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Open Access
Article
Publication date: 25 March 2019

Mohamed Hamour, Mohammad Hassan Shakil, Ishaq Mustapha Akinlaso and Mashiyat Tasnia

This paper aims to analyse the concept of form over substance and introduces the term substance gap to the literature. The substance gap is defined as the difference between the…

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Abstract

Purpose

This paper aims to analyse the concept of form over substance and introduces the term substance gap to the literature. The substance gap is defined as the difference between the way a concept is expressed and its intended result. Besides, the study investigates the issue from both classical and contemporary viewpoints.

Design/methodology/approach

The methodology adopted in this paper is descriptive research.

Findings

This paper has depicted the substance gap in contemporary contracts and found that form is equally important as substance in Islamic finance contracts. This paper offers a fresh outlook on form and substance to highlight the importance of the issue and its significance. The findings of the study will help researchers address the issue at its roots and help them to bridge the gap between the form and substance of Islamic finance contracts.

Originality/value

This paper investigates the substance gap in contemporary contracts that exists between the fiqh rules and conditions of an Islamic contract, and their development and construction. Further, the gap could also be attributed to the pressure to cope with a complicated modern finance environment.

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 1
Type: Research Article
ISSN: 0128-1976

Keywords

Article
Publication date: 6 November 2020

Mohammad Hassan Shakil, Mashiyat Tasnia and Md Imtiaz Mostafiz

Gender diversity in corporate boards is broadly studied in existing corporate governance literature. However, the role of board gender diversity on environmental, social and…

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Abstract

Purpose

Gender diversity in corporate boards is broadly studied in existing corporate governance literature. However, the role of board gender diversity on environmental, social and governance (ESG) performance of the banks is still unaccounted for. Drawing on resource dependence and legitimacy theory, this study addresses this pressing research issue. Moreover, investigation of ESG controversies as a moderator paves the existing corporate governance research to the new avenues.

Design/methodology/approach

Data were sourced from Refinitiv database on 37 US banks from the period of 2013 to 2017. This study employs static and dynamic panel regression models that include random effects, fixed effects and dynamic generalised method of moments (GMMs) to test the hypotheses. Furthermore, system GMM is used to reduce the issue of endogeneity, measurement error, omitted variables bias and bank-specific heterogeneity.

Findings

We identify a significant positive relationship between board gender diversity and the ESG performance of US banks. However, the result propounds non-significant moderating effect of ESG controversies on the board gender diversity–ESG performance nexus.

Originality/value

Literature on board gender diversity and ESG separately and predominantly explains firm/bank's financial performance. This study is one of the pioneering attempts to explain the role of board gender diversity on ESG performance. Although incremental, however, this study also contributes to the literature on ESG in the US context.

Details

International Journal of Bank Marketing, vol. 39 no. 4
Type: Research Article
ISSN: 0265-2323

Keywords

Open Access
Article
Publication date: 13 February 2018

Mohammad Hassan Shakil, Is’haq Muhammad Mustapha, Mashiyat Tasnia and Buerhan Saiti

The argument whether gold is a hedge or haven is a debatable issue. Mainly, hedge is a class of asset that is negatively correlated with another asset or portfolio on average. On…

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Abstract

Purpose

The argument whether gold is a hedge or haven is a debatable issue. Mainly, hedge is a class of asset that is negatively correlated with another asset or portfolio on average. On the other hand, a safe haven is an asset or portfolio which is negatively correlated with another asset or portfolio at the time of market turmoil. Therefore, the purpose of this research is to take Saudi Arabia as an example to examine the relationship of gold price in Saudi Arabia with key determinants such as the stock market index, oil prices, exchange rate, interest rate and consumer price index (CPI) by application of the autoregressive distributed lag model (ARDL).

Design/methodology/approach

The ARDL analysis was employed by using six variables based on the application of monthly time series data that were collected from 2011 to 2015.

Findings

From the present analysis, it has been discovered that gold is useful as a portfolio hedge and as a hedge against inflation because it is not affected by the CPI. External factors, for example, financial crisis, may be harmful to the CPI, thus adding a certain percentage of gold in the investment portfolio may assist in decreasing the level of risk at the time of financial turmoil.

Originality/value

Because gold seems to be a useful portfolio hedge, as well as an inflation hedge, government policies to curb the import of gold may be futile. The present research suggests that policies that directly address the causes of inflation and provide alternative investment opportunities for retail investors may better serve the objective of decreasing gold imports.

