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The purpose of this paper is to illustrate a profitable and original index options trading strategy.

The methodology is based on auto regressive integrated moving average (ARIMA) forecasting of the S&P 500 index and the strategy is tested on a large database of S&P 500 Composite index options and benchmarked to the generalized auto regressive conditional heteroscedastic (GARCH) model. The forecasts validate a set of criteria as follows: the first criterion checks if the forecasted index is greater or lower than the option strike price and the second criterion if the option premium is underpriced or overpriced. A buy or sell and hold strategy is finally implemented.

The paper demonstrates the valuable contribution of this option trading strategy when trading call and put index options. It especially demonstrates that the ARIMA forecasting method is a valid method for forecasting the S&P 500 Composite index and is superior to the GARCH model in the context of an application to index options trading.

The strategy was applied in the aftermath of the 2008 credit crisis over 60 months when the volatility index (VIX) was experiencing a downtrend. The strategy was successful with puts and calls traded on the USA market. The strategy may have a different outcome in a different economic and regional context.

This paper aims to explore the ubiquitous role of the smartphone in expanding entrepreneurial opportunity among women in emerging Asia. This study attempted to explore the hidden issues behind increased innovative entrepreneurial tendency.

This study used a mixed research methodology. First, prior research based on different aspects of entrepreneurial tendency was reviewed in a systematic way. Second, a person-administered survey was conducted based on 265 women who are involved in entrepreneurial activities in different regions in Asia. Structural equation modeling (Amos) is used to analyze the person-administered survey.

Results show a significant relationship among the independent and dependent variables of the study which indicates a significant entrepreneurship opportunity for women in emerging Asia.

This study was conducted with a limited number of entrepreneurs from a few Asian countries which may affect the generalizability of the result.

This study fulfills the gap in the current literature by analyzing innovativeness in entrepreneurship with the usage of smartphones and increased tendency among women to conduct business.

In response to the scarcity of research on Islamic corporate social responsibility (CSR), the purpose of this paper is to explore how young Saudi consumers perceive CSR from an Islamic perspective. The study is focused on Saudi Arabia, a Muslim country, and the largest exporter of petroleum in the world.

The present study uses a qualitative methodology with 34 in-depth interviews undertaken in two major Saudi cities (Tabouk and Riyadh).

Utilising social contract theory, this study contributes to the literature by developing an Islamic “CSR Tree” model (which consists of three parts: “roots”, “trunk”, and “crown”) to increase the understanding of Islamic CSR (i-CSR) and consumer behaviour. The roots are hidden, while the trunk and crown are visible. In particular, private social responsibility (the roots of the CSR Tree) incorporating Sadaqa, or values and intention, is the fundamental component on which organisations should base their CSR strategy from an Islamic perspective. The study also reveals that internal, external, and private social responsibilities are connected, and all are dependent on each other. The higher the level of private social responsibility exhibited, the higher the level of external social responsibility.

According to the CSR Tree model presented in this study, an organisation should avoid Riya (showing off) as this would represent shirk or idolatry, which is the opposite of Tawhid. The findings are particularly relevant for advancing the concept of i-CSR and for considering complex perspectives less travelled in the CSR literature. The study suggests that the best strategy for an organisation wishing to pursue an i-CSR agenda would be to balance internal and external responsibilities, and to bear in mind that private responsibility should be the motivation for action, and that CSR should be applied for the benefit of society.

The purpose of this paper is to analyse the citations of scientific research on the concept of corporate social responsibility (CSR) from 1970 to 2014. In particular, several interconnected research questions were investigated: How did the conceptualisation of CSR change from 1970 to 2014? What is the general direction of the change? How does Islamic CSR emerge?

An in-depth analysis was performed with the use of the data analysis tool available in the Web of Science. The study categorises CSR into four areas: business ethics and corporate governance; management; marketing; and others. The first three categories were based on the Chartered Association of Business Schools’ Academic Journal Guide 2010 and 2015 (UK).

The findings reveal that 67.19 per cent articles have been published based on the ranked journals of Academic Journal Guide 2010 and 2015. The findings of the study will help to inform future areas of CSR. The top journals which published most articles from Academic Journal Guide 2015 are Journal of Business Ethics and Corporate Social Responsibility and Environmental Management.

The findings suggest that the remit of sustainability from Islamic perspective is wider. Islamic marketing, as an area, remains largely in need of empirical research. The business communities should successfully integrate Muslim communities into their marketing strategies.

To the best of the knowledge, this is the first study to explore citation analysis of general CSR literature and Islamic CSR. The study finds that there has been an increase in interest in this subject of CSR and Islam in the recent years. Future research is needed on theory and methodological analysis of general CSR field and Islamic CSR field.

Tax evasion in developing countries is widespread. However, little attention has been paid to tax evasion in developing countries. This chapter addresses two research questions: RQ1: What are the determinants of tax evasion of Bangladesh? and RQ2: How do the interests of state actors influence tax evasion? The study focused on a developing country with reference to Bangladesh. This is because Bangladesh exhibits one of the smallest tax to GDP ratios in the world. Using quantitative and qualitative interviews, this chapter sheds light on the impact of state actor(s) role on tax evasion over the period 1981–2014. The state actor(s) failed to institutionalize the norms due to political influence. Results provide evidence that lack of enforcement increases tax evasion. The chapter provides a theoretical framework to study determinants of tax evasion.

The present study seeks to paint the current state of voluntary disclosure of internet financial reporting (IFR) in Bangladesh as an example of an emerging economy and to investigate empirically some company characteristics as determinants of such practice.

