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Article
Publication date: 12 June 2007

Haitham Al‐Zoubi and Bashir Bashir Kh.Al‐Zu’bi

The purpose of this paper is to empirically examine the market efficiency, asymmetric effect and time varying risk–return relationship for daily stock return of Amman Stock…

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Abstract

Purpose

The purpose of this paper is to empirically examine the market efficiency, asymmetric effect and time varying risk–return relationship for daily stock return of Amman Stock Exchange (ASE).

Design/methodology/approach

The Box–Jenkins selection model is used to determine the stochastic process of equity returns; the exponential generalized autogressive conditional heteroscedesticity (EGARCH) and threshhold autoregressive conditional heteroscedasticity in mean are utilized to measure the persistent of volatility, risk–return relationship and volatility magnitude to bad and good news.

Findings

The univariate statistics show negative skewness, excess kurtosis and deviation from normality for the ASE index. The results show that stock return follows an ARMA (1, 1) stochastic process with significant serial correlation, implying stock market inefficiency. The results also show significant positive relationship between equity return and risk in the ASE, which is consistent with the portfolio theory. The EGARCH model suggests the existence of the asymmetric effect.

Originality/value

The paper offers insights into market efficiency, time‐varying volatility and asymmetric effect in the ASE.

Details

Managerial Finance, vol. 33 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 29 August 2008

Haitham A. Al‐Zoubi, Aktham Maghyereh, Bashir Al‐Zu'bi and M. Ishaq Bhatti

The purpose of this paper is to theoretically describe the role of Zakah as a vital tool of fiscal policy in achieving Pareto optimality.

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Abstract

Purpose

The purpose of this paper is to theoretically describe the role of Zakah as a vital tool of fiscal policy in achieving Pareto optimality.

Design/methodology/approach

The paper sets a general equilibrium model that describes the long‐run convergence to a Pareto optimal allocation in a theoretical Islamic economy. The model is based on Diamond criteria where the social planner maximizes the utility of all generations subject to the output of the economy.

Findings

While the government in the capitalist economy issues debt like T‐bills and government bonds to insure Pareto optimality, the paper shows, theoretically, that constructing a Zakah fund can take the role of issuing debt in financial markets. Furthermore, the paper shows that Islamic economy converges to Pareto optimality by its nature without issuing debt in the financial market.

Research implications

This result is very important in describing the strength of the theoretical Islamic economics in achieving dynamic efficiency with least possible interventions. More importantly, the results would help the government in setting an optimal tax rate that insures Pareto efficiency without issuing debt.

Originality/value

This paper attempts to model the actual effects of Zakah as a fiscal policy tool in wealth redistribution in an Islamic economy. In addition, the paper opens a wide channel for future research in conducting monetary and fiscal policy in a government's debt tools economies.

Details

Managerial Finance, vol. 34 no. 10
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 25 September 2019

Samar Rahi, Majeed Mustafa Othman Mansour, Mahmoud Alghizzawi and Feras Mi Alnaser

Technology acceptance, especially internet banking adoption, has become a vital issue in the business world today. The potential of this technology is enormous. The purpose of…

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Abstract

Purpose

Technology acceptance, especially internet banking adoption, has become a vital issue in the business world today. The potential of this technology is enormous. The purpose of this study is to ascertain determinants of internet banking adoption using unified theory of acceptance and use of technology (UTAUT) and electronic service (e-service) quality, which accounts for changes in user’s intention to adopt internet banking.

Design/methodology/approach

The authors collected data from customers of commercial banks using structured questionnaires. The data were collected in four weeks in the beginning of September 2017. A two-stage approach of confirmatory factor analysis (CFA) and structural equation modeling (SEM) were used for data analysis.

Findings

The results reveal that integrated UTAUT model had significant influence on user intention to adopt internet banking. Findings of the SEM indicated that approximately 80 per cent of the variance in user intention to adopt internet banking was accounted by predictors. The study schematized that assurance is the most influential factor among all other technology and service quality factors. Additionally, performance expectancy and effort expectancy were found to be positive and significant mediator variables among website design, customer service and customer’s intention to adopt internet banking.

