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Article
Publication date: 30 October 2023

Yusuf Karbhari, Abdelhafid Benamraoui and Ahmad Fahmi Sheikh Hassan

The study applies Erving Goffman's (1974) “frame analysis” principles to examine how Sharia governance is practiced in Islamic banks and explores the interaction and strategies…

Abstract

Purpose

The study applies Erving Goffman's (1974) “frame analysis” principles to examine how Sharia governance is practiced in Islamic banks and explores the interaction and strategies adopted by bank managers to influence the decisions of Sharia scholars. The study also aims to identify inherent flaws in the Sharia compliance review system.

Design/methodology/approach

The study employs the principles of Goffman as a lens to critically analyse a rich dataset obtained through interviews undertaken with 46 key players operating in the governance framework of the Malaysian Islamic banking industry due to its progressive Islamic governance framework.

Findings

The study demonstrates that managers of Islamic banks may engage in “passing” and “covering” strategies while interacting within the governance structure. Concurrently, Sharia boards (SBs) implement “protective practices” during their interactions, adding complexity to their responsibilities within the banks. Consequently, SBs cannot merely be viewed as instruments for legitimising banking operations. This raises questions about the “impression management,” “concealment” and “competence” strategies employed by managers and SB members, as suggested by Goffman's framework. These findings indicate that there is room for further enhancement in the governance practices of Islamic banks.

Research limitations/implications

Future research could explore aspects related to the governance of Islamic banks, such as investigating the independence and effectiveness of internal Sharia officers. Examining the strategies employed during their interactions with external Sharia boards and other stakeholders could provide further valuable insights.

Practical implications

By highlighting shortcomings in the governance and compliance review process, the findings could serve as a valuable resource for policymakers. The insights derived could inform the development of regulations aimed at reducing opportunistic behaviour and promoting accountability in the Islamic banking sector.

Originality/value

This study uniquely employs Goffman's concepts of “frontstage” and “backstage” strategies to offer insights into the interactions between Islamic bank managers and SBs and the impact of these interactions on Sharia compliance. The study contributes to the understanding of the dynamics between key players in the governance of Islamic banks and the factors influencing their adherence to Sharia principles.

Details

Accounting, Auditing & Accountability Journal, vol. 37 no. 4
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 15 June 2023

Muhammad Arsalan Aqeeq and Sumaira Chamadia

This paper evaluates the performance of actively managed conventional and Islamic equity funds in a developing economy with a focus to assess the performance-growth puzzle posited…

Abstract

Purpose

This paper evaluates the performance of actively managed conventional and Islamic equity funds in a developing economy with a focus to assess the performance-growth puzzle posited by Gruber (1993) (a.k.a Gruber’s puzzle). Under the context of an emerging market of Pakistan, this study explores if actively managed equity fund (AMEF) managers have been able to add value by outperforming the market in terms of stock-selection and market-timing abilities; and the comparative performance analysis of Islamic versus conventional AMEFs is also carried out.

Design/methodology/approach

We employ Sharpe and Treynor ratios, Capital asset pricing model, Fama–French three factors model (1993), Carhart four-factor model (1997) and Hendrickson (1981) market timing models on 45 equity funds comprising of 23 conventional and 22 Islamic equity funds operating in Pakistan for a period of 10 years. The overall sample period (2008–2018) is divided into two 5 years sub-periods (i.e. 2009–2013 and 2014–2018) and three 3 years sub-periods (2009–2011, 2012–2014 and 2015–2017) to be viewed in conjunction with the country's macro-economic condition.

Findings

We report that the actively managed equity funds (AMEFs) were unable to beat the market index with their stock selection or market timing capabilities. However, AMEFs depicted improved performance in the post-global financial crisis period where both conventional and Islamic AMEFs generated substantial rewards for the given amount of risk. Also, conventional AMEFs outperformed Islamic AMEFs potentially due to their holdings in highly leveraged value and large-cap stocks, while Islamic AMEFS invest more cautiously in small-cap and value firms. Analysis of market timing skills revealed that the funds have not been able to select the undervalued stocks and adopted a defensive strategy in the post-global financial crisis recovery period.

Practical implications

Our findings shed some interesting insights and raise some pertinent questions for research, policy, and practice – specifically for developing countries’ context. The no ‘return-growth’ configuration defies its fit with the ‘Gruber puzzle’ and somewhat presents a case of what we call the ‘Inverse Grubber puzzle’. This novel notion of the ‘Inverse Grubber puzzle’ should inform policy and practice to reflect on their practices, institutional arrangement, regulatory framework and policy design in developing economies characterized by lacklustre performance and growth of AMEFs. For example, the regulatory design may consider focusing on stimulating financial inclusion and deepening by motivating low-cost Index tracker funds (ITFs) – with lower fund management costs, while allocating the avoided cost to flow towards effective marketing campaigns driving greater awareness, financial deepening, and investor base diversification. For future research, financial development researchers may explore the implications and appropriateness of AMEFs versus ITFs in other developing economies.

