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Empirical works on examining taxpayer compliance and judiciously targeting risky taxpayers from a population of large taxpayers are hitherto scarce. This paucity of research has been the main result of the limited set of taxpaid data available at a micro level to researchers. It is in this context, the objective of this paper is to suggest a benchmarking method, which takes into account firm‐specific, particularly governance characteristics, to identify and measure the extent of taxpayer compliance with the limited amount of data available. It is expected that this method will be of much value to tax administrations and compliance managers. Our approach to compliance is based on comparisons among taxpayers of the extent of under‐reporting of income, as well as over‐reporting of reconciliation deduction and cost items. The workability of the proposed model is demonstrated using data from the Australian services industry.

The study aims to investigate the influence of corporate governance practices on enhancing firm value in manufacturing industries in Bangladesh.

The study sample consists of 131 companies from 10 manufacturing industries listed in Dhaka stock exchange (DSE). Using the multiple regression method, the study analyzed 1,193 firm-year observations from 2012 to 2021.

The outcome reveals that managerial ownership, foreign ownership, ownership concentration, board size, board independence, board diligence and auditor quality have a significant positive influence on firm value. In contrast, audit committee size has no significant influence on firm value.

The practical implications of the current study demonstrated that good corporate governance creates value and must be invigorated for the interest of all stakeholders. Policymakers should formulate specific guidelines regarding firms' ownership structure and audit quality issues.

This study aims to investigate the effect of corruption on military expenditures in three income level countries. An annual data series of 97 countries covering high-income, middle-income, and low-income regions from 1997 to 2015 is used.

The cross-sectional dependency and integration property of the data series was checked before applying the generalized method of moments approach to test the model.

The results of the system generalized method of moments approach suggest that corruption increases the military budget of high-income countries, whereas corruption reduces the military budget of the middle- and low-income countries.

This paper offers some substantial implications for the policymakers of each income group to curb corruption and improve economic development.

Despite the reasonable surge of remittances and imports in Pakistan, very less attention has been given to this area. To bridge the gap, this study aims to explore the relationship of worker’s remittances and imports of Pakistan at both aggregate and disaggregate levels. Also, this research focuses on investigating whether remitted income substitute or complement imports of the country.

To achieve these goals, the authors use annual time-series data from 1974–2016.

Empirical findings obtained from the autoregressive distributed lag model method suggest that remittances substitute imports in Pakistan. It is also found that remittances not only substitute aggregate imports but also act as a substitute at different disaggregated levels. Further, it is documented that higher economic growth increases imports, whereas the real exchange rate for imports is inversely related to imports at both levels.

These empirical findings also draw some substantive policy implications for the state owners and policy advisers.

This paper aims to determine the preferable destinations of money laundered from Pakistan by using the Walker’s Gravity Model and to estimate the amount of money laundered through 156 countries. The research aims to facilitate policymakers and regulators to provide more efficient guidelines to counter the problem of money laundering.

This study uses a descriptive and quantitative approach. This study uses the Walker’s Gravity Model updated by Unger et al. (2006) to measure money laundering in Pakistan; Walker’s Gravity Model was first developed by John Walker in 1994.

The results indicate that Pakistani money launderers preferred countries having large financial sectors and political stability to hide their illegal money. In addition, the study estimates the amount of money laundered and shows that Pakistan has lost bulk of funds.

The major limitation is the non-availability of reliable data as the activity is hidden. Reliable data is either not available officially or scattered. Available data only reflect aspects that are reported. Non-availability of statistics for all years and countries resulted in the omission of some countries.

The study helps legislators and policymakers, including the Ministry of Finance, State Bank of Pakistan, Securities and Exchange Commission Pakistan, and other regulators, including law enforcement agencies and financial institutions, in formulating effective policies, regulations and internal control.

The study helps to identify the need of estimating the amount of money laundered to fight the problem effectively. Very few efforts have made to determine the size and the amount of money laundered, and this is the first study to determine the amount of money flowing out of Pakistan with the purpose of laundering.

Organizations today strive to differentiate themselves from others with the help of various tools. Aaker’s brand personality model is one of them. It comprises five components namely, sincerity, excitement, sophistication, competence and ruggedness. This model has been tested and supported by various scholars in the past. Similarly, it also attracted a lot of criticism especially in terms of generalizability across countries and cultures. The purpose of this paper is twofold: first, to study Aaker’s model from an Islamic perspective; second, considering the dearth of brand personality knowledge in the services sector, to develop Islamic Banks’ Brand Personality (IBBP) model.

To propose IBBP model, traits in Aaker’s model have been investigated in the light of selected Quranic verses and sayings of Prophet Muhammad (ahadith). Later on, content validation was conducted as a pilot study with experts from the relevant fields.

Findings exhibit that Quran and hadith clearly elaborate and support majority dimensions of the existing model. Importantly, three new dimensions, namely, trustworthiness, justice and Shariah compliance, were added to develop a comprehensive IBBP model. Once the dimensions of IBBP model were finalized, the underlying items were content validated from 12 experts. Most of the items were approved; some were recommended for amendments and a few items were eliminated.

This research contributes to the branding as well as bank marketing literature as it is the first Islamic banks’ brand personality framework. With the help of IBBP model, Islamic banks can create a better brand image, use advertising strategies effectively and ultimately retain existing and attract more potential customers.

This research elaborates the personality traits of Muslim consumer market. Following IBBP model, financial needs of Muslim consumer market can be catered effectively.

