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Purpose: While the potential for digital innovation (DI) to transform organizational practices is widely acknowledged in the information systems (IS) literature, there is very limited understanding on the socio-political nature of institutional interactions that determine DI and affect organizational practices in social cash organizations. Drawing on the neo-institutionalist vision, the purpose of the study is to examine the unique set of institutional exchanges that influence the transition to digital social cash payments that give rise to new institutional arrangements in social cash organizations. Design/methodology/approach: The paper draws on an in-depth case study of a government social cash organization in Pakistan. Qualitative data were collected using 30 semi-structured interviews from key organizational members and stakeholders. Findings: The results suggest that DI is determined by the novel intersections between the coercive (techno-economic, regulatory), normative (socio-organizational), mimetic (international) and covert power (political) forces. Hence, DI is not a technologically deterministic output, but rather a complex socio-political process enacted through dialogue, negotiation and conflict between institutional actors. Technology is socially embedded through the process of institutionalization that is coupled by the deinstitutionalization of established organizational practices for progressive transformation. Research limitations/implications: The research has implications for government social cash organizations especially in the Global South. Empirically, the authors gained rare access to, and support from a government-backed social cash organization in Pakistan (an understudied country in the Global South), which made the data and the consequent analyses even invaluable. This made the empirical contribution within this geographical setting even more worthy, since this case study has received little attention from indigenous scholars in the past. The empirical findings showcased a unique set of contextual factors that were subject to BISP and interpreted through an account of socio-cultural sensitivities. Practical implications: The paper provides practical implications for policymakers and practitioners, emphasizing the need to address institutional challenges, including covert power, during the implementation of digitalization projects in the public sector. The paper has certain potential for inspiring future e-government related (or public sector focused) studies. The paper may guide both private and government policy-makers and practitioners in presenting how to overcome certain institutional challenges while planning and implementing large scale multi-stakeholder digitization projects in similar country contexts. So while there is scope of linking the digitization of public sector organizations to anti-corruption measures in other Global South countries, the paper may not be that straightforward with the private sector involvement. Social implications: The paper offers rich social insights on the institutional interchanges that occur between the social actors for the innovation of technology. Especially, the paper highlights the social-embeddedness nature of technology that underpins the institutionalization of new organizational practices. These have implications on how DI is viewed as a socio-political process of change. Originality/value: This study contributes to neo-institutional theory by theorizing covert power as a political force that complements the neo-institutional framework. This force is subtle but also resistive for some political actors as the force shifts the equilibrium of power between different institutional actors. Furthermore, the paper presents the social and practical implications that guide policymakers and practitioners by taking into consideration the unique institutional challenges, such as covert power, while implementing large scale digital projects in the social cash sector. [ABSTRACT FROM AUTHOR]

Purpose: The increasing number of papers on zakah shows that it has become an important research topic. However, few studies attempt to analyze the evolution of zakah studies which might be helpful as guidance for policymakers in creating zakah management systems and policies, for zakah management organizations administering zakah funds, for future research on related subjects and for academic actors to construct a zakah study curriculum. This study aims to conduct a bibliometric analysis of the evolution of zakah theme publications from 1964 to 2021. Design/methodology/approach: This study uses bibliometric analysis to analyze the evolution of zakah research. This study compared all Scopus-indexed journal papers to Zakah publications regarding research flow, themes, abstracts and titles. The relationships between researchers, the titles of the papers and keywords associated with "zakah" are analyzed in these publications published between 1964 and 2021. A total of 632 scientific contributions were discovered using RStudio and VOSviewer to analyze the bibliometric metadata. Findings: Based on the results, the theme of zakah has evolved from 1964 to 2021. The author emphasizes the zakah publication theme. Each affiliation and country have its conditions, management method, data sources and characteristics. The theme "zakah institutions and zakah collecting" grew in popularity between 2010 and 2021 and is projected to grow in the following years. Malaysia, Indonesia and Pakistan can be used as zakah development research models. In spans of zakah publications, the author with the most global citations is Wahab N.A., and the author with the most productive is Saad Raj. Research limitations/implications: Zakah publications are analyzed using the Scopus database. This study applied only Scopus index data, excluding non-Scopus, and most studies conducted in non-English languages. This conclusion indicates the issue's importance among academic researchers and practitioners, notably on the subject of zakah. Thus, a comprehensive picture of zakah theme publications assists researchers and zakah fund institutions in making assessments, focusing on the unstudied fraction of the zakah theme. Practical implications: This research is planned to serve as a reference for future research, particularly examining the theme's novelty. It is intended to have implications for policymakers, particularly zakah institutions, regarding funding the several zakah research issues and concentrations. Social implications: This research can guide future researchers and is expected to include parameters such as author, year and data source while analyzing zakah publications to generate new findings. Originality/value: This is probably one of few comprehensive studies that examined the evolution of the zakah theme using the Scopus-indexed database. The relevance of this paper is to provide suggestions and projections for future zakah research. Scholars should examine zakah publications by author, year and data source to gain fresh insights. Search for data sources with high-impact factors and objective metrics, then clear out irrelevant documents to improve the analysis' quality and findings. [ABSTRACT FROM AUTHOR]

Purpose: The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management activities and to ascertain some substantial gaps related to them. Design/methodology/approach: For doing research synthesis, systematic literature review approach was applied considering research studies published within the time period, i.e. 1980–2020. This study attempted to accomplish a critical review of 59 studies out of 118 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioural finance domain-related explicitly to recognition-based heuristics and their effect on investment management activities. Findings: The survey and analysis suggest investors consistently rely on the recognition-based heuristic-driven biases when trading stocks, resulting in irrational decisions, and an investment strategy constructed by implementing the recognition-based heuristics, would not result in better returns to investors on a consistent basis. Institutional investors are less likely to be affected by these name-based behavioural biases in comparison to individual investors. However, under the context of ecological rationality, recognition-based heuristics work better and sometimes dominate the classical methods. The research scholars from the behavioural finance community have highlighted that recognition-based heuristics and their impact on investment management activities are high profile areas, needed to be explored further in the field of behavioural finance. The study of recognition-based heuristic-driven biases has been found to be insufficient in the context of emerging economies like Pakistan. Practical implications: The skilful understanding and knowledge of the recognition-based heuristic-driven biases will help the investors, financial institutions and policy-makers to overcome the adverse effect of these behavioural biases in the stock market. This article provides a detailed explanation of recognition-based heuristic-driven biases and their influence on investment management activities which could be very useful for finance practitioners' such as investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/ broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making its financial management strategies. Originality/value: Currently, no recent study exists, which reviews and evaluates the empirical research on recognition-based heuristic-driven biases displayed by investors. The current study is original in discussing the role of recognition-based heuristic-driven biases in investment management activities by means of research synthesis. This paper is useful to researchers, academicians, and those working in the area of behavioural finance in understanding the role that recognition-based heuristics plays in investment management activities. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries. Design/methodology/approach: This study follows a qualitative research method based on literature review, comparison, evaluation and design. Findings: The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London. Originality/value: This paper's unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the relationship between board structure and risk-taking, exploring how this association is influenced by advanced technologies in the banking sector. Design/methodology/approach: This study uses a panel sample of 22 Pakistani banks from 2011 to 2018. To test the authors' hypothesis, the authors use regression analysis with two-way cluster robust standard errors. Further, the authors also check the robustness of the authors' findings using alternate proxies of board structure and bank risk-taking behavior. To address endogeneity concerns, the authors use the two-stage least square technique. Findings: In the era of the Fourth Industrial Revolution, Pakistani banks' digitalization is modeled by the presence of Temenos-T24/Oracle as their core banking system (software providing end-to-end operational integration). Its interactional effect with corporate governance is evaluated to implicate informed risk-taking by the board as a result of improved information access and analysis. The authors find that board size has a positive association with risk-taking, and the use of modern technology reshapes this association in the banking sector. Originality/value: The contribution of this paper is twofold. First, the impact of board structure on bank risk-taking has not been extensively researched in Pakistan – a highly volatile and unpredictable economy. Second, the evaluation of the role of technology on bank risk is being researched for the very first time – a uniqueness of this paper. [ABSTRACT FROM AUTHOR]