Practical implications

It is recommended that both website designers and managers should focus on technology and service quality factors to boost the confidence of internet banking users. Importance performance matrix analysis suggested that managers should provide assurance to internet banking users, so that they could maintain a long-term relationship with internet banking services. The study calls researchers to test the integrated UTAUT model in other electronic commerce (e-commerce) domains such as online booking or online shopping websites.

Originality/value

To the best of author’s knowledge, this study is the first that extend the UTAUT model with four e-service quality dimensions, namely, website design, customer service, assurance and reliability to investigate user’s intention to adopt internet banking in developing country context of Pakistan. More importantly, the mediating role of performance expectancy and effort expectancy is examined first time within integrated UTAUT model. Furthermore, the integration of UTAUT model contributes to the advancement of internet banking acceptance and offers useful insights to researchers and policy-makers on how to enhance internet banking acceptance among customers of commercial banks.

Details

Journal of Research in Interactive Marketing, vol. 13 no. 3
Type: Research Article
ISSN: 2040-7122

Keywords

Open Access
Article
Publication date: 23 August 2024

Samuel Affran, Emma Doreen Otiwaa Oppong and Joseph Yenabil Kolug

Family businesses are on the rise and facing severe sustainability challenges. The overall purpose of this thesis is to examine the moderating role of technological resources in…

Abstract

Purpose

Family businesses are on the rise and facing severe sustainability challenges. The overall purpose of this thesis is to examine the moderating role of technological resources in the relationship between marketing innovation and family business sustainability.

Design/methodology/approach

From a post-positivist perspective, this study utilized a quantitative approach and causal research design. 204 family businesses within the Accra Metropolitan Assembly were sampled for this study. Structural Equation Modeling (SMART PLS 4) was utilized for data analysis after a closed-ended questionnaire was used to gather data.

Findings

It was evidenced that marketing innovation has a positive significant effect on family business sustainability. Technological resources have a negative significant moderating effect on the relationship between marketing innovation and family business sustainability.

Originality/value

The originality of this study lies in examining the moderating effect of technological resources on the relationship between marketing innovation and family business sustainability in Ghana, where this phenomenon is less explored.

Details

IIMBG Journal of Sustainable Business and Innovation, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2976-8500

Keywords

Article
Publication date: 19 November 2020

Mahmoud Mohammad Migdadi

The purpose of this study is to introduce a unified framework which integrates knowledge management processes (knowledge creation, sharing, storage and documentation and…

2275

Abstract

Purpose

The purpose of this study is to introduce a unified framework which integrates knowledge management processes (knowledge creation, sharing, storage and documentation and acquisition), innovation capability (product, process, marketing and organizational and organizational performance (operational, financial and product quality). Then empirically test the effect of knowledge management processes (KMP) on innovation capability (IC), the effect of IC on organizational performance (OP) and the impact of KMP on OP through the mediator (IC).

Design/methodology/approach

A questionnaire was designed and addressed to the general managers of the Jordanian companies making up the target population. Statistical techniques employed included confirmatory factor analysis and structural equation modeling (SEM) using AMOS 24 to test the hypotheses.

Findings

The results show that KMP influences IC, IC affects OP and KMP impacts OP through the mediator (IC).

Research limitations/implications

The use of longitudinal data and comparisons with this study would provide further insights that would assist in generalizing knowledge related to the relationships among KMP, IC and Os' P.

Practical implications

If organizations fully comprehend KMP and IC, they would be able to implement them successfully, creating value for their companies and improving OP.

Originality/value

The existing research on KMP and IC is primarily conceptual and descriptive in nature, and empirical research confirming the real impact of KMP when developing IC is lacking. Also. the relationship between innovation capabilities and OP has not been adequately studied. Hence, this study introduces a conceptual framework which integrates KMP, IC and OP and simultaneously empirically tests the relationships among them.

Details

International Journal of Productivity and Performance Management, vol. 71 no. 1
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 5 February 2018

Mohammed Y.A. Rawwas, Basharat Javed and Muhammad Naveed Iqbal

The purpose of this paper is to expand previous theories of motivation and religious ethics by examining the moderation effect of Islamic work ethic (IWE) on the relationship…

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Abstract

Purpose

The purpose of this paper is to expand previous theories of motivation and religious ethics by examining the moderation effect of Islamic work ethic (IWE) on the relationship between perception of politics (POP) and job satisfaction, and turnover intention and negligent behavior (NB).

