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1 – 7 of 7Muiz Abu Alia, Islam Abdeljawad, Mamunur Rashid and Renad Anwar Frehat
This study aims to explore the use, effectiveness, motives and obstacles of analytical procedures (APs) used by auditors in Palestine, a context characterised by a pool of small…
Abstract
Purpose
This study aims to explore the use, effectiveness, motives and obstacles of analytical procedures (APs) used by auditors in Palestine, a context characterised by a pool of small and medium enterprises (SMEs), a limited skill set, poor quality of data, political uncertainty and a community-based business culture.
Design/methodology/approach
The study considers the audit market in Palestine using a sequential mixed-methods approach combining a questionnaire survey and a series of in-depth interviews. A total of 129 Big-4 and non-Big-4 auditors were surveyed.
Findings
The use of APs is driven by the auditor size (Big-4 vs non-Big-4) and the client size (large vs SMEs). Even though the use of APs has increased over the past decade, audit objectives, know-how, and personal, family and social connections among auditors and clients influence the quality of the audit process.
Practical implications
Small firms take advantage of the lack of audit governance in Palestine. Our findings suggest that the regulators should help bridge the knowledge-sharing programmes between the small and large audit firms to help improve audit quality.
Originality/value
Studies on audit quality, particularly using APs, in the context of politically unstable cases such as Palestine are limited. The study has implications for the use of APs in the case of SMEs to prepare for the technological revolution that will modernise audit procedures and quality soon.
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Md. Abdur Rahman Forhad, Gazi Mahabubul Alam, Afruza Haque, Md. Sawgat Khan and Mamunur Rashid
This study examines whether students graduating from SSC-VOC perform better in diploma engineering programs.
Abstract
Purpose
This study examines whether students graduating from SSC-VOC perform better in diploma engineering programs.
Design/methodology/approach
This study uses quantitative and qualitative methods to examine how secondary school certificate-vocational (SSC-VOC) graduates perform in their subsequent vocational programs.
Findings
Despite having vocational training orientation, this study finds that graduates from SSC-VOC receive lower grades than their public counterparts by 0.109 cumulative grade points average (CGPA).
Social implications
Findings imply that policymakers should increase teachers' numbers, salaries and laboratory facilities. In addition, collaboration between SSC-VOC institutions and polytechnics would allow them to offer a quality engineering education. In such a way, technical and vocational education and training (TVET) programs prepare human resources to promote economic development and employment, expand production opportunities and improve employment quality.
Originality/value
This is the first piece of work conducted in Bangladesh that has examined the quality of VET graduates for furthering their studies. This study added value by providing some pragmatic suggestions for practical implications.
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Md Mehedi Hasan Rubel, Syed Rashedul Islam, Abeer Alassod, Amjad Farooq, Xiaolin Shen, Taosif Ahmed, Mohammad Mamunur Rashid and Afshan Zareen
The main purpose of this study was to prepare the cotton fibers and cellulose powder by a layer of nano-crystalline-titanium dioxide (TiO2) using the sol-gel sono-synthesis method…
Abstract
Purpose
The main purpose of this study was to prepare the cotton fibers and cellulose powder by a layer of nano-crystalline-titanium dioxide (TiO2) using the sol-gel sono-synthesis method to clean the wastewater containing reactive dye. Moreover, TiO2 nano-materials are remarkable due to their photoactive properties and valuable applications in wastewater treatment.
Design/methodology/approach
In this research, TiO2 was synthesized and deposited effectively on cotton fibers and cellulose powder using ultrasound-assisted coating. Further, tetra butyl titanate was used as a precursor to the synthesis of TiO2 nanoparticles. Reactive dye (red 195) was used in this study. X-ray Diffraction, scanning electron microscopy and Fourier transform infrared spectroscopy were performed to prove the aptitude for the formation of crystal TiO2 on the cotton fibers and cellulose powder along with TiO2 nanoparticles as well as to analyze the chemical structure. Decoloration of the wastewater was investigated through ultraviolet (UV-Visible) light at 30 min.
