Search results

This study aims to examine the key determinants of corporate social responsibility (CSR) disclosure of all listed banks that operate their function in an emerging market, Pakistan.

This study applied the principles of systems-oriented theories such as legitimacy, stakeholder and agency theory. The hypothesis is linking the bank’s social disclosure and its determinants are developed. The relevant data was gathered from the bank’s annual reports and Pakistan Stock Exchange from 2008 to 2018. Further, governance attributes and performance measures are used as the predictor variable and the CSR score as the predicted variable. This study applied panel data analysis on the sampled banks to examine the proposed hypothesis for empirical estimation.

This study’s inclusive results confirm that the hypothesized determinants of board size, foreign directors on board and female directors on board positively impact the CSR disclosure potential. Board size significantly explains the CSR disclosure in all bank samples. The determined performance measures, profitability and liquidity show a significant positive relationship with CSR disclosure except for few exceptions.

This study’s results lack generalizability due to its unique setting; future researchers can extend the research scope in national–international settings and a regional context.

This study enriches the literature on CSR disclosure determinants and is relevant to practice in an emerging context. It can be helpful from a policy perspective; institutions (bodies) that regulate banks should recognize the governance and performance aspects essential to enhancing CSR disclosure and enhancing the bank’s performance hence value.

This research offers empirical evidence that sheds light on the key governance attributes and performance measures that partially affect CSR disclosure and its extent. In doing so, this study’s findings contribute to the literature significantly, along with regulators, shareholders, deposit holders, individual–institutional investors.

This study aims to explore the firm's specific, opacity and economy-specific variables to explain the variation in South Asian market returns and indicate that how the difference in adoption of accounting standards refers to the effect of the movement in stock returns.

Following the scope of the study, factor analysis, fixed effect, Driscoll and Kraay standard errors (DKSE) and Panel Corrected standard error (PCSE) models have been inducted to determine the influence of firm-specific, opacity and economy-specific variables on stock returns. The sample of study comprises 1,885 firms from five countries located in the South Asia region with the period 2005–2018. To ensure the reliability of data, firm-specific data have been collected from DataStream International, while an international country risk guide was used to compile the data for economy-specific variables.

This study concluded that firm-specific variables showed a consistent and significant association with stock return except for beta, accrual and momentum while earning aggressiveness was the only factor in opacity measure to capture the variation in stock return. The implementation of international accounting standards seemed to be significant and proves to be helpful to enhance the quality of accounting information.

The limitations of this study comprised the estimation error by avoiding the firm's observations with negative equity in case of earning opacity and majority (more than 50%) of the observation belongs to a single market as India out of final sample which leads to having biasedness in findings.

This study helps the investors to consider the firms with smaller market capitalization and lower book to market ratio and avoid the momentum strategy under firm specific factors. Moreover, earning aggressiveness under opacity domain capture the variation in stock return and must be considered while investing funds.

The influence of adoption of international accounting standards along with firm and economy specific variable in South Asian Equity Markets return was the major contribution. Moreover, the inclusion of DKSE and PCSE models to examine the relevance of the financial and economic informational environment was also considered as a part of major contribution of this study.

This study examines the relationship between green intellectual capital (GIC) and competitive advantage (CA) and proposes the moderating role of corporate philanthropy types (cash, in-kind and both) during the COVID-19 pandemic. In particular, this study investigates the types of corporate philanthropy, strengthening the link between GIC and CA for Chinese listed firms during a pandemic.

Cross-sectional data were collected from 248 chief executive officers (CEOs) of Chinese firms listed on the Shanghai Stock Exchange through a structured questionnaire. Regression analysis was employed to test the proposed hypotheses.

The findings reveal that all types of GIC positively influence a firm's CA. Furthermore, all three types of philanthropy – cash, in-kind and both – moderate the relationship between GIC and CA. However, the intensity of moderation was higher in the case of in-kind philanthropy than in the other two types.

To the best of the authors' knowledge, this is the first empirical study to examine the relationship between GIC (considering its three components: human, structural and relational capital) and CA in China. The study finds different types of philanthropy as moderating variables to better explain the relationship between GIC and CA. Further, it contributes to a new line of research that aims to study philanthropic aspects connected to the GIC debate.

This study aims to investigate the role of dynamic capabilities (DCs) in the financial performance of the small and medium enterprises (SMEs) during COVID-19. Furthermore, it took chief executive officer gender to moderate the relationship between DCs and financial performance.

This study used the survey approach to collect the data. Regression analysis was used on 563 responses to test the proposed hypotheses.

