SHAKEB AKHTAR
@woxsen.edu.in
ASSISTANT PROFESSOR/ SCHOOL OF BUSINESS
WOXSEN UNIVERSITY
EDUCATION
Ph.D. Commerce, Aligarh Muslim University, India.
Concentrations: Banking and Finance.
Topic of A Comparative Study of Performance Evaluation of Select Private and Foreign Banks in India.
Thesis Supervisor: Prof. Mohd. Mohsin Khan
Post Graduate Diploma in Islamic Banking and Finance (PGDIBF), Aligarh Muslim University, Aligarh, India in 2015 with 78.2% marks and Rank 1st in PGDIBF.
Master of Finance and Control (MFC), Aligarh Muslim University, Aligarh, India in 2014 with 76% marks and Rank 1st in MFC.
Bachelor of Commerce (B.Com), Aligarh Muslim University, Aligarh, India in 2012 with 69.5% marks.
Higher Secondary Education, Commerce, Indian School Certificate in 2009 with 83% marks.
Secondary Education, Science, Indian Certificate of Secondary Education in 2007 with 74.75% marks.
RESEARCH INTERESTS
Banking, Sustainability, Green Innovation, Panel Tabulation, Time Series Tabulation
Scopus Publications
Scholar Citations
Scholar h-index
Scholar i10-index
Scopus Publications
Syed Hasan Jafar, Shakeb Akhtar, and Satirenjit Kaur Johl
Productivity Press
Syed Hasan Jafar, Shakeb Akhtar, Hani El-Chaarani, Parvez Alam Khan, and Ruaa Binsaddig
MDPI AG
Predicting trends in the stock market is becoming complex and uncertain. In response, various artificial intelligence solutions have emerged. A significant solution for predicting the trends of a stock’s volatile and chaotic nature is drawn from deep learning. The present study’s objective is to compare and predict the closing price of the NIFTY 50 index through two significant deep learning methods—long short-term memory (LSTM) and backward elimination LSTM (BE-LSTM)—using 15 years’ worth of per day data obtained from Bloomberg. This study has considered the variables of date, high, open, low, close volume, as well as the 14-period relative strength index (RSI), to predict the closing price. The results of the comparative study show that backward elimination LSTM performs better than the LSTM model for predicting the NIFTY 50 index price for the next 30 days, with an accuracy of 95%. In conclusion, the proposed model has significantly improved the prediction of the NIFTY 50 index price.
Shujaat Naeem Azmi and Shakeb Akhtar
Springer Science and Business Media LLC
Shakeb Akhtar, Mahfooz Alam, Aslam Khan, and Mohd Shamshad
Springer Science and Business Media LLC
Mahfooz Alam, Shakeb Akhtar, and Mamdouh Abdulaziz Saleh Al-Faryan
Emerald
Purpose This paper aims to investigate the role of corporate governance on the bank profitability of Indian banks vis-à-vis South Asian Association for Regional Cooperation (SAARC) nations. Design/methodology/approach For the Corporate Governance Index, the authors examined board accountability, transparency and disclosure and audit committee, while Tobin’s Q, return on equity and return on assets are used to measure the bank’s profitability. The study used a two-stage analysis based on balanced panel data for robust findings. Sample of this study consists of 60 commercial banks from India and 60 banks from SAARC nations for the period of 2009–2021. This study used panel regression and a generalized method of moment approach using the CAMELS framework on banking industry-specific variables to determine their respective impacts. Findings The findings of this study suggest that board accountability is positive and significantly affects the profitability of banks as indicated by return on assets, return on equity and Tobin’s Q. In contrast, the audit committee has a positive and insignificant impact on return on assets, return on equity and Tobin’s Q, while transparency and disclosure have a negative and significant impact on these metrics. Furthermore, the country dummy result shows a significant positive impact on all the bank performance parameters, implying that Indian banks have the highest degree of convergence with corporate governance as compared to other SAARC nations. Research limitations/implications This study provides insight to the regulators, policymakers and financial institutions to evaluate the role of corporate governance in emerging economies. However, the findings of the study should be interpreted with caution, as the results are sensitive to the disparity between India and other SAARC nations' government policies, climatic circumstances and cultural or religious traditions. Originality/value To the best of the authors’ knowledge, this is the first attempt to gauge the performance of Indian banks vis-à-vis SAARC nations using the CAMELS framework approach. Further, findings of this study suggest some novel evidence tying corporate governance quality with the profitability of banks among SAARC nations.
