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Article
Publication date: 8 March 2024

Said Elfakhani

This study aims to test mutual fund superiority, comparing the performance of 646 Islamic mutual funds with 475 ethical funds and conventional proxies.

Abstract

Purpose

This study aims to test mutual fund superiority, comparing the performance of 646 Islamic mutual funds with 475 ethical funds and conventional proxies.

Design/methodology/approach

This study uses statistical methods including paired t-statistics of independent samples, one-way Bonferroni test–analysis of variance–F-statistic for testing means equality, the chi-squared test for median equality and regression models corrected for heteroscedasticity. These methods are used to identify superiority of mutual funds and to validate the significance of the results.

Findings

The findings confirm the superiority of conventional funds over ethical funds and ethical funds over Islamic funds. Both ethical and Islamic funds, however, outperform conventional proxies during some recessionary periods. Moreover, stronger performance is recorded for Islamic funds in Europe and North America regions and across age and asset allocation categories, but limited support for reversal fund size, composition focus and reversed price effect.

Research limitations/implications

These findings should assist investors when deciding to invest and motivate Islamic and ethical funds to improve their portfolio formation and asset allocation strategies set by their professional managers.

Originality/value

The originality of this study is in its comprehensive approach in that it compares the performance of funds after accounting for such characteristics as fund objectives, size, age, asset allocation, geographical investment focus, fund composition focus, share price levels and the effect of global crises. This study approach is not only original and productive in documenting Islamic funds’ performance for the past three decades (1990–2022) but can also update the literature on these characteristics collectively and individually.

Details

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

Keywords

Article
Publication date: 24 May 2023

Shalini Srivastava, Muskan Khan, Arpana Kumari and Ajay Kumar Jain

Based on the stimulus-organism-response (SOR) model and Transactional Model of Stress and Coping, the current study aims to investigate the direct effects of workplace bullying…

Abstract

Purpose

Based on the stimulus-organism-response (SOR) model and Transactional Model of Stress and Coping, the current study aims to investigate the direct effects of workplace bullying (WPB) on internal whistleblowing (IW) and workplace withdrawal (WW), as well as the indirect effects, including the mediating role of moral injury (MI) and moderating role of inclusive leadership (IL) in the hospitality sector.

Design/methodology/approach

Three-waves approach was used to collect data from 266 hotel employees in India. AMOS 21 and Macro-PROCESS were used to analyse the hypothesised relationships.

Findings

WPB has a direct effect on IW and workplace withdrawal. MI mediated the relationship between WPB and IW and WPB and WW. Further, IL moderated the relationship between WPB and MI.

Practical implications

The results of the current study have significant policy-related, academic and practical implications. Executives must be aware of WPB incidents and take prompt action to completely stop them.

Originality/value

The study contributes to the literature by analysing the role of MI as a mediator for the relationship between WPB and WPB's coping strategies like IW and workplace withdrawal. This study also answers repeated calls for more research on MI and MI's consequences.

Details

Journal of Organizational Effectiveness: People and Performance, vol. 11 no. 1
Type: Research Article
ISSN: 2051-6614

Keywords

Article
Publication date: 1 August 2023

Syed Ali Raza, Komal Akram Khan and Faiza Hakim

The study aims to inspect the impact of employees’ perception of corporate social responsibility (CSR) and their spiritual values on their affective commitment and job…

Abstract

Purpose

The study aims to inspect the impact of employees’ perception of corporate social responsibility (CSR) and their spiritual values on their affective commitment and job satisfaction, which in turn may promote organizational citizenship behavior. Furthermore, this study examines the moderating effect of Islamic work ethics to identify whether they strengthen or weaken the proposed associations.

Design/methodology/approach

A survey instrument was devised to collect data from employees. The statistical analysis of the data was conducted using the Smart PLS software. Additionally, the research uses the “Partial Least Square-Structural Equation Modelling (PLS-SEM)” technique.