The results showed that DCs have a significant positive effect on the SME’s operating level and revenues. Moreover, it also moderates the DCs and financial performance during COVID-19. The results revealed that firms that used the DCs during COVID-19 not only survive during the COVID-19 tough time but also enjoyed a decent revenue level.

To the best of the authors’ knowledge, this study is the first study to establish the link between DCs and SMEs operating and revenue level during the COVID-19 pandemic in Pakistani settings.

Shadow banking has been evolving rapidly in China, with banks actively using wealth management products (WMPs) to evade regulatory restrictions. These products are the largest constituent of China's shadow banking sector. A large number of these products are off-balance-sheet and considered a substitute for bank deposits. China's banking sector, especially the small and medium-sized banks (SMBs), uses these products to avoid regulatory restrictions and sustainability risk in the deposit market.

This study empirically examined how banks in China, specifically SMBs, utilize these products on a short and long-run basis to manage and control their deposit levels. This study utilized a quarterly panel dataset from 2010 to 2019 for the top 30 Chinese banks, by first implementing a Panel ARDL-PMG model. For cross-sectional dependence, this study further executed a cross-sectional augmented autoregressive distributive lag model (CS-ARDL).

Under regulations avoidance theory, the findings revealed that WMPs and deposits have a stable long-run substitute relationship. Furthermore, the WMP–Deposit substitute relationship was only significant and consistent for SMBs, but not for large four banks. The findings further revealed that the WMP–Deposit substitute relationship existed, even after the removal of the deposit rate limit imposed by the People's Bank of China (PBOC) to control the deposit rates.

The individual bank-issued WMPs' amount data is not available in any database. Therefore, this study utilized the number of WMPs as a proxy for China's banking sector's exposure to the wealth management business.

This research helps policymakers to understand the Deposit–WMP relationship from the off-balance-sheet perspective. During the various stages of interest rate liberalization, banks were given more control to establish their deposit and loan interest rates. However, the deposit rates are still way below the WMP returns, making WMPs more competitive. This research suggests that policymakers should formulate a more balanced strategy regarding deposit rates and WMPs returns.

This study contributes to the existing literature on China's shadow banking by concentrating on the WMPs. This research represents one of the few studies that analyze regulatory arbitrage in terms of the WMP–Deposit relationship. Moreover, the implementation of CS-ARDL panel data models and multiple data sources makes this study's findings more reliable and significant.

The purpose of this paper is to empirically capture the impact of a chief executive officer’s (CEO) personal and organizational characteristics on firm performance in the context of a developing country and to explore whether capital structure mediates the relationship between CEO characteristics and firm performance.

In order to test the hypothesized model, CEO duality, tenure and personal characteristics (age, gender and education) were taken as explanatory variables to study their impact on firm performance. Data were collected from 179 Pakistani companies from 2009–2015. The collected data were processed via panel data regression analysis under fixed effect assumptions.

Results show that CEO duality has a negative impact on firm performance and that a CEO with a dual role is more inclined toward debt financing. Moreover, a CEO with a longer tenure tends to be opportunistic and prioritize his/her personal interest while making strategic financial decisions, thus creating agency costs for the firm. Furthermore, CEO characteristics like age, gender and education have significant effects on firm financial decisions and firm performance. Finally, the debt and equity ratio partially mediates the link between CEO characteristics and firm performance.

The findings of this study have limited generalizability due to the specific nature of the sample characteristics.

To the best of the authors knowledge, this study is the first to explore the impact of CEO characteristics on capital structure and firm performance. This work is also the first to explore the mediating role of capital structure in the relationship between CEO characteristics and firm performance by using Pakistani data.

This study aims to investigate the perspective of corporate philanthropy during the coronavirus disease 2019 (COVID-19) in China for firms with various levels of corporate social responsibility (CSR). Specifically, the study appraises the impact of the COVID-19 pandemic on the stock returns and sustainable development of Chinese-listed companies and determines the likelihood of paying donations vis-à-vis firm reputation.

The study used data from 117 Chinese-listed firms engaged in philanthropy during the COVID-19 pandemic. The authors also utilized the stock returns and cash donation data, and owing to the cross-sectional data and continuous nature of dependent variables, they employed the ordinary least squares regression to test the research hypotheses.

The results show that irresponsible actions have a positive relationship with donations. The study particularly reveals that irresponsible firms have significant negative abnormal returns during the first wave of the COVID-19 pandemic.

