Search results

The study examines determinants of price earnings (PE) multiples and their ability to forecast short term returns in the Egyptian stock market during the period from 2002 to 2007. Three factors were tested for their ability to determine the PE multiples. The three variables are growth, payout and return on equity (ROE) in the period from 2002 to 2005. Only Payout and ROE were found to be significant. The ability of past average PE multiples to explain and therefore forecast future short term returns were tested. Short term returns as measured by changes in stock prices from 2006 to 2007 were regressed against the past average PE multiples in the period from 2002 to 2005. The results indicate that the past high or low PE multiples give no insight on the direction and magnitude of future short returns. An important finding of the paper is that expectations about above average future growth can influence PE multiples more than the average past growth. This happens when the economy or some sectors of it are expected to witness far more growth than its past. It is therefore recommended for future studies that a quantitative or qualitative measure of future expectations should be included in the PE determinants formula in Egypt or countries expected to have very high or above average future growth in some of its sectors.

This paper aims to explore the factors that influence Generation Y’s positive or negative electronic word-of-mouth (eWOM) behavior via social media and mobile technology in the foodservice sector. Three types of dining experiences were examined: positive and negative customer experiences and negative customer service followed by a satisfactory recovery package.

A survey was adopted to test the factors posited to influence Generation Y consumers in these service contexts. Participants were recruited through Amazon Mechanical Turk , and multi-group structural equation modeling was performed to analyze the data.

Active use of social media and peer influence had a sweeping influence on Generation Y’s intentions to engage in eWOM about their service experiences. Technological sophistication with mobile technology influenced Generation Y to spread positive or negative service experiences, rather than satisfactory recovery experiences. Family influence had a mixed influence on Generation Y subgroups (21-24 years old vs 25-35 years old) to engage in eWOM about their satisfactory or poor service experiences. In satisfactory recovery experiences, family influence showed no significant influence on Generation Y’s eWOM behaviors.

This study enriches online reviews and eWOM marketing theories, adds to service failure and recovery literature and enhances understanding of consumer behavior expressed by Generation Y through the empirical investigation of Generation Y consumers’ behavioral motivations to engage in eWOM through social media and mobile technology.

Engaging Generation Y consumers with social media campaigns and mobile technology development is not merely sufficient in eWOM marketing strategies. Instead, it is essential to create integrative peer communities to motivate Generation Y consumers to engage in eWOM marketing. Marketers need to pay attention to the mixed effects of family influences on the eWOM behaviors of subgroups of Generation Y in positive or negative service experiences.

Given the scarcity of consumer behavior research into Generation Y as an emerging market segment, this paper makes an incremental contribution by developing and validating a model of factors that influence Generation Y consumers’ eWOM intentions through social networking and mobile technologies in three major service contexts: positive, negative and recovery following a service failure.

The purpose of this study is to confirm that work to family conflict (W to FC), family to work conflict (F to WC) and work family balance (WFB) are the predictors of job satisfaction (JS) for Malaysian academic community. To achieve the fundamental objective, the authors first test the direct (structural model) effects of W to FC and F to WC on JS. Secondly, using mediation model, the indirect effects of WFB were calculated through W to FC, F to WC and JS.

Using convenience sampling, the data was collected from 280 academic people who work at private universities in Malaysia. Structural equation modelling technique was applied to complete the data analyses procedures.

The findings revealed that W to FC and F to WC have negative significant effects on JS. Besides, WFB partially mediates only the relationship between W to FC and JS while no mediation effect was found for F to WC and JS.

All the research variables in this study were individual-level variables, thus it is suggested to use some organizational and national level variables such as religion and culture as they might be good intervening variables for predicting JS.

Using the findings of this research, the Malaysian private universities community can take some necessary initiatives to mitigate work family conflict (W-FC) and ensure WFB and JS that might enhance the standard of higher education in Malaysia.

