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Article
Publication date: 8 August 2023

Ahmad Ali Jan, Fong-Woon Lai, Syed Quaid Ali Shah, Muhammad Tahir, Rohail Hassan and Muhammad Kashif Shad

Sustainability is essential to the ongoing operations of banks, though it is much less clear how Islamic corporate governance (ICG) promotes economic sustainability (ES) and…

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Abstract

Purpose

Sustainability is essential to the ongoing operations of banks, though it is much less clear how Islamic corporate governance (ICG) promotes economic sustainability (ES) and thereby prevents bankruptcy. To explore the unexplored, this study aims to examine the efficacy of ICG in preventing bankruptcy and enhancing the ES of Islamic banks operating in Pakistan.

Design/methodology/approach

The current study measures ES through Altman's Z-score to analyze the level of the industry's stability and consequently examines the effect of ICG on the ES of Islamic banks in Pakistan for the post-financial-crises period. Using the country-level data, this study utilized a fixed-effect model and two-stage least squares (2SLS) techniques on balanced panel data spanning from 2009 to 2020 to provide empirical evidence.

Findings

The empirical results unveiled that board size and meetings have a significant positive influence on the ES while managerial ownership demonstrated an unfavorable effect on ES. Interestingly, the insignificant effect of women directors became significant with the inclusion of controlled variables. Overall, the findings indicate that ICG is an efficient tool for promoting ES in Islamic banks and preventing them from the negative effects of emerging crises.

Practical implications

The findings provide concrete insights for policymakers, regulators and other concerned stakeholders to execute a sturdy corporate governance system that not only oversees the economic, social and ethical aspects but also provides measures to alleviate the impacts of potential risks like the COVID-19 pandemic.

Social implications

Examining the role of ICG in alleviating bankruptcy risk is an informative and useful endeavor for all social actors.

Originality/value

To the best of the authors’ knowledge, this study is one of the first efforts to provide evidence-based insights on the role of ICG in preventing bankruptcy and offers a potential research direction for ES.

Details

Management & Sustainability: An Arab Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2752-9819

Keywords

Open Access
Article
Publication date: 17 July 2023

Kanza Abid, Zafar Iqbal Shams, Muhammad Suleman Tahir and Arif Zubair

The presence of heavy metals in milk causes many acute and chronic physiological dysfunctions in human organs. The present study aims to investigate the heavy metals in cow's and…

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Abstract

Purpose

The presence of heavy metals in milk causes many acute and chronic physiological dysfunctions in human organs. The present study aims to investigate the heavy metals in cow's and buffalo's milk of two major cities, Karachi and Gujranwala, Pakistan to estimate metal intake by humans from this source.

Design/methodology/approach

In total, 48 milk samples from 2 cities were drawn from animals' udder to avoid contamination. Each sample was digested with nitric acid at 105 oC (degree Celsius) on a pre-heated electric hot plate to investigate the metals by atomic absorption spectroscopy (flame type). Air-acetylene technique analyzed chromium, cadmium and lead, and the hydride method analyzed arsenic in the milk samples.

Findings

The results revealed the highest mean lead concentration (19.65 ± 43.86 ppb) in the milk samples, followed by chromium (2.10 ± 2.33 ppb) and arsenic (0.48 ± 0.73 ppb). Cadmium was not detected in any sample, assuming cadmium's occurrence was below the detection level. The concentrations of all the metals in the samples of the two cities do not differ statistically. Lead concentrations in the buffalo's milk were higher than in cow's milk (p < 0.05). However, the concentrations of arsenic and chromium between buffalo's and cow's milk do not differ statistically. The present study reveals a lower level of metals in the milk than those conducted elsewhere. The mean concentrations of all the metals met the World Health Organization's (WHO) safety guidelines (1993).

Research limitations/implications

Although cadmium causes toxicity in the human body, cadmium could not be measured because cadmium's concentration was below the detection level, which is 1 ppb.

Practical implications

This study will help reduce the toxic metals in our environment, and the sources of heavy metals, particularly from the industrial sector could be identified. The feed and water consumed by the milking animals could be carefully used for feeding them.

Social implications

This study will help reduce the diseases and malfunction of human organs and organ systems since these heavy metals cause toxicity and carcinogenicity in humans. Arsenic and chromium cause cancer while lead causes encephalopathy (a brain disease).

