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Article
Publication date: 15 October 2020

Muhammad Usman Arshad, Fahad Najeeb Khan, Muhammad Ishfaq, Muhammad Nadir Shabbir and Syed Mehmood Raza Shah

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Research limitations/implications

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.

Practical implications

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.

Originality/value

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.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

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Article
Publication date: 8 September 2020

Muhammad Arshad, Mariam Farooq, Muhammad Atif and Omer Farooq

This study aims to analyze individuals’ entrepreneurial intentions from the perspective of motivational theory and examines the effects of intrinsic and extrinsic factors…

Abstract

Purpose

This study aims to analyze individuals’ entrepreneurial intentions from the perspective of motivational theory and examines the effects of intrinsic and extrinsic factors on entrepreneurial intentions of male and female individuals.

Design/methodology/approach

Data were collected from students graduating from Pakistan’s largest university. A structural equation modeling technique was used for model testing.

Findings

Intrinsic factors such as intrinsic interest and community feeling aspiration and extrinsic factors such as perceived relative income and occupational prestige positively affect attitudes and, in turn, stimulate entrepreneurial intentions. Further, as intrinsic interest and perceived relative income scored higher among men, gender moderates those effects. Conversely, the entrepreneurial attitudes of women were primarily driven by community feeling aspiration. Notably, the positive effect of occupational prestige did not vary among men and women.

Originality/value

This paper explores the roles of intrinsic and extrinsic factors in the entrepreneurial intentions of men and women. The integration of motivational theory with gender provides insights into the determinants of entrepreneurial intentions in South Asia.

Details

Gender in Management: An International Journal , vol. 36 no. 2
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 5 February 2018

Yasir Mehmood, Kong Rong, Muhammad Khalid Bashir and Muhammad Arshad

The purpose of this paper is to empirically investigate the effect of partial quantity rationing of credit on the technical efficiency of dairy farmers in the Punjab…

Abstract

Purpose

The purpose of this paper is to empirically investigate the effect of partial quantity rationing of credit on the technical efficiency of dairy farmers in the Punjab province of Pakistan.

Design/methodology/approach

Prior to the field survey, the authors constructed a theoretical model for clear identification of partial quantity rationed dairy farmers. Data from 154 dairy farmers were collected that represented three districts of the province. The collected data were analyzed in two stages: first, the efficiency level of dairy farmers was estimated using a stochastic frontier approach; second, the authors employed an inefficiency-effects model to estimate the effect of partial quantity rationing of credit on technical efficiency.

Findings

The results revealed that education level of the household head, cross-breed and imported cattle, and electric chaff cutter, all had significant positive impacts on technical efficiency, followed by diversified sources of income. Conversely, the analysis of our key variables, interest rate on principal amount and partial quantity rationing of credit had significant negative effects on the technical efficiency of dairy farmers in selected districts of the Punjab province in Pakistan.

Originality/value

The study will be an important contribution to the existing credit constraints and technical efficiency literature and will particularly help the rural financial institutions in terms of approving the loan amount according to the actual requirements of the borrowers. The study’s findings and subsequent recommendations will be useful for policy makers in achieving the actual production level, bringing down the poverty levels and ensuring food security in the country.

Details

British Food Journal, vol. 120 no. 2
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 16 November 2018

Muhammad Arshad, Omer Farooq and Mariam Farooq

The purpose of this paper is to investigate how and when intrinsic (personal growth, affiliation, community contribution, health) and extrinsic (financial success, fame…

Abstract

Purpose

The purpose of this paper is to investigate how and when intrinsic (personal growth, affiliation, community contribution, health) and extrinsic (financial success, fame, physical appearance) goals affect individuals’ entrepreneurial intentions (EIs). The study uses goal contents theory to propose that intrinsic and extrinsic goals positively influence individuals’ EIs. The authors further argue that the collectivism moderates the effect of intrinsic and extrinsic goals on individuals EIs.

