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Article
Publication date: 13 February 2024

Hadia Sohail and Noman Arshed

Literature has pointed that conventional financial development theories have inconclusive role on motivating new businesses. New ventures often consider the conventional system…

Abstract

Purpose

Literature has pointed that conventional financial development theories have inconclusive role on motivating new businesses. New ventures often consider the conventional system that passes through risk and provides fixed-interest lending as a burden. Comparatively, Islamic finance contributes using participative and equitable substitute for startups and has a potential in promoting new businesses. This study aims to investigate the holistic financial development index quadratic effect on entrepreneurship and include the moderating role of Islamic financing at national level.

Design/methodology/approach

Islamic banks of 21 nations constitute the unbalanced panel data. Financial development and entrepreneurship indices were developed using factor analysis and panel median regression to estimate the nonlinear financial market development effects and Islamic financing moderation model.

Findings

The results indicated that low financial market development is entrepreneurship deterring because of interest burden effect, which could be eased with a proportional increase in the Islamic financing, which is participative. The moderating effect has led to the categorization of the sample countries into entrepreneurship promoting and entrepreneurship discouraging with respect to the current incidence of financial market development and Islamic financing, which can help policymakers in understanding the entrepreneurship promoting combination of financial development and Islamic financing.

Research limitations/implications

Central banks and Shari’ah advisory councils can adopt Islamic financing transition in the national financial inclusion policy for new business facilitation.

Originality/value

This study is instrumental in exploring the assessment of introducing Islamic financing while developing the financial sector on multidimensional entrepreneurship.

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: 25 April 2023

Mubasher Iqbal, Rukhsana Kalim and Noman Arshed

This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets…

Abstract

Purpose

This study has incorporated competitiveness by considering it a significant factor behind determining as well as moderating industrial value added in the environmental Kuznets curve (EKC) framework. This study aims to explore the moderating role of competitiveness policy in EKC with an aim to promote business led sustainability at national level.

Design/methodology/approach

Considering the environmental deterioration aspect of industrialization, this study tests the existence of EKC for SAARC countries using the data from 1996 to 2021 using second-generation static panel data model.

Findings

Estimated results have validated that moderating effect is responsible for improving environmental sustainability in SAARC countries. Furthermore, population density is responsible for increasing while trade openness is responsible for decreasing carbon emissions.

Originality/value

Higher industrial activities are a symbol of upward-moving economic growth. But its other impact is in the form of environmental deterioration. However, the relationship between industrialization and environmental quality can be identified through EKC.

Details

Competitiveness Review: An International Business Journal , vol. 34 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 1 September 2023

Mubasher Iqbal, Shajara Ul-Durar, Noman Arshed, Khuram Shahzad and Umer Ayub

Increased trapped heat in the atmosphere leads to global warming and economic activity is the primary culprit. This study proposes the nonlinear impact of economic activity on…

Abstract

Purpose

Increased trapped heat in the atmosphere leads to global warming and economic activity is the primary culprit. This study proposes the nonlinear impact of economic activity on cooling degree days to develop a climate Kuznets curve (CKC). Further, this study explores the moderating role of higher education and renewable energy in diminishing the climate-altering effects of economic activity.

Design/methodology/approach

All the selected BRICS economies range from 1992 to 2020. The CKC analysis uses a distribution and outlier robust panel quantile autoregressive distributed lagged model.

Findings

Results confirmed a U-shaped CKC, controlling for population density, renewable energy, tertiary education enrollment and innovation. The moderating role of renewable energy and education can be exploited to tackle the progressively expanding climate challenges. Hence, education and renewable energy intervention can help in reducing CKC-based global warming.

Research limitations/implications

This study highlighted the incorporation of climate change mitigating curriculum in education, so that the upcoming economic agents are well equipped to reduce global warming which must be addressed globally.

Originality/value

This study is instrumental in developing the climate change-based economic activity Kuznets curve and assessing the potential of higher education and renewable energy policy intervention.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 28 May 2021

Noman Arshed, Muhammad Shahzad Sardar and Mubasher Iqbal

This study aims to test the role of infrastructure for economic growth. For this purpose, panel data of the world is selected from 1998 to 2018 and the study has used slope…

Abstract

Purpose

This study aims to test the role of infrastructure for economic growth. For this purpose, panel data of the world is selected from 1998 to 2018 and the study has used slope moderator to test the productivity of real economic activity with economic growth.

Design/methodology/approach

In this context, the feasible generalized least square method is adopted to estimate the results. Four types of infrastructure indicators i.e. quality of air, port, rail and road are used along with disaggregated GDP.

