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The explosion of E-commerce activities required academia and industry to recognize the key factors of customer online repurchase intention. The purpose of this study is to determine the primary drivers of customer repeat-purchase... more
The explosion of E-commerce activities required academia and industry to recognize the key factors of customer online repurchase intention. The purpose of this study is to determine the primary drivers of customer repeat-purchase intention in the aspects of trust and inertia. The study proposed an integrated model of online repeat-purchase intention. With the prevalence of internet, there is an interactive relationship build between consumer and online channels and now it has been paid much attention by practitioners and researchers. In E-Commerce, Online shopping is the innovation which comes through internet and online shopper repeat purchase intention is affected by many factors like; consumer inertia and online trust. Managers and Academics know fairly little about how the collective effect of consumer inertia and online trust affects the repeat-purchase intention. Based on the perspective of Theory of Reasoned Action (TRA) and PPM Model, the aim of study is to explore the relationship between consumer inertia, online trust and repeat-purchase intention in E-Commerce world. The moderating role of alternative attraction is also analyzed in the study and for the collection of data, survey analysis is conducted. Sample of study is 4100 customers of major cities of Pakistan (Rawalpindi, Islamabad, Lahore, Peshawar, Karachi, Quetta). This study found a result which is somewhat consistent with literature. Overall, it is concluded that consumer inertia and online trust has significant impact on consumer repeat purchase intention. Along with this, it is originating that alternative attraction moderates this relationship. Finding of this research will enable to suggest the website operators regarding management of different strategies for online consumer. Limitation, practical implication and future direction are provided at the end of this study.
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Introduction to Islamic Banking Growth and Development of Islamic Banking Difference Between Islamic and Conventional Banking Financial Instruments in Islamic Banking Risk Management in Islamic Banking Mortgages in Islamic Banking Islamic... more
Introduction to Islamic Banking Growth and Development of Islamic Banking Difference Between Islamic and Conventional Banking Financial Instruments in Islamic Banking Risk Management in Islamic Banking Mortgages in Islamic Banking Islamic Bonds Islamic Insurance Perception of Islamic banks and Customer Service Islamic Banking in Non-Islamic Countries Islam Banking in Islamic countries Case Studies from Pakistan, Malaysia, Sudan Future and Standardization of Islamic Banking after Global Banking Crisis
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Research Interests: Ancient History and Islam
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Research Interests: Islam and Islamic Banking
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The purpose of this particular study is to determine if any liquidity risk exists in the Islamic banks of Pakistan and, if it does, what effect it has on the resilience of the industry in that country. The participants of this study are... more
The purpose of this particular study is to determine if any liquidity risk exists in the Islamic banks of Pakistan and, if it does, what effect it has on the resilience of the industry in that country. The participants of this study are employees of Islamic banks. Our primary data was collected from three major cities in the country. This paper sheds light on the current situation in liquidity risk management. Further, we take a look at the attitudes of central and Islamic banks toward liquidity risk management policies. Regression models were applied in order to analyze the impact of liquidity risk management on Islamic banks. The findings show the effect of variables such as rational depositors and training on liquidity risk. The central bank provides Islamic banks with adequate rules and regulations, and the latter aim to control liquidity according to these rules as well as the requirements of depositors. The results of this paper offer useful insights for Islamic banks worldwide.
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Purpose In an attempt to enrich the literature of the efficiency of financial services sector with holistic perspective, this study aims to empirically investigate the input efficiency of banking and insurance sectors with further probe... more
Purpose In an attempt to enrich the literature of the efficiency of financial services sector with holistic perspective, this study aims to empirically investigate the input efficiency of banking and insurance sectors with further probe into Islamic segments of these sectors in Pakistan. Design/methodology/approach This study measures the technical, allocative, cost, and scale efficiencies of banking and insurance firms in our sample using the non-parametric frontier method, data envelopment analysis (DEA). Findings The findings show that, on average, the allocative efficiency of the overall Islamic financial services sector has increased during the period of study and has also remained well above their conventional counterparts. The study also revealed that, insurance sector is more technically efficient than banking sector. Finally, the study also found that overall efficiency of financial sector can also be improved by exchanging experts between two sectors. Originality/value The...
