Expounding the Structure of Slyer Ways of Tunneling in Pakistan
This study is aimed to expound the structure of slyer ways of tunneling in Pakistan. It also analyzes relationships among these factors. Design of study encompasses on review of contemporary literature, survey for collection of data, analysis, and modeling. Review of literature is used to prepare a list of ways of tunneling, ISM is affianced for modeling contextual relationships, and MICMAC for classification of factors. The results of the literature show that there are sixteen slyer ways of tunneling. The result of ISM reveals that there is an underlying structure having three levels. The third level is occupied by “purchasing un-necessary items” and “exchanging the assets at relatively lesser value” hence are the most critical factors. Findings of MICMAC affirm the result of ISM and pinpoint that the aforementioned factors have high driving power and are key factors. Tunneling is a sensitive topic of corporate governance and conducting research on this topic is worthwhile for all stakeholders.
-
Corporate governance, ISM, MICMAC, Pakistan, stakeholders, tunneling.
-
(1) Abdul Aziz Khan Niazi
Assistant Professor, Institute of Business and Management, University of Engineering and Technology, Lahore, Punjab, Pakistan.
(2) Tehmina Fiaz Qazi
Assistant Professor,Institute of Business and Management,University of Engineering and Technology, Lahore, Punjab, Pakistan.
(3) Abdul Basit
Academics Head,Business Administration, Lahore Institute of Science and Technology, Lahore, Punjab, Pakistan.
- Abdullah, M. R. T. L., & Siraj, S. (2014). Interpretive Structural Modeling of MLearning Curriculum Implementation Model of English Language Communication Skills for Undergraduates.Turkish Online Journal of Educational Technology-TOJET,13(1), 151-161
- Aharony, J., Wang, J., & Yuan, H. (2010). Tunneling as an incentive for earnings management during the IPO process inChina.Journal of Accounting and Public Policy,29(1), 1-26
- Alawamleh, M., & Popplewell, K. (2011). Interpretive structural modeling of risk sources in a virtual organisation.International Journal of Production Research,49(20), 6041-6063
- Arslan, M., & Zaman, R. (2014). Constraints and Barriers in Corporate Governance and Managerial Efficiency: A Comparative Analysis.Constraints, 4(18), 83-94.
- Atanassov, J., & Mandell, A. J. (2018). Corporate governance and dividend policy: Evidence of tunneling from master limited partnerships.Journal of Corporate Finance,53, 106-132
- Attri, R., Dev, N., & Sharma, V. (2013). Interpretive structural modelling (ISM) approach: An overview.Research Journal of Management Sciences,2319, 1171
- Avinash, A., Sasikumar, P.,& Murugesan, A. (2018). Understanding the interaction among the barriers of biodiesel production from waste cooking oil in India-an interpretive structural modeling approach.Renewable Energy,127, 678-684
- Boateng, A., & Huang, W. (2017). Multiple large shareholders, excess leverage and tunneling: Evidence from an emerging market.Corporate Governance: An International Review,25(1), 58-74
- Cai, Y., & Xia, C. (2018). Interpretive Structural Analysis of Interrelationships among the Elements of Characteristic Agriculture Development in Chinese Rural Poverty Alleviation.Sustainability,10(3), 786.
- Chen, W., Li, S., & Chen, C. X. (2017). How much control causes tunneling? Evidence from China.China journal of accounting research,10(3), 231-245.
- Chen, Y., Wang, Y., & Lin, L. (2014). Independent directors' board networks and controlling shareholders' tunneling behavior.China Journal of Accounting Research,7(2), 101-118.
- Cheung, Y.-L., Rau, P. R., Stouraitis, A. (2006). Tunneling, propping, and expropriation: Evidence from connected party transactions in Hong Kong. Journal of Financial Economics, 82(2), 343-386
- Chidambaranathan, S., Muralidharan, C., & Deshmukh, S. G. (2009). Analyzing the interaction of critical factors of supplier development using Interpretive Structural Modeling-an empirical study.The International Journal of Advanced Manufacturing Technology,43(11-12), 1081-1093
- Chiou, J. R., Chen, Y. R., & Huang,T. C. (2010). Assets expropriation via cash dividends? Free cash flow or tunneling.China Journal of Accounting Research,3, 71-93.
