long memory property observed in stock markets, can assist investors in formulating profitable investment strategies. Additionally, this study will contribute to a better understanding of market trends during similar events should they occur in the future.
Originality/value
This research marks the initial effort to assess the impact of the GFC and the CV19 pandemic on the efficiency of stock markets in OIC countries. This undertaking is of paramount importance due to the potential destabilizing and harmful effects of these events on global financial markets and societal well-being. Furthermore, to the best of the authors’ knowledge, this study represents the first investigation utilizing the MFDFA method to analyze the primary stock markets of OIC countries, encompassing both the GFC and CV19 crises.
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Seval Kardeş Selimoğlu and Mehtap Altunel
Along with accounting scandals in the past, academics, researchers, and legislators have focused on fraud. The purpose of this study is to examine postgraduate and doctoral…
Abstract
Along with accounting scandals in the past, academics, researchers, and legislators have focused on fraud. The purpose of this study is to examine postgraduate and doctoral studies, articles, and books about forensic accounting and fraud audit published between the years 2008 and 2018 in Turkey. For this purpose, a total of 96 studies have been examined and 35 of these are master’s theses, 10 of them are PhD theses, 45 of them are articles, and six of them are books. These studies were presented in tables as classified. The studies examined in our research are summarized as year they were published, the author, and the scope of the topic and in terms of results. The conclusions of this study can be summarized as follows: (a) the majority of thesis published about forensic accounting and fraud audit are in 2011 and following years. In addition, most of the theses are focused on forensic accounting review rather than fraud audit. (b) Results in the articles reviewed are in the same direction with theses. (c) There are very few books about fraud audit and forensic accounting. One of them is related to fraud audit, while the rest of them are related to forensic accounting and forensic accounting profession. We suggest extending the scope of the study and making to other countries.
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Naveed R. Khan, Irum Gul, Mustafa Rehman Khan, Ismail Khan and Muhammad Umar
This study examines direct effect of leader-member exchange (LMEX) and learning orientation (LEOR) on workplace innovation (WPIN) and indirect effect between underline…
Abstract
Purpose
This study examines direct effect of leader-member exchange (LMEX) and learning orientation (LEOR) on workplace innovation (WPIN) and indirect effect between underline relationships in presence of mediators such as creative self-efficacy (CRSE), thrive at work (THAW), task interdependence (TAIN) work significance (WOSI) and creative performance (CRPE). Moreover, this study investigates the serial mediating effect of CRSE, WOSI, THAW, TAIN and CRPE between LMEX, LEOR and WPIN in entrepreneurial small and medium-sized enterprises (SMEs).
Design/methodology/approach
This study collected a total of 286 usable responses from entrepreneurial SMEs in three major business cities in Pakistan. In this cross-sectional study, data were gathered through self-administered surveys using purposive sampling approach and tested hypotheses using structural equation modeling (SEM).
Findings
The findings suggested insignificant direct effect of LMEX and LEOR on WPIN in the presence of mediators. Interestingly, CRSE, THAW, TAIN and CRPE were identified as significant mediators between LMEX, LEOR and WPIN. However, WOSI was found to be an insignificant mediator in the observed context. Moreover, the results revealed significant serial mediating effect of CRSE and CRPE with work context elements such as THAW and TAIN between LMEX, LEOR and WPIN, while serial mediating effect of WOSI in underline relationships found insignificant.
Practical implications
The study emphasizes that chief executive officers (CEOs) of entrepreneurial SMEs should prioritize individual, team and organizational factors to improve WPIN for competitiveness. Entrepreneurial management should focus on building strong relationships with employees to foster creativity and create a learning-oriented work environment that improves motivation and collaboration, thereby boosting employees' CRSE and CRPE, leading to enhanced WPIN.
Originality/value
This research offered a novel research framework and identified critical mediators and serial mediators between LMEX, LEOR and WPIN for entrepreneurial SMEs in developing countries, a domain grossly underrepresented in the literature.