Originality/value

The study reports heavy metal concentrations in the two attributes of four independent variables of raw milk samples that were scarcely reported from Pakistan.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 26 March 2024

Syed Quaid Ali Shah, Fong Woon Lai, Muhammad Tahir, Muhammad Kashif Shad, Salaheldin Hamad and Syed Emad Azhar Ali

Intellectual capital (IC) is a paramount resource for competitiveness in the knowledge-based financial sectors of the economy. As financial technology advances, specifically in…

Abstract

Purpose

Intellectual capital (IC) is a paramount resource for competitiveness in the knowledge-based financial sectors of the economy. As financial technology advances, specifically in the banking industry, it is vital to understand the effect of IC on financial performance. This study aims to investigate the effect of IC on return on equity (ROE), with a unique emphasis on the moderating role of board attributes. Previous studies have overlooked this moderating role.

Design/methodology/approach

The study sample consists of 17 banks and a panel data set spanning 2016–2021, extracted from annual reports. Antel Pulic’s value-added intellectual coefficient (VAIC) model is used to compute IC. To analyze the data, a generalized least squares analysis is conducted. The robustness of the analysis is ensured by using the two-stage least squares (2SLS) econometric technique.

Findings

The findings indicate that both the VAIC and human capital efficiency (HCE) have a significant impact on the ROE of banks. In terms of moderation, it is observed that board size (BS) exerts a negative effect on the association between VAIC, HCE, structural capital efficiency and ROE. Additionally, BS positively compounds the connection between capital employed efficiency and ROE. Similarly, the presence of independent directors (IND) significantly moderates the effects of VAIC and its components on the ROE of banks in Pakistan.

Practical implications

Banks should focus on the HCE for a higher ROE. Moreover, banks ought to prioritize appointing more independent directors in the boardroom for effective utilization of IC and greater ROE.

Originality/value

The findings of the study, which analyzed data from Pakistan’s banking sector, are original and provide additional insights into the literature on IC and board attributes.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 7 September 2023

Muhammad Farooq, Qadri Al-Jabri, Muhammad Tahir Khan, Asad Afzal Humayon and Saif Ullah

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of…

Abstract

Purpose

This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of an emerging market, i.e. Malaysia.

Design/methodology/approach

This study includes 300 bank-year observations from Islamic and conventional banks over the period 2010–2021. The dynamic panel model (generalized method of moments [GMM]) was considered the primary estimation model that solves simultaneity, endogeneity and omitted variable problems as most governance variables are endogenous by nature. Hence, static models are considered biased after conducting the DWH test of endogeneity, and considering dynamic panel GMM is valid proven by Sargan and Hensen and first-order (ARI) and second-order (ARII) tests.

Findings

Based on the regression results, the authors discovered that board size, female participation in the board and director remuneration have a significant positive impact on bank performance, whereas board meetings have a significant negative impact. Furthermore, the board governance structure of commercial banks is found to be more passive than that of Islamic banks.

Practical implications

The study’s findings added a new dimension to governance research, which could be a valuable source of knowledge for policymakers, investors and regulators looking to improve existing governance mechanisms for better performance of conventional and Islamic banks.

Originality/value

The goal of this study is to add to the existing literature by focusing on the impact of female board participation and other board governance mechanisms in both conventional and Islamic banks on bank performance.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 September 2023

Yunice Karina Tumewang, Indri Supriani, Herlina Rahmawati Dewi and Md. Kausar Alam

This study aims to identify the significant scientific actors, reveal the intellectual structure and explore essential features for future research direction in Sharia governance…

Abstract

Purpose

This study aims to identify the significant scientific actors, reveal the intellectual structure and explore essential features for future research direction in Sharia governance studies.

Design/methodology/approach

The study applies a hybrid review combining bibliometric analysis and content analysis. It uses Rstudio (biblioshiny), VOSviewer and Microsoft Excel to analyze 457 articles published in 206 journals indexed by Scopus and/or Web of Science during the period of 1985 until the end of 2022.

Findings

The paper discovered four distinct streams of Sharia governance studies: structure of Sharia governance, Sharia governance and risk management, Sharia governance and sustainability and the effect of Sharia governance toward firm’s financial performance. Furthermore, it derives and summarizes 26 main research questions for future studies.

Research limitations/implications

In terms of theoretical implications, the finding contributes to the general literature on Sharia governance by conducting bibliometric analysis and content analysis. In terms of practical implications, this study suggests that Sharia governance should be strengthened by the management of Islamic banks and other Islamic-based businesses.

