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1 – 10 of over 1000Arsalan Ahmed, Nazia Nazeer, GulRukh Zahid and Faisal Nawaz
This study attempts to recognize the effects of the Pakistan–China free trade agreements (PCFTA) on promoting trade between the two economies.
Abstract
Purpose
This study attempts to recognize the effects of the Pakistan–China free trade agreements (PCFTA) on promoting trade between the two economies.
Design/methodology/approach
Following the concept of revealed comparative advantage (RCA) and free trade agreements, the study first identifies those commodities in which Pakistan and China have a robust RCA and then analyze the effect of PCFTA on the export value of those commodities for the bilateral trade between Pakistan and China. The study used the panel data in which more than the top 150 importers (j) have been selected for each case of Pakistan and China for the period of 2003–2015.
Findings
The study concludes that even with the higher convergence rate, the good RCA does not guarantee a positive effect of the free trade agreement on the commodities.
Originality/value
The study contributes to the existing literature by integrating RCA with the gravity model by adopting a sequential mode for Pakistan–China free trade agreement.
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Nihal Mahmood, Mohammad Hassan Shakil, Ishaq Mustapha Akinlaso and Mashiyat Tasnia
The purpose of this paper is to examine the relationship between foreign direct investment (FDI) flows and institutional stability. The focus country is Canada. It is one of the…
Abstract
Purpose
The purpose of this paper is to examine the relationship between foreign direct investment (FDI) flows and institutional stability. The focus country is Canada. It is one of the few countries where the economy remained relatively stable compared to other economies during the Global Financial Crisis. It is crucial for Canada to determine the optimal level of institutional development to attract more FDI and sustain the sound financial stability in future.
Design/methodology/approach
This study uses the auto-regressive distributive lag (ARDL) approach to understand the relationship between FDI and institutional stability along with other controlled variables, for instance, gross national product, inflation and exports.
Findings
The key finding of this work is that FDI and institutional stability are cointegrated in the long run. The error correction model of ARDL shed light on institutional stability being an exogenous variable, and FDI is an endogenous variable. Institutional stability affects FDI, as it is exogenous. The findings will help policymakers to implement policies to strengthen the institution’s settings, and this, in turn, will attract more investment.
Originality/value
Based on previous theoretical and empirical literature, most of the research points to FDI positively affect institutional stability. In some cases, the relationship does not always hold true. This study will fix the gap in the literature by investigating the relationship between FDI and institutional stability of Canada.
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This paper explores the evidence of a long-run co-movement between aggregate unemployment insurance spending and the labor force participation rate in the USA. The unemployment…
Abstract
Purpose
This paper explores the evidence of a long-run co-movement between aggregate unemployment insurance spending and the labor force participation rate in the USA. The unemployment insurance (UI) program tends to expand during an economic downturn and contract during an expansion. UI may incentivize unemployment and may also facilitate better matching in the labor market. Statistical evidence of the presence of a co-movement will thus shed new light on their dynamics.
Design/methodology/approach
This research applies time-series econometric approach using monthly data from 1959:1 to 2020:3 to test threshold cointegration and estimate a threshold vector error-correction (TVEC) model. The estimates from the TVEC model investigating the nature of short-run dynamics.
Findings
The Enders and Siklos (2001) test find evidence of threshold cointegration between the two indicating the presence of long-run co-movement. The estimates from the TVEC model investigating the nature of short-run dynamics find evidence that the growth in aggregate UI spending and the growth in labor force participation rate adjust simultaneously to maintain the long-run co-movement above the threshold in the short run. The author also observes the same short-run dynamics for the growth in aggregate UI spending and the growth in the labor force participation rate for females.
Research limitations/implications
This model is bi-variate by construction and does not address causality.
Practical implications
The author argues that the UI program positively impacts the female labor market outcomes, for example, better matching. This finding may explain the upward trend in the labor force participation rate for females in the USA.
Social implications
The research findings may justify the transfer programs for minority and immigrants.
Originality/value
This is first research that analyzes the UI programs impact on the labor force participation using a macroeconometric approach. To the best of the author's knowledge, this is the first study in this genre.
