Search results

The purpose of this paper is to observe whether measurement of social capital is an effective tool or can be used as a standard tool for community‐based initiatives (CBI) evaluation. It also points at the significance of social capital in the health related grass root initiatives.

CBI is an integrated socio‐economic development approach implemented by the organized communities, supported by inter‐sectoral actions for improvement of quality of life and health of the people. Support by WHO's office of Eastern Mediterranean Region, Islamic Republic of Iran implement programmes like basic development needs, healthy cities, healthy villages and women in health and development, that are evaluated during 2005‐2006. Social capital, that includes the networking, sharing norms and cooperation amongst communities, is measured as one of the indicators during the evaluation, by surveying 240 households in three CBI and three control villages, using the World Bank's, Social Development Department's Social Capital Assessment Tool for data collection.

The evaluation results reveal that the social capital indicators like affiliation percentage; trust reciprocity; and collective action are better in CBI areas than their controls. CBI areas have a better access to public services, are more peaceful, people are more willing to help others and there is less segregation due to income and social status.

The evaluation findings support the use of social capital indicators for investigating the impact and affectivity of CBI for health and development, and underlines the need for their consideration during implementation processes and further investigation.

Teacher Education has been transforming throughout the world to cater to the emerging needs of quality education. Significant developments have taken place nationally and internationally in political, economic, and cultural fields, influencing education in general and teacher education in particular. The quality of education depends to a great extent on the quality of teachers. And, the quality of teachers depends on the way they are educated and trained. Pakistan has a vast education sector and a huge teaching force but teacher education in the country has not been keeping pace with modernization and development globally. Teacher education curricula, dissemination, evaluation and implementation revolved around traditional models for decades. However, there has been a growing realization to reform the teacher education system lately. The education policy (2009) of Pakistan indicates such realization on the part of the stakeholders. This chapter reports on an important teacher education reform program, which is based on collaboration between the government of Pakistan and the USAID. The Teacher Education Project (TEP), assisted by USAID, is a reform initiative that aimed at restructuring and modernizing teacher education in Pakistan. This chapter aims to provide insights into the objectives, importance and achievements of the project in terms of shaping the future direction of teacher education in Pakistan. It reports on the substantial structural and policy changes that took place in teacher education under the project. This chapter also highlights the possible challenges in the way of useful implementation and sustainability of this and similar education reform initiatives in Pakistan.

The purpose of current study was to investigate the impact of supervisor support on Knowledge Sharing Behavior through psychological well-being, psychological ownership, and Alturism. The study also took mindfulness as first path moderator in the relation to supervisor support and psychological well-being, and psychological ownership.

Positivism research philosophy followed by the deductive approach is followed to meet the objectives of the current study. A total of 219 employees from the telecom sector were identified as the respondents of the study. A purposive sampling technique was used to collect the data through self-administrated questionnaires. Exploratory and confirmatory factor analyses were used through AMOS to generate the results and test hypotheses.

The results suggested that supervisor support significantly contributes to the achievement of the knowledge-sharing behavior of employees with the chain of mediation, i.e. psychological well-being, ownership and altruism. Similarly, the moderating role of mindfulness is significant in the relationship between supervisor support and psychological well-being.

Although a number of researchers have studied the link between supervisor support and other employees related attitudinal and behavioral outcomes, few have explored the roles of psychological ownership, well-being and altruism in the relationship of knowledge sharing behavior. This study thus posits a novel sequential mediation and moderation mechanism, based on the social exchange theory, through which supervisor support is translated into knowledge sharing behavior.

Cost estimation is a major concern while planning projects on public–private partnership (PPP) terms in developing countries. To bridge the gap of the right approximation of cost of capital, this study aims to sermon a significant role of investor’s risk perception as unsystematic risk in PPP-based energy projects.

To investigate the effective mechanism of determining cost of capital and valuing the capital budgeting, a pure-play method has been acquired to measure systematic risk. In addition, dynamic conditional correlation (DCC) and generalized autoregressive conditional heteroscedasticity (GARCH) models have been applied to calculate weighted average cost of capital.

Initially, a joint cost of capital of energy-related projects has been calculated using DCC-GARCH and pure-play method. Investors risk perception has been discussed through market point of view using country risk premium modeling. Latter yearly betas have been calculated using DCC signifying the final outcomes that applying a dynamic model can provide a better cost estimation in emerging economies.

