The purpose of this study is to investigate the effect of trade integration on Pakistan’s export performance (value of exports, number of exporters and number of products per…
Abstract
Purpose
The purpose of this study is to investigate the effect of trade integration on Pakistan’s export performance (value of exports, number of exporters and number of products per exporter) during 2003 to 2010.
Design/methodology/approach
Data from the World Bank Exporters Dynamics Database are analysed using fixed effect panel data techniques.
Findings
The results suggest that trade integration with South Asian Free Trade Area (SAFTA), China and Iran play remarkable role in improving export value by 73, 29 and 55 per cent, respectively. It is found that on average more than 140 and 339 exporters increase after integration with SAFTA and China, respectively, and during the study period, 1,605 and 606 exporters entered into SAFTA and Chinese market, respectively. Moreover, 182 and 146 additional exporters entered in Malaysian and Iranian export market after integration, which is 19 and 98 per cent, respectively, of initial year’s number of exporters. In addition, Malaysia and Mauritius show positive and considerable effect on diversification of product variety.
Originality/value
This is an original empirical research. The contributions of the paper are many fold: this paper is first to analyse the effect of Pakistan’s trade integration established during 2000s decade; pioneer contribution of this study is to use the number of exporters and number of products, as well as the value of exports to measure the export performance of Pakistan; and this study uses positive and negative discrepancies in export value data, number of HS6 products exported as a proxy of product diversification, share of industrial exports in total exports and share of textile exports in industrial exports.
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Roslina Mohamad Shafi and Yan-Ling Tan
This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.
Abstract
Purpose
This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.
Design/methodology/approach
A bibliometric analysis was applied based on selected publications from the Web of Science Core Collection (WoSCC) database from 2000 to 2021. The study adopted VOSviewer software which was developed by Leiden University.
Findings
This study has some implications that need urgent action. Firstly, there are some areas that have received little attention among researchers, although they are relevant to the industry, for instance, in fintech and blockchain in ICM. Secondly, the inconsistent frequency of publications in some niche areas may suggest that there are unprecedented events that hinder further research; probably, the researcher may anticipate more information and progress in the industry. Thirdly, the need to strengthen the collaboration between industry and academia to advance research.
Research limitations/implications
This study considered only the WoSCC database. The provider of WoSCC is Clarivate (formerly known as Thomson Reuters), where access to publications is limited to institutional subscribers. The implications of this study are to identify and propose future research trends in the field of ICM.
Originality/value
To the best of the authors’ knowledge, the present study is among the pioneer studies in analysing bibliometric focusing on ICM. Previous research has focused on Islamic finance and banking, and not specifically on ICM. Accordingly, this study sheds light on research gaps in ICM.
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Shaista Noor and Bushra Qureshi
The purpose of this study to highlight the changing living patterns in the Pakistani community from joint family to nuclear family setup which is becoming the main reason for the…
Abstract
Purpose
The purpose of this study to highlight the changing living patterns in the Pakistani community from joint family to nuclear family setup which is becoming the main reason for the loss of days when family members used to be responsible for elderly care. The ageing population in Pakistan are suffering from severe health and care issues. The Pakistani society, which once used to consider the senior citizen as a blessing now started considering them as a forced liability.
Design/methodology/approach
This study adopts the qualitative research strategy and interviews conducted in the local language with five women and men elderly each residing in old folk homes.
Findings
The study revealed that the main reasons behind increasing old folk trends in Pakistan are lack of family support, migration of children, less community awareness, economic issues, loneliness, dementia and invasion of western culture.
Originality/value
This study adopts the qualitative research strategy and interviews conducted in the local language with five women and men elderly each residing in old folk homes. The study revealed that the main reasons behind increasing old folk trends in Pakistan are lack of family support, migration of children, less community awareness, economic issues, loneliness, dementia and invasion of western culture.
Siti Nor Suriana Hj Talip and Shaista Wasiuzzaman
The authors investigate the role of financial literacy in influencing the relationship between human capital and social capital, with access to finance of micro, small and medium…
Abstract
Purpose
The authors investigate the role of financial literacy in influencing the relationship between human capital and social capital, with access to finance of micro, small and medium enterprises (MSMEs).
Design/methodology/approach
Data were gathered from 337 MSMEs in Brunei Darussalam, and analysis on the data was carried out using a number of statistical methods. The relationships between human capital, social capital, financial literacy and access to finance were analyzed using PLS-SEM.
Findings
The results show that human capital does influence access to finance but contrary to previous studies, the influence is negative. Financial literacy is an important element in the relationship between human capital, social capital and access to finance, although it plays a greater role in the relationship between social capital and access to finance. Further analysis shows that financial knowledge is significant in moderating the relationships between human and social capital with access to finance. Financial skills is found to only moderate the relationship between social capital and access to finance.
