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This study aims to investigate the Ramadan effect anomaly on the stock markets’ indices and estimate the movement of these indices in the light of the phenomenon.

Stock market indices are used as financial indicators to show the Ramadan effect. To validate this effect, eight Arab countries, which comprises Jordan, Saudi Arabia, Oman, Qatar, United Arab Emirates, Bahrain, Kuwait and Egypt, are adopted. A linear regression with R², error, F-value and p-value is considered to analyze and understand the effect of Ramadan on the aforementioned Arab countries.

Results found that Ramadan has a strong effect on estimating and predicting the performance of stock market indices in all studied Arab countries, except Kuwait. Results found that the majority of the Ramadan effect occurred after the second 10 days of Ramadan, where the direction of stock indices is opposite of Ramadan variables in all aforementioned cases.

This study is considered as an enrichment of the existing literature review with regard to the Ramadan effect. The study presents a new methodology that can be followed to improve the predictions of stock market indices by using a weight least square method with linear regression. This study presents the most affected periods of time that could decrease or increase the stock prices. Finally, the study proves the capability of the weight least square method in building a predictive model that takes the date into consideration in predicting stock market indices.

Despite extensive research on supply chain management (SCM), the literature lacks a perspective to empirically assess the importance of poverty alleviation in social business. Using resources dependence theory, the purpose of this study is to analyze to ascertain whether financial innovation has a powerful solution for business sustainability and, hence, poverty alleviation in developing countries. This study reviews the financial innovations offered by Dompet Dhuafa Republika in integrated supply chain management (ISCM) of smallholder livestock business through Tebar Hewan Kurban (Spreading Sacrificial Animals) program to overcome capital and marketing problems at the farmer level and distribute Qurban meat to the recipients.

This study was conducted using descriptive qualitative method. The data were obtained through a field survey, by interviewing two crowdfunding-based investment companies, 250 partner farmers, program managers and assistants, marketing partners, donors/consumers/person who sacrifice and Mustahik (recipients of Qurban meat) involved in program implementation, using purposive sampling method. Focus group discussion was conducted with selected panelists to validate the results of the field survey.

The results of this study showed that the Tebar Hewan Kurban program provides greater benefits to farmers, while increasing the distribution of Qurban meat to be more equitable. The role of moneylenders and middlemen can also be eliminated. Donors feel satisfied because their goals are fulfilled in the Qurban ritual. Program implementers and investors also got decent returns. ISCM is very feasible to be developed on a wider scale, to improve the welfare of farmers or fishermen.

This study used a set of samples of the assisted areas from only one institution, which may lead to institution-specific results. Although the sample is small, the results of this study are expected to provide new insights into the implementation of the Qurban, which will provide more profits and benefits for partner farmers. In broader practice, the program flow is worth considering compared to similar programs in other institutions, in Indonesia or abroad. Because of the COVID-19 pandemic situation, the field survey and focus group discussion were carried out online.

The results show that ISCM is able to increase the income of farmers. Practically, this program can be duplicated in similar institutions, as well as in government or non-government organizations, in Indonesia and abroad, that have the same context and activity.

This study offers several social contributions by exploring how and why ISCM can eliminate the role of moneylenders and middlemen, increasing the small farmers' income, providing reasonable profits to parties involved in marketing and satisfying donors and equitable distribution of Qurban meat.

This study contributes to the literature by confirming the higher impact of ISCM in social business on poverty alleviation. Therefore, this paper provides an alternative solution to increase the income of small farmers through the supply of animals for Qurban or other religious rituals through ISCM arrangements.

Food waste, a global conundrum with adverse socioeconomic and environmental implications, occurs when more money is spent on food during occasions akin to Ramadan. This study examines the moderating role of antecedents (festive experience, nostalgic food memory, perceived scarcity, and religiosity) to understand the impacts of excessive food buying on Ramadan food waste.

A cross-sectional survey was performed with a self-administered questionnaire using Google Forms to gather data on social media. Notably, 349 valid responses were analysed via Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4 for model development and hypothesis testing.

Festive experience, nostalgic memory, and perceived food scarcity could explain excessive buying behaviour. In this vein, excessive food buying contributed to Ramadan food waste. Meanwhile, religiosity was found to moderate excessive food-buying behaviour.

The empirical findings offered useful insights for practitioners and policymakers to implement optimal marketing strategies and interventions that improve responsible consumption and minimise food waste.

This study provided a sound understanding of consumer buying behaviour during Ramadan regarding food waste and overconsumption. The current work delineated the role of descriptive, injunctive norms and cognitive dissonance in shaping buying behaviour during Ramadan.

This study aims to investigate the knowledge domain and development trends that appear in the scholarly corpus on religious tourism.

The most common themes evolving in the religious tourism research field are figured out by conducting keyword and trend analyses using the bibliographic data collected from 988 research articles published in Social Science Citation-indexed journals listed in the Web of Science database between 1992 and 2022.

It has been found that the number of publications has increased exponentially. European countries are the major contributors to religious tourism research. Research has mainly clustered around the areas of spiritual experience, identity, cultural heritage, pilgrimage, tourist attitude, behavior and satisfaction. Judaism, Hinduism and Buddhism are religions that have received relatively little research attention.

Future research should focus on the sustainability of religious tourism sites, mitigating the adverse impact of the commercialization of religious tourism products and recovering religious tourism activities from the COVID-19 impact.

The findings are useful for corporate practitioners, site managers and entrepreneurs to take advantage of the valuable opportunities this segment offers. These findings are useful for scholars and policymakers in acquiring the latest knowledge of developments in this field.

The insights obtained by using a holistic approach are valuable for religious tourists who want to understand the importance of visiting religious sites.

This study identifies key themes that have evolved in religious tourism. In so doing, it presents an agenda for pushing this research corpus forward.

The aim of this research study is to examine the role of emotional solidarity on religious tourism support. Data for the present research work were attained from various groups of residents in Amasya province/Türkiye.

The Google form-based questionnaires were self-managed by the participants. In the context of the survey, 306 complete questionnaires were gathered. For the data analysis, partial least squares structural equation modeling (PLS-SEM) technique was used via SmartPLS 4.0 software in conjunction with SPSS version 23.

The analysis results show that the emotional solidarity dimensions such as welcoming nature and sympathetic understanding were found to be positively related with religious tourism support at different coefficient levels; however, emotional closeness was not statistically related.

This study adds fresh insights into the field of tourist literature and has beneficial ramifications for business development in the area of religious tourism.