Purpose This study aims to examine the relationship between board diversity and quality of corporate social responsibility (QCSR) disclosure. Design/methodology/approach The study estimates seven dimensions of board diversity including age, gender, nation, ethnicity, educational level, educational background and tenure by applying Blau’s index. The relationship between board diversity and QCSR disclosure from the perspective of the resource-based view theory is estimated by using panel random effects regression across 57 firms producing exclusive sustainability reports listed in the Pakistan Stock Exchange from 2010 to 2017. The robustness of the results has also been checked through alternative measurements of the variables under study. Findings The regression results reveal that gender and national diversities are the firms’ valuable resources, having the potential to promote QCSR disclosure. However, age diversity was found to be negatively associated to QCSR disclosure. Furthermore, educational level, educational background, ethnicity and tenure were insignificant on QCSR disclosure. The sensitivity analysis supports the findings of the baseline model. Research limitations/implications Pakistani firms need to improve the level of board diversity through encouragement of the inclusion of diverse forces of gender and nationality to enhance disclosure on CSR practices. Originality/value This is the first study on board diversity and QCSR in the case of Pakistan.

The study proposed that the effect of board diversity on quality of corporate social responsibility (QCSR) disclosure in Pakistan should be patterned differently from existing literature of other nations. The study has focused seven different dimensions of board diversity such as age, gender, nationality, ethnicity, educational level, educational background, and tenure across 86 firms listed in Pakistan Stock Exchange from 2010 to 2017. The results of panel regression supported resource-based view theory and indicated that gender, nation, and tenure diversity are resources improving QCSR disclosure. However, educational background has a negative impact on QCSR disclosure. Further analysis across alternative measurement and estimation techniques produces robust results. The results revealed that there is no universal law of CSR supportive board diversity, due to the unique characteristic of various institutional contexts. This study suggests policy makers to focus on gender,nation, tenure and relevant educational background diversity while setting board diversity framework in Pakistan. KEYWORDS board diversity, Pakistan, quality of CSR disclosure, RBV theory

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Purpose This study aims to evaluate cognitive, personal and environmental factors affecting investors’ behavioral intentions (BI) to invest in ṣukūk (Islamic investment certificates) in Pakistan. Design/methodology/approach Data from 462 participants were collected through survey-questionnaires by using the convenient sampling technique. Hypothesized proposed relationships among the constructs were examined by applying the structural equation modeling (SEM) technique through smart partial least squares. Findings Compatibility, internal influence, external influence and intrinsic motivation were found to be significant predictors of investors’ BI to invest in ṣukūk. In addition, it was found that the religious aspect not only affects investors’ BI positively but also works as a moderator in the relationships between BI and both internal and external influence. Practical implications The results are quite helpful for ṣukūk issuers and regulators to consider cognitive, personal and environmental factors that might enhance the adoption of ṣukūk, especially among Muslim investors. Originality/value This study is among the few research studies that shed light on investors’ BI to invest in ṣukūk. Using social cognitive theory, the study investigates the cognitive, personal and environmental factors influencing ṣukūk adoption, which were previously unexplored. In addition, this is the first study that unveils the influential factors of ṣukūk adoption in Pakistan, a Muslim-majority country.

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PurposeThe aim of the study is to examine the impact of financial inclusion on poverty, income inequality and financial stability using panel data of 54 African countries.Design/methodology/approachTo achieve this objective, the current study used multiple regressions across an unbalanced panel data of 54 African countries which are based on the four years mean value for the period 2001–2019.FindingsThe results show that financial inclusion (FI) is a valuable indicator; it reduces poverty, income inequality and improves financial stability.Research limitations/implicationsThe study invokes the attention of government and policymakers to build up a financially inclusive system which, in turn, leads to improve financial stability and lower poverty and income inequality. They should focus on quality and sustainable financial products and services in terms of financial inclusion to avoid dominant accounts and ensure consumer protection.Originality/valueThis adds to the scarce literature on the impact of financial inclusion on poverty, income inequality and financial stability in the context of African countries. The study contributes to the literature on the issue of financial inclusion and poverty, income inequality and financial stability by reconfirming (or otherwise) findings of previous studies.

Purpose -This study aims to examine the influence of board diversity on the quality of CSR disclosure (QCSR) and propose that this relationship is patterned differently in different contexts and nations, due to their distinctive characteristics.Design/methodology/approach -The resource-based view (RBV) theory is used to evaluate the hypothesized relationship through an empirical investigation of 64 Pakistani financial firms, by applying a random-effects regression and the generalized method of moments (GMM).] Findings -The findings indicate that age, gender, educational level, and educational background diversities positively influence QCSR disclosure. However, nationality, ethnic, and tenure diversities have no significant relationship with QCSR disclosure. The results were further checked by a robust regression and sensitivity analysis.Originality/value -Using RBV theory, this paper provides an additional contribution concerning the role played by board diversity in a firm's strategic performance, particularly CSR disclosure. The article contributes to the literature by finding that there is no unanimous rule for board diversity supporting CSR, due to the unique characteristics of different jurisdictions and institutional contexts.