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- ItemOpen AccessTime-Varying Volatility Dynamics of Dhaka Stock Exchange (DSE) Using GARCH-Type Models(North South University, 2016-06) Ahmend Ameya Prapan; Paromita Rakhi; Adnan Gazi; Mohammad Mahboob RahmanOur study in this paper examines the changes in volatility dynamics of Bangladesh stock market, due to stock market crash back in 2010 using Generalized Autoregressive Conditional Heteroscedasticity (GARCH) models. Both symmetric and asymmetric GARCH models were used to estimate the conditional volatility in daily returns of the main stock exchange of Bangladesh namely as the Dhaka Stock Exchange (DSE). Using the closing values of DSE General (DGEN) and DSE broad (DSEX) indices, we conduct our analysis by keeping the crash period of 2010 in focus and dividing the data series into three sub-periods namely as crash, pre-crash and post-crash periods. The data series exhibit evidences of skewness, kurtosis and deviations from normality as expected from Finance literature. The unit root test concludes that the data series is not stationary at level but become stationary when we take returns of the series into consideration. The conditional variance is found to be highly persistent with leverage and asymmetric effects. Our results also indicate that asymmetric GARCH models are better fitted to model volatility dynamics than the symmetric GARCH model for all sub-periods. Lastly, the comparison among various model parameters in different sub-periods in our study also exhibit significant change in volatility patterns of DSE from pre-crash to post-crash period as indicated by ARCH, GARCH, Leverage and Power coefficients.
- ItemOpen AccessKeeping Your Friends Close and Your Enemies Closer:Investigating Firm Incentives to Participate in Strategic CoCSR(North South University, 2016-06) Mohammad Mahboob Rahman; Narmin Tartila Banu; Parisa Shakur; Mohammad Mahboob RahmanWe investigate firm incentives for engaging in collaborative corporate social responsibility (CoCSR) tasks. Our investigation continues in the vein of earlier theoretical research that established the branding role of strategic CSR. We first consider the case of strategic partners collaborating on CSR tasks. We demonstrate that CoCSR will not always be sustainable as it will be subject to free-riding. We then consider the case of competing firms collaborating on CSR tasks. We demonstrate that firms will be more likely to engage in CoCSR with their closest competitors than with indirect competitors or even firms selling complementary goods
- ItemOpen AccessStructuring Tourists’ Intention on Local Food Purchase: Testing Mediating Effect of Satisfaction(North South University, 2016-06) Muhammad Sabbir Rahman; Mehdi Hussain; Md. Aftab Anwar; Mohammad Mahboob RahmanThis study aims to examine the factors influencing the tourists’ purchase intention of local food by testing the mediating effect of satisfaction. The research employed a self-administered questionnaire of 250 foreign tourists from the major cities in Malaysia. The resulting data were analysed with confirmatory factor analysis (CFA) and structural equation modeling (SEM) techniques. The result of the data analysis revealed that the mediation effect of tourists' satisfaction plays a partial mediation role in between service quality and purchase intention of the local foods. Interestingly, all the direct relationships were also accepted. The results from this study can be used for looking in-depth nature of service quality, customer satisfaction and their purchase intention under the perspective on food tourism. Thus, the findings of this research may assist the ministry of tourism, higher education scholar and professional bodies to understand in details about the issues of service quality and customer satisfaction under the context of tourists’ purchase intention of local foods.
- ItemOpen AccessFactors influencing positive work environment: a study on female workers of rmg sector in bangladesh(North South University, 2016-06) Kazi Nazmul Huda; Mohammad Mahboob RahmanPositive Work Environment (PWE) is a momentous issue for all kinds of organizations to ensure a quality workplace that adds essential value to the manufacturing organizations such as Ready Made Garments (RMG). The primary purpose of this study is to explore the determining factors of PWE and their role in ensuring a supportive workplace for the female workers in RMG factories. The current study is based on primary data collected through structured questionnaire from 100 female workers working in RMG factories outside Chittagong Export Processing Zone, Bangladesh. Results found five significant factors namely Effective Work System Factor, Job Security Factor, Emotional Support factor, Workplace learning factor, and Work life balance factor that are able to explain 80.81% of variation to understand the concepts of positive work environment. The study also identified two variables namely Counseling and Grievance Management, which are the most influencing variables in ensuring PWE. The study also offered few managerial implications of applying and ensuring PWE in RMG sector to contribute more to national income
- ItemOpen AccessIn Light of the New Code Does Corporate Governance Impact Performance of Bangladeshi Firms?(North South University, 2016-06) Mabel D’Costa; Kamrul Huda Talukdar; Adnan Habib; Mohammad Mahboob RahmanThis paper primarily addresses the gap in existing literature and strives to find a causal relationship between good governance and firm performance after the implementation of the new code in 2012 in Bangladesh market. The purpose of this study is to find out if firm performance, both accounting-based and market-based, is affected by the corporate governance factors in Bangladeshi public limited companies. Ordinary Least Square regression was applied to 106 companies listed in the Dhaka Stock Exchange (DSE) with Price/Earnings ratio, Return on Asset, and Return on Equity as the dependent performance variables and Board Size, Board Composition, Audit Committee Size, Composition and Grade as the independent governance variables. It was found out that good governance does not have any effect on the market performance of the companies. While for accounting-based performance the audit committee size and composition has significant impact on companies other than banks and non-bank financial institutions (NBFIs). Performances of banks and NBFIs had no significant impact due to governance variables