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1 – 10 of 10Mahdi Ghaemi Asl, Rabeh Khalfaoui, Hamid Reza Tavakkoli and Sami Ben Jabeur
This study aims to investigate the relationship between stock markets, environmental, social and governance (ESG) factors and Shariah-compliant in an integrated framework.
Abstract
Purpose
This study aims to investigate the relationship between stock markets, environmental, social and governance (ESG) factors and Shariah-compliant in an integrated framework.
Design/methodology/approach
The authors employ the multivariate factor stochastic volatility (mvFSV) framework to extract the volatility of the different sectoral indices. Based on this evidence, the authors employ the quantile vector autoregressive (QVAR) approach to examine the dynamic spillover connectedness among the aforementioned indices.
Findings
The study emphasizes the following major findings: (1) significant time-varying spillover connectedness across quantiles, (2) bidirectional and asymmetric spillover effect among the ESG index and the other sectoral indices, (3) the strength of spillover connectedness is time-varying across quantiles, (4) based on the perspective of portfolio optimization, ESG market is a significant strong forecasting contributor to conventional and Shariah-compliant markets, (5) overall, the findings point out serious quantile pass-through effect among ESG index and the other sectoral indices during the COVID-19 health crisis.
Originality/value
This study extends the previous literature in the following ways. First, to the best of the researchers’ knowledge, none of the existing studies have investigated the relationship between stock markets, ESG factors and Shariah-compliant in an integrated framework. Second, this study extends the previous scholarships by applying the mvFSV. Third, the authors propose a new rolling version to estimate dynamic spillovers, namely the rolling-window quantile VAR method. This approach provides a great advantage in computing the dynamics of return and variance spillover between variables in terms not only of the overall factor but also of the net (pairwise) aspect.
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Nian Lim (Vic) Lee, Mohamed Sami Khalaf, Magdy Farag and Mohamed Gomaa
This paper aims to investigate the impact of the implementation of the critical audit matters (CAMs) disclosure requirement and the subsequent relationship between CAM disclosures…
Abstract
Purpose
This paper aims to investigate the impact of the implementation of the critical audit matters (CAMs) disclosure requirement and the subsequent relationship between CAM disclosures and audit report lag, as well as audit fees in the USA.
Design/methodology/approach
This study used difference-in-differences analyses to investigate the impact that the implementation of the requirement for auditors to report CAMs on their audit report has on the audit process. It also used levels regression models to examine the relationship that CAM disclosures have with audit report lag and audit fees.
Findings
This study found that the implementation of the CAM disclosure requirement in the USA reduced audit report lag while not significantly affecting audit fees. This suggests that the CAM disclosure requirement may increase the cooperation between auditors and managers and improve the efficiency of the audit process.
Practical implications
This study’s results are informative for assessing the economic impact of requiring CAM disclosures, which should be of importance to regulators, auditors and accounting researchers.
Originality/value
This study used different approaches to investigate two aspects of the CAM disclosure requirement – the effect of the implementation of the disclosure requirement and the subsequent effects related to CAM reporting outcomes. Unlike many previous studies investigating CAM disclosures, which relied on experiments and questionnaires, this study used actual CAM disclosure data in the USA to investigate the impact on audit report lag and audit fees.
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Gamal Elsamanoudy, Naglaa Sami Abdelaziz Mahmoud and Platon Alexiou
This paper argues that cultures with the same climate have similar handicrafts as they have similar cultivation and identical raw materials. This study focuses on how mountainous…
Abstract
Purpose
This paper argues that cultures with the same climate have similar handicrafts as they have similar cultivation and identical raw materials. This study focuses on how mountainous, coastal and hot regions partaking in similar crafts and cultural heritage use palm leaves and analyses the resulting handicrafts' similarities.
Design/methodology/approach
A review of mapping these samples establishes this similarity in the traditional industries of some civilizations' cultural heritage from countries sharing similar climates.
Findings
The handwoven crafts using palm leaves were significant patrimonial artifacts in different societies' and communities' cultural heritage. Our studies revealed that climate plays an active role in influencing all aspects of humanity’s life. It affects the construction methods and style, agriculture and lifestyles.
Research limitations/implications
Traditional handwoven palm leaf product models, especially plates and baskets, are studied from South America, Africa, Gulf Countries and Asia.
Practical implications
Additionally, this paper focuses on preserving these treasures as an essential part of interior elements as accessories for most inhabitants of these areas.
Social implications
Cultural heritage also embraces intangible aspects such as skills passed down through generations within a particular society. The tangible and intangible elements complement each other and contribute to an overall legacy.
Originality/value
Cultural heritage reflects a society’s way of life carried down through the years across lands, items, customs and aesthetic concepts. People are the gatekeepers of society, as they preserve their way of life for future generations to emulate. Tangible artistic and cultural heritage comprises artifacts. It comprises all human evidence and expressions, such as traditional handicrafts, pictures, documents, books and manuscripts.
