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Article
Publication date: 16 June 2021

Hadi Saeidi

This study aims to investigate the impacts of the psychological behaviors of managers, including entrenchment, myopia, narcissism and overconfidence, on money laundering…

Abstract

Purpose

This study aims to investigate the impacts of the psychological behaviors of managers, including entrenchment, myopia, narcissism and overconfidence, on money laundering at Iranian companies listed on the Tehran Stock Exchange.

Design/methodology/approach

The present study is descriptive-correlational in terms of methodology and applied research in terms of objectives. The statistical population consisted of all companies listed on the Tehran Stock Exchange during 2013–2019. A total of 150 companies were selected as samples via screening. Logistic regression was used to analyze the data and test the hypotheses in EViews v10.

Findings

The findings revealed that management entrenchment, managerial myopia, managerial narcissism and managerial overconfidence have significant impacts on money laundering.

Originality/value

This study pioneer investigating the impacts of psychological behaviors among managers on money laundering in Iran. As an economic crime, money laundering poses an adverse impact on economic growth in countries. The continuous monitoring of manager performance and the deployment of performance measurement systems could prevent the negative impacts of manager behavior on money laundering.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

Keywords

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Article
Publication date: 9 April 2020

Shaban Mohammadi, Hadi Saeidi and Nader Naghshbandi

The purpose of this study is to examine the effect of board characteristics on money laundering in Iranian listed companies.

Abstract

Purpose

The purpose of this study is to examine the effect of board characteristics on money laundering in Iranian listed companies.

Design/methodology/approach

This was a descriptive-correlational study, and in terms of purpose, it was an applied research. The statistical population of this study was all companies listed in Tehran Stock Exchange during the years 2012-2018. A sample of 150 companies was selected by screening method. Data analysis and hypothesis testing were performed using logistic regression and Eviews 10.

Findings

The results indicated that the board bonus and CEO duality (chief executive officer duality) had a significant effect on money laundering. CEO gender also had a significant effect on money laundering.

Originality/value

Sound management of risks related to money laundering by the board of directors is associated with stability, soundness and overall health of a country's financial system, which enables the integrity of the international financial system by meeting the Basel Committee goals, including strengthening the regulations, monitoring and improving current procedures, promoting financial stability and maintaining and enhancing a good corporate reputation; however, banks and other financial institutions are exposed to more serious risks, especially the reputation risk, operational risk, etc., if management does not play an effective role in the fight against money laundering. If management considers efficient and risk-driven policies and procedures in the fight against money laundering, then many problems and losses as well as many costs, including failure to collect receivables and to bring legal proceedings, can be prevented.

Details

Journal of Money Laundering Control, vol. 23 no. 4
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 18 August 2020

Shaban Mohammadi, Hadi Saeidi and Nader Naghshbandi

The purpose of this study is to investigate the effect of board and audit committee characteristics on corporate social responsibility (CSR) in Iranian companies listed in…

Abstract

Purpose

The purpose of this study is to investigate the effect of board and audit committee characteristics on corporate social responsibility (CSR) in Iranian companies listed in stock exchanges.

Design/methodology/approach

This is a descriptive-correlational and an applied research. The statistical population of this research is all companies listed in Tehran Stock Exchange and the research period is from 2012 to 2018. Using screening method a sample of 150 companies was selected. Multivariate regression and the software Eviews 10 were used for data analysis and hypothesis testing.

Findings

The results indicated that board size had a significant effect on CSR; board independence had a significant effect on CSR; managerial ownership did not have a significant effect on CSR; CEO duality did not have a significant effect on CSR; audit committee size had a significant effect on CSR; audit committee independence had a significant effect on CSR; and financial expertise of audit committee members had a significant effect on CSR.

Originality/value

The present study is the first research performed on the effect of board and audit committee characteristics on CSR in Iran. The results of this study contribute to the literature on the effect of board and audit committee characteristics on CSR and provide suggestions for capital market participants. CSR helps reduce asymmetric distribution of information among the internal and external organizational entities and reduce agency problems and conflicts among different groups. Based on the results, an effective audit committee as an effective mechanism enhances the credibility of financial and non-financial reporting such as social responsibility, which means that an effective audit committee can improve the level of voluntary disclosure of information through effective oversight of the reporting process. It is also suggested that companies focus on audit committee characteristics to increase the level of CSR.

Details

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

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Article
Publication date: 22 July 2021

Muhammad Farooq, Amna Noor and Shahzadah Fahad Qureshi

The present study aims to explore the role of corporate social responsibility (CSR) on the likelihood of financial distress for a sample of 139 Pakistan Stock Exchange…

Abstract

Purpose

The present study aims to explore the role of corporate social responsibility (CSR) on the likelihood of financial distress for a sample of 139 Pakistan Stock Exchange (PSX) listed firms throughout 2008–2019.

