This thesis investigates the relationship between economic growth and financial development in developing countries over 1988-2001. Previous studies have generally used averaged data, for both developing and developed countries, and inappropriate estimation methods. In an attempt to reach some definitive conclusions, Generalised Method of Moments dynamic estimation is used with a newly collected panel of annual data to assess the relationship. The results show that while banks performance has a negative impact on growth, stock markets positively promote growth. To reach an overall conclusion about the impact of finance on growth and to solve the problems associated with the existence of multicollinearity among the different measures of financial development, principal components analysis is used to generate new, comprehensive measures of financial development. In assessing the link between the new measures and financial development and growth, the results support the existence of an overall positive relationship. The thesis also examines the behaviour of interest rates in developing and industrialised countries using individual and panel unit root tests. The results are sensitive to the choice of the test, country and time unit.

Stock markets, banks and economic growth

Abstract There is a growing acknowledgement that micro-credit programs have potential for equitable and sustainable development. However, my anthropological research on the micro-credit program of the Grameen Bank shows that bank workers are expected to increase disbursement of loans among their members and press for high recovery rates to earn profit necessary for economic viability of the institution. To ensure timely repayment in the loan centers bank workers and borrowing peers inflict an intense pressure on women clients. In the study community many borrowers maintain their regular payment schedules through a process of loan recycling that considerably increases the debt-liability on the individual households, increases tension and frustration among household members, produces new forms of dominance over women and increases violence in society.

Micro-credit initiatives for equitable and sustainable development : who pays?; a case study of the Grameen Bank Program in rural Bangladesh

A central and contentious debate in many literatures concerns the relationship between financial and social performance. We advance this debate by measuring the financial-social performance link within mutual funds that practice socially responsible investing (SRI). SRI fund managers have an array of social screening strategies from which to choose. Prior studies have not addressed this heterogeneity within SRI funds. Combining modern portfolio and stakeholder theories, we hypothesize that the financial loss borne by an SRI fund due to poor diversification is offset as social screening intensifies because better managed and more stable firms are selected into its portfolio. We find support for this hypothesis through an empirical test on a panel of 61 SRI funds from 1972-2000. The results show that as the number of social screens used by an SRI fund increases, financial returns decline at first, but then rebound as the number of screens reaches a maximum. That is, we find a curvilinear relationship, suggesting that two long-competing viewpoints may be complementary. Furthermore, we find that financial performance varies with the types of social screens used. Community relations screening increased financial performance, but environmental and labor relations screening decreased financial performance. Based on our results, we suggest that literatures addressing the link between financial and social performance move toward in-depth examination of the merits of different social screening strategies, and away from the continuing debate on the financial merits of either being socially responsible or not.

Beyond dichotomy: the curvilinear relationship between social responsibility and financial performance

After 10 years in sales and product marketing with Steelcase, a challenge to become involved in a startup company led me away from Steelcase. After years of selling Steelcase products, being involved in new product development, seeing Steelcase trucks on the road, and feeling proud to be part of Steelcase, I was now on the outside. A few years into the new business, I had the opportunity to build a new facility. We outfitted the building with Steelcase 9000 and wood offices suites from Stow & Davis. It was a great day to see a Steelcase truck back into my truck well. Today I still use the same furniture from 15 years ago and it still looks great!

From Employee to Customer

This article aims to consolidate the psychological microfoundations of corporate social responsibility (CSR) by taking stock and evaluating the recent surge of person-focused CSR research. With a systematic review, the authors identify, synthesize, and organize three streams of micro-CSR studies—focused on (i) individual drivers of CSR engagement, (ii) individual processes of CSR evaluations, and (iii) individual reactions to CSR initiatives—into a coherent behavioral framework. This review highlights significant gaps, methodological issues, and imbalances in the treatment of the three components in prior micro-CSR research. It uncovers the need to conceptualize how multiple drivers of CSR interact and how the plurality of mechanisms and boundary conditions that can explain individual reactions to CSR might be integrated theoretically. By organizing micro-CSR studies into a coherent framework, this review also reveals the lack of connections within and between substreams of micro-CSR research; to tackle them, this article proposes an agenda for further research, focused on six key challenges

The psychological microfoundations of corporate social responsibility: A person-centric systematic review

Electronic distribution channels provide alternatives for faster delivery of banking services to a wider range of customers. E-channels have gained increasing popularity and have attracted the attention of both academics and practitioners. This paper aims to collect bank employees’ perceptions of the potential benefits and risks associated with electronic banking in Pakistan. The outcomes may help the management of banks develop effective strategic planning for the future of electronic banking in developing countries like Pakistan. Primary sources were used to collect the data and were analyzed via frequency analysis

