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Open Access
Article
Publication date: 19 April 2024

Qingmei Tan, Muhammad Haroon Rasheed and Muhammad Shahid Rasheed

Despite its devastating nature, the COVID-19 pandemic has also catalyzed a substantial surge in the adoption and integration of technological tools within economies, exerting a…

Abstract

Purpose

Despite its devastating nature, the COVID-19 pandemic has also catalyzed a substantial surge in the adoption and integration of technological tools within economies, exerting a profound influence on the dissemination of information among participants in stock markets. Consequently, this present study delves into the ramifications of post-pandemic dynamics on stock market behavior. It also examines the relationship between investors' sentiments, underlying behavioral drivers and their collective impact on global stock markets.

Design/methodology/approach

Drawing upon data spanning from 2012 to 2023 and encompassing major world indices classified by Morgan Stanley Capital International’s (MSCI) market and regional taxonomy, this study employs a threshold regression model. This model effectively distinguishes the thresholds within these influential factors. To evaluate the statistical significance of variances across these thresholds, a Wald coefficient analysis was applied.

Findings

The empirical results highlighted the substantive role that investors' sentiments and behavioral determinants play in shaping the predictability of returns on a global scale. However, their influence on developed economies and the continents of America appears comparatively lower compared with the Asia–Pacific markets. Similarly, the regions characterized by a more pronounced influence of behavioral factors seem to reduce their reliance on these factors in the post-pandemic landscape and vice versa. Interestingly, the post COVID-19 technological advancements also appear to exert a lesser impact on developed nations.

Originality/value

This study pioneers the investigation of these contextual dissimilarities, thereby charting new avenues for subsequent research studies. These insights shed valuable light on the contextualized nexus between technology, societal dynamics, behavioral biases and their collective impact on stock markets. Furthermore, the study's revelations offer a unique vantage point for addressing market inefficiencies by pinpointing the pivotal factors driving such behavioral patterns.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Article
Publication date: 12 March 2018

Muhammad Haroon Rasheed, Amir Rafique, Tayyaba Zahid and Muhammad Waqar Akhtar

The purpose of this paper is to look at the impact of two most commonly used heuristics, namely, representative bias and availability bias on investment decision making and to…

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Abstract

Purpose

The purpose of this paper is to look at the impact of two most commonly used heuristics, namely, representative bias and availability bias on investment decision making and to check that either locus of control interact with the said relations through theoretical proposal and then verification through empirical evidence.

Design/methodology/approach

The study is a quantitative research using a survey questionnaire for its data collection. Data are collected from 227 investors operating at Islamabad, Lahore, and Sargodha in Pakistan and analyzed using structural equation modeling while the interaction effect is analyzed through simple linear regression following the rules set by Baron and Kenny (1986).

Findings

The results reveal that both of the heuristics under study significantly cause investors to deviate from rational decision making while the locus of control have no significant moderating effect.

Originality/value

The proposed model provides insight on how the behavioral factors can lead investors to suboptimal decision making. This study is first of its kind to quantify the degree of irrationality caused by these factors. The findings of this study are practically useful for individual investors, investment managers, and also for policy makers.

Details

Review of Behavioral Finance, vol. 10 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 30 January 2024

Muhammad Haroon Shoukat, Islam Elgammal, Mukaram Ali Khan and Kareem M. Selem

Using the theoretical framework of social comparison theory (SCT), this study investigates the effects of employee envy on service sabotage behaviors in the hospitality industry…

Abstract

Purpose

Using the theoretical framework of social comparison theory (SCT), this study investigates the effects of employee envy on service sabotage behaviors in the hospitality industry. It further examines the complex dynamics of self-performance and job dissatisfaction in this context. Notably, this paper seeks to determine the potential moderating role of perceived employability in the interactions between service sabotage, employee envy, job dissatisfaction and self-performance.

