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1 – 10 of 15Muhammad Farooq, Imran Khan, Qadri Al Jabri and Muhammad Tahir Khan
The study hypothesized that the impact of board diversity on financial distress (FD) is not direct but rather mediated by the firm’s corporate social responsibility (CSR…
Abstract
Purpose
The study hypothesized that the impact of board diversity on financial distress (FD) is not direct but rather mediated by the firm’s corporate social responsibility (CSR) activities. Consequently, the purpose of this study is to examine the impact of CSR as a mediator in the board diversity–FD relationship.
Design/methodology/approach
The study examined six board diversity dimensions – age, gender, nationality, education and tenure in 81 nonfinancial Pakistan Stock Exchange (PSX)-listed firms from 2010 to 2021. The CSR engagement of the sample firms is evaluated using a multidimensional financial approach and the likelihood of FD is computed using Altman’s Z-score. The system-generalized method of moments estimator is used to meet the study objectives. In addition, several tests are run to determine the robustness of the study’s findings.
Findings
Based on the procedure for mediation analysis outlined by Baron and Kenny (1986), the authors found that CSR is significantly inversely associated with the likelihood of FD. Second, board diversity variables age, gender and national diversity were positively associated with CSR. Third, board age, gender and national diversity are significantly inversely related to FD. Finally, it was found that there is partial mediation between board age diversity and FD, whereas full mediation is shown between board age diversity and FD and between board nationality diversity and FD.
Practical implications
This study provides practical insights into PSX’s board diversity for companies, regulators and policymakers.
Originality/value
This research studies the connection between board diversity and FD. In addition, the current study extended the analysis by testing for the first time the mediating role of CSR in the diversity–distress relationship, particularly in the context of an emerging economy.
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Hafiz Muhammad Muien, Sabariah Nordin and Bazeet Olayemi Badru
As the benefit of gender diversity continues to receive significant attention, a holistic investigation of its effect on corporate financial distress (CFD) is lacking. Therefore…
Abstract
Purpose
As the benefit of gender diversity continues to receive significant attention, a holistic investigation of its effect on corporate financial distress (CFD) is lacking. Therefore, this study examines the effects of board gender diversity, measured in different forms, such as the presence and proportion of female directors, family-affiliated female directors and the chief executive officer (CEO) gender, on CFD in Pakistan. The study also investigates the interacting effects of family-controlled (20 and 50% family-owned) companies on the association between board gender diversity and CFD.
Design/methodology/approach
The study applied the pooled cross-sectional logistic regression model to examine the effect of board gender diversity (presence and proportion of female directors, family-affiliated female directors and CEO gender) on CFD through a sample of 285 non-financial companies in Pakistan over the period of 2006–2017.
Findings
The results reveal that gender diversity on boards is significantly and negatively associated with CFD in Pakistan. In addition, when family ownership is 50% or more, the interacting effect of family control is found to be significant, while gender effects remain negative. The results suggest that female directors contribute to the long-term viability of companies, especially family-owned companies. Female directors are also found to be more prevalent in family-owned companies compared to their non-family counterparts.
Research limitations/implications
The findings imply that female directors may efficiently manage and control all functions necessary to guarantee the company's long-term prosperity. Similarly, gender effects can outweigh the detrimental impact of family control when female directors are in reasonable numbers and of high quality in the boardroom.
Practical implications
The practical relevance of the findings is that female directors play a significant role on the corporate board. Thus, it is a wakeup call for Pakistani companies to recognize the critical role and uniqueness of women on the corporate ladder. Family companies can also galvanize on the uniqueness of women to improve their governance structure.
Originality/value
This study adds to the literature on the benefits of gender diversity in family and non-family-owned companies. Specifically, this study applied multiple measures of gender diversity and family control in a single study. In addition, the study was conducted in a country that is ranked as the second worst country in the Global Gender Gap Index 2022, implying that investigating this type of research would go a long way towards changing the minds of corporate executives and regulators about the critical role that women can play in the economy.