- Clayton, M. J. (1997). Delphi: a technique to harness expert opinion for critical decision-making tasks in education.Educational Psychology,17(4), 373-386.
- Dayanandan, R. (2013). Good governance practice for better performance of community organizations-myths and realities.Journal of Power, Politics & Governance,1(1), 10-26
- Du, J., & He, Q. (2013). Tunneling and the decision to go private: Evidence from Hong Kong.Pacific-Basin Finance Journal,22, 50-68
- El-Helaly, M. (2018). Related-party transactions: A review of the regulation, governance and auditing literature.Managerial Auditing Journal,33(8/9), 779-806
- Fooladi, M., & Farhadi, M. (2019). Corporate governance and detrimental related party transactions: Evidence from Malaysia.Asian Review of Accounting,27(2), 196-227
- Godet, M. (1986). Introduction to la prospective: Seven key ideas and one scenario method.futures,18(2), 134-157
- Hu, H. W., & Sun, P. (2019). What determines the severity of tunneling in China?Asia Pacific Journal of Management,36(1), 161-184
- Huang, W. (2019). Ownership, tax and intercorporate loans in China.International Journal of Accounting & Information Management,27(1), 111-129
- Hussain, S., & Safdar, N. (2018). Tunneling: Evidence fromFamily Business Groups of Pakistan.Business and Economic Review,10(2), 97-121
- Jiang, G., Rao, P., & Yue, H. (2015). Tunneling through non-operational fund occupancy: An investigation based on officially identified activities.Journal of Corporate Finance,32, 295-311
- Johnson, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2000). Tunneling. The American Economic Review, 90(2), 22-7
- Khan, S., & Khan, M. S. A. (2013). Conceptualized Model of Green It Purchasing Enablers-An Application of Delphi Technique and Interpretive Structural Modeling. Business Sciences International Research Journal, 1(1), 24-37
- Li, G. (2010). The pervasivenessand severity of tunneling by controlling shareholders in China.China Economic Review,21(2), 310-323
- Li, G., Huang, D., Sun, C., & Li, Y. (2019). Developing interpretive structural modeling based on factor analysis for the water-energy-food nexus conundrum.Science of The Total Environment,651, 309-322.
- Li, M., & Yang, J. (2014). Analysis of interrelationships between critical waste factors in office building retrofit projects using interpretive structural modelling.International Journal of Construction Management,14(1), 15-27
- López-Iturriaga, F. J., & MartÃÂn, D. J. S. (2019). The payout policy of politically connected firms: Tunnelling or reputation?The North American Journal of Economics and Finance,50, 101025.
- Lund-Thomsen, P. (2008). The global sourcing and codes of conduct debate: Five myths and five recommendations.Development and Change,39(6), 1005-1018
- Luo, J. H., Wan, D. F., & Cai, D. (2012). The private benefits of control in Chinese listed firms: Do cash flow rights always reducecontrolling shareholdersÂ’ tunneling?Asia Pacific Journal of Management,29(2), 499-518.
- Ma, L., Ma, S., & Tian, G. (2013). Political connections, founder-managers, and their impact on tunneling in China's listed firms.Pacific-Basin Finance Journal,24, 312-339
- Raeesi, R., Dastrang, M., Mohammadi, S., & Rasouli, E. (2013). Understanding the interactions among the barriers to entrepreneurship using interpretive structural modeling.International Journal of Business and Management,8(13), 56.
- Raj, T., Shankar, R., & Suhaib, M. (2008). An ISM approach for modelling the enablers of flexible manufacturing system: The case for India.International Journal of Production Research,46(24), 6883-6912
- Ranjbar, M. S., Azami, A., & Afraze, A. (2012). Analysis of interaction among effective factors on corporate entrepreneurship.Asia Pacific Journal of Innovation and Entrepreneurship,6, 9-31.
