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1 – 10 of 144Abdullah Al Masud and Burhan Uluyol
Initial Public Offering (IPO) is a major milestone for a company. It allows a private company to issue shares to a much broader group of investors and become public. But…
Abstract
Purpose
Initial Public Offering (IPO) is a major milestone for a company. It allows a private company to issue shares to a much broader group of investors and become public. But conclusive evidence of the driving forces behind investors’ demand is yet to be identified. Therefore, the major purpose of this study is to assess the level of investors’ demand in IPO and how investors’ demand in IPOs is affected.
Design/methodology/approach
The study will employ 80 IPO companies of a Muslim-majority country, Bangladesh, starting from 2013 to 2021 with application of linear and quantile regressions. Apart from that, t-test will be used to compare means of groups of Shariah-compliant and non-Shariah-compliant firms and IPOs under fixed-price and book-building mechanism.
Findings
Oversubscription is higher for IPOs issued through fixed-price method compared to book-building method, but no significant difference is found in oversubscription for Shariah firms compared to non-Shariah firms based on t-tests. The authors found IPO size, firm size, IPO risk, proportion of shares offered to public, and bank interest rate to have significant impact on the IPO demand. Some models found non-Shariah compliance status of IPO companies to be a significant factor for the investors to demand IPO. Quantile regression results found board independence to have a positive association with larger, less-subscribed firms and board size to have a negative relation with IPO demand, for smaller firms with high demand.
Research limitations/implications
Future studies may apply the findings to other settings, especially into the reasons behind preference for non-Shariah-compliant firms and higher demand for IPOs during higher interest rate. Equity issuing firms and issue managers can benefit from this study by wisely deciding on the proportion of shares for public, issue size and board of director composition. Shariah considerations cannot be ignored given that more information on Shariah compliance is disseminated among investors despite current non-preference for Shariah-compliant IPOs. On the other hand, institutional investors and general investors should consider firm-specific, governance and macroeconomic factors in IPO investment. Likewise, regulators would do well to bring in quality IPOs with characteristics mentioned in this study for ensuring stability of the market.
Originality/value
The main contribution of the study is identifying determinants of IPO demand: faith, governance, macro issues – understanding whether one or many of the above factors drive investor demand in IPOs of a Muslim-majority country will be the main contribution.
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Hasan Baş, Fatih Yapıcı and Erhan Ergün
The use of additive manufacturing in many branches of industry is increasing significantly because of its many advantages, such as being able to produce complex parts that cannot…
Abstract
Purpose
The use of additive manufacturing in many branches of industry is increasing significantly because of its many advantages, such as being able to produce complex parts that cannot be produced by classical methods, using fewer materials, easing the supply chain with on-site production, being able to produce with all kinds of materials and producing lighter parts. The binder jetting technique, one of the additive manufacturing methods researched within the scope of this work, is predicted to be the additive manufacturing method that will grow the most in the next decade, according to many economic reports. Although additive manufacturing methods have many advantages, they can be slower than classical manufacturing methods regarding production speed. For this reason, this study aims to increase the manufacturing speed in the binder jetting method.
Design/methodology/approach
Adaptive slicing and variable binder amount algorithm (VBAA) were used to increase manufacturing speed in binder jetting. Taguchi method was used to optimize the layer thickness and saturation ratio in VBAA. According to the Taguchi experimental design, 27 samples were produced in nine different conditions, three replicates each. The width of the samples in their raw form was measured. Afterward, the samples were sintered at 1,500 °C for 2 h. After sintering, surface roughness and density tests were performed. Therefore, the methods used have been proven to be successful. In addition, measurement possibilities with image processing were investigated to make surface roughness measurements more accessible and more economical.
Findings
As a result of the tests, the optimum printing condition was decided to be 180–250 µm for layer thickness and 50% for saturation. A separate test sample was then designed to implement adaptive slicing. This test sample was produced in three pieces: adaptive (180–250 µm), thin layer (180 µm) and thick layer (250 µm) with the determined parameters. The roughness values of the adaptive sliced sample and the thin layer sample were similar and better than the thick layer sample. A similar result was obtained using 12.31% fewer layers in the adaptive sample than in the thin layer sample.
Originality/value
The use of adaptive slicing in binder jetting has become more efficient. In this way, it will increase the use of adaptive slicing in binder jetting. In addition, a cheap and straightforward image processing method has been developed to calculate the surface roughness of the parts.
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This study aims to investigate the relationship between Kosovo remittances, migration and labor force participation and seeks to uncover how migration and remittances, often…
Abstract
Purpose
This study aims to investigate the relationship between Kosovo remittances, migration and labor force participation and seeks to uncover how migration and remittances, often considered separately, interact to shape labor market outcomes across gender, age and education groups.