Ahmad Ali Jan, Fong-Woon Lai, Mohammad Asif, Shakeb Akhtar, and Sami Ullah
Informa UK Limited
Shakeb Akhtar, Mahfooz Alam, and Mohd Shamim Ansari
Emerald
PurposeThis study aims to empirically evaluate the performance of commercial banks operating in India.Design/methodology/approachThe efficiency of the commercial banks is evaluated using the data envelopment analysis (DEA) approach. We measure the technical, pure technical and scale efficiency of the sampled conventional banks using the input-oriented model. We employed an extended DEA window analysis approach based on a panel sample of 47 banks in the Indian scenario. The period of study is from 2009 to 2018.FindingsThe results obtained from CRS and VRS measures envisage that Indian banks have failed to manage their inputs efficiently and convert them into outputs. It implies that Indian banks do not operate at an optimum level. Moreover, the results show that public banks exhibit superior efficiency scores followed by private and foreign banks. Apart from the aggregate sector level, we also investigate the performance of Indian banks at the individual level for in-depth analysis. The individual bank-level analysis reports that the public sector banks (PSBs) are the most efficient followed by foreign banks, whereas, the least efficient are the private banks.Research limitations/implicationsThe findings of our study have implications for government, financial institutions and policymakers to access the verve and flexibility of the Indian banking system. The government should consider restructuring inefficient banks to enhance overall performance. This can be considered by improvement in managerial efficiency, efficient allocation of scarce resources and appropriate scale of operation. However, the findings of the study should be interpreted in light of the period of study for the banks being operational (as we filter out banks that ceased to exist) in India and empirical methods employed. The results may vary if alternative measures are used.Originality/valueThe present paper investigates the efficiency of the Indian banking sector employing the Data Envelopment Window Analysis (DEWA) technique. To the best of our knowledge, the present study is perhaps the first one to employ the DEWA measure on the Indian banking industry to gauge their performance over time.
Abdul Wajid, Anjim Sabiha, Shakeb Akhtar, Mosab I. Tabash, and Linda Nalini Daniel
MDPI AG
Cross-border acquisitions by Indian companies have increased tremendously, especially during the last two decades, and the pharmaceutical industry is one of the top acquiring industries. This study verifies the relationship between cross-border acquisitions and shareholders’ wealth in the Indian pharmaceutical sector. For this purpose, the data related to acquisitions were acquired from 2005 to 2019 and the event study methodology was applied along with two parametric tests. The findings of the current research prescribe that cross-border acquisitions have a positive and significant impact on shareholders’ wealth. Furthermore, the outcomes also indicate higher positive abnormal returns in the short run when the targets are based in the US and the UK as compared to the positive but insignificant abnormal returns when the targets are based in locations other than the US and the UK.
Parvez Alam Khan, Satirenjit Kaur Johl, and Shakeb Akhtar
MDPI AG
The 2030 Agenda for Sustainable Development (SDGs) has been established to alter our world by addressing the challenges faced by humanity in order to promote wellbeing, economic prosperity, and the protection of the environment. The SDGs provide a holistic and multi-dimensional approach to development compared to conventional development plans that focus on a limited range of dimensions. As a result, linkages between the SDGs may result in differing outcomes. This research is the first to investigate the direct relationship of environmental and social SDGs with firms’ financial performance and the moderating role of green innovation. Data from 67 companies from five continents (Europe, Australia and New Zealand, Asia, North America, and Africa) and their top five blue-chip firms were collected through content analysis. Generalized least squares (GLS) were used to test for direct relationships. The results showed a positive correlation between environmental SDGs and the negative significance of social SDGs on firms’ financial performance. However, mixed findings regarding the moderation variable green innovation over SDGs and firms’ financial performance were found. The new findings extend the SDG literature and provide empirical evidence to practitioners and policymakers.