Originality/value

The work reported in this paper is original and constitutes a valuable asset for ethno-religious-sensitive investors. The research has not been published in any capacity and is not under consideration for publication elsewhere.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 5
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 30 April 2024

Reima Daher Alsemiry, Rabea E. Abo Elkhair, Taghreed H. Alarabi, Sana Abdulkream Alharbi, Reem Allogmany and Essam M. Elsaid

Studying the shear stress and pressure resulting on the walls of blood vessels, especially during high-pressure cases, which may lead to the explosion or rupture of these vessels…

Abstract

Purpose

Studying the shear stress and pressure resulting on the walls of blood vessels, especially during high-pressure cases, which may lead to the explosion or rupture of these vessels, can also lead to the death of many patients. Therefore, it was necessary to try to control the shear and normal stresses on these veins through nanoparticles in the presence of some external forces, such as exposure to some electromagnetic shocks, to reduce the risk of high pressure and stress on those blood vessels. This study aims to examines the shear and normal stresses of electroosmotic-magnetized Sutterby Buongiorno’s nanofluid in a symmetric peristaltic channel with a moderate Reynolds number and curvature. The production of thermal radiation is also considered. Sutterby nanofluids equations of motion, energy equation, nanoparticles concentration, induced magnetic field and electric potential are calculated without approximation using small and long wavelengths with moderate Reynolds numbers.

Design/methodology/approach

The Adomian decomposition method solves the nonlinear partial differential equations with related boundary conditions. Graphs and tables show flow features and biophysical factors like shear and normal stresses.

Findings

This study found that when curvature and a moderate Reynolds number are present, the non-Newtonian Sutterby fluid raises shear stress across all domains due to velocity decay, resulting in high shear stress. Additionally, modest mobility increases shear stress across all channel domains. The Sutterby parameter causes fluid motion resistance, which results in low energy generation and a decrease in the temperature distribution.

Originality/value

Equations of motion, energy equation, nanoparticle concentration, induced magnetic field and electric potential for Sutterby nano-fluids are obtained without any approximation i.e. the authors take small and long wavelengths and also moderate Reynolds numbers.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 5
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 30 April 2024

Farooq H. Ali, Mushtaq F. Almensoury, Atheer Saad Hashim, Qusay Rasheed Al-Amir, Hameed K. Hamzah and M. Hatami

This paper aims to study the effect of concentric hot circular cylinder inside egg-cavity porous-copper nanofluid on natural convection phenomena.

Abstract

Purpose

This paper aims to study the effect of concentric hot circular cylinder inside egg-cavity porous-copper nanofluid on natural convection phenomena.

Design/methodology/approach

The finite element method–based Galerkin approach is applied to solve numerically the set of governing equations with appropriate boundary conditions.

Findings

The effects of different range parameters, such as Darcy number (10–3 = Da = 10–1), Rayleigh number (103 = Ra = 106), nanoparticle volume fraction (0 = ϑ = 0.06) and eccentricity (−0.3 = e = 0.1) on the fluid flow represent by stream function and heat transfer represent by temperature distribution, local and average Nusselt numbers.

Research limitations/implications

A comparison between oval shape and concentric circular concentric cylinder was investigated.

Originality/value

In the current numerical study, heat transfer by natural convection was identified inside the new design of egg-shaped cavity as a result of the presence of a circular inside it supported by a porous medium filled with a nanofluid. After reviewing previous studies and considering the importance of heat transfer by free convection inside tubes for many applications, to the best of the authors’ knowledge, the current work is the first study that deals with a study and comparison between the common shape (concentric circular tubes) and the new shape (egg-shaped cavity).

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 5
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 12 June 2023

Samina Qasim, Waqar Ahmed and Reema Frooghi

Environmental performance (EnPerf) needs to be critically studied so organizations can understand enhancing it. The purpose of this study is mainly to examine and explain the…

Abstract

Purpose

Environmental performance (EnPerf) needs to be critically studied so organizations can understand enhancing it. The purpose of this study is mainly to examine and explain the influence of beliefs and values of the human resources regarding religiosity (REL) and workplace spirituality (WS) on shaping an environmentally friendly work culture comprising environmental ethics (EE) and environmental passion (EP), to enhance EnPerf.

Design/methodology/approach

A survey methodology was used, and 316 responses were collected from the employees working in industries on the top list of polluting the environment using purposive sampling. Structural equation modeling was deployed to test the hypotheses.

Findings

This research is conducted to identify specific relationships of variables with the environment. It was discovered that WS affected EP and EE, positively affecting EnPerf.

Research limitations/implications

This study guides organizations and their management to adopt WS, EE and EP, as these all increase EnPerf in the organization.

Originality/value

Not much work has been conducted on the environmental culture based on REL and WS, using the ability-motivation-opportunity theory. This research analyzes employees’ intrinsic factors, such as REL and WS, to develop EP and EE. Thus helping to comprehend how they can use to enhance EnPerf, which is the current priority for the organizations.

