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Most of the prior literature focused on the scope, dimensions, importance, and business case of Corporate Sustainability (CS). A few studies also addressed the successful adoption or implementation of CS. Therefore, this study, by following the sequential process of stakeholder theory, adopts a holistic approach to inquire the impact of integrated management system (IMS) on CS and Firm Financial Performance (FFP). Besides investigating the link between CS and FFP, the study also theorizes the unique mediation of CS in the bonding between IMS and FFP. By employing ordinary least squares (OLS) and two-stage least squares (2SLS) to data collected through content analysis from a sample of 23 top companies listed in the real estate and construction industry on Bursa Malaysia from 2011 to 2016, it is revealed that IMS is a significant positive predictor of CS and all of its dimensions. Also, the study found the novel mediation of CS in the relationship between IMS and FFP (share market price). Besides contributing to the literature, the study also offers many empirical insights for the industry, regulatory bodies, and other stakeholders of developing countries, especially Malaysia.
Haseeb Ur Rahman; Muhammad Zahid; Ali Muhammad. Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective. Environment, Development and Sustainability 2021, 1 -25.
AMA StyleHaseeb Ur Rahman, Muhammad Zahid, Ali Muhammad. Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective. Environment, Development and Sustainability. 2021; ():1-25.
Chicago/Turabian StyleHaseeb Ur Rahman; Muhammad Zahid; Ali Muhammad. 2021. "Connecting integrated management system with corporate sustainability and firm performance: from the Malaysian real estate and construction industry perspective." Environment, Development and Sustainability , no. : 1-25.
This study aimed to investigate the impact of some important Sustainable Development Goals (SDGs), such as the decent workplace, climate change, and economic sustainability on firm financial performance (see Goals 8 and 13). By adopting an index from the previous literature, this study collected data from the annual and sustainability reports of the publicly listed companies of a developing country through content analysis from 2016 to 2018. The results revealed a significant increase in the level of compliance with workplace and environmental sustainability during the corresponding period. Furthermore, the estimations of ordinary least squares (OLS) and two-stage least squares (2SLS) panel data also unveiled a positive impact of workplace sustainability on the firm’s environmental and financial performance. Additionally, we noted that the findings were pronounced after addressing the problem of endogeneity. Moreover, the study also found a novel significant and positive mediating role of environmental sustainability in the relationship between workplace sustainability and the firm’s financial performance. This study has theoretical significance by proposing sustainability training and development as instrumental variables in the relationship of the workplace and environmental sustainability to firm financial performance. This study offers practical implications for regulatory bodies and business firms to integrate workplace and environmental sustainability practices into their routine operations for achieving sustainable industrialization.
Muhammad Zahid; José Martins; Haseeb Rahman; Mário Mata; Syed Shah; Pedro Mata. The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy. Sustainability 2021, 13, 4570 .
AMA StyleMuhammad Zahid, José Martins, Haseeb Rahman, Mário Mata, Syed Shah, Pedro Mata. The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy. Sustainability. 2021; 13 (8):4570.
Chicago/Turabian StyleMuhammad Zahid; José Martins; Haseeb Rahman; Mário Mata; Syed Shah; Pedro Mata. 2021. "The Interconnection between Decent Workplace and Firm Financial Performance through the Mediation of Environmental Sustainability: Lessons from an Emerging Economy." Sustainability 13, no. 8: 4570.
This study aims to determine the impact of environmental sustainability (ES) on firm financial performance (FFP). The study also examines the mediation of ES in the relationship between integrated management strategies (IMS) and FFP. By employing the content analysis technique for global reporting initiative (GRI) framework, the study collected desired data from the sustainability, corporate social responsibility, and annual reports of the sample firms (1,275 firm‐year observations) listed on the Pakistan stock exchange (PSX) from 2012 to 2016. The study employed a t‐test, ordinary least square, and generalized least square estimator with the fixed effect and random effect for estimating the hypothesized relationships. The results revealed that the ES and IMS have a significant positive impact on the FFP (ROA & Tobin's Q). Also, it is observed that ES mediates the relationship between IMS and Tobin's Q. Furthermore, it also noted that the results are more striking after addressing endogeneity. Besides using the unique ES index, the study also contributes to the literature and practice by updating the developing countries' key stakeholders, especially Pakistan.