Purpose: This study aimed at exploring the differential effects of different corporate governance (CG) indicators on risk management practices in Islamic financial institutions (IFIs) and conventional financial institutions (CFIs) of Pakistan. It also investigated the moderating role of institutional quality (IQ) in shaping the effects of CG practices on financial institutions of Pakistan. Design/methodology/approach: A sample of 57 financial institutions including commercial banks, insurance companies and Modarba companies over the period 2006–2017 is used to carry out the empirical analysis. The authors applied the robust two-step system-generalized method of moments estimator, which is also called the dynamic panel data estimator. They also built the PCA-based composite index of CG and IQ by using different indicators to investigate the moderating role of IQ. They used three proxies for risk taking, five for CG and one for Shari'ah governance. To test the validity of the instruments, they applied the Arellano and Bond's (1991) AR (1) and AR (2) tests and the J-statistic of Hansen (1982). Findings: The results provided strong evidence that several individual characteristics of CG and the composite index are significantly related to the operational risk, the liquidity risk and the Z-score (a proxy for solvency risk). The results also revealed that IQ significantly and substantially contributes in reducing the level of risks. Finally, the estimation results indicated that the effects of CG on risk management are significantly different at IFIs and CFIs. This differential impact is mainly attributed to the fundamental differences in business models, operational strategies and contractual obligations of both types of institutions. Practical implications: The findings of this study are important for enhancing our understanding of how CG relates to risk taking in Islamic and conventional financial services industries and how good quality institutions are important for formulating the governance effects on the risk-taking behavior of financial institutions. The findings suggest that a suitable size of board should be chosen to manage the risk effectively. As the findings show that the risk-taking behavior of IFIs differs from that of CFIs, the regulators and international standard setting bodies should tailor the regulatory frameworks accordingly. Originality/value: This paper is different from the existing studies in four aspects. First, to the best of the authors' knowledge, this is the first empirical investigation in Pakistan, which does the comparison of IFIs and CFIs while examining the impacts of CG on risk management. Second, the paper constructs the composite index of CG by considering several different indicators of governance and examines the combined effect of governance indicators on risk management process. Third, this paper adds to the growing literature on the role of IQ by investigating whether it acts as a moderator between CG structures and risk management and if yes, then whether this moderating role is different for IFIs and CFIs. Finally, the paper builds upon the existing research work on the CG effects for different types of financial institutions by proposing a single regression based analytical framework for comparing the effects across two different types of institutions, harvesting the benefits of higher degrees of freedom and avoiding/minimizing the measurement error. [ABSTRACT FROM AUTHOR]

Purpose: It is important to understand the factors that are significant in supply chain (SC) collaboration decision making and whether supply chain collaborative factors that are considered in the literature are still valid. To date, SC collaboration has not been extensively studied in the literature with supply chain finance (SCF) factors to evaluate SCF performance. Therefore, in this paper, the authors investigate the interrelationships between SCF and supply chain collaborative (SCC) factors for achieving SCF performance. The authors identified the most important factors from the literature on SCF and SCC and with inputs from experts in the textile industry in Pakistan. Design/methodology/approach: The authors employed the Gray-Decision Making Trial and Evaluation Laboratory approach to help examine the cause-and-effect relationship between the factors and identify the influence of each factor on the others. Findings: The findings showed that the most prominent factors of the study are "level of digitalization", "information sharing", and "collaborative communication", and "most effect factors of this study are incentive alignment" and "information quality". Furthermore, the "Level of digitalization" was identified as the factor with the central role and most significant correlation with other factors. Research limitations/implications: The major implication of the study is that textile industries should effectively develop their supply chain decisions after analyzing their internal and external factors, which will help in developing strategies that will facilitate better management of SCF relationships. The limitations of the study are that only 15 SCF and supply chain collaborative factors were considered, and time and scope are also limited. This study is only applied in the textile industry, so generalization may be limited. Originality/value: To date, this study is the only one that has taken into consideration SCC with SCF factors to evaluate supply chain performance. This paper therefore makes this initial attempt and original contribution to this discussion, which can be helpful for those working to enhance supply chain performance, such as practitioners and policymakers. [ABSTRACT FROM AUTHOR]

Purpose: This paper evaluates the performance of actively managed conventional and Islamic equity funds in a developing economy with a focus to assess the performance-growth puzzle posited by Gruber (1993) (a.k.a Gruber's puzzle). Under the context of an emerging market of Pakistan, this study explores if actively managed equity fund (AMEF) managers have been able to add value by outperforming the market in terms of stock-selection and market-timing abilities; and the comparative performance analysis of Islamic versus conventional AMEFs is also carried out. Design/methodology/approach: We employ Sharpe and Treynor ratios, Capital asset pricing model, Fama–French three factors model (1993), Carhart four-factor model (1997) and Hendrickson (1981) market timing models on 45 equity funds comprising of 23 conventional and 22 Islamic equity funds operating in Pakistan for a period of 10 years. The overall sample period (2008–2018) is divided into two 5 years sub-periods (i.e. 2009–2013 and 2014–2018) and three 3 years sub-periods (2009–2011, 2012–2014 and 2015–2017) to be viewed in conjunction with the country's macro-economic condition. Findings: We report that the actively managed equity funds (AMEFs) were unable to beat the market index with their stock selection or market timing capabilities. However, AMEFs depicted improved performance in the post-global financial crisis period where both conventional and Islamic AMEFs generated substantial rewards for the given amount of risk. Also, conventional AMEFs outperformed Islamic AMEFs potentially due to their holdings in highly leveraged value and large-cap stocks, while Islamic AMEFS invest more cautiously in small-cap and value firms. Analysis of market timing skills revealed that the funds have not been able to select the undervalued stocks and adopted a defensive strategy in the post-global financial crisis recovery period. Practical implications: Our findings shed some interesting insights and raise some pertinent questions for research, policy, and practice – specifically for developing countries' context. The no 'return-growth' configuration defies its fit with the 'Gruber puzzle' and somewhat presents a case of what we call the 'Inverse Grubber puzzle'. This novel notion of the 'Inverse Grubber puzzle' should inform policy and practice to reflect on their practices, institutional arrangement, regulatory framework and policy design in developing economies characterized by lacklustre performance and growth of AMEFs. For example, the regulatory design may consider focusing on stimulating financial inclusion and deepening by motivating low-cost Index tracker funds (ITFs) – with lower fund management costs, while allocating the avoided cost to flow towards effective marketing campaigns driving greater awareness, financial deepening, and investor base diversification. For future research, financial development researchers may explore the implications and appropriateness of AMEFs versus ITFs in other developing economies. Originality/value: The work reported in this paper is original and constitutes a valuable asset for ethno-religious-sensitive investors. The research has not been published in any capacity and is not under consideration for publication elsewhere. [ABSTRACT FROM AUTHOR]

Purpose: This paper analyzes and compares segments disclosure practices of listed companies of Pakistan and Bangladesh under International Financial Reporting Standard (IFRS) 8 with companies from India under Accounting Standard 17 over three-year period from 2013 to 2015. Furthermore, the purpose of this paper was to investigate that how the selection of chief operating decision-maker (CODM) by management, industry type, governance and firm characteristics affects segments disclosure practices in South East Asia. Finally, how the relationship among segment disclosure, firm characteristics and corporate governance is moderated through the big 4 audit firm. Design/methodology/approach: To achieve these objectives, data were collected from annual reports of the top 100 companies of each country and selected based on market capitalization for three years period 2013–2015. Findings: Results state that majority of companies in South East Asia are using business class for defining operating/primary segments. Regarding reporting of operating/primary segments and geographic/secondary segments along with geographic fineness score, Indian companies are continuously on the lower side as compared to companies from Pakistan and Bangladesh. Furthermore, it was found that industry type and selection of CODM have a highly significant effect on segments disclosure practices. Finally, results of regression analysis found that the application of IFRS 8 in Pakistan and Bangladesh has a significant positive effect on disclosure of operating/primary as well as geographic/secondary segments as compared to India. Further, the role of corporate governance mechanism in influencing segments disclosure was found as least in South East Asia. Further appointment of big 4 audit firm as external auditor has only significant positive effect on disclosure of segments items. Finally, based on additional analysis, it was found that big 4 auditor moderates the relationship only in the case of reporting of operating/primary segments. Research limitations/implications: Based on these results, the performance of Indian companies regarding disclosure of operating/primary segments, geographic/secondary segments along geographic fineness score is quite low despite the fastest growing economy in the world. This raises concerns about the quality of segment reporting in India, the world's fastest expanding economy. Originality/value: These results imply that there is a need of an effective role by the external auditor to improve the quality of segment reporting in developing countries, which is principle based. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the development of Islamic accounting education and discuss the main challenges facing this specific type of accounting education in the United Arab Emirates (UAE). Design/methodology/approach: The paper uses institutional theory to analyze the development of Islamic accounting education in the UAE. The collection of information in this study is based on secondary data available from published sources and websites. Findings: This study identifies three types of institutional pressures. First, coercive pressures that were directed by the government, the UAE's Central Bank and other professional bodies [e.g. Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI)] involved in the Islamic banking industry have contributed to the development of Islamic accounting education in the UAE. Second, mimetic pressures exerted by other countries that have already established Islamic accounting training and programs (e.g. Indonesia, Iran, Kingdom of Saudi Arabia and Pakistan) have incentivized the UAE business schools to implement Islamic accounting training and programs to meet Emirati Islamic banking industry expectations. Third, normative pressures are exerted by Big 4 auditors who have an active position as faculty members, influencing status in AAOIFI and a dominant position in the Islamic banking industry's audit market. The paper also discusses the main challenges facing Islamic accounting education in this country. Originality/value: This paper contributes to accounting literature in general and accounting education literature in particular in the following two ways. First, this study applies an institutional analysis to Islamic accounting education in the UAE to gain more understanding about the current status of the development of Islamic accounting education in the UAE. Second, by identifying the factors that may constrain the development of Islamic accounting education in the UAE, this study provides recommendations to financial and higher education authorities to undertake proactive actions to position the UAE as a leading center in Islamic accounting education and training. [ABSTRACT FROM AUTHOR]

