Purpose: The purpose of this paper is to examine the influence of religiosity, gender and Islamic educational background of Muslims on zakat compliance. It also aims to identify which dimensions of religiosity are significantly related to zakat compliance. Design/methodology/approach: The study uses a self-administered questionnaire that was distributed to working Muslims individuals in Klang Valley, Malaysia. Analysis of the data was based on 690 usable questionnaires. Findings: The findings show that religiosity had a significant influence on zakat compliance and three dimensions of religiosity, namely obligation, virtues and vices, and optional ritual, were significantly related to zakat compliance. Gender was also significantly related to zakat compliance, but in a negative direction, suggesting that Muslim working females are less compliant to zakat obligations compared to their male counterparts. It is found that formal Islamic educational background had no significant influence on zakat compliance. Practical implications: Given the importance of zakat collection to the growth of the economy and society, the findings of this paper might provide some insights to Muslim-majority countries and zakat institutions which areas require more attention to encourage zakat payment among Muslims. Originality/value: Compared to prior zakat studies, the findings of this study were derived from a larger sample size of Muslim working respondents. Furthermore, this study also identifies which dimensions of religiosity are significantly related to zakat compliance. Hence this study enriches the scarce literature on zakat and religiosity.

Purpose: The purpose of this paper is to examine the effect of International Financial Reporting Standards (IFRS) and the moderating role of national economic culture on investors’ herding practices in the European Union (EU) equity markets.Design/methodology/approach: The study employs and modify two extensively applied herding measures of cross-sectional standard deviation and cross-sectional absolute deviation, using stock return dispersion as a function of aggregate market return as a proxy for herding behavior. The sample period stretches from January 1, 2001 until December 31, 2015.Findings: The study finds that mandatory IFRS adoption significantly promotes investors’ herding practice in the EU equity markets. However, taking a further look, the results suggest that the new reporting regime seems not to be the only instigator for the observed herding practice; national economic culture, particularly individualism and masculinity, contribute significantly toward investors’ herd-formation around the mandatory IFRS adoption. Overall, it can be concluded that the notion that the adoption of IFRS improves information-based trading and mitigates irrational investment behavior might totally be inaccurate in some instances. For example, in the case of herding bias, the new reporting regime appears to have promoted the phenomenon.Research limitations/implications: The study employs an approach of herd detection, which explores evidence of herding toward the market consensus. Thus, the results do not in any way exclude the possibility that other types of herding behavior exist in the EU equity markets. Notwithstanding this caveat, the findings of this study would be of special relevance to academics, regulators and policymakers in performing a cost-benefit analysis of the IFRS adoption.Originality/value: To the researchers’ knowledge, this study is first to explore the nexus between IFRS and investors’ herding practices, while highlighting the role of the national economic culture.

This study addresses a critical gap in the literature by examining the mediating role of patient capital in the relationship between Environmental, Social, and Governance (ESG) performance and New Quality Productivity (NQP) among Chinese enterprises, a strategic priority of national economic policy. Using data from 5,323 Chinese listed companies between 2015 and 2023, the analysis reveals that ESG performance is positively associated with NQP. More specifically, patient capital serves as a key mediator that connects ESG performance and NQP. The analysis reveals a dual mediation mechanism: strategic equity enhances the ESG–NQP link, while relational debt unexpectedly weakens it, offering new insights into the complex pathways through which ESG influences NQP. Heterogeneity analysis shows that Non-State-Owned enterprises (Non-SOEs) and Specialized, Refined, Distinctive, and Innovative (SRDI) firms exhibit greater NQP gains from ESG adoption, indicating the need for tailored sustainability policies for these enterprise types. This study advances understanding of how patient capital conditions the ESG–NQP nexus, offering novel insights into the financial foundations of sustainable innovation in China.

This book provides an interdisciplinary critical perspective regarding risk, uncertainty and governance challenges of cryptocurrencies. It considers the perspectives of several disciplines including accounting, cybersecurity, cyberlaw, economics, ethics, finance, financial regulation, Shariah (Islamic) law and technology. Different from other books on a similar topic, this book's in-depth analysis and critical discourse on cryptocurrency risk categories are supplemented by research evidence gathered from surveys and interviews with stakeholders. The inclusion of an Islamic insight matters given mixed views at present regarding the permissibility of cryptocurrencies and some countries have indeed imposed somewhat restricted functions of cryptocurrencies for non-religious reasons. It is envisaged that this book will help enlighten stakeholders on this aspect of uncertainty and inspire fit and proper governance strategies for the public interest.