Originality/value

To the best of the authors’ knowledge, this study is among the early studies using a hybrid review on the topic of Sharia governance, allowing future researchers in this field to capture the trends and progress of current literature as well as the research gaps to be filled in by future researchers.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 21 March 2024

Muhammad Hafeez, Ida Yasin, Dahlia Zawawi, Shoirahon Odilova and Hussein Ahmad Bataineh

This study aims to investigate the effect of organizational ambidexterity (OA) and organizational green culture (OGC) on corporate sustainability (CS) while incorporating the…

Abstract

Purpose

This study aims to investigate the effect of organizational ambidexterity (OA) and organizational green culture (OGC) on corporate sustainability (CS) while incorporating the mediating role of green innovation (GI) to provide a detailed insight into CS. The study also presents a research framework based on the Organizational Ambidexterity theory and Natural Resource-based view to explain the factors contributing to CS.

Design/methodology/approach

Using stratified sampling, the study collected data through survey-based empirical research from 307 textile companies registered with the Securities and Exchange Commission of Pakistan (SECP) or the All-Pakistan Textile Mills Association (APTMA). The collected data were analysed using path analysis, mediation analysis and moderation analysis through smart PLS-SEM version 4.0 to assess the composition and causal association of factors.

Findings

The study found a significant relationship between OA and OGC with CS. Furthermore, the study revealed that green innovation partially mediates the relationship between OGC and CS. The proposed research framework can be valuable for promoting and recommending actions to enhance CS.

Research limitations/implications

The study on CS in the textile sector of Pakistan has limitations such as a narrow focus, cross-sectional design and reliance on self-reported data. Future research should explore additional factors, conduct longitudinal research, investigate contextual factors, scrutinize specific green innovation practices and broaden the scope of the study to include SMEs and other textile organizations.

Practical implications

The research framework can help senior executives to foster CS by promoting OGC, OA and GI. Practitioners and academicians can also utilize or further investigate the proposed framework for validation and to foster CS.

Originality/value

This study fills gaps in the existing literature by investigating the mediating effect of GI between OGC and CS. The proposed research framework provides a comprehensive understanding of the factors contributing to CS based on the Organizational Ambidexterity theory and Natural Resource-based view.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 21 February 2024

Azra Rafique, Kanwal Ameen and Alia Arshad

This study aims to explore the evidence-based usage patterns of higher education commission (HEC) subscribed e-journal databases in the university digital library used by the…

Abstract

Purpose

This study aims to explore the evidence-based usage patterns of higher education commission (HEC) subscribed e-journal databases in the university digital library used by the scholarly community and the academics’ online searching behaviour at a higher education institution in Pakistan.

Design/methodology/approach

The study used an explanatory sequential mixed methods approach. Raw transaction log data were collected for quantitative analysis, and the interview technique was used for qualitative data collection and thematic analysis.

Findings

Log analysis revealed that HEC subscribed databases were used significantly, and among those, scholarly databases covering various subjects were more frequently used than subject-specific society-based databases. Furthermore, the users frequently accessed the needed e-journal articles through search engines like Google and Google Scholar, considering them sources of free material instead of the HEC subscribed databases.

Practical implications

It provides practical implications for examining the evidence-based use patterns of e-journal databases. It suggests the need for improving the access management of HEC databases, keeping in view the usage statistics and the demands of the scholars. The study may also help create market venues for the publishers of scholarly databases by offering attractive and economical packages for researchers of various disciplines in developing and underdeveloped countries. The study results also guide the information professionals to arrange orientation and information literacy programs to improve the searching behaviour of their less frequent users and enhance the utilization of these subscribed databases.

Originality/value

The study is part of a PhD project and, to the best of the authors’ knowledge, is the first such work in the context of a developing country like Pakistan.

Details

Global Knowledge, Memory and Communication, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9342

Keywords

Article
Publication date: 30 April 2024

Madha Adi Ivantri, Muhammad Hakim Azizi, Ana Toni Roby Candra Yudha and Yudi Saputra

This paper aims to propose a new housing finance mechanism through gold price as an alternative to interest rate in Islamic home financing, especially on Bai’Bithaman Ajil (BBA…

Abstract

Purpose

This paper aims to propose a new housing finance mechanism through gold price as an alternative to interest rate in Islamic home financing, especially on Bai’Bithaman Ajil (BBA) contract.

Design/methodology/approach

This study using simulation approach to calculate the monthly installments for home financing using gold price references. In simple terms, propose a financing formula in the BBA contract by converting the selling price of the house to the gold price, and then the monthly installments also follow the actual gold price. The authors provide an example by simulating this formula using historical data and cases of housing financing at Indonesian Islamic banks. The authors compare housing financing models based on gold prices and interest rates. Finally, The authors can compare the two housing financing models that are affordable for low-income people.