Musa Khan; Haseeb Ur Rahman; Qadar Bakhsh Baloch; Adnan Ahmad; Muhammad Zahid. Is there any difference between the theory and practice for the association between environmental sustainability and firm performance in Pakistan? BUSINESS STRATEGY & DEVELOPMENT 2021, 1 .
AMA StyleMusa Khan, Haseeb Ur Rahman, Qadar Bakhsh Baloch, Adnan Ahmad, Muhammad Zahid. Is there any difference between the theory and practice for the association between environmental sustainability and firm performance in Pakistan? BUSINESS STRATEGY & DEVELOPMENT. 2021; ():1.
Chicago/Turabian StyleMusa Khan; Haseeb Ur Rahman; Qadar Bakhsh Baloch; Adnan Ahmad; Muhammad Zahid. 2021. "Is there any difference between the theory and practice for the association between environmental sustainability and firm performance in Pakistan?" BUSINESS STRATEGY & DEVELOPMENT , no. : 1.
The substantial focus on achieving corporate sustainability has necessitated the implementation of green human resource management (GHRM) practices. The purpose of this paper is to reveal the industries’ perspective of the impact of GHRM practices (i.e., green recruitment and selection, green pay and rewards, and green employee involvement and green training) on corporate sustainability practices. Data were collected from 200 human resource professionals in major industrial sectors of a developing country. Partial least squares structural equation modelling was used to test the study hypotheses and multigroup analysis (MGA) between industrial sectors. The findings show a positive impact of three GHRM practices, i.e., green recruitment and selection, green pay and rewards, and green employee involvement on corporate sustainability. However, green training has no significant association with corporate sustainability, which is interesting. Furthermore, the multigroup analysis (MGA) revealed partial and significant differences among different sectors. The results provide more contextualized social, environmental, and economic implications to academics and practitioners interested in green initiatives. To date, limited research has been conducted to investigate whether GHRM practices can be an effective strategy in increasing corporate sustainability in a developing country context. Particularly, the industry’s perspective on the subject matter was rather absent in the existing literature. The present study fills this gap and contributes to the existing literature by providing the industry’s perspective on GHRM and corporate sustainability.
Tauseef Jamal; Muhammad Zahid; José Martins; Mário Mata; Haseeb Rahman; Pedro Mata. Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives. Sustainability 2021, 13, 3045 .
AMA StyleTauseef Jamal, Muhammad Zahid, José Martins, Mário Mata, Haseeb Rahman, Pedro Mata. Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives. Sustainability. 2021; 13 (6):3045.
Chicago/Turabian StyleTauseef Jamal; Muhammad Zahid; José Martins; Mário Mata; Haseeb Rahman; Pedro Mata. 2021. "Perceived Green Human Resource Management Practices and Corporate Sustainability: Multigroup Analysis and Major Industries Perspectives." Sustainability 13, no. 6: 3045.
Most of the prior literature that investigated the nexus between corporate sustainability disclosures (CSD) and firm financial performance (FFP) has largely been ignored the potential problem of endogeneity. The omitted variable(s), measurement error, and reverse causality, which are the known causes of endogeneity, may also be the possible reasons for the indecisive and inconsistent relationship between CSD and FFP. Accordingly, this study reinvestigates the relationship by addressing the problem of endogeneity through applying the two‐stage least squares (2SLS) estimator to data collected from the annual reports of the top 10 Pakistani banks through content analysis from 2013 to 2017. The results show a positive impact of the CSD and social sustainability on FFP. However, environmental sustainability exerted a negative impact on FFP. The statistics for 2SLS are much different than those of the ordinary least squares (OLS), which explain the importance of addressing the endogeneity bias. The study offers a methodological procedure that identifies and addresses the endogeneity through a step‐by‐step process in Stata 13.0. Besides, the study also has a novelty to propose and validate additional instrumental variables for the research in the future. Overall, the study has many contributions and implications for different stakeholders such as academia, regulatory bodies, and practitioners in the field of corporate sustainability.
