Search results

1 – 10 of 130
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 13 February 2024

Ajid ur Rehman, Asad Yaqub, Tanveer Ahsan and Zia-ur-Rehman Rao

This study aims to investigate earnings management practice of classification shifting of revenues in Chinese-listed firms.

370

Abstract

Purpose

This study aims to investigate earnings management practice of classification shifting of revenues in Chinese-listed firms.

Design/methodology/approach

The study employs a dataset of 2,920 A-listed firms from Chinese stock exchanges of Shanghai and Shenzhen for the period of 2003–2019. We apply both univariate and panel regression analysis by using fixed effect estimation with robust standard errors.

Findings

Our findings reveal that firms misclassify revenues by taking advantage of the flexibility provided by applicable financial reporting standards. The empirical evidence obtained through regression analysis suggest that managers reclassify non-operating revenues as operating revenue to alter the economic reality while seeking the advantage of financial reports users’ vulnerability for valuing the upper half of income statement items more as compared to lower part. The results further indicate that international financial reporting standards adoption inhibits the earnings management practices using classification shifting of revenues. It is also concluded that firms, which are suffering losses or having low growth, are more persistently involved in misclassification of revenues.

Originality/value

The study is unique from the point of view that it investigates earnings management from the prospective of revenue’s classification in an emerging market characterized by various market imperfections such as lower investor protection and higher information asymmetry.

Details

Journal of Accounting in Emerging Economies, vol. 14 no. 5
Type: Research Article
ISSN: 2042-1168

Keywords

Access Restricted. View access options
Article
Publication date: 3 November 2020

Tanveer Ahsan, Sultan Sikandar Mirza, Bakr Al-Gamrh, Chai Bin-Feng and Zia-Ur-Rehman Rao

The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable…

923

Abstract

Purpose

The purpose of this study is to investigate the moderating impact of corporate governance (CG) on the relationship between economic policy uncertainty (EPU) and the sustainable growth (SG) of Chinese firms.

Design/methodology/approach

The study collects data of 975 Chinese non-financial listed firms for the period from 2010 to 2017. The study measures SG using a comprehensive index based on nine financial indicators and applies industry and year fixed effects regression to investigate the direct and moderating impact of CG on the relationship between EPU and SG of Chinese firms.

Findings

The results of the study explain that EPU negatively affects SG, while concentrated ownership, board independence and board gender diversity (BGD) positively contribute to the SG of the Chinese firms. The results also explain that concentrated ownership and BGD reduce the negative impact of EPU on the SG of the Chinese firms.

Research limitations/implications

The study considers only non-financial firms; therefore, the results of this study cannot be generalized for financial firms. Future research can be carried out while considering financial firms as a unit of analysis.

Practical implications

The investigation of the negative impact of policy uncertainty on SG is essential for the government and policymakers to devise policies to reduce uncertainty. The investigation of the moderating effect of CG enriches the literature on corporates’ response to policy uncertainty. It provides valuable insights for corporates regarding CG mechanisms to attain SG.

Originality/value

To the best of the authors’ knowledge, this is the first study that investigates the moderating impact of CG on the SG of Chinese firms using an index-based measurement of SG.

Details

Corporate Governance: The International Journal of Business in Society, vol. 21 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

Access Restricted. View access options
Article
Publication date: 23 March 2021

Muhammad Zia-ur-Rehman, Khalid Latif, Muhammad Mohsin, Zahid Hussain, Sajjad Ahmad Baig and Izma Imtiaz

The basic intention of this research is to investigate the role of information transparency of financial institutions and psychological attitude of the individuals toward their…

1635

Abstract

Purpose

The basic intention of this research is to investigate the role of information transparency of financial institutions and psychological attitude of the individuals toward their attention to saving and borrowing. This study also tries to know how an individual's psychological factor affects a person's attitude to motivate them to save or borrow and contribute to well-being by giving them confidence that they can face financial challenges. So, the main concern of this study is to explore different factors that ultimately contribute to the financial well-being (FWB) of individual.

Design/methodology/approach

A survey was conducted by using a well-structured questionnaire to collect data and test the developed hypotheses by using SmartPLS. Data were collected from 120 customers of seven different commercial banks in Pakistan.

Findings

The findings of this study show that perceived information transparency positively affects FWB. It is also because transparent shared information creates positive change in individuals' perceived self-efficacy and leads to FWB. Furthermore, an individual's psychological attitude toward borrowing and saving did not contribute to the FWB of people who belong to Pakistan.

Research limitations/implications

The research area is limited to one city of Pakistan and analysis is done with small numbers of sample, it can be increased and more areas can be explored.