Findings

The findings of the study suggest that employees’ perception of CSR exhibits a positive association with affective commitment and job satisfaction. Likewise, employees’ spiritual values demonstrate a positive and significant correlation with affective commitment and job satisfaction. Finally, the outcomes reveal that affective commitment and job satisfaction play a major role in fostering organizational citizenship behavior. Moreover, Islamic work ethics positively and significantly moderate the relationship between employee CSR perception and affective commitment and between employee CSR perception and job satisfaction.

Originality/value

This research study endeavors to fill the gaps in the current literature by investigating two crucial aspects of employees: their perception of CSR and spiritual values. Additionally, the study includes Islamic work ethics as a moderator to provide a more comprehensive understanding of how these factors contribute to fostering organizational citizenship behavior. This work highlights the significance of spiritual values and social responsibilities in employees’ lives and how Islamic work ethics shape their behavior accordingly.

Article
Publication date: 19 February 2024

Muhammad Sohail and Syed Tehseen Abbas

This study aims to analyze the Prandtl fluid flow in the presence of better mass diffusion and heat conduction models. By taking into account a linearly bidirectional stretchable…

Abstract

Purpose

This study aims to analyze the Prandtl fluid flow in the presence of better mass diffusion and heat conduction models. By taking into account a linearly bidirectional stretchable sheet, flow is produced. Heat generation effect, thermal radiation, variable thermal conductivity, variable diffusion coefficient and Cattaneo–Christov double diffusion models are used to evaluate thermal and concentration diffusions.

Design/methodology/approach

The governing partial differential equations (PDEs) have been made simpler using a boundary layer method. Strong nonlinear ordinary differential equations (ODEs) relate to appropriate non-dimensional similarity variables. The optimal homotopy analysis technique is used to develop solution.

Findings

Graphs analyze the impact of many relevant factors on temperature and concentration. The physical parameters, such as mass and heat transfer rates at the wall and surface drag coefficients, are also displayed and explained.

Originality/value

The reported work discusses the contribution of generalized flux models to note their impact on heat and mass transport.

Details

Multidiscipline Modeling in Materials and Structures, vol. 20 no. 2
Type: Research Article
ISSN: 1573-6105

Keywords

Article
Publication date: 24 August 2023

Mohammad Rasmi Al-Umari and Mutasim Ahmad Alqudah

The purpose of this paper is to determine whether there is any fundamental difference in the meaning of contract in these two legal systems by analysing some of the essential…

Abstract

Purpose

The purpose of this paper is to determine whether there is any fundamental difference in the meaning of contract in these two legal systems by analysing some of the essential principles of contract particularly parties’ agreement and consideration.

Design/methodology/approach

This paper seeks to investigate the degree of equivalency of the term contract and its Islamic law counterpart “Aqd”. To implement this task, it applies some comparative law techniques to examine certain contractual elements under common law and Islamic law.

Findings

The argument that “contract” and “Aqd” are not equivalent is superficial, and it is not well-supported by concrete evidence. The examples used to build this argument are merely limited exceptions to the general principles of contract, and some of them even exist under both legal systems in a similar manner such as “deed” and “Hibah”.

Practical implications

The paper is of interest to legal practitioners and professionals working in cross-cultural or international contexts, as understanding points of conformity and disconformity between “contract” and “Aqd” can help in multiple ways. These may include negotiating international transactions, contract drafting and dispute-resolution processes involving parties from Western and Islamic law-based jurisdictions. It may also aid policymaking and lawmaking processes aiming to harmonize contract principles across different jurisdictions.

Social implications

The research paper is important for public attitude, as understanding similarities and differences between “contract” and “Aqd” fosters mutual respect, tolerance and cooperation between individuals and communities adhering to different legal systems.

Originality/value

There is a common belief that the term “contract” substantially differs from “Aqd”, and it is by no means safe to presume that every “Aqd” qualifies as a contract. The current research introduces a new point view on the degree of conceptual equivalency of the two terms by showing resemblances in aspects relating to some contractual elements which have always been viewed as an area of divergence rather than convergence.

