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It is consensus among Muslim social scientists that religion as an informal institution plays a very important role in building the socio-economic structure of an Islamic state. The transmission of religiosity across generations has important economic implications for a family in particular and a society in general. The Tawhidi methodology is applied for a theoretical model and for the development of the model. The purpose of this study is to determine the transmission of religious capital in an Islamic society.

This study by using an index of religiosity for both parents and their offspring has explored the causal relationship between the religiosity across generations. By using three-tier analytical strategies, i.e. zero-order regression, model with control variables and model with mediating variables, this study has regressed two models for each control and mediating variable.

The findings for the core variable in all models confirmed the hypothesis of the study that parental religious traits are important determinants of the religiosity of their offspring. For the model of control variables, the variables of area, gender and age of the respondent along with the parental religious index are found to be significant with appropriate signs. For the model with mediating variables, only the variable of parental sharing of religious values along with the parental religious index are found to impact the religiosity of the offspring. Therefore, the nutshell of the findings is that the religious orientation of an offspring is highly influenced by the religious denominations of the parents. The formation of the religious capital is a continuous process and the ultimate result of divine knowledge.

Data at the national level are not collected for this purpose by governmental organizations in a country like Pakistan because of shortage of funds. Therefore, data are collected by the authors.

This study will provide guidance to policy-makers for the formulation of their policies.

Intergenerational transmission of religious capital plays a very important role in the moral development of an ideal society.

This is an original effort and is conducted for the first time in Pakistan.

The objective of the study is to explore the determinants of savings and their relative importance in Saudi Arabia.

The stationarity of the data has been tested using augmented Dickey–Fuller (ADF) tests. Autoregressive distributed lag (ARDL) technique has been applied to establish the long run and short run relationships. Stability of savings function has been tested by applying CUSUM and CUSUMSQ techniques.

Results of ARDL identify the important factors affecting savings behaviour in Saudi Arabia. According to the results, the growth rate of GDP, the interest rate, foreign direct investment (FDI) and budget surplus positively affect savings with the last two having the most influence on domestic savings. The coefficient of the dependency ratio is negative in conformity with the theory. Similarly, the coefficient of the inflation rate is also negative.

There is limited availability of data since only 41 years’ annual data are available.

In the light of the results, it is recommended that in order to increase savings, the government should adopt policies to attract FDI, increase the GDP growth rate and decrease the dependency ratio and inflation.

Government needs to discourage larger family sizes to encourage savings in the light of the result of negative impact of the dependency ratio on savings. In order to decrease the dependency ratio, more family members especially women should be encouraged to participate in the labour market.

There is a scarcity of research for Saudi Arabia on the critical issue of determinants of domestic savings. This is a pioneering study exploring important determinants of savings in Saudi data.

The peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-08-2021-0493.

The objective of the study is to determine the factors influencing the behavior of investor in Saudi Stock Market.

The paper uses correlation analysis, factor analysis, reliability and multiple regression analysis on the primary data collected from 125 investors in Saudi Stock Market through a questionnaire distributed randomly.

The results indicate that the factors like past performance of the stocks, financial statements, firm status in industry, the reputation of the firm, and expected corporate earnings have significant influence on the behavior of investors. The factor of the image that a certain company has built for itself over the years on the basis of its financial practices is a large influencer of investor decisions as compared to advocate recommendation factors. The investment behavior is not significantly influenced by gender or age; however, it is significantly influenced by educational qualification, professional experience and investment volume.

This paper limits itself to study the factors that influence the behavior of investors. However, it does not address the issue of investor overconfidence and its implications for Saudi Stock Market.

This research provides a road map for the investors interested in making their investment decisions by understanding the most influencing factors.

This research has social implications for government agencies to delineate the required legislation to regulate the investors and also to increase market efficiency. The results show that investors are strongly affected by signals from the government.

This research is an original contribution toward the behavioral finance field in Saudi Arabia and can be used as a reference material for investors, companies and government policymakers in Saudi Arabia. This study incorporates investors' individual characteristics and explores factors that influence investor behavior unlike some previous studies using Saudi data.

Since the pristine works of Schultz (1961) and Becker (1964, 1975), the concept of intergenerational transmission has constantly been in the front line of discussion among the social scientists to divulge the sources and channels through which diffusion of socio-economic status can take place across the generations. The purpose of this paper is to explore the intergeneration links via monetary channels through decomposition technique.

Using a sample of 613 households selecting through systematic sampling from Multan district (Pakistan). Making a three tier analyses, i.e. simple, sequential and double decomposition, the findings of the models support the hypothesis of the study that children of high-income parents also fall in high-income groups.

The simple decomposition analysis using education as the pathway factor reveals that parental income is pivotal in determining the education and ultimately the level of their child’s income. The sequential analysis incorporates occupation and depicts a positive association between the offspring education and occupation. In the double decomposition analysis, the direct component reveals that even among those children with the same level of education, higher parental income is linked with the better occupational achievements, whereas indirect component explains the impact of parental income on occupation via education of the children. In other words, it explains the degree to which children with higher family income acquire more education and consequently get better jobs.

In Pakistan like the other developing countries nationwide surveys are not conducted at the government level.

This study is providing the guideline to the policy makers for the formulating their policies for developing and managing the human capital.

The findings of this study are useful for reducing the inequality in the society.

This is an original and first time it is going to be conducted in a country like Pakistan

The purpose of this paper is to examine whether a long-run stable money multiplier exists in Kazakhstan. It also investigates whether different episodes of currency shocks, including the financial crisis and recession of 2008–2010, have affected the working of the money multiplier in Kazakhstan.