Design/methodology/approach

A survey was designed to collect data from business graduates at a university in Pakistan. The measurement model and the hypothesized model were tested using the structural equation modeling technique in MPlus 7.0.

Findings

The results suggest that all four intrinsic goals and three extrinsic goals positively affect individuals’ EIs. However, financial success and fame appear to be the most prominent determinants of EIs. Similarly, personal growth and contribution to community are strong predictors of individuals’ EIs. Conversely, health, physical appearance and affiliation motives were found to have a weaker effect on individuals’ EIs. Moreover, the results show that collectivist orientation negatively moderates the effect of intrinsic goals on individuals’ EIs, but positively moderates the effect of extrinsic goals. These results suggest that the EIs of individuals with high collectivist orientation are mainly induced by extrinsic goals, whereas intrinsic factors play a greater role in stimulating the EIs of individuals with low collectivism.

Originality/value

Extant research has paid little attention to intrinsic and extrinsic goals as determinants of individuals’ EIs. Thus, this study explores how and when intrinsic and extrinsic goals develop individuals’ EIs. This study is the first of its kind to highlight the importance of individuals’ cultural orientation (collectivism) to determine the alternative role of intrinsic and extrinsic goals in developing individuals’ EIs. In addition, this study was conducted in a different cultural setting (i.e. South Asia), which provides an opportunity to expand the boundary conditions of the phenomenon by offering an alternative perspective on this issue.

Details

Management Decision, vol. 57 no. 3
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 October 2020

Sarfraz Zaman, Muhammad Arshad, Naheed Sultana and Sharjeel Saleem

The purpose of this study is to examine the effect of family business exposure on individuals' entrepreneurial intentions (EIs). By applying the institutional framework at…

Abstract

Purpose

The purpose of this study is to examine the effect of family business exposure on individuals' entrepreneurial intentions (EIs). By applying the institutional framework at the micro level, this study proposed the mediation of three types of institutional forces (coercive, normative and mimetic) between the relationship of family business exposure and EIs.

Design/methodology/approach

Data were collected from 367 university students in Pakistan. The survey design was used for the data collection. The measurement and hypothesized models were tested using the structural equation modeling technique in Mplus 7.0.

Findings

The findings of this study revealed that family business exposure positively influenced the institutional forces (coercive, normative and mimetic) which further developed the individuals' EIs. However, family business exposure did not affect the EIs directly that showed the full mediation of institutional forces between the relationship of family business exposure and EIs.

Originality/value

This is the first study in its nature which applied institutional theory from the macro level to the micro level within the context of family business. The results revealed the institutional forces as the underpinning mechanism which explains the relationship between family business exposure and EIs.

Details

Journal of Family Business Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-6238

Keywords

Content available
Article
Publication date: 17 December 2018

Mohammad Shakhawat Hossain, Lu Qian, Muhammad Arshad, Shamsuddin Shahid, Shah Fahad and Javed Akhter

Changes in climate may have both beneficial and harmful effects on crop yields. However, the effects will be more in countries whose economy depends on agriculture. This…

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Abstract

Purpose

Changes in climate may have both beneficial and harmful effects on crop yields. However, the effects will be more in countries whose economy depends on agriculture. This study aims to measure the economic impacts of climate change on crop farming in Bangladesh.

Design/methodology/approach

A Ricardian model was used to estimate the relationship between net crop income and climate variables. Historical climate data and farm household level data from all climatic zones of Bangladesh were collected for this purpose. A regression model was then developed of net crop income per hectare against long-term climate, household and farm variables. Marginal impacts of climate change and potential future impacts of projected climate scenarios on net crop incomes were also estimated.