Purpose: This paper introduces a conceptual lens for leading social change in slums and informal settlements. In line with this aim, the purpose of this case study is to describe the public problem-solving approach of a social change organization situated in an informal settlement through the lens of adaptive leadership, complexity theory and social change leadership (SCL). Design/methodology/approach: This paper follows an engaged reflection tradition. First, the author-practitioners describe an informal settlement case hereafter called ISC in southeast Iran where many people have historically remained undocumented and uneducated. Using complex adaptive systems theory, adaptive leadership and SCL as the conceptual lens, the paper analyzes ISC as a complex adaptive context in which the community and the government are in tension in solving problems, particularly illiteracy. The instrumental case study draws from participant observation and document analysis to describe and examine the endeavors of a community office operating within ISC. Through this reflective analysis, the authors illustrate how a social change organization can effectively tackle public issues like illiteracy within informal settlements. Findings: This paper applies complexity leadership theory to a social context. The study illustrates how social change organizations can support the transformation of informal spaces into adaptive spaces to enact social change. Originality/value: This paper reflects on engagement activity near the insecure borders of Iran, Afghanistan and Pakistan. By extending an organizational-level theory to the public sphere, this paper contributes theoretically to the complexity theory literature. Moreover, it provides a practical insight for community development and slum upgrading projects. [ABSTRACT FROM AUTHOR]

Purpose: The pandemic's health and social issues have significantly altered the character and manner of teaching and learning in higher education across the country. The use of technology to replace or integrate face-to-face learning with online learning has become a necessary requirement for promoting and continuing learning processes. Furthermore, integrating technology is a goal of Sustainable Development Goal 4 (SDG 4) to make teaching and learning more innovative and sophisticated. This paper is based on a systematic review grounded in a synthesis of research papers and documents analyzing the current status of teachers' pedagogy through online learning modes in the context of Pakistan. Design/methodology/approach: Through content analyses of academic studies in higher education and reflection on the online teaching experiences, this study discusses how students' learning is associated with teachers' teaching approaches in the modern era of digitalization and innovation. Findings: The review and analysis suggest that online teaching is not viewed as an innovative phenomenon; rather, teachers simply teach their traditionally designed face-to-face courses through the use of technology. The paper suggests that transforming teachers' pedagogical insight to make online learning sustainable is an urgent need for higher education. Originality/value: The analysis provides a basis for consideration of teacher learning and quality education (SDG #4) to fulfill the nation's agenda for sustainable development. The analysis helps educators and administrators in higher education institutions reflect on their policies and practices that have short- and long-term effects on students' learning outcomes. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to provide an analysis of National Accountability Ordinance 1999 (NAO) after June 2022 amendments. It raises a key question whether the new legislation is effective and improves anti-corruption operating system in Pakistan. Design/methodology/approach: This paper performs an analysis of recent amendments incorporated in NAO from the observations of superior courts, United Nations Corruption Convention and Financial Action Task Force (FATF) guidelines and also evaluates new legislation in terms of effectiveness in anti-corruption campaign. Findings: This paper finds that ample amendments are inessential, and thus may largely jeopardize accountability process; changes appear to be intentionally crafted to benefit some selected group of people: the definition of asset is compressed; the onus of proof is shifted on the informer; and provisions of money trail, foreign evidence and protection of approver are abolished; such changes defy to the UN Corruption Convention and FATF guidelines. A legislation endorsed from all stakeholders is suggested; additionally, improved strategies proposed to strengthen accountability process while keeping in view the constitutional issues relevant in the course of anti-corruption investigations. Originality/value: This paper is unique in the context of the anti-corruption strategies in Pakistan, highlighting the legal laxness of new government regarding corruption and money laundering. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the role of field-configuring events (FCEs) and situational context in the institutionalisation of sustainability reporting (SR) in Pakistan. Design/methodology/approach: This paper uses insights from the institutional logics perspective and qualitative research design to analyse the interplay of the institutional logics, FCEs, situational context and social actors' agency for the institutionalisation of SR among leading corporations in Pakistan. A total of 28 semi-structured interviews were carried out and were supplemented by analysis of secondary data including reports, newspaper articles and books. Findings: The emerging field of SR in Pakistan is shaped by societal institutions, where key social actors (regulators, enablers and reporters) were involved in the institutionalisation of SR through FCEs. FCEs provided space for agency and were intentionally designed by key social actors to promote SR in Pakistan. The situational context connected the case organisations with FCEs and field-level institutional logics that shaped their decision to initiate SR. Overall, intricate interplay of institutional logics, FCEs, situational context and social actors' agency has contributed to the institutionalisation of SR in Pakistan. Corporate managers navigated institutional logics based on situational context and initiated SR that is aligned with corporate goals and stakeholder expectations. Practical implications: For corporate managers, this paper highlights the role of active agency in navigating and integrating institutional logics and stakeholders' expectations in their decision-making process. For practitioners and policymakers, this paper highlights the importance of FCEs and situational context in the emergence and institutionalisation of SR in developing countries. From a societal point of view, dominance of business actors in FCEs highlights the need for non-business actors to participate in FCEs to shape logics and practice of SR for wider societal benefits. Social implications: From a societal point of view, dominance of business actors in FCEs highlights the need for non-business actors to participate in FCEs to shape logics and practice of SR for wider societal benefits. Originality/value: This paper focuses on the role of FCEs and situational context as key social mechanisms for explaining the institutionalisation of SR. [ABSTRACT FROM AUTHOR]

Purpose: This paper attempts to explore the green-lean-six sigma (GLSS) practices in the continuous process industry particularly in the flexible packaging (FP) industry in an emerging economy for addressing environmental sustainability issues. Design/methodology/approach: The authors have employed a qualitative multiple-case approach to examine managerial perspectives on GLSS adoption in the flexible packaging industry. Semi-structured interviews with senior corporate managers in two large FP organizations in Pakistan were conducted as the primary source of data collection. Findings: Drawing on the natural resource-based view (NRBV), the analysis revealed that organizations are implementing key GLSS practices such as environmental management system (ISO 14001), cause–effect analysis, renewable energy sources, total productive maintenance, and statistical process control to effectively manage waste, conserve resources, control air emissions, and improve environmental and workplace safety. Originality/value: The authors argue that this is one of the first research studies that has utilized NRBV to investigate the application of the GLSS approach in the process industry, specifically in the FP industry in an emerging economy. [ABSTRACT FROM AUTHOR]