Design/methodology/approach

Our research structure was divided into four distinct models. The findings of Model 1 highlight the significant impact of employee envy on service sabotage. The analysis in Model 2a shows that job dissatisfaction acts as a partial mediator in the employee envy and service sabotage linkage. On the other hand, Model 2b reveals self-performance as yet another partial mediator between envy-service sabotage relationships. In turn, Model 3 demonstrates that job dissatisfaction and self-performance play a serial mediation role in the envy-service sabotage relationship. In addition, our research shows that perceived employability effectively moderates the three proposed paths within these relationships.

Findings

Our research structure was divided into four distinct models. The findings of Model 1 highlight the significant impact of employee envy on service sabotage. The analysis in Model 2a shows that job dissatisfaction acts as a partial mediator in the employee envy and service sabotage linkage. On the other hand, Model 2b reveals self-performance as yet another partial mediator between envy-service sabotage relationships. In turn, Model 3 demonstrates that job dissatisfaction and self-performance play a serial mediation role in the envy-service sabotage relationship. In addition, our research shows that perceived employability effectively moderates the three proposed paths within these relationships.

Research limitations/implications

Hotel managers must keep a close eye on their front-of-house staff to avoid any unintentional or direct interactions with customers. Equally important is the consistent and impartial treatment of all employees, which is an important consideration for managers to consider because it can help mitigate employee envy and job dissatisfaction.

Originality/value

This study seeks to enhance understanding of SCT by emphasizing perceived employability as a boundary influencing the relationships between these factors and desired outcomes in the hotel industry, such as job dissatisfaction, self-performance and service sabotage. This paper is an initial attempt to investigate the underlying mechanisms in the relationship between envy and service sabotage.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 31 October 2023

Mukaram Ali Khan, Kareem M. Selem, Syed Sohaib Zubair and Muhammad Haroon Shoukat

Underpinned by affective events theory (AET), this paper examines the effect of coworker friendship on coworker incivility in family-style restaurants. Furthermore, this paper…

Abstract

Purpose

Underpinned by affective events theory (AET), this paper examines the effect of coworker friendship on coworker incivility in family-style restaurants. Furthermore, this paper seeks the mediation effect of positive workplace gossip.

Design/methodology/approach

Using a time-lagged approach, 83 headwaiters and 326 servers at family-style restaurants located in Port Said and Ismailia responded, and their responses were analyzed using AMOS v. 24.

Findings

Multigroup analysis findings proved that coworker friendship increased positive workplace gossip in favor of the server sample. At the same time, the latter decreased coworker incivility in favor of the headwaiter sample. Besides, positive workplace gossip partially mediated the coworker friendship–incivility association in favor of the server sample. Furthermore, incivility levels increase between married coworkers and their peers in favor of the server sample.

Originality/value

From the AET lens, this paper offers valuable insights into affective and emotional reactions to closest coworkers' judgmental behavior in the restaurant industry.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 30 May 2011

Haroon Idrees

The purpose of this paper is to develop understanding of the problems of classification, to discover the classification practices of libraries with rich collections on Islam cited…

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Abstract

Purpose

The purpose of this paper is to develop understanding of the problems of classification, to discover the classification practices of libraries with rich collections on Islam cited in the literature, to find the gaps, and to determine the point from which to start work on further development.

Design/methodology/approach

Published and unpublished literature, both print and electronic, that is relevant to the problem was reviewed objectively in the compilation of this paper.

Findings

Standard classification systems lack proper space for materials on Islam for two reasons: less awareness on the part of devisers of the depth and variety of Islamic topics; and their bias and lack of interest in Islam. Different indigenous classification systems and expansions have been developed, using either the original notation or alternative notations. Some systems have been developed without following any standards or logic. This study has revealed a need for empirical study of libraries with rich collections on Islam in order to gain a better understanding of the problem and find an optimal solution.

Research limitations/implications

No empirical field data are included in this study. This is a review of the literature.

Originality/value

The author indicates the current situation of the problem and a potential framework for its solution.

Details

OCLC Systems & Services: International digital library perspectives, vol. 27 no. 2
Type: Research Article
ISSN: 1065-075X

Keywords

Article
Publication date: 21 August 2023

Adeel Shah, Musawir Ali Soomro, Arsalan Zahid Piprani, Zhang Yu and Muhammad Tanveer

The desire of international retail brands to implement sustainable supply chain practices in the fashion value chain and improve suppliers' sustainability efforts; this research…

Abstract

Purpose

The desire of international retail brands to implement sustainable supply chain practices in the fashion value chain and improve suppliers' sustainability efforts; this research paper elucidates the relationship between blockchain technology and sustainability to impact apparel firms' triple bottom line.

