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...

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....

Purpose -The purpose of this paper is to theoretically describe the role of Zakah as a vital tool of fiscal policy in achieving Pareto optimality. Design/methodology/approach - The paper sets a general equilibrium model that describes the long-run convergence to a Pareto optimal allocation in a...

Purpose -The main objective of this paper is to highlight the unprecedented growth of Islamic banking and finance in the contemporary finance world. It captures the advancements of Islamic banking and finance industry across the tools, systems, sectors, markets and over 75 countries from Africa,...

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...

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...

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...

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...

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...

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...