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Mustafa Saritepeci, Hatice Yildiz Durak, Gül Özüdoğru and Nilüfer Atman Uslu
Online privacy pertains to an individual’s capacity to regulate and oversee the gathering and distribution of online information. Conversely, online privacy concern (OPC) pertains…
Abstract
Purpose
Online privacy pertains to an individual’s capacity to regulate and oversee the gathering and distribution of online information. Conversely, online privacy concern (OPC) pertains to the protection of personal information, along with the worries or convictions concerning potential risks and unfavorable outcomes associated with its collection, utilization and distribution. With a holistic approach to these relationships, this study aims to model the relationships between digital literacy (DL), digital data security awareness (DDSA) and OPC and how these relationships vary by gender.
Design/methodology/approach
The participants of this study are 2,835 university students. Data collection tools in the study consist of personal information form and three different scales. Partial least squares (PLS), structural equation modeling (SEM) and multi-group analysis (MGA) were used to test the framework determined in the context of the research purpose and to validate the proposed hypotheses.
Findings
DL has a direct and positive effect on digital data security awareness (DDSA), and DDSA has a positive effect on OPC. According to the MGA results, the hypothesis put forward in both male and female sub-samples was supported. The effect of DDSA on OPC is higher for males.
Originality/value
This study highlights the positive role of DL and perception of data security on OPC. In addition, MGA findings by gender reveal some differences between men and women.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/OIR-03-2023-0122
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Nevset Gul Canakcioglu and Alper Unlu
The primary objective of this study is to investigate the cognitive aspects of spatial experiences of paediatric inpatients who receive long-term treatment in a healthcare setting…
Abstract
Purpose
The primary objective of this study is to investigate the cognitive aspects of spatial experiences of paediatric inpatients who receive long-term treatment in a healthcare setting in relation to the syntactic parameters of healthcare environment. It is aimed to investigate how the change in the child’s cognition caused by the environmental stress experienced by the child during his/her stay in the hospital is related to the physical parameters of the treatment space.
Design/methodology/approach
The methodology of the study is based on a correlational analysis to identify the cognitive and syntactic factors of the healthcare environment that contribute to changes in the perceptual processes of a sample group of thirty children. The study examined the relationships between the graph and isovist variables, and the cognitive parameters of paediatric inpatients. The two datasets were subjected to regression analyses in order to identify any significant findings, which allowed for a discussion of how the patients’ changing perceptual processes are influenced by the syntactic measures of the healthcare setting.
Findings
The study showed that a syntactically intelligible floor plan contributes significantly to reducing environmental stress among paediatric inpatients. The presence of shared spaces within the healthcare environment, where social interaction with peers is possible, emerges as a crucial factor influencing children’s spatial perception. Additionally, the visibility characteristics of shared spaces may also play a key role in enhancing children’s perceptions of safety.
Research limitations/implications
The limitations of the study include the fact that the study was conducted in an oncology and haematology inpatient unit with challenging conditions in terms of the mobility potentials of the children, which might have affected their perceptual processes. A further limitation is that the sample size comprised only 30 children, and the spatial configuration of the healthcare environment was linear and not particularly complex.
Social implications
By identifying the impact of spatial design on children’s well-being, the study informs the creation and improvement of healthcare environments. Enhanced understanding of factors like intelligible floor plans, shared spaces and isovist values can lead to more child-friendly facilities, potentially alleviating stress for young patients. Consequently, this research may contribute to improved healthcare outcomes, increased comfort for paediatric inpatients, and a more supportive environment for their families, fostering a holistic approach to paediatric care and positively influencing the overall quality of life for children undergoing long-term treatment.
Originality/value
This study contributes to the theoretical discourse on how the constrained physical conditions of a paediatric healthcare environment may influence the perceptual processes of paediatric inpatients. The results of this evidence-based study have the potential to inform the evaluation of design guidelines for healthcare settings, with the ultimate aim of enhancing therapeutic environments.
