Search results

1 – 10 of 22
Article
Publication date: 15 October 2021

Muhammad Mushafiq, Shamsa Khalid, Muhammad Khalid Sohail and Tayyebah Sehar

The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial…

Abstract

Purpose

The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial literacy and objective financial literacy.

Design/methodology/approach

To examine the relationship, two investment choices were given to 256 subjects from Pakistan. Questionnaire had total 20 questions for measuring five variables. To review this nexus, discriminant analysis was used as to explore the depth of the nexus that is the ability of the variables to predict the investment choices.

Findings

This study establishes the findings that Investment choices are guided by risk aversion, risky investment intentions, financial literacy (subjective and objective) and cognitive abilities. The risk aversion has negative relation to investment choices and other variables depict positive relationship to with investment choices.

Practical implications

This study provides a new and useful understanding into the existing literature on investment choices. The results are significant as the cognitive abilities show a positive contribution to the investment choices. This is point of significance as the portfolio managers and advisors would get help in regards of advising investments as they are aware what factors impact the investment choices.

Originality/value

This study is novel in its nature to evaluate investment choices using the cognitive ability alongside risk attitudes and financial literacy.

Details

Journal of Economic and Administrative Sciences, vol. 39 no. 4
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 29 September 2023

Javid Iqbal, Muhammad Khalid Sohail and Muhammad Kamran Malik

This study aims to predict the financial performance of Islamic banks with sentiments of management from the textual information in annual reports.

Abstract

Purpose

This study aims to predict the financial performance of Islamic banks with sentiments of management from the textual information in annual reports.

Design/methodology/approach

The study uses data from 33 Islamic banks in six Islamic countries from 2006 to 2020. The authors estimate the model using the system GMM because it helps dealing with endogeneity problem, which are inherent in panel data.

Findings

The findings of the study reveal that there is a strong relationship between the sentiment expressed by management in annual reports and the current (future) financial performance of Islamic banks. The higher the positive sentiments of management, the better financial performance. In addition, the study also suggests that negative sentiments using term frequency-inverse document frequency is linked to a decrease in banks’ financial performance.

Research limitations/implications

The study does not present the Islamic view on sentiment analysis in the context of Islamic scriptures due to the unavailability of a relevant dictionary.

Practical implications

The findings of the study suggest that developing accurate models with the help of textual information for performance prediction of Islamic banks help shareholders, regulators and policymakers avoid devastating events. Using textual information may also help reduce the information asymmetry between the management and shareholders, which may lead to more efficient bank supervision. The study can also help investors evaluate their prospective investments in the Islamic bank.

Originality/value

To the best of the authors’ knowledge, this study is the first of its kind that uses management sentiments for performance prediction of the Islamic banking sector. It may add a valuable contribution to the existing literature.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 16 no. 6
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 7 May 2020

Muhammad Naveed, Shoaib Ali, Kamran Iqbal and Muhammad Khalid Sohail

The purpose of this study is to examine the role of financial and nonfinancial information in determining individual investor's investment decisions by analyzing the mediating…

2141

Abstract

Purpose

The purpose of this study is to examine the role of financial and nonfinancial information in determining individual investor's investment decisions by analyzing the mediating effect of corporate reputation.

Design/methodology/approach

The approach of this study is deductive; therefore, the quantitative strategy is used for data collection. Primary data are collected from individual investors actively involved in stock trading at Pakistan Stock Exchange (PSX). Structural equation modeling is used to assess structural relationships.

Findings

The key findings of this study posit that financial and nonfinancial information positively influence an individual investor's investment decision. This study also provides empirical evidence confirming the mediating role of corporate reputation. Categorically, the findings indicate that financial and nonfinancial information remain significant to build perceived corporate reputation and influence investor's investment decisions.

Practical implications

he proposed model presents novel insight into the individual investor's investment decision in the context of Pakistan. The findings of this study remain robust for firms listed on the stock exchange and individual investors involved in stock trading. The results of this study are substantial to individual investor's and broker for making informed financial choices. Moreover, the firms listed on the PSX can use the findings to establish improved corporate reputation through reporting detailed financial and nonfinancial information.

