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Article
Publication date: 12 April 2024

Muhammad Jawad Haider, Maqsood Ahmad and Qiang Wu

This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

Abstract

Purpose

This study examines the impact of debt maturity structure on stock price crash risk (SPCR) in Asian economies and the moderating effect of firm age on this relationship.

Design/methodology/approach

The study utilized annual data from 432 nonfinancial firms publicly listed in six Asian countries: China, Hong Kong, Japan, Singapore, Pakistan and India. The observation period covers 14 years, from 2007 to 2020. The sample was categorized into three groups: the entire sample and one group each for developing and developed Asian economies. A generalized least squares panel regression method was employed to test the research hypotheses.

Findings

The results suggest that long-term debt has a significant negative influence on SPCR in Asian economies, indicating that firms with high long-term debt experience lower future SPCR. Moreover, firm age negatively moderates this relationship, implying that older firms may experience a more pronounced reduction in SPCR due to high long-term debt. Finally, firms in developed Asian economies with high long-term debt are more effective in mitigating the risk of a significant drop in their stock prices than firms in developing Asian economies.

Originality/value

This study contributes to the literature in several ways. To the best of the researcher’s knowledge, this is the first of such efforts to investigate the relationship between debt maturity structure and crash risk in Asia. Additionally, it reveals that long-term debt influences SPCR directly and indirectly in Asia through the moderating role of firm age. Lastly, it is likely one of the first studies by a research team in Asia to compare the nonfinancial markets of developed and developing Asian countries.

Details

Journal of Asian Business and Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2515-964X

Keywords

Article
Publication date: 14 September 2023

Muhammad Jawad Haider, Maqsood Ahmad and Qiang Wu

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

Abstract

Purpose

This study examines the influence of investor protection on stock price crash risk (SPCR) in Asian economies.

Design/methodology/approach

This study used yearly data from 432 nonfinancial companies publicly listed firms in six countries (i.e., China, India, Pakistan, Hong Kong, Japan and Singapore) from 2007 to 2020 to investigate the relationship between investor protection and the risk of stock price crashes. The hypothesis was tested using a generalized least square panel regression.

Findings

The results suggest that investor protection significantly affects SPCR in Asian economies. Furthermore, the findings show that the stocks of firms whose investors received the best protection were less prone to crash in developed Asian economies. However, in developing Asian economies, the stocks of firms whose investors received the best protection were more prone to crashes.

Practical implications

It provides awareness and understanding of how the level of investor protection affects SPCR, which could be useful for decision-makers and professionals across a spectrum of financial and non-financial institutions, such as portfolio managers and traders in commercial banks, investment banks and mutual funds. This knowledge enables informed decision-making and the formulation of effective policies to manage stock market volatility.

Originality/value

This study appears to be the first of its kind to focus on the link between investor protection and SPCR within the specific context of developed and developing Asian economies.

Details

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

Keywords

Article
Publication date: 9 June 2022

Afaq Ahmad, Zahoor Ahmad, Abdullah Ullah, Naveed Ur Ur Rehman, Muhammad Israr, Muhammad Zia, Haider Ali and Ataur Rahman

This study aims to investigate and compare the characteristics of three topologies of moving-magnet linear oscillating actuator (LOA) based on their mover position. Positive…

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Abstract

Purpose

This study aims to investigate and compare the characteristics of three topologies of moving-magnet linear oscillating actuator (LOA) based on their mover position. Positive aspects and consequences of every topology are demonstrated. Three topologies of axially magnetized moving-magnet LOA; outer mover, inner mover (IM) and dual stator (DS) are designed and examined. Due to its characteristically high thrust density and more mechanical strength, axially magnetized tubular permanent magnets (PMs) are used in these topologies.