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Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the…
Abstract
Purpose
Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the constantly developing subject of stock market volatility during crises. In outline, this study aims to map the extant literature available on stock market volatility during crisis periods.
Design/methodology/approach
The present study reviews 1,283 journal articles from the Scopus database published between 1994 and 2022, using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 flow diagram. Bibliometric analysis through software like R studio and VOSviewer has been performed, that is, annual publication trend analysis, journal analysis, citation analysis, author influence analysis, analysis of affiliations, analysis of countries and regions, keyword analysis, thematic mapping, co-occurrence analysis, bibliographic coupling, co-citation analysis, Bradford’s law and Lotka’s law, to map the existing literature and identify the gaps.
Findings
The literature on the effects of crises on volatility in financial markets has grown in recent years. It was discovered that volatility intensified during crises. This increased volatility can be linked to COVID-19 and the global financial crisis of 2008, as both had massive effects on the world economy. Moreover, we identify specific patterns and factors contributing to increased volatility, providing valuable insights for further research and decision-making.
Research limitations/implications
The present study is confined to the areas of economics, econometrics and finance, business, management and accounting and social sciences. Future studies could be conducted considering a broader perspective.
Originality/value
Most of the available literature has focused on the impact of some particular crises on the volatility of financial markets. The present study is not limited to some specific crises, and the suggested research directions will serve as a guide for future research.
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Ayman Issa, Ahmad Sahyouni and Miroslav Mateev
This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North…
Abstract
Purpose
This paper aims to examine how the diversity of educational levels within bank boards influences the efficiency and stability of banks operating in the Middle East and North Africa (MENA) region. Unlike previous studies, this analysis also investigates the role of board gender diversity in moderating the relationship between board educational level diversity and bank efficiency and financial stability in MENA.
Design/methodology/approach
In this study, a sample of 77 banks in the MENA region spanning the years 2011 to 2018 is used. The relationship between the presence of highly educated directors on the board, bank efficiency and stability is assessed using the ordinary least squares method. Additionally, the authors use the Generalized Method of Moments technique to correct endogeneity problem.
Findings
This study establishes a positive association between the presence of directors with advanced educational backgrounds on bank boards and bank efficiency and stability. Furthermore, the inclusion of women on the board strengthens this relationship.
Practical implications
These findings have important implications for policymakers and regulators in the MENA region, suggesting that promoting diversity policies that encourage the participation of highly educated directors on bank boards can contribute to enhanced efficiency and financial stability. Policymakers may also consider implementing quotas or guidelines to improve gender diversity in board appointments, thereby fostering bank performance in the region.
Originality/value
This study stands out for its innovation and distinctiveness, as it delves into the connection between board educational level diversity and bank efficiency in the MENA region. Notably, it surpasses previous research by investigating the moderating role of board gender diversity, thus offering valuable insights into the complex interplay between these two facets of board diversity. This contribution enriches the existing literature by providing novel perspectives on board composition dynamics and its influence on bank efficiency and stability.
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Hajira Liaqat, Ishfaq Ahmed and Sheikh Usman Yousaf
This study aims to explore the phenomenon of Islamic religious communication and how Islamic banks in Pakistan use religion-based communication, along with its expected outcomes.
Abstract
Purpose
This study aims to explore the phenomenon of Islamic religious communication and how Islamic banks in Pakistan use religion-based communication, along with its expected outcomes.
Design/methodology/approach
Transcendental phenomenology approach is opted using a multi-stage data collection strategy consisting of observations, documentary reviews and semi-structural interviews to get deep into the phenomenon in a particular context.
Findings
Findings highlight Islamic religious communication as workplace Islamic da’wah that is majorly categorized into compulsive da’wah, objectics da’wah and impulsive da’wah, serving its role in bringing spirituality to work through work-faith integration.
Research limitations/implications
The finding of the study can be used in planning, formulating and implementing Islamic da’wah-based model to induce spirituality at work.
Originality/value
This study is the first of its type exploring Islamic da’wah in an organizational context as a mean to bring spirituality at work.