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İlhan Dalcı, Huseyin Araslı, Mustafa Tümer and Sarvnaz Baradarani
The aim of this study is to explore whether there are statistically significant differences in the influence that various career‐choice factors may have on a decision to choose…
Abstract
Purpose
The aim of this study is to explore whether there are statistically significant differences in the influence that various career‐choice factors may have on a decision to choose accounting and non‐accounting majors in Iran. The findings derived from this study could assist accounting educators and professional accounting bodies to understand the reasons why students may want to choose an accounting major. In this regard, the findings could help accounting academics and the policy makers in the accounting sector in Iran and in other similar countries develop appropriate strategies to attract proper students into the accounting programs and to recruit bright accounting graduates into the accounting profession.
Design/methodology/approach
At the univariate level, t‐tests of significant differences were performed in order to investigate the similarities and differences between the accounting and non‐accounting students with respect to the importance placed on the career‐choice factors. At the multivariate level, discriminant analysis was conducted in order to find out the important determinants of the choice of an accounting major. Moreover, t‐test and ANOVA statistics were employed in order to explore whether differences in gender, age, and university affect each factor.
Findings
The results reveal that the accounting students attach profound importance to financial and job‐market factors and opinions of referents. Intrinsic factors, aptitude for and genuine interest in the subject, perception of the accounting course, and perception of the accounting profession are not found to have significant influence on students’ decision to major in accounting.
Originality/value
This study is unique in that it is the first empirical paper which explores Iranian students’ perceptions of the career‐choice factors in pursuing an accounting major.
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Sara Saggese, Fabrizia Sarto, Rosaria Romano and Riccardo Viganò
Building upon multiple theories (i.e. agency, signalling and human capital), this paper aims to explore the effects of directors’ education on audit fees and to assess the…
Abstract
Purpose
Building upon multiple theories (i.e. agency, signalling and human capital), this paper aims to explore the effects of directors’ education on audit fees and to assess the mediating role of audit committee (AC).
Design/methodology/approach
The authors use an econometric analysis of Italian-listed non-financial firms during the period 2012–2015 using single-mediator models through ordinary least squares and logit regressions. Moreover, the authors apply the path analysis with the bootstrap method to test the mediating effect.
Findings
Findings show that the directors’ level of education improves audit fees. Additionally, the presence of an AC and the financial expertise of its members mediate this relationship.
Practical implications
By offering insights into the implications for audit pricing of the board and AC human capital, the paper helps regulators and policy-makers to understand which characteristic of such governance bodies improves auditing quality and the provision of better financial reporting.
Originality/value
The study uses a unique data set hand-collected from multiple sources and advances the auditing literature by shedding light on the reasons behind the influence of directors’ characteristics on audit fees and on the role played by the AC.
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Abdurrahman Akdag, Gul Ozyilmaz and Ali Tuncay Ozyilmaz
The purpose of this paper is to evaluate and compare the protective, anticorrosion behaviors and electrochemically synthesis of poly(2-chloroaniline) (PCANI) and…
Abstract
Purpose
The purpose of this paper is to evaluate and compare the protective, anticorrosion behaviors and electrochemically synthesis of poly(2-chloroaniline) (PCANI) and poly(2-chloroaniline-co-aniline) P(CANI-co-ANI) films on thin zinc–iron plated carbon steel (CS).
Design/methodology/approach
Zinc–iron (ZnFe) alloy plating was successfully achieved on CS applying 3 mA constant current value. The PCANI and P(CANI-co-ANI) films on ZnFe-plated CS electrode were synthesized by cyclic voltammetry technique using monomer(s) containing 0.20 M sodium oxalate solution. The CS/ZnFe electrodes with and without PCANI or P(CANI-co-ANI) films were characterized using SEM and anodic linear sweep voltammograms. The anticorrosive behaviors of uncoated and coated electrodes were studied in 3.5 per cent NaCl solution by corrosion techniques which include open circuit potential measurements, the anodic polarization curves and alternative current electrochemical impedance spectroscopy (EIS) technique.