Design/methodology/approach
To analyze the relationship between remittances, migration and labor force participation, this study leverages multivariate probit (mvprobit) to rectify the endogeneity issue intrinsic from remittances and migration. Utilizing this robust methodological approach allows us to circumvent the limitations traditionally associated with biprobit analysis. The research is grounded in empirical evidence from the Millennium Century Corporation survey in Kosovo.
Findings
The findings indicate that remittances and migration are pivotal determinants in shaping the contours of labor force participation, particularly influencing disparities across gender, age and educational attainment. Further, this study unearthed intriguing evidence suggesting the disincentivizing effect of remittances on labor force participation, alongside the potentially disruptive influence of prospective migration plans.
Originality/value
The novelty of this work lies not only in the context-specific insights it provides into the socio-economic fabric of Kosovo—an area that has hitherto received limited scholarly attention—but also in its methodological innovation. The simultaneous application of mvprobit technique provides a nuanced approach to tackle the inherent endogeneity issue, thereby pushing the methodological frontiers of the field.
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Mohd Azhar, Ruksar Ali, Ariba Naz and Sujood Sujood
The purpose of this study is to investigate the antecedents of metaverse adoption intention amongst Muslim students by expanding the technology acceptance model (TAM) to…
Abstract
Purpose
The purpose of this study is to investigate the antecedents of metaverse adoption intention amongst Muslim students by expanding the technology acceptance model (TAM) to incorporate factors viz. perceived cyber risk (PCR), perceived enjoyment (PE), personal innovativeness in IT (PIT), self-efficacy (SE), trust (TR) and religiosity (RL).
Design/methodology/approach
An online survey was circulated using a Google questionnaire to gather information on the study constructs. Purposive and snowball sampling techniques were adopted to reach the targeted students. The proposed associations were examined through the application of structural equation modelling with the use of AMOS software.
Findings
The findings suggest that the empirical results derived from the study present a compelling and effective model, and the model is designed to elucidate the intentions of Indian Muslim students regarding their willingness to embrace or adopt the metaverse. The research has identified and showcased a robust conceptual framework that provides insights into the factors influencing the metaverse adoption intentions among Muslim students.
Research limitations/implications
This research adds value to the existing literature by expanding the understanding of metaverse adoption amongst Muslim students. This thorough framework offers an intricate comprehension of metaverse adoption, offering a theoretical framework beyond traditional technological determinants. This study provides important insights that can assist educationists, administrators and policymakers in various ways in chalking out essential strategies, policies and programmes related to metaverse adoption amongst Muslim students.
Originality/value
This study is unique as the six additional constructs, viz. PCR, PE, PIT, SE, TR and RL, are included in the original TAM model, thus filling the literature gap. It also augments the comprehension of the metaverse and unfolds the antecedents of metaverse adoption intention amongst Muslim societies through the lens of students.
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Muhammad Yaseen Bhutto, Aušra Rūtelionė and Milita Vienažindienė
This study aims to improve the theory of planned behavior (TPB) model by incorporating electronic word of mouth (E-WOM) as a factor influencing attitude (ATT), subjective norms…
Abstract
Purpose
This study aims to improve the theory of planned behavior (TPB) model by incorporating electronic word of mouth (E-WOM) as a factor influencing attitude (ATT), subjective norms (SN) and perceived behavioral control (PBC). The main goal is to study Generation Z’s intention to purchase halal cosmetics. In addition, the research examines how halal product knowledge (HPK) influences the relationships between ATT, SN, PBC and the purchase intention of halal cosmetics.
Design/methodology/approach
Data were collected using self-administered questionnaires from two superstores in Karachi, Pakistan, with 265 valid responses. Convergent and discriminant validity analyses were performed to ensure validity and reliability, and variable relationships were assessed using structural equation modeling.
Findings
The results revealed that EWOM significantly influences ATT, SN and PBC. ATT and PBC both significantly affect purchase intention (PI), while SN has a nonsignificant influence on PI. In addition, the study found HPK only moderates the association between ATT and PI, while moderating influence HPK does not exist in the relationship between (SN and PI) and (PBC and PI).
Research limitations/implications
This study focuses on the Halal cosmetics industry in Pakistan and explicitly targets Generation Z individuals in a particular cultural environment. The aim is to examine how applying the same research design in different sectors and countries can lead to different results. In addition, the study primarily includes Gen Z consumers of halal cosmetics. Collecting data from other generational groups for future studies, such as generations X and Y, would be interesting.
Originality/value
This research contributes to the existing literature on halal consumption by introducing the concept of E-WOM as a factor within the TPB model. This study is particularly groundbreaking as it examines how Gen Z Pakistani Muslim consumers’ behavioral intentions toward halal cosmetic products are influenced by their HPK using the TPB model. Additionally, the paper presents an extended TPB modeling framework that could be valuable to researchers, marketers and halal experts.