Details

International Journal of Law and Management, vol. 66 no. 1
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 31 May 2023

Toan Khanh Tran Pham

The studies that explore the impacts of national intellectual capital on informal economy are scant. Moreover, the effect of an external factor such as institutional quality that…

Abstract

Purpose

The studies that explore the impacts of national intellectual capital on informal economy are scant. Moreover, the effect of an external factor such as institutional quality that moderates this relationship has largely been neglected in previous studies. Institutions are considered important pillars to accumulate national intellectual capital and reduce shadow economy. As such, this paper aims to investigate how institutional quality moderates the effects of national intellectual capital on informal economy in 17 Asian countries from 2000 to 2018.

Design/methodology/approach

This paper uses the generalized method of moments techniques, which allow cross-sectional dependence and slope homogeneity in panel data, to examine the moderating role of institutional quality on the relationship between national intellectual capital and informal economy. Various tests are conducted to ensure the robustness of the findings.

Findings

Empirical findings from this paper indicate that an increase in national intellectual capital and institutional quality declines the informal economy. Interestingly, better institutional quality aggravates the negative effects of national intellectual capital on reducing the size of informal economy. The author also finds that enhancing international trade and economic growth results in a decrease in the informal economy in Asian countries.

Practical implications

Empirical findings offer policymakers an indication of the relationships between national intellectual capital, institutional quality and informal economy, pointing out that national intellectual capital and institutional quality should be strengthened to allow Asian countries to limit the informal economy.

Originality/value

This study provides a conceptual model through which the moderating role of institutional quality on the national intellectual capital–informal economy nexus can be recognized. This approach has thus far not been investigated in the existing literature. To the best of the author’s knowledge, this study makes an original contribution to the empirical of national intellectual capital and informal economy nexus and produces new insights into the fields of the moderating effects of institutional quality on this nexus.

Details

Competitiveness Review: An International Business Journal , vol. 34 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 6 February 2024

Muhammad Zahid, Mutahar Hayat, Haseeb Ur Rahman and Wajahat Ali

This study aims to examine the role of Pakistan’s banking industry in the transition toward a circular economy (CE) and the implementation of sustainable development goals (SDGs).

Abstract

Purpose

This study aims to examine the role of Pakistan’s banking industry in the transition toward a circular economy (CE) and the implementation of sustainable development goals (SDGs).

Design/methodology/approach

This study uses a qualitative content analysis technique on 75 annual reports of 25 Pakistani banks. Data has been collected from websites and annual reports of concerned banks incorporating CE practices and SDGs in their annual reports. In addition, the data collected from the annual reports of concern sample is based on three dimensions of sustainable development (environmental, social and governance) along with the leading practices of CE to reduce, reuse, recycle, redesign, restructure, and recover.

Findings

The findings show that most firms have reported CE and SDGs. Also, the study explores the level and linkage of CE and SDGs practices among the sample firms.

Research limitations/implications

This study provides important insights for the regulators, policymakers, State Bank of Pakistan, commercial banks and stakeholders in Pakistan’s banking industry. It adds significant value to the CE and SDGs, especially in developing economies like Pakistan.

Originality/value

The study has explored and examined the ever-investigated dimensions of SDGs and CE in the banking industry of Pakistan.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 15 March 2024

Adriaan De Man

The purpose of this study is to address the relevance of archaeological heritage in the context of supply chains for the tourism industry. It does so by providing converging…

Abstract

Purpose

The purpose of this study is to address the relevance of archaeological heritage in the context of supply chains for the tourism industry. It does so by providing converging ideas on the usefulness of individual sites, not in their strict scientific or latent value but as an enhancer for optimizing cultural production in a wider scenario of aggregate demand.

Design/methodology/approach

While examples from the United Arab Emirates (UAE) illustrate this reasoning, the underlying principles have a widespread application and point to a need for defragmenting and realigning tangible heritage as a key production factor. Methods used consist of an inductive approach, based on secondary sources and semi-structured interviews.