Purpose: As Covid-19 became a pandemic, numerous people were forced to stay at home, leading to increased intimate partner violence (IPV) in many countries, particularly in developing and least-developed ones. This paper aims to highlight the IPV based on 15 different cases formed from the practical evidence of five developing countries. Design/methodology/approach: The authors interviewed 15 women from five countries who were the victims of IPV during the early periods of Covid-19 outbreak. Due to geographical remoteness, the authors conducted informal telephone interviews to collect the participants' personal experiences. The conversations were recorded with participants' permission; afterwards, the authors summarized participants' experiences into 15 different cases without revealing their original identities (instead, disguised names were used). Findings: It was revealed that the women were the primary victims of such violence, particularly from their intimate partners (husbands). In most cases, such IPV, as reported by the interviewees, originated or increased after the pandemic when they were forced to stay at home, losing their partners' jobs or income sources. Originality/value: The authors summarized the causes of IPV and put forward a few action recommendations based on the interviewees' practical experience and existing literature. This paper will open a new window for research investigations on IPV during emergencies such as Covid-19 outbreak. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the extent of price clustering in a selection of Islamic stocks listed in Indonesia, Malaysia and Pakistan and also investigates the determinants of the phenomenon at the firm level. Design/methodology/approach: The author test the uniformity of price distribution in the selected securities. Then, the determinants of price clustering were investigated through multivariate analysis based on a binary logistic regression model. Following the arguments of Narayan et al. (2011), who emphasize the importance of considering firm heterogeneity when studying the phenomenon, the author conducts the empirical study at the firm level. Findings: The evidence indicates that Islamic stocks show a mild level of price clustering. Only half of the stocks under analysis rejected the uniformity test in the distribution of prices. In these cases, investors exhibited a preference for prices ending at zero and five. The evidence does not confirm the cultural clustering theories. Price clustering is found to be positively associated with price level and relative bid-ask spread. Overall, the negotiation hypothesis, which predicts that investors prefer round prices to minimize the costs associated with negotiations, best explains most of our results. Research limitations/implications: The existence of price clustering is difficult to reconcile with the prediction of the efficient market hypothesis that prices should follow a random walk. Moreover, the evidence indicates that Muslim investors share a preference for round prices in some settings, under the assumption that Islamic stocks are mostly traded by Muslim investors. Originality/value: To the author's best knowledge, this is the first study to address the subject of price clustering in Islamic stocks. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to develop and test a research model that investigates feedback avoidance behavior (FAB) as a mediator of the impact of leader knowledge hiding (LKH) behavior on creativity and job performance. The model also examines whether leader-follower value congruence (LFVC) moderates the aforementioned mediating linkages. Design/methodology/approach: Data were collected from hotel managerial employees in two waves and their superiors in Pakistan. The hypotheses were gauged via macro PROCESS. Findings: The findings reveal that LKH behavior intensifies employees' FAB, which, in turn, impedes their creativity and job performance. The findings further demonstrate that the positive impact of LKH behavior on FAB is stronger among employees high on LFVC. Practical implications: Management should arrange workshops that highlight the critical role of leader's knowledge sharing with the relevant individuals. This is so important because knowledge hiding behavior heightens FAB and erodes creativity. These workshops can be followed by training programs, which focus on the importance of knowledge exchange and feedback-seeking behavior. Top managers' and/hotel owners' participation in these programs can be a force for mutual trust and cultivate LFVC. Originality/value: The hospitality and tourism literature is devoid of evidence about the underlying process through which LKH behavior influences employee outcomes. The paper enhances current knowledge by proposing FAB as a mediator of the influence of LKH behavior on creativity and job performance. The paper is the first of its kind by assessing whether LFVC moderates the indirect influence of LKH behavior on creativity and job performance via FAB. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to probe the prevailing belief that engaging in innovative work behavior (IWB) will invariably lead to favorable outcomes. To do so, the paper integrates followership theory and cognitive dissonance theory to investigate the connection between employees' IWB and despotic leadership, and the mediating role of interpersonal conflict with the supervisor in this connection. Moreover, the moderating impact of the supervisor's dispositional resistance to change trait on the direct and indirect relationship between IWB and despotic leadership is explored. Design/methodology/approach: The data were collected through a multi-wave survey of 350 employees and 81 supervisors working in 81 public schools. Findings: The findings show that IWB has a positive and significant relationship with despotic leadership, and this relationship is mediated by interpersonal conflict with the supervisor. Originality/value: To the best of the authors' knowledge, this is the first study that examines the link between IWB and despotic leadership via interpersonal/dyadic conflict and explores the moderating effect of leadership dispositional resistance to change trait in this indirect relationship. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the impact of the revised Code of Corporate Governance 2017 (CCG-2017) clauses pertaining to board independence, mandatory inclusion of female directors, audit committee (AC) chair independence and directors' expertise on earnings manipulation. Design/methodology/approach: Using an unbalanced panel of 323 listed companies from 2015 to 2019, this study uses panel data regression models with a robust methodology called difference-in-differences to tackle the potential endogeneity. Findings: This study's findings show that, as compared to the pre-CCG-2017 period, board- and AC-related variables increased significantly in the post-CCG-2017 period. Furthermore, financial experts on the board and board independence have a negative effect on discretionary accruals (DAs), whereas female directors and DAs are positively related, as is real activity manipulation. The AC-related variables, such as AC independence, expertise in AC, and AC chair independence, are significantly different from the preperiod to the postperiod, whereas their relationship is not according to the hypotheses of the study. Moreover, these results are robust to additional analysis of the alternative proxies for female directorship and the endogeneity problem. Practical implications: The findings of this study have implications for regulators and practitioners who are concerned with the functions of the board of directors (BOD). The findings of this research study show that earnings management (EM) may be reduced by independent and expert directors. However, board gender diversity is not reducing the EM. Therefore, the decision to appoint female directors to the board should be based on their business and professional attributes rather than simply filling quotas or blindly adhering to regulations. Moreover, the findings of this research may assist the regulator in encouraging listed firms to enhance board governance via independence, diversity and competency, which are useful for effective monitoring. Originality/value: This study fills a gap in the literature by providing the first evidence of country-specific regulation (CCG-2017), concerning the BOD and AC-related clauses on EM in Pakistan, which is missing in the relevant literature general and in Pakistan in particular. [ABSTRACT FROM AUTHOR]

Purpose: The widespread integration of artificial intelligence (AI)-enabled personalization has sparked a need for a deeper understanding of its transformative potential. To address this, this study aims to investigate the mental models held by consumers from diverse cultures regarding the impact and role of AI-enabled personalization in their lives (i.e. individual well-being) and in society (i.e. societal well-being). Design/methodology/approach: This paper uses the theories-in-use approach, collecting qualitative data via the critical incident technique. This data encompasses 487 narratives from 176 consumers in two culturally distinct countries, Belgium and Pakistan. Additionally, it includes insights from a focus group of six experts in the field. Findings: This research reveals that consumers view AI-enabled personalization as a dual-edged sword: it may both extend and restrict the self and also contribute to an affluent society as well as an ailing society. The particular aspects of the extended/restricted self and the affluent/ailing society that emerge differ across respondents from different cultural contexts. Originality/value: This cross-cultural research contributes to the personalization and well-being literature by providing detailed insight into the transformative potential of AI-enabled personalization while also having important managerial and policy implications. [ABSTRACT FROM AUTHOR]

Purpose: Collaborative projects require overlapping skills and capabilities to facilitate knowledge transfer. However, not all kinds of learning are virtuous and some may lead to leakage of commercially valuable knowledge. The purpose of this paper is to explain and restrain leakage of organizational competitive knowledge in collaborative projects. Design/methodology/approach: A total of 398 survey questionnaires are collected from project-based firms in Pakistan. We gathered data from horizontal and vertical collaborations. Analysis is conducted with transaction cost economics lens through Process Macro 3.0. Findings: Findings suggest that partner's learning intent (PLI) and distrust positively affect knowledge leakage, whereas human resource management (HRM) practices have negative effect on knowledge leakage. Furthermore, HRM practices negatively moderate the relationship between PLI and knowledge leakage and distrust positively mediates it. Research limitations/implications: This study integrates HRM with knowledge management to restrain knowledge leakage and contributes to knowledge management and strategic management. This study examines knowledge leakage in the presence of passive opportunism. Originality/value: This study explains how passive opportunism translates into opportunistic behavior. Besides, effectiveness of HRM practices are least surveyed to restrain passive and active opportunisms. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to discuss relationship between job resources and employees adaptive job performance. Using the job demands-resource (JD-R) theory, the paper examines the mediating role of work engagement in the relationship between job resources and adaptive job performance. The study also explores the moderating role of psychological contract fulfillment. Design/methodology/approach: The study is based on data gathered from 254 employees of hospitality sector in Pakistan through a Web-based survey. The statistical verification conducted through using partial least squares structural equation modeling. Findings: Findings has confirmed that job resources positively related to employees' adaptive job performance. Furthermore, the mediation effect is explained by employees' work engagement. Interestingly, employee psychological contract fulfillment moderated the positive relationship between job resources and employees' work engagement. Originality/value: The present study expands the previous research that validates the assumptions of job demand-resources theory into hospitality employees to harness job resources with employees' engagement and performance as well as highlight the role of psychological contract fulfillment. [ABSTRACT FROM AUTHOR]