The findings are implicating that due to the involvement of international investors, domestic risk is linked with country risk. In such situations, market-related information is a key factor to find out the market performance, helping in the estimation of cost of capital through capital asset pricing model (CAPM). High dynamic nature of emerging economies causes an impediment in the estimation of cost of capital. Consequently, to calculate risk in dynamic markets, this study has acquired DCC model that can predict the value of beta factor.

Study contributes to the body of knowledge by addressing an important issue of investor’s risk perception and effective implication of CAPM using pure-play and DCC-GARCH when data is not promptly available in dynamic situations.

This paper aims to contribute an Islamic critique of various competing economic system’s theories of interest, which have evolved within the distinct ideological frameworks of distinct rival economic systems and religions from the point of view of discovering potential effective Islamic economic solutions of the interest-driven modern economic, financial and banking and debt crises and the related problems of inflation, extreme, wealth inequalities and extreme poverty.

This historical research paper portrays the chronological evolution of competing narratives and theories of interest in realms of religions, philosophies and rival economic systems for contributing their comparative review and critique from an Islamic point of view in light of the pertinent literature of multidisciplinary history of religions, philosophies and economic thought. It develops an Islamic critique of theories of interest in light of interactions among history of religious thought on interest, history of economic thought on interest and economic theories of interest and the interest-driven economic crises for highlighting potential Islamic interest-free solutions of the modern economic crises in the framework of the Islamic political economy. In light of an Islamic critique of various competing theories of interest, the paper presents pertinent economic policy recommendations for the governments of the countries of the contemporary Muslim world.

The interest-free Islamic economic, as well as banking theories and models, offer the potential practical exploitation-free and injustice-free humanitarian solutions of the contemporary persisting macroeconomic crises (national, regional and global economic crises, financial crises, debt crises and banking crisis). Current Islamic discourses on interest and interest-free Islamic banking have effectively promoted the popularity and growth of global Islamic banking industry in the Muslim world in the 21st century.

Keeping in view a general universal consensus of the Islamic jurists on the elimination of interest of all types from the economy, it is recommended for the Governments of the Muslim countries to implement a consensus-based Islamic banking model, which uses only the Islamic juristic consensus-based Islamic modes of banking and finance – Musharikah, Mudharabah and Al-Qardh Al-Hassan (interest-free loan) – for precluding the possibilities of emergence of controversies about the prospective Riba-free Islamic economic and banking system. Litmus test of the practical success of the interest-free Islamic universal economic and banking system is the successful elimination of all forms of Riba (interest) and all possibilities of its involvement in extractive and exploitative activities in letter and spirit.

This research paper contributes a comprehensive logical and objective critique of various competing prominent theories of interest from an Islamic economic point of view and highlights their pertinent practical macroeconomic problems-cum-consequences as well as the potential Islamic macroeconomic policy responses in the form of interest-free Islamic banking/monetary/fiscal policies.

The purpose of this paper is to explain the mediational mechanisms in the relationship of perceived supervisor support (PSS) with turnover intention (TI) and task performance (TP).

Data were collected through questionnaires from the academic staff of Pakistani universities. The theoretical model was tested using data collected from 304 respondents by using structural equation modeling technique. Mediation analysis was performed with 5,000 bootstraps samples.

The results revealed that PSS affected TI negatively through the mediation of self-efficacy. Conversely to this, PSS influenced TP positively through the mediation of self-efficacy. In addition, the results also showed the direct effect of PSS on employees’ TP.

The results of this study suggest that the supervisor must provide adequate support to the academic staff, which helps them to develop their self-efficacy. Self-efficacy is helpful for the employees to reduce their TI and to improve their TP.

This study is the first of its nature which explained the direct and indirect effects of PSS on TI and TP by using the framework of social learning theory and social exchange theory simultaneously.

Because of the growing financial market integration, China’s stock market’s volatility spillover effect has gradually increased. Traditional strategies do not capture stock volatility in dependence and dynamic conditions. Therefore, this study aims to find an effective stochastic model to predict the volatility spillover effect in the dynamic stock markets.

To assess the time-varying dynamics and volatility spillover, this study has used an integrated approach of dynamic conditional correlation model, copula and extreme-value theory. A daily log-returns of three leading indices of Pakistan Stock Exchange (PSX) and Shanghai Stock Exchange (SSE) from the period of 2009 to 2019 is used in the modeling of value-at-risk (VaR) for volatility estimation. The Student’s t copula has been selected based on maximum likelihood estimation and Akaike’s information criteria values of all the copulas using the goodness-of-fit test.

The model results show stronger dependency between all major portfolios of PSX and SSE, with the parametric value of 0.98. Subsequently, the results of dependence structure positively estimate the spillover effect of SSE over PSX. Furthermore, the back-testing results show that the VaR model performs well at 99% and 95% levels of confidence and gives more accurate estimates upon the maximum level of confidence.

