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The financial policies of the modern world corporations and their investment decisions are generally considered as interrelated because the agency problems, associated with the debt level and its maturity structure, give rise to incentives for overinvestment or underinvestment. The present study empirically investigates the linkage between debt maturity structure and firm investment in a financially constrained environment, using Pakistan as a case study, to determine how the institutional environment in which firms operate affect these decisions and their linkage.

The empirical analysis is carried in a panel data setting using panel regression models as the baseline methods. Moreover, generalized methods of moments (GMM) estimators are used, coupled with the instrumental variables approach, for robustness and improving the efficiency and consistency of estimates.

Results suggest that firms rely more on short financing in Pakistan. Thus, given the capital structure which is characterized by higher proportion of short-term financing, the higher level of leverage is less likely to cause underinvestment problem. However, the underinvestment problem do persists in the firms that have higher portion of long-term debt. These findings imply that the debt-overhang problem may persist even in the financially constrained environments where attractive investment opportunities are limited, and long-term financing is difficult to acquire.

This study contributes to the literature by revealing how corporate investment and financing decisions and their linkage is influenced by the institutional environment of the less developed countries which is characterized by underdeveloped financial markets, inefficient legal system and weak investor protection system.

The effect of gamma radiation on the dyeing of cotton with Reactive Blue 13 dye powder has been investigated. The cotton and dye powder are irradiated to absorb doses of 100, 200, 300, 400 and 500 Gy by using a Co-60 gamma irradiator. Dyeing is performed by using irradiated and un-irradiated cotton with irradiated and un-irradiated dye powder, in order to observe the effect of radiation treatment on the colour strength of the reactive dye on cotton. Different dyeing parameters such as temperature, time and p H are optimized using irradiated cotton and dye powder. The effect of gamma irradiation on the colour strength and Lab values has been observed through optimized conditions of dyeing. The colour strength and Lab values are obtained by spectra flash spectrophotometer (SF650). ISO standard methods are employed to study the effect of gamma radiation on the Colourfastness properties of fabric. It can be demonstrated that gamma irradiation not only improves the colour strength of the dye in irradiated cotton, but also enhances the Colourfastness properties.

Pomegranate (Punica granatum), which contains tannins as the main colouring component in the rind that imparts a yellowish brown colour on cotton fabric, has been selected and extracted through the use of water, methanol and ethanol. For the extraction of dye, irradiated and non-irradiated rind powders are used. The dyeing parameters, such as temperature, pH, time and material to liquid ratio (M:L) has been studied by the CIE Lab system for the optimization of dyeing conditions. Dyeing, irradiated and non-irradiated cotton fabrics have been used in order to see the effect of UV radiation on the colour strength of dye. Fastness properties, such as colour fastness to light, washing and rubbing (dry and wet), have been studied in accordance to ISO standard methods. It is found that irradiated cotton fabric not only improves the colour strength of dye, but also the colour fastness properties of irradiated cotton fabric.

The purpose of this study is to analyze the entropy generation in magnetohydrodynamics stagnation point mixed convection flow of Carreau nanofluid through porous medium.

The system is solved using the homotopy scheme.

Minimizing radiation, magnetic, permeability and temperature difference parameters responds to minimizing entropy production.

To the best of the authors’ knowledge, no such analysis has yet been reported.

The aim of the present paper is to investigate the homogeneous and heterogeneous reactions on Prandtl fluid flow at a stretching sheet with an induced magnetic field and slip boundary conditions.

The governing equations include the continuity, induced magnetic field, momentum, energy and homogeneous–heterogeneous equations. Initially, with suitable similarity variables, the governing partial differential equations and converted into a system of ordinary differential equations. Then, the nonlinear ordinary differential equations are solved by a shooting technique with the help of the BVC5C Matlab package.

The results of the present investigation are presented through graphs for different values of the various parameters. The authors observed that the large values of the stretching ratio and the induced magnetic parameters are moderate magnetic field, velocity and temperature primarily. Also, the authors found the more velocity and temperatures by boosting the slip parameters.

In addition, the values of the skin friction and the rate of heat transfer for various values of physical parameters are tabulated and deliberated in detail.

This research focuses on the controlling irreversibilities in a radiative, chemically reactive electromagnetohydrodynamics (EMHD) flow of a nanofluid toward a stagnation point. Key considerations include the presence of Ohmic dissipation, linear thermal radiation, second-order chemical reaction with the multiple slips. With these factors, this study aims to provide insights for practical applications where thermal management and energy efficiency are paramount.

Lie group transformation is used to revert the leading partial differential equations into nonlinear ODE form. Hence, the solutions are attained analytically through differential transformation method-Padé and numerically using the Runge–Kutta–Fehlberg method with shooting procedure, to ensure the precise and reliable determination of the solution. This dual approach highlights the robustness and versatility of the methods.

The system’s entropy generation is enhanced by incrementing the magnetic field parameter (M), while the electric field (E) and velocity slip parameters (ξ) control its growth. Mass transportation irreversibility and the Bejan number (Be) are significantly increased by the chemical reaction rate (C_r). In addition, there is a boost in the rate of heat transportation by 3.66% while 0.05⩽ξ⩽0.2; meanwhile for 0.2⩽ξ⩽1.1, the rate of mass transportation gets enhanced by 12.87%.

This paper presents a novel approach to analyzing the entropy optimization in a radiative, chemically reactive EMHD nanofluid flow near a stagnation point. Moreover, this research represents a significant advancement in the application of analytical techniques, complemented by numerical approaches to study boundary layer equations.