Originality/value
To the authors' knowledge, this study is the first that integrates the human capital, social capital, financial literacy and access to finance in a single model. The authors also highlight the importance of enhancing the financial literacy of MSMEs so that the problem of access to finance can be alleviated, especially in developing countries.
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Aznur Hajar Abdullah, Shaista Wasiuzzaman and Rosidah Musa
The purpose of this paper is to measure the influence of six university qualities, namely academic quality, academic staff quality, management quality, industrial linkage quality…
Abstract
Purpose
The purpose of this paper is to measure the influence of six university qualities, namely academic quality, academic staff quality, management quality, industrial linkage quality and facilities’ quality, on students’ total experience (STE) and emotional attachment.
Design/methodology/approach
Judgmental sampling is used to collect data from a sample of 489 undergraduate students of a private higher academic institution. The data are then analyzed using structural equation modeling.
Findings
This study finds that only management quality forms a significant direct relationship with emotional attachment, whereas facility quality and industrial linkage form a significant relationship with emotional attachment only when mediated with STE.
Originality/value
The results provide important findings to researchers and management of higher education institutions for future research directions.
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Mohammad Nasih, Nadia Anridho, Iman Harymawan, Suham Cahyono and Shaista Wasiuzzaman
The term “Insider CEO” refers to actor in the top management at corporate level who has the advantage of having better information regarding a company’s resources to make…
Abstract
Purpose
The term “Insider CEO” refers to actor in the top management at corporate level who has the advantage of having better information regarding a company’s resources to make investment decisions. This study aims to examine the relationship between insider chief executive officers (CEOs) and investment efficiency in emerging economies.
Design/methodology/approach
The authors comprises sample of nonfinancial companies listed on the Indonesia Stock Exchange during the period of 2011–2021, using an archival approach through regression analysis.
Findings
This study demonstrates a significant negative relationship between insider CEOs and investment efficiency. In addition, audit quality as the firm audited by BIG4 accounting firm changes the direction of previously negative findings, turning them into significant positive relationships, and audit quality acts as a moderating factor on the insider CEOs and investment efficiency nexus. Furthermore, the authors conducted a series of endogeneity and robustness tests to strengthen the results of this study.
Research limitations/implications
This study offers new ideas in the investment literature and its practice in companies, where it highlights the role of the existence of an insider CEO in practice on investment efficiency. The authors provide recommendations to companies, potential investors and policymakers regarding the potential for insider CEOs to influence investment returns that tend to be less efficient. Therefore, this study proves that the presence of an insider CEO has a higher risk-taking preference, which has the potential to influence less efficient investment practices.
Originality/value
Several previous studies have focused more on the role of CEOs who come from outside the company and their impact on investment practices. However, it is not clear whether insider CEOs will influence the company’s investment efficiency practices driven by the perspective of “risk preferences and investment returns”. To the best of the authors’ knowledge, this is the first study to substantiate the role of CEOs based on their origin and their impact on less efficient investment practices.
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Shaista Noor, Ambreen Aslam and Filzah Md Isa
The primary aim of this study is to delve into the causes of occupational stress and burnout amongst administrative staff members in Pakistani universities. It does so by…
Abstract
Purpose
The primary aim of this study is to delve into the causes of occupational stress and burnout amongst administrative staff members in Pakistani universities. It does so by employing a qualitative research strategy, offering a comprehensive understanding of the issue.
Design/methodology/approach
This study uses a qualitative research strategy to examine the causes of occupational stress and burnout amongst administrative staff members in Pakistani universities. Around 20 semi-structured interviews were conducted via Teams with administrative employees in renowned universities in Rawalpindi, Islamabad and the Lahore region of Pakistan. Saldana's (2014) structured inductive data analysis method was used to analyse the collected data.
Findings
The study sheds light on the harsh realities faced by university administrative staff in Pakistani universities. These include top management ineffectiveness, role ambiguity, role conflict, favouritism, inequality, a communication gap with higher authorities, disparity of rewards and recognition, no career paths and opportunities, feeble leadership, corruption, inappropriate use of power, mishandling of qualified staff and non-acceptance of shifting roles from administration to academia. These are not just academic concepts but real-life challenges that demand immediate attention.
Originality/value
The study's findings have significant implications for Pakistan's Ministry of Education. Based on these findings, the recommendations proposed can serve as a roadmap for enhancing interpersonal development, implementing career development programmes, succession planning and supporting university administrative staff. These initiatives can lay the groundwork for achieving the UN Sustainable Development Goal-4 targets, making this research a valuable resource for policymakers.
