CSRC Publishing: Open Journal Systems (Center for Sustainability Research and Consultancy)
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1354 research outputs found
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Islamic Microfinance and Women Entrepreneurial Success: Mediating Role of Human Capital
No full textPurpose: This paper examines Islamic microfinance impeding sustainable women’s entrepreneurial performance in South Punjab, Pakistan. Further, we examine whether human capital mediates the relationship between variables
Design/Methodology/Approach: To examine the impact, the
primary data were collected from 220 women entrepreneurs who obtained microfinance from Islamic microfinance institutions (IMFIs) and Non-Islamic microfinance institutions operating in South Punjab, Pakistan. The correlation and regression models are used to translate the relationship and measure the impacts of microfinance on women’s entrepreneurial performance.
Findings: Results show that Islamic microfinance plays a positive role in women's entrepreneurial success. Further, documented that IMFIs have contributed more to entrepreneurial growth as compared to non-IMFIs.
Implications/Originality/Value: This paper can be further extended by incorporating more factors and increasing sample size in order to get more significant results. 
Impact of Firm-Specific Factors on the Stock Prices: New Insight from Emerging Market of Asia
No full textPurpose: The purpose of this paper is to investigate the factors that can influence the share prices of listed firms.
Design/Methodology/Approach: The sample of 120 listed firms was selected from 2014–to 202020 was collected.
Findings: We documented a new insight that all the variables have a strong relationship between variables with the share prices except leverage. The ROA and Leverage show a negative relationship with the share price and EPS, dividend per share, firm size and price-earnings ratio show a positive relationship with the share prices.
Implications/Originality: This paper contributes to the existing literature and continuing debate about firm-specific determinants influencing share price in an emerging market, with a focus on manufacturing firms of Pakistan.
 
Impact of Green Intellectual Capital on Sustainable Green Banking: Moderating Role of Competitive Pressure
No full textPurpose: Adoption of an environmentalist perspective in banking operational base through social, economic, and environmentally sustainable activities becomes debatable for firm performance. The study aims to examine the impact of green intellectual capital on sustainable green banking and the moderating role of competitive pressure between them.
Design/Methodology/Approach: The study surveyed by using self-administrative questionnaires from the bank employees of Rawalpindi and Islamabad. The data was collected from a sample size of 351 by using a random sampling technique. The measures of Green Intellectual Capital (GIC) are encompassed three elements as Green human capital (GHC), Green Structural Capital (GSC), and Green Relational Capital (GRC) comprising 18 items (Yusof, Omar, Zaman, & Samad, 2019) and moderator competitive pressure comprising of 7 items was adopted (Sophonthummapharn, 2009).
Findings: The result of the study shows that green intellectual capital positively contributes toward achieving sustainable green banking. Competitive pressure moderates the said relationship in the context of the Pakistani banking sector. The finding of the study implies that banks in Pakistan implement green activities because of the competitive force of the external environment and achieve both sustainability in terms of environmental protection and less amount of carbon print. Therefore, banks have more focus on the use of green intellectual capital containing green human capital, green structural capital, and green relational capital than the banks achieve sustainable green banking.
Implications/Originality/Value: The study provides a practical implementation for banks to move towards sustainable green banking. 
Asset Commonality and Credit Expansion by Banks in Pakistan
No full textPurpose: Diversification by the majority of the banks in a system contribute to the progression of systemic risk on one hand and affects the lending behaviors of the banks on the other. Since lending behaviors of the banks directly affect the availability of credit to the non-financial sector, the situation may worsen, as a consequence of systemic risk. In this study, we examine the relationship between asset commonality and credit expansion by commercial banks in Pakistan.
Design/Methodology/Approach: We use post-global financial crisis data ranging from 2011-2020. A dynamic model is employed with a two-step system GMM technique to control for the problems of autocorrelation and endogeneity, as indicated by the pre-diagnostic tests.
Findings: Our results show that asset commonality significantly affects credit expansion by banks in Pakistan. Moreover, the direction of the relationship is negative implying that the asset commonality of the banks in Pakistan, induces banks on the individual level to contract credit to the non-financial sector.
Implications/Originality/Value: The findings are helpful for policymakers to devise and implement a prudent regulatory framework for the monetary sector, by not only targeting risk indicators of the financial sector but also keeping in view its repercussions to the real sector of the economy
Takaful Operators and Socio-economic Objectives during the Pandemic of Covid-19: Issues and Challenges
No full textObjective: Takaful operations in Malaysia have proven their credibility through the remarkable achievement in market structure and net contribution income. This research paper discusses on the issues and challenges faced by Malaysian Takaful Operators in contributing for the socio-economic objectives during the pandemic of Covid-19.
Methodology: In complementing this study, ten respondents from takaful industry will be interviewed in gathering their insight over the subject matter. This study is in line with the VBIT framework which have been introduced to achieve inclusive protection for the underserved or unserved segments of the society and to address relevant socio-economic issues.
Findings: Based on the findings, Malaysian Takaful Operators are optimistic about their performance always seek for the best opportunity in contributing to the society. Takaful Operators also believe that all the challenges that they are currently faced would not become the barriers for them to consistently contribute to the socio-economic objectives even it is not in the pandemic era anymore.
Implications: The proposed solution for the identified problems is part of the contribution in this study and can be very useful for the industry player. Some of the listed strategies are different from prior studies, and in fact, there is no study previously which have been discussing the challenges in detail
Portfolio Performance of Islamic Versus Conventional Market Indices and Regime Shift Behavior: Empirical Evidence from Asian Emerging Markets
No full textPurpose: The main objective of this study is to examine the performance analysis of Islamic and conventional portfolio of emerging market of Asia and to investigate whether Islamic indices outperform the conventional indices or not. Moreover, to investigate the regime shift behavior of these markets.