Purpose: This paper examines the influence of different types of political connections and political uncertainty on earnings credibility in Pakistan. Based on discernible differences, connected firms are grouped into civil connected and military connected firms. Design/methodology/approach: The authors provide evidence concerning the earnings credibility incentives of groups of political connected firms and report that their incentives are significantly different. The findings remain robust to alternate methods of earnings credibility. Findings: The findings evidence that civil (military) connected firms report less (more) credible earnings than the control group. High political uncertainty reduces the credibility of earnings. Results for the interaction of political connections and political uncertainty variables are not significant. Research limitations/implications: The paper investigates just one aspect of Pakistan's political economy, i.e. credibility of earnings; thus, it requires to be cautious on part of readers and policymakers. To reach a clearer conclusion, earnings credibility should be ex amined in the larger context, i.e. in conjunction with rent extractions, etc. A possible extension of the paper can be to investigate the channels of rent extractions used by the two types of connected firms. Practical implications: The paper has contribution for policymakers as well as users of general purpose financial reports. The findings indicate that the users of general purpose financial reports should be more careful in the use of financial information during political uncertain periods and also of politically connected firms. Furthermore, policymakers should keep the larger context at the forefront while attempting to strengthen the enforcemnet regime. Originality/value: This paper adds to extant political connections literature by identifying two types of politically connected firms and report that both groups have divergent financial reporting incentives. Furthermore, political uncertainty reduces the credibility of earnings. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to contribute to the social aspect of corporate social responsibility literature by examining the influence of financial analysts' spirituality on their socially responsible investing (SRI) decisions relating to a profitable organization, which is alleged by the media to employ children as laborers in hazardous works in Pakistan. This study also investigates whether analysts' social consciousness mediates between their spirituality and investing decisions. Design/methodology/approach: A scenario-based survey was administered to 124 financial analysts at leading financial institutions in Pakistan. Data were analyzed using regression, analysis of variance and mediation analysis on SPSS 26. Findings: The findings demonstrate that financial analysts' spirituality negatively influences their SRI decisions to invest in a profitable organization, which is alleged to employ children in hazardous work that may harm them physically and psychologically. The findings also express that analysts' social consciousness intervenes in the association between analysts' spirituality and SRI decisions. Practical implications: The findings of this study may interest regulators, multinational firms and researchers in recognizing the importance of individuals' values for increasing socially responsible investments and addressing social issues such as the exploitation of children. Social implications: This study encourages firms to recognize the importance of spiritual and socially conscious corporate conviction while designing strategies and policies. For example, the financial industry may incorporate fundamental personal values such as stewardship, dignity and fairness into its investment plans. Originality/value: This study provides rigorous insights and contributes to contemporary studies by providing empirical evidence that individuals' intrinsic values and consciousness drive their judgments. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore the role of perceived organizational injustice (POI) leading to workplace conflict in determining organizational performance (OP) among healthcare employees. This paper also examines the serial mediating effects of moral disengagement (MD) and knowledge hiding (KH). Design/methodology/approach: In all, 244 public and private hospital employees in Pakistan provided the data set. Findings: According to partial least squares-structural equation modeling findings, the negative association between POI and OP was serially mediated by KH and MD. The recovery process underlying the linkage between POI and OP is tested and highlighted in this paper as a first step in unraveling it. Research limitations/implications: The findings highlight the significance of taking moral and KH models into account when attempting to understand the moral cognitive processes that employees go through when they see injustice. Organizations should guarantee the equitable distribution of incentives and resources, as distributive and procedural justices are concerned with organizations. Originality/value: By directing actions meant to prevent MD and KH, the findings may potentially inspire new, more focused treatments to safeguard patient safety and avoid losses in the healthcare industry. One way to reduce unethical conduct and MD is to have people declare or agree to a code of ethics. [ABSTRACT FROM AUTHOR]

Purpose: Given the extensive evidence of femvertising's positive effects in Western cultures, this paper aims to investigate how femvertising may influence customers' perceptions and brand-related outcomes in a patriarchal context such as Pakistan. Design/methodology/approach: Qualitative methodology was employed in this study, which was based on in-depth interviews involving 17 consumers (including both male and females). Thematic analysis was used to analyse the data. Findings: Results indicated that male and female consumers revealed varied and sometimes contradictory perspectives on the perception, understanding and behaviour towards femvertised adverts, which are governed by patriarchal gendered norms. Originality/value: This study contributes to the body of knowledge by exploring the consumer perception towards femvertising in a patriarchal context, where gender disparity is evident. It also draws attention to the underlying cultural elements contributing towards the formation of those perceptions. [ABSTRACT FROM AUTHOR]

Purpose: In this paper, the authors study the phenomenon of price clustering in the Pakistan Stock Exchange (PSX), a market viewed as one of the best-performing stock markets in the world during 2014–2017. The authors study the effect of stock-level variables on price clustering and analyze the determinants of the cross-sectional patterns of price clustering in the PSX, in particular the causal link between price clustering and political instability. Design/methodology/approach: The authors' dataset comprises daily observations on 100 PSX stocks spanning from January 1, 2009 to June 30, 2019. The authors use multivariate regression and spectral analysis to shed light on the dynamics of stock price clustering in PSX. Findings: The authors document abnormally high levels of stock price clustering, particularly on integer increments, in PSX. The nature of stock price clustering in PSX is consistent with the negotiation hypothesis of Harris (1991). The levels of stock price clustering on PSX are persistent and contain a cyclical component. Furthermore, the authors find that political uncertainty in Pakistan is a significant contributor to the high levels of price clustering on PSX. The authors' conclusions are robust to alternative econometric specifications and different measures of price clustering and political uncertainty. Practical implications: The authors' findings are of interest to investors and policymakers. Since price clustering decreases market quality and degrades the information content of stock prices, the authors' study shows that price efficiency in PSX has not improved despite major reforms over the last decade. One practical implication of the authors' results is that investors should be cautious while rebalancing portfolios around political events such as general elections because stock price clustering increases in the PSX during these periods. As a result, stock prices are likely to deviate from their intrinsic values. Originality/value: Research on price clustering is limited to developed markets, and emerging/frontier markets have been largely overlooked. The phenomenon of price clustering in the PSX has yet to be studied, despite the relevance of the PSX for emerging/frontier market investors. [ABSTRACT FROM AUTHOR]