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Ahmed H. Al-Dmour, Masam Abood and Hani H. Al-Dmour
This study aims at investigating the extent of SysTrust’s framework (principles and criteria) as an internal control approach for assuring the reliability of accounting…
Abstract
Purpose
This study aims at investigating the extent of SysTrust’s framework (principles and criteria) as an internal control approach for assuring the reliability of accounting information system (AIS) were being implemented in Jordanian business organizations.
Design/methodology/approach
The study is based on primary data collected through a structured questionnaire from 239 out of 328 shareholdings companies. The survey units were the shareholding companies in Jordan, and the single key respondents approach was adopted. The extents of SysTrust principles were also measured. Previously validated instruments were used where required. The data were analysed using t-test and ANOVA.
Findings
The results indicated that the extent of SysTrust being implemented could be considered to be moderate at this stage. This implies that there are some variations among business organizations in terms of their level of implementing of SysTrust principles and criteria. The results also showed that the extent of SysTrust principles being implemented was varied among business organizations based on their business sector. However, there were not found varied due to their size of business and a length of time in business (experience).
Research limitations/implications
This study is only conducted in Jordan as a developing country. Although Jordan is a valid indicator of prevalent factors in the wider MENA region and developing countries, the lack of external validity of this research means that any generalization of the research findings should be made with caution. Future research can be orientated to other national and cultural settings and compared with the results of this study.
Practical implications
The study provides evidence of the need for management to recognize the importance of the implementation of SysTrust principles and criteria as an internal control for assuring the reliability of AIS within their organizations and be aware which of these principles are appropriate to their size and industry sector.
Originality/value
The findings would be valuable for academic researchers, managers and professional accounting to acquire a better undemanding of the current status of the implementation of the SysTrust principles (i.e., availability, security, integrity processing, confidentiality, and privacy) as an internal control method for assuring the reliability of AIS by testing the phenomenon in Jordan as a developing country.
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Lyndsay M.C. Hayhurst, Holly Thorpe and Megan Chawansky
Enoch Owusu-Sekyere, Helena Hansson, Evgenij Telezhenko, Ann-Kristin Nyman and Haseeb Ahmed
The purpose of this paper was to assess the economic impact of investment in different animal welfare–enhancing flooring solutions in Swedish dairy farming.
Abstract
Purpose
The purpose of this paper was to assess the economic impact of investment in different animal welfare–enhancing flooring solutions in Swedish dairy farming.
Design/methodology/approach
The authors developed a bio-economic model and used stochastic partial budgeting approach to simulate the economic consequences of enhancing solid and slatted concrete floors with soft rubber covering.
Findings
The findings highlight that keeping herds on solid and slatted concrete floor surfaces with soft rubber coverings is a profitable solution, compared with keeping herds on solid and slatted concrete floors without a soft covering. The profit per cow when kept on a solid concrete floor with soft rubber covering increased by 13%–16% depending on the breed.
Practical implications
Promoting farm investments such as improvement in flooring solution, which have both economic and animal welfare incentives, is a potential way of promoting sustainable dairy production. Farmers may make investments in improved floors, resulting in enhanced animal welfare and economic outcomes necessary for sustaining dairy production.
Originality/value
This literature review indicated that the economic impact of investment in specific types of floor improvement solutions, investment costs and financial outcomes have received little attention. This study provides insights needed for a more informed decision-making process when selecting optimal flooring solutions for new and renovated barns that improve both animal welfare and ease the burden on farmers and public financial support.
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Bodour Mubarak, Maisa Ahmed, Nahed Hussein and Marwa Ezz El-Din Ibrahim
This study aims to evaluate the caffeinated drinks, levels of vitamin D and calcium in the blood, and their relationship to bone mineral density (BMD) in osteoporotic women in…
Abstract
Purpose
This study aims to evaluate the caffeinated drinks, levels of vitamin D and calcium in the blood, and their relationship to bone mineral density (BMD) in osteoporotic women in Al-Ahsa Saudi Arabia.
Design/methodology/approach
This study included 85 women over approximately 18 months with ages ranging from 40 to 70 years who were evaluated in the laboratory via blood analysis. Moreover, sociodemographic data and information on health and nutritional awareness were collected via a questionnaire. The BMD was measured by dual-energy X-ray absorptiometry (DXA) and considered osteopenia when the T value total of the lumbar spine or hip was between −1 and −2.5 and osteoporosis < −2.5. Blood levels of vitamin D and calcium were measured via blood analysis.
