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This paper aims to examine the demographic diversity at top-level management and its impact on the performance of Malaysian-listed companies. In addition, Muslim diversity on corporate boards is examined.

Although many organisations aspire to be socially diverse, diversity’s consequences for organisational performance remain unclear. This study specifies the whole distinct mechanism and measures it independently, bridging as the demographic diversity among the board of directors (BODs) and bonding as the firm’s financial performance. To maintain the homogeneity factor, the empirical analysis has been confined to 12 fully fledged sectors and 529 Malaysian listed firms out of 798 firms selected on the basis of judgmental sampling during the period of 2013. The paper applies the correlation matrix and linear regression model to justify this phenomenon.

The empirical findings suggest that gender diversity (Muslim and Non-Muslim women) is positively significant with firm performance with regards to management, shareholders and market perspectives. It means that both Muslim and non-Muslim women are contributing to firm performance. Ethnic diversity (minority) and Muslim diversity (majority) have no impact on firm performance. On the other hand, interaction variables are positively significant with firm performance. It means that majority and minorities are essential for corporate boards to produce a greater performance.

Future research could include more variables such as director’s age profile and foreign participation as well as other types of diversities, such as cognitive diversity and corporate diversity. In addition, another possible extension could be the investigation of diversity issues between small scale and large or high and low-profit firms. The findings provide insightful information to firms, as this study suggests that the diverse corporate boards can enhance firm performance.

In recent years, diversity issues have been examined with regard to firm performance of the listed companies. Whilst extensive literature exists on diversity issues, this issue is still under debate and has had inconsistent results. The paper attempts to fill the gap in the existing literature, discuss the empirically diverse corporate boards with the interaction approach and impact on the firm performance.

This study aims to determine the effect of different friction stir welding (FSW) parameters on mechanical and metallurgical characteristics of aviation-grade AA8090 alloy joints.

Response surface methodology with central composite design is used to design experiments. The mechanical and microstructure characteristics of the weld joints have been studied through a standardized method, and the influence of threaded pins on the joint microstructure has also been assessed.

From a desirability strategy, the optimum parameters setting of the friction stir welding was the tool rotational speed (TRS) of 800, 1,100 and 1,400 rpm; tool traverse speed (TTS) of 20, 30 and 40 mm/min; and tilt angle 1°, 2° and 3° with different tool pin profiles, i.e. cylindrical threaded (CT), square threaded and triangular threaded (TT), for achieving the maximum tensile strength, yield strength (YTS) and % elongation as an output parameter. The TRS speed was the highest weld joint characteristics influencing parameter. Peak tensile strength (378 MPa), percentage elongation (10.1) and YTS (308 MPa) were observed for the optimized parametric value of TRS-1,400, TTS-40 mm/min and TA (3°) along with CT pin profile. Microstructure study of the welded surface was achieved by using scanning electron microscope of output parameters. When the tool rotation speed, tool transverse speed, tilt angle and tool profile are set to moderately optimal levels, a mixed mode of ductile and brittle fracture has been seen during the microstructure analysis of the welded joint. This has been aided by the material’s plastic deformation and the small cracks surrounding the weld zone.

From the reported literature, it has been observed that limited work has been reported on aviation-grade AA8090 alloys. Further thermal behavior of welded joints has also been observed in this experimental work.

This study is about the determinants of cash holding and impact of cash holding on mutual funds’ performance. In addition, the study analyzes the impact of performance-related determinants of cash holding on funds' performance.

Panel data of ten years of 190 open-end mutual funds are analyzed through fixed effect regression technique. The risk-adjusted funds' performance of cash based portfolios is computed through capital asset pricing model (CAPM) (1964), Fama and French (1993) and Carhart (1997) models.

The results indicate that small size funds, high charging front-end load funds, high turnover ratio funds, high 12-month fund returns run up, high dividend paying funds and high redemption level funds hold more cash for precautionary purpose to avoid costs of cash short-falls. Further, monthly average raw returns and risk-adjusted performance of funds with the lowest raw and residual cash holding are found higher than the funds with the highest cash holding. An increase in cash is found to dilute performance.

This is a pioneer study in a corporate environment with shallow capital market, reliance of businesses on bank credit, firms exposed to agency issues, wealth expropriations and existence of business groups with political linkages but with opportunities of investments due to expected favorable geo-socio-political situation. The study generates outcomes relevant for other similar economies.

The purpose of this paper is to organize and present the literature related to firm’s capital structure across the years and find the most relevant publications and authors in the research area. Moreover, the authors pretend to fill the gap in the literature by studying different works and their compatibility with the main theories.

The systematic literature review is conducted by using the Scopus database. The methodology applied is through a concise searching considering keywords, the most cited papers, the latest publications and theories that explain small and medium enterprises (SMEs) capital structure.

Some key aspects about the capital structure of firms and SMEs are identified, such as documents per year, type of publications, the most used languages, the top journals, the most cited papers, the most productive and influential authors and the latest published papers.

The information presented is only informative from the Scopus database. Hence, this work only gives a general orientation of the most relevant research and its tendency of this database. More exhaustive works could be done using different keywords and analyzing other firms’ characteristics.

This kind of study is effective in evaluating the scientific production and to find the most important contributions of the subject. Furthermore, this information is useful for researchers’ studies on SME capital structure to underline the research direction and to be acquainted with the literature tendency.

There are not similar works that delve into the literature respect to SME capital structure and compare the main theories in relation to empirical works. Therefore, a synthesized evolution of previous works related to the capital structure of firms and SMEs is presented.

The aim of this study is to explore and establish the relationships between justice dimensions, expectation-confirmation model (ECM) and continuance intention and also to examine the mediating effect of learners’ satisfaction and perceived usefulness toward continuance intentions of the university learning management system (LMS) within open and distance learning (ODL) context.

A cross-sectional research design was used, and the data were collected from a sample of 366 respondents utilizing the online survey questionnaire approach. Hypotheses were tested using the partial least square (PLS) SEM technique.

The findings reveal that justice dimensions (distributive, procedural, interpersonal and informational justice) have a significant relationship with learners’ satisfaction. Performance confirmation have significant relationship with learners’ satisfaction and perceived usefulness. Perceived usefulness has a direct significant relationship toward learners’ satisfaction, and learners’ satisfaction has a direct significant relationship toward continuance intention. For mediation analysis, learners’ satisfaction was found to have a mediation effect in the relationship between the justice dimensions and continuance intention. Learners’ satisfaction was also found to have a mediation effect on the relationship between performance conformation and continuance intention. However, learners’ satisfaction was found not to have a mediation effect on the relationship between perceived usefulness and continuance intention, and perceived usefulness does not have a mediation effect in the relationship of performance confirmation and learners’ satisfaction.

This study advances knowledge and provides valuable insights to practitioners and academic scholars to have a better understanding of the effective attributes of the university LMS, and also to maximize the revenues and the sustainability of the institutions in long term, especially in the 21st century.