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1 – 10 of 124Zainab Batool Rizvi, Chaudry Bilal Ahmad Khan and Michael O’Sullivan
This paper aims to explore key management actions for implementing security on the cloud, which is a critical issue as many organizations are moving business processes and data on…
Abstract
Purpose
This paper aims to explore key management actions for implementing security on the cloud, which is a critical issue as many organizations are moving business processes and data on it. The cloud is a flexible, low cost and highly available technology, but it comes with increased complexity in maintaining the cloud consumer’s security. In this research, a model was built to assist strategic decision-makers in choosing from a diverse range of actions that can be taken to manage cloud security.
Design/methodology/approach
Published research from 2010 to 2022 was reviewed to identify alternatives to management actions pertaining to cloud security. Analytical hierarchical process (AHP) was applied to rate the most important action(s). For this, the alternatives, along with selection criteria, were summarized through thematic analysis. To gauge the relative importance of the alternatives, a questionnaire was distributed among cloud security practitioners to poll their opinion. AHP was then applied to the aggregated survey responses.
Findings
It was found that the respondents gave the highest importance to aligning information security with business needs. Building a cloud-specific risk management framework was rated second, while the actions: enforce and monitor contractual obligations, and update organizational structure, were rated third and fourth, respectively.
Research limitations/implications
The research takes a general view without catering to specialized industry-based scenarios.
Originality/value
This paper highlights the role of management actions when implementing cloud security. It presents an AHP-based multi-criteria decision-making model that can be used by strategic decision-makers in selecting the optimum mode of action. Finally, the criteria used in the AHP model highlight how each alternative contributes to cloud security.
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This paper aims to document the effect of shariah compliance on stock price synchronicity.
Abstract
Purpose
This paper aims to document the effect of shariah compliance on stock price synchronicity.
Design/methodology/approach
This paper uses the data of non-financial firms from India and various estimation procedures (pooled OLS and instrument variable regression) to test the arguments presented in this paper. The time period of the study ranges between 2000 and 2019.
Findings
The results show that shariah-compliant firms have significantly higher levels of synchronicity than non-compliant firms. The findings hold after comprehensive inclusion of relevant controls and to a number of sensitivity tests. The authors attribute this result to the unique financial characteristics (lower levels of leverage, liquidity and cash) of shariah-compliant firms. The paper argues that these characteristics are related to better information environment which is responsible for higher levels of synchronicity. The paper also shows that the difference in the synchronicity levels of the two groups is less pronounced for those shariah-compliant firms that have relatively high levels of leverage and cash ratios.
Originality/value
The authors believe that this is an initial attempt to document the impact of shariah compliance on stock price synchronicity.
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Sana Braiek and Houda Ben Said
This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.
Abstract
Purpose
This study aims to empirically explore and compare the dynamic dependency between health-care sector and Islamic industries before, during and after the COVID-19 pandemic.
Design/methodology/approach
Time-varying student-t copula is used for before, during and after COVID-19 periods. The data used are the daily frequency price series of the selected markets from February 2017 to October 2023.
Findings
Empirical results found strong evidence of significant impact of the COVID-19 pandemic on the dependence structure of the studied indexes: Co-movements between various sectors are certain. The authors assist also in the birth of new dependence structure with the health-care industry in response to the COVID-19 crisis. This reflects the contagion occurrence from the health-care sector to other sectors.
Originality/value
By specifically examining the Islamic industry, this study sheds light on the resilience, challenges and opportunities within this sector, contributing novel perspectives to the broader discourse on pandemic-related impacts on economies and industries. Also, this paper conducts a comprehensive temporal analysis, examining the dynamics before, during and after the COVID-19 lockdown. Such approach enables an understanding of how the relationship between the health-care sector and the Islamic industry evolves over time, accounting for both short-term disruptions and long-term effects. By considering the pre-pandemic context, the paper adopts a longitudinal perspective, enabling a deeper understanding of how historical trends, structural factors and institutional frameworks shape the interplay between the health-care sector and the Islamic industry.