Practical implications

This research provides significant implications for people and economists by providing awareness about the antecedents of FWB. The policymakers or managers who work in financial institutions should provide more transparent information and create less risky opportunities to improve the individual's well-being. If person, manager and financial institution can properly utilize the information of this study, then they are able to improve their FWB. By providing more transparent services and favorable experience with your dealings, it could help to obtain and retain more loyal internal (employees) and external customers. The loyal customers and sincere employees can increase the productivity level of organization. The more productive organizations in countries means better society and progress in the economy.

Originality/value

This research contributes to the body of knowledge that how perceived information transparency and psychological attitude of borrowing create improvement and upward changes in the FWB of a person.

Details

Business Process Management Journal, vol. 27 no. 6
Type: Research Article
ISSN: 1463-7154

Keywords

Access Restricted. View access options
Case study
Publication date: 17 October 2012

Muhammad Zia-ur-Rehman and Majid Rashid

Management sciences (organizational behavior).

Abstract

Subject area

Management sciences (organizational behavior).

Study level/applicability

The case is suitable for MBA students, employees of any organization, human resource practitioners, organization administrators, human resource directors and senior line management.

Case overview

The study deals with unethical or “haraam” practices at the workplace. It is based on the observation of the researchers. The business organization was selected and the behavior of employees was observed for two months. An interesting behavior of an employee was observed and the change in behavior was followed. The study describes the various factors influencing the behavior and performance of the employee and emphasis is made on the “haraam” practices of drinking alcohol and unacceptable behavior. The focus is on the performance of the employee. Major events and changes were elaborated to deduce the descriptive cause and effect results based on observation. It was found that behavior as well as performance was reduced due to “haraam” practices, which can be a lesson for other employees to follow as well as for managers to devise strategies in order to improve the most important resource of their organization, i.e. the human resource.

Expected learning outcomes

As this case was designed for an executive education programme, no detail regarding where it fitted into the curriculum is applicable as would be the case with cases designed for students. The case is intended to develop skills in students to creatively approach a common and wide spread problem and to think about the solution in an innovative way. The overall purpose of the case is to engage human resource practitioners (students) in creatively constructing innovative solutions to address the problem of compulsive drinking in the organizational environment.

Supplementary materials

Teaching notes are available, please consult your librarian for access.

Details

Emerald Emerging Markets Case Studies, vol. 2 no. 8
Type: Case Study
ISSN: 2045-0621

Keywords

Access Restricted. View access options
Article
Publication date: 7 June 2021

Zia Ur Rehman, Imran Shafique, Kausar Fiaz Khawaja, Munazza Saeed and Masood Nawaz Kalyar

Drawing upon the institutional theory, this study examines the influence of responsible leadership on firm performance. Furthermore, this research investigates environmental…

1819

Abstract

Purpose

Drawing upon the institutional theory, this study examines the influence of responsible leadership on firm performance. Furthermore, this research investigates environmental management practices (EnvMP) as an underlying mechanism and institutional pressures as boundary condition between responsible leadership and firm performance.

Design/methodology/approach

Time-lagged data were collected using survey-questionnaire from 385 mid-level employees of construction industry in Pakistan. Partial least square-structural equation modeling (PLS-SEM) was used to analyze the data.

Findings

Results demonstrate that responsible leadership impacts firm performance (financial and nonfinancial) directly and through EnvMP. Furthermore, institutional pressure moderates the link between responsible leadership and EnvMP. However, moderated mediation effect of intuitional pressures was found insignificant.

Practical implications

This study suggest that EnvMP is a key process through which responsible leadership influences firms' financial and nonfinancial performance and shed lights as to when responsible leaders matter most in terms of firm performance through low or high institutional pressures.

Originality/value

This paper is an early attempt which contributes to the body of literature on responsible leadership by investigating mechanisms (how) and boundary condition (when) through which responsible leadership influences firms' financial and environmental performance.

Details

International Journal of Productivity and Performance Management, vol. 72 no. 1
Type: Research Article
ISSN: 1741-0401

Keywords

Access Restricted. View access options
Article
Publication date: 18 October 2024

Asad Khan, Zia ur Rehman, Imtiaz Badshah and Muhammad Ibrahim Khan

This study aims to reconcile and address Bowman’s paradox empirical criticism from the lens of financial theory, corporate strategy and their econometric adversaries based on…

13

Abstract

Purpose

This study aims to reconcile and address Bowman’s paradox empirical criticism from the lens of financial theory, corporate strategy and their econometric adversaries based on three issues, i.e. risk conceptualization, measurement and econometric modeling in Asian emerging countries (AEC).

Design/methodology/approach

The study is conducted on panel data sampling from 2,872 firms across four Asian Emerging Countries (AEC) and employs a two-stage least squares (2SLS) estimation technique. We proposed a theoretical framework based on triangulation that outlines four risk-return relationships based on proxies derived from capital market and firm-level data and used different econometric models to answer Bowman’s paradox ongoing criticism.