Findings
There were 54.1% and 45.9% of women who suffered from osteoporosis and low BMD, respectively. There was a significant difference in the number of osteoporotic, and low bone mineral mass groups in marital status (p = 0.04), but no difference was found in age and educational level. A significant difference (p = 0.01) between low bone mass and osteoporosis groups in heights. BMD was significantly and negatively correlated with vitamin D in the blood in individuals with osteoporosis (r = −0.358, P = 0.014). In addition, there was a significant negative correlation between calcium in the blood and total samples (r = −0.355, P = 0.0578). There was a negative significant relationship between calcium supplements and BMD in individuals with low BMD (rt = −0.279, P = 0.041). There was a significant association between cola intake with the occurrence of low BMD (p = 0.027), whereas tea drinking was not associated with risk in both groups.
Originality/value
The study indicated that there is a direct relationship between osteoporosis and low bone mass with different variables. This study was conducted to address the lack of research related to the levels of vitamin D and calcium in the blood and their relationship with BMD in women with low BMD and osteoporosis in Al-Ahsa province-KSA.
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The purpose of this study is to examine the impact of corporate governance (CG) on intellectual capital efficiency (ICE) in Islamic banks (IBs) of Organisation of Islamic…
Abstract
Purpose
The purpose of this study is to examine the impact of corporate governance (CG) on intellectual capital efficiency (ICE) in Islamic banks (IBs) of Organisation of Islamic Cooperation (OIC) countries.
Design/methodology/approach
A sample of 129 IBs is drawn from the 29 OIC countries from 2008 to 2017. A two-step system of the generalised method of moments has been employed to account for the unobserved endogeneity and heteroscedasticity issue that arose due to time-variant and time-invariant variables.
Findings
The results revealed that CG measures, namely board size, non-executive directors do explain the extent and quality of ICE in the expected direction. In contrast, CEO duality, Shariah board and audit committee are negatively associated with the ICE. Moreover, the authors observed that male CEO in IBs has negative, but foreign ownership has a positive association with ICE in determining the extent of ICE in IBs. This study contributes specifically to the stakeholder theory and the literature of ICE and CG.
Research limitations/implications
The findings of the study provide insight into how a larger board can overcome skill deficiency and how making more investment in ICE would help to enhance productivity. Hence, bank managers, regulators, policymakers and shareholders have strong interest in designing the appropriate CG structure to develop ICE in banks.
Originality/value
This is one of the few studies which provide empirical evidence of CG mechanism to boost the ICE in the perspective of IBs of the OIC countries.
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This study aims to quantify the cost of rebalancing Sharīʿah-compliant indexes, both economically and statistically.
Abstract
Purpose
This study aims to quantify the cost of rebalancing Sharīʿah-compliant indexes, both economically and statistically.
Design/methodology/approach
An empirical approach is employed where the rebalanced Sharīʿah-compliant index is calculated numerous times with different lags in rebalancing, and the number of stocks and their cost across time are determined in order to identify the optimal rebalancing frequency.
Findings
This paper finds that annual Sharīʿah rebalancing does not lead to significant differences in portfolio returns, even though it does bring some advantages in cumulative wealth starting from the third year onwards and brings about better risk-return characteristics measured in terms of the Sharpe ratio. However, these advantages involve an average annual shifting between 30 and 60% of the portfolio market capitalization, which would be costly at any level of transaction costs.
Practical implications
A private investor may be better off holding a constant portfolio and only rebalancing in three-year intervals since this was shown to possess similar portfolio returns and cumulative wealth results. Any advantages of annual rebalancing in terms of risk-return characteristics may be offset by transaction costs of rebalancing. Sharīʿah scholars and practitioners are to determine when the correct time for rebalancing really is, taking into consideration the cost of rebalancing vis-à-vis the advantages in cumulative wealth and risk-return characteristics of the portfolio.
Originality/value
Predictions that Islamic indexes will perform well during financial crises, such as the COVID-19 pandemic, miss the cost of frequent rebalancing. This paper addresses this issue in an empirical manner learning from the previous crisis in 2008.
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