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This study aims to test mutual fund superiority, comparing the performance of 646 Islamic mutual funds with 475 ethical funds and conventional proxies.

This study uses statistical methods including paired t-statistics of independent samples, one-way Bonferroni test–analysis of variance–F-statistic for testing means equality, the chi-squared test for median equality and regression models corrected for heteroscedasticity. These methods are used to identify superiority of mutual funds and to validate the significance of the results.

The findings confirm the superiority of conventional funds over ethical funds and ethical funds over Islamic funds. Both ethical and Islamic funds, however, outperform conventional proxies during some recessionary periods. Moreover, stronger performance is recorded for Islamic funds in Europe and North America regions and across age and asset allocation categories, but limited support for reversal fund size, composition focus and reversed price effect.

These findings should assist investors when deciding to invest and motivate Islamic and ethical funds to improve their portfolio formation and asset allocation strategies set by their professional managers.

The originality of this study is in its comprehensive approach in that it compares the performance of funds after accounting for such characteristics as fund objectives, size, age, asset allocation, geographical investment focus, fund composition focus, share price levels and the effect of global crises. This study approach is not only original and productive in documenting Islamic funds’ performance for the past three decades (1990–2022) but can also update the literature on these characteristics collectively and individually.

Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact on the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between alternative oil market models, let alone the basis for the sometimes divergent conclusions reached in the literature. The purpose of this survey is to provide a guide to this literature. Our focus is on the econometric foundations of the analysis of oil market models with special attention to the identifying assumptions and methods of inference.

The purpose of this study is to determine the effects of the psychosocial work environment on the turnover of civil service cadre officers in rural areas in Bangladesh.

Physical intimidation, mental health and well-being, organisational impediments, decision latitude, psychological job demands and social interaction were developed as variables to examine in relation to job satisfaction and turnover. This study gathers 406 responses from Bangladesh Civil Service (BCS) cadre officers in rural areas to test the hypotheses.

The findings indicate that physical intimidation increases employee turnover, whereas psychosocial job demand decreases it. Physical intimidation reduces job satisfaction, whereas decision flexibility and social interaction enhance job satisfaction, hence reducing the turnover of civil service cadre officers in rural Bangladesh.

This research contributes to the creation of context-specific and targeted public sector support, particularly the interventions and policies addressing the work environment in rural areas.

A major source of external funding for US airports comes from issuing municipal bonds. Credit rating agencies evaluate the bonds using multiple factors, but the judgments behind the ratings are not well understood. This paper examines if airport rate-setting methods affect the bond ratings of US airports.

Using a set of unbalanced panel data for 58 hub airports from 2010 to 2019, we examine the effect of the rate-setting methods and other airport characteristics on Fitch’s airport bond rating.

We find that compensatory airports consistently receive a very high bond rating from Fitch. The probability of getting a very high Fitch rating increases by ∼28 percentage points for a compensatory airport. Additionally, the probability of getting a very high rating is about 33 percentage points higher for a legacy hub.

The study uses Fitch bond ratings. Future studies could examine if S&P’s and Moody’s ratings are also influenced by airport rate-setting methods and legacy hub status.

The results uncover the linkage between bond ratings and their determinants for US airports. This information is important for investors when assessing airport creditworthiness and for airport operators as they manage capital project financing.

This is the first study to evaluate the effects of rate-setting methods on airport bond rating and also the first to document a statistically significant relationship between airports’ legacy hub status and bond ratings.

The purpose of this study is to provide information on how citizens in nine countries across Europe perceive egg product quality and the importance of a product's sustainability attributes (animal welfare, country of origin and production method) in egg purchases.

The data were gathered in 2021 via an online survey in nine European countries (Finland, the United Kingdom, France, Italy, Belgium, Germany, the Netherlands, Romania and Denmark). A total of 3,601 responses were collected. As methods of analysis, exploratory factor analysis (EFA), independent samples t-test, paired samples t-test and one-way analysis of variance (ANOVA) were conducted when investigating the quality dimensions of egg products and the differences amongst the sociodemographic groups.

Citizens in European countries considered animal welfare aspects, production method and country of origin important when purchasing egg products. Citizens' perceived quality of egg products was related to two dimensions (i.e. product properties and responsible production), and there were differences in perceptions by sociodemographic groups (i.e. age, gender, education and country of residence). Responsible production was most valued by younger women with higher education. Also in the Netherlands and Romania, citizens had stronger preferences for product properties compared to responsible production, whilst in Germany, responsible production was appreciated more than product properties.

