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Studies on Islamic calendar anomalies in financial markets tend to apply quantitative analysis to historic share prices. Surprisingly, there is a lack of research investigating whether the participants of such markets are aware of these anomalies and whether these anomalies affect their investment practice. Or is it a case that these practitioners are completely unaware of the anomalies present in these markets and are missing out on profitable opportunities? The purpose of this paper is to analyse the views of influential participants within the Pakistani Stock Market.

The study documents the findings for 19 face-to-face semi-structured interviews conducted with brokers, regulators and high-net-worth individual investors in Karachi.

The paper’s major findings indicate that the participants believed that anomalies were present in the stock market and market participants were actively attempting to exploit these anomalies for abnormal gains. Interviewees suggested that predictable patterns can be identified in certain Islamic months (Muharram, Safar, Ramadan and Zil Hajj). The most common pattern highlighted by the interviews related to the month of Ramadan. Furthermore, interviewees mentioned the influence of the “Memon” community in the Pakistani Stock Market. Respondents also suggested that investor sentiment played an important role in influencing the stock market prices and trading patterns.

Because all the prior studies investigating Islamic calendar anomalies in Muslim-majority countries adopted quantitative method using secondary data, the current investigation is of particular value, as it focuses on the qualitative analyses and reports the views of market participants. This allows to fully explore the topic under investigation and to draw robust conclusions.

This paper aims to explore how sustainability practices were implemented in a higher education institution within a local setting in the Gulf and Arab Emirates Region. This study examined the impact of social and cultural requirements on the development of the master plan for the New Kuwait University campus with regards to sustainability to illustrate how current social and cultural requirements impact the design of a future learning environment whilst highlighting the essential role of organisational actors in this implementation process.

Using an in-depth case study approach, the authors conducted 21 semi-structured interviews with educators and administrative staff who had been involved in the sustainability implementation process at Kuwait University. These participants were involved at different stages in the implementation of a major sustainability project at Kuwait University. The interviews were further supplemented by analysing supporting documents and communications.

The analysis reveals that sustainability was embedded in a narrative that was repeated at the practice level; this directed the setting of objectives for the project and its various sub-tasks. It also helped actors to develop their understandings of practice and the importance of social emotions, self-intentions and patterns of culture in the process. This study further reveals that participants mainly focused on environmental issues regarding saving paper/electricity and overlooked aspects of a wider concepts and core values of sustainability, and there is a significant amount of lack of knowledge and awareness on matters about sustainability, especially with the understanding of its definition.

This study draws on practice-organisation framework used by Schatzki (2002, 2010), suggesting that sustainability implementation is a process led by rules, practical understanding, general understanding and teleoaffective structures, to highlight the role of agency and change among various actors in implementing sustainability. A practice-theory framing is used to signpost the roles played by various actors in establishing goals and tasks for the project while taking account of local understanding and independence in the implementation of sustainability practices. Engaging with practice theory framework offers us theoretical basis that is fundamentally different from the theories of interaction-oriented approaches in sustainable design.

Despite the importance and prevalence of corporate political activities in modern organizations, there remains limited insight on the potential relationship between political contributions and companies’ risk-taking activities. This study aims to examine the relationship between monetary political contributions of firms and corporate risk-taking activities in the context of unstable political and economic environments.

The authors use a two-step system GMM estimation to investigate the subject using a cross-country sample of 307 firms from 22 countries covered over 2002–2017. In line with previous studies, the authors control for various corporate governance mechanisms, firm-level factors and country-level characteristics.

The findings demonstrate that firms that make monetary political contributions exhibit lower levels of risk as measured by different proxies for risks, namely, systematic, idiosyncratic and total risk.

The results suggest that political contributions can be a useful mechanism to mitigate risk exposure. Also, the use of different risk measures and other factors for robustness fosters a better understanding of political connectedness in a more contextualized and dynamic manner.

This study seeks to contribute to the debate surrounding corporate strategy, political connectedness and corporate risk-taking by using actual monetary political contributions as an explicit measure of political connection. This study furthers scholarly understanding on the dynamics of corporate political activities using political contributions in monetary terms as a measure of political connectedness and its impact on risk-taking. Furthermore, the authors explore this topic using insights from nonmarket strategy literature and studies on political contributions.

Transitioning to a circular economy (CE) requires efforts from a broad range of stakeholders; however, the role of accountants within this remains inconspicuous. Taking individual accountants’ perspective within the UK context, this study aims to investigate the current state of involvement of accountants in the CE (and sustainability more broadly) as well as the barriers that they face.

The authors adopted a multi-perspective investigation drawing on viewpoints from various actors such as qualified accountants, trainee accountants, accountants holding senior positions within sustainability and/or CE and non-accountants with an expertise in sustainability and CE to understand the barriers that accountants face in their involvement in CE. The study consisted of 23 semi-structured interviews with participants at different levels of CE and sustainability engagement.

The authors find that the lack of involvement of accountants in embracing CE principles arises from the conceptual distinction between the perceived nature of sustainability and accounting, and the perceived stereotypical views of accountants, rather than the capabilities of the accountants themselves. This results in tensions of engagement that impede their involvement. The authors therefore offer a deeper, context-bound understanding of the factors that contribute towards a lack of involvement with accountants as key stakeholders in the CE.

Through an exploratory inquiry of accountant’s perspective, and drawing on accounting literature on stereotypes, the authors provide a novel understanding into the nuances, inherent tensions and trade-offs that exist in involving accountants in the CE.

The abnormality of the month-of-the-year and Ramadan effects has extensively existed in the stock and other markets. The commercial strategy pattern and the computation of such predictable patterns in the market allow investors to make money. By using anomalies such as the month-of-the-year and the Ramadan effects on earnings management (EM), it is possible to achieve such a goal. This study aims to investigate the month-of-the-year effect and the Ramadan effect on the relationship between accrual earnings management and real earnings management (AEM and REM, respectively) and liquidity in the Iranian capital market.

This empirical analysis comprises a panel data set of 80 listed firms (400 observations) on the Tehran Stock Exchange from 2016 to 2020.

The findings exhibit that when AEM and REM increase, information asymmetry also increases. The simultaneous increase of these variables leads to a decrease in stock liquidity. Furthermore, the results indicate that the month-of-the-year and Ramadan effects intensify the negative relationship between AEM and REM with stock liquidity. Therefore, EM is affected by the investor’s behavior in specific months.

Anomalies caused by the Ramadan effect and the month-of-the-year effect on reducing liquidity in the Iranian stock market were confirmed. Investors can use these anomalies to identify predictable patterns, exchange securities according to those patterns and earn abnormal returns.

To the best of the authors’ knowledge, this is the first study that empirically examined the simultaneous effect of Gregorian and Islamic calendar anomalies on the relationship between EM and liquidity, and while helping managers and other readers, it can be the basis for future research.