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The increasing ethical misconduct at job place demands to understand the role of ethics in a wide variety of disciplines. This paper aims to empirically investigate the mediating mechanism of life satisfaction and subjective happiness between Islamic work ethics – innovative work behavior (IWB) and organizational citizenship behavior (OCB).

The sample comprised 296 employees and 58 head of departments (HODs) of top 11 business schools in Pakistan. The data of the study were collected in three waves and from two different sources (faculty members and their HODs) through questionnaire. The statistical technique SEM analysis was applied to inspect the proposed direct and mediating hypotheses.

Taken together, the findings revealed that Islamic work ethics (IWE) improves quality of life and by following IWE at workplace, employees feel pleasure and show satisfaction from life. The results supported the mediating role of both life satisfaction and subjective happiness between IWE-IWB and IWE-OCB.

This study provides practical insight that Islamic business ethics plays an important role at workplace and improves quality of life and individual behavior.

The current research is unique, as it empirically investigates the mechanism quality of life phenomena which connects IWE and individual behavior (innovative and citizenship). The mechanism quality of life is less studied, and therefore this study fills the gap of scant literature.

This study examined how economic freedom and its related components, such as open markets, regulatory efficiency, rule of law and the size of government, affect bank risk behavior, focusing on the Japanese context.

The study employs a two-step GMM framework on the annual data of Japanese banks ranging from 2005 to 2020 to empirically test the hypotheses. Furthermore, we also use the ordinary least square method to ensure the robustness of our mainline findings.

The finding suggests that economic freedom increases the banks' risk-taking, thus making them fragile. The results also highlight that out of the four main subcomponents of economic freedom, regulatory efficiency and government size increase bank risk-taking, while the rule of law and open markets decrease banks' risk-taking. Additionally, we examine how the banks' specific characteristics affect the results by creating a subsample based on capitalization and liquidity ratios. Overall, the results are consistent with the baseline findings. Moreover, the results are robust to alternative proxy measures of risk.

The study's findings have several implications for regulators and policymakers. The results suggest that regulators and policymakers should reconsider their strategies for economic freedom to ensure that they promote stability in the banking system and reduce banks' risk-taking inclinations.

Although previous studies have examined the impact of economic freedom on bank stability and risk-taking, this study is the first to do so in the Japanese context, contributing to the literature by providing new insights and empirical evidence.