Design/methodology/approach

For studying the impact of sustainable supply chain practices on the triple bottom line, a survey questionnaire was chosen and sent out to 500 garment companies simultaneously, of which 371 responded. The data collected is cross-sectional. The questionnaire survey was developed keeping in mind a few demographic elements such as experience, age and qualification to generalize the findings. For analysis, SmartPLS is used to run model structuring and regression analysis.

Findings

Test runs on model structure confirm the instrument's validity and reliability. Bootstrapping on the theoretical model to test developed hypotheses suggests that supply chain sustainability practices positively affect social, environmental and economic performance in a direct relationship. Further, indirect relation testing conducted to test blockchain technology's moderation influences only the constructs' relations.

Research limitations/implications

The clubbing of sustainable supply chain practices and blockchain technology is a novel idea in the apparel industry; however, there are more constructs in the context of practice-based theory and supply chain which impact firm performance. Also, the research limits itself from discussing IT infrastructure and smart contract types that impact the technology's performance.

Practical implications

The study provides a framework for interpreting the synergetic influence of SSCP on firm social, environmental and economic performances, which is demanded both by consumers and regulators in an industry. The results suggest that managers sustainably design the production ecosystem, thus eliminating any discrepancy or slackness in the complete chain. Usually, suppliers are ignored, which are precursors in implementing SSCP.

Originality/value

The paper studies sustainability problems through ecological modernization theory and practical-based theory giving a unique perspective on the issue faced by the apparel industry and combining sustainable supply chain practices and blockchain.

Details

Journal of Strategy and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 9 August 2021

Namra Mubarak, Jabran Khan, Samyia Safdar, Shah Muhammad and Asim Riaz

This study aims to examine the relationship between ethical leadership and project success directly and indirectly through psychological empowerment along with the moderating role…

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Abstract

Purpose

This study aims to examine the relationship between ethical leadership and project success directly and indirectly through psychological empowerment along with the moderating role of Islamic work ethic.

Design/methodology/approach

Using a time-lagged design, data were gathered from 202 employees working in project-based organizations of Pakistan. Confirmatory factor analysis confirmed the distinctiveness of variables used in the study.

Findings

Consistent with the cognitive evaluation theory, the findings supported the hypotheses other than the moderating role of Islamic work ethics between psychological empowerment and project success. The results confirmed that ethical leadership promotes project success directly and indirectly via psychological empowerment. Furthermore, theoretical and practical implications are also discussed highlighting the importance of ethical leadership for researchers and practitioners.

Originality/value

Literature is insufficient on the topic of ethical leadership in the project management domain with the effect of Islamic work ethics and psychological empowerment. Therefore, the current study explored unanswered research questions in the project management domain.

Details

Management Research Review, vol. 45 no. 3
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 17 May 2022

Mudaser Javaid, Ayham A.M. Jaaron and Nor Hazana Binti Abdullah

The existence of intense competition in turbulent markets confirms the importance of using ethical employee practices in knowledge sharing behaviour (KSB) to ensure organisational…

Abstract

Purpose

The existence of intense competition in turbulent markets confirms the importance of using ethical employee practices in knowledge sharing behaviour (KSB) to ensure organisational growth. This is especially applicable in developing countries' markets where this intensive competition usually results in organisations following illicit practices. This paper aims to examine the relationship between the Big Five personality traits (i.e. openness to experience, conscientiousness, extraversion, agreeableness, and neuroticism) and KSB using Islamic work ethics (IWE) as the moderator.

Design/methodology/approach

A quantitative research method using a survey instrument collected 182 responses from employees in the Pakistani telecommunication industry. The partial least squares structural equation model (PLS-SEM) was used to analyse the collected data.

Findings

The results found that IWE has a positive impact on KSB and a positive moderating impact on the relationship between the Big Five personality traits except neuroticism and KSB. Also, openness to experience and agreeableness positively impacted KSB.

