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This study examines the impact of hedging on firm value of Sharīʿah compliant firms (SCFs) in a non-linear framework.

This study employs the system-GMM for dynamic panel data to examine the influence of derivatives usage on firm value (Tobin's Q, ROA and ROE). The sample comprised of 59 non-financial SCFs engaged in derivatives from 2000 to 2017 (18 years). The Sasabuchi-Lind-Mehlum (SLM) test for U-shaped is performed to confirm the existence of the non-linear relationship.

This study concludes that hedging significantly contributes to firm value of SCFs based on the non-linear framework. This study suggests that, first, the non-linear relationship occurs due to the different degree of derivatives usage and risk. Second, firms practice selective hedging to maintain the upside potential of firm value.

This study has important implications. First, the importance of risk management via derivatives to increase firm value, second, the evidence of selective hedging from the non-linear relationship between derivatives and firm value and third, the need for quality reporting on derivatives engagement by firms in line with the required accounting standard on derivatives.

This study fills the gap in the literature in relation to the risk management strategies of SCFs in three aspects. First, re-examines the relationship using recent data. Second, examines the relationship in the non-linear framework as the limited studies found in the literature on Malaysian firms are only based on linear relationship. Third, determines whether hedging undertaken by firms is optimal as this can only be addressed using the non-linear framework. This study is robust to the various definitions of firm value (Tobin's Q, ROA and ROE) and non-linear methodologies.

The purpose of this paper is to study the relationship between corporate cash holdings and financial performance, both linearly and non-linearly, for listed non-financial firms in Saudi Arabia.

The data include all listed firms in Saudi Arabia’s primary stock market, excluding banks and insurance companies, over 2005–2016. The source for all data is the Osiris database. In evaluating the association between cash holdings and financial performance, static (i.e. pooled ordinary least squares) and dynamic (i.e. system generalized method of moments) specifications were implemented. Further, to confirm the non-linear linkage between cash reserves and financial performance, a U test was used.

The findings show that cash holdings play a significant role in firms’ performance; specifically, this relationship is non-linear, exhibiting an inverse U shape, driven by levels of cash reserves. This non-linear relationship verifies the tenets of the trade-off theory of optimum cash level based on the benefits and costs of holding cash.

It is recommended that future studies investigate corporate liquidity and performance among Shariah-compliant firms and their conventional counterparts.

The findings of this study provide useful insights for managers and policymakers on efficient levels of corporate liquidity management.

This paper provides further insights for investors on the role of corporate cash holding levels in firm performance.

To the best of the author’s knowledge, this paper is among the first to explore a non-linear relationship between cash holdings and firms’ performance using accounting measures.

Perceived organizational support is considered a resource capable of positively influencing performance by reducing stressors and encouraging commitment. However, only a modest relationship has been shown between support and performance, suggesting that moderators affect this relationship. To date, no research has examined moderators that might serve to predict non‐linear support‐performance relational forms. The purpose of this research is to examine how cynicism moderates the relationship between support and performance in a non‐linear form.

In study 1, 256 full‐time employees from a variety of industries and jobs completed surveys. In study 2, 143 full‐time state employees participated.

Those reporting high cynicism actually construe levels of support negatively. Specifically, performance for cynics was highest when perceived support was at moderate levels only. Conversely, performance for cynics was lowest when perceived support was either high or low.

A limitation of our studies was the use of survey methodology for data collection. Tests of multicollinearity suggest, however, that this did not result in method bias. Future research should consider other potential non‐linear relationships with organizational support to determine when support is not perceived favorably. Additionally, it may be informative to expand the scope of research on cynicism to include sources (e.g. decision makers, legal system) and an examination of the creation of cynical climates (e.g. frequent layoffs).

Recognizing that not all employees (specifically those who are cynical) will perceive support efforts as positive, managers can limit potential negative reactions to support efforts by clarifying their intentions and those of the organization. An increased awareness of possible aversive reactions to what is intended to be supportive, allows managers to better understand and react to cynical employees' behavior.

This study is a first to examine the non‐linear relationship between organizational support and performance as moderated by employee cynicism.

The purpose of this paper is to posit and empirically demonstrate that positive and negative leader behaviors have a linear relationship with subordinate outcomes. The authors challenge this notion, and test a model where leader positive and negative behaviors have a curvilinear relationship (inverse-U shaped) with subordinate job satisfaction.

Cross-sectional design, based on a sample of 131 employees working across organizations and industries in the USA. Subordinates provided information on all study measures.

The authors show that higher levels of positive and negative behaviors from the leader will not generate a corresponding linear increase in employees’ satisfaction. Instead, the relationship is non-linear, with diminishing returns in subordinate job satisfaction for positive leader behaviors and higher ones for negative leader behaviors. In addition, subordinates with high levels of hardiness are more satisfied with positive leader behaviors, and report less dissatisfaction with negative leader behaviors.

Limitations are cross-sectional design, self-reported data, measurement of a limited number of leader behaviors as representative of leader positive and negative behaviors, and focus on only one dependent construct (subordinate job satisfaction).

Above a certain point, leaders’ positive behaviors have limited effect on increasing subordinates’ job satisfaction. Likewise, leaders’ negative behaviors decrease subordinates’ job satisfaction only above specific levels of leader behaviors.

The authors challenge this notion of linearity by theorizing and demonstrating that subordinates’ job satisfaction is influenced by leader positive and negative behaviors in non-linear relationship characterized by an inverse-U-shaped and a specific increase and decrease pattern.