To the best of our knowledge, this is the first empirical study to explore the perspective of corporate philanthropy during the COVID-19 pandemic for companies with different CSR levels. This study contributes to the empirical research on CSR and provides insights for managerial-cum-financial decisions to encourage managers of irresponsible firms to pursue philanthropic behaviors after crisis events.

This study develops a conceptual framework to examine (1) whether global retailers' CSR actions in the form of in-kind charitable contribution affect consumers' attribution of CSR to intrinsic motives, (2) whether consumers' attribution of CSR to intrinsic motives affects brand-self connection and (3) whether the cultural factors of self-transcendence and conservation moderate the relationship between consumers' attribution of CSR to intrinsic motives and brand-self connection.

Data are collected from two culturally diverse countries, the US and China, each of which managed the pandemic in different ways. Before hypothesis testing, the invariance of measures is established. To measure differences between the groups, a multi-group analysis is conducted.

Global retailers' in-kind charitable contribution is a significant drivers of consumers' attribution of CSR to intrinsic motives, and attribution of CSR to intrinsic motives has a positive effect on consumer brand-self connection. Both of the cultural values, self-transcendence and conservation, moderate the relationship between attribution of CSR to intrinsic motives and brand-self connection. Self-transcendence is a strong moderator in China, whereas conservation moderates strongly in the US. All of the relationships differ significantly between the groups (US versus China).

To the best of our knowledge, this is the first study to investigate empirically the role of in-kind charitable contribution in creating an attribution of CSR to intrinsic motives that eventually leads to strong brand-self connection in the COVID-19 context. The study provides novel insights into how consumer behavior differs across two significantly different cultures with regard to COVID-19-related CSR. The findings help international marketers manage uncertainties and crisis and to design their CSR-based marketing programs and develop positioning strategies across cultures.

The purpose of this study is to explore the applications of 3D printing in space sectors. The authors have highlighted the potential research gap that can be explored in the current field of study. Three-dimensional (3D) printing is an additive manufacturing technique that uses metallic powder, ceramic or polymers to build simple/complex parts. The parts produced possess good strength, low weight and excellent mechanical properties and are cost-effective. Therefore, efforts have been made to make the adoption of 3D printing successful in space so that complex parts can be manufactured in space. This saves a considerable amount of both time and carrying cost. Thereof the challenges and opportunities that the space sector holds for additive manufacturing is worth reviewing to provide a better insight into further developments and prospects for this technology.

The potentiality of 3D printing for the manufacturing of various components under space conditions has been explained. Here, the authors have reviewed the details of manufactured parts used for zero-gravity missions, subjected to onboard international space station conditions and with those manufactured on earth. Followed by the major opportunities in 3D printing in space which include component repair, material characterization, process improvement and process development along with the new designs. The challenges like space conditions, availability of power in space, the infrastructure requirements and the quality control or testing of the items that are being built in space are explained along with their possible mitigation strategies.

These components are well comparable with those prepared on earth which enables a massive cost saving. Other than the onboard manufacturing process, numerous other components as well as a complete robot/satellite for outer space applications were manufactured by additive manufacturing. Moreover, these components can be recycled onboard to produce feedstock for the next materials. The parts produced in space are bought back and compared with those built on earth. There is a difference in their nature, i.e. the flight specimen showed a brittle nature, and the ground specimen showed a denser nature.

This review discusses the advancements of 3D printing in space and provides numerous examples of the applications of 3D printing in space and space applications. This paper is solely dedicated to 3D printing in space. It provides a breakthrough in the literature as a limited amount of literature is available on this topic. This paper aims at highlighting all the challenges that additive manufacturing faces in the space sector and also the future opportunities that await development.

The purpose of this study is to investigate the level of understanding of Muslim students about Istihalah. It compares the understanding of students of various departments about Istihalah and changes in their knowledge after a workshop.

The study is conducted in two phases. In the first phase, a comparison is made between students of three departments: Islamic studies, business studies and food sciences. These departments were selected using purposive sampling. In the second phase, students with a lack of awareness about Istihalah were given a one-day training workshop on the concept of Istihalah. Data were collected through a personally administrated questionnaire.

The results of the first phase revealed that students from business studies and food sciences were not familiar with the concept and application of Istihalah, whereas students from Islamic studies were well-aware of it. The findings of the second phase revealed that after the provision of training (workshop), students were at par with the students of Islamic studies. All the students were further willing to know about Istihalah and its implications in their personal and professional lives.

The main contribution of this study is to highlight the area where information about Islamic concepts should be disseminated and applied.