Findings

According to the results of this study, the role of industrial and agricultural value addition without infrastructure is negative. For industrial value addition, the cross product with all infrastructure types positively impacts economic growth. All the infrastructures, along with services value addition, except seaport, are contributing to economic growth positively. Along with agriculture value addition, only road infrastructure is contributing to economic growth positively. This study has also used two control variables i.e. quality of education and institutions. These variables are also found to be positive and significant with economic growth.

Originality/value

This study explores the moderating role of quality of infrastructure sector on real sector productivity, which is leading to economic growth.

Details

Competitiveness Review: An International Business Journal , vol. 32 no. 6
Type: Research Article
ISSN: 1059-5422

Keywords

Open Access
Article
Publication date: 11 January 2023

Xiaobing Huang, Yousaf Ali Khan, Noman Arshed, Sultan Salem, Muhammad Ghulam Shabeer and Uzma Hanif

Social development is the ultimate goal of every nation, and climate change is a major stumbling block. Climate Risk Index has documented several climate change events with their…

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Abstract

Purpose

Social development is the ultimate goal of every nation, and climate change is a major stumbling block. Climate Risk Index has documented several climate change events with their devastations in terms of lives lost and economic cost. This study aims to link the climate change and renewable energy with the social progress of extreme climate affected countries.

Design/methodology/approach

This research used the top 50 most climate-affected countries of the decade and estimated the impact of climate risk on social progress with moderation effects of renewable energy and technology. Several competing panel data models such as quantile regression, bootstrap quantile regression and feasible generalized least square are used to generate robust estimates.

Findings

The results confirm that climate hazards obstruct socioeconomic progress, but renewable energy and technology can help to mitigate the repercussion. Moreover, improved institutions enhance the social progress of nations.

Research limitations/implications

Government should improve the institutional quality that enhances their performance in terms of Voice and Accountability, Political Stability and Absence of Violence, Government Effectiveness, Regulatory Quality, Rule of Law and Control of Corruption to increase social progress. In addition, society should use renewable energy instead of fossil fuels to avoid environmental degradation and health hazards. Innovation and technology also play an important role in social progress and living standards, so there should be free hand to private business research and development, encouraging research institutes and universities to come forward for innovation and research.

Practical implications

The ultimate goal of all human struggle is to have progress that facilitates human beings to uplift their living standard. One of the best measures that can tell us about a nation’s progress is Social Progress Index (SPI), and one of many factors that can abruptly change it is the climate; so this study is an attempt to link the relationship among these variables and also discuss the situation where the impact of climate can be reduced.

Social implications

Although social progress is an important concept of today’s economics discussion, relatively few studies are using the SPI to measure social well-being. Similarly, there is consensus about the impact of climate on people, government and crops but relatively less study about its overall impact on social progress, so this study attempts to fill the gap about the relationship between social progress and climate change.

Originality/value

The main contribution of this study is the solution for the impact of climate risk. Climate risk is not in human control, and we cannot eliminate it, but we can reduce the negative impacts of climate change. Moderator impact of renewable energy decreases the negative impact of climate change, so there is a need to use more renewable energy to mitigate the bad consequences of climate on social progress. Another moderator is technology; using technology will also mitigate the negative consequences of the climate, so there is a need to facilitate technological advancement.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 3
Type: Research Article
ISSN: 1756-8692

Keywords

Article
Publication date: 16 August 2021

Anam Javaid and Noman Arshed

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study…

Abstract

Purpose

Money laundering is an activity where illegal proceeds are hidden. This often leads to a reduction in government revenue and loss of government control of public funds. This study aims to identify the important sources of growing demand for money laundering in developing countries. Further, it identifies the factors that reduce the impact of sources of demand for money laundering.

Design/methodology/approach

This study used the panel approach of feasible generalized least square to investigate the growing demand for money laundering in 62 developing countries and provides a moderation-based solution for managing the demand factors.

Findings

The empirical results of this study indicate that there are two sources that increase the demand for money laundering in developing countries. This includes a high tax rate on profit linked with private firms and businesses and diversion of public funds related to government officials and politicians. The results indicate that profit tax and diversion of funds increase the demand for money laundering. The profit tax-based money laundering can be moderated by the quality of the education system and the diversion of public funds and money laundering can be moderated using bureaucracy quality.

Originality/value

This is one of the first studies to empirically estimate the impact of two important sources (i.e. diversion of public funds by government officials and politicians and a high tax rate) that create demand for money laundering in developing countries. The findings help developing countries’ governments formulate policies and curb the growing demand for money laundering.

Details

Journal of Money Laundering Control, vol. 25 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 26 January 2023

Nadia Hanif, Anam Javaid, Noman Arshed and Abdul Rafay

Money laundering (ML) is the process used to convert the proceeds of crimes into lawful form. This global problem promotes social ills, corruption and organized crimes. Various…

Abstract

Purpose

Money laundering (ML) is the process used to convert the proceeds of crimes into lawful form. This global problem promotes social ills, corruption and organized crimes. Various instruments are used to counter individual illicit behavior. However, in low-income countries, these regulations are not common because of weak institutions, poor governance and a lack of awareness about the negative consequences of ML. In these countries, multinational corporations take advantage of poor law and order, lower environmental regulations and corruption and shift their domestic operations into foreign countries.