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This study aims to examine the impact of different capital ratios on Non-Performing loans, Loan Loss Reserves, and Risk-Weighted Assets by studying large commercial banks of the United States. The study employed a two-step system... more
This study aims to examine the impact of different capital ratios on Non-Performing loans, Loan Loss Reserves, and Risk-Weighted Assets by studying large commercial banks of the United States. The study employed a two-step system generalized method of movement (GMM) approach by collecting the data over the period ranging from 2002 to 2018. The study finds that using Non-Performing loans and Loan Loss Reserves as a proxy for risk, results support moral hazard hypothesis theory, whereas the results support regulatory hypothesis theory when Risk-Weighted Assets is used as a proxy for risk. The results confirm that the influence of high-quality capital on Non-Performing loans, Loan Loss Reserves, and Risk-Weighted Assets is substantial. The distinctive signs of Non-Performing loans, Loan Loss Reserves, and Risk-Weighted Assets have indications for policymakers. The results are intimate for formulating new guidelines regarding risk mitigation to recognize Non-Performing loans and Loan Lo...
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This paper analyzes the performance of Islamic banks operating in Pakistan according to their financial results of the year 2015. CAMELS rating model is applied in this research. This model is based on certain financial ratios which are... more
This paper analyzes the performance of Islamic banks operating in Pakistan according to their financial results of the year 2015. CAMELS rating model is applied in this research. This model is based on certain financial ratios which are excerpt from values in the financial statements of banks. The authors conduct the research under the umbrella of quantitative paradigm. The authors found that 2 of the Islamic banks are showing satisfactory results, while others are on fair position. There is a need to develop financial markets for treasury operations for these banks. Results help in development of growth strategy for Islamic banks in Pakistan, as well as they might be useful to create a fair snapshot for regulators to develop growth strategy for this stream of banking. Keywords: Islamic banking, performance, growth analysis, CAMELS. JEL Classification: G02, G21, G32
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This research explores the role of interest rate as a moderator in credit risk management, influencing the performance of banking industry in selected developed countries using a two-step GMM model. The annual data of the top 10 banks of... more
This research explores the role of interest rate as a moderator in credit risk management, influencing the performance of banking industry in selected developed countries using a two-step GMM model. The annual data of the top 10 banks of the selected 10 developed countries ranging from 2001 to 2020 was used. The developed countries or G-10 are Belgium, Canada, France, Germany, Italy, Japan, Sweden, Switzerland, the United Kingdom, and the United States, which are the originators of the Basel Accords. Bank performance, proxied by ROA, ROE, ATO, and NPM, is dependent. Interest rate is a moderator, independent and indexed, developed after netting off lending interest rate (LIR), interest rate spread (IRS) & net interest margin (NIM). The credit risk management index (CRM index) was derived after netting off the effects of extra ordinary financing of net loans and leases, negativity of nonperforming loans, and secured cushioning of risk-weighted assets. The results confirmed that CRM im...