The purpose of this study is to develop and assess the effects of unified theory of acceptance and use of technology (UTAUT 2) constructs – effort expectancy (EE), social influence (SI) and hedonic motivation (HM) – on behavioural intention (BI), as well as the impact of innovation resistance theory (IRT) constructs – usage barrier (UB) and tradition barrier (TB) – on innovation resistance (IR) behavior in the context of digital zakat payment in Aceh. In addition, this study also examines how knowledge of fiqh zakat influences both BI and IR.

This was a quantitative study including 350 Acehnese persons who paid zakat online. This research used a Likert scale, and the sampling technique was purposive sampling applied for the Acehnese people. The research respondents were civil servants, private employees, BUMN employees (employees of State-Owned Enterprises), merchants, restaurant owners, professionals and other occupations who had paid professional zakat through a digital system mechanism. The data were analysed using partial least squares structural equation modelling.

This research found that the constructs built through the theory of UTAUT 2 explained the position of the EE variable, which had a significant effect on BI. On the other hand, the variable of SI and HM did not significantly affect BI in digital zakat payment. This finding demonstrated that BI significantly influenced actual usage (AU). UB and TB had no impact on IR, according to the theoretical framework developed by IRT. Yet, the knowledge about the fiqh zakat (KFZ) significantly affected the AU. In terms of the moderation role, the KFZ variable moderated the relationship between BI and AU. However, the KFZ variable did not moderate the relationship between IR and AU.

This research had limitations and could still be investigated further by involving a larger sample. This study does not include all UTAUT 2 and IRT constructs, but only involves UTAUT 2 and IRT constructs based on the phenomenon of digital zakat paying behavior in the people of Aceh.

This research had a managerial contribution and an evaluation of the use of digital zakat collection services in Aceh and zakat management institutions in various countries. The existence of significant EE should be a reference for zakat institutions to produce continuous payment applications with a higher level of convenience in the future. In addition, the government should encourage more organised fiqh zakat education in society to plan a more optimal zakat collection. The reason for this is that KFZ has been shown to moderate zakat intentions towards actual digital zakat payment behaviour.

The results of this study were then accommodated by the government to design a digital zakat collection system so that it resulted in optimising the collected zakat funds. The greater the zakat funds collected, the greater the economic impact and social resilience of the community was in the midst of the post-covid and global crisis.

This research provided an essential value in the aspect of collecting zakat funds, especially in the study of the behaviour of paying zakat digitally. The theory of planned behaviour predominated in earlier studies that investigated zakat-paying behaviour. Yet, this research was even more focused as it used the constructs of UTAUT 2 and IRT theory and applied the involvement of a moderator variable like fiqh zakat knowledge that was barely discussed.

This paper aims to explore the director’s work ethics with particular attention given to the Islamic perspectives and prophetic character toward sustaining the performance of the business organizations. As at now, there is a limited code of ethics that can be a guidance for the business organizations and its leaders specifically.

This paper examines and reviews the foundation and prior studies on directors’ work ethics and Islamic work ethics. Then, briefly discuss and present a conceptual review of the directors’ work ethics based on prophetic characters, as well as its application in modern business activities.

Based on Quran and Hadith, this paper proposes that four fundamental moral characters of directors are siddiq (truthfulness), fatanah (intelligent), tabligh (deliver) and amanah (trust).

This paper is conceptual in nature, thus further research needed to empirically test all the characters in actual practices.

The outcome of this paper contributes in way of it can be used and applied by the firm and policymakers to construct a comprehensive code of ethics that based on the Islamic values.

This paper is original as it attempts to suggest the appropriate constructs of directors’ work ethics from the religious studies in the ethics and management literature. These constructs able to increase the integrity and moral behaviors of the directors, which eventually preventing them from a commit in various unethical and malpractices that may obstruct the progress of the country’s economic development and growth.

The purpose of this paper is to address entropy generation in flow of thixotropic nonlinear radiative nanoliquid over a variable stretching surface with impacts of inclined magnetic field, Joule heating, viscous dissipation, heat source/sink and chemical reaction. Characteristics of nanofluid are described by Brownian motion and thermophoresis effect. At surface of the sheet zero mass flux and convective boundary condition are considered.

Considered flow problem is mathematically modeled and the governing system of partial differential equations is transformed into ordinary ones by using suitable transformation. The transformed ordinary differential equations system is figure out by homotopy algorithm. Outcomes of pertinent flow variables on entropy generation, skin friction, concentration, temperature, velocity, Bejan, Sherwood and Nusselts numbers are examined in graphs. Major outcomes are concluded in final section.

Velocity profile increased versus higher estimation of material and wall thickness parameter while it decays through larger Hartmann number. Furthermore, skin friction coefficient upsurges subject to higher values of Hartmann number and magnitude of skin friction coefficient decays via materials parameters. Thermal field is an increasing function of Hartmann number, radiation parameter, thermophoresis parameter and Eckert number.

The authors have discussed entropy generation in flow of thixotropic nanofluid over a variable thicked surface. No such consideration is yet published in the literature.

This paper aims to address double-stratified stagnation-point flow of Williamson nanomaterial with entropy generation. Flow through porous medium is discussed. Energy equation is modeled in existence of viscous dissipation, Brownian motion and thermophoresis. Furthermore, convective boundary conditions are considered. Total entropy rate is presented.

The non-linear flow expressions are converted to ordinary ones by implementation of suitable transformations. The obtained ordinary system is tackled for series solutions via homotopy analysis method.

Till date no one has considered the irreversibility analysis in stagnation-point flow of Williamson nanomaterial with double stratification, porous medium and convective conditions. The basic objective of present research is to investigate the convective stagnation point flow of Williamson liquid with entropy concept and porous medium.

As per the authors’ knowledge, no such work is yet present in the literature.