Design/methodology/approach

Panel logistic regression (PLR) and the dynamic generalized method of moments (GMM) estimator are used to examine the impact of CSR on financial distress. The investment in CSR measures through a multidimensional financial approach which comprises the sum of the contribution made by the company in the form of charitable donation, employees’ welfare and research and development, whereas the Altman Z-score and ZM-Score are used as an indicator of financial distress. The higher the Z-score lower will be the probability of financial distress, whereas the higher ZM score shows a greater probability of financial distress risk.

Findings

The authors find a significant negative impact of CSR on financial distress in both PLR and GMM models. This finding is consistent with the stakeholder view of CSR, as an investment in CSR not only aligns the interest between shareholders and stakeholders but also mitigates the risk of financial distress as well.

Research limitations/implications

Like other studies, the present study is not free from limitations. First, financial firms skipped from the sample, although literature witnesses a lot of studies highlight the financial firms' commitment to achieving CSR goals. Second, financial distress occurs in different stages, the authors fail to establish linkage CSR engagements at different stages of CSR. In the future, researchers can make a valuable addition by covering these missing links in present studies.

Practical implications

The findings of this study provide more insight to corporate managers and investors about the association between the quality of investment in CSR and the degree of financial distress, concerning Pakistani firms. Furthermore, this study contributes to the existing literature by adding new evidence from developing countries such as Pakistan which are helpful for regulatory bodies and policymakers in the formulation of long-term CSR strategies to manage financial distress.

Originality/value

The study extends the body of existing literature on CSR and the likelihood of financial distress in Pakistan. The results suggest that policymakers may pay special attention to the quality of CSR while predicting corporate financial distress.

Details

Social Responsibility Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1747-1117

Keywords

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Article
Publication date: 16 June 2021

Muhammad Farooq and Amna Noor

This study aims to explore the role of corporate social responsibility (CSR) on the likelihood of financial distress for a sample of 139 Pakistan Stock Exchange (PSX…

Abstract

Purpose

This study aims to explore the role of corporate social responsibility (CSR) on the likelihood of financial distress for a sample of 139 Pakistan Stock Exchange (PSX) listed firms throughout 2008–2019.

Design/methodology/approach

The dynamic generalized method of moments (GMM) estimator is used to examine the impact of CSR on financial distress. The investment in CSR is measured through a multidimensional financial approach which comprises the sum of the contribution made by the company in the form of charitable donation, employees’ welfare and research and development, while the Altman Z-score is used as an indicator of financial distress. The higher the Z-score, the lower will be the probability of financial distress.

Findings

The authors find a significant positive impact of CSR on financial distress in GMM model. This finding is consistent with the shareholder view and over-investment hypothesis of CSR as management makes an investment in CSR to get personal benefits, which resultantly leads the firm toward financial distress state. Further, this positive relationship remains present for firms having strong involvement in foreign business through exports.

Research limitations/implications

Like other studies, the present study is not free from limitations. First, financial firms are skipped from the sample, although literature witnesses a lot of studies highlight the financial firms’ commitment to achieving CSR goals. Second, financial distress occurs in different stages, and this study fails to establish a linkage between CSR engagement at different stages of financial distress. In the future, researchers can make valuable addition by covering these missing links in present studies.

Practical implications

Findings suggest several practical implications. For policymakers, they should encourage firms to adopt more socially responsible behavior as it not only prevents them from distress but also comes with better investment behavior, minimize bankruptcies and make economies more strong and stable. Second, results suggest corporate managers emphasize socially responsible behavior as its benefits are beyond the “societal benefits” as it lessens financial distress through lower cost of debt, lesser financial constraints and reduced cost of information asymmetry, and it minimizes the cost of capital. Lastly, investors make risk premium assessments related to future earnings by determining the likelihood of financial distress in the future.

Originality/value

The study extends the body of existing literature on CSR and the likelihood of financial distress in Pakistan, which is according to the best knowledge of the authors, not yet studied before. The results suggest that policymakers may pay special attention to the quality of CSR while predicting corporate financial distress.

Details

Pacific Accounting Review, vol. 33 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

Content available
Book part
Publication date: 10 December 2018

Seyed Mohammad Moghimi

Abstract

Details

Principles and Fundamentals of Islamic Management
Type: Book
ISBN: 978-1-78769-674-7

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Article
Publication date: 23 August 2021

Anissa Dakhli

The purpose of this paper is to investigate the relationship between ownership structure and corporate social responsibility (CSR). Specifically, this paper examines the…

Abstract

Purpose

The purpose of this paper is to investigate the relationship between ownership structure and corporate social responsibility (CSR). Specifically, this paper examines the impact of financial performance on the relationship between ownership structure and CSR.