Details

Journal of Economics, Finance and Administrative Science, vol. 23 no. 44
Type: Research Article
ISSN: 2077-1886

Keywords

Open Access
Article
Publication date: 16 January 2019

Nihal Mahmood, Mohammad Hassan Shakil, Ishaq Mustapha Akinlaso and Mashiyat Tasnia

The purpose of this paper is to examine the relationship between foreign direct investment (FDI) flows and institutional stability. The focus country is Canada. It is one of the…

4106

Abstract

Purpose

The purpose of this paper is to examine the relationship between foreign direct investment (FDI) flows and institutional stability. The focus country is Canada. It is one of the few countries where the economy remained relatively stable compared to other economies during the Global Financial Crisis. It is crucial for Canada to determine the optimal level of institutional development to attract more FDI and sustain the sound financial stability in future.

Design/methodology/approach

This study uses the auto-regressive distributive lag (ARDL) approach to understand the relationship between FDI and institutional stability along with other controlled variables, for instance, gross national product, inflation and exports.

Findings

The key finding of this work is that FDI and institutional stability are cointegrated in the long run. The error correction model of ARDL shed light on institutional stability being an exogenous variable, and FDI is an endogenous variable. Institutional stability affects FDI, as it is exogenous. The findings will help policymakers to implement policies to strengthen the institution’s settings, and this, in turn, will attract more investment.

Originality/value

Based on previous theoretical and empirical literature, most of the research points to FDI positively affect institutional stability. In some cases, the relationship does not always hold true. This study will fix the gap in the literature by investigating the relationship between FDI and institutional stability of Canada.

Details

Journal of Economics, Finance and Administrative Science, vol. 24 no. 47
Type: Research Article
ISSN: 2077-1886

Keywords

Article
Publication date: 4 October 2021

Mohammad Hassan Shakil and Nor Shaipah Abdul Wahab

This study aims to examine the effects of top management team (TMT) heterogeneity and corporate social responsibility (CSR) on the firm risk of Bursa Malaysia listed firms. Also…

Abstract

Purpose

This study aims to examine the effects of top management team (TMT) heterogeneity and corporate social responsibility (CSR) on the firm risk of Bursa Malaysia listed firms. Also, this study examines the moderating effect of CSR between TMT heterogeneity and firm risk.

Design/methodology/approach

This study uses panel regression models to test the hypotheses. The sample of this study is Bursa Malaysia non-financial listed firms from 2013 to 2017 with 3,055 observations.

Findings

This study finds significant effects of TMT age and tenure heterogeneities on total risk. Effects on idiosyncratic risk are evident only within age heterogeneity. Further, this study finds negative effects of CSR on total and idiosyncratic risks. CSR significantly moderates the relationship between total TMT heterogeneity and firm systematic risk.

Practical implications

This study reduces the literature gap by providing useful insights on the effects of CSR activities and TMT heterogeneity on firm risk. The findings can also provide hints to investors to assist them in assessing firm risk based on TMT heterogeneity and firms’ CSR. This study can also benefit shareholders in their attempts to mitigate the risk of their portfolio by investing in firms that are socially responsible as firms with high CSR suffer lower total and idiosyncratic risks.

Originality/value

Previous studies have emphasised on the influence of TMT characteristics and CSR on firm performance. However, studies that investigate the effects of TMT heterogeneity and CSR on firm risk are limited in the context of Malaysia.

Details

Journal of Financial Reporting and Accounting, vol. 21 no. 2
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 21 June 2020

Ziaul Haque Munim, Rotem Shneor, Olugbenga Michael Adewumi and Mohammad Hassan Shakil

SME funding gaps in developing economies are substantial. Crowdfunding is an innovative way to raise funds that may be part of the solution for closing such gaps. The purpose of…

Abstract

Purpose

SME funding gaps in developing economies are substantial. Crowdfunding is an innovative way to raise funds that may be part of the solution for closing such gaps. The purpose of this study is to investigate the determinants of crowdfunding contribution intentions in the context of a developing country –Bangladesh.

Design/methodology/approach

The authors collect data by using a structured questionnaire distributed through Facebook. The analysis is based on data collected from 252 valid responses and uses the ordered probit regression for estimation. For robustness, the authors also estimate the hypothesized model using ordered logistic regression and OLS regression finding identical results.

Findings

The authors find that liking the campaign idea and positive media coverage of a crowdfunding campaign have a positive association with crowdfunding contribution intention. Surprisingly, personal relations, others' recommendation and the location of the campaign's owner were not significantly associated with crowdfunding contribution intention in our study. Moreover, respondents' location in Bangladesh (vs. abroad) and their age are positively associated with contribution intention, while education is negatively associated with intention.

Originality/value

Earlier studies focused on the determinants of ex post crowdfunding intentions in developed and more mature crowdfunding markets. The authors contribute by examining ex ante crowdfunding contribution intentions in the developing economy of Bangladesh, which is at the market's inception stage.