Practical implications

This paper contributes to the field of human resource (HR) management by helping managers in the hiring process or developing employee's personalities. Additionally, policymakers are encouraged to create Islamic values platforms to increase KSB amongst employees.

Originality/value

This study indicates the importance of IWE in boosting the impact of personality on KSB and provides insights into IWE's role in enhancing an organisation's competitive advantages in turbulent markets.

Details

Cross Cultural & Strategic Management, vol. 29 no. 4
Type: Research Article
ISSN: 2059-5794

Keywords

Article
Publication date: 17 September 2018

Alborz Gheitani, Saheb Imani, Nader Seyyedamiri and Pantea Foroudi

In line with the general purpose mentioned, this paper aims to determine the impact of the Islamic work ethic (IWE) on job satisfaction and organizational commitment among the…

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Abstract

Purpose

In line with the general purpose mentioned, this paper aims to determine the impact of the Islamic work ethic (IWE) on job satisfaction and organizational commitment among the employees of Bank Maskan by examining the mediating role of intrinsic motivation.

Design/methodology/approach

Analysis of data obtained from 220 questionnaires related to research variables with AMOS software shows a positive and significant relationship between IWE and job satisfaction and organizational commitment with the mediating role of intrinsic motivation.

Findings

The findings revealed a direct effect of IWE on job satisfaction, but there was no direct significant relationship between this variable and organizational commitment. Also, intrinsic motivation plays a partial and completely mediatory role in the relationship between IWE and job satisfaction and between IWE and organizational commitment.

Research limitations/implications

The impact of participation in strategic planning on managers’ creation of budgetary slack: The mediating role of autonomous motivation and affective organizational commitment.

Originality/value

As the nature of bank employees’ work is such that it confronts them with numerous ethical choices, the adherence to ethical standards, particularly IWE, can greatly affect their enthusiasm and, as a result, their satisfaction and organizational commitment.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 12 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 26 July 2021

Shagufta Parveen, Zoya Wajid Satti, Qazi Abdul Subhan, Nishat Riaz, Samreen Fahim Baber and Taqadus Bashir

This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).

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Abstract

Purpose

This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).

Design/methodology/approach

The authors have assessed investors' behaviors and sentiments and the stock market overreaction during COVID-19 using a questionnaire and collected data from 401 investors trading in the PSX.

Findings

Results of structural equation modeling revealed that the COVID-19 pandemic affected investors' behaviors, investment decisions and trade volume. It created feelings of fear and uncertainty among market participants. Evidence suggests that behavioral heuristics and biases, including representative heuristic, anchoring heuristic, overconfidence bias and disposition effect, negatively influenced investors' decisions at the PSX.

Research limitations/implications

This study will contribute to behavioral finance literature in the context of developing countries as it has revealed the impact of COVID-19 on the emerging stock market, and its results are generalizable to other emerging stock markets.

Practical implications

The findings of this study will help academicians, researchers and policymakers of developing countries. Academicians can formulate new behavioral models that can depict the solutions of dealing with an uncertain situation like COVID-19. Policymakers like the Securities Exchange Commission and the PSX can formulate crisis management strategies based on behavioral finance concepts to cope with situations like COVID-19 in the future and help lessen investors' losses in the stock markets. The role of the Securities Exchange Commission is crucial as it regulates the financial markets. It can arrange workshops to educate investors to manage their decisions during crisis time and focus on the best use of irrational and rational decision-making at the same time using Lo (2004) adaptive market hypothesis.

Originality/value

The novelty of the paper is that the authors have introduced overconfidence and disposition effect as mediators that create a connection between representative and anchoring heuristics and investment decisions using primary data collected from investors (institutional and retail) to demonstrate the presence of psychological biases during COVID-19, and it has been done for the first time according to authors' knowledge. It is a contribution and addition to the behavioral finance literature in the context of developing countries' stock markets and their efficiency.

Details

Journal of Economic and Administrative Sciences, vol. 39 no. 3
Type: Research Article
ISSN: 1026-4116

Keywords

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