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EThOS - Electronic Theses Online ServiceGBUnited Kingdo
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(ProQuest: ... denotes formulae omitted.)I. INTRODUCTIONThe efficient market hypothesis has been the cornerstone of asset pricing since the early to mid-1960s, developed through prominence articles such as Malkiel (1962) and Fama (1965,... more
(ProQuest: ... denotes formulae omitted.)I. INTRODUCTIONThe efficient market hypothesis has been the cornerstone of asset pricing since the early to mid-1960s, developed through prominence articles such as Malkiel (1962) and Fama (1965, 1970). However as suggested by Fakhry and Richter (2015), the efficient market hypothesis relies on some untestable assumptions and models like perfectly competitive markets and rational risk averse profit maximising market participants. Hence as suggested by Ball (2009), there have been many criticisms from policy makers and academics, especially in the aftermath of the financial crisis. Conversely, the momentum in the 1990s of behavioural finance also highlighted the issues surrounding the efficient market hypothesis. Essentially the efficient market hypothesis is difficult to test, however as Fakhry and Richter (2015) suggest it is possible to test the efficiency of the market through the use of the Shiller volatility test as derived by Shiller (1981a)The GIPS (in essence the Greek, Italian, Portuguese and Spanish) markets have deep-rooted structural and imbalance issues in their economies as highlighted by Landesmann (2013) and Gros (2012) among others. Conversely, the GIPS markets are also at the centre of the Eurozone sovereign debt crisis. For these reasons, it would be interesting to test the impact of the crises on the efficiency of the GIPS sovereign debt markets.As we are testing the efficient market hypothesis, we start this paper with a short review of the tests and empirical evidence of market efficiency. The next section gives methodology of the empirical test. Section III presents the data and empirical results and Section IV concludes.II. REVIEW OF THE TESTS OF THE EFFICIENT MARKET HYPOTHESISIn testing the efficient market hypothesis, we need to test whether markets follow the random walk model and prices incorporate information immediately. The variance ratio tests of Lo and MacKinlay (1988) allow the testing of the random walk model, the influencing assumption in the weak form efficient market hypothesis. However, a key factor is as stated by Fama (1970); any test of the efficient market hypothesis involves a joint hypothesis of the equilibrium expected rates of returns and market rationality. Thus, there is a need to review the variance bound test of Shiller (1979) and LeRoy and Porter (1981) which states any excess volatility in the price of any asset is the result of inefficient markets as argued by Shiller (1992). This would mean that in a rational market, fundamental information is not the driving force of the price and inefficiency in the market drives the price away from the long-term equilibrium.As stated by Bollerslev and Hodrick (1992) past empirical evidence suggests that there is a difference between short and long horizons with short horizons displaying only minor violations of the efficient market hypothesis while with long horizons, large proportions are more predictable based on the price variance being largely explainable by past prices alone. Of course, this does not mean that markets are inefficient. A possible explanation is that the price variations could be due to time varying risk premium. However, as Poterba and Summers (1988) argue the magnitude of the variability is too large, to be explained by the rational pricing theory. The evidence from the long horizon tests seem to point at an overlapping issue suggesting the statistics are better estimated with an alternative asymptotic distribution as derived by Richardson and Stock (1989), although, as Bollerslev and Hodrick (1992) state this problem could also be overcome by using the vector auto-regression method.The concept of the volatility tests is a comparison of the variability of prices with the variability of the future cash flows. The basic argument is that in an ideal world, future cash flows should determine the behaviour of prices today; therefore, as Shiller (1992) argues, any excess volatility is evidence of inefficient markets. …
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AbstractThe University Of ManchesterOmar MasoodMD Thesis 2013Cellular Mechanisms of L-arginine Induced Experimental Acute Pancreatitis. IntroductionImpairment of cytosolic calcium ([Ca2+]i) signaling and in particular calcium overload has... more
AbstractThe University Of ManchesterOmar MasoodMD Thesis 2013Cellular Mechanisms of L-arginine Induced Experimental Acute Pancreatitis. IntroductionImpairment of cytosolic calcium ([Ca2+]i) signaling and in particular calcium overload has emerged as a possible unifying mechanism for precipitating acute pancreatitis (AP.)In the L-arginine (L-arg) experimental model of AP, nitric oxide (NO) has been implicated however the disease progression is largely unaffected by nitric oxide synthase (NOS) inhibitors (8). Additionally, L-ornithine (L-orn), a NOS-independent metabolite of L-arg, has been shown to be potent at inducing AP (28). Both L-arg and L-orn activate calcium-sensing like receptors (CaSR) (31) such as the GPRC6a which may be responsible for initiating the [Ca2+]i overload.The aim of this study is to investigate the effects of L-arg and L-orn on pancreatic acinar cells that maybe linked to the pathophysiology of AP. Furthermore to provide an alternative theory to the NO mediate...
