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Ever since the publication of the original Jegadeesh and Titman (1993) study, momentum effect has been tested vigorously to validate its pervasiveness for different time periods and across different markets. In spite of numerous out-of-sample tests, there is one apparent alibi – little research has been devised for steady increasing of Shari’ah compliant stocks.

This study is to examine the momentum strategy returns in a global Shari’ah compliant stock setting.

It finds strong presence of stock momentum returns for Pakistan and Malaysia. And the momentum returns are neither driven by industry momentum nor by the small size stocks. Though no momentum profits are found for the portfolios formed by global Shari’ah compliant stocks, this seems to be largely due to return reversal for the small size Shari’ah compliant stocks.

The strong presence of momentum profits for relatively large Shari’ah compliant stocks is a desirable trait as it indicates that the momentum trading strategies are practical and implementable.

Purpose – This article describes a theoretical model that allows understanding, explaining, and measuring the perceived organizational effectiveness of multinational coalition operations’ headquarters.

Design/methodology/approach – The proposed model is based on subject matter experts’ opinions and on existing general and military models of organizational effectiveness. It is tailored to the particular case of coalition operations’ headquarters.

Findings – The model includes input factors such as structure and processes, people and organizational culture as well as the operative and official goals of the organization. It especially emphasizes the degree of fit, or alignment, among them.

Originality/value – This comprehensive model provides a solid basis for (a) capturing the perceived effectiveness of people deployed in such headquarters, (b) for determining influencing factors in order to identify barriers and, if required, (c) for deducing improvement opportunities for organizational effectiveness of these coalition operations’ headquarters.