Findings
The protection efficiency values (E per cent) for CS/ZnFe, ZnCS/ZnFe/PCANI and CS/ZnFe/P(CANI-co-ANI) electrodes were calculated as 71.05, 84.53 and 92.79, respectively, after 168 h of immersion time. The results showed that P(CANI-co-ANI) coating on ZnFe-plated CS electrode exhibited higher corrosion resistance and provided better barrier property in comparison with PCANI coating and ZnFe alloy plating, in longer exposure time.
Originality/value
A number of reports on the synthesis and characterization of PANI have appeared in the literature during the past decade, but there is no such publication of PCANI. At the same time, the synthesis of PCANI onto the surface of metal alloy coating being the first of this kind, no such proceedings have been reported in the literature so far.
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Monther Eldaia, Mustafa Hanefah and Ainulashikin Marzuki
The purpose of this study is to examine the effect of Board of Directors Effectiveness (BODE) on the performance of Malaysian Takaful companies licensed by the Central Bank of…
Abstract
Purpose
The purpose of this study is to examine the effect of Board of Directors Effectiveness (BODE) on the performance of Malaysian Takaful companies licensed by the Central Bank of Malaysia. In addition, the study investigates the moderating effect of Shariah Committee Quality (SCQ) on the relationship between BODE and companies’ performance.
Design/methodology/approach
This study uses a sample of 11 Malaysian Takaful companies during the period of 2010-2017. While BDE and SCQ are measured using indices, performance is proxied using ROA and ROE. A panel fixed effect regression analysis is used to test the impact of the BDE on the financial performance of Malaysian Takaful companies and the moderator role of SCQ.
Findings
The main finding of this study shows a positive association between BDE and performance. More specifically, boards with a high presence of independent, Muslim and female directors positively contribute to the performance of Malaysian Takaful companies. Another interesting finding is related to the positive moderating effect of SCQ on the relationship between BDE and performance. This result indicates that a high level of SCQ combined with a high level of board effectiveness improve performance.
Practical implications
The finding is of great importance to stakeholders and policymakers to improve their board effectiveness and the quality of the Shariah committee to reduce agency costs and to improve the performance of Malaysian Takaful companies.
Originality/value
This study adds to the prior literature by investigating for the first time the relationship between BDE and performance and the interaction effect of SCQ on the performance of Malaysian Takaful companies.
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Muhammad Mohsin, Mad Nasir Shamsudin, Nasif Raza Jaffri, Muhammad Idrees and Khalid Jamil
The current study focuses on the relationship between total quality management (TQM) and sustainable performance (SP) and examines how TQM practices can facilitate firms'…
Abstract
Purpose
The current study focuses on the relationship between total quality management (TQM) and sustainable performance (SP) and examines how TQM practices can facilitate firms' achievement of sustainable performance. Knowledge management (KM), with its four dimensions, i.e. knowledge creation (KCR), knowledge acquisition (KAC), knowledge sharing (KSH) and knowledge application (KAP), is also an essential factor for organizations. Therefore, this study also focuses on the mediating role of KM in the relationship between TQM and sustainable performance.
Design/methodology/approach
This study used a survey method to collect data from the managers of 485 manufacturing SMEs working in five major industrial cities in Pakistan. Collected data were analyzed through PLS-SEM with the help of smart-PLS.
Findings
The study's findings reveal that TQM practices positively influence the environmental and economic sustainability of the firm. At the same time, there is no evidence that TQM practices positively affect the social sustainability of the firm. Results further elaborate that TQM practices significantly affect all four dimensions of KM. Moreover, KM positively affects the two dimensions of SP, i.e. economic and social sustainability, but surprisingly, the impact of KM on environmental sustainability is not found. Finally, results indicate the significant mediating role of KM between TQM and SP.
Originality/value
This study contributes to bridging research gaps in the literature and advances how TQM, directly and indirectly, helps firms improve sustainable performance via the mediating role of KM.