To the best of the authors’ knowledge, this is the first attempt to test the mediation effect of WFB in the relationship between both directions of W-FC and JS of employees from the perspective of Malaysia (a collectivist community).

The objective of this chapter is twofold. It first explores the complementarities of Islamic investment with Socially Responsible Investment. Secondly, it examines the financial price, for investors, of being both shariah-compliant and socially responsible.

Using a value-weighted approach, we experiment the construction of a set of sharia-compliant stock portfolios with different Environmental, Social, and Governance (ESG) performance. We use the KLD ratings of 238 companies listed in U.S. stock market from 2007 to 2011. We measure and compare their performance using the model developed by Fama and French (1993) and extended by Carhart (1997).

The results indicate no adverse effect on returns due to the application of a double screening, Islamic and SRI, and show a substantially higher performance for positive governance screen during 2008–2011 periods. This outperformance cannot be explained by differences in investment style. Though, we observe significant outperformance for some ‘irresponsible’ portfolios involved in community and human rights controversies.

The study only focuses on U.S. market. Future works should extend the experimentation to other markets.

This study provides a venue for Islamic funds managers to consider SRI screening as fully in line with shariah-compliance requirements, while preserving the performance of their portfolios.

Potentially, the reconciliation of Islamic investment with positive SRI practices may foster the implementation of CSR policies by firms’ manager willing to attract Islamic investors.

With reference to the many studies emphasising the compatibility between CSR criteria and Islamic principles, this experimental study is the first to investigate the integration of a positive screening process designed to select companies based on their ESG performance in addition to a traditional shariah-compliant screening.

Despite the growth and adoption of human resource (HR) analytics, it remains unknown whether HR analytics can impact organizational performance. As such, this study aims to address this important issue by understanding why, how and when HR analytics leads to increased organizational performance and uncover the mechanisms through which this increased performance occurs.

Using data collected from 155 Irish organizations, structural equation modeling was performed to test the chain mediation model linking HR technology, HR analytics, evidence-based management (EBM) and organizational performance.

The study's findings support the proposed chain model, suggesting that access to HR technology enables HR analytics which facilitates EBM, which in turn enhances organizational performance.

This research contributes significantly to the HR analytics and EBM literature. First, the study extends our understanding of why and how HR analytics leads to higher organizational performance. Second, the authors identify that access to HR technology enables and is an antecedent of HR analytics. Finally, empirical evidence is offered to support EBM and its impact on organizational performance.

Based on the institutional theory, the purpose of this paper is to examine institutional factors that affect the development of accounting practices in Jordan.

The current study surveys the perceptions of 306 participants and 20 interviewees.

First, the early formation of accounting practices in Jordan has been affected by the legacy of Ottoman Empire’s and the British Colony’s accounting systems. Second, the results indicate that government of Jordan (regulatory frameworks), pressures from international donors and large economic organizations (politico-economic factors), education and training/development (cultural inputs), and the efforts to attract foreign investments and getting access into the international fund and trade (economic factors) have been influential influences in the development of accounting practices and the adoption of International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) in Jordan. Finally, the findings reveal that “Secrecy” construct (a culture input) has been a problematic in the implementation of IAS/IFRS.

The current study provides policy implications for the Jordanian policy makers and for other developing countries that are working hard to improve the quality of financial reporting of their business entities. Finally, the authors suggest some great opportunities for future research.

First, this paper contributes to Jordan’s policy developments including fundamental strategies in terms of attracting foreign investments to expand the economy and the international and regional trade. Second, it fills a gap in the international accounting research by empirically assessing how institutional factors affect the development of accounting practices in emerging country such as Jordan.

This paper aims to examine whether the Sharīʿah indices outperform the conventional indices as evident from Dhaka Stock Exchange (DSE). To achieve the objective, the study, first, assesses the risk adjusted returns of the Sharīʿah and conventional indices and compares the same between the two indices. Second, it examines the short-run and long-run associations between the two indices.