Design/methodology/approach

The sample consisted of 260 workers employed in various sectors in an Asian country. Multiple linear regression analyses were used to test the main effect of the five hypotheses. In addition, moderated models are used to identify factors (IWE) that may change the relationship between independent and dependent variables.

Findings

Results revealed that POP was negatively related to job satisfaction, and positively related to turnover intention and NB. IWE was positively related to job satisfaction, and negatively related to turnover intention (confirming previous research findings), and NB (a contribution of the current study). Furthermore, when the moderator variable of IWE was introduced to the relationship between POP and job outcomes, the influence and direction of the POP were altered (a major contribution of this study). In other words, the moderator variable strengthened job satisfaction and reduced both turnover intention and NB of organizational workers.

Originality/value

When the moderator variable of IWE was introduced to the relationship between the POP and job outcomes, the influence and direction of the POP were altered (a major contribution of this study).

Details

Personnel Review, vol. 47 no. 1
Type: Research Article
ISSN: 0048-3486

Keywords

Article
Publication date: 2 September 2014

Lama Tarek Al-Kayed, Sharifah Raihan Syed Mohd Zain and Jarita Duasa

This paper aims to examine the effect of capital structure on Islamic banks’ (IBs) performance to provide guidance to finance managers for raising capital funds. As newcomers to…

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Abstract

Purpose

This paper aims to examine the effect of capital structure on Islamic banks’ (IBs) performance to provide guidance to finance managers for raising capital funds. As newcomers to the markets, IBs are facing a trade-off. They can either use high capital ratios which increase the soundness and safety of the bank and lower the required return by investors, or depend on deposits and Islamic bonds which are considered cheaper sources of funds due to their tax rebate. An IB’s management must carefully decide the appropriate mix of debt and equity, i.e. capital structure, to maximize the value of the bank.

Design/methodology/approach

Using a sample of 85 IBs covering banking systems in 19 countries, the study uses a two-stage least squares method to examine the performance determinants of IBs to control the reverse causality from performance to capital structure.

Findings

After control of the macroeconomic environment, financial market structure and taxation, results indicate that IBs’ performance (profitability) responds positively to an increase in equity (capital ratio). The result is consistent with the signaling theory which predicts that banks expected to have better performance credibly transmit this information through higher capital. Optimal capital structure results of the IBs found a non-monotonic U-shaped relationship between the capital-asset ratio and profitability, supporting the efficiency risk and franchise value hypotheses.

Research limitations/implications

Due to limitations for market data, the study uses book accounting ratios. Future research where market data are available could use performance measures, such as Tobin’s Q in performance determinants models.

Practical implications

The non-monotonic relationship found between IBs’ return on equity and capital ratios suggests that equity issuances for IBs’ with low capital ratios (lower than the turning point of 37.41 per cent) are expensive and have a negative effect on their profitability. On the other hand, managers of well-capitalized IBs (banks with capital ratios beyond 37.41 per cent) are advised to rely on equity when faced by a decision to raise capital, as the capital ratio starts to affect their profitability positively.

Originality/value

Islamic banking literature has been silent on IBs’ capital structure and its relevance; this study will try to fill in the existent gap.

Details

Journal of Islamic Accounting and Business Research, vol. 5 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 25 October 2022

Victor Diogho Heuer de Carvalho and Ana Paula Cabral Seixas Costa

This article presents two Brazilian Portuguese corpora collected from different media concerning public security issues in a specific location. The primary motivation is…

Abstract

Purpose

This article presents two Brazilian Portuguese corpora collected from different media concerning public security issues in a specific location. The primary motivation is supporting analyses, so security authorities can make appropriate decisions about their actions.

Design/methodology/approach

The corpora were obtained through web scraping from a newspaper's website and tweets from a Brazilian metropolitan region. Natural language processing was applied considering: text cleaning, lemmatization, summarization, part-of-speech and dependencies parsing, named entities recognition, and topic modeling.

