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Article
Publication date: 2 October 2017

Khurshed Alam

The purpose of this paper is to identify the factors which are instrumental to poverty reduction opposed to many factors that are considered as impediments to poverty…

Abstract

Purpose

The purpose of this paper is to identify the factors which are instrumental to poverty reduction opposed to many factors that are considered as impediments to poverty reduction in a poor country like Bangladesh.

Design/methodology/approach

This paper is an outcome of review of literature covered wide range of issues including sectoral contribution to economic growth but none has exclusively dealt with the instrumental role of the poverty reduction factors, insider’s view, long-term observations (1960-2014), and reviews of secondary data.

Findings

In order to reduce poverty, rather than attempting to change the “culture of poverty,” remove the “structural trap,” or “kin system as poverty trap” it can be achieved through harnessing the enabling factors of poverty reduction. Study argues that rather than focusing on “barriers” to poverty reduction, a country needs to identify and focus on its “potential” factors of poverty reduction. The dominant enabling factors for Bangladesh were agricultural development and remittance. The utilization of land and labor could bring a transformation in the rural economy of Bangladesh which was essential to poverty reduction.

Practical implications

The study shows that the individuals can escape poverty largely through their own effort where a proper policy support from the government is needed. The state needs to play the facilitating role rather than the instrumental in the case of poverty reduction.

Originality/value

The paper reveals instruments to poverty reduction where usual practice was to identify the barrier to development and to suggest the means of overcoming those barriers. It suggests how to look into the matter from other way round where instead of identifying the barrier attempt should be made to identify the enabling factors and to harness those enabling factors. The findings are based on the country-specific literatures but not generalized in the form as attempted here. The study shows a means of poverty reduction where country-specific strategy or home-grown model can be drawn out based on the identification of potential factors.

Details

World Journal of Science, Technology and Sustainable Development, vol. 14 no. 4
Type: Research Article
ISSN: 2042-5945

Keywords

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Article
Publication date: 7 August 2018

Md. Shahidul Islam and Khurshed Alam

Social capital accrues to numerous positive socioeconomic outcomes, especially poverty reduction in developing countries. The purpose of this paper is to examine the…

Abstract

Purpose

Social capital accrues to numerous positive socioeconomic outcomes, especially poverty reduction in developing countries. The purpose of this paper is to examine the relationship between social capital and poverty reduction with special reference to Bangladesh.

Design/methodology/approach

A cross-sectional study was conducted in a rural setting of north-eastern Bangladesh, where primary data were collected from 310 households. Exploratory factor analysis was pursued to extract multiple dimensions of social capital. Afterward, multivariate binary logistic regression model was applied to measure the association between social capital dimensions and poverty. In this model, odds ratios were used to present the regression coefficients.

Findings

The study confirms that social network, norms of reciprocity, social trust and civic participation were associated with poverty. The logistic regression reveals that social trust, social networks, norms of reciprocity and civic participation are negatively associated with poverty by OR=0.488, 95% CI=0.377–0.633; OR=0.709, 95% CI=0.542–0.927; OR=0.619, 95% CI=0.473–0.812; and OR=0.783, 95% CI=0.598–1.025 units.

Originality/value

This study has a significant policy implication related to reducing entrenched poverty in Bangladesh as social capital has a potential to bring about a concomitant improvement in the condition of the poor.

Details

International Journal of Social Economics, vol. 45 no. 11
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 March 1985

Roger Mansfield and Khurshed Alam

Until recently empirical research in organisational behaviour and personnel management had tended to be based, to a very large extent, on work situations in the United…

Abstract

Until recently empirical research in organisational behaviour and personnel management had tended to be based, to a very large extent, on work situations in the United States and Britain. However, in recent years there has been a noticeable increase in studies reported in the literature carried out in other parts of the world. There has also been a quickening of interest in cross‐national comparisons of management and organisation. These trends have without doubt occurred partly as a response to the growing internationalisation of business and management. They have also stemmed partly from a desire to examine Anglo‐American management practice in a sharper relief, by adopting a wider, less culture‐bound, perspective.