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Hina Munir, Shazia Nauman, Farough Ali Shah and Umair Zahid
Drawing on social cognitive career theory (SCCT), this study aims to examine how university students’ attitude towards entrepreneurship education (ATEE) consists of affective…
Abstract
Purpose
Drawing on social cognitive career theory (SCCT), this study aims to examine how university students’ attitude towards entrepreneurship education (ATEE) consists of affective, cognitive and behavioral components influences their entrepreneurial intentions. It further examines the role of entrepreneurial self-efficacy (ESE) as a mediator and social norms as a moderator in the ATEE – entrepreneurial intentions and – ESE relationships, respectively.
Design/methodology/approach
A sample of 428 university students from the new generational cohort entering workforce now (i.e. generation Z) from the four main cities of the province of Punjab, Pakistan, were considered using an online administered questionnaire. The study analyzes data using SPSS v25 and AMOS v22 and presents descriptive statistics, reliability, validity analysis and linear regression analysis. Furthermore, to test mediation and moderation hypotheses, Hayes’ PROCESS macro v3.0 was used.
Findings
The results confirm that individuals’ ATEE based on affective, cognitive and behavioral components have significant influence on entrepreneurial intentions. The findings also confirm the strong mediating role of ESE between the components of ATEE and entrepreneurial intentions. Furthermore, the conditional effects results confirm that social norms strengthened the positive relationships between the affective, behavioral and cognitive components of ATEE – ESE at three levels (low, medium and high).
Originality/value
This study is the first of its nature to unlock the missing link between ATEE’s components and entrepreneurial intentions using the theoretical foundations of SCCT. Furthermore, this study provides theoretical and practical implications specifically considering a developing country – Pakistan.
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Toan Thi Phuoc Dang and Vinh Thi Thanh Do
This study offers an empirical framework for how hotel employees CSR perceptions affect their job satisfaction by incorporating the parallel mediating roles of organizational…
Abstract
Purpose
This study offers an empirical framework for how hotel employees CSR perceptions affect their job satisfaction by incorporating the parallel mediating roles of organizational identification and psychological contract fulfillment. In addition, it examines the moderator effects of employees' CSR-induced attributions on the constructed mediated model, providing a powerful lens through which to evaluate when and how employees' CSR perceptions influence organizational identification and psychological contract fulfillment.
Design/methodology/approach
The study use PLS-SEM techniques to analyze a sample of 520 employees from 49 luxury hotels with 4–5 stars in Khanh Hoa province, Vietnam.
Findings
The results show that CSR positively influences job satisfaction through the mediating role of psychological contract fulfillment and organizational identification. Besides, attachment styles also play moderator role in the relationship between CSR and psychological contract fulfillment/organizational identification.
Practical implications
The discoveries elucidated within this research endeavor proffer actionable discernments to be earnestly contemplated by professionals entrenched in the hotel industry, earnestly aspiring to ameliorate the contentment of their workforce and, concomitantly, augment the overarching efficacy of their organizational operations.
Originality/value
This study provides human resource departments with insights and suggestions for maximizing the efficacy of CSR implementation in the hotel industry.
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Naimatullah Shah, Safia Bano, Ummi Naiemah Saraih, Nadia A. Abdelmageed Abdelwaheed and Bahadur Ali Soomro
Talent management research today is increasing as organizational requirements attempt to meet the challenges of effectively managing talent to achieve organizations’ strategic…
Abstract
Purpose
Talent management research today is increasing as organizational requirements attempt to meet the challenges of effectively managing talent to achieve organizations’ strategic agendas. However, in learning organizations specifically, investigations of talent management practices are limited, with this study exploring the role of talent management practices in employee satisfaction and organizational performance in Pakistan.
Design/methodology/approach
The study was conducted in various universities (public and private) in Pakistan using a quantitative approach. Cross-sectional data are collected through a questionnaire, with analysis and conclusions based on completed questionnaires from 403 respondents.
Findings
The study’s findings from the analysis by structural equation modeling (SEM) emphasize the positive and significant effects of most talent management practices (i.e. talent identification, talent development, talent culture and talent retention) on employee satisfaction and organizational performance (talent attraction is the exception). Employee satisfaction positively and significantly affects organizational performance and is found to have a mediating effect, bridging the relationships of most talent management practices (talent identification, talent development, talent culture and talent retention) with organizational performance.