Parvez Alam Khan, Satirenjit Kaur Johl, Shakeb Akhtar, Mohammad Asif, Anas A. Salameh, and Thavamaran Kanesan
MDPI AG
The introduction of sustainable development goals has made sustainability a top priority for most nations. This has raised the investment into the educational system for potential growth and for creating an innovation culture in any country; the role of institutional investors in the development of financing clean energy infrastructure, entrepreneurial development, poverty reduction, and driving corporate social responsibility and firm development has been found significant. An intensive literature search of Scopus and the web of science database was explored with different relevant sets of keywords “Institutional investors AND Education”, “Institutional investors” AND “Higher education”, which drew 29 final articles between 2010–2021. This scoping review draws a new open approach for creating alternative sustainable funding for the higher education system and investment opportunities for institutional investors with government intervention. This research becomes the first that shows the road map to the higher education system in creating alternative funding through the proposed Institutional Investor & Sustainable University Funding Governance Code, which will make the higher education system independent and ease the burden on the government, as well as create a huge market opportunity for both players. This research model will scope the collaborative approach towards sustainable development goal 4—Quality education.
Parvez Alam Khan, Satirenjit Kaur Johl, and Shakeb Akhtar
MDPI AG
The current global economy demands synergy between ecological responsiveness and proactive business models. To analyze these dynamics, the objective of this study is to simultaneously investigate the effects of green innovation practices concerning the sustainable development goals (SDG) and financial performance of firms. This study also advocates for the injection of green innovation reporting into sustainable reporting for greater disclosure. Data from sixty-seven companies from five continents and the top five blue chip firms for each country are collected through content analysis, with the generalized least squares (GLS) approach used to test a causal relationship hypothesis. The results indicate mixed findings, with green product innovation showing positive relationships with returns on equity (ROE) and returns on investments (ROI). At the same time, green process innovation shows negative relationships with returns on assets (ROA) but shows a positive impact on returns on investments (ROI) and firm SDGs. In contrast, green service innovation shows an insignificant relationship with financial performance and SDGs. On the other hand, non-operational green innovation variables and green marketing positively affect returns on assets and investment, showing significant negative impacts on returns on equity. However, green organizational innovation shows an insignificant relationship with firm financial performance and SDGs. In addition, this study also shows that the Australia/New Zealand region is the leader in green innovation reporting, followed by Europe, Asia, Africa, and lastly, North America.
S. Akhtar, T. Khan and P. Khan
SynthesisHub Advance Scientific Research
The Indian commercial banking has witnessed various changes such as fraud cases, demonetization and sector sustainability during the study period year from 2009 Â 2018, The paper focuses on to analyze affecting key drivers of Indian commercial banks bottom line. A sample of 30 banks was included, and ROA, R.O.E. and NIM were adopted as proxy variables to estimate profitability. The balanced panel data regression model was applied to achieve the desired objective.
The research outcomes depict the liquidity and asset management positively impacted both ROA and R.O.E., whereas, G.D.P., operational efficiency and demonetization negatively impacted ROA and R.O.E. As per NIM is concerned, inflation rate, asset management, capital adequacy ratio and asset quality have a substantially positive impact, and significant negative impact variables are G.D.P., deposit and operational efficiency.
The implication aspect is that banks should focus on liquidity and deposits for proper utilization and better performance. When a bank has more credits than debit, it depicts higher yield assets which produce more profitability. This results in an adverse relation between banks profitability and liquidity, which is required in our study. For improving the profitability policymakers and regulators should consider macroeconomic factors.