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Isma Zaighum, Qaiser Abbas, Kinza Batool, Shehar Bano and Syed Murtaza Sajjad
Intellectual capital (IC) plays a pivotal role in determining corporate risk profiles in the contemporary knowledge era. Consequently, this study aims to analyze the impact of IC…
Abstract
Purpose
Intellectual capital (IC) plays a pivotal role in determining corporate risk profiles in the contemporary knowledge era. Consequently, this study aims to analyze the impact of IC on firm risk (FR) among the manufacturing companies listed on the Pakistan Stock Exchange (PSX).
Design/methodology/approach
The authors have adopted the modified value-added intellectual model which combines human capital efficiency, structural capital efficiency, efficiency of capital employed and relational capital efficiency. FR has been used as the dependent variable, measured as the standard deviation of the daily stock prices. The study has used panel data from a sample of 40 manufacturing companies listed in the KSE-100 Index from 2015 to 2021.
Findings
The results suggest that IC has a significant impact on the FR of manufacturing companies listed on the benchmark index of PSX. Moreover, this relationship is direct; thus, an increase in IC would also increase FR measured by the change in stock prices.
Research limitations/implications
The current study has only used linear techniques. Future researchers may consider investigating the impact of IC at varying levels of FR using nonlinear techniques.
Practical implications
This study provides corporate managers and policymakers valuable insight into the need to strike a balance between investment in IC and their FR, particularly in an emerging market context.
Originality/value
IC is frequently associated with firm performance. However, the relationship between IC and FR has generally been underexplored. This study adds to the strand of limited IC literature by investigating the impact of a modified IC model on FR in an emerging economy.
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Samuel Osei-Gyebi and John Bosco Dramani
The purpose of this study is to analyze the nonlinear relationship between electricity consumption (EC) and electricity transmission losses (ETL) in Ghana. Also, we examined how…
Abstract
Purpose
The purpose of this study is to analyze the nonlinear relationship between electricity consumption (EC) and electricity transmission losses (ETL) in Ghana. Also, we examined how ETL moderate the effect of EC on economic growth in Ghana from 1980 to 2021.
Design/methodology/approach
We used timeseries data from 1980 to 2021 within an autoregressive distributed lag framework to analyze the links among ETL, EC and economic growth in Ghana.
Findings
Findings show the existence of an asymmetric long-run relationship between EC and ETL. Also, the negative effects of ETL on EC are bigger in the long run. In addition, ETL and EC combine to reduce economic growth, in the long run, providing evidence for the energy-led growth theory in Ghana. Population and inflation were also found to have a significant effect on economic growth in Ghana.
Originality/value
We examined the nonlinear nexus of EC and ETL, which extant studies have ignored in discussing the link between EC and economic growth. Again, we showed that ETL reduces EC causing a reduction in economic growth.
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Muhammad Mumtaz Khan, Muhammad Shujaat Mubarik, Syed Saad Ahmed and Tahir Islam
This study aims to ascertain the role of servant leadership in affecting the knowledge hiding behavior of employees. This study also unfurled the mediating role of prosocial…
Abstract
Purpose
This study aims to ascertain the role of servant leadership in affecting the knowledge hiding behavior of employees. This study also unfurled the mediating role of prosocial motivation and moderating role of cynicism.
Design/methodology/approach
The data were collected from 324 employees working in the IT sector, a subsector of the service sector of Pakistan in two phases. The data was analyzed through hierarchal regression.
Findings
This study found servant leadership to be negatively related to knowledge hiding behavior. This study also confirmed the mediating role of prosocial motivation linking servant leadership to knowledge hiding. Finally, cynicism was found to moderate the relationship between servant leadership and knowledge hiding behavior.
Originality/value
This academic endeavor has confirmed the previously unexplored relationship between servant leadership and knowledge hiding behavior. Additionally, the study has explicated the mediating role of prosocial motivation in the said relationship. This study has also found that the relationship between servant leadership and knowledge hiding is moderated by organizational cynicism.
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Muhammad Talha Khan, Muhammad Dawood Idrees and Yaseen Haider
The aim of this study is to investigate how green supply chain management (GSCM) practices mediate the effect of Industry 4.0 technologies on operational and green innovation…
Abstract
Purpose
The aim of this study is to investigate how green supply chain management (GSCM) practices mediate the effect of Industry 4.0 technologies on operational and green innovation performances.
Design/methodology/approach
To explore the study, data were collected from 225 different manufacturing industries in Pakistan. Gathered data were used to test the hypotheses using SmartPLS 3 software by using structural equation modeling.
Findings
The findings reveal that operational and green innovation performances are directly affected by the adoption of Industry 4.0 technologies and GSCM practices. Furthermore, the GSCM practices positively affect operational and green innovation performances. The study also investigated that the GSCM practices partially mediate the effect of Industry 4.0 on operational and green innovation performances.
Research limitations/implications
This study has some limitations, the data of this study were majorly collected from large enterprises of Pakistani firms and related to the manufacturing sector only. So, there is a huge need for attention toward small and medium-sized enterprises (SMEs). Very few researchers are focusing on SMEs, so future research can be on SMEs. It can be suggested that the relationship between digital technologies and green innovation performance can be tested through a quantitative procedure. Moreover, the effect of GSCM's aspects can be estimated on manageable execution.