Practical implications
The study’s findings support human resource professionals, academics and policymakers in managing talent practices to enhance organizational performance. The findings assist in developing core skills and talent-related competencies to achieve organizational goals and success.
Originality/value
The study fills the research gaps by developing a framework of talent management practices for employee satisfaction and organizational performance in learning organizations, which warrants further consideration.
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Manpreet Kaur and Sonia Chawla
The study seeks to conduct an empirical investigation on the impact of entrepreneurship education (EE) through its components, i.e. entrepreneurial knowledge (EK) and business…
Abstract
Purpose
The study seeks to conduct an empirical investigation on the impact of entrepreneurship education (EE) through its components, i.e. entrepreneurial knowledge (EK) and business planning (BP) on entrepreneurial intentions (EI) in India.
Design/methodology/approach
An electronic questionnaire was used to collect data from 340 engineering students and partial least square-structural equation modeling (PLS-SEM) was used to analyze the collected data.
Findings
The findings revealed that EK and BP have no direct impact on EI, however, they have an indirect influence through attitude towards entrepreneurship (ATE) and perceived behavioral control (PBC), whereas subjective norms (SN) have no mediation impact on the relationships.
Research limitations/implications
This research has been conducted on students of engineering background only, future studies can be carried out by incorporating more attitudinal and environmental determinants with larger data sizes from diverse educational streams.
Practical implications
This study is of immense significance to policymakers and educational establishments in designing the purposefully designed EE courses that can drive the entrepreneurial intentionality of students.
Originality/value
The study adds to the paucity of research on the systematic elaboration of EE construct underlining the specific impact of EK and BP as EE dimensions on students' EI. To the best of authors' awareness, this kind of investigation has not been conducted in indian higher educational institution (HEI) context.
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Dag Yngve Dahle and Sivert Skålvoll Urstad
In the deregulated public sector upper secondary school field in Oslo, Norway, turnover among teachers is found to be high. The purpose is to examine whether instrumental…
Abstract
Purpose
In the deregulated public sector upper secondary school field in Oslo, Norway, turnover among teachers is found to be high. The purpose is to examine whether instrumental practices like control-oriented HRM, performance appraisal and heteronomy directly or indirectly lead to turnover intention, as a crucial pre-stage to turnover. Another purpose is to examine whether this varies with feedback format.
Design/methodology/approach
The present study is based on a survey (N = 1,055) carried out among upper secondary school teachers in Norway. Data were analyzed with path analysis, and mediation and moderation analyses were performed.
Findings
The study shows that control-oriented HRM, PA dissatisfaction and heteronomy are antecedents to turnover intention for teachers receiving feedback in three different feedback formats. The effect of control-oriented HRM and PA dissatisfaction on turnover intention was generally not stronger among numerically rated than among those rated otherwise. For most feedback format groups, leader–member exchange mediated between turnover intention and PA dissatisfaction and heteronomy, respectively, but not between turnover intention and control-oriented HRM. For teachers rated with text, figures or colors, LMX moderated between control-oriented HRM and turnover intention.
Research limitations/implications
The paper advances that introduction of instrumental practices will be seen as breaches of the psychological contract, but this does not apply to all feedback format groups, for example those receiving numerically rating. Limitations involve self-reported measures, direction of causality issues and a relatively low sample size for some groups.
Practical implications
Practitioners should note that both control-oriented HRM, performance appraisal and little autonomy may cause teachers to consider leaving their jobs. Practitioners should also be aware of the importance of the relationship between employee and leader, as negative responses to instrumentality may work through the leader–employee relationship, leading to turnover intention and, possibly, turnover.
Originality/value
The present study is among the first to examine whether and how antecedents to turnover intention vary with feedback format. A rare interaction between HRM and LMX is uncovered. Few other studies have analyzed the relationship between instrumental practices and turnover intention in light of psychological contract theory.
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