Purpose: Surgery is predominantly a masculine profession worldwide and has largely excluded women in leadership positions. This paper aims to examine the representation of women surgeons in leadership positions in Pakistan. Design/methodology/approach: Data were drawn from larger qualitative research examining the experiences of women surgeons in Pakistani hospitals. The data comprises in-depth interviews with ten doctors working in the Rawalpindi and Islamabad cities. The participants were selected by using the purposive sampling method and data were analyzed using thematic analysis. Findings: This study included participants from diverse surgical specialties from different stages of their career with two having leadership experience. Based on participants' perspectives several factors are responsible for this exclusion of women in leadership positions. The most prominent among these were long working hours for surgical leaders, greater responsibilities assigned to leadership positions, gender stereotypes and work–family conflict. Due to masculine hegemony, women were considered less capable and they were expected to have masculine traits to work as successful leaders. Interestingly, some participants had internalized such stereotypes and showed a lack of interest and lack of capabilities for surgical leadership as evident from their narratives. Research limitations/implications: The findings of this paper are drawn from the perspectives of ten women surgeons working in Islamabad and Rawalpindi cities of Pakistan who were selected using a convenient sampling method. Hence, the results cannot be generalized to the larger population of women surgeons working in other cities of the country. Nevertheless, this study is unique in the sense that it provides useful insight into the experiences of the women surgeons and their perspectives on surgical leadership in Pakistani hospitals. Academically, it contributes to the global debates on surgical leadership by providing empirical evidence from Pakistan. Originality/value: This paper contributes to the larger debates on the under-representation of women in leadership positions in surgery by unveiling the experiences of female surgeons from Pakistan. It calls for the need for structural changes in health management and policy to accommodate women surgeons. Organizational efforts could minimize some hurdles and encourage more women to take on more formal leadership roles. The authors also call for an increasing number of women in surgery to pave the way for creating new leadership opportunities. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to examine the impact of various economic, social and environmental issues on the sustainable development of Pakistan, both directly and indirectly through the sustainability dimensions of China–Pakistan Economic Corridor (CPEC), a multi-billion-dollar megaproject. Design/methodology/approach: Using a quantitative (deductive) methodological approach, data were collected using a strategy of an online questionnaire survey from diverse stakeholders of CPEC in Pakistan. Partial least squares-based structural equation modeling technique was used to test the relationship between observed and latent variables. Findings: The results confirmed the positive impact of various economic, social and environmental issues on the sustainable development of Pakistan directly and indirectly through the partial mediation of sustainability dimensions of CPEC. Practical implications: Sustainability perceptions of stakeholders about CPEC and its relationship with sustainable development are critical issues for governments and policymakers. This paper suggest how economic, social and environmental dimensions of CPEC can enhance the positive perception which is necessary for stakeholder involvement and support for megaprojects such as CPEC. Originality/value: This study evaluated the megaprojects of CPEC from a sustainability perspective through stakeholders' perceptions by proposing and testing a parsimonious research model that has never been examined in the existing literature. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to explore the types of Shariah capabilities of Islamic banks, which provide bases for the types of Shariah value propositions, offered by the relationship managers in their front-line service experiences with the customers. Design/methodology/approach: A resource-based view of Shariah capabilities and a service-dominant logic view of value propositions are adopted. Fifteen relationship managers from multiple Islamic banks in Pakistan are interviewed to find a typology of Shariah capabilities and a resultant typology of value propositions for Islamic banks. Findings: The findings suggest that Islamic banks claim to possess five types of Shariah capabilities, namely, Shariah governance capability (SGC), Shariah compliance capability (SCC), Shariah monitoring capability (SMC), Shariah structuring (product) capability (SSC) and Shariah learning capability (SLC). These capabilities lead to four types of values propositions, namely, Shariah identity value (SIV), Riba-free value (RFV), Shariah disclosure value (SDV) and Tangibility value (TV) of the real assets in transactions. Research limitations/implications: The study has relied on the front-line experiences of relationship managers who are connected to the Islamic banks' capabilities inside the banks and the value propositions that they offer to show relationships with customers in front-line service experiences. Other stakeholders may have different perspectives on both capabilities and value propositions. Originality/value: This paper contributes to Islamic finance theory by theoretically and empirically showing two typologies for the Islamic banks' capabilities and value propositions, respectively. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to contribute to the corporate social responsibility (CSR) literature by providing holistic insights into financial analysts' personal values, perceived behavioural risk and investment decisions relating to the social aspects of CSR. Specifically, this paper examines whether analysts' personal values, such as religiosity, spirituality and social consciousness, influence their investment decisions relating to a highly profitable firm that is alleged of exploiting labour rights. This study also examines the mediating role of analysts' perceived behavioural risk between personal values and investment decisions. Design/methodology/approach: Data were collected, using a scenario-based survey, from 145 financial analysts at both public and private companies in Pakistan. Findings: The results show that analysts' values, including religiosity, spirituality and social consciousness, have a significant negative impact on their investment decisions. The results also demonstrate that perceived behavioural risk mediates the relationship between these values and investment decisions. Practical implications: This study has implications for the globalised business world, regulators and researchers for incorporating personal and ethical values into risk and investment decision-making. Originality/value: This study establishes the importance of analysts' personal values in risky investment decision-making. [ABSTRACT FROM AUTHOR]

Purpose: Using the canvas of the author's sojourn with the Islamic preaching group Tablighi Jamaat, this study aims to exhibit reflections on how spaces can be categorized as more sacred or less sacred according to a specific religious worldview. The paper extends the conversation on Mary Douglas's concepts of purity and danger by sharpening the focal lens on place in Douglas's theoretics. The paper also proffers the idea of a sojourn as a vehicle of purification. Design/methodology/approach: This paper depicts findings from the author's multi-sited ethnographic field notes carried out from a 40-day sojourn with the Islamic preaching group Tablighi Jamaat in Pakistan. Findings: The study unveils the concept of relative sacredness or how some spaces can be considered more sacred than others. The differential sacred status of these variegated spaces, each with its own etiquettes, meaning and consumption rituals is a means for purification for sojourners. Originality/value: This paper prioritizes a focus on place in Mary Douglas's arguments on purity and impurity in a religious consumption context. The thesis argues that place is a significant concept associated with metaphorical cleanliness/sacredness, which in religious terms guides consumer action. [ABSTRACT FROM AUTHOR]

Purpose: This paper focuses on knowledge storage, knowledge accessibility and the associated challenges with these processes in an interorganizational project. For this purpose, the context of the Orange Line (OL) metro train project in Pakistan is examined, where multiple organizations were involved. Design/methodology/approach: This study adopts an exploratory single case study approach. The empirical data comprise semi-structured interviews and archival documents. Thematic analysis is used for analyzing the data. Findings: The distinct findings include (1) the use of knowledge storage systems, such as manual storage systems, electronic storage systems and assigning a dedicated resource; (2) that knowledge accessibility occurs at different levels within the organization (including intradepartmental and interdepartmental levels) as well as at interorganizational levels and (3) the challenges, such as misuse of knowledge, time pressures, confidentiality of sensitive knowledge, government regulations and the reliance on human memory, which are associated with knowledge storage and knowledge accessibility. Based on the findings, an integrative framework of the interplay between knowledge storage, knowledge accessibility and challenges is proposed. Originality/value: This paper contributes to the literature on resource-based theory by examining knowledge storage and accessibility in an interorganizational project. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to provide a review of Anti-Money-Laundering (AML) after the latest amendments, i.e. Anti-Money Laundering Act of 2020 in Pakistan. Design/methodology/approach: This paper performs a detailed review of AML and related laws and amendments to record notable changes and improvements in the recent amendments and drew a comparison among these legal amendments. Findings: This paper finds that recent amendments are essential and judiciously crafted to cover the legal clinches, ensuring effective implementation of AML laws and positive expected outcomes for Pakistan. Originality/value: This paper is unique in the context of the ongoing struggle against money laundering (ML) in Pakistan; covering the legal progress of Pakistan regarding ML, corruption and terrorism financing. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to explore the empirical determinants of exchange-rate volatility (ERV) in selected Asian economies, namely, Bangladesh, China, India, Indonesia, Malaysia and Pakistan. Specifically, it examines how the volatility of foreign reserves, government spending, industrial production, gold prices and terms of trade affect monthly ERV during the examined period. Design/methodology/approach: The authors carry out the empirical analysis by using monthly data for the period January 1997–March 2019. First, the volatility of the underlying variables is measured based on the conditional variances obtained by estimating the univariate (generalized) autoregressive conditional heteroskedasticity [(G)ARCH] model for each variable during the study period. Next, the autoregressive conditional heteroscedasticity (ARCH)-Lagrange multiplier test is applied to ensure that there are no remaining ARCH effects in the residuals. Finally, the multivariate autoregressive-moving average-GARCH (1, 1) models are estimated to examine whether and how the volatility of the underlying variables affects ERV. Findings: The results reveal that the current period volatility of exchange rates is significantly affected by ERV in the previous period in all selected countries. The results also indicate that the volatilities of the underlying macroeconomic variables are quite differently related to ERV in examined Asian countries. Foreign-reserve volatility (VFXRES) has negative and significant impacts on ERV in Bangladesh, China and Malaysia. Government-spending volatility is negatively related to ERV in India, whereas it is positively related to ERV in all other examined countries. The results also suggest that although terms-of-trade volatility reduces ERV in both Bangladesh and Pakistan, it amplifies ERV in the remaining examined countries. However, gold-price volatility (VGOLDP) significantly, positively contributes to ERV in Bangladesh, Indonesia and Malaysia. On the contrary, the higher volatility in industrial production (VIPI) results in lower ERV in Indonesia and Pakistan, whereas it increases ERV in China, India and Malaysia. Practical implications: The findings have several important policy implications. First, the findings suggest that both Bangladesh and Malaysia should keep an adequate level of foreign reserves to stabilize their foreign exchange rates. Second, as government-spending volatility has a vital role in determining ERV, it is necessary to bring sustainability and continuity in government expenditures. Bangladesh and Pakistan can stabilize their foreign exchange rates by making exports more competitive, viable and accessible. Originality/value: This paper significantly contributes to the existing literature by exploring how the behavior of unexpected variations in the factors determining exchange rates affects ERV in selected Asia countries. Most of the published studies have examined the determinants of exchange rates by considering the macroeconomic variables at their levels. Departing from the existing studies, this paper significantly relates the volatility (second moment) of exchange rate determinants to the behavior of ERV. Further, this paper provides firsthand empirical evidence on this issue for the selected Asian economies. [ABSTRACT FROM AUTHOR]