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Ahlem Lamine, Ahmed Jeribi and Tarek Fakhfakh
This study analyzes the static and dynamic risk spillover between US/Chinese stock markets, cryptocurrencies and gold using daily data from August 24, 2018, to January 29, 2021…
Abstract
Purpose
This study analyzes the static and dynamic risk spillover between US/Chinese stock markets, cryptocurrencies and gold using daily data from August 24, 2018, to January 29, 2021. This study provides practical policy implications for investors and portfolio managers.
Design/methodology/approach
The authors use the Diebold and Yilmaz (2012) spillover indices based on the forecast error variance decomposition from vector autoregression framework. This approach allows the authors to examine both return and volatility spillover before and after the COVID-19 pandemic crisis. First, the authors used a static analysis to calculate the return and volatility spillover indices. Second, the authors make a dynamic analysis based on the 30-day moving window spillover index estimation.
Findings
Generally, results show evidence of significant spillovers between markets, particularly during the COVID-19 pandemic. In addition, cryptocurrencies and gold markets are net receivers of risk. This study provides also practical policy implications for investors and portfolio managers. The reached findings suggest that the mix of Bitcoin (or Ethereum), gold and equities could offer diversification opportunities for US and Chinese investors. Gold, Bitcoin and Ethereum can be considered as safe havens or as hedging instruments during the COVID-19 crisis. In contrast, Stablecoins (Tether and TrueUSD) do not offer hedging opportunities for US and Chinese investors.
Originality/value
The paper's empirical contribution lies in examining both return and volatility spillover between the US and Chinese stock market indices, gold and cryptocurrencies before and after the COVID-19 pandemic crisis. This contribution goes a long way in helping investors to identify optimal diversification and hedging strategies during a crisis.
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P. Raghavendra Rau and Ting Yu
Over the past two decades, the topics of Environmental, Social and Corporate Governance (ESG) and Corporate Social Responsibility (CSR) have attracted an increasing amount of…
Abstract
Purpose
Over the past two decades, the topics of Environmental, Social and Corporate Governance (ESG) and Corporate Social Responsibility (CSR) have attracted an increasing amount of interest, reflecting a growing sensitivity of investors and corporations towards environmental, social and governance issues.
Design/methodology/approach
This survey offers an overview of the academic literature on ESG/CSR through the lens of investors, institutions and firms. We first discuss the definitions of ESG and CSR and their relationship to each other.
Findings
We next describe how ESG is measured and note problems with the measurement of and quality of ESG data and discrepancies between different measures of ESG. We then turn our attention to investors, examining what types of investors invest in ESG and the role of institutional investors in ESG. From the firm's perspective, we discuss why firms themselves conduct ESG. We also summarize the literature on the impact of ESG on firms: how ESG affects firms' financing, disclosure and reporting activities and firm performance. Finally, we describe other consequences of the focus of ESG and CSR on firms and investors.
Originality/value
This survey offers an overview of the academic literature on ESG/CSR through the lens of investors, institutions and firms.
Aaron Fernstrom, Mary Margaret Frank, Samuel A. Lewis, Pedro Matos and John G. Macfarlane
The case examines the development and launch of an exchange-traded fund (ETF) based on JUST Capital's socially responsible corporate ranking methodologies. The case provides a…
Abstract
The case examines the development and launch of an exchange-traded fund (ETF) based on JUST Capital's socially responsible corporate ranking methodologies. The case provides a market overview of Environment, Social, and Corporate Governance (ESG) and socially responsible investing (SRI), what has driven growth in those areas worldwide, and several best-practice investment approaches. Following the overview, the case describes the founding and development of JUST Capital, explores JUST Capital's ranking methodologies, and presents the decision point faced by the CEO: requisite selection of one of three strategies in order for JUST Capital to generate “self-sustaining” revenue.
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This study aims to explore how females on committees (FOC) and committee ethnic diversity (CED) impact environmental, social and governance performance (ESGP).
Abstract
Purpose
This study aims to explore how females on committees (FOC) and committee ethnic diversity (CED) impact environmental, social and governance performance (ESGP).
Design/methodology/approach
This study examines 126 listed firms under the coverage of FTSE ESG Ratings in Bursa Malaysia between 2017 and 2019. This study applies partial least squares structural equation modeling (PLS-SEM) to examine the hypotheses. While the risk of common method variance is minimised using multiple data sources for the analysis, instrumental variable-free approach, i.e. Gaussian copula method which is implemented in SmartPLS 4.0 has been used to address the potential endogeneity of the model.