Design/methodology/approach

This study uses a multiple mediator model to investigate the link between foreign direct investment (FDI), environmental degradation measured as CO2 emissions (CE), exports and ML for 118 countries between 2008 to 2018.

Findings

Results indicate that FDI promotes exports and CE, leading to illicit financial flows.

Originality/value

Policymakers should enforce checks on foreign funds flow and adopt illicit flow mitigation measures to minimize ML globally.

Details

Journal of Money Laundering Control, vol. 26 no. 6
Type: Research Article
ISSN: 1368-5201

Keywords

Article
Publication date: 6 April 2021

Noman Arshed and Rukhsana Kalim

This study aims to develop and estimate the Musharaka demand and supply model for full-fledged Islamic banks to explore patterns and stability of Musharaka equilibrium in the…

Abstract

Purpose

This study aims to develop and estimate the Musharaka demand and supply model for full-fledged Islamic banks to explore patterns and stability of Musharaka equilibrium in the market.

Design/methodology/approach

This quantitative study uses a deductive approach to explore financial statement-level data of 30 Islamic banks of six countries between 2012 and 2017.

Findings

The results show that the Musharaka market is stable when Musharaka demand is purchase price elastic and supply is sale price inelastic. It indicates that the current banking industry is unable to increase supply when there is an increase in Musharaka returns. In comparison, industry demand for Musharaka is increasing at a higher rate, corresponding to a decrease in Musharaka price.

Practical Implications

This study is fundamental in estimating the market stable market returns and market quantity of Musharaka financing. If market returns and quantity deviate, market forces will push it to equilibrium.

Originality/value

The theoretical and empirical studies worked on the application and suitability of Musharaka financing. However, they failed to explain demand and supply forces in determining the level of Musharaka financing in the economy using empirical data. Without an equilibrium model, policymakers would be unable to predict the movement of the Islamic stock market index (the price of Musharaka financing) and the incidence of Musharaka financing. Further, it is not possible to apply expansionary intervention by policymakers if the stability of the market is unknown.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 17 February 2025

Shakeel Riaz, Talat Hussain and Noman Arshed

The purpose of this study is to explore how changes in customer deposits influence the banking profits. The banking sector’s growth-promoting role is supported by its ability to…

Abstract

Purpose

The purpose of this study is to explore how changes in customer deposits influence the banking profits. The banking sector’s growth-promoting role is supported by its ability to perform the essential function of financial intermediation. However, Islamic banks go the extra mile by balancing the wealth of the rich and the poor and distributing risk more evenly. The effective operation of the services industry, including Islamic banks, depends on the active participation of their customers. Customers’ deposits in their accounts with Islamic banks are a crucial funding source. In actuality, two distinct sorts of demanding customers exist. Their expectations of the services provided by Islamic banks are different.

Design/methodology/approach

Panel quantile regression is applied using the collected data from Islamic banks’ audited financial statements for the time period from 2001 to 2021.

Findings

This study is expected to provide the breakdown of shares of current and saving deposits for Islamic banks, which supports managing liquidity risk. This breakdown will help the policymakers lay down a framework for managing the share of current and saving deposits in their favor.

Research limitations/implications

The study aims to empirically evaluate whether changes in the current and saving account patronization have a role in the liquidity risk. And determine how banks need to manage their deposit structure to manage liquidity.

Originality/value

Previous studies have been nose-dive in providing country-level comparisons of different types of deposits in the context of liquidity risk management.

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: 18 March 2019

Rukhsana Kalim, Noman Arshed and Sadaf Shaheen

In the past few years, the concept of competitiveness developed by the World Economic Forum has become the focal point. Global competitiveness index (GCI) presents the constructs…

Abstract

Purpose

In the past few years, the concept of competitiveness developed by the World Economic Forum has become the focal point. Global competitiveness index (GCI) presents the constructs which are possible means of productivity of the country. The purpose of this study is to explore whether boosting the productivity of agriculture, services and industry sector is the possible channel of competitiveness leading to growth.

Design/methodology/approach

For this, panel GMM moderator model has been used for 16 low-income countries.

Findings

The results indicate that competitiveness helps agriculture and industry sector to become more growth productive, while it reduces the productivity of services sector.

Originality/value

This study urges that the gains from following the competition promotion policies overweigh the costs. Hence, low-income countries can break the low productivity trap.

Details

Competitiveness Review: An International Business Journal, vol. 29 no. 2
Type: Research Article
ISSN: 1059-5422

Keywords

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