Purpose: While digital labour platforms are being increasingly studied across the Global South, the existing literature does not conceptualise the theoretical link between such platforms and socio-economic development. This paper theorises such a link drawing on the notion of institutional voids defined, as in Khanna and Palepu (2010), as "the absence of intermediaries to efficiently connect buyers and sellers" in an economy. We frame digital labour platforms as means to fill institutional voids, seeking to create "development" in the form of earning opportunities in contexts of deprivation. Design/methodology/approach: We draw on an interpretive case study of an online work training project in a deprived region of Pakistan, where members of marginalised communities were trained to become freelancers for global digital labour platforms. We use the notion of market-enabling institutions aimed at filling institutional voids as a lens to study the project's declared goals, examining the extent to which these were met in practice for the workers who participated in the training. Findings: Our analysis reveals three types of market-enabling institutions–credibility enhancers, aggregators and distributors, and transaction facilitators–through which digital labour platforms seek to fill institutional voids. However, workers' narratives reveal that institutional voids are only partially filled by these platforms, and their perpetuation results in diverse forms of power asymmetries leveraged by clients and owners of the platforms. We also observe the formation of solidarity networks among workers, networks that are intra-familial and societal rather than characterised by formal unionisation. Originality/value: The paper offers a novel perspective to theorise the link between digital labour and socio-economic development. Applying such a perspective in a Global South context, it also finds the limits of the digital platforms' institutional void-filling potential, highlighting the emergence of power asymmetries and the emerging formation of worker solidarity networks. [ABSTRACT FROM AUTHOR]

Purpose: Given the relative importance of the Shari'ah supervisory boards (SSBs) in Islamic banks' (IBs') performance, this study aims to examine the impact of SSB diversity on IBs' performance from the stakeholders' perspective in the context of Pakistan. Design/methodology/approach: Random-effects model and generalized method of moment are used to investigate the impact of SSB diversity on IBs' performance across a panel data of 22 Islamic banks in Pakistan from 2005 to 2020 inclusive. Findings: The findings of this study show that SSB size, SSB relevant educational background diversity, bank's size and bank's stability have a positive impact on IBs' performance. In contrast, SSB age, nationality and cross-membership diversities have a negative impact on IBs' performance. Moreover, SSB gender, tenure and general educational diversities have no significant impact on IBs' performance. Research limitations/implications: SSB diversity and IBs practices are different across different jurisdictions. This study is conducted on IBs in Pakistan because of data constraints; thus, the results of this study may not be generalizable to other countries' IBs. Practical implications: In structuring the SSBs' framework, the regulatory authorities and policymakers should consider mandating an ideal SSB size and hiring relevant qualified members with low cross-membership to improve IBs' performance. Thus, the structure potentially attracts Muslim stakeholders, enhances their satisfaction and improves IBs' performance. Social implications: Having diversified members in the SSB, IBs equally benefit both individual and group stakeholders in society. Diversity in SSB members enhances IBs' performance and the social welfare of various stakeholders in society. Originality/value: To the best of the authors' knowledge, this is the first empirical research that examines comprehensively the impact of SSB structural and demographic diversities on IBs' performance in the context of Pakistan. This paper contributes to the unique Shari'ah governance structure in the context of Pakistan. Additionally, this study may serve to assist IBs' stakeholders in better comprehending the SSB practices of IBs in Pakistan. [ABSTRACT FROM AUTHOR]

Purpose: The link between SME performance, growth and development is well established; however, the characteristics of SMEs that allow firms to be successful in the long run in an underdeveloped country context, i.e. Pakistan, are still unclear. This paper aims to bridge this gap by identifying the SMEs' characteristics that set them apart from their rivals and become successful. Design/methodology/approach: This study uses Storey's development framework to identify the SMEs' characteristics. Data is gathered using the case study method from SMEs with a metropolitan context in Pakistan. A narrative methodological framework was used during the data gathering and analysing stages. Findings: Findings of this study indicate that the prosperity of SMEs in Pakistan is dependent on a combination of characteristics, including entrepreneurial characteristics of owner–managers, knowledge of business operating models, social networks and relationship building and innovation in business style. Additionally, other factors such as governance structure, strategic planning of market diversification and export characteristics also influence the prosperity of an SME. These findings may have several important implications for key stakeholders, including entrepreneurs, SMEs and policymakers in the government. Originality/value: This research provides evidence about factors that can help an SME to become successful in uncertain situations surrounding a business environment. Theoretically, the contribution of this research is that it demonstrates that entrepreneurial characteristics and the effective leadership style of owner–managers can help SMEs achieve prosperity in external unforeseeable situations. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the tacit knowledge-sharing framework among Pakistani academicians. The objective is to study trust and social networks as antecedents to foster tacit knowledge sharing with the mediating role of commitment. Furthermore, the moderating role of organizational knowledge-sharing culture is also examined. Design/methodology/approach: The study applied a survey-based quantitative research design to test the proposed model. The nature of data are cross-sectional and collected with stratified random sampling among public sector higher education professionals of Pakistan. The total sample size for the present research is 247 respondents. The variance-based structural equation modeling technique by using Smart_PLS software is used for analysis. Findings: Data analysis and results reveal that trust and social networks are significant predictors of tacit knowledge sharing among Pakistani academicians while commitment positively mediated the relationships. While the moderating role of organizational knowledge-sharing culture is also established. Research limitations/implications: The current research explains tacit knowledge sharing among academics with fewer antecedents i.e. social network and trust with limited sample size and specific population. There is still a great deal of work to be done in this area. Hence, the study provides direction for including knowledge-oriented leadership and knowledge governance in the current framework. Moreover, the framework can be tested in different work settings for better generalization. Practical implications: The study gives an important lead to practitioners for enhancing tacit knowledge sharing at the workplace through a robust social network of employees, building trust and boosting employees' commitment, as well as through supportive organizational knowledge sharing culture. Originality/value: The research comprehends the tacit knowledge sharing framework with theoretical arrangements of trust, social networks, commitment and culture in higher education workplace settings under the umbrella of social capital theory. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to examine the impact of trust propensity on both objective (salary) and subjective (career satisfaction) indicators of career success and investigate the mediating role of organizational identification in these relationships. Design/methodology/approach: The sample for this study consisted of 187 Pakistani employees who were selected from three units of a large footwear company. The research hypotheses were tested through structural equation modelling. Findings: Results showed that as theorized, organizational identification fully mediated the effects of trust propensity on salary and career satisfaction. Originality/value: To the best of the author's knowledge, this is the first study which has explored the effects of trust propensity on objective and subjective measures of career success. Furthermore, this paper highlights one possible pathway in the form of organizational identification through which trust propensity relates to different career outcomes. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to describe the lived experiences of modern urban mothers in Pakistan as they navigate shared motherhood responsibilities with family elders. This paper brings to light their feelings, fears and ambitions towards safeguarding the environment for the future of their children, by reconciling ancient traditions of their female elders with contemporary sustainable consumption practices. Design/methodology/approach: This phenomenological study explores lived experiences of urban mothers through in-depth personal interviews. Their discourse explores sharing childcare responsibilities with family matriarchs, negotiating "green" parenting strategies between intergenerational parenting partners. Findings: Navigating life through the intersections of modernity and tradition and ethical choices and consumerism, urban mothers integrate wisdom of their ancestors into their modern lives to mitigate the environmental degradation of today. Originality/value: This study sheds light on a unique genre of green mothers, termed as the traditionally green eco-mom, which allows modern mothers and their female elders to synchronously adopt sustainable childcare behaviours that overcome intergenerational barriers by reconciling contemporary lifestyles with traditional wisdom. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to assess the impact of big data analytics capabilities (BDAC) on organizational innovation performance through process-oriented dynamic capabilities (PODC), as a mediator, as well as the moderating roles of organizational culture (OC) and management accountants, in this artificial intelligence (AI) era. This paper also aims to provide information on the emerging trends and implications of the abovementioned relationships by focusing on these relationships and interactions. Design/methodology/approach: This exploratory study used the close-ended questionnaire approach based on the resource-based view and socio-materiality theories. This included sending questionnaires to top-level management, including Chief Financial Officer/Chief Executive Officers/Chief Information Officers (CFO/CEOs/CIOs), having an in-depth understanding of the concepts, practical applications and usage of big data as well as BDAC.181 valid questionnaire-based responses were analyzed using the partial least square structural equation modelling technique and bootstrapping moderated mediation method. Findings: This study provides empirical insights into how BDAC impact innovative performance through PODC as well as the moderating effects of OC and management accountants. This involves a shift in focus from almost standardized approaches to developing BDAC without contextual focus on approaches that are much more heterogeneously related to each organization and hence are more focused on the context of the pharmaceutical industry. Research limitations/implications: The main aim of key research questions in this study is to increase the contributions of BDAC toward improving innovation performance in the presence of the abovementioned variables and relationships that exist between them. The chosen research approach can be improved by carrying out interviews with the top management to obtain more relevant and detailed information for developing a better understanding of the abovementioned relationships. Practical implications: This study outlines how organizations that are developing BDAC approaches can focus on relevant factors and variables to help their initiatives and its role in organizational innovative performance. This will also help them develop sustainable competitive advantage in manufacturing concerns, specifically in the health industry, namely, the pharmaceutical industry. Originality/value: This study investigated the effects and implications of big data on organizations in the AI era that aim to achieve innovation performance. At the same time, it provides an original understanding of the contextual importance of investing in BDAC development. It also considers the role of management accountants as a bridge between data scientists and business managers in a big data environment, especially in the pharmaceutical industry. The current study used first-time data from surveys involving CFOs, CEOs or CIOs of pharmaceutical companies in Pakistan and analyzed the proposed model using bootstrapping moderated mediation analysis. [ABSTRACT FROM AUTHOR]