Design/Methodology/Approach: Emerging markets of Asia like China, India, Indonesia, Malaysia, Pakistan and Thailand are taken. Data is taken for the period January 2010 to December 2019. Data frequency is on monthly closing prices basis for both markets. Risk adjusted measures like Sharpe ratio, Treynor ratio and Jensen alpha are used for performance evaluation. Markov switching model is used to investigate the performance of both indices. Morgan Stanley capital international risk- free rate is used as risk proxy.
Findings: Sharpe ratio is outperformed in Islamic markets while Treynor ratio is outperformed in conventional markets. Jensen alpha is outperformed in Islamic market so result proved that mostly Islamic markets is outperformed. The Markov switching model divide the MSCI returns into two parts recession and expansion. Results indicated that the presence of regime in both recession and expansion period so investor can diversify the international portfolios. Mix portfolio strategy is indicated that investor behavior is indifferent. There is a change in both regime in recession and expansion period so investor consider the international portfolio diversification with regime shifts.
Implications/Originality/Value: This study is important for global investor as well as local investor for portfolio diversification. This study is also important for academic scholars, Regulatory authorities and for those who is interested in Islamic funds by their religious views.
 
Feeling Black & Blue yet at Work: Physical Job Stressors and Sickness Presenteeism with the Moderation of Organizational Justice
No full textPurpose: Cutthroat competition between the organizations has created tremendous job demands for employees, leading to increased implications for occupational health. This study investigated the impact of physical job stressors, i.e., workplace ergonomics, working conditions, and physical demands, on sickness presenteeism and the moderation of organizational justice (OJ). All the three dimensions of Organizational Justice, namely distributive justice, procedural justice, and interactional justice, were used as a moderator.
Design/Methodology/Approach: The current paper follows the positivism approach, and therefore, responses were collected on a structured questionnaire following a quantitative technique. The respondents belonged to the banking industry of Karachi. Using a two-step approach, structural equation modeling on smart PLS was used for analysis.
Findings: Findings indicate that physical job stressors, i.e., workplace ergonomics, physical demands, and working conditions, statistically impact sickness presenteeism.
Implications/Originality/Value: Furthermore, organizational justice alleviated the impact of physical job stressors on sickness presenteeism. This paper lays down implications for organizations as well as future research
Modelling Cost of Quality for Defect Reduction
No full textPurpose: This paper aims to develop the system dynamics model of managing quality costs using the perception maps prepared on the basis of the actual data of the organization. The model depicts the cost of quality and the associated defect percentage to represent the real-world data of the company under study. Model is validated using the different tests to build the confidence on the model. Underlying feedback structures and interactions among various variables make the model more robust and realistic.
Design/Methodology/Approach: The simulation software STELLA is used for programming the model. Using the generic structures of the cost of quality, stock and flow diagram is developed to map the real-life business scenario.
Findings: Cost of Quality is a forgotten dimension in many companies. Most of the companies are not measuring the cost of quality as a powerful indicator for quality measurement and for process improvement. Defect level is the function of prevention, appraisal and failures (PAF) costs associated with the PAF model. System Dynamics is computer-based simulation methodology that gains the insight of the social, economic, and business problems and acts as a powerful tool for policy design for better decision making.
Implications/Originality/Value: Policy analysis clearly indicate that dynamics of cost of quality is quite complex and to identify the prioritized parameter for investment cannot be intuitively appreciated. System dynamics is a simulation-based methodology which can solve the complex interactions and different policy runs lead to the best appropriate mix of cost elements in order to reduce the failure costs (internal and external)
Forestry and Governance as Two Pillars of Sustainable Development: Empirical Verification
No full textPurpose: One of the most common global concerns is Sustainable development for last three decades. For it, good governance of forestry can play a significant role. Accordingly, current paper empirically analyzes their relationship.
Design/Methodology/Approach: An index of Sustainable development is built. Then the data of forest area and governance indicator for period 2005-2019 for 128 countries, is subjected to estimation. In regression analysis, system generalized method of moments (SYS-GMM) is used for dynamic panel data specification, which can cater the issue of endogeneity in micro panels. Additionally, sample is bifurcated into developed countries and developing countries for segregated estimates.
Findings: Empirical results reveal positive effect of forestry and effective governance on sustainable development index.
Implications/Originality/Value: Recommendations include improving the governance practices and adoption of contemporary forms of forest management
Challenges Limiting the Role of Deaf Parents in Academics of their Children with Normal Hearing
No full textPurpose: The goal of this research was to investigate the difficulties that deaf parents have when it comes to the academic performance of their hearing children.
Methodology: Case studies based on qualitative paradigms were used for this study. Participants in the research were parents who were deaf themselves but whose children had normal hearing. The sample comprises of 14 deaf couples from two divisions of Punjab—Lahore and Gujranwala. The data collection method consisted of a self-developed interview schedule with open-ended questions. Thematic analysis, a qualitative method, was used to analyze the data.
Findings: Deaf parents have to deal with a number of obstacles, the most significant of which are communication barriers, attitudes they confront, and misunderstandings held by the community as a whole, all of which limit their capacity to participate in their children's academic lives who have normal hearing.
Implications: It was suggested to the various stakeholders that they should be required to play their respective contributing roles in the process of reducing the constraints that restrict the engagement of parents in the academics of their children on a consistent basis, beginning with the most fundamental level