The DSEX Sharīʿah index and DSE broad index of the DSE are used as representatives of the Sharīʿah and conventional indices, respectively. The study uses monthly data for the period 2014–2018 and applies a number of techniques such as risk adjusted returns, Johansen’s cointegration test, vector error correction model, Granger causality test, forecast error variance decomposition and impulse response functions techniques.

The study reveals that albeit there is no significant difference in simple mean between the two indices, the Sharīʿah index outperforms its conventional counterpart based on the risk adjusted returns. The two indices are associated only in the long-run, while no causal relationship is spotted between them. The overall results show that the Sharīʿah index has dominance over the conventional index in Bangladesh.

The study could use more pairs of indices, including additional variables such as financial crisis and macroeconomic variables.

The study has important implications to investors, especially the religious Muslims and ethical ones, who are suggested to invest their funds in the Sharīʿah index without sacrificing returns, rather be monetarily more benefited. Moreover, the other investors can generate diversification benefits by adding both Sharīʿah and conventional indices in their portfolios in the short-run.

Unlike previous studies, this study endeavors to use a comprehensive methodology to conduct its analysis. Moreover, this is supposedly the first ever effort to conduct such a study in the context of Bangladesh.

This study developed a model for the mediation role of satisfaction on Jaiz bank products and services as an alternative way of improving customer’s subjective experiences of banking in Nigeria.

This paper adopted structural equation modelling’s confirmatory factory analysis with three-factor theory. Composite reliability, average variance extracted and discriminant validity were used to test the validity and reliability of data collected from a sample of 345 participants comprising senior, middle and lower-income earners. Also, descriptive statistics and independent analysis of variance were used for the analyses.

This paper provides insights into how Jaiz bank products and services will significantly improved the social lifestyle of Nigeria. Findings also indicates how context-specific Islamic bank products and services are embedded in the social ordering of communities in Nigeria and thus facilitate a more satisfactory and productive experience of customers.

Findings from the study provide insight and inform managers in making an informed decision on the products and services offered to a section of the popular, where strategic and analytical insights could strengthen different segments of the banking system in Nigeria. This study emphasises the significance of Islamic banking within the specific context of Nigeria, and also has an obvious theory and management implications.

It is hard to find a research paper discussing the mediation role of customer’s satisfaction on Jaiz bank products and services in improving the social lifestyle of Nigerians. This study provides a model that can be adopted in analysing products and services of Islamic banks based on customer’s satisfaction.

The purpose of this paper is to investigate the nature and the extent of moderation effect of the regulatory regime and competition, on the innovativeness-performance relationship among financial services firms. Based on the absorptive capacity theory, this study argues that firms must gather adequate knowledge from the external environment (specifically on regulatory systems and competitive landscape) to assist in developing competitive innovation strategies, and to realize the needed performance benefits from such strategies.

Data were collected from the Ghana’s financial services sector with a focus on banking and insurance institutions. Structural equation modeling and regression models were specified to test both the direct effects of variables of interest, and the moderation effects of environmental factors on the independent and dependent variables.

The results of the study show that both process and product innovativeness enhance financial services firms’ performance. While competition was found to stifle innovativeness, regulatory regime was found to promote innovativeness in financial services. Regulatory regime was also found to positively moderate the relationship between process innovativeness and performance, while competition was found to positively moderate the relationship between product innovativeness and performance.

The firms sampled are from an emerging economy with a growing financial services sector, and as a result, the findings may not apply to contexts with different economic characteristics.

This study asserts that in enhancing innovativeness in the financial services markets, firms must recognize the value of new external information on regulatory regime and competition as key environmental factors. Financial service firms must assimilate, transform, and apply such new knowledge in their innovation efforts in order to improve performance. For firms to fully benefit from their innovation, process innovativeness must be aligned with regulatory systems while product innovation yields best returns in competitive periods.