Details

Personnel Review, vol. 14 no. 3
Type: Research Article
ISSN: 0048-3486

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Abstract

Details

A History of the World Tourism Organization
Type: Book
ISBN: 978-1-78769-797-3

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Article
Publication date: 15 August 2019

Ahmad Hakimi Tajuddin, Rasidah Mohd Rashid, Karren Lee-Hwei Khaw and Norliza Che Yahya

The purpose of this paper is to investigate the effects of Shariah-compliant status and the presence of information asymmetry on investors’ demand for initial public…

Abstract

Purpose

The purpose of this paper is to investigate the effects of Shariah-compliant status and the presence of information asymmetry on investors’ demand for initial public offerings (IPOs) in Malaysia.

Design/methodology/approach

The data regarding 260 IPOs dated for a duration of 11 years were acquired from the websites of Bursa Malaysia and Malaysian Issuing House. In evaluating the association between IPO oversubscription and the independent variables in this study, multivariate and quantile regression analyses were implemented.

Findings

It was found that Shariah-compliant status (DSHARIAH) had a significant positive relationship with IPO oversubscription. With this, it was indicated that Shariah-compliant status gains investors’ interests in subscribing to IPOs as these shares could be distributed to a wider group of investors. In the case of the proxies of information asymmetry, although firm size posed significant effects on IPO oversubscription, the effects were negative. Meanwhile, institutional investors posed significant positive effects on IPO oversubscription. Furthermore, it was indicated from the negative effects of firm size that less subscription is received by large firms which are perceived to possess lower information asymmetry from the investors. This is owing to the less underpricing provided by the issuers for their IPOs. However, it was indicated from the significant positive association between institutional investors and IPO oversubscription that the participation in the IPO among institutional investors would enhance the enthusiasm of investors for a specific stock and increase the probability of IPO oversubscription. With this, the winner’s curse hypothesis was supported.

Research limitations/implications

It is recommended that future studies investigate the compliance aspect, specifically the financial and nonfinancial aspects which may affect investors’ decision-making process for their investment.

Practical implications

With the availability of this study’s indicators in the prospectus, the findings of this study have provided useful insights for an issuer and underwriter to ensure a good subscription of its issuance.

Social implications

The findings of this study have provided further comprehension to investors regarding the essential information found in the prospectus during the decision-making process done for IPO subscription.

Originality/value

To the best of the authors’ knowledge, this is one of the first articles which have proven the effects of Shariah-compliant status and the presence of information asymmetry on IPO investors’ demand.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 12 no. 4
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 29 April 2021

Waqas Mehmood, Rasidah Mohd-Rashid, Abd Halim Ahmad and Ahmad Hakimi Tajuddin

The present study investigated the influence of country-level institutional quality on IPO initial return using World Bank Governance indices.

Abstract

Purpose

The present study investigated the influence of country-level institutional quality on IPO initial return using World Bank Governance indices.

Design/methodology/approach

This study analysed 84 IPOs listed on Pakistan Stock Exchange between 2000 and 2017 using cross-sectional data. The impact of country-level institutional quality on IPO initial returns was examined using ordinary least square, robust least square, stepwise least square and quantile regression.

Findings

Empirically, the values of political stability, government effectiveness and regulatory quality were positively significant, whereas rule of law and control of corruption were negatively significant in explaining the intensity of IPO initial return. The results also show the presence of significant risk in the market. Hence, investors were compensated with higher initial returns for weak country-level institutional quality. The results also reveal that improving country-level institutional quality would improve the financial market transparency, thereby reducing IPO initial returns.

Originality/value

No studies have been conducted regarding the influence of country-level institutional quality on IPO initial return in Pakistan. This study is a pioneering study that seeks to give insights into the link between these variables in the context of Pakistan.

Details

South Asian Journal of Business Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2398-628X

Keywords

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