PurposeThe purpose of this paper is to investigate whether higher disclosure levels at both Islamic and conventional banks are associated with higher stock price volatility in the member countries of the Gulf Cooperation Council (GCC).Design/methodology/approachTo do this, the authors build a disclosure index (DI) for both types of banks and compare their transparency levels. After that, the authors evaluate the relationship between disclosure and stock price volatility for both conventional and Islamic banks (IBs) and include macro- and bank-level control factors to isolate the effect of disclosure from potentially confounding influences by employing panel data.FindingsThe author find that the significance of the DI on stock price volatility is economically negligible at both types of banks, suggesting that injecting more information into markets would raise stock price volatility only slightly and hence will not have much economically significant effect on stock price volatility in our sample countries. The authors discuss the policy implications of the findings.Originality/valueThe study fills the gap in the literature and assists in formulating appropriate regulation policies for corporate governance disclosure requirements. To the best of our knowledge, this is the first empirical study to investigate the impact of disclosure on reducing stock price volatility in the dual banking system of the GCC countries.

Purpose Causality between corporate financial performance (CFP) and corporate social performance (CSP) has been extensively debated in previous research works; however, little research has been done to investigate the long-run dynamics between these two constructs. The purpose of this paper is to enrich the CFP–CSP literature by estimating the long-run equilibrium relationship between financial performance and social performance in the banking sector in the Gulf Cooperation Council countries over the period 2009–2019. Design/methodology/approach The paper adopts an approach that is primarily used in financial economics: first, the authors perform panel long-run Granger causality following Canning and Pedroni’s procedure to indicate the direction of the causal relationship. Second, the authors estimate an error correction model using Chudik and Pesaran’s (2015) dynamic common correlated effects mean group estimator to determine the sign of the relationship. Findings The present research findings prove the existence of a long-run equilibrium relationship between CFP and CSP, while indicating at the same time that panel Granger causality runs positively from CSP to CFP, which means that changes in CSP produce lasting changes in CFP. Practical implications The findings of the paper would guide strategists to build fit for purpose corporate social responsibility (CSR) strategies in their firms and establish a continuous investment in CSR activities in the long run rather than harshly investing in CSR activities in the short run. Originality/value To the best of the authors’ knowledge, this paper is the first one to address heterogeneity in long-run Granger causality tests to estimate the relationship between CSP and CFP.

Awqaf play important role in advancing the economy and prospering the Islamic community in many places in the World. While the concept of Cash Waqf means a trust fund established in order for supporting services to human beings in the name of Allah in form of cash or liquidity. The objective of the paper is to analyze the roles of cash waqf in enhancing economic welfare in Turkey and study how this cash waqf can affect the economy positively. Applying qualitative methods this paper found that implementing efficient cash waqf will add a very important role in ensuring an equal distribution of wealth among people, decreasing the government liability, reducing the poverty levels, improving and strengthening the economy of Turkey. In addition, the waqf assets could be enhanced and developed in a more innovative and creative way which is the most significant and relevant in the current scenario.

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