Design/methodology/approach

LOAs are designed and optimized using parametric sweep, in term of design parameters and output parameters like thrust force, stroke and operating resonance frequency of the LOA. All the pros and cons of each topology are investigated and compared. Output parameters of the LOAs are compared using same size of the investigated LOAs. Mover mass, which plays a vital role in resonant operation, is analyzed for IM and DS designs. Investigated LOAs are compared with conventional designs of LOA for compressor in refrigeration system with regards of motor constant, stroke and thrust per PM mass.

Findings

This paper analyzes three topologies of moving-magnet LOAs. The basic difference between investigated LOAs is the radius of tubular-shaped mover from its central axis. All the design parameters are compared and concluded that thrust per PM mass of IMLOA is maximum. OMLOA provides maximum motor constant of value 180 N/A. DSLOA provides thrust force with motor constant 120 N/A and required intermediate materials of PMs. All the three designs give the best results in terms of motor constant and thrust per PM mass, compared to conventional designs of LOA.

Originality/value

This paper determines the impact of mover position from its central axis in a tubular-shaped moving-magnet LOA. This work is carried out in correspondence of latest papers of LOA.

Details

World Journal of Engineering, vol. 20 no. 6
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 28 July 2021

Hira Rani, Syed Mir Muhammad Shah, Waheed Ali Umrani, Jawad Syed and Gul Afshan

Utilizing affective event theory (AET), this paper aims to understand the affective reasoning behind choosing to speak up for or against abusive supervision. For this purpose, the…

Abstract

Purpose

Utilizing affective event theory (AET), this paper aims to understand the affective reasoning behind choosing to speak up for or against abusive supervision. For this purpose, the authors examine the underlying mechanism of employee state paranoia in the relationship between abusive supervision and promotive and prohibitive voice of employees.

Design/methodology/approach

Data from 307 microfinance bank employees were collected using supervisor–subordinate nested design and time-lag approach. The analysis was performed through partial least square (PLS) structural equation modeling using Smart PLS software.

Findings

The results support the direct relationship of abusive supervision with promotive and prohibitive voice. They also support the mediating relation of paranoia arousal between abusive supervision and promotive voice. However, the results do not support the mediating relationship of paranoia arousal between abusive supervision and prohibitive voice.

Originality/value

In light of the literature drawn from AET and empirical data, this study forwards robust recommendations for theory and practice and may assist future researchers interested in the role of employee paranoia arousal.

Details

Leadership & Organization Development Journal, vol. 42 no. 7
Type: Research Article
ISSN: 0143-7739

Keywords

Article
Publication date: 15 February 2021

Liaquat Ali Lund, Zurni Omar and Ilyas Khan

The purpose of this study is to find the multiple branches of the three-dimensional flow of Cu-Al2 O3/water rotating hybrid nanofluid perfusing a porous medium over the…

Abstract

Purpose

The purpose of this study is to find the multiple branches of the three-dimensional flow of Cu-Al2 O3/water rotating hybrid nanofluid perfusing a porous medium over the stretching/shrinking surface. The extended model of Darcy due to Forchheimer and Brinkman has been considered to make the hybrid nanofluid model over the pores by considering the porosity and permeability effects.

Design/methodology/approach

The Tiwari and Das model with the thermophysical properties of spherical particles for efficient dynamic viscosity of the nanoparticle is used. The linear similarity transformations are applied to convert the partial differential equations into ordinary differential equations (ODEs). The system of governing ODEs is solved by using the three-stage Lobatto IIIa scheme in MATLAB for evolving parameters.

Findings

The system of governing ODEs produces dual branches. A unique stable branch is identified with help of stability analysis. The reduced heat transfer rate has been shown to increase with the reduced ϕ2 in both branches. Further, results revealed that the presence of multiple branches depends on the ranges of porosity, suction and stretching/shrinking parameters for the particular value of the rotating parameter.