Muhammad Zahid; Haseeb Ur Rahman; Musa Khan; Wajahat Ali; Fazaila Shad. Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts. Business Strategy and the Environment 2020, 29, 3086 -3103.
AMA StyleMuhammad Zahid, Haseeb Ur Rahman, Musa Khan, Wajahat Ali, Fazaila Shad. Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts. Business Strategy and the Environment. 2020; 29 (8):3086-3103.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rahman; Musa Khan; Wajahat Ali; Fazaila Shad. 2020. "Addressing endogeneity by proposing novel instrumental variables in the nexus of sustainability reporting and firm financial performance: A step‐by‐step procedure for non‐experts." Business Strategy and the Environment 29, no. 8: 3086-3103.
This study aims to investigate the impact of corporate social responsibility disclosures (CSRD) on the financial performance of the Islamic banking industry of Pakistan. The study employed the method of content analysis for collecting the required data from annual reports of all four full-fledged Islamic banks operating in Pakistan from 2012 to 2017. The study developed a novel comprehensive CSRD index by using the “Global Reporting Initiative” (GRI) and “Accounting and Auditing Organization of Islamic Financial Institutions” (AAOIFI). This index consists of five dimensions and 105 sub-dimensions of CSRD. The use of Ordinary Least Squares (OLS), Panel Corrected Standard Errors (PCSEs), and Generalized Least Squares (GLS) using random-effect (RE) and fixed-effect (FE) estimators revealed a significant negative relationship between CSRD and the financial performance of the sample firms. Regarding separate dimensions, the relationship of the Environmental and Economic dimensions of CSRD is significantly positive with current performance, but it is insignificant for the relationships of Legal, Philanthropic, and Ethical dimensions of CSRD with the current financial performance. In addition to contributing to the scarce literature in the Islamic banking industry of a developing country like Pakistan, the study will also help the policymakers and other stakeholders, including the AAOIFI, to develop a comprehensive CSRD policy or index and further improve the already established standards for CSRD.
Zia Ur Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Asif; Majed Alharthi; Muhammad Irfan; Adam Glowacz. Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan. Sustainability 2020, 12, 3302 .
AMA StyleZia Ur Rehman, Muhammad Zahid, Haseeb Ur Rehman, Muhammad Asif, Majed Alharthi, Muhammad Irfan, Adam Glowacz. Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan. Sustainability. 2020; 12 (8):3302.
Chicago/Turabian StyleZia Ur Rehman; Muhammad Zahid; Haseeb Ur Rehman; Muhammad Asif; Majed Alharthi; Muhammad Irfan; Adam Glowacz. 2020. "Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan." Sustainability 12, no. 8: 3302.
Psychosocial hazards present in workplaces are being actively investigated by researchers from multiple domains. More research and resources are required to investigate the debilitating consequences of these hazards in the developing and underdeveloped countries where this issue remains one of grave concern. This study aims at investigating the psychometric properties of Malaysian version of Copenhagen Psychosocial Questionnaire for reliability and validity purpose. The Malaysian version of COPSOQ is a multidimensional questionnaire; it comprises of 7 major formative constructs and 28 variables with an additional inclusion of two variables which are organizational loyalty and physiological health biomarkers (blood pressure and body mass index) that explicate a reflective construct which has 93 items all catering to assess psychosocial determinants present in workplace environments. Each formative second-order construct is further categorized into different reflective first-order constructs. The focus of this study was only on first-order reflective constructs. Probability sampling was used for data collection from 300 respondents working in industries with a response rate of 100%; structural equation modeling technique was applied for data analysis. All psychometric analysis performed on reflective constructs gave reliable results which demonstrate the validity of Bahasa Melayu (BM-COPSOQ) and its comprehensiveness of including relevant dimensions particularly in context to Asian region. The BM-COPSOQ will fill up the knowledge gap and provide a bridge between researchers, work professionals and practitioners, and many other workplaces for the best understanding of psychosocial work environment.