The IBBP model being first of its kind is significant for Islamic banking industry as it reflects dimensions that are supported by the Quran and hadith, and therefore suits Muslim customer market.

Despite widespread acceptance and exponential growth of Islamic banking across many countries, research indicates some critical issues that can potentially downturn this industry. Literature suggests that like other stakeholders such as customers, some employees too have ambivalent attitude towards its concept and practices. This calls for an empirical assessment. As no such comprehensive instrument was available, this study aims to develop a scale measuring employees' attitude towards Islamic banking.

This scale development process begins with literature review pertinent to employees’ perspective in Islamic banking, followed by a series of steps critical to achieve robustness and to ensure validity and reliability of the instrument. Research methods include a detailed set of qualitative interviews, content validation, pilot testing and exploratory factor analysis with subsequent confirmatory factor analysis.

The final scale embodies five orthogonal dimensions: awareness of Islamic banking, usefulness of Islamic banking, perception of Shariah compliance, patronage towards Islamic banking and attractiveness towards Islamic banking.

This instrument may be used both by research scholars and practicing managers to measure employees’ attitude towards Islamic banking system and practices. It may also serve as a diagnostic tool to identify the areas of strength and weaknesses in the Islamic banking system as perceived by the employees themselves.

An instrument to measure employees’ attitude towards Islamic banking system is much needed as no such comprehensive instrument is available to the best of authors’ knowledge. The study attempts to fulfil this need.

This study aims to examine the hedge and safe-haven properties of the Sukuk and green bond for the stock markets pre- and during the COVID-19 pandemic period.

To test the hedge and safe-haven characteristics of Sukuk and green bonds for stock markets, the study first uses the methodology proposed by Ratner and Chiu (2013). Next, the authors estimate the hedge ratios and hedge effectiveness of using Sukuk and green bonds in a portfolio with stock markets.

Strong safe-haven features of ethical (green) bonds reveal that adding green bonds into the investment portfolios brings considerable diversification avenues for the investors who tend to take fewer risks in periods of economic stress and turbulence. The hedge ratio and hedge effectiveness estimates reveal that green bonds provide sufficient evidence of the hedge effectiveness for various international stocks.

The study has significant implications for faith-based investors, ethical investors, policymakers and regulatory bodies. Religious investors can invest in Sukuk to relish low-risk and interest-free investments, whereas green investors can satisfy their socially responsible motives by investing in these investment streams. Policymakers can direct the businesses to include these diversifiers for portfolio and risk management.

The study provides novel insights in the testing hedge and safe-haven attributes of green bonds and Sukuk while using unique methodologies to identify multiple low-risk investors for investors following the uncertain COVID-19 pandemic.

The learning outcomes are as follows: to analyze the multidimensional and complex crises, and market stature of a company that was a market and industry leader in a developing country; to evaluate and interpret the outcomes of decisions pertaining declining profits, outstanding receivables, branding, marketing and radical reforms to overcome the challenges of sustainable growth, customers and employees’ loyalty, market stature and leadership crises; and to design strategic solutions for sustaining its leadership position and combating severe challenges.

The purpose of this paper is to ponder upon various crises that Pakistan State Oil (PSO) was facing, so that learners can critically analyze, assess and design strategic solutions for it. PSO was the state-run market leader in the petroleum industry. The company had been struggling to combat multiple types of turmoil at a time. Its huge fund of receivables was blocked in circular debt that caused the company budget constraints and deficits. Due to a government policy shift, the demand for its furnace oil substantially reduced and profits plummeted. The countless internal and external crises posed severe menace to its competitive position vis-a-vis its rivals. This qualitative case study garners data from eight interviews from senior managers in the petroleum industry and adds content analysis technique to acquire pertinent data from renowned media sources and subsequent analysis. The drastic crises left PSO with dearth of funds and declining profitability. Consequently, due to limited marketing budget, creativity of its marketing team for devising effective marketing programs to raise market share was compromised. PSO underwent the issues of brand sustainability, sustainable growth, customers and employees’ loyalty, and market stature to financial and leadership crises. However, despite limitations, it still enjoyed a market leadership position among its rivals in the industry by occupying more than half of the chunk of market in the petroleum industry. This is a unique case study of a state-owned giant company facing multidimensional menaces. It offers tremendous learning opportunities for students who can devise creative strategic solutions and link theories and models with practice.

Graduate (MBA), MS, PhD (management and administrative sciences); Suitable for teaching in chapters: Anywhere but ideally near the middle or end of the above courses.

Teaching notes are available for educators only.

CCS 11: Strategy.

Utilizing affective event theory (AET), this paper aims to understand the affective reasoning behind choosing to speak up for or against abusive supervision. For this purpose, the authors examine the underlying mechanism of employee state paranoia in the relationship between abusive supervision and promotive and prohibitive voice of employees.

Data from 307 microfinance bank employees were collected using supervisor–subordinate nested design and time-lag approach. The analysis was performed through partial least square (PLS) structural equation modeling using Smart PLS software.

The results support the direct relationship of abusive supervision with promotive and prohibitive voice. They also support the mediating relation of paranoia arousal between abusive supervision and promotive voice. However, the results do not support the mediating relationship of paranoia arousal between abusive supervision and prohibitive voice.

In light of the literature drawn from AET and empirical data, this study forwards robust recommendations for theory and practice and may assist future researchers interested in the role of employee paranoia arousal.