Originality/value

Dual branches of the three-dimensional flow of Cu-Al2 O3/water rotating hybrid nanofluid have been found. Therefore, stability analysis of the branches is also conducted to know which branch is appropriate for the practical applications. To the best of the authors’ knowledge, this research is novel and there is no previously published work relevant to the present study.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 31 no. 12
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 6 February 2024

Tehreem Fatima, Muhammad Kashif Imran, Ambreen Sarwar, Sobia Shabeer and Muhammad Rizwan

The present research aims to empirically test the “Barriers to abusive supervision model” to find how employee-related (core self-evaluations) and situational factors (perceived…

Abstract

Purpose

The present research aims to empirically test the “Barriers to abusive supervision model” to find how employee-related (core self-evaluations) and situational factors (perceived job dependency) make an employee trapped in the spiral of supervisory abuse. In addition, the work–family spillover lens is used to explain how employees' retaliation is targeted at their families in response to abuse from their bosses.

Design/methodology/approach

The current study has employed a three-wave longitudinal moderated mediation design and analysed data from 265 employees working in the hospitality industry of Pakistan.

Findings

The results of this study have shown that low core-self evaluations put employees in a spiral of supervisory abuse and they instil aggression towards their families. This association is further strengthened when employees are dependent on their job.

Originality/value

This study is one of the first to use the “Barriers to Abusive supervision” model to answer who and in which conditions tend to trap in the spiral of abuse and integrate the work-to-family interface model for elaborating the outcomes to the family domain.

Details

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

Keywords

Article
Publication date: 6 December 2020

S. Das, Akram Ali and R.N. Jana

In this communication, a theoretical simulation is aimed to characterize the Darcy–Forchheimer flow of a magneto-couple stress fluid over an inclined exponentially stretching…

Abstract

Purpose

In this communication, a theoretical simulation is aimed to characterize the Darcy–Forchheimer flow of a magneto-couple stress fluid over an inclined exponentially stretching sheet. Stokes’ couple stress model is deployed to simulate non-Newtonian microstructural characteristics. Two different kinds of thermal boundary conditions, namely, the prescribed exponential order surface temperature (PEST) and prescribed exponential order heat flux, are considered in the heat transfer analysis. Joule heating (Ohmic dissipation), viscous dissipation and heat source/sink impacts are also included in the energy equation because these phenomena arise frequently in magnetic materials processing.

Design/methodology/approach

The governing partial differential equations are transformed into nonlinear ordinary differential equations (ODEs) by adopting suitable similar transformations. The resulting system of nonlinear ODEs is tackled numerically by using the Runge–Kutta fourth (RK4)-order numerical integration scheme based on the shooting technique. The impacts of sundry parameters on stream function, velocity and temperature profiles are viewed with the help of graphical illustrations. For engineering interests, the physical implication of the said parameters on skin friction coefficient, Nussult number and surface temperature are discussed numerically through tables.

Findings

As a key outcome, it is noted that the augmented Chandrasekhar number, porosity parameter and Forchhemeir parameter diminish the stream function as well as the velocity profile. The behavior of the Darcian drag force is similar to the magnetic field on fluid flow. Temperature profiles are generally upsurged with the greater magnetic field, couple stress parameter and porosity parameter, and are consistently higher for the PEST case.

Practical implications

The findings obtained from this analysis can be applied in magnetic material processing, metallurgy, casting, filtration of liquid metals, gas-cleaning filtration, cooling of metallic sheets, petroleum industries, geothermal operations, boundary layer resistors in aerodynamics, etc.

Originality/value

From the literature review, it has been found that the Darcy–Forchheimer flow of a magneto-couple stress fluid over an inclined exponentially stretching surface with heat flux conditions is still scarce. The numerical data of the present results are validated with the already existing studies under limited cases and inferred to have good concord.

Details

World Journal of Engineering, vol. 18 no. 2
Type: Research Article
ISSN: 1708-5284

Keywords

Article
Publication date: 4 May 2020

Muhammad Rehman, Sajawal Khan, Zafar Hayat and Faruk Balli

In this paper, the authors develop and estimate a small open economy dynamic stochastic general equilibrium (DSGE) model with an enriched micro-founded specification to account…

Abstract

Purpose

In this paper, the authors develop and estimate a small open economy dynamic stochastic general equilibrium (DSGE) model with an enriched micro-founded specification to account for foreign remittances, an important source that helps bridge the trade gap in many developing and emerging market economies.