Findings
The experimental results revealed that the decolorization was completed at 2.0 min with the cellulose nano TiO2 treatment whereas cotton nano TiO2 treated solution contained reactive dyestuffs even after the treatment of 2 min. This was the fastest method up to now than all reported methods for sustainable decolorization of wastewater by absorption. Furthermore, this study explored that the cellulose TiO2 nano-composite was more effective than the cotton TiO2 nano-composite of decoloration wastewater for the eco-friendly remedy.
Research limitations/implications
Cotton fibers and cellulose powder with nano-TiO2, and only reactive dye (red 195) were tested.
Practical implications
With reactive dye-containing wastewater, it seems to be easier to get rid of the dye than to retain it, especially from dyeing of yarn, fabric, apparel, and as well as other sectors where dyestuffs are used.
Social implications
This research would help to reduce pollution in the environment as well as save energy and cost.
Originality/value
Decoloration of wastewater treatment is an essential new track with nano-crystalline TiO2 to fast and efficient cleaning of reactive dyes containing wastewater used as a raw material.
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Rayenda Khresna Brahmana and Maria Kontesa
This paper examines the impact of sharia-compliant debt financing on stock price crash risk. Unlike those previous studies that took Sukuk or sharia-compliant firms, this study…
Abstract
Purpose
This paper examines the impact of sharia-compliant debt financing on stock price crash risk. Unlike those previous studies that took Sukuk or sharia-compliant firms, this study tests the impact of the proportion reported sharia-compliant debt financing in the balance sheet on the risk of price crash of a firm.
Design/methodology/approach
Using the data from 2,752 firm-year observations of 344 Malaysian non-financial listed companies from 2012 to 2019, this article used a robust panel data estimation technique for statistical inferences. This study also employs panel GMM and quantile least squares as the robustness check.
Findings
This study established a negative relationship between sharia-compliant debt financing and stock price crash risk. The robustness checks with different estimation techniques confirm the results. It implies that firms with a more significant proportion of Sharia-compliant financing tend to have lower future stock price crash risk.
Practical implications
Consistent with the Islamic finance literature, the present study contributes to the existing literature on Islamic capital markets from the perspective of stock price crash risk because it is vital for risk management and investment decision-making as a measure of tail risk for stocks. The findings of this research will assist investors in developing portfolio strategies that incorporate firms with higher levels of sharia-compliant debt financing in their balance sheets. Additionally, the results of this study suggest that policymakers and regulatory bodies should consider revising their monitoring approaches for publicly listed firms.
Originality/value
This study is interesting and unique, as it is a pioneer in testing the impact of sharia-compliant debt financing on reducing stock price crash risk.
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Umar Habibu Umar and Mamdouh Abdulaziz Saleh Al-Faryan
This study investigated how working capital management (WCM) influences the profitability of listed halal food and beverage companies.
Abstract
Purpose
This study investigated how working capital management (WCM) influences the profitability of listed halal food and beverage companies.
Design/methodology/approach
The study utilized a sample of 56 listed halal food and beverage companies operating in Indonesia, Malaysia, Saudi Arabia, Pakistan and the United Arab Emirates (UAE). Unbalanced panel data were generated from the Bloomberg database between 2008 and 2021. Besides, the study employed the two-step system generalized method of moments (GMM) technique for the estimation, which can address the models' endogeneity, heteroskedasticity and autocorrelation problems. Also, feasible generalized least square (FGLS) regression was applied to check the robustness of the results.
Findings
The study revealed that the cash conversion cycle (CCC) and accounts receivable period (ARP) significantly reduced firm profitability. Also, the inventory conversion period (ICP) significantly reduced return on assets (ROA) but insignificantly influenced return on equity (ROE). However, the results showed that the accounts payable period (APP) significantly increased firm profitability. These findings are robust to the results obtained by applying FGLS regression.
Research limitations/implications
The study utilized a sample of only the listed halal food and beverage firms that operate in Indonesia, Malaysia, Saudi Arabia, Pakistan and the United Arab Emirates (UAE).
Practical implications
The study suggests that the management of listed halal firms should adopt an aggressive policy in managing their working capital in order to enhance their financial performance. This could be attained by lowering CCC when ARP and ICP are reduced and APP is increased.
