Syed Alamdar Ali Shah

This study examines the intersectoral stock return linkages of the Indonesian sharia-compliant capital market under pre-pandemic and pandemic times. The closing prices on a daily basis, which were retrieved from Bloomberg Terminal, were estimated through the use of the Time Varying Parameter Vector Autoregressive (TVP-VAR) model in tandem with the Diebold and Yilmaz (2014) connectedness approach, with computation being done through RStudio. Results indicate a dramatic rise in sectoral return correlations during the pandemic, along with large spillover effects. The Consumer Cyclicals sector was the largest risk transmitter, and the Property and Real Estate sector was the largest risk receiver. These results highlight the significance of sectoral interdependencies, with important implications for investors in managing cross-sector risk and policymakers in crafting effective financial regulations.

Purpose: The global prevalence of customer incivility complexity negatively affects employee performance, which demands establishing an effective civility climate. Drawing on social exchange theory based on its nature of reciprocations, this study advances the knowledge by investigating how customer civility, shaped by civility climate, improves employee performance and how job coaching strengthens the relationship between customer civility and employee performance. Design/methodology/approach: A systematic random sampling was employed within the Pakistan hospitality industry and approached 379 employees, 69 supervisors and 304 customers. A multilevel modeling technique was used to analyze the association between variables. Findings: The findings reveal that a proactive civility climate significantly enhances customer civility, which boosts employee performance. Customer civility significantly mediates the relationship between civility climate and employee performance. While job coaching generally affects employee performance, its interaction with customer civility diminishes it in a scenario with high customer civility. Originality/value: This study’s contribution lies in its proactive approach to mitigating customer incivility by fostering a positive civility climate rather than relying on reactive strategies. It highlights the reciprocal cycle of social exchanges in the workplace. It uniquely examines the mediating role of customer civility and the moderating effect of job coaching on the relationship between civility climate and employee performance.

Halal tourism witnessed significant growth during the second half of the decade ended on December 2020 with the COVID-19 pandemic. This expansion can be witnessed equally in academic research and the Halal tourism industry. Keeping in view the phenom...

Purpose: The purpose of this research is to propose a framework for research on Macaulay duration and establish future research directions.Design/methodology/approach: Thematic, bibliometric and content analyses have been used to review 168 research papers published between 1938 and 2019 taken from ISI Web of Science and Scopus contributed by leading authors, journals and regulatory bodies.Findings: Identification and integration of themes of duration theory, duration model development and duration model implementation leading to unattended research gaps, and framework for research on Macaulay duration.Research limitations/implications: The study is based on an extensive review of the literature to extract important themes, research gaps and frameworks. It does not empirically investigate significance of Macaulay duration and various sectors.Practical implications: This research has several aspects that are helpful for practitioners. Macaulay duration has been the subject of empirical research only without any guiding framework. This research provides a platform to initiate profound researches in various areas of finance. Various proposed models are required to be tested under holistic approach in conventional and emerging fields, especially in Islamic settings.Originality/value: This research highlights, research themes leading to framework, research gaps and factors that are crucial in developing, extending and testing duration models leading to enhancement of theoretical base of Macaulay duration.

Purpose: The purpose of this paper is to propose models of duration for maturity gap risk management in Islamic banks.Design/methodology/approach: A thorough review of literature on duration modeling, duration measurement in Islamic banks andShariahcompliance has been conducted to set parameters to developShariah-compliant maturity gap risk management mechanism.Findings: Models based on durations of earning assets and return bearing liabilities using various rates of return earned and paid, benchmark rates and industry standards commonly used by Islamic and conventional banks.Practical implications: IncreasedShariahcompliance has threefold impact. Firstly, it will increase trust of customers. Secondly, it will help improve profitability by reducing non-Shariahcompliance penalties from the regulators. And finally, it will enhance market capitalization and returns stability to investors because of enhanced customer base, increased level of trust and increased profitability.Originality/value: This research proposesShariah-compliant maturity gap risk management models based on the concept of duration according to recommendations of Bank for International Settlements. As there is no such maturity gap risk management mechanism that meets the requirements ofShariahusing benchmarks that are common between Islamic and conventional banks; therefore, this research presents risk management solutions that can be applied simultaneously in the entire banking sector.

This research takes insights into the research on Islamic finance before and after the occurrence of financial crisis to rediscover its linkages with Islamic socialism and capitalism across international boundaries to establish grounds of Islamic finance theoretical framework. It takes extensive review of literature on Islamic Socialism, Capitalism and Islamic Capitalism taking into account differences in practices of Islamic finance in Islamic and non Islamic countries. Research in Islamic finance has great linkages with Islamic socialism, Islamic capitalism and capitalism as affected by the occurrence of financial crisis during the period of research. The originality value of this research work lies in the novel selection of period of research literature, and the discovery of theoretical framework in Islamic finance research, “Islamic socialistic capitalism.”

Purpose: The purpose of this research is to examine the factors that affect brand satisfaction of a Muslim customer who is making purchases from selling outlets on social media. Design/methodology/approach: The study used a new mechanism of sampling for research studies relating to social media which. Further, we used hierarchical regression to analyze the moderation effects of religiosity. Findings: The authors’ findings suggest that religiosity has moderation effects on the relationship between halal social media and brand satisfaction of a Muslim customer and even higher moderation effects on relationship between customer engagement and brand satisfaction of a Muslim customer. Research limitations/implications: The respondents of this research are completely unknown as the data has been collected from google-docs link sharing arrangement. Practical implications: This study identifies factors that need to be focused on winning the brand loyalty of a Muslim customer. Originality/value: This study provides a new sampling methodology to be used for the purpose of studies related to social media, which has been labeled as “social-media disguised snow ball sampling”. Further, this study is one of the few studies in the area of “halal social media”.

INTEGRATION OF FINANCIAL RISKS WITH NON FINANCIAL RISKS: AN EXPLORATORY STUDY FROM PAKISTANI CONTEXT

The objective of this manuscript is to present a book review of “Water Management in Islam” published by United Nations University Press, International Development Research Centre. The Book was published in the year 2001 when shariah compliance perspective was in its infancy. However, with the rapid growth of shariah compliance in almost every sector of the economy it is very important to review the recommendations of leading scholars in the area of water management as well. The book is the product of findings from a workshop on water management in Islamic world held in Jordan 1998 with the focus to contribute in local and international policies that improve quality and accessibility of water in MENA region. The contributions are towards water demand management, fair water reuse and fair pricing of water. Most valuable contribution of the book is reconciliation between Dublin principles and Islamic principles.

Objective of this research is to explore factors that contribute towards entrepreneurial motivation amongst university students in Pakistan. Data of 500 respondents from HEC recognized universities in Pakistan has been collected and analyzed for the purpose of our research. Data has been gathered from students of different degree programs commerce, business administration, banking and finance, and marketing department of public and private universities of Pakistan. A mediation model has been proposed and tested in order to achieve our objectives. Data has been analyzed using different econometric and statistical techniques. The results suggest that there exists some “psychological” and “economic” factors that influence the entrepreneurial motivation of university students in Pakistan. Over and above, there also that exits a group of psychological factors that partially mediate in our model.