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Eda Başmısırlı, Aslı Gizem Çapar, Neşe Kaya, Hasan Durmuş, Mualla Aykut and Neriman İnanç
The aim of this study was to determine the effect of anxiety levels of adults on their nutritional status during the COVID-19 pandemic in Kayseri province, Turkey.
Abstract
Purpose
The aim of this study was to determine the effect of anxiety levels of adults on their nutritional status during the COVID-19 pandemic in Kayseri province, Turkey.
Design/methodology/approach
A total of 898 adults consisting of 479 individuals with and 419 individuals without a positive diagnosis of COVID-19 were included in the study. The individuals’ socio-demographic characteristics, health status, nutritional habits, anthropometric measurement and Fear of COVID-19 Scale (FCV-19S) information were obtained online.
Findings
The mean FCV-19S score of the participants was 17.49 ± 6.02. FCV-19S score was higher in those who reduced their consumption of protein sources compared to those who did not change and those who increased (p < 0.001). It was determined that FCV-19S scores of participants who increased their consumption of fruit/vegetables, sweets and sugar were higher than those who did not change their consumption of such items (p = 0.007). The FCV-19S scores of individuals who did not change their onion/garlic and snack consumption were lower than those who decreased or increased the consumption of these nutrients (p = 0.001, p = 0.002).
Practical implications
Education programs can be organized especially targeting vulnerable populations, such as women, individuals with chronic diseases and those experiencing COVID-19 symptoms. These programs can be conducted by dietitians and psychologists in collaboration, focusing on promoting healthy eating habits and coping strategies during stressful times.
Originality/value
It was determined that those who changed their nutrition habits during the COVID-19 pandemic had higher fear levels than those who did not. Individuals with high fear paid more attention to healthy nutrition than individuals without fear.
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Ali M. Saad, Hasan D. Badran, Saheed Ajayi and Saad Sarhan
The construction industry has embraced building information modelling (BIM) as a practical methodology towards digitalisation. However, critics believe BIM has reached a plateau…
Abstract
Purpose
The construction industry has embraced building information modelling (BIM) as a practical methodology towards digitalisation. However, critics believe BIM has reached a plateau in addressing distinctive construction challenges. As a result, literature has seen an increase in the development and use of BIM-based plugins. Overall, the plugins have been critical in delivering custom-built solutions to longstanding construction challenges. The purpose of this study is to empirically investigate this trend and the potential barriers undermining the wider development of BIM plugins, by that contributing to a stimulating research topic and a growing knowledge gap.
Design/methodology/approach
Methodologically, this study used a quantitative approach to collect data through a carefully designed questionnaire. This study achieved a sample size of 39 experts who have been involved in developing, experimenting and publishing BIM-based plugins for specific construction activities.
Findings
The findings led to the identification of the key barriers to using BIM-based plugins and the identification of the key strategies to overcome them across the three situational awareness (SA) phases. Results also suggest that the development and use of plugins are destined to increase, and the research community can now rely on the insights of this paper as a departure point to address the technological plateau in BIM-related research.
Originality/value
To the best of the authors’ knowledge, this is the first study to empirically identify and assess the barriers undermining the wider development of BIM-based plugins. This study contributes to theory by building on SA, by challenging existing wisdom and fostering new knowledge around strategies to overcome the evaluated barriers.
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Saman Yazdannik, Shamim Sanisales and Morteza Tayefi
This paper introduces control strategy to enhance the performance of a novel quadrotor unmanned aerial vehicle designed for medical payload delivery. The aim is to achieve precise…
Abstract
Purpose
This paper introduces control strategy to enhance the performance of a novel quadrotor unmanned aerial vehicle designed for medical payload delivery. The aim is to achieve precise control and stability when carrying and releasing payloads, which alter the quadrotor’s mass and inertia characteristics.
Design/methodology/approach
The equations of motion specific to the payload-carrying quadrotor are derived. A feedforward-proportional-integral-derivative (FF-PID) control strategy is then proposed to address the dynamic changes during payload release. The PID components use propeller speed/orientation information for stability. FF terms based on derivatives of desired position/orientation variables enable adaptation to real-time mass fluctuations.
Findings
Extensive simulations, encompassing various fault scenarios, substantiate the effectiveness of the FF-PID approach. Notably, our findings demonstrate superior performance in maintaining altitude precision and stability during critical phases such as takeoff, payload release and landing. Graphical representations of thrust and mass dynamics distinctly illustrate the payload release event. In contrast to the linear quadratic regulator (LQR) and conventional PID control, which encountered difficulties during the payload release process, our approach proves its robustness and reliability.