Findings

The results revealed that net crop income in Bangladesh is sensitive to climate, particularly to seasonal temperature. A positive effect of temperature rise on net crop income was observed for the farms located in the areas having sufficient irrigation facilities. Estimated marginal impact suggests that 1 mm/month increase in rainfall and 10°C increase in temperature will lead to about US$4-15 increase in net crop income per hectare in Bangladesh. However, there will be significant seasonal and spatial variations in the impacts. The assessment of future impacts under climate change scenarios projected by Global Circulation Models indicated an increase in net crop income from US$25-84 per hectare in the country.

Research limitations/implications

The findings of this study indicate the need for development practitioners and policy planners to consider both the beneficial and harmful effects of climate change across different climatic zones while designing and implementing the adaptation policies in the country.

Originality/value

Literature survey of the Web of Science, Science Direct and Google Scholar indicates that this study is the first attempt to measure the economic impacts of climate change on overall crop farming sector in Bangladesh using an econometric model.

Details

International Journal of Climate Change Strategies and Management, vol. 11 no. 3
Type: Research Article
ISSN: 1756-8692

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Article
Publication date: 10 June 2021

Muhammad Arshad, Sharjeel Saleem, Rabeeya Raoof and Naheed Sultana

Unlike the previous studies that examined the direct relationship between media attention on entrepreneurship (MAE) and entrepreneurship participation, this paper aims to…

Abstract

Purpose

Unlike the previous studies that examined the direct relationship between media attention on entrepreneurship (MAE) and entrepreneurship participation, this paper aims to examine the mediated link through entrepreneurial intention.

Design/methodology/approach

The cognitive theory of media provides the foundation for predictions that primary outcome of MAE is the entrepreneurial intention which in turn affects the different types of entrepreneurship participation (early-stage startup activities, new product development [NPD] activities and informal investment activities). The test of the hypothesized model relies on panel data for 2010–2015 on 40 developing and developed countries taken from the Global Entrepreneurship Monitor report of 2015.

Findings

MAE has an indirect effect on two types of entrepreneurship participation (early-stage startup activities and informal investment activities) via entrepreneurial intention, whereas there is no direct or indirect effect of MAE on NPD activities. The findings also suggest when the entrepreneurial intention is added as a mediator in the model; the direct effect of MAE on early-stage entrepreneurial activities becomes insignificant.

Originality/value

To the best of the authors’ knowledge, this is the first study in its nature which established the relationship between MAE and entrepreneurial intention. In addition, this study also explained the mediation mechanism between the relationship of MAE and entrepreneurship participation by using the panel data.

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Article
Publication date: 13 June 2019

Sadia Afzal, Muhammad Arshad, Sharjeel Saleem and Omer Farooq

The purpose of this paper is to explain the mediational mechanisms in the relationship of perceived supervisor support (PSS) with turnover intention (TI) and task performance (TP).

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1036

Abstract

Purpose

The purpose of this paper is to explain the mediational mechanisms in the relationship of perceived supervisor support (PSS) with turnover intention (TI) and task performance (TP).

Design/methodology/approach

Data were collected through questionnaires from the academic staff of Pakistani universities. The theoretical model was tested using data collected from 304 respondents by using structural equation modeling technique. Mediation analysis was performed with 5,000 bootstraps samples.

Findings

The results revealed that PSS affected TI negatively through the mediation of self-efficacy. Conversely to this, PSS influenced TP positively through the mediation of self-efficacy. In addition, the results also showed the direct effect of PSS on employees’ TP.

Practical implications

The results of this study suggest that the supervisor must provide adequate support to the academic staff, which helps them to develop their self-efficacy. Self-efficacy is helpful for the employees to reduce their TI and to improve their TP.

Originality/value

This study is the first of its nature which explained the direct and indirect effects of PSS on TI and TP by using the framework of social learning theory and social exchange theory simultaneously.