Ahmad Shahrul Nizam Isha; Muhammad Umair Javaid; Amir Zaib Abbasi; Sobia Bano; Muhammad Zahid; Mumtaz Ali Memon; Umair Rehman; Matthias Nübling; Asrar Ahmed Sabir; Saif Ur Rehman; Nazish Imtiaz. Malay Validation of Copenhagen Psychosocial Work Environment Questionnaire in Context of Second Generation Statistical Techniques. BioMed Research International 2020, 2020, 1 -11.
AMA StyleAhmad Shahrul Nizam Isha, Muhammad Umair Javaid, Amir Zaib Abbasi, Sobia Bano, Muhammad Zahid, Mumtaz Ali Memon, Umair Rehman, Matthias Nübling, Asrar Ahmed Sabir, Saif Ur Rehman, Nazish Imtiaz. Malay Validation of Copenhagen Psychosocial Work Environment Questionnaire in Context of Second Generation Statistical Techniques. BioMed Research International. 2020; 2020 ():1-11.
Chicago/Turabian StyleAhmad Shahrul Nizam Isha; Muhammad Umair Javaid; Amir Zaib Abbasi; Sobia Bano; Muhammad Zahid; Mumtaz Ali Memon; Umair Rehman; Matthias Nübling; Asrar Ahmed Sabir; Saif Ur Rehman; Nazish Imtiaz. 2020. "Malay Validation of Copenhagen Psychosocial Work Environment Questionnaire in Context of Second Generation Statistical Techniques." BioMed Research International 2020, no. : 1-11.
The current study is an effort to investigate the relationship between technological innovation, structural changes, and carbon dioxide emission (CO2) along with the energy use and economic growth in the context of environmental Kuznets curve (EKC) over a period from 1985 to 2016. The study adopted the Zivot Andrews unit root test to check for the level of stationarity of the study variables. Based on the stationarity level, the study adopted autoregressive distributed lag (ARDL) approach to cointegration to investigate the presence of long- and short-run associations, simultaneously. To confirm the outcome of the ARDL bounds test in the presence of structural breaks, the study further applied the Gregory Hansen test of cointegration. The results reveal that industry value added in Malaysia has no significant impact on CO2 emissions. The results further posit that improvement in technology can lead to a cleaner environment. Regardless of improvements in technology and insignificant pressure of industrial activities towards environment, the results are not in the favour of the EKC hypothesis neither under the conventional turning point formula nor under the new turning point formula. The results reveal that long-run CO2 emission is bidirectionally related to energy use, structural changes, and technological innovation. The short-run results indicate bidirectional causalities between energy consumption, structural change, and CO2 emissions. The study suggests that the government should overhaul the structure of the energy in Malaysia to overcome both the losses in the production process and to reduce carbon emissions by inspiring the induction of environment-friendly and efficient technologies in the production process and a shift towards more services sector economy. The outcomes of the study are according to the theory of ecological modernization.
Wajahat Ali; Inam Ur Rahman; Muhammad Zahid; Muhammad Anees Khan; Tafazal Kumail. Do technology and structural changes favour environment in Malaysia: an ARDL-based evidence for environmental Kuznets curve. Environment, Development and Sustainability 2019, 22, 7927 -7950.
AMA StyleWajahat Ali, Inam Ur Rahman, Muhammad Zahid, Muhammad Anees Khan, Tafazal Kumail. Do technology and structural changes favour environment in Malaysia: an ARDL-based evidence for environmental Kuznets curve. Environment, Development and Sustainability. 2019; 22 (8):7927-7950.