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Wan Masliza Wan Mohammad, Shaista Wasiuzzaman and Nik Mohamad Zaki Nik Salleh
This purpose of this paper is to examine the implications of the Revised Malaysian Code on Corporate Governance (2007) toward the effectiveness of the board and audit committees…
Abstract
Purpose
This purpose of this paper is to examine the implications of the Revised Malaysian Code on Corporate Governance (2007) toward the effectiveness of the board and audit committees in Malaysian manufacturing companies. Since the manufacturing firms are dominantly held by Chinese firms, this paper is extended to incorporate the implication of ethnicity on board and audit committees’ effectiveness.
Design/methodology/approach
Using a sample of 201 firms from fiscal year 2004-2009, the data set consists of a total of 1,206 firm-year observations. Analysis is carried out using correlation analysis, multiple and logistic regression analyses.
Findings
The findings reveal that board and audit committees’ effectiveness is positively associated with earnings management pre- and post-Revised Malaysian Code on Corporate Governance (2007). A higher number of ethnic members in the board are also positively associated with earnings management.
Research limitations/implications
This study is limited to some industries in the manufacturing sector due to the special characteristics of this sector and covers mostly large firms. The results may not therefore be applicable to small firms. Finally, the study does not consider possible interaction between the board and audit characteristics which may be significant in influencing earnings management.
Practical implications
The findings show that the corporate governance mechanism in Malaysian firms is currently inadequate in preventing earnings management and extra effort is needed to improve board governance.
Originality/value
This paper contributes to the current literature on the issues of corporate governance effectiveness and board ethnicity in the current economic and political structure in Malaysia.
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Shaista E. Khilji, Brian Keilson, Farah Yasmine Shakir and Binod Krishna Shrestha
Scholars have argued that it is important to investigate how authentic leadership is manifested in different cultures (Avolio et al., 2005; Gardiner, 2011; Shamir and Eilam…
Abstract
Purpose
Scholars have argued that it is important to investigate how authentic leadership is manifested in different cultures (Avolio et al., 2005; Gardiner, 2011; Shamir and Eilam, 2005). Hence the purpose of this paper is to capture a cross-cultural view of authentic leadership, using a sample of South Asian leaders.
Design/methodology/approach
Because of a dearth of qualitative empirical evidence, the authors adopted a “life story” approach to collect data. A total of 14 leaders from India, Nepal, Pakistan and Sri Lanka were interviewed to share their leadership experiences.
Findings
Findings indicate that the concept of authentic leadership is culturally relevant. It emerged as a multi-dimensional construct constituting self-concept, follower development, organizational outcomes and culture (Meacham, 2007), and contextual knowledge. The authors propose a cross-cultural model of authentic leadership.
Research limitations/implications
Research limitations include researchers’ possible biases in design of data and an assumption that leaders interviewed were authentic. Despite these limitations, the study provides valuable insights about authentic leadership to strengthen its theoretical foundation.
Social implications
Organizational and social problems in South Asian are often attributed to a leadership deficit (Khan, 2014; Khilji, 2013; National Post, 2014; Sardesai, 2013). This study provides evidence of transformative authentic leaders in South Asia who are engaged with their and followers’ authentic growth, and are building authentic cultures for positive organizational outcomes.
Originality/value
The value of the present research is in providing qualitative empirical evidence from South Asia, and proposing a cross-cultural model of authentic leadership.
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Faheem Aslam, Skander Slim, Mohamed Osman and Ibrahim Tabche
This paper examines the impact of Russian invasion of Ukraine on the intraday efficiency of four major energy markets, namely, diesel oil, Brent oil, light oil and natural gas.
Abstract
Purpose
This paper examines the impact of Russian invasion of Ukraine on the intraday efficiency of four major energy markets, namely, diesel oil, Brent oil, light oil and natural gas.
Design/methodology/approach
This study applies the multifractal detrended fluctuation analysis (MFDFA) to high-frequency returns (30-min intervals) for the period from October 21, 2021, to May 20, 2022. The data sample of 5,141 observations is divided into two sub-samples, before and after the invasion of 24th February 2022. Additionally, the magnitude of long memory index is employed to investigate the presence of herding behavior around the invasion period.
Findings
Results confirm the presence of multifractality in energy markets and reveal significant changes of multifractal strength due to the invasion, indicating a decline of intraday efficiency for oil markets. Surprisingly, the natural gas market, being the least efficient before the invasion, turns out to be more efficient after the invasion. The findings also suggest that investors in these energy markets are likely to show herding, more prominently after the invasion.
Practical implications
The multifractal patterns, in particular the long memory property of energy markets, can help investors develop profitable investment strategies. Furthermore, the improved efficiency observed in the natural gas market, after the invasion, highlights its unique traits and underlying complexity.
Originality/value
This study is the first attempt to assess the impact of the Russia–Ukraine war on the efficiency of global commodity markets. This is quite important because the adverse effects of the war on financial markets may potentially cause destabilizing outcomes and negative effects on social welfare on a global scale.