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Cost estimation is a major concern while planning projects on public–private partnership (PPP) terms in developing countries. To bridge the gap of the right approximation of cost of capital, this study aims to sermon a significant role of investor’s risk perception as unsystematic risk in PPP-based energy projects.

To investigate the effective mechanism of determining cost of capital and valuing the capital budgeting, a pure-play method has been acquired to measure systematic risk. In addition, dynamic conditional correlation (DCC) and generalized autoregressive conditional heteroscedasticity (GARCH) models have been applied to calculate weighted average cost of capital.

Initially, a joint cost of capital of energy-related projects has been calculated using DCC-GARCH and pure-play method. Investors risk perception has been discussed through market point of view using country risk premium modeling. Latter yearly betas have been calculated using DCC signifying the final outcomes that applying a dynamic model can provide a better cost estimation in emerging economies.

The findings are implicating that due to the involvement of international investors, domestic risk is linked with country risk. In such situations, market-related information is a key factor to find out the market performance, helping in the estimation of cost of capital through capital asset pricing model (CAPM). High dynamic nature of emerging economies causes an impediment in the estimation of cost of capital. Consequently, to calculate risk in dynamic markets, this study has acquired DCC model that can predict the value of beta factor.

Study contributes to the body of knowledge by addressing an important issue of investor’s risk perception and effective implication of CAPM using pure-play and DCC-GARCH when data is not promptly available in dynamic situations.

The purpose of this article is to consider cultural ethos of philanthropy that has proved effective in minimising the plight of the vulnerable in general and particularly during the COVID-19 pandemic. By discussing the divergent philanthropic approaches that have been adopted to counter the challenge of the pandemic, this article fulfils one of comparative laws' crucial tenets to improve the local environment by learning from other jurisdictions.

An exploratory and qualitative method through categorical and theoretical analysis of recent and historical scholarship on the Islamic culture is undertaken. An extensive use of journalistic and editorial reports on the South Af rican context is explored to demonstrate the plight of the vulnerable during the COVID-19 pandemic.

The COVID-19 pandemic has exposed how economically and structurally fragmented South African society is. More specifically, it has reinforced the existence of an “invisible” group of people – the poor and vulnerable – who have been hit harder by the government's responses aimed at containing the spread of the COVID-19 virus. The depiction of an unequal and uncaring society has spurred extensive rhetoric and reflection centred on the need to regain society's conscience as regards the plight of the poor. This article finds that much as there has an awakening towards societal inequality and vulnerability, there are, however, no concrete suggestions upon which change of attitude can be founded. Further, it can be argued that the plight of the vulnerable could have been softened had society cherished a culture of charity. Taking a cue from Islamic culture, this article avers that there is a need to embed philanthropy within society's cultural norms so as to forge effective bonds and maintain social cohesion.

The practical implications of this article relate to the need for the revaluation of the moral campus of South African communities. It supports calls for the alignment of community attitudes with humanity so as to improve the lives of the less privileged members of the society. Additionally, this discussion adds value to the scholarship, which aims to engender community-based welfare schemes for the benefit of the vulnerable.

By highlighting socio-economic consequences of the COVID-19 pandemic on the vulnerable and highlighting the Islamic approaches to ameliorating the condition of the poor, it is hoped that this article will stimulate debate that can bring change for marginalised groups. The analysis provides some crucial discussions for potential societal interventions, which could assist in revisiting how society takes care of the poor and vulnerable.