The long-run multiplier is tested employing three cointegration tests: Engle–Granger (1987), Phillips–Ouliaris (1990) and Johansen and Juselius (1990).

The results of cointegration and coefficient restrictions tests are consistent with the money multiplier when broad money (M2 and M3) is used rather than when narrow money (M1) is used. The relationship between broad money and monetary base is structurally stable when examined on the basis of a dynamic (an error-correction) model. However, the M2 multiplier performs better than the M3 multiplier.

This paper is restricted to testing a mechanistic version of the money multiplier and its stability using both narrow (M1) and broad money (M2 and M3) supplies. Thus, the paper focusses on the money view of the multiplier rather than the credit view of the multiplier.

One implication that emerges from the findings of this paper is that the National Bank of Kazakhstan can control M2 by controlling the monetary base, and hence the latter can serve as an indicator for monetary policy.

The validity of the money multiplier implies that monetary policy can be conducted to control the money supply and the provision of bank credit to private sector to stabilize economic activity, thereby leading towards social stability in the economy as well.

In addition to offering a coherent survey of the literature on the standard money multiplier, this paper is a first attempt to find a stable money multiplier for Kazakhstan.

It is consensus among the social scientist that education plays a vital role in human capital formation. The purpose of this paper is to explore the issue of education transmission across generations.

Primary data were collected from 613 households which were selected by applying the systematic random sampling technique. By using education as a continuous variable, the human capital base model has been estimated. These models have been estimated by applying the OLS technique.

The study finds persistence in education across generations and inequality in educational achievements. Mother’s education is found to be more important for daughters in the gender analysis but for combined effect father’s education has been observed stronger than mothers. The models with interaction terms have shown a stronger son-father and daughter-mother association in educational transmission. Moreover, findings exhibit that females are more educated as compared to males.

This study is providing a new dimension to the social scientist about the importance of education especially in a developing country like Pakistan.

The results of this study provide the guidelines to the policy makers and giving them the direction about the incremental change of the human capital through the intergenerational transmission mechanism.

The findings of this study can be used for upgrading of the social set up of a developing country like Pakistan.

This is an original effort and the first time this type of study is conducted in Pakistan.

To find out the behaviour of firms with objectives of Islamic Shariah when a number of techniques are working simultaneously with the different productive efficiencies.

This is a theoretical paper based on the modified model of layers of techniques which was initially developed by Professors W. Leontief and P. N. Mathur and tries to evaluate the impact of entrance of new techniques on obsolescence in the ethical‐moral cum economic framework of Islamic political economy system.

This study suggests wastage of the resources because of their economic obsolescence and on the cost of future generation is not allowed in the system of Islam and ultimately decrease the social welfare level.

A dynamic cum marginal input‐output table can be constructed on the basis of this framework and formulate the socio‐economic policy.

This research is beneficial to the researchers, policy makers and social scientists for the enhancement of the level of social welfare through this model.

The policy approach in Pakistan with regard to combating the informal economy has remained quite myopic and skewed in its reliance on measures informed by the rational economic-actor theory as opposed to the social-actor approach. Thus, this study attempts to evaluate and synthesise the two alternative policy approaches and formulate a more theoretically integrative understanding of the subject.

The authors gather data from 600 micro-entrepreneurs operating in the retail and wholesale sector of Lahore, Pakistan, which is then analysed using an ordered logit regression technique.

In contrast to more developed countries, the finding here is that higher perceived penalties have a highly significant and positive impact on the level of formality of Pakistani micro-entrepreneurs. The perceived risk of detection, meanwhile, has only a moderately significant impact on the micro-entrepreneurs level of formality. Likewise, the level of vertical and horizontal trust has a positive but moderately significant impact on the level of formality. Nonetheless, both the vertical and horizontal trust exhibit a very significant moderating effect on the relationship between the use of penalties and the level of formality, that is, the higher the level of trust that the micro-entrepreneurs have in the state and other businesses, the lower is the effectiveness of punitive measures.

Deterrence is an effective way to enhance the level of formality in the case of the Pakistani context. Nonetheless, the authors imply that without building trust, this overreliance on punitive and detective measures can actually be counter-productive. A combined and congruent (not sequential) use of voluntary compliance measures is thus warranted.

It is a unique attempt to evaluate and synthesise the global policy theorisations in a non-mainstream and antagonistic climate, such as Pakistan.

Drawing upon protection motivation theory and service-dominant-logic, the authors develop a model, which examines the influence of perceived psychological risk and social media involvement (SMI) on customer-brand-engagement (CBE), brand co-creation and behavioral intention during COVID-19 outbreak in the tourism context. The current research also explores the mediating effect of CBE, and moderating role of tourism-based threat/coping appraisal in the proposed associations.

To investigate such issues, the authors deploy a sample of 320 tourism consumers by adopting partial least squares-structural equation modeling or (PLS-SEM).

PLS-SEM findings revealed that SMI positively impacts tourism-CBE. Secondly, results revealed the customer brand engagement's significant-positive effect on brand co-creation and behavioral intent. Third, results showed the social media's and psychological risk's indirect impact on co-creation and behavioral intent, as mediated through customer brand engagement. Fourth, results exposed a significant/negative moderating effect of threat appraisal and significant/positive moderating role of coping appraisal in projected relationships.

Given the study's focus on pandemic-based SMI, CBE and co-creation, the authors contribute to the existing tourism marketing literature, which also generates plentiful avenues for further research, as delineated.

This research facilitates tourism brand managers to better understand the drivers of CBE and paves the way for managers to develop CBE and threat/coping strategies during pandemic.

Despite the increasing understanding of social media, CBE and co-creation in tourism, limited remains identified regarding the association of these, and associated, factors during pandemic, as thereby explored in the current research.