Design/methodology/approach

Although the authors’ specification provides a general frame for the analysis of the role of workers' remittances, they motivate and calibrate the model with specific focus on Pakistan, where most of the trade deficit is met through the remittance channel.

Findings

The results indicate that a negative shock to workers' remittances hampers real growth via decreased consumption and imported investment goods, while it builds pressure on exchange rate and hence worsens current account balance. These results indicate that too much dependence on workers' remittances to help meet foreign exchange deficits may potentially leave the economy in doldrums in case sizable negative shocks occur to the flow of foreign remittances.

Originality/value

The authors develop and estimate a small open economy DSGE model with an enriched micro-founded specification to account for foreign remittances, an important source that helps bridge the trade gap in many developing and emerging market economies.

Details

Journal of Economic Studies, vol. 47 no. 6
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 10 February 2023

Roslina Mohamad Shafi and Yan-Ling Tan

This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.

Abstract

Purpose

This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.

Design/methodology/approach

A bibliometric analysis was applied based on selected publications from the Web of Science Core Collection (WoSCC) database from 2000 to 2021. The study adopted VOSviewer software which was developed by Leiden University.

Findings

This study has some implications that need urgent action. Firstly, there are some areas that have received little attention among researchers, although they are relevant to the industry, for instance, in fintech and blockchain in ICM. Secondly, the inconsistent frequency of publications in some niche areas may suggest that there are unprecedented events that hinder further research; probably, the researcher may anticipate more information and progress in the industry. Thirdly, the need to strengthen the collaboration between industry and academia to advance research.

Research limitations/implications

This study considered only the WoSCC database. The provider of WoSCC is Clarivate (formerly known as Thomson Reuters), where access to publications is limited to institutional subscribers. The implications of this study are to identify and propose future research trends in the field of ICM.

Originality/value

To the best of the authors’ knowledge, the present study is among the pioneer studies in analysing bibliometric focusing on ICM. Previous research has focused on Islamic finance and banking, and not specifically on ICM. Accordingly, this study sheds light on research gaps in ICM.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 8
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 28 November 2022

Raheel Yasin, Shaohua Yang, Aydan Huseynova and Muhammad Atif

This study determines the nexus between spiritual leadership and psychological safety (PS). The authors explore the mediating role of PS and knowledge sharing to offer insights on…

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Abstract

Purpose

This study determines the nexus between spiritual leadership and psychological safety (PS). The authors explore the mediating role of PS and knowledge sharing to offer insights on how spiritual leadership can be advanced to better understand and support intellectual capital.

Design/methodology/approach

Data were collected using convenience sampling from the Pakistani automobile manufacturing industry. SPSS statistical software was used for descriptive analysis and hypotheses were tested by using the partial least square-structural equation modeling method.

Findings

The results demonstrate that spiritual leadership has a significant positive impact on PS; PS has a positive impact on knowledge sharing (KS) and KS has a positive impact on intellectual capital. Furthermore, PS mediates between spiritual leadership and KS. KS mediates between PS and human, social and organizational capital. Spiritual leadership also affects outside the boundaries of the organization and builds strong social relations with suppliers, buyers, etc.

Research limitations/implications

This study provides a deeper understanding of spiritual leadership in the context of KS and intellectual capital in the automobile sector of Pakistan.

Practical implications

This study encourages managers to nurture a philosophy of altruistic love that exerts a positive influence on employees. It will enrich their experience and promote a culture of KS.

Social implications

This study has social implications for organizations seeking to situate their inclusive goals in society. The findings of this study can help promote harmony as employees who feel psychologically safe are more willing to spread it in society.

Originality/value

This study theoretically contributes the big picture that how spiritual leadership contributes to intellectual capital and adds to the literature on the topic.

Details

Journal of Intellectual Capital, vol. 24 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

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