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The purpose of this paper is to examine the informational value of Shariah-compliant disclosure in the Malaysian initial public offerings (IPOs) prospectus and whether Shariah-compliant status has an impact on the IPO initial return when adopted as a signalling mechanism.

It uses data from 320 IPOs for Shariah-compliant companies listed on the Bursa Malaysia between 2004 and 2013.

It finds that the degree of IPO underpricing for Shariah-compliant companies is 19.97 per cent with investors earning significant returns on the first trading day. For the effect of different factors on the degree of IPO, we find that the size and type of IPO offers have a significant impact on the degree of IPO underpricing. Other economic confidence factor models fail to yield economically plausible parameter values.

The study contributes to the literature in a number of ways. It is the first to evaluate the effect of Shariah-compliance status regulation in Malaysian market, hence it provides an insight into the effectiveness of such regulation. Second, while the existing Shariah-compliant IPO studies in the same market focus on Shariah status at the date of the studies being conducted, this study uses the information around IPO time. The information that investors receive around IPO time may influence investors’ decision and valuation of the IPOs in the aftermarket. Specifically, this study is different from the previous research, as it investigates whether Shariah-compliant companies would change the average degree of IPO underpricing for companies listed on Bursa Malaysia.

This paper aims to present a summary of the performance measurement and evaluation plan of the Wyoming connected vehicle (CV) Pilot Deployment Program (WYDOT Pilot).

This paper identified 21 specific performance measures as well as approaches to measure the benefits of the WYDOT Pilot. An overview of the expected challenges that might introduce confounding factors to the evaluation effort was outlined in the performance management plan to guide the collection of system performance data.

This paper presented the data collection approaches and analytical methods that have been established for the real-life deployment of the WYDOT CV applications. Five methodologies for assessing 21 specific performance measures contained within eight performance categories for the operational and safety-related aspects. Analyses were conducted on data collected during the baseline period, and pre-deployment conditions were established for 1 performance measures. Additionally, microsimulation modeling was recommended to aid in evaluating the mobility and safety benefits of the WYDOT CV system, particularly when evaluating system performance under various CV penetration rates and/or CV strategies.

The proposed performance evaluation framework can guide other researchers and practitioners identifying the best performance measures and evaluation methodologies when conducting similar research activities.

To the best of the authors’ knowledge, this is the first research that develops performance measures and evaluation plan for low-volume rural freeway CV system under adverse weather conditions. This paper raised some early insights into how CV technology might achieve the goal of improving safety and mobility and has the potential to guide similar research activities conducted by other agencies.

This paper is motivated by the heated debates preceding the introduction of additional regulatory requirements of Basel III on capital conservation buffer (CCB) and regulatory leverage (RLEV) in banks of emerging markets. The paper aims to examine which policy ratio can improve bank efficiency (BE), in one of the most resilient banking settings in the Middle East and North Africa (MENA) region.

The analysis is performed on a sample of 13 banks for the period 2010–2018 in Egypt and proceeds in two steps. In the first step, the data envelopment analysis model is used to derive bank-specific efficiency scores. In the second step, BE scores are regressed on the two types of regulatory capital and a set of control variables.

The paper is motivated by regulatory debates on the viability of RLEV and CCB in enhancing BE. The results show that higher RLEV and CCB are associated with a reduction in BE and that RLEV is highly associated with BE compared to CCB. Hence, results are relevant to policymakers in designing measures for improving BE in emerging markets.

The findings contribute to a small but growing stream of research on capital adequacy in emerging markets. This study provides results on the viability of risk-based vs non-risk-based capital requirements. The findings are also relevant to bank regulators in similar emerging market settings in their efforts to introduce and phase in minimum leverage requirements according to Basel III.

The study investigates perceptions and debate that are linked to the relationship between religion, alcohol, tourism and hospitality within the context of an Islamic tourist destination. An analytical approach involving a review of literature, assessment of conservationists’ attitude representing Islam and Christianity, and current trends using a student sample to determine intentions is used. The study findings suggest that alcohol and religiosity are not compatible, use, abuse and dependency are more common among non-believers than believers. A tense dispute continues in the Arab World around alcohol. The study contributes to the literature by highlighting economics, social practice, theoretical and managerial implications related to alcohol service in Egypt and suggests a way forward for global Muslim staff working in the hospitality, tourism, and travel industries.

The study uses an analytical approach involving a review of literature, assessment of conservationists’ attitude representing Islam and Christianity and current trends using a student sample to determine intentions.

The study findings suggest that alcohol and religiosity are not compatible, use, abuse and dependency are more common among non-believers than believers. A tense dispute continues in the Arab World around alcohol.

The study is assessing the relationship between religion, alcohol, hospitality and tourism within the context of Egypt, advances knowledge about halal tourism and hospitality by explicitly linking religious obligations and the implication on tourism. The findings should be used with caution considering the subjectivity of responses and the size of the sample.

The service/hospitality industry managers could be Muslims or non-Muslims representing major airlines, hotels and restaurants where alcohol is served by Muslim employees. These managers should consider avoiding the sale or serving of alcohol completely, and if not, they must not force their workers to serve alcohol if they chose not to.

Faith-based (e.g. Muslims, Seventh Day Adventists and Mormons), ideological or ethically driven alternative services should be created for the staff concerned with alcohol service/consumption. Employment is to be provided to adherents of these faiths or ideologies as an alternative resort.