- Shen, L., Song, X., Wu, Y., Liao, S., & Zhang, X. (2016). Interpretive Structural Modeling based factor analysis on the implementation of Emission Trading System in the Chinese building sector.Journal of Cleaner Production,127, 214-227
- Sushil, A. (2017). Modified ISM/TISM Process with Simultaneous Transitivity Checks for Reduced Direct Pair Comparisons.Global Journal of Flexible Systems Management,18(4), 331-351
- Sushil, S. (2012). Interpreting the interpretive structural model.Global Journal of Flexible Systems Management,13(2), 87-106
- Tang, T. Y. (2016). Privatization, tunneling, and tax avoidance in Chinese SOEs.Asian Review of Accounting,24(3), 274-294.
- Tareq, M., Houqe, M. N., van Zijl, T., Taylor, D. W., & Morley, C. (2017). Discriminatory related party transactions: A new measure.International Journal of Accounting & Information Management,25(4), 395-412
- Thakkar, J., Kanda, A., & Deshmukh, S. G. (2008). Interpretive structural modeling (ISM) of IT-enablers for Indian manufacturing SMEs. Information Management & Computer Security, 16(2), 113-136.
- Trigunarsyah, B., & Parami Dewi, A. A. D. (2015, May). Using a design-build system: An interpretive structural model. InProceedings of the Institution of Civil Engineers-Municipal Engineer, 169(1), 3-12
- Vasanthakumar, C., Vinodh, S., & Ramesh, K. (2016). Application of interpretive structural modelling for analysis of factors influencing lean remanufacturing practices.International Journal of Production Research,54(24), 7439-7452.
- Wan, Y., & Wong, L. (2015). Ownership, related party transactions and performance in China.Accounting Research Journal,28(2), 143-159
- Warfield, J. N. (1973). Binary matrices in system modeling.IEEE Transactions on Systems, Man, and Cybernetics, 5, 441-449
- Warfield, J. N. (1974). Toward interpretation of complex structural models.IEEE Transactions on Systems, Man, and Cybernetics, 5, 405-417
- Xie, Y., Zheng, L., & Lau, H. A. (2012). Reporting incentives for accounting conservatism, evidence from asset and equity tunneling.Pacific Accounting Review
- Zhang, T., & Huang, J. (2013). The value of group affiliation: evidence from the 2008 financial crisis.International Journal of Managerial Finance,9(4), 332-350
- Zhang, X., Yang, X., Strange, R., & Zhang, Q. (2017). Informed trading by foreign institutional investors as a constraint on tunneling: Evidence from China.Corporate Governance: An International Review,25(4), 222-235
Cite this article
-
APA : Niazi, A. A. K., Qazi, T. F., & Basit, A. (2019). Expounding the Structure of Slyer Ways of Tunneling in Pakistan. Global Regional Review, IV(II), 329-343. https://doi.org/10.31703/grr.2019(IV-II).35
-
CHICAGO : Niazi, Abdul Aziz Khan, Tehmina Fiaz Qazi, and Abdul Basit. 2019. "Expounding the Structure of Slyer Ways of Tunneling in Pakistan." Global Regional Review, IV (II): 329-343 doi: 10.31703/grr.2019(IV-II).35
-
HARVARD : NIAZI, A. A. K., QAZI, T. F. & BASIT, A. 2019. Expounding the Structure of Slyer Ways of Tunneling in Pakistan. Global Regional Review, IV, 329-343.
-
MHRA : Niazi, Abdul Aziz Khan, Tehmina Fiaz Qazi, and Abdul Basit. 2019. "Expounding the Structure of Slyer Ways of Tunneling in Pakistan." Global Regional Review, IV: 329-343
-
MLA : Niazi, Abdul Aziz Khan, Tehmina Fiaz Qazi, and Abdul Basit. "Expounding the Structure of Slyer Ways of Tunneling in Pakistan." Global Regional Review, IV.II (2019): 329-343 Print.
-
OXFORD : Niazi, Abdul Aziz Khan, Qazi, Tehmina Fiaz, and Basit, Abdul (2019), "Expounding the Structure of Slyer Ways of Tunneling in Pakistan", Global Regional Review, IV (II), 329-343
-
TURABIAN : Niazi, Abdul Aziz Khan, Tehmina Fiaz Qazi, and Abdul Basit. "Expounding the Structure of Slyer Ways of Tunneling in Pakistan." Global Regional Review IV, no. II (2019): 329-343. https://doi.org/10.31703/grr.2019(IV-II).35