Originality/value
This study contributes to the literature by providing cross-country empirical evidence showing how working capital and its components affect the financial performance of firms that solely produce or buy and sell halal food and beverage products in five countries.
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Mustafa Raza Rabbani, M. Kabir Hassan, Syed Ahsan Jamil, Mohammad Sahabuddin and Muneer Shaik
In this study, the authors analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during…
Abstract
Purpose
In this study, the authors analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
Design/methodology/approach
The study used a mix of wavelet-based approaches, including continuous wavelet transformation and discrete wavelet transformation. The analysis used data from the Geopolitical Risk index (GP{R), Dow Jones Sukuk index (SUKUK), Dow Jones Islamic index (DJII), Dow Jones composite index (DJCI), one of the top crude oil benchmarks which is based on the Europe (BRENT) (oil fields in the North Sea between the Shetland Island and Norway), and Global Gold Price Index (gold) from May 31, 2012, to June 13, 2022.
Findings
The results of the study indicate that during the COVID-19 and Russia–Ukraine conflict period geopolitical risk (GPR) was in the leading position, where BRENT confirmed the lagging relationship. On the other hand, during the COVID-19 pandemic period, SUKUK, DJII and DJCI are in the leading position, where GPR confirms the lagging position.
Originality/value
The present study is unique in three respects. First, the authors revisit the influence of GPR on global asset markets such as Islamic stocks, Islamic bonds, conventional stocks, oil and gold. Second, the authors use the wavelet power spectrum and coherence analysis to determine the level of reliance based on time and frequency features. Third, the authors conduct an empirical study that includes recent endogenous shocks generated by health crises such as the COVID-19 epidemic, as well as shocks caused by the geopolitical danger of a war between Russia and Ukraine.
Highlights
We analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
The results of the wavelet-based approach show that Dow Jones composite and Islamic indexes have observed the highest mean return during the study period.
GPR and BRENT are estimated to have the highest amount of risk throughout the observation period.
Dow Jones Sukuk, Islamic and composite stock show similar trend of volatility during the COVID-19 pandemic period and comparatively gold observes lower variance during the COVID-19 pandemic and Russia–Ukraine conflict.
We analyze the impact of geopolitics risk on Sukuk, Islamic and composite stocks, oil and gold markets and portfolio diversification implications during the COVID-19 pandemic and Russia–Ukraine conflict period.
The results of the wavelet-based approach show that Dow Jones composite and Islamic indexes have observed the highest mean return during the study period.
GPR and BRENT are estimated to have the highest amount of risk throughout the observation period.
Dow Jones Sukuk, Islamic and composite stock show similar trend of volatility during the COVID-19 pandemic period and comparatively gold observes lower variance during the COVID-19 pandemic and Russia–Ukraine conflict.
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Sirajo Aliyu, Ahmed Rufai Mohammad and Norazlina Abd. Wahab
This study aims to empirically investigate the impact of political instability on the banking stability of the dual banking system in the Middle East and North African (MENA…
Abstract
Purpose
This study aims to empirically investigate the impact of political instability on the banking stability of the dual banking system in the Middle East and North African (MENA) countries.
Design/methodology/approach
The study measures banking stability with probability of default (PD) and Zscore by employing the generalised method of moment (GMM) between 2007 and 2021 on the dual banking system in the region. The authors further estimate short-long-run situations coupled with a robustness test using a generalised least square (GLS) model.
Findings
The authors' findings indicate that institutional factors of political stability, crisis period, high-crisis countries, law and order and macroeconomic indicators influence the two types of banking stability in the region. The authors found the consistency of the factors explaining stability in the region in both short-and long-run situations. Consequently, the study also reveals the adverse effects of crisis periods and high-crisis countries on banking stability.
Practical implications
The results of this study explicitly identify the critical need for sustaining political stability and abiding by laws and order to achieve dual banking stability in the region. Therefore, policymakers may consider allowing the region's banks to operate beyond retail banking since diversification enhances banking stability.
Originality/value
The authors' study balances by employing dual stability measurement in predicting the impact of political instability, law and order and other indicators on the MENA region's two banking models. This study uncovers the effect of the global crisis period on banking stability and high-crisis countries in the region and verifies the models' robustness.
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