Findings
Empirical evidence demonstrates significant positive direct relationships between FOC and ESGP, as well as CED and ESGP. The argument of resource dependence theory and positive empirical results on the two direct relationships hold firm despite several committees being aggregated as one construct with the aim of providing different insights into the literature.
Practical implications
This study provides implications for firm leadership to consider reviewing the composition of committees by increasing female representation while striking a balance in the appointment of committee members of different ethnicities to enhance firm ESGP.
Originality/value
To the best of the author’s knowledge, this study adopts a holistic approach by capturing, for the first time, the female representation of audit, nomination, remuneration and risk management committees. These dimensions are further developed into a single quantifiable variable, presented as FOC. Similarly, the ethnic diversity of the respective committees is aggregated and developed into a single quantifiable construct: the CED. Unlike most existing studies that commonly use econometric software, the application of PLS-SEM in this study contributes to the limited body of corporate governance and ESG studies that use PLS-SEM.
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Connor Eichenauer and Ann Marie Ryan
Role congruity theory and gender stereotypes research suggests men are expected to engage in agentic behavior and women in communal behavior as leaders, and that role violation…
Abstract
Purpose
Role congruity theory and gender stereotypes research suggests men are expected to engage in agentic behavior and women in communal behavior as leaders, and that role violation results in backlash. However, extant gender and leadership research does not directly measure expectations–behavior incongruence. Further, researchers have only considered one condition of role incongruence – display of counter-role behavior – and have not considered the outcomes of failing to exhibit role-congruent behavior. Additionally, few studies have examined outcomes for male leaders who violate gender role prescriptions. The present study aims to address these shortcomings by conducting a novel empirical test of role congruity theory.
Design/Methodology/approach
This experimental study used polynomial regression to assess how followers evaluated leaders under conditions of incongruence between follower expectations for men and women leaders’ behavior and leaders’ actual behavior (i.e. exceeded and unmet expectations). Respondents read a fictional scenario describing a new male or female supervisor, rated their expectations for the leader’s agentic and communal behavior, read manipulated vignettes describing the leader’s subsequent behavior, rated their perceptions of these behaviors, and evaluated the leader.
Findings
Followers expected higher levels of communal behavior from the female than the male supervisor, but no differences were found in expectations for agentic behavior. Regardless of whether expectations were exceeded or unmet, supervisor gender did not moderate the effects of agentic or communal behavior expectations–perceptions incongruence on leader evaluations in polynomial regression analyses (i.e. male and female supervisors were not evaluated differently when displaying counter-role behavior or failing to display role-congruent behavior).
Originality/value
In addition to providing a novel, direct test of role congruity theory, the study highlighted a double standard in gender role-congruent behavior expectations of men and women leaders. Results failed to support role congruity theory, which has implications for the future of theory in this domain.
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Hedaia-t-Allah Nabil Abd Al Ghaffar
The purpose of this paper is to try to reach the main factors that could put national security at risk as a result of government cloud computing programs.
Abstract
Purpose
The purpose of this paper is to try to reach the main factors that could put national security at risk as a result of government cloud computing programs.
Design/methodology/approach
The paper adopts the analytical approach to first lay foundations of the relation between national security, cybersecurity and cloud computing, then it moves to analyze the main vulnerabilities that could affect national security in cases of government cloud computing usage.
Findings
The paper reached several findings such as the relation between cybersecurity and national security as well as a group of factors that may affect national security when governments shift to cloud computing mainly pertaining to storing data over the internet, the involvement of a third party, the lack of clear regulatory frameworks inside and between countries.
Practical implications
Governments are continuously working on developing their digital capacities to meet citizens’ demands. One of the most trending technologies adopted by governments is “cloud computing”, because of the tremendous advantages that the technology provides; such as huge cost-cutting, huge storage and computing capabilities. However, shifting to cloud computing raises a lot of security concerns.
Originality/value
The value of the paper resides in the novelty of the topic, which is a new contribution to the theoretical literature on relations between new technologies and national security. It is empirically important as well to help governments stay safe while enjoying the advantages of cloud computing.
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