The study provides new information on citizens' perceived egg product quality and the role of a product's sustainability attributes in egg purchases. Furthermore, the results bring novel insights on the differences in perceptions amongst citizens living in nine European countries.

The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses the Islamic perspectives on minimum wage and examines contemporary challenges and intricacies in its application.

This study uses thematic analysis to create the conceptual framework, drawing upon a review of pertinent literature such as academic papers, books and articles published up to 2023.

The framework encompasses various categories, namely, employee characteristics, job characteristics, market factors, compensation practices and Islamic principles. Each category consists of multiple variables. The resulting framework offers a holistic and ethically grounded methodology for wage determination, aligning with both Islamic and conventional perspectives. This study notes the absence of a universally agreed-upon minimum wage. Islamic economics faces challenges due to the unclear application of principles, limited awareness, legal constraints and a lack of empirical evidence on wage systems, along with complexities in their implementation.

The paper’s limited scope focuses solely on the Islamic perspective on wage determination, without comparing it to the conventional viewpoint. This may have implications for future research.

The insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.

This study is distinct in its integration of various factors to propose an all-encompassing framework for wage determination, rooted in the Quran and principles, while also reinforcing the framework with conventional theories. Additionally, it adds to the growing body of literature by investigating the Quran’s stance and principles on minimum wage, as well as discusses the challenges involved in implementing an Islamic approach to wage determination, which has received limited attention in Islamic literature.

The purpose of this study is to investigate how a higher status of one stakeholder group relates to the outcomes of stakeholder–organization relationship with other lower status stakeholder groups.

This conceptual paper uses insights from resource dependence theory while applying the tenets of social dominance theory (SDT) to develop a model with testable propositions explaining the variability with regard to stakeholder dominance and the resulting outcome in terms of (un)favorable organizational responsiveness to other stakeholder demands.

Firm’s behavior or decisions regarding a particular stakeholder group may be influenced by dominant hierarchical status of another stakeholder group if the latter considers that their respective interests are misaligned and is not willing to compromise. The argument build in this paper indicates that it is likely that the influence of the dominant stakeholder group will undermine stakeholders from a subordinate group.

This paper contributes to two distinct literature streams. First, this paper extends research on stakeholder responsiveness exploring the triadic relationship, particularly focusing on stakeholders’ perspective that has been given much less attention in prior literature. Second, this paper extends the application of the SDT to a stakeholder relationship context potentially allowing for a more parsimonious theory.

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

Given the rapid growth in efforts on misinformation correction, the study aims to test how evidence type and veracity interact with news agreement on the effectiveness of fact-checking on how well a corrective message discount a false news information.

Experimental participants (N = 511) in Hong Kong were exposed to the same news article and then to a piece of corrective information debunking the news article with variation in the types of evidence (numerical vs narrative) and veracity (no verdict vs half false vs entirely false) in 2019.

Among the participants who disagreed with the news article, numerical fact-checking was more effective than narrative fact-checking in discounting the news article. Some evidence of the backfire effect was found among participants for whom the article was attitude incongruent.

When debunking false information with people exposed to attitude-incongruent news, a milder verdict presented in the form of a half-false scale can prompt a more positive perception of the issue at stake than an entirely false scale, implying that a less certain verdict can help in mitigating the backfire effect compared to a certain verdict.

Degree apprenticeships in the UK have grown exponentially since they were introduced. While claims and speculations about their impact have been made by high-profile politicians, lobbyists and training providers, the evidence base for these claims has never been systematically scrutinised. The purpose of this paper is to analyse and present up-to-date peer-reviewed evidence on the impact of degree apprenticeships on social mobility and productivity and their influence on future policy.

The authors critically and systematically review over 4,000 data points from relevant sources and synthesise the results qualitatively and quantitatively with a combined method approach. Quantitative evidence has been aggregated where possible and tested for statistical significance. Qualitative evidence has been critically reviewed and comparatively analysed.

The analysis reveals that there is a shortage of depth and breadth of concrete and peer-reviewed evidence on the impact of degree apprenticeships. Nevertheless, existing data demonstrate that degree apprenticeships are meeting their intended purpose of contributing positively to the UK Government’s high-level goals for productivity and social mobility. They are an alternative route into higher education and serve as a vital talent pipeline providing opportunities for young people, existing employees and learners from diverse backgrounds.

This paper provides the first systematic and peer-reviewed synthesis of the impact of degree apprenticeships. It brings together existing evidence and statistically validates outcomes to inform researchers, educators, training providers, policymakers and other stakeholders in their recommendations moving forward.