Purpose – The core objective of this paper is to direct worldwide attention towards the unparalleled development in Islamic banking, its infrastructures and supporting institutions in recent years. This paper articulates the case for Islamic banking in a very comprehensive and effective...

Recently, Bodla and Bhatti (2007) revisited Davidson and MacKinnon’s (2002) well-known J test and noted that thought the test is simple to compute but lack small sample exact test computation properties. This paper is one of the attempts to compute a new version of the J test and compare its...

Purpose – The main objective of the paper is to understand the reasons why Islamic banking failed in Pakistan despite lots of efforts being made to implement in contrast to its success in other parts of the world. Design/methodology/approach – The paper is based on a debatable conceptual...

This paper considers a general family of Stein rule estimators for the coefficient vector of a linear regression model with nonspherical disturbances, and derives estimators for the Mean Squared Error (MSE) matrix, and risk under quadratic loss for this family of estimators. The confidence...

We report that the X-12 ARIMA and TRAMO–SEATS seasonal adjustment methods consistently underestimate the variability of the differenced seasonally adjusted series. We show that underestimation is due to a non-zero estimation error in estimating the seasonal component at each time period, which...

Purpose – Internal organizational orientation of service quality and its impact on service delivery performance of the employees have received considerable attention from financial management literature. The purpose of this paper is to address this issue by conducting empirical research...

The uncertainty of a country's economy, especially emerging economies, is partially due to the fluctuating of oil prices. There is also a growing concern about the relationship between oil price and stock markets in developing countries due to their heavy dependence on oil prices co-movements....

Tail dependence plays an important role in financial risk management and determination of whether two markets crash or boom together. However, the linear correlation is unable to capture the dependence structure among financial data. Moreover, given the reality of fat-tail or skewed distribution...

The concept of performance management is used by most of the organizations to ensure that either they are going on the right path or not. For managing the performance the organizations are required to know about the performance indicators. This paper explores the key performance indicators...

This paper addresses twin problems related to dividend smoothing and signaling. Firstly, it provides direct test for dividend smoothing and signaling. Secondly, this paper attempts to examine the impact of Global Financial Crisis (GFC) on dividend stability. The paper estimates the Lintner model...