Details

International Journal of Ethics and Systems, vol. 40 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 10 January 2023

Do Uyen Tam and Nguyen Thi Mai Trang

Workplace incivility (WI) has been extensively studied. However, less is known about how WI spills over into employees' lives. Building on the work-home resources model, the…

Abstract

Purpose

Workplace incivility (WI) has been extensively studied. However, less is known about how WI spills over into employees' lives. Building on the work-home resources model, the authors develop a conceptual model investigating work-family enrichment (WFE) as the mediator between WI and subjective well-being (SWB) and coping strategies as the moderator of this indirect relationship.

Design/methodology/approach

Survey data were gathered from 266 frontline employees (FLEs) working in different banks in Vietnam, using a convenience sampling technique. The partial least squares structural equation modeling (PLS-SEM) technique was employed.

Findings

The results show that coworker incivility (COWI) predicts a lower level of WFE, which in turn is associated with SWB, while supervisor incivility is not. The authors also found that coping strategies moderate the adverse influence of COWI on employees' WFE.

Originality/value

Although much research has been conducted on the predictors of SWB, little is known about how WI and WFE together impact SWB, and insight into how to buffer the effects of WI are also lacking. This study thus fills a gap in the literature. Implications for theory, practice and future research are discussed.

Details

Asia-Pacific Journal of Business Administration, vol. 16 no. 3
Type: Research Article
ISSN: 1757-4323

Keywords

Article
Publication date: 30 August 2023

Sneha Badola, Aditya Kumar Sahu and Amit Adlakha

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore…

Abstract

Purpose

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.

Design/methodology/approach

Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.

Findings

This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.

Research limitations/implications

The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.

Originality/value

The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 23 November 2022

Ahmad Aljarah, Dima Sawaftah, Blend Ibrahim and Eva Lahuerta-Otero

The aim of this study is first, to investigate the relative effect of user-generated content (UGC) and firm-generated content (FGC) on online brand advocacy, and second, to…

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Abstract

Purpose

The aim of this study is first, to investigate the relative effect of user-generated content (UGC) and firm-generated content (FGC) on online brand advocacy, and second, to examine the mediation effect of customer engagement and the moderation effect of brand familiarity in the relationship between UGC and FGC and online brand advocacy. The differential impact of UGC and FGC on consumer behavior has yet to receive sufficient academic attention among hospitality scholars.

Design/methodology/approach

Based on social learning theory, cognitive consistency theory and schema theory, this study established an integrated research framework to explain the relationship between the constructs of the study. This study adopts a scenario-based experimental design in two separate studies within contexts to examine the proposed hypotheses.

Findings

The results revealed that UGC is a stronger predictor of online brand advocacy than FGC. A mediation analysis supported that the effect of digital content marketing types on online brand advocacy occurs because of customer engagement. Further, when the brand was familiar, participants showed a higher level of online brand advocacy than when they were exposed to FGC (vs. unfamiliar brand), whereas the effect of familiar and unfamiliar brands on online brand advocacy remains slightly close to each other when the participants were exposed to UGC. Brand familiarity positively enhanced participants’ engagement when they were exposed to UGC. Further, customer engagement is only a significant mediator when the brand is unfamiliar.

Practical implications

This paper presents significant managerial implications for hospitality companies about how they can effectively enhance brand advocacy in the online medium.

Originality/value

This research provides a novel contribution by examining the differential impact of UGC and FGC on online brand advocacy as well as uncovering the underlying mechanism of how and under what conditions user- and firm-generated content promotes online brand advocacy in the hospitality context.

Details

European Journal of Innovation Management, vol. 27 no. 4
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 5 December 2023

Lakshmana Padhan and Savita Bhat

The study examines the presence of the pollution haven or pollution halo hypothesis in Brazil, Russia, India, China and South Africa (BRICS) and Next-11 economies. Hence, it…

Abstract

Purpose

The study examines the presence of the pollution haven or pollution halo hypothesis in Brazil, Russia, India, China and South Africa (BRICS) and Next-11 economies. Hence, it empirically tests the direct impact of foreign direct investment (FDI) on the ecological footprint. Further, it explores the moderating role of green innovation on the nexus between FDI and ecological footprint.

Design/methodology/approach

The study uses the Driscoll–Kraay (DK) standard error panel regression technique to examine the long-run elasticities amongst the variables for the group of emerging countries, BRICS and Next-11, during the period of 1992 to 2018. Further, statistical robustness is demonstrated using the fully modified ordinary least squares technique.

Findings

The empirical finding shows that FDI degrades environmental quality by raising the ecological footprint. Thus, it proves that FDI is a source of pollution haven in BRICS and Next-11 countries. However, green innovation negatively moderates the relationship between FDI and ecological footprint. That means the joint impact of green innovation, and FDI proves the presence of the pollution halo hypothesis. Further, renewable energy consumption is reducing the ecological footprint, but economic growth and industrialisation are worsening the environmental quality.

Practical implications

This study offers policy implications for governments and policymakers to promote environmental sustainability by improving green innovation and allowing FDI that encourages clean and advanced technology.

Originality/value

No prior studies examine the moderating role of green innovation on the relationship between FDI and ecological footprint in the context of emerging countries.

Details

Management of Environmental Quality: An International Journal, vol. 35 no. 4
Type: Research Article
ISSN: 1477-7835

Keywords

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