Purpose: Trust within hawala networks (HN) (a type of deeply embedded informal value transfer network) has been associated with minimal bureaucracy, relationship versatility and low operational costs. In the absence of formal governance structures, HN business relationships largely depend on trust as a control mechanism that brings operational efficiency and transactional effectiveness. However, a basic and a static view of HN business trust has been reported. This paper aims to track the progress and development of trust within HN. More specifically, this paper charts HN relationship trust transformation from inception to maturity. Social exchange theory (SET) and Dwyer et al. (1987) topology of formal business relationship development were used as conceptual frameworks to study development of trust within HN. Design/methodology/approach: Twenty-five in-depth interviews were conducted with HN members in the South Asia region. Chain referral sampling was used to contact and recruit suitable respondents within the semiscattered HN. The data were collected from practicing and retired HN members from Qatar, Saudi Arabia and Pakistan. The data were analyzed using keyword categorization and further substantiated, and validated, by NVivo analysis. Findings: Four types of trust (i.e. calculative, verifiable, reciprocal and earned) were identified in HN relationships. It was revealed that trust progressed in a stepwise fashion from calculative trust (basic trust form) to earned trust (ultimate trust form). SET explained the progression of trust in terms of key drivers of different trust types at various stages of HN exchanges and relationships. In addition, it was observed that HN trust development followed Dwyer et al. (1987) topology of business relationship development. Originality/value: This study extended the oversimplistic treatment of trust within HN by looking into its different types and its transformation over time. More specifically, this research provided an insight into how various types of trust were used within deeply embedded informal business networks to maintain and nurture business exchanges. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to evaluate and understand the factors that contribute to the enhancement in the process of supply chain activities, specifically among manufacturing industries. Design/methodology/approach: This paper follows the quantitative approach by disseminating a structured questionnaire to supply chain practitioners working in manufacturing industries. A sample of 109 responses is gathered from senior employees involved in sales and operations planning. Exploratory and confirmatory factor analyses are performed to evaluate the reliability and validity of the model. Lastly, SmartPLS is used to test the hypotheses proposed in the study. Findings: The findings revealed that demand sensing and managing practices positively impact supply chain performance by creating dynamic distribution capabilities. It is observed that distribution capabilities integrate both efficient and effective handling of resources. However, demand management practice has insignificant relationship with supply chain performance. Research limitations/implications: The authors suggest that supply chain management must expand in firms, and importance must be given as supply chain performance can provide competitive advantage in order to sustain in today's competitive market. Practical implications: The findings can help decision-makers working in the planning process by identifying the right tools to sense the market and react accordingly. Originality/value: This paper is an initial effort to understand the dynamic distribution capabilities by establishing the link with the studied variables, especially in the manufacturing industries in Pakistan. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the impact of corporate governance on financial reporting quality (FRQ) in Pakistan and the UK. Design/methodology/approach: In this paper, three accrual-based models are used to analyse FRQ for a sample of 1,550 firm-year observations, including 78 Pakistani firms and 77 UK firms, for the period 2009–2018. Findings: The analysis shows that board size has a negative impact on FRQ while foreign ownership has a positive impact for Pakistani and UK firms. It also shows that board independence has a positive impact on FRQ of Pakistani firms, while board meetings frequency and audit committee independence have a negative impact. We make no such observation for UK firms. In addition, the analysis shows that board gender diversity and ownership concentration negatively affect FRQ of UK firms. This study makes no such observation for Pakistani firms. Research limitations/implications: Due to the study's focus on Pakistani and UK firms, the findings may not be generalizable to other developed and emerging economies. Practical implications: The findings provide valuable insight to policymakers, regulators and investors by suggesting that the impact of board composition on FRQ of both Pakistani and UK firms is weak. The findings suggest that board size and foreign ownership are the attributes that require regulatory focus to increase FRQ. The negative impact of audit committee independence on FRQ induces rethinking among the policymakers in Pakistan and calls for fully independent audit committees. Originality/value: To the best of the authors' knowledge, this is the first research endeavour to compare the context of a developed and an emerging economy regarding the impact of corporate governance on FRQ. It also contributes to the governance literature by using three measures of FRQ and a comprehensive set of corporate governance attributes. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to identify current challenges that hinder university–industry (U-I) collaboration in Pakistan and presents future opportunities for promoting such collaborations in developing countries. Design/methodology/approach: This exploratory study presents new empirical evidence obtained from Pakistan via a questionnaire survey of 24 universities, 25 interviews with key stakeholders including industry managers and outputs from a high level workshop event. Findings: Although there is limited evidence of U-I engagement in Pakistan, the findings show that a lack of coordination between government, universities and industrial firms has hindered knowledge transfer between universities and industry. Such steps as utilising intermediaries to help broker effective collaborations and building trust-based relationships can help in socialising these types of scientific activities. Research limitations/implications: Any overall conclusions drawn from this exploratory study can only be tentative, as the findings represent a snapshot of current U-I collaboration initiatives in Pakistan. Practical implications: Less stringent policy interventions from government entities, as well as more universities willing to invite industry input on their board of studies might enable co-development of some university curriculums with industry partners. U-I collaborations could also help to boost innovation efforts in developing country firms. Originality/value: This paper also offers awareness into benefits of teaching activity collaboration with industry partners, which has been an under explored area of past U-I collaboration studies. The findings should be of interest for both innovation policy and higher education policy researchers. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to investigate the role of consumers' (patients) motives in knowledge sharing and value co-creation with the service provider in the context of physiotherapy services. Design/methodology/approach: The authors used partial least squares structural equation modeling for the analysis of the physiotherapy services users' data from Germany and Pakistan. Findings: The results show that in both consumer groups, individualizing, empowering and development motives are common influences on the willingness to share knowledge leading to value co-creation. However, the relating, ethical and concerted motives show varying influences in the data set. Research limitations/implications: A key research implication relates to specifying the link between consumer knowledge sharing and value creation and the role of cultural factors in this context. It is one of the first studies to undertake a comparative analysis in this specific context by highlighting the changing role of consumers from collective and individualistic societies, in influencing service provision through participation in the service exchange. Practical implications: For the managerial audience, this paper highlights the importance of being sensitive to cultural elements as they tend to influence personal knowledge sharing by the consumer, especially in the well-being sector, which ultimately influences the value co-creation. Originality/value: To the best of the authors' knowledge, the current paper is one of the first studies focusing on the knowledge sharing motives of consumers in the specific context of physiotherapy services leading to value co-creation. Moreover, specific focus on individual consumer's motives and their role in comparative, cross-cultural settings, adds further value to the contribution of this study. [ABSTRACT FROM AUTHOR]