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Article
Publication date: 24 March 2022

Umar Nawaz Kayani

This paper aims to review and compare the conventional and Islamic perspectives of working capital management (WCM) to devise the best option of financing for managing…

Abstract

Purpose

This paper aims to review and compare the conventional and Islamic perspectives of working capital management (WCM) to devise the best option of financing for managing working capital (WC) in South Asia. The paper also aims to help the business world for running its operations more smoothly by devising an alternative source of financing especially during crises such as the global financial crisis 2008 and the COVID-19 pandemic.

Design/methodology/approach

The divergence approach is used for a critical analysis of existing literature to derive the best possible alternative to the conventional system of financing.

Findings

This paper identifies that Islamic financing is an appropriate mode of financing as compared to conventional financing for meeting WC requirements in South Asia. Furthermore, under Islamic financing, the best available alternative way for managing WC needs is the Mudarabah Islamic mode of financing.

Research limitations/implications

This is a theoretical paper and thus does not include empirical results.

Practical implications

This paper provides conventional and Islamic perspectives of WCM. The Islamic banks in South Asia may devise policies to encourage and convenience firms for using Mudarabah mode for meeting their WC needs instead of conventional sources. This paper also identifies that small and medium enterprises may be targeted by Islamic banks in Asian markets for providing funds for their smooth operations especially during a financial crisis when conventional banks refuse to lend. This will help managers to run businesses more efficiently and effectively especially during any kind of financial crisis in the future.

Originality/value

To the best of the author’s knowledge, this is the first study that studies the relationship between WCM and Islamic financing in comparison to conventional financing. Although prior studies identify an alternative to conventional financing as Islamic financing, no one studied while considering the WC as the main variable. This paper informs practitioners and researchers about a “state of the art” Islamic perspective of WCM.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 11 June 2020

Syed Arslan Haider and Umar Nawaz Kayani

The purpose of this study is to examine the relationship between the customer knowledge management capability (CKMC) on project performance through strategic agility in…

1240

Abstract

Purpose

The purpose of this study is to examine the relationship between the customer knowledge management capability (CKMC) on project performance through strategic agility in the context project based software companies of Pakistan. The aim of the paper is to find out whether and how is customer knowledge beneficial for project performance and recognized as the important source of advancement of the knowledge management (KM) theory and the essential subject in practical ground.

Design/methodology/approach

In this study, non-probability, simple random sampling method was used to collect the data because it excludes bias from the data collection process. Although, the population of this research includes 307 employees working in different 30 public and private projects based software firms, operating in twin cities Rawalpindi, Islamabad. The respondents are project supervisors, team members, customers working on these different projects. Because of time limitation data has been collected within four months (i.e. November 2018 to February 2019) for this study, it is not time-lagged study and the data were collected at one time, so the design is cross-sectional in nature. The analysis was established using partial least squares-structural equation modeling (Smart PLS-SEM v.3.2.8) software to test hypotheses.

Findings

The results revealed the structural equation modeling that the components creating, transferring, integrate and influence ensure the most significant job in clarifying the customer knowledge and enhancing the capability to understand the customer needs and want which lead to decrease project delay, over consumption of the budget and directly lead to increase the project performance. The analyzed results also successfully justified the gap of this research study by showing the significant relationship between CKMC and project performance, also the indirect effect of CKMC through strategic agility on project performance more than its direct effect. So, the strategic agility plays positive and significant mediating role between CKMC and project performance, therefore the all sub-hypothesis and primary hypothesis were accepted.

Originality/value

This study sets the context with a brief summary of the key characteristics of the CKMC to improve the new product performance, enhance product/service quality, also reduce costs and enhance the competitiveness of organizations. Organization ought to acknowledge how to use KM to generate their revenues and achieve their goals. However, available techniques and methodology to measure the sufficiency are dissatisfying and consistent need for assessments and evaluations of this issue are felt.

Details

Journal of Knowledge Management, vol. 25 no. 2
Type: Research Article
ISSN: 1367-3270

Keywords

Article
Publication date: 16 April 2018

Rashid Zaman, Stephen Bahadar, Umar Nawaz Kayani and Muhammad Arslan

The purpose of this paper is to examine the impact of corporate governance, with particular reference to the role of independent directors on boards and audit committees…

Abstract

Purpose

The purpose of this paper is to examine the impact of corporate governance, with particular reference to the role of independent directors on boards and audit committees, and media coverage on corporate transparency and disclosure. In addition, the paper also investigates the role of the media on independent directors’ behaviours towards corporate transparency and disclosure.

Design/methodology/approach

The paper uses the well-developed two-step system generalised method of moments approach on a sample of 99 Pakistan stock exchange (PSX) listed financial firms over the period 2007-2012.

Findings

The empirical analysis shows that media and independent directors on audit committees play a significant positive role in line with agenda setting and agency theories in promoting corporate transparency and disclosure. On the contrary, the boards’ independent directors are risk-averse and hold the information to protect their reputation. Nevertheless, the study does not find any significant influence of media coverage on independent directors’ behaviours in promoting corporate transparency and disclosure.

Practical implications

The findings provide some useful insight into cost benefits analysis of media coverage towards an understanding of independent directors’ behaviours for promoting transparency and disclosure in financial sector. Moreover, the study findings can be useful for both shareholders and stakeholders in taking decisions about firm activities.

Originality/value

To the best of the authors’ knowledge, this is the first study that proposed and tested a multi-level framework for corporate transparency and disclosure practices. In addition, this study is also among the very few studies that use financial sectors as a sample, in particular, and media coverage, specifically, thus adding some value to the limited literature.

Details

Corporate Governance: The International Journal of Business in Society, vol. 18 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 29 July 2019

Umar Nawaz Kayani, Tracy-Anne De Silva and Christopher Gan

This paper aims to provide a review of the existing literature available on working capital (WC) and working capital management (WCM).

Abstract

Purpose

This paper aims to provide a review of the existing literature available on working capital (WC) and working capital management (WCM).

Design/methodology/approach

A systematic literature review (SLR) methodology is used to review 187 articles selected from referred journals, books and international conferences for the period 1980-2017.

Findings

This comprehensive review reveals that much of the focus in the existing literature is paid on investigating the empirical relationship between WCM and firm performance. Furthermore, the attention has been paid towards studying the WC practices. The behavioural aspects, qualitative studies, survey studies and systematic theory development have been ignored in most of the prior studies. These areas have a broader scope for future research.

Research limitations/implications

This study is based on literature review and theoretical in nature. Therefore, it does not have any empirical results.

Practical implications

So far, a limited literature review studies have been conducted in WCM perspective. This review provides various emerging trends, which may be considered in future research for providing a deep understanding of WCM.

Originality/value

This is the first time a detailed review of WCM literature has been conducted by using SLR for the period of 1980-2017. This review will be useful for researchers, business policymaker, finance professionals and all other having direct or indirect concerns with WCM study.

Details

Qualitative Research in Financial Markets, vol. 11 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Content available
Article
Publication date: 8 March 2021

Tugrul Daim, Marina Dabic and Edwin Garces

407

Abstract

Details

Journal of Knowledge Management, vol. 25 no. 2
Type: Research Article
ISSN: 1367-3270

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