This study attempts to examine the impact of service quality on customer loyalty and customer satisfaction using the SERVQUAL model for four main Islamic banks in the Sultanate of Oman. This is a quantitative nature of a study, which involved a structured, self-administered questionnaire based on a convenience sampling method gathering data from 120 customers of Islamic banks in Oman. The study data were analyzed using SPSS, and the reliability coefficient (Cronbach’s alpha) was established. The correlation analysis examined the significant relationships among the study variables. The impact of service quality dimensions on customer satisfaction was captured through regression analysis. The key findings of the study revealed that the respondents showed on average an “Agree” response in the five areas, namely, tangibles, responsiveness, reliability, assurance, and empathy. The correlation results depicted a significant relationship between the three variables: service quality, customer satisfaction, and customer loyalty. Similarly, regression results demonstrated that empathy and responsiveness dimensions have a significant positive impact on customer satisfaction. It is, therefore, recommended that banks should focus more on empathy and responsiveness considering the significant relationship of these two variables on customer satisfaction. However, banks should not neglect the importance of other variables such as reliability, assurance, and tangibles that are revealed as important by responses of the participants for the bank’s provisions.
This study uses a structural model to analyze the co-determinants of capital structure and stock returns. Applying a generalized method of moments (GMM) model to a panel dataset for 100 nonfinancial firms for the period 2006– 10, our results indicate that both leverage and stock returns affect each other but that the former has a dominant effect on the latter. The results illustrate that profitability, growth, and liquidity are significant determinants of leverage and stock returns. Profitability negatively affects leverage and positively affects stock returns. Growth has a positive effect, while liquidity has a negative effect on leverage and stock returns. Firm size does not have any significant effect on either capital structure or stock returns.
This empirical study examines the effects of terms-of-trade (TOT) volatility on inflation in Pakistan, using annual data for the period 1972 to 2012. The results show that TOT volatility has a significant negative effect on inflation in Pakistan. This result is robust to alternative equation specifications and TOT volatility measures. Output growth has a negative effect on inflation while foreign export prices have a positive effect on inflation. Both the depreciation of the nominal exchange rate and money supply increase the inflation rate. The fiscal deficit and world oil prices are also found to increase domestic inflation.
The primary purpose of this study is to examine the relationship, with respect to the Pakistani economy, between exchange rates and external debt by utilizing quarterly data from the 1983:Q1 to 2008:Q4 period. Short-run and long-run nominal and real effective exchange rates and their respective equilibrium rates have been assembled. The long run equilibrium exchange rate has been determined by employing the natural real exchange rate (NATREX) model suggested by Stein et al. (1990). We applied the Johanson (1988) cointegration test to examine the long run cointegration relationships among exchange rates and the relevant exogenous variables in the Natrex model. After computing the deviation of exchange rate from its long run, the autoregressive distributive lag model (ARDL) was applied to examine the role of external debt in the fluctuation of exchange rate. The results suggest that there is a long-run cointegration relationship among the relevant variables in the Natrex model and there is a long run cointegration relationship between the exchange rate and external debt variables. We also checked the stability of the functions and performed diagnostic tests. Most of the tests suggested that the functions adopted for the analysis are appropriate and stable over time. Moreover, the obtained results are robust and in according to the predictions of the model.
The paper empirically examines the effects of banking deregulations on overall and youth unemployment rates in South Asian countries using panel data for the period 1991 to 2005. The results show that banking deregulations have decreased the youth unemployment rate in the region. The results also reveal that high consumption level, per capita income and bank credit have reduced the unemployment rate, while bank crisis and high wage rate have increased the unemployment rate in the region. The results suggest that banking liberalization may help to reduce unemployment particularly youth unemployment in South Asian countries. JEL Classifications: C23, E24, G21
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