Originality/value

Studies based on subjective measures in finance are lacking. This study contributes to the existing literature of behavioral finance by analyzing variations in investor's investment decisions explained by informational factors. The proposed model testifies the mediating role of corporate reputation in guiding investor's investment decisions, which has been overlooked by past studies. Therefore, this study seeks to fill this gap in the context of the PSX.

Details

South Asian Journal of Business Studies, vol. 9 no. 2
Type: Research Article
ISSN: 2398-628X

Keywords

Article
Publication date: 17 January 2022

Muhammad Mushafiq, Syed Ahmad Sami, Muhammad Khalid Sohail and Muzammal Ilyas Sindhu

The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation…

Abstract

Purpose

The main purpose of this study is to evaluate the probability of default and examine the relationship between default risk and financial performance, with dynamic panel moderation of firm size.

Design/methodology/approach

This study utilizes a total of 1,500 firm-year observations from 2013 to 2018 using dynamic panel data approach of generalized method of moments to test the relationship between default risk and financial performance with the moderation effect of the firm size.

Findings

This study establishes the findings that default risk significantly impacts the financial performance. The relationship between distance-to-default (DD) and financial performance is positive, which means the relationship of the independent and dependent variable is inverse. Moreover, this study finds that the firm size is a significant positive moderator between DD and financial performance.

Practical implications

This study provides new and useful insight into the literature on the relationship between default risk and financial performance. The results of this study provide investors and businesses related to nonfinancial firms in the Pakistan Stock Exchange (PSX) with significant default risk's impact on performance. This study finds, on average, the default probability in KSE ALL indexed companies is 6.12%.

Originality/value

The evidence of the default risk and financial performance on samples of nonfinancial firms has been minimal; mainly, it has been limited to the banking sector. Moreover, the existing studies have only catered the direct effect of only. This study fills that gap and evaluates this relationship in nonfinancial firms. This study also helps in the evaluation of Merton model's performance in the nonfinancial firms.

Details

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

Keywords

Article
Publication date: 20 May 2021

Muhammad Mushafiq, Muzammal Ilyas Sindhu and Muhammad Khalid Sohail

The main purpose of this study is to examine the relationship between credit risk and financial performance in non-financial firms.

Abstract

Purpose

The main purpose of this study is to examine the relationship between credit risk and financial performance in non-financial firms.

Design/methodology/approach

In order to test the relationship between Altman Z-score model as a credit risk proxy and the Return on Asset and Equity as indicator for financial performance with control variables leverage, liquidity and firm size. Least Square Dummy Variable regression analysis is opted. This research's sample included 69 non-financial companies from the Pakistan Stock Exchange KSE-100 Index between 2012 and 2017.

Findings

This study establishes the findings that Altman Z-score, leverage and firm size significantly impact the financial performance of the KSE-100 non-financial firms. However, liquidity is found to be insignificant in this study. Altman Z-score and firm size have shown a positive relationship to the financial performance, whereas leverage is inversely related.

Practical implications

This study brings in a new and useful insight into the literature on the relationship between credit risk and financial performance. The results of this study provide investors, businesses and managers related to non-financial firms in the KSE-100 index with significant insight about credit risk's impact on performance.

Originality/value

The evidence of the credit risk and financial performance on samples of non-financial firms has not been studied; mainly it has been limited to the banking sector. This study helps in the evaluation of Altman Z-score's performance in the non-financial firms in KSE-100 index as well.

Details

Journal of Economic and Administrative Sciences, vol. 39 no. 1
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 15 June 2020

Muhammad Zulfiqar, Khalid Hussain, Muhammad Usman Yousaf, Nadeem Sohail and Sadeen Ghafoor

The purpose of this paper is to examine the impact of Chinese listed family firms on lean innovation strategies. Additionally, the authors also examined the moderating role of CEO…

Abstract

Purpose

The purpose of this paper is to examine the impact of Chinese listed family firms on lean innovation strategies. Additionally, the authors also examined the moderating role of CEO compensation on the family ownership and lean innovation strategies relationship.

Design/methodology/approach

Data is obtained from CSMAR database about Chinese family firms listed at Shenzhen Stock Exchange and Shanghai Stock Exchange. Panel data comprising of firm year observations from 2007 to 2016 is analyzed using STATA.