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This paper aims to explore the behavior of major regulated commercial banks. The study is aimed to examine that how these banks adjust their leverage and regulatory ratios by applying a two-step GMM framework. The Utilization of asset... more
This paper aims to explore the behavior of major regulated commercial banks. The study is aimed to examine that how these banks adjust their leverage and regulatory ratios by applying a two-step GMM framework. The Utilization of asset growth facilitates well-capitalized banks to restore their intended capital ratio and under-capitalized banks use equity and earnings to achieve equilibrium. Findings showed that large commercial banks adjust their legislative capital ratio faster than leverage. The differential effect suggested that well-capitalized banks required less time to manage equilibrium than those of adequately capitalized banks. The Under-capitalized banks took more time than those of adequately capitalized banks to reach their targeted capital level. The findings also indicated that banks in the post-crisis setting adjusted their leverage level more rapidly than the pre-crisis period. The risk-based capital ratio is lower than in the pre-crisis era. Findings were obtained from the samples of different U.S. banks covering the period from 2002 to 2018. The results of this study have economic relevance for policy implications and future regulations.
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This study investigates the impact of various resources, specifically both tangible and intangible ones, together with capabilities of Malaysian listed firms, on their performance. This empirical study attempts to enrich the understanding... more
This study investigates the impact of various resources, specifically both tangible and intangible ones, together with capabilities of Malaysian listed firms, on their performance. This empirical study attempts to enrich the understanding of the resources-performance relationship, which is one of a business process within the firm, as well as filling the gaps in present knowledge. Firms, which are not able to develop and sustain their performance, are associated with the vulnerability and adverse performance result, especially during various periods of economic crisis (three sub-periods of major shocks, i.e., The Volcker Shock (Commodities Shock) of early 1980s, Asian Financial Crisis of the late 1990s, and the Global Financial Meltdown of 2008). Hence, this research intends to explore which resources matter the most to firm profitability and its success. Drawing upon the combination of Donabedian’s structure process outcome and resource-based theories of the firm a conceptual frame...
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The tenacity of this paper is to understand the concept of ‘relative efficiency’ as an alternative measure to assess bank performance, and to investigate the progressive performance of foreign and domestic banks in Pakistan. A very steady... more
The tenacity of this paper is to understand the concept of ‘relative efficiency’ as an alternative measure to assess bank performance, and to investigate the progressive performance of foreign and domestic banks in Pakistan. A very steady growth is observed in assets of foreign banks in Pakistan although Pakistani banking sector has very limited contribution of foreign banks but its historic contribution is much accountable towards economic growth. The significance of this study is that we have conducted the study in Pakistan which was not explored earlier. A research design is the structure for investigation and way of finding out the answer of research question (Huizinga, 1999). We have conducted this research under the umbrella of Quantitative paradigm. Our preferred methodology is CAMELS. This system was developed by ACCION (Americans for Community Co-operation in Other Nations) in 1980’s to help regulator banks of North America (hUallachain, 1994). CAMELS methodology adopted by...
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Although it was designed to improve and stabilize the financial system worldwide, especially in developing and emerging countries, the implementation of Basel III has involved a number of challenges and obstacles. Pakistan, with its... more
Although it was designed to improve and stabilize the financial system worldwide, especially in developing and emerging countries, the implementation of Basel III has involved a number of challenges and obstacles. Pakistan, with its recent economic expansion and lagging rate of Basel III implementation, is among the countries that have confronted such impediments. In this paper, our empirical analysis is based on a survey of risk managers. Its goal to improve capital standards and its scientific treatment of risk ensures that Basel III is well regarded, specifically in the Islamic banking sector of Pakistan. The hindrance to its implementation is operational risk; this problem has only been partially addressed. The publicly owned banks are considered less proficient than the privately owned banks.
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The purpose of this study is to examine the impact of sovereign credit rating changes on financial markets using database of two countries (Greece, Ireland) in the European union over the period March, 2008-Dec, 2015. By analyzing the... more
The purpose of this study is to examine the impact of sovereign credit rating changes on financial markets using database of two countries (Greece, Ireland) in the European union over the period March, 2008-Dec, 2015. By analyzing the influence of sovereign credit rating on bond market yield We also examine the correlation between sovereign credit rating and bond market yield of each country during crisis period. Quarterly basis data of all variables is used in the research. By using regression analysis with Durbin Watson test and Pearson correlation for each country financial markets the findings indicated that sovereign credit rating has a significant impact on bond markets. Sovereign ratings are negatively correlated with Bond yield in both countries. The finding summarized that credit rating has a major influence on financial markets during crisis period.