Findings

Results indicate that, while archaeological resources remain central to the promotion of cultural tourism in the UAE, suppliers face challenges when incorporating particular sites into consumer-friendly packages.

Practical implications

The study contributes to the identification of common risks and opportunities for archaeological resource management in the development of UAE tourism products.

Originality/value

This represents an original angle, given the focus on the specific regional, cooperative added value of archaeological resources and the need for optimizing them in a functional supply chain.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 31 July 2023

Safia Akram, Maria Athar, Khalid Saeed, Mir Yasir Umair and Taseer Muhammad

The purpose of this study, thermal radiation and viscous dissipation impacts on double diffusive convection on peristaltic transport of Williamson nanofluid due to induced…

Abstract

Purpose

The purpose of this study, thermal radiation and viscous dissipation impacts on double diffusive convection on peristaltic transport of Williamson nanofluid due to induced magnetic field in a tapered channel is examined. The study of propulsion system is on the rise in aerospace research. In spacecraft technology, the propulsion system uses high-temperature heat transmission governed through thermal radiation process. This study will help in assessment of chyme movement in the gastrointestinal tract and also in regulating the intensity of magnetic field of the blood flow during surgery.

Design/methodology/approach

The brief mathematical modelling, along with induced magnetic field, of Williamson nanofluid is given. The governing equations are reduced to dimensionless form by using appropriate transformations. Numerical technique is manipulated to solve the highly nonlinear differential equations. The roll of different variables is graphically analyzed in terms of concentration, temperature, volume fraction of nanoparticles, axial-induced magnetic field, magnetic force function, stream functions, pressure rise and pressure gradient.

Findings

The key finding from the analysis above can be summed up as follows: the temperature profile decreases and concentration profile increases due to the rising impact of thermal radiation. Brownian motion parameter has a reducing influence on nanoparticle concentration due to massive transfer of nanoparticles from a hot zone to a cool region, which causes a decrease in concentration profile· The pressure rise enhances due to rising values of thermophoresis and thermal Grashof number in retrograde pumping, free pumping and copumping region.

Originality/value

To the best of the authors’ knowledge, a study that integrates double-diffusion convection with thermal radiation, viscous dissipation and induced magnetic field on peristaltic flow of Williamson nanofluid with a channel that is asymmetric has not been carried out so far.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 2
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 22 March 2024

Mohammad Dehghan Afifi, Bahram Jalili, Amirmohammad Mirzaei, Payam Jalili and Davood Ganji

This study aims to analyze the two-dimensional ferrofluid flow in porous media. The effects of changes in parameters such as permeability parameter, buoyancy parameter, Reynolds…

Abstract

Purpose

This study aims to analyze the two-dimensional ferrofluid flow in porous media. The effects of changes in parameters such as permeability parameter, buoyancy parameter, Reynolds and Prandtl numbers, radiation parameter, velocity slip parameter, energy dissipation parameter and viscosity parameter on the velocity and temperature profile are displayed numerically and graphically.

Design/methodology/approach

By using simplification, nonlinear differential equations are converted into ordinary nonlinear equations. Modeling is done in the Cartesian coordinate system. The finite element method (FEM) and the Akbari-Ganji method (AGM) are used to solve the present problem. The finite element model determines each parameter’s effect on the fluid’s velocity and temperature.

Findings

The results show that if the viscosity parameter increases, the temperature of the fluid increases, but the velocity of the fluid decreases. As can be seen in the figures, by increasing the permeability parameter, a reduction in velocity and an enhancement in fluid temperature are observed. When the Reynolds number increases, an increase in fluid velocity and temperature is observed. If the speed slip parameter increases, the speed decreases, and as the energy dissipation parameter increases, the temperature also increases.

Originality/value

When considering factors like thermal conductivity and variable viscosity in this context, they can significantly impact velocity slippage conditions. The primary objective of the present study is to assess the influence of thermal conductivity parameters and variable viscosity within a porous medium on ferrofluid behavior. This particular flow configuration is chosen due to the essential role of ferrofluids and their extensive use in engineering, industry and medicine.

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