To forecast the path of tropic cyclones by using a non‐linear statistical forecasting technique – the method of successive analogy.

Non‐linear statistical forecasting models can describe the non‐linear relationship between the factors and the forecasting objects and the real atmospheric movement more accurately, so they usually have stronger forecasting capability. In practice, however, it is shown that the relationships between predictors and predictands sometimes are so complex that it is very difficult or even impossible to establish the kind of non‐linear mathematical model. Therefore, it is an important topic for atmospheric science to solve non‐linear prediction problem of atmospheric systems by using the non‐function model approach.

The objective and quantitative prediction of tropical cyclone moving path can be given by using the method of successive analogy, a non‐linear forecasting technique, and calculating the similarity parameters between the grayscale field and the height field.

Further experiments are needed to verify this technique.

A very useful technique for solving non‐linear problem.

Illustrates the new technique of solving non‐linear statistic problem and its application.

The relationship between corporate social responsibility (CSR) and financial performance (FP) has bourgeoned widespread debate among researchers. In recent years, the debate has explored more dynamic links, one of which is the curvilinear relationship, between CSR and FP. This paper aims to empirically test the curvilinear relationship between CSR and FP in the context of Indian companies.

This paper empirically tests the curvilinear relationship between CSR and FP in the context of Indian companies. The study used a panel data of 43 listed companies over a period of ten years from 2008 to 2017. A correlation and panel regression were carried out to examine the possible link.

The findings demonstrate that a curvilinear relationship exists between CSR and FP, suggesting that two long competing viewpoints may be complementary.

The study mainly focuses on top companies, so the generalizations of results to other small companies are unwanted.

An immediate managerial implication of the findings suggests that to serve the interests of the shareholders, a long-run planning and considerable resources should be dedicated at this direction, given that CSR expenditure does not pay off immediately.

In the Indian context, very few studies have analyzed the linkages between CSR and FP. Using an improved and distinctive approach, the study empirically tests the relationship between CSR and FP from non-linear perspective.

This study aims to examine how gender diversity within the CPA partnership team impacts the firm’s profit performance.

The authors use the two-stage least squares method in analyzing the gender–diversity–performance relationship using the pooled sample obtained from the National Survey Reports on Taiwan CPA firms between 1992 and 2008.

The authors observe a non-linear relationship between gender diversity at the partner level and profit performance. The relationship curves vary according to firm size. After identifying the point of inflexion for these curves, the findings indicate that the average gender diversity is below the inflexion point for large CPA firms, but exceeds the inflexion point for medium size firms.

According to the critical mass theory, increasing gender diversity within the partnership team can have a positive influence on the value of the firm. Hence, the authors argue that for large CPA firms in Taiwan, the proportion of female partners leaves room for improvement. If the average number of female partners could be increased by 0.95 persons, the critical mass would be attained.

The study provides the empirical evidence that increasing a CPA firm’s proportion of female partners positively impacts the firm’s profit performance. The findings serve a practical value as reference source for any further studies.

Prior studies examining the relation between the shareholdings by institutional investors and firm value have produced mixed results. These studies have assumed that a linear relation exists between corporate value and institutional shareholdings. The purpose of this study is to further investigate the nature of this relationship and by partitioning institutional investors into institutions that have appointed a representative to the board of directors of the firms in which they have a block investment and institutions with a similar holding but without a representative on the board of directors.

The study is based on a sample of 123 firms with available financial and institutional ownership data. A cross‐sectional regression analysis is used to test the relation between corporate value and institutional ownership with and without board representation.

The results of the study suggest that share ownership by investors with board representation is positively related to the value of the firm at lower levels of ownership. However, as the share ownership increases, the impact on the value of the firm becomes negative, giving rise to a non‐linear relation. The extent of shareholding by institutions without board representation, on the other hand, is not related to the value of the firm.

The findings show that institutions with board representation have greater incentives to monitor management, and therefore their presence should have a positive influence on firm value. However, at high levels of ownership, institutional investors with board representation may induce boards of directors to make sub‐optimal decisions.

The study provides a deeper understanding of the relationship between firm value and institutional ownership. That is, the effect of shareholding by institutions with board representation is likely to have a non‐linear relation with firm value.

The purpose of this paper is to examine the Dickens et al. model of bank holding company dividend policy. They identified five explanatory factors in a sample of bank holding companies (BHCs). Banking companies typically pay larger dividends and more often than industrial firms. Investors often look at the dividends as being important return variables.

In this study, a sample of 99 firms with 2006 data from governmental reports and Yahoo is used in regression equations to test the relationship of the five identified variables with dividend yields. The analysis is extended to investigate non‐linearities between dividend yield and insider ownership.

The paper finds that the original model is robust, but not all variables keep their significance. Insider holdings have a non‐linear relationship with dividend yields.

The significant factors affecting bank dividend policy help dividend seeking investors find BHCs that return higher dividend yields.

This paper reveals a non‐linear link between insider holdings and dividend yields among BHCs.

The paper reviews the application of the finite element method to the analysis of large‐deflection elasto‐plastic behaviour and traces the development of such a solution for plated structures. The accuracy of the approach is established by many comparisons with available solutions for isolated plates and conclusions are drawn on suitable idealizations for plated structures. The results of an analysis of a typical plate girder, allowing fully for the interaction between the component plates, are presented. Comparisons with experimentally measured values for the girder confirm the validity of the proposed approach for the study of the collapse modes of plated structures. The need for expensive experimentation is thereby reduced.