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The efficient market hypothesis (EMH) has been around since 1962. It is a theory based on a simple rule, which states that the price of any asset must fully reflect all available information. Yet, there is empirical evidence suggesting... more
The efficient market hypothesis (EMH) has been around since 1962. It is a theory based on a simple rule, which states that the price of any asset must fully reflect all available information. Yet, there is empirical evidence suggesting that markets are too volatile to be efficient. In essence, this evidence suggests that the reaction of market participants to information or events is the crucial factor, rather than the information itself. This highlights the need to include behavioral finance theory in the pricing of assets. This paper aims to analyze the efficiency of the Greek, Italian, Portuguese and Spanish (ie, GIPS) sovereign debt markets during crises: in essence, the recent global financial and sovereign debt crises. We use a generalized autoregressive conditional heteroscedasticity (GARCH)-based variance bound test to test the null hypothesis of the market being too volatile to be efficient. In general, our EMH tests gave mixed results; this points to an acceptance of our n...
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ABSTRACTSince the 2007 market turmoil surrounding complex structured credit products, fair value accounting and its application through the business cycle has been a topic of considerable debate. As the illiquidity of certain products... more
ABSTRACTSince the 2007 market turmoil surrounding complex structured credit products, fair value accounting and its application through the business cycle has been a topic of considerable debate. As the illiquidity of certain products became more severe, financial institutions turned increasingly to model-based valuations that, despite increased disclosure requirements, were nevertheless accompanied by growing opacity in the classification of products across the fair value spectrum. In this study, we make an attempt to review an analysis regarding implications of the subprime crisis for accounting. These implications depend on the interplay among attributes of subprime mortgages and other positions, the evolution of market prices and illiquidity during the crisis, and the requirements of the applicable accounting standards, while credit losses on subprime positions are recorded under various standards. We focus on losses recorded based on the fair value measurement guidance provided...
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Introduction to The Problem : This study explains the concept of legal risk in marketing in e-commerce world as there is currently insufficient research studies on the concept despite its critical importance in influencing the behaviour... more
Introduction to The Problem : This study explains the concept of legal risk in marketing in e-commerce world as there is currently insufficient research studies on the concept despite its critical importance in influencing the behaviour of consumers. Purpose/Objective Study : The problem statement/purpose of study is to explain that what are the different barriers faced by financial managers during an uncertain and legal risky situation. Design/Methodology/Approach : The study utilizes both primary and secondary data from Gulf Cooperation Council (GCC) countries in order to get reliable results. There are different risk factors that affect the purchasing behaviour of consumers who shop online. The consumer’s perception of risk may be the result of all the emotional processes through which consumers recognize, organize and provide meaning to sensations received, such as the need for product quality, safety online and overall satisfaction. The primary data consists of a survey of onli...
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The purpose of this research study is to establish if there is systematic risk and if it has impact on profitability, liquidity of the banks in Europe. This study used various financial performance...
The pandemic has increased downside tail risks in advanced economies (AEs), while it has increased both downside and upside tail risks in emerging market economies (EMEs). The collapse in output and oil prices, on balance, increases... more
The pandemic has increased downside tail risks in advanced economies (AEs), while it has increased both downside and upside tail risks in emerging market economies (EMEs). The collapse in output and oil prices, on balance, increases downside inflation risks. Recent exchange rate depreciations increase upside risks to inflation in EMEs. Tighter financial conditions raise both downside and upside risks. In AEs, the increase in downside risks is more prominent.
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In this paper we explore the performance and efficiency of risk managers of Saudi Arabia, based on their relative traits and their effectiveness in meeting their personal performance targets. Here we present a complementary survey... more
In this paper we explore the performance and efficiency of risk managers of Saudi Arabia, based on their relative traits and their effectiveness in meeting their personal performance targets. Here we present a complementary survey evidence of 110 risk managers of Saudi Arabia, which can improve our understanding in this field. By the scope of this paper we study the capability of these managers in mitigating their previous losses and the factors which mainly affect their performance. We also study the importance given and the extent of Basel II implementation in Saudi Arabian banking sector.