Findings

The empirical results negate the empirical artifact viewpoint in AEC. The risk-return relationship estimated on firm accounting-based ratios or its combination with market-based measures supports Bowman’s paradox and thus upholds the corporate strategy point of view. Whereas the risk-return relationship based on market-based ratios upholds the financial theory point of view. However, the results are mixed when risk is subdivided into systematic and business risk. Our results are robust across standard deviation and semi-standard deviation-based measures of risk, and there is no evidence of a non-linear relationship.

Originality/value

A compelling debate exists that Bowman’s paradox is an empirical artifact. We provide an innovative approach that aims to reconcile and address the ongoing debate by employing diverse risk-return proxies and econometric models in Asian emerging countries. Methodological issues such as endogeneity, sample biases, temporal fluctuations, downside risk variations, multiple moments of a variable and model misspecification are also addressed. This triangulation enhances the robustness of our analysis, providing a comprehensive perspective on AEC and laying the groundwork for future researchers to explore Bowman’s paradox through alternative measures and models.

Details

Managerial Finance, vol. 50 no. 12
Type: Research Article
ISSN: 0307-4358

Keywords

Access Restricted. View access options
Article
Publication date: 30 July 2024

Zahid Iqbal, Muhammad Akram and Zia Ur Rehman Rao

This study aims to investigate the relationship between bank policy-related practices and green financing sustainability in Pakistan. The study uses a mediating-moderation…

240

Abstract

Purpose

This study aims to investigate the relationship between bank policy-related practices and green financing sustainability in Pakistan. The study uses a mediating-moderation analysis to examine how the influence of bank policies on green financing sustainability is mediated by green banking activities and moderated by the employees’ green value and green knowledge sharing.

Design/methodology/approach

In this study, a structural questionnaire was used to gather data from Pakistani bank personnel through stratified sampling. A two-stage structural equation modelling approach was used in this investigation. The measuring scale’s validity and reliability are assessed using the measure model. A structural model was used to ascertain the connection between the underpinning constructs.

Findings

This study found a positive significant effect on bank employed related practices on green banking activities, besides the mediate role of green banking activities between the bank policies-related practices and green financing. In addition, this study also found the moderating role of employees’ green value and green knowledge sharing on the relationship of bank policies-related practices and green banking activities as well as green banking activities and green financing, respectively.

Originality/value

As environmental sustainability becomes more and more important on a worldwide scale; the study looks into the ways that financial institutions may become more environmentally conscious and help create a more sustainable future. To shed light on the ways in which financial institutions can be crucial in advancing green sustainability in an emerging economy such as Pakistan, this study used sophisticated statistical tools.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

Access Restricted. View access options
Article
Publication date: 27 February 2024

Zahid Iqbal, Zia-ur-Rehman Rao and Hassan Ahmad

To improve the loan repayment performance (LRP) of microfinance banks (MFBs) in Pakistan, this study aims to look at the direct impact of multiple borrowing (MB) on LRP and…

87

Abstract

Purpose

To improve the loan repayment performance (LRP) of microfinance banks (MFBs) in Pakistan, this study aims to look at the direct impact of multiple borrowing (MB) on LRP and client-business performance (CBP), as well as the direct impact of CBP on LRP. The moderating function of pandemic factors in the relationship between MB and CBP, as well as the mediating effect of CBP in the association between MB and LRP, was also investigated in this study.

Design/methodology/approach

A questionnaire was used to obtain data from 531 lower-level workers of microfinance institutions (MFIs) for the study. The respondents were chosen using stratified sampling, which divided the target population into four influential groups: lending officers in agriculture, lending officers in businesses, lending officers in gold loans and lending officers in salary loans. In this study, a two-stage structural equation modeling approach was used, including a measurement model (outer model) and a structural model (inner model). The validity and reliability of the questionnaire were investigated using the measurement model (outer model), whereas PLS-SEM bootstrapping was performed to test the hypothesis and find the relationship among different underpinning constructs by using the structural model (inner model).

Findings

The outcomes of this study demonstrate that MB has a direct impact on CBP, and that CBP has a direct impact on LRP. MB, on the contrary, had no direct and significant impact on LRP in this study. The idea that CBP mediates the relationship between MB and LRP, as well as the moderating effect of pandemic factors on the relationship between MB and CBP, is supported by this research.

Originality/value

Until now, the influence of MB on LRP via the mediating role of CBP and the moderating role of a pandemic factor in the setting of Pakistani MFBs has received little attention. During the COVID-19 pandemic, this research also aids MFBs in better understanding MB and its impact on LRP. Furthermore, based on the findings of this study, Pakistani MFIs can enhance their LRP by implementing new lending regulations, particularly with reference to MB and the COVID-19 pandemic.