Design/methodology/approach

This study uses panel data set of 200 French firms listed during 2007–2018 period. The direct and moderating effects were tested by using multiple regression technique.

Findings

The results indicate that investors have different attitudes toward CSR engagement. While institutional ownership affects positively CSR engagement, managerial ownership shows a negative effect. Findings also show that financial performance accentuates these effects.

Research limitations/implications

The findings have practical implications that may be useful to regulators and managers interested in enhancing CSR. For regulators, the results advise policymakers to restrict managerial ownership and promote institutional investments to improve CSR. For managers, the results suggest developing more sophisticated intervention mechanisms to deal with conflicting voices that could result from different owners’ attitudes toward CSR. As an extension to this research, further study can examine the impact of audit quality on CSR.

Originality/value

This study proposes the establishment of dynamic links between ownership structure and CSR around firm financial performance. In addition, it investigates not only the overall CSR ratings but also each of CSR pillars, namely, environmental, social and governance.

Details

Society and Business Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-5680

Keywords

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Book part
Publication date: 24 November 2010

Abstract

Details

Tourism in the Muslim World
Type: Book
ISBN: 978-1-84950-920-6

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Article
Publication date: 20 August 2021

Kathirvel Selvaraju and Punniyamoorthy Murugesan

The purpose of this article is to develop a cost-effective model for Multi-Criteria ABC Inventory Classification and to measure its performance in comparison to the other…

Abstract

Purpose

The purpose of this article is to develop a cost-effective model for Multi-Criteria ABC Inventory Classification and to measure its performance in comparison to the other existing models.

Design/methodology/approach

Particle Swarm Optimization (PSO) algorithm is exclusively designed for Multi-Criteria ABC Inventory Classification wherein the inventory is classified based on the objective of cost minimization, which is achieved through the inventory performance index – total relevant cost. Effectiveness of classification of the proposed model and the other classification models toward two inventory performance measures, that is, cost and inventory turnover has been computed, and the results of all models are relatively compared by arriving at the cumulative performance score of each model.

Findings

This study reveals that the ABC Inventory classification based on the proposed PSO approach is more effective toward cost and inventory turnover ratio in comparison to the twenty existing models.

Practical implications

The proposed model can be easily adapted to the industrial requirement of inventory classification by cost as objective as well as other inventory management performance measures.

Originality/value

The conceptual model is more versatile which can be adapted for various objectives and the effectiveness of classification in comparison to the other models can be measured toward each objective as well as combining all the objectives.

Details

Benchmarking: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-5771

Keywords

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Article
Publication date: 19 June 2019

Seyed Hamid Delbari, Amir Nejat, Mohammad H. Ahmadi, Ali Khaleghi and Marjan Goodarzi

This study aims to carry out numerical modeling to predict aerodynamic noise radiation from four different Savonius rotor blade profile.

Abstract

Purpose

This study aims to carry out numerical modeling to predict aerodynamic noise radiation from four different Savonius rotor blade profile.

Design/methodology/approach

Incompressible unsteady reynolds-averaged navier-stokes (URANS) approach using gamma–theta turbulence model is conducted to obtain the time accurate turbulent flow field. The Ffowcs Williams and Hawkings (FW-H) acoustic analogy formulation is used for noise predictions at optimal tip speed ratio (TSR).

Findings

The mean torque and power coefficients are compared with the experimental data and acceptable agreement is observed. The total and Mono+Dipole noise graphs are presented. A discrete tonal component at low frequencies in all graphs is attributed to the blade passing frequency at the given TSR. According to the noise prediction results, Bach type rotor has the lowest level of noise emission. The effect of TSR on the noise level from the Bach rotor is investigated. A direct relation between angular velocity and the noise emission is found.

Practical implications

The savonius rotor is a type of vertical axis wind turbines suited for mounting in the vicinity of residential areas. Also, wind turbines wherein operation are efficient sources of tonal and broadband noises and affect the inhabitable environment adversely. Therefore, the acoustic pollution assessment is essential for the installation of wind turbines in residential areas.

Originality/value

This study aims to investigate the radiated noise level of four common Savonius rotor blade profiles, namely, Bach type, Benesh type, semi-elliptic and conventional. As stated above, numbers of studies exploit the URANS method coupled with the FW-H analogy to predict the aeroacoustics behavior of wind turbines. Therefore, this approach is chosen in this research to deal with the aeroacoustics and aerodynamic calculation of the flow field around the aforementioned Savonius blade profiles. The effect of optimal TSR on the emitted noise and the contribution of thickness, loading and quadrupole sources are of interest in this study.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 30 no. 6
Type: Research Article
ISSN: 0961-5539

Keywords

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