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Bankers Perceptions of Electronic Banking in Pakistan

The purpose of this paper is to extend the scant literature on the effect of abusive supervision on knowledge sharing by examining the roles of Islamic work ethic and learning goal orientation in moderating the effect.,This paper utilizes a cross-lagged survey research design to collect data from 735 employees working in the services and manufacturing sectors of Pakistan.,The data analysis revealed that abusive supervision has a damaging effect on knowledge sharing in the workplace. However, employee learning goal orientation and the Islamic work ethic help in mitigating this detrimental effect.,The main theoretical implication is to advance knowledge on the boundary conditions that help in mitigating the undesirable effect of abusive supervision on sharing of knowledge in organizational settings.,This paper provides practical insights into mitigating the damaging effects of abusive supervision, a prevalent issue in Asian societies, through the lenses of Islamic business ethics and learning goal orientation.,This is the first study that examines the boundary conditions placed by the Islamic work ethic and learning goal orientation around the relationship between abusive supervision and knowledge sharing in the context of Pakistan.

Abusive supervision and knowledge sharing: moderating roles of Islamic work ethic and learning goal orientation

This paper aims to investigate the influence of supervisor's ethical leadership style on subordinates' green or pro-environmental work behavior in the presence of green human resource management (GHRM) as a mediator and environmental knowledge as a moderator.,A questionnaire-based was distributed to 427 supervisor–subordinate dyads working in various Pakistani organizations. Structural equation modeling was used to determine the mechanisms and boundary conditions in the relationship between supervisor's ethical leadership style and subordinates' green behavior.,Structural equation modeling supported a partial mediating role of GHRM in the influence of ethical leadership on green work behavior. Further, the findings revealed that employee's environmental knowledge can magnify the indirect impact of ethical leadership, via GHRM, on green behavior.,Cross-sectional survey data are typically associated with common method bias. To counter this bias, we collected data from dual sources, namely, supervisors and their subordinates. The research findings have implications in deepening the understanding of the impact of ethical leadership in improving environmental performance of the organization.,This is the first study that utilizes multi-sourced data to examine the mediating role of GHRM and the moderating role of environmental knowledge in the relationship between ethical leadership and green behavior at work.

Promoting green behavior through ethical leadership: a model of green human resource management and environmental knowledge

The Quran prohibits interest and encourages trade and charity as alternates. This article seeks guidance from the verses of the Quran and develops a theoretical model of charity-based Islamic microfinance institutions (MFIs), which can be used as an alternative approach to reduce poverty. The article argues that charity-based Islamic MFIs will be financially and socially sustainable as these are to be based on the concepts of brotherhood, local philanthropy, and volunteer services. Charity-based Islamic MFIs will provide money for consumption as well as production purposes and, thus, can broadly target the economic and social needs of the poorest of the poor. They can help minimize indebtedness and reduce unequal distribution of wealth in society.

The Quran and Poverty Alleviation: A Theoretical Model for Charity-Based Islamic Microfinance Institutions (MFIs)

The purpose of this paper is to advance knowledge on the implications of perceived corporate social responsibility (CSR) on employee levels of commitment and citizenship behaviour (OCB) by investigating a trust-based mediational process in the context of academia.,The research data are collected from a sample of 736 academics through a questionnaire based survey administered in different Pakistani universities. The nature of trust-based mechanism underlying the relationships between CSR, affective commitment and OCB is determined through structural equation modelling of the research data.,The findings suggest that the perceived CSR is an important predictor of academics’ attitudes and behaviour in universities. Whilst the findings implicate the mediating role of trust in the process by which perceived CSR influences academics’ commitment, trust does not appear to mediate the perceived CSR’s relationship with OCB.,This study utilises single-sourced and cross-sectional data, which may have resulted in common method bias.,By furnishing evidence of the beneficial effects of perceived CSR on academics’ levels of trust, commitment and citizenship behaviour, this study provides a business case for universities’ involvement in CSR. The findings are particularly useful to academic administrators and managers who are interested in nurturing positive attitudes and behaviours amongst academic staff.,There is a paucity of research on CSR in the academic work settings of developing countries. This is the first study to examine the trust-based microfoundation of CSR in the context of academia in Pakistan.

Ahmad Kaleem

Papers

Bankers Perceptions of Electronic Banking in Pakistan

Abusive supervision and knowledge sharing: moderating roles of Islamic work ethic and learning goal orientation

Promoting green behavior through ethical leadership: a model of green human resource management and environmental knowledge

The Quran and Poverty Alleviation: A Theoretical Model for Charity-Based Islamic Microfinance Institutions (MFIs)

The nexus of corporate social responsibility (CSR), affective commitment and organisational citizenship behaviour in academia: A model of trust