Findings

Several results were obtained based on the methodology used, highlighting some: an example of a summarization using an automated process; dependency parsing; the most common topics in each corpus; the forty named entities and the most common slogans were extracted, highlighting those linked to public security.

Research limitations/implications

Some critical tasks were identified for the research perspective, related to the applied methodology: the treatment of noise from obtaining news on their source websites, passing through textual elements quite present in social network posts such as abbreviations, emojis/emoticons, and even writing errors; the treatment of subjectivity, to eliminate noise from irony and sarcasm; the search for authentic news of issues within the target domain. All these tasks aim to improve the process to enable interested authorities to perform accurate analyses.

Practical implications

The corpora dedicated to the public security domain enable several analyses, such as mining public opinion on security actions in a given location; understanding criminals' behaviors reported in the news or even on social networks and drawing their attitudes timeline; detecting movements that may cause damage to public property and people welfare through texts from social networks; extracting the history and repercussions of police actions, crossing news with records on social networks; among many other possibilities.

Originality/value

The work on behalf of the corpora reported in this text represents one of the first initiatives to create textual bases in Portuguese, dedicated to Brazil's specific public security domain.

Details

Library Hi Tech, vol. 42 no. 4
Type: Research Article
ISSN: 0737-8831

Keywords

Article
Publication date: 10 May 2023

Sri Herianingrum, Indri Supriani, Raditya Sukmana, Effendie Effendie, Tika Widiastuti, Qudsi Fauzi and Atina Shofawati

This study aims to analyze the concept of Zakat as an instrument to increase the economy and poverty eradication in Indonesia.

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Abstract

Purpose

This study aims to analyze the concept of Zakat as an instrument to increase the economy and poverty eradication in Indonesia.

Design/methodology/approach

This study used a qualitative method based on library research sourced from books, financial reports and another previous research.

Findings

The results show that the empowerment programs conducted by Zakat institutions in Indonesia are based on the scale of priorities and the potential of Mustahik. Zakat management considers the level of productivity and long-term impacts that improve Mustahik Economy. Thus, the empowerment programs lead to the reduction of Mustahik living below poverty line.

Research limitations/implications

This study contributes in two ways: first, it analyzes a model to identify the Mustahik’s potential for the Zakat institution in Indonesia. Second, it encourages the awareness of Muzakki and Mustahik regarding the role of Zakat in the Indonesian economy. This is expected to prompt their level of participation in optimizing the potential of Zakat in Indonesia.

Originality/value

Given the scarce literature that provide qualitative and critical reviews of the implementation Zakat empowerment programs to alleviate poverty conducted by the Zakat institutions in Indonesia, this research can act as a bridge for future research in performing empirical studies regarding the impact of a Zakat empowerment program on society.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 7 November 2022

Rashmi Ranjan Panigrahi, Jamini Ranjan Meher, Avinash K. Shrivastava, Gokulananda Patel and Lalatendu Kesari Jena

The purpose of this paper is to examine the impact of knowledge of inventory management practices (KIMP) on operational performance (OP) and business performance (BP). This study…

Abstract

Purpose

The purpose of this paper is to examine the impact of knowledge of inventory management practices (KIMP) on operational performance (OP) and business performance (BP). This study emphasized understanding the mediational effect of OPs among KIMP and BP in manufacturing firms of Indian small- and medium-sized enterprises (SMEs).

Design/methodology/approach

This study analysed the above relationship from the data collected from 351 key officials of 170 Indian SMEs. The detailed analysis, including reliability, validity and testing hypothesis, was done in advanced SmartPLS-SEM 3.3.3 software.

Findings

The findings show that KIMP directly influences OP; thus, a company's OP significantly impacts the overall BP. The KIMP has no significant effect on BP. In line with this, the study findings demonstrate a significant, high mediation effect of OPs between KIMP and BP.

Originality/value

The KIMP on OP has been sparsely studied earlier, and neither have they conceptualized in understanding its impact on BP. In such tumultuous times, key manufacturing executives should stress the importance of KIMP as a comprehensive perspective.

Details

Global Knowledge, Memory and Communication, vol. 73 no. 6/7
Type: Research Article
ISSN: 2514-9342

Keywords

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