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This paper addresses an important contemporary issue; namely the implementation of the Basel Accord worldwide. The Basel Accord provides a series of measures to improve the stability of the world’s financial system but its implementation... more
This paper addresses an important contemporary issue; namely the implementation of the Basel Accord worldwide. The Basel Accord provides a series of measures to improve the stability of the world’s financial system but its implementation poses a number of challenges for both developing and emerging economies. Pakistan faces a number of unique challenges in this regard due to its recent economic expansion and the fact that the rate at which the Basel Accord is being adopted lags behind that of other countries. This paper throws light on this and a number of related issues due to a combination of the novelty of the survey data from risk managers coupled with a rigorous statistical analysis. Results reflect that the Basel Accord is generally well regarded due to its underlying aims of improved capital standards and a scientific treatment of risk. However, operational risk emerges as a key barrier to implementation in Pakistan. A number of further obstacles are highlighted, which, do se...
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Ethics and ethical decision-making are not new concepts or ideas in banking and finance. Frankly speaking, in today’s business world, the prominence of ethical decision-making and corporate governance has expanded beyond the realm of... more
Ethics and ethical decision-making are not new concepts or ideas in banking and finance. Frankly speaking, in today’s business world, the prominence of ethical decision-making and corporate governance has expanded beyond the realm of academic world. This is evident via the extensive media coverage of corporate ethics crises such as well-known BCCI, Allfirst, Adelphia, Enron, Arthur Andersen, WorldCom and more recently Societe General among others resulting domestic and international regulations. Business ethics is considered critical for the reputation and competitive power of banks but banks are sometimes culpable of unethical behavior that costs to taxpayers billions such as the Imar Bank Inc. case in Turkey. This unethical behavior often takes the form of false financial statements to the creditors and misleading reports to the supervisory authorities. The main aim of this paper is to examine some of the causes of failure of the bank, the second, to scrutinize this unprecedented ...
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Background: Necrotizing enterocolitis is a life-threatening inflammation of neonatal intestine of multifactorial etiology. In early stages, medical management is considered; while as a transmural disease with pneumatosis or perforation... more
Background: Necrotizing enterocolitis is a life-threatening inflammation of neonatal intestine of multifactorial etiology. In early stages, medical management is considered; while as a transmural disease with pneumatosis or perforation needs surgical attention. Primary peritoneal drainage has evolved as an alternative to classic exploratory laparotomy especially in sick preterm and very low birth weight infants.Methods: In our study, we tried to employ primary peritoneal drainage as an initial intervention in all surgical necrotizing enterocolitis patients and analyzed the results and final outcome in terms of total days in neonatal intensive care unit, total parenteral nutrition days, days to start oral feeds, need for laparotomy, mortality and other complications.Results: Around one-third patients were either very low or extremely low birth weight and 80% patients were preterm. Primary peritoneal drainage was successful without need for laparotomy in around 65% of patients. In the...
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Background and Aims: Laparoscopic surgery is nowadays gold standard procedure undertaken for various surgical procedures and people prefer laparoscopic approach but the effective analgesic regimen for such patients has not been devised... more
Background and Aims: Laparoscopic surgery is nowadays gold standard procedure undertaken for various surgical procedures and people prefer laparoscopic approach but the effective analgesic regimen for such patients has not been devised and anaesthesiologists prefer multimodal regimes. Despite the minimally invasive nature of this procedure, patients experience a considerable amount of pain in the first 24 h postoperatively. In our study, we are comparing the degrees of pain relief with TAP block vs Trocar site infiltration using VAS, the duration of postoperative analgesia achieve by TAP block and compare it with Trocar site infiltration and total consumption of rescue analgesia consumed in first 24 hours postoperatively in patients undergoing gynaecologic Laparoscopic surgeries. Methods: After obtaining approval from the hospital Ethical committee and written informed consent from patients, this observational study was undertaken at the Government Lalla Ded Hospital which is o...