Details

Journal of Management Development, vol. 38 no. 5
Type: Research Article
ISSN: 0262-1711

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Article
Publication date: 14 October 2021

Muhammad Arshad, Neelam Qasim, Omer Farooq and John Rice

This study aims to explore mediational mechanisms and conditions by which empowering leadership leads to positive outcomes at the employee level. Using social identity…

Abstract

Purpose

This study aims to explore mediational mechanisms and conditions by which empowering leadership leads to positive outcomes at the employee level. Using social identity theory (SIT) as a foundation, the authors present an integrated moderated mediation model to explain the interactive effects of empowering leadership and leaders' prototypicality on employees' work engagement through the mediation of organizational identification (OI).

Design/methodology/approach

The research model was tested using multilevel nested data obtained from 634 employees working in 133 departments (teams) in the service sector of Pakistan.

Findings

The results reveal that empowering leadership influences work engagement through the mediation of OI. However, leader prototypicality has emerged as an important moderating condition for these relationships because, at a lower level of leader prototypicality, the positive effect of empowering leadership may diminish.

Practical implications

The results of this study suggest that organizations should promote empowering leadership to increase their employees' OI and work engagement. Furthermore, it is suggested that leader prototypicality is important along with empowering leadership to inculcate positive behavior among employees.

Originality/value

This is the first study of its nature, which used SIT to explain the indirect effect of empowering leadership on employees' work engagement via OI. Furthermore, the bounding condition of leader prototypicality is also studied for the first time in the context of the indirect relationship between empowering leadership and employees' work engagement via OI. The authors note that the novel unique findings of this study have the potential to open additional further avenues of research in the field of empowering leadership.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 7 May 2021

Syed Mehmood Raza Shah, Qiang Fu, Ghulam Abbas and Muhammad Usman Arshad

Wealth Management Products (WMPs) are the largest and most crucial component of China's Shadow banking, which are off the balance sheet and considered as a substitute for…

Abstract

Purpose

Wealth Management Products (WMPs) are the largest and most crucial component of China's Shadow banking, which are off the balance sheet and considered as a substitute for deposits. Commercial banks in China are involved in the issuance of WMPs mainly to; evade the regulatory restrictions, move non-performing loans away from the balance sheet, chase the profits and take advantage of yield spread (the difference between WMPs yield and deposit rate).

Design/methodology/approach

In this study, the authors investigate what bank related characteristics and needs; influenced and prompted the issuance of WMPs. By using a quarterly panel data from 2010 to 2019, this study performed the fixed effects approach favored by the Hausman specification test, and a feasible generalized least square (FGLS) estimation method is employed to deal with any issues of heteroscedasticity and auto-correlation.

Findings

This study found that there is a positive and significant association between the non-performing loan ratio and the issuance of WMPs. Moreover, profitability and spread were found to play an essential role in the issuance of WMPs. The findings of this study suggest that WMPs are issued for multi-purpose, and off the balance sheet status of these products makes them very lucrative for regulated Chinese commercial banks.

Research limitations/implications

Non-guaranteed WMPs are considered as an item of shadow banking in China, as banks do not consolidate this type of WMPs into their balance sheet; due to that reason, there is no individual bank data available for the amount of WMPs. The authors use the number of WMPs issued by banks as a proxy for the bank's exposure to the WMPs business.

Practical implications

From a regulatory perspective, this study helps regulators to understand the risk associated with the issuance of WMPs; by providing empirical evidence that Chinese banks issue WMPs to hide the actual risk of non-performing loans, and this practice could mislead the regulators to evaluate the bank credit risk and loan quality. This study also identifies that Chinese banks issue WMPs for multi-purpose; this can help potential investors to understand the dynamics of WMPs issuance.

Originality/value

This research is innovative in its orientation because it is designed to investigate the less explored wealth management products (WMPs) issued by Chinese banks. This study's content includes not only innovation but also contributes to the existing literature on the shadow banking sector in terms of regulatory arbitrage. Moreover, the inclusion of FGLS estimation models, ten years of quarterly data, and the top 30 Chinese banks (covers 70% of the total Chinese commercial banking system's assets) make this research more comprehensive and significant.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

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