Details

International Journal of Emerging Markets, vol. 16 no. 6
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 2 September 2019

Mohammad Hassan Shakil, Nihal Mahmood, Mashiyat Tasnia and Ziaul Haque Munim

Earlier firms were evaluated mostly from their financial performance perspective, but with the increasing attention to sustainability goals, environmental, social and governance…

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Abstract

Purpose

Earlier firms were evaluated mostly from their financial performance perspective, but with the increasing attention to sustainability goals, environmental, social and governance (ESG) performance of firms became key concerns to stakeholders. The purpose of this paper is to explore the effects of ESG performance of banks on their financial performance, in the context of emerging markets.

Design/methodology/approach

This study employs the generalised method of moments technique for estimation purpose due to the dynamic nature of the data and to correct for endogeneity. This study uses the ESG performance data of 93 emerging market banks from 2015 to 2018, available in Asset4 ESG database of Refinitiv, formerly known as Thompson Reuters. The accounting and financial data are collected from Refinitiv Datastream database.

Findings

The findings indicate a positive association of emerging market banks’ environmental and social performance with their financial performance, but governance performance does not influence financial performance.

Originality/value

While many studies exist on the association of ESG concerns of an organisation with their financial profitability, the literature on in the context of banking is still limited. To the best of the authors’ knowledge, this is the first study that examines the effect of ESG practices of banks on their financial performance in the context of emerging economies.

Details

Management of Environmental Quality: An International Journal, vol. 30 no. 6
Type: Research Article
ISSN: 1477-7835

Keywords

Open Access
Article
Publication date: 10 June 2019

Beebee Salma Sairally

727

Abstract

Details

ISRA International Journal of Islamic Finance, vol. 11 no. 1
Type: Research Article
ISSN: 0128-1976

Article
Publication date: 13 May 2024

Eijaz Ahmed Khan, Md. Maruf Hossan Chowdhury, H.M. Kamrul Hassan, A.K.M. Shakil Mahmud and Mohammad Shamsuddoha

Recycling is associated with positive social and environmental impact, but previous studies have overlooked the cost of recycling operations. Based on the dynamic capability view…

Abstract

Purpose

Recycling is associated with positive social and environmental impact, but previous studies have overlooked the cost of recycling operations. Based on the dynamic capability view, the purpose of this study was to identify and evaluate risk factors and resilience strategies within the recycling industry, prioritize these factors and identify the optimal combination of resilience strategies and risk factors to improve market performance.

Design/methodology/approach

The research questions were addressed in three subsequent studies. In Study 1, qualitative interviews were conducted to identify risk factors and strategies to mitigate those risks. In Study 2, quality function deployment methodologies were implemented via case studies derived from three different companies. Based on the results of Studies 1 and 2, in addition to the use of fuzzy set qualitative comparative analysis, Study 3 aimed to determine the optimal combination of risk factors and strategies impacting market performance.

Findings

The results across the three studies revealed a number of risk factors as well as which risk factors and resilience strategies have the greatest impact on market performance. Specifically, it was found that higher levels of readiness, response and recovery strategies lead to greater market performance, whereas weak readiness, response and recovery strategies, along with low societal, environmental and health and safety risk factors, significantly inhibit performance.

Originality/value

This research extends current understandings of market performance in relation to recycling industry management and offers insight for decision-makers toward combating significant risk factors in business-to-business settings.

Details

Journal of Business & Industrial Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0885-8624

Keywords

Book part
Publication date: 6 May 2024

Mariam Ahmed, Fatma Ahmed and Khaled Hussainey

This chapter provides a comprehensive investigation of the literature on sustainability reporting in Islamic banks using a content analysis of 200 English language articles…

Abstract

This chapter provides a comprehensive investigation of the literature on sustainability reporting in Islamic banks using a content analysis of 200 English language articles published between 2000 and 2023. The data were collected from the Web of Science (WOS) database and analyzed using Bibliometrix in R software. This chapter addresses the trends of the most influential authors, institutions, countries, and research hotspots. This chapter fills one of the gaps in sustainability reporting literature, setting up a statistical description of the principal features of sustainable Islamic banking research and carrying out an analysis of its knowledge structure via bibliometric analysis. This chapter found that the number of articles on sustainability reporting in Islamic banks has increased over time; however, it is concentrated on a few core sources and authors, mostly related to Islamic finance, accounting, and ethics, as well as sustainability and social responsibility. The analysis of the co-authorship network shows a limited degree of collaboration between researchers from different clusters. The most productive and collaborative countries are Malaysia, the United Kingdom, and Pakistan, reflecting their well-developed and regulated Islamic banking industries that follow sustainability guidelines and frameworks. Moreover, the co-word analysis identifies 11 clusters and 43 keywords that represent the main topics and themes in the field, such as corporate governance, performance, disclosure, and risk. This chapter suggests some directions for future research and action on sustainability reporting in Islamic banks. This chapter contributes to the literature on sustainability in Islamic banking and the UN 2030 Agenda for Sustainable Development.

Details

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

Keywords

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