This study is helpful for the investment managers to manage the risk associated to portfolios under dependence conditions. Moreover, this study is also helpful for the researchers in the field of financial risk management who are trying to improve the returns by addressing the issues of volatility estimations.

This study contributes to the body of knowledge by providing a practical model to manage the volatility spillover effect in dependence conditions between as well as across the financial markets.

In developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the deficit sectors for productive investments that will in turn increase the level of employment and economic growth. There has being a rising trend in unemployment rate in Nigeria and South Africa and hence, the need for the study to assess the effectiveness of banking system credit in curbing unemployment rate by making a comparative analysis of Nigeria and South Africa covering the period of 1991–2018.

The study employed the unit root test, Johansen cointegration test, vector error correction model and VAR impulse response function in determining the relationship between the variables.

The major findings revealed that banking system credit matters in curbing unemployment rate in South Africa than in Nigeria. Also, other macroeconomic factors such as lending rate, inflation rate, Government expenditure and population growth were significant enough in influencing unemployment rate in South Africa than in Nigeria. Foreign direct investment was a significant factor in reducing unemployment rate in Nigeria than in South Africa. The cointegration test showed a long-term relationship between the variables in both countries while the speed of adjustment coefficient of the vector error correction model is faster in South Africa than in Nigeria.

Previous empirical studies on the relationship between banking system credit and unemployment rate have focused much on other regions such as Asia and Europe. Thus, the study is unique as it focused on the African region and also made a comparative analysis by testing the Keynesian theory of employment, interest and money on two emerging African economies which are Nigeria and South Africa.

Pakistan has experienced financial liberalization with rapid ups and downs in economic growth due to domestic issues during the last 2 decades. Motivated by inconclusive and conflicting time-driven findings about the performance of the business groups, this study examines the performance of business groups in Pakistan for a relatively long period from 2003 to 2018.

The study uses 3,821 firm-year observations from non-financial firms listed on the Pakistan Stock Exchange (PSX). For the estimation, pooled ordinary least squares (OLS) with industry- and year fixed effects and two-step system generalized methods of moments (GMM) are used.

The study finds that group-affiliated firms outperform independent firms in accounting performance, while underperform in market performance. The outperformance is mainly driven by medium-sized business groups, while underperformance is driven by small and large business groups. Further, the study documents that the underperformance in terms of market performance of firms affiliated with small and large groups is greater before the economic downturn, while outperformance in terms of the accounting measure of firms affiliated with medium-sized groups is greater during the economic downturn. These findings support our time-driven concerns. Overall, the authors' findings are consistent with institutional and transaction cost theories.

Business groups are important channels to reduce market inefficiencies. Business groups may enhance the affiliated firms' resources and resistance capacity through active utilization of the internal capital market, specifically when market conditions are not ideal for affiliates. However, effective utilization of internal capital markets depends on group size. Therefore, investors should deliberate on the size of business groups and diversification within business groups.

The authors extend the literature by providing fresh evidence related to the performance of business groups in the Pakistani context while accounting for the role of the size of business groups.

The purpose of this study is to identify and prioritize the factors that can positively influence the implementation of a blockchain-based supply chain via an integrated framework. To the best of the authors' knowledge, no previous study has focused on prioritizing these factors.

First, this study conducts a multivocal literature review, and a total of 48 success factors (SFs) are identified and mapped into 11 categories. Second, the identified success factors and their categories are further validated by industry practitioners using a questionnaire survey approach. Finally, this study applies an analytical hierarchy process to prioritize the identified SFs and their categories and to assess their importance for successful blockchain implementation in the supply chain management process.

The “Accessibility” category has the highest importance, and the “Overall efficiency” category has the second highest rank. As far as the success factors are concerned, “Trackability” and “Traceability” are considered to be the prime success factors of a blockchain-based supply chain. The taxonomy of the categories and their success factors provide an outline for supply chain organizations to establish a strategy to implement blockchain technology.

This technology can be practically applied in a sustainable supply chain. Another vital application of this blockchain technology is in banking and finance because of the blockchain's immutable data recording property.

To the best of the authors' knowledge, there is no previous study focused on building a taxonomic model that allows supply chain organizations to compare this paper's model with existing models and outline the necessary actions to improve supply chain activities. The questionnaire-based survey developed to validate the success factors in real-world practices and the factors' prioritization can help academic researchers and industrial practitioners to set their strategic goals accordingly.