Findings

Family firms are proactive towards research and development investment (innovation input) as well as towards patent applications (innovation output). Moreover, family firms show propensity towards patent applications and towards converting their R&D investment into granted patent applications. CEO compensation negatively moderates the nexus between family firms and lean innovation which seriously needs to be addressed to reduce agency costs.

Research limitations/implications

The study has focused on Chinese market only. The study is useful for policy makers to address the serious concerns identified in the conclusion section, i.e. effectiveness of CEO compensation in addressing the lean innovation strategies in emerging economy like that of China.

Originality/value

Given the usually considered conservative approach of family firms towards innovation, this is the first study which has tested the moderating role of CEO compensation on family firms and lean innovation relationship in an emerging economy. This study is unique because it provides a detailed analysis of lean innovation process by splitting the process into different stages. The negative moderating impact of CEO compensation raises new concerns to resolve agency conflicts.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 16 August 2019

S. Bilal, Muhammad Sohail and Rahila Naz

The purpose of this paper is to highlight the studies of momentum and transmission of heat on mixed convection boundary layer Darcy‒Forchheimer flow of Casson liquid over a linear…

Abstract

Purpose

The purpose of this paper is to highlight the studies of momentum and transmission of heat on mixed convection boundary layer Darcy‒Forchheimer flow of Casson liquid over a linear extending surface in a porous medium. The belongings of homogeneous‒heterogeneous retorts are also affianced. The mechanism of heat transmission is braced out in the form of Cattaneo‒Christov heat flux. Appropriate restorations are smeared to revolutionize coupled nonlinear partial differential equations conforming to momentum, energy and concentration of homogeneous‒heterogeneous reaction equations into coupled nonlinear ordinary differential equations (ODEs).

Design/methodology/approach

Numerical elucidations of the transmogrified ODEs are accomplished via a dexterous and trustworthy scheme, namely optimal homotopy analysis method. The convergence of planned scheme is exposed with the support of error table.

Findings

The exploration of mixed convection Darcy‒Forchheimer MHD boundary layer flow of incompressible Casson fluid by the linear stretched surface with Cattaneo‒Christov heat flux model and homogeneous‒heterogeneous reactions is checked in this research. Imitations of the core subsidized flow parameters on velocity, temperature and concentration of homogeneous‒heterogeneous reactions solutions are conscripted. From the recent deliberation, remarkable annotations are as follows: non-dimensional velocities in xa− and xb− directions shrink, whereas the non-dimensional temperature upsurges when the Casson fluid parameter ameliorates. Similar impact of Casson fluid parameter, magnetic parameter, mixed convection parameter, inertia parameter, and porosity parameter is observed for both the components of velocity field. An escalation in magnetic parameter shows the opposite attitude of temperature field as compared with velocity profile. Similar bearing of Casson fluid parameter is observed for both temperature and velocity fields. Enhancement in concentration rate is observed for growing values of (Ns) and (Sc), and it reduces for (k1). Both temperature and concentration of homogeneous‒heterogeneous upturn by mounting the magnetic parameter. Demeanor of magnetic parameter, Casson fluid parameter, heat generation parameter is opposite to that of Prandtl number and thermal relaxation parameter on temperature profile.

Practical implications

In many industrial and engineering applications, the current exploration is utilized for the transport of heat and mass in any system.

Originality/value

As far as novelty of this work is concerned this is an innovative study and such analysis has not been considered so far.

Details

Multidiscipline Modeling in Materials and Structures, vol. 15 no. 6
Type: Research Article
ISSN: 1573-6105

Keywords

Article
Publication date: 23 October 2020

Saira Saira, Sadia Mansoor, Sadia Ishaque, Sadia Ehtisham and Muhammad Ali

This study aims to investigate whether the impact of effectiveness of diversity training on affective commitment is different for men versus women and whether affective commitment…

1622

Abstract

Purpose

This study aims to investigate whether the impact of effectiveness of diversity training on affective commitment is different for men versus women and whether affective commitment mediates the relationship between effectiveness of diversity training and employee outcomes of turnover intention and job satisfaction.