Using a sample of 83 listed companies in Bangladesh in the year 2009 and the disclosure index of Deller et al., Marston, Xiao et al. and Marston and Polei and comments from the users and investors of Bangladesh, the study employs statistical analysis to investigate the association between a number of company characteristics and the extent of voluntary disclosure of IFR.

The findings revealed that only 29.12 percent (83) companies had web sites out of the 285 listed companies and only 33.34 percent (28) companies' provided financial information. Out of seven variables, only big audit firms and non‐family ownership variables were significantly associated with the levels of voluntary disclosure. Another important result revealed that despite the mandatory requirements of having audit committee in Bangladesh, the companies without the audit committee were disclosing voluntary information more and it raised the question on the lack of regulatory enforcement in Bangladesh.

The scope of this study is limited to a single country; it would be interesting to replicate this study to a group of emerging countries which have many similarities to the Bangladesh environment.

To the best of the authors' knowledge, no studies have been conducted on IFR in a South Asian emerging country, in particular Bangladesh. The study also is the first of its kind to examine the whole population of a period in any country which enhances contribution to IFR literature. Unlike the prior studies conducted in emerging countries, the study contributes not only to the present state of IFR by the listed companies in Bangladesh but also the connectivity problem between the dream and reality of the digital Bangladesh concept. The study also finds that the companies' IFR practices are not influenced by “Digital Bangladesh” concept.

The purpose of this paper is to examine the perceived Bangladesh privatized healthcare sector accountability gap.

Data were collected from 533 patients using services in 45 Dhaka city privatized hospitals. A questionnaire was designed based on 60 patient focus study group and the literature.

Structural equation modeling provides a comprehensive picture that allows healthcare constructs and accountability to be tested. The goodness‐of‐fit statistics supported the four factors of professionals, administration and management, legal enforcement, ethics and government, which were significantly associated with accountability. Despite Bangladeshi privatized healthcare growth, the study revealed that accountability mainly depends on government initiatives and effectively implementing existing laws.

The study covered one Bangladesh city (Dhaka) owing to resource constraints. Qualitative methods may have enriched the findings.

The accountability dimensions may be applicable to other countries to examine the perceived accountability gap. The study looked at the current Bangladesh privatized healthcare sector. Major issues of Bangladesh privatized healthcare accountability are discussed and recommendations for policymakers are suggested to improve the current circumstances.

The study is the first of its kind to examine accountability among privatized healthcare providers in developing countries. Patients’ accountability views require urgent attention from policy makers.

The purpose of this paper is to examine the intellectual capital reporting (ICR) practices of listed non‐financial companies in Bangladesh as an example of a South Asian developing country, and to empirically investigate some company characteristics as determinants of such practices.

This is an empirical study of ICR by 90 listed companies in Bangladesh in 2008‐2009 using content analysis of annual reports. The study uses a weighted disclosure index and ordinary least squares regression analyses to test the association between company characteristics and the extent of ICR.

The study finds that despite the stock market growing significantly during the recession period, there is a tendency of companies not to disclose IC. The study also confirms that size and industry are important attributes to explain the IC disclosure (ICD) issues in Bangladesh. Unlike prior studies, the study finds that the IT sector does not tend to disclose more extensively, and that companies currently fail to disclose many important items such as patents, trademark and copyrights. The result is an indication that companies in Bangladesh are reluctant to disclose IC. The study is also similar to Abeysekera and Guthrie, who found that Sri Lanka is a proactive rather reactive country in terms of ICR. The study also finds ICR depends on the self‐interests of the company.

The scope of this study is limited to single year, 2008‐2009. It would be interesting to replicate this study in other developing countries or a group of developing countries in South Asia that have many similarities to the Bangladesh socio‐economic environment. Nevertheless, the study incorporates the current level of ICR transparency in Bangladesh.

Unlike previous studies, the present study is based on a developing country where the capital market is growing significantly during the recession years. The study also develops a weighted disclosure index in a developing country context, based on the extensive literature of ICD and some new characteristics, namely non‐family ownership, audit committee and liquidity risk.

This study investigates the tax evasion practices in a lower-middle income economy in South Asia, with specific reference to Bangladesh (which is the only economy within South Asia that had consistent 6% and above gross domestic product (GDP) growth from 2011 to 2013). This study adopted mixed methodology (documentary analyses and a focus group interviews with 20 participants) to reach the overall objective of the research. Using Hofstede et al.’s (2010) cultural theory, the contribution of the study is that the cultural dimension itself cannot correspond to the causes of tax evasion, the other institutional factors (e.g., political connectedness in both private and public sectors, multinational companies (MNC)’s role and corruption, and a lack of public sector accountability and enforcement) are needed to complement the causes of tax evasion. The second major contribution is that Hofstede’s last two dimensions (i.e., short-term and restraint society) can correspond to the preliminary four dimensions (i.e., uncertainty avoidance (UA), masculinity, power distance (PD), and individualism). A restraint society such as Bangladesh is short-term oriented and has established corruption norms and secretive culture. There is also a perception by corporate business that the tax system as unfair and this has major consequences for the poor and the level of trust between the tax authorities and the taxpayers. This study also questions Hofstede’s model application in other developing economies with military and democracy political regimes. The major policy implications include Income Tax Ordinance, the reform of tax administration and enforcement. The novelty of this study rests in the fact that the findings may well inform local and international policymakers (e.g., World Bank, International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), and the Asian Development Bank (ADB)) regarding how to tackle tax evasion practices in lower-middle income economies like Bangladesh. Further, it fills a gap in the literature exploring tax evasion in a lower-middle income economy – in this case, Bangladesh.