Findings

The results show that in the initial period, monthly installments of BBA based on gold price were lower than home financing based on interest rate. This result makes it possible for low-income people who cannot access financing based on interest rates to access financing based on gold price. However, the total installments of financing based on gold prices are higher than the financing model based on interest rates.

Research limitations/implications

The paper confines one contract, namely, BBA, as it is claimed to be more Shariah-compliant than others.

Practical implications

These findings suggest an alternative model for Islamic banks and regulatory authorities in Indonesia to replace the interest rate reference with the gold price in BBA contract housing financing. This model can offer competitive advantages for Islamic banks, including lower initial installments and inflation-protected profits, serving as a means of differentiating them from conventional banks.

Social implications

Gold price-based housing financing model in Islamic banks will increase the affordability of housing financing for low-income people.

Originality/value

This paper tries to solve two problems, namely, first, the problem of assuming that Islamic and conventional banks are the same, and second, the problem of housing finance affordability. This study needs to be explored.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 30 April 2024

Kristijan Breznik, Naraphorn Paoprasert, Klara Novak and Sasitorn Srisawadi

This study aims to identify research trends and technological evolution in the polymer three-dimensional (3D) printing process that can effectively identify the direction of…

Abstract

Purpose

This study aims to identify research trends and technological evolution in the polymer three-dimensional (3D) printing process that can effectively identify the direction of technological advancement and progress of acceptance in both society and key manufacturing industries.

Design/methodology/approach

The Scopus database was used to collect data on polymer 3D printing papers. This study uses bibliometric approach along with network analytic techniques to identify and discuss the most important countries and their scientific collaboration, compares income groups and analyses keyword trends.

Findings

It was found that top research production results from heavy investments in research and development. The USA has the highest number of papers among the high-income countries. However, scientific production in the other two income groups is strongly dominated by China and India. Keyword analysis shows that countries with lower incomes in certain areas, such as composite and bioprinting, have fallen behind other groups over time. International collaborations were suggested as mechanisms for those countries to catch up with the current research trends. The evolution of the research field, which started with a focus on 3D printing processes and shifted to printed part designs and their applications, was discussed. The advancement of the research topic suggests that translational research on polymer 3D printing has been led mainly by research production from higher-income countries and countries with large research and development investments.

Originality/value

Previous studies have conducted performance analysis, science mapping and network analysis in the field of 3D printing, but none have focused on global research trends classified by country income. This study has conducted a bibliometric analysis and compared the outputs according to various income levels according to the World Bank classification.

Details

Rapid Prototyping Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-2546

Keywords

Article
Publication date: 27 September 2023

Early Ridho Kismawadi

This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.

Abstract

Purpose

This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.

Design/methodology/approach

Based on the selected criteria, 92 Islamic banks (IBs) from 20 countries were selected for further research. The authors used generalized method moments (GMM) estimation method. The agency cost and Shariah board characteristics are the explanatory variables. The author uses the age of the bank and the size of the bank for variable control.

Findings

Empirical results indicate that first, agency costs represented by cast/total assets negatively affect IBs’ return on equity and net income. As agency costs rise, IBs’ financial performance declines. Second, Shariah supervisory board (SSB) size and board independence affect IB performance. The study found that SSB size positively affects IB performance.

Research limitations/implications

This research contributes to the literature on IBs in different countries, which policymakers and practitioners can use to improve agency cost functions and Shariah board characteristics. Second, this analysis shows that IBs require specific attention for agency charges, given their operations and business structures. This study contributes to agency theory, which requires Islamic banking information and practices. Finally, the author has aided regulators and IBs by identifying the sources of agency cost practices that can be resolved. The other bank governance contribution is twofold. First, the author studied dual board governance in IBs (SSB and ordinary boards of directors). Second, the author examines how SSB and traditional board governance affect IB performance. This research focuses on banks listed on stock exchanges in the 20 countries analysed.

Practical implications

The research has policy and practical implications for central banks and IBs. By outlining appropriate regulatory guidelines and reporting systems, regulatory authorities can ensure Sharia compliance and protect the independence of IB Shariah department officers. Regulators and relevant stakeholders must ensure Sharia compliance, audits, inspections, reporting and accurate disclosure for IBs.

Originality/value

This paper offers original contributions to professionals in the field of IBs and stakeholders investigating the relationship between agency costs, governance of IBs, characteristics of Islamic supervisory boards and the performance of IBs.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

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