Access Restricted. View access options
Article
Publication date: 2 May 2017

Zia-ur-Rehman Rao, Muhammad Zubair Tauni, Amjad Iqbal and Muhammad Umar

The purpose of this paper is to find whether Chinese equity funds outperform the market and do Chinese fund managers possess positive market timing ability. This study also aims…

1293

Abstract

Purpose

The purpose of this paper is to find whether Chinese equity funds outperform the market and do Chinese fund managers possess positive market timing ability. This study also aims to investigate whether well-performing (worst) funds of last year continue to perform well (worst) in the following year.

Design/methodology/approach

Capital Asset Pricing Model and Carhart four-factor model are used for performance analysis, whereas for analyzing market timing ability, the Treynor and Mazuy (1966) and Henriksson and Merton (1981) models are applied. To investigate persistence in the performance of Chinese equity funds, all equity funds are divided, on the basis of performance in the past 12 months, into three equally weighted groups (high, middle and low) and then observed for next 12 months. After that, groups are again rebalanced according to their performance. This study uses a panel regression model for analysis.

Findings

Chinese equity funds are successful in providing higher than market returns, and fund managers possess positive market timing ability. The authors find that Chinese equity funds do not show persistence in performance as witnessed in developed markets. Well-performing funds (worst funds) of last year do not continue to provide higher (lower) return in the following year. Moreover, the authors detect positive relationship of fund size, age and expense ratio with the fund’s performance. Overall results suggest that emerging market equity funds show better performance than that of developed markets.

Practical implications

Investors are better off if they invest in equity funds instead of index funds, as results illustrate that equity funds outperformed the market. Further, the strategy of buying well-performing funds of last year and selling poorly performing funds of last year does not look very attractive in China. This study helps investors to understand the Chinese managed funds industry, and such an understanding is also helpful for fund managers and asset management companies who use performance information in marketing strategies.

Originality/value

This is the first study to investigate the performance persistence in Chinese equity funds and also contributes to the literature about the performance and market timing ability of equity funds. The study takes the sample of 520 equity funds for the period from 2004 to 2014, which includes a period of financial crisis of 2008.

Details

Journal of Asia Business Studies, vol. 11 no. 2
Type: Research Article
ISSN: 1558-7894

Keywords

Access Restricted. View access options
Article
Publication date: 22 September 2017

Muhammad Zubair Tauni, Zia-ur-Rehman Rao, Hongxing Fang, Sultan Sikandar Mirza, Zulfiqar Ali Memon and Khalil Jebran

The purpose of this paper is to investigate the impact of the frequency of information acquisition on the frequency of stock trading. The authors also examined if the Big Five…

2536

Abstract

Purpose

The purpose of this paper is to investigate the impact of the frequency of information acquisition on the frequency of stock trading. The authors also examined if the Big Five personality traits of investor influence the association between information acquisition and stock trading behavior.

Design/methodology/approach

The authors adopted NEO Five-Factor Inventory (Costa and McCrae, 1989) inventory to measure the Big Five personality traits of investors and examined the data collected from 541 individual investors of the Chinese stock market. To overcome the potential endogeneity bias, the authors followed two-stage least square method for estimating endogenous covariate by employing instrumental variable analysis. The authors performed probit regression to evaluate the moderating influence of investor personality traits on the association between information acquisition and stock trading behavior. The authors also performed several other tests to check the robustness of the key findings.

Findings

This research confirmed the previous findings that the more frequently investors acquire information, the more often they trade in stocks. Moreover, the authors added to the existing literature by providing empirical evidence that the Big Five personality traits moderate the relationship of information acquisition with stock trading behavior. Information acquisition tends to increase stock trading frequency in investors with conscientiousness, extraversion and agreeableness traits. On the other hand, it also has the tendency to decrease the intensity of stock trading in investors with openness and neuroticism traits.

Research limitations/implications

The theoretical model in this study seeks to explain that the psychological factor, namely, investor personality, influences the way an investor interprets signals from information which in turn influences the investor decision to trade in securities. This research suggests that psychological characteristics of investors can be of relevance for policy makers in their attempts to improve their business in the financial services industry.

Originality/value

This study combines both information search literature and behavioral finance literature to investigate whether or not the information acquisition that relates to investors’ asset allocation decisions is influenced by investor personality. The study offers new theoretical insights into investors’ behavior due to the characteristics of the Chinese stock market which are uniquely different from other stock markets in the world. No previous study has been conducted so far in the Chinese stock market to explore variations in the impact of investors’ information acquisition on their stock trading by the Big Five personality and this paper strives to fill this research gap.

Details

China Finance Review International, vol. 7 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

1 – 10 of 130
Per page
102050