Chicago/Turabian StyleWajahat Ali; Inam Ur Rahman; Muhammad Zahid; Muhammad Anees Khan; Tafazal Kumail. 2019. "Do technology and structural changes favour environment in Malaysia: an ARDL-based evidence for environmental Kuznets curve." Environment, Development and Sustainability 22, no. 8: 7927-7950.
This study aims to examine the impact of boardroom gender diversity, Malaysian Code on Corporate Governance (MCCG, 2012), and firms’ specific characteristics such as age, size, and profitability, on corporate sustainability disclosures (CSD) in Malaysia. The study applied Ordinary Least Square (OLS) to a stratified random sample composed of 878 public listed companies. These companies were selected in 11 sectors of the Malaysian economy for three years i.e. 2011 to 2013. The selection of time period has a rationale that Malaysia is mostly focused on improving both the corporate sustainability and representation of women directors on the board during this time. The results indicate that women directors have an imperative role in improving CSD as evident by their significant positive association with workplace and social, environmental, and economic dimensions of corporate sustainability. In addition, the comparison of findings in pre and post contexts of MCCG 2012, it is noted that the association between boardroom gender diversity and CSD has pronounced after enactment of the code. The findings are important, particularly in connection with a fast-growing and emerging economy like Malaysia. The findings have important insights for various stakeholders i.e. government, regulatory bodies, practitioners, academia, industry, and researchers.
Muhammad Zahid; Haseeb Ur Rahman; Wajahat Ali; Musa Khan; Majed Alharthi; Muhammad Imran Qureshi; Amin Jan. Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia. Journal of Cleaner Production 2019, 244, 118683 .
AMA StyleMuhammad Zahid, Haseeb Ur Rahman, Wajahat Ali, Musa Khan, Majed Alharthi, Muhammad Imran Qureshi, Amin Jan. Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia. Journal of Cleaner Production. 2019; 244 ():118683.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rahman; Wajahat Ali; Musa Khan; Majed Alharthi; Muhammad Imran Qureshi; Amin Jan. 2019. "Boardroom gender diversity: Implications for corporate sustainability disclosures in Malaysia." Journal of Cleaner Production 244, no. : 118683.
The current study investigates the impact of government initiatives, integrated strategies and some key internal factors on corporate sustainability practices (CSP) in Malaysian public listed companies (PLCs). Ordinary Least Squares (OLS) employed to a pooled data composed of 878 firm-year observations of 12 sectors of Malaysian PLCs from 2011 to 2013. The results indicated a significant improvement in CSP of the Malaysian PLCs over the period of 2011–2013. Further, corporate sustainability-related awards, global reporting initiatives (GRI) framework, and organizational strategy were proved to be the drivers of CSP. Additionally, firm profitability, size, and age have also found as significant characteristics of CSP. Unexpectedly, both Malaysian code on corporate governance (MCCG) 2012 and top management commitment do not influence CSP. The findings provide important insights for the various stakeholders of the country including government, regulatory bodies, practitioners, academia, researchers, banks, Bursa Malaysia, security commission and management of PLCs to make informed decisions about CSP.
Muhammad Zahid; Haseeb Ur Rehman; Saqib Muneer; Babar Zaheer Butt; Aliyu Isah-Chikaji; Mumtaz Ali Memon. Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production 2019, 241, 118329 .
AMA StyleMuhammad Zahid, Haseeb Ur Rehman, Saqib Muneer, Babar Zaheer Butt, Aliyu Isah-Chikaji, Mumtaz Ali Memon. Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia. Journal of Cleaner Production. 2019; 241 ():118329.
Chicago/Turabian StyleMuhammad Zahid; Haseeb Ur Rehman; Saqib Muneer; Babar Zaheer Butt; Aliyu Isah-Chikaji; Mumtaz Ali Memon. 2019. "Nexus between government initiatives, integrated strategies, internal factors and corporate sustainability practices in Malaysia." Journal of Cleaner Production 241, no. : 118329.