Design/methodology/approach

The data were collected from 134 employees working in an Australian manufacturing organization by using an employee survey. Structural equation modeling was used to analyze the data using AMOS.

Findings

The results of this study support the proposed hypotheses, demonstrating a significant, indirect effect of effective diversity training on job satisfaction and turnover intention via affective commitment. Moreover, gender moderates the relationship between effective diversity training and affective commitment.

Practical implications

The findings suggest that organizations can enhance affective commitment and job satisfaction and reduce turnover intention by providing effective diversity training to employees. Gender of employees should also be considered when evaluating the effectiveness of training.

Originality/value

This study provides pioneering evidence of the following relationships: diversity training effectiveness and turnover intention via affective commitment; diversity training effectiveness and job satisfaction via affective commitment; and diversity training effectiveness and affective commitment for men versus women.

Details

European Journal of Training and Development, vol. 45 no. 4/5
Type: Research Article
ISSN: 2046-9012

Keywords

Article
Publication date: 18 June 2020

Sohail Raza Chohan, Guangwei Hu, Wenfeng Si and Ahmad Tisman Pasha

This study aims to fulfill the research gap by suggesting an appropriate and adaptable e-government (e-gov) maturity model for Pakistan not just in the abstract pattern relatively…

Abstract

Purpose

This study aims to fulfill the research gap by suggesting an appropriate and adaptable e-government (e-gov) maturity model for Pakistan not just in the abstract pattern relatively but also in a practical solution assured by the industry experts.

Design/methodology/approach

The qualitative research approach using key informants from the public sector domain; furthermore, e-gov performance artifacts were verified by the citizens through the process of focus group interviews.

Findings

The major finding of the study is the development of e-gov maturity model with implementations artifacts in proposed stages as follows: availability, interaction, integration, transactions and public participation.

Research limitations/implications

This study contributes a qualitative meta-synthesis in the field of e-gov maturity models and could support researchers who are in a quest of knowledge and references to develop new maturity models for their specific countries by providing them with useful resources for further investigation and study.

Practical implications

This maturity model will strengthen the argument that the e-gov services are necessary for the acceptance behaviour of the citizens and the prosperous public administration by the Government in Pakistan. This research strengthens the science-policy interface that has prevented governments from delivering changes on the ground to the public, and it will also identify diversified opportunities for the e-gov sector that can reverse the lack of investment in this domain.

Social implications

The study intends to provide directions to policymakers for the development of e-gov services for the citizens. Additionally, the public value of e-gov can be better understood in the form of citizens’ expectations from the government and this model will integrate public participation in the development of e-gov service.

Originality/value

The public value of e-gov can be better understood in the form citizens’ expectations from the government through this maturity model, furthermore, it can be recommended that the government can improve the relationship between the citizens and the state through the use of information and communication technologies which will strengthen the democratic process in Pakistan.

Details

Transforming Government: People, Process and Policy, vol. 14 no. 3
Type: Research Article
ISSN: 1750-6166

Keywords

Article
Publication date: 18 July 2019

Zahid Ahmed, Sohail Nadeem, Salman Saleem and Rahmat Ellahi

The purpose of this paper is to present a novel model on the unsteady MHD flow of heat transfer in carbon nanotubes with variable viscosity over a shrinking surface.

Abstract

Purpose

The purpose of this paper is to present a novel model on the unsteady MHD flow of heat transfer in carbon nanotubes with variable viscosity over a shrinking surface.

Design/methodology/approach

The temperature-dependent viscosity makes the proposed model non-linear and coupled. Consequently, the resulting non-linear partial differential equations are first reformed into set of ordinary differential equations through appropriate transformations and boundary layer approximation and are then solved numerically by the Keller box method.

Findings

Graphical and numerical results are executed keeping temperature-dependent viscosity of nanofluid. It is noted that, for diverse critical points, it is found that at one side of these critical values, multiple solutions exist; on the other side, no solution exists. A comparison is also computed for the special case of existing study. The temperature and pressure profiles are also plotted for various effective parameters.

Originality/value

The work is original.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 29 no. 12
Type: Research Article
ISSN: 0961-5539

Keywords

1 – 10 of 22