Research limitations/implications
This study, primarily based on simulations, demands validation through real-world testing in diverse conditions. Uncertainties in dynamic parameters, external factors and the applicability of the proposed approach to other quadrotor configurations require further investigation. Additionally, this research focuses on controlled payload release, leaving unexplored the challenges posed by unforeseen scenarios or disturbances. Hence, adaptability and fault tolerance necessitate further exploration. While our work presents a promising approach, practical implementation, adaptability and resilience to unexpected events are vital considerations for future research in the field of autonomous aerial medical deliveries.
Practical implications
The proposed control strategy promises enhanced efficiency, reliability and adaptability for autonomous aerial medical deliveries in critical scenarios.
Social implications
The innovative control strategy introduced in this study holds the potential to significantly impact society by enhancing the reliability and adaptability of autonomous aerial medical deliveries. This could lead to faster and more efficient delivery of life-saving supplies to remote or disaster-affected areas, ultimately saving lives and reducing suffering. Moreover, the technology’s adaptability may have broader applications in fields like disaster relief, search and rescue missions, and industrial cargo transport. However, its successful integration into society will require careful regulation, privacy safeguards and ethical considerations to ensure responsible and safe deployment while addressing potential concerns related to noise pollution and privacy intrusion.
Originality/value
While PID control of quadrotors is extensively studied, payload release dynamics have been overlooked. This research studies integration of FF control to enable PID adaptation for a novel payload delivery application.
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Yosra Ridha BenSaid and Majdi Anwar Quttainah
The purpose of this paper is to examine how the board of directors effectiveness (BODE), financial determinants, Takaful-specific determinants and the Takaful firms’ financial…
Abstract
Purpose
The purpose of this paper is to examine how the board of directors effectiveness (BODE), financial determinants, Takaful-specific determinants and the Takaful firms’ financial stability are related to the Shari’ah Supervisory Board’s quality (SCQ).
Design/methodology/approach
Using hierarchical regression analysis, the authors examine the determinants of financial stability of Takaful insurance and the authors test the moderator role of SCQ over 2016–2022 on a sample of 19 listed Takaful firms in 10 countries in the Middle East and South Asia region.
Findings
The findings reveal that SCQ negatively moderates the positive relationship between BODE, the Takaful model, diversification strategy, solvency, liquidity and Takaful financial stability. Shari’ah governance plays a crucial role in improving the financial soundness and the Shari’ah compliance of Takaful insurance.
Research limitations/implications
This paper includes two main limitations. The results are restricted to the Middle East region and South Asia and may not be generalized to other areas. The study presents data from only 19 Takaful firms.
Practical implications
This kind of investigation is of immense relevance to enhance the understanding of governance and soundness of Takaful companies. Furthermore, it serves as a guide to the recruitment of Shari’ah board members, the choice of Takaful model and appropriate strategy to increase its financial stability.
Originality/value
This research studies the financial stability of Takaful insurance and the moderating role of SCQ, unlike the majority of other works that focus on financial performance.
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Celine Ibrahim Hasan, Selena Mohammad Saleh, Majd AbedRabbo, Zaid Obeidat and Alaeddin Ahmad
This research examines the effect of water conscientiousness (WC) on consumers' purchase intentions and behaviours towards sustainable apparel. Through this exploration, the…
Abstract
Purpose
This research examines the effect of water conscientiousness (WC) on consumers' purchase intentions and behaviours towards sustainable apparel. Through this exploration, the research aims to show how consumers' awareness of water conservation connects with their purchase choices for sustainable apparel.
Design/methodology/approach
Drawing on the norm activation theory, this research developed a theoretical framework and tested it using structural equation modelling and mediation analysis. This research focuses on the unique context of Jordan, a region grappling with severe water scarcity. Data were collected using an online survey with 222 completed questionnaires retained for data analysis.
Findings
The results indicate that WC does not have a significant direct effect on purchase intentions of sustainable apparel (PISA). This finding challenges the assumption that conscientiousness towards water scarcity would drive prosocial behaviours such as purchasing sustainable apparel. However, the findings reveal a full mediation effect of perceived environmental apparel knowledge (PEAK) and perceived environmental concern (PEC) on the relationship between WC and PISA. Such a finding raises awareness of the need to develop consumers' PEAK and PEC by educating them on the importance of WC and the effect of the apparel industry on water preservation. A significant relationship exists between PISA and purchase behaviour of sustainable apparel (PBSA), affirming the role of intentions in driving sustainable purchase behaviours of consumers.
Originality/value
This study provides novel insights into the role of WC in facilitating PISA and PBSA by testing a theoretical model that incorporates various environmental factors. Likewise, it extends the geographical scope of sustainability research and underscores the importance of considering diverse environmental conditions when studying consumer behaviour. The findings provide insights for marketers and policymakers in water-scarce regions, enabling them to develop strategies to promote sustainable apparel consumption.
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