Originality/value
Through the mediating relationship of GSCM practices, this research has made a unique contribution by investigating the influence of Industry 4.0 on operational and green innovation performances. To the author's knowledge, no research has been undertaken in this area.
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An effective corporate governance system helps to smoothly run business operations and manage financial matters. To ensure that management behavior is ethical, and their decisions…
Abstract
Purpose
An effective corporate governance system helps to smoothly run business operations and manage financial matters. To ensure that management behavior is ethical, and their decisions are in the best interest of shareholders, corporate governance plays a vital role. This study aims to examine the impact of corporate governance on the insider trading profitability of listed banks in Pakistan, Bangladesh and India.
Design/methodology/approach
The authors take data from the financial statements of 70 listed banks and stock exchanges of the respective countries. The period of the data for our study is from 2010 to 2020. The authors use board independence, the board size, institutional ownership and managerial ownership as measures of corporate governance characteristics. While inside trading profitability is measured with abnormal returns. The authors apply the fixed effect panel regression for hypothesis testing and the two-step dynamic panel system-generalized method of moments (GMM) regression technique for checking the robustness of the findings.
Findings
The authors found that corporate governance has a significant impact on insider trading profitability in Pakistan, Bangladesh and India. Board independence and institutional ownership are negatively related while board size and managerial ownership are positively associated with insider trading profitability.
Originality/value
To the best of our knowledge, this study is the first one to explore the role of corporate governance in limiting insider trading on South Asian banks. It recommends that corporations should follow the code of corporate governance for the protection of shareholders' and other investors' profits.
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Daniel E. Ufua, Fawwad M. Butt and Mamdouh Abdulaziz Saleh Al-Faryan
This study aims to explore the effect of whistleblowing and interpretation among practitioners in the Nigerian economy. The research puts a premium on understanding the relevance…
Abstract
Purpose
This study aims to explore the effect of whistleblowing and interpretation among practitioners in the Nigerian economy. The research puts a premium on understanding the relevance and critical issues in its practices and developing an improved model for the effective practice of whistleblowing and interpretation in Nigeria.
Design/methodology/approach
This study adopted a conceptual approach, relying on extant literature to understand the management of whistleblowing incidents and identify the managers’ and other stakeholders’ responsibility in the whistleblowing process. It applied systems dynamics conceptual modelling and presented an improvement approach to addressing the complexities associated with whistleblowing and interpretation among Nigerian organizations.
Findings
This study contributed to the extant literature by developing a model for proper management of whistleblowing in the Nigerian context and enhancing the robust practice of whistleblowing and interpretation in Nigeria. The findings highlighted critical factors such as managers’ skills development, legal system support, institutional stakeholders’ function and ethical balance as key factors to effective whistleblowing management and interpretation. This implies that the act of identifying and developing responses to an emerging case of whistleblowing requires a process of developing underpinning assumptions, engagement and consideration of stakeholders’ interests while driving the sustenance of organizational focus.
Originality/value
This study emphasized the departure from absolute best practice to developing idea approaches that reflect stakeholders’ interests and the context of whistleblowing and interpretation. While the study acknowledges limitations in the sole focus on the Nigerian private sector and the Nigerian economic background, it recommends further exploration of whistleblowing and its interpretation on a comparative approach, to improving the current understanding of the topic.
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This paper aims to examine the effect of conditional conservatism on audit fees and whether the firm’s engagement in sustainable practices moderates the relationship between…
Abstract
Purpose
This paper aims to examine the effect of conditional conservatism on audit fees and whether the firm’s engagement in sustainable practices moderates the relationship between conditional conservatism and audit fees.
Design/methodology/approach
Using a sample of 3,767 firm-year observations from 14 European Union countries over the period of 2006–2019, the authors adopt the ordinary least square estimator to perform a panel data analysis of the effect of conditional conservatism on audit fees, and the moderating role of the environmental, social and governance (ESG) scores on the relationship between conditional conservatism and audit fees.
Findings
The authors find that conditional conservatism has a significant negative effect on audit fees, suggesting that auditors charge lower audit fees on more conservative clients. The authors also find that firms engaging in ESG actions, whether combined or individual, pay higher audit fees. More interestingly, the authors provide evidence that the negative effect of conditional conservatism on audit fees is mitigated only when ESG performance is considered in combination. This implies that firms exhibiting less commitment to ESG sustainability practices are prone to paying reduced audit fees when engaged in more conservative reporting. The findings remain robust after conducting a battery of tests.
Practical implications
The findings of this study have practical implications for several parties, including companies, auditors and regulators. This study emphasizes the potential benefit associated with using conservative accounting practices in terms of shaping downward the amount of audit fees. However, it also highlights the importance of considering the additional audit costs associated with higher ESG scores when making decisions about implementing sustainable practices.
Originality/value
Unlike prior studies that investigate the direct impact of sustainable practices on audit fees, the present work contributes to the literature on the benefits and costs of ESG by examining the moderating role of ESG performance in the association between audit fees and conditional conservatism. To the best of the authors’ knowledge, this study is the first to examine this relationship. Theoretically, the research integrates the theories of audit risk and agency to provide a more comprehensive understanding of the drivers of audit fees.
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