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1 – 10 of 651Wenbo Li, Bin Dan, Xumei Zhang, Yi Liu and Ronghua Sui
With the rapid development of the sharing economy in manufacturing industries, manufacturers and the equipment suppliers frequently share capacity through the third-party…
Abstract
Purpose
With the rapid development of the sharing economy in manufacturing industries, manufacturers and the equipment suppliers frequently share capacity through the third-party platform. This paper aims to study influences of manufacturers sharing capacity on the supplier and to analyze whether the supplier shares capacity as well as its influences.
Design/methodology/approach
This paper deals with conditions that the supplier and manufacturers share capacity through the third-party platform, and the third-party platform competes with the supplier in equipment sales. Considering the heterogeneity of the manufacturer's earning of unit capacity usage and the production efficiency of manufacturer's usage strategies, this paper constructs capacity sharing game models. Then, model equilibrium results under different sharing scenarios are compared.
Findings
The results show that when the production or maintenance cost is high, manufacturers sharing capacity simultaneously benefits the supplier, the third-party platform and manufacturers with high earnings of unit capacity usage. When both the rental efficiency and the production cost are low, or both the rental efficiency and the production cost are high, the supplier simultaneously sells equipment and shares capacity. The supplier only sells equipment in other cases. When both the rental efficiency and the production cost are low, the supplier’s sharing capacity realizes the win-win-win situation for the supplier, the third-party platform and manufacturers with moderate earnings of unit capacity usage.
Originality/value
This paper innovatively examines supplier's selling and sharing decisions considering manufacturers sharing capacity. It extends the research on capacity sharing and is important to supplier's operational decisions.
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This paper aims to find out the similarities and differences in meaning between the word “al amanah” and trust.
Abstract
Purpose
This paper aims to find out the similarities and differences in meaning between the word “al amanah” and trust.
Design/methodology/approach
As a qualitative research, a content analysis is used in three stages. First, to elaborate the exegesis of the related Qur’anic verses together with the background narration or asbab un-nuzul if any and the Prophetic hadith where the word amanah is and to analyse and conclude its meanings. Second, the word “trust” is analysed based on the discussions in the literature which will lead to its specific meanings. Third, the concluded meanings of amanah and trust are to be compared to find out their similarities and differences.
Findings
Amanah and trust have the similar meanings: safe, confident, ability to fulfil the expectation of the person who trust, having competence or expertise to perform duty, deliver commitments, keep promises, work with a full of responsibility, integrity or obedient to moral principles. Differences: Amanah is not only oriented to humanity and responsibility in human’s relations but also, more importantly, to God Allah the Almighty, obeying His commands to make it as ibadah or acts of worshipping Allah the Almighty for maslahah or welfare for society.
Practical implications
The findings are considered important for companies or organisations. Before doing a commercial transaction or entering a contract or hiring an employee, they must study the quality of the counterparty whether they are capable to do the job as expected or not. In addition, the findings indicate that Islamic teachings concerning muamalat or Islamic rules for social dealings is universal in nature.
Originality/value
Being the first time to compare the word al amanah to trust, the findings point out the important elements to be evaluated when assigning a certain duty to an agent.
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Md. Faruk Abdullah and Asmak Ab Rahman
– The study aims to consider wa’dan-based products in Islamic banks in Malaysia and discuss the validity of wa’dan in those products from the perspective of Shari’ah.
Abstract
Purpose
The study aims to consider wa’dan-based products in Islamic banks in Malaysia and discuss the validity of wa’dan in those products from the perspective of Shari’ah.
Design/methodology/approach
Case studies were conducted of three Islamic banks in Malaysia. Semi-structured interviews were carried out with bankers as well as Shari’ah scholars. The document analysis method was adopted to strengthen the findings.
Findings
The study shows that three Islamic banking products: Musyarakah Mutanaqisah (MM) home and property financing; Al-Ijarah Thumma Al-Bai’ (AITAB) vehicle financing; and Ijarah rental swap (IRS) use wa’dan in their product structures. After discussing the different views of the scholars, the study concludes that wa’dan should be allowed in the above-mentioned products because it is different from muwa’adah. In wa’dan, every single wa’d is separate from each other, as every one of them is related to different types of events. With regard to the issue of Shari’ah in MM home and property financing, it was concluded that wa’d from the customer to purchase the bank’s share is not a capital guarantee. Moreover, IRS is not a form of gambling but is in line with Maqasid al-Shari’ah.
Research limitations/implications
The study is limited to three Islamic banks in Malaysia that focus on retail and commercial banking products. Therefore, the study excludes application of wa’dan in sukuk and some other Islamic derivatives that are not the practice of these three banks.
Originality/value
This empirical study adds new knowledge by developing the concept and practice of wa’dan. Wa’dan as an innovative tool for product development to overcome Shari’ah issues in conventional banking may be of interest to practitioners all around the world.
Md. Faruk Abdullah and Asmak Ab Rahman
The objective of the chapter is to discuss the role of wa’d (promise) to mitigate risk in different Islamic banking products. The chapter will illustrate the element of wa’d in…
Abstract
Purpose
The objective of the chapter is to discuss the role of wa’d (promise) to mitigate risk in different Islamic banking products. The chapter will illustrate the element of wa’d in different Islamic banking products in Malaysia.
Methodology/approach
The study has adopted the document review method to get information on different banking products. Moreover, it conducted semi-structured interviews with bankers to get in-depth information.
Findings
The study finds out that wa’d plays a vital role in structuring several products including retail products, trade financing products, and treasury products. Along with the unilateral wa’d there is a usage of double wa’d (wa’dan) in some product structures. In most of the products, wa’d is included as a risk mitigation instrument along with other major underlying Shari’ah contracts. Some Shari’ah issues are involved with these products namely the Shari’ah rulings related to wa’dan, “form over substance,” etc.
Originality/value
This is an in-depth field study which adds new knowledge on wa’d-based products. The experience of Malaysia might be a lesson for other countries to minimize risk in their Islamic banking products.
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Hana Bin Mohd Zaini, Mohd Dona Bin Sintang, Yi Ning Dan, Noorakmar Ab Wahab, Mansoor Bin Abdul Hamid and Wolyna Pindi
The purpose of this paper is to determine the physicochemical and sensory properties of fish patties added with banana peel powder (BPP), Musa balbisiana.
Abstract
Purpose
The purpose of this paper is to determine the physicochemical and sensory properties of fish patties added with banana peel powder (BPP), Musa balbisiana.
Design/methodology/approach
Four different fish patty formulations were produced containing 0 per cent (BPP0) (Control), 2 per cent (BPP2), 4 per cent (BPP4) and 6 per cent (BPP6) of BPP (M. balbisiana).
Findings
The addition of BPP was shown to improve the hardness, cooking yield, water holding capacity (WHC) and redness (a* value) as well as the dietary fibre (DF) content (p<0.05). The BPP, however, also turned the fish patties darker (lower L*) (p<0.05). Sensory evaluation showed that fish patties with a concentration of 2 per cent BPP had the highest overall acceptability, whereas the concentration of 6 per cent BPP was found to be unacceptable compared to that of control sample (p<0.05). The declining sensory acceptability of fish patty with 6 per cent BPP is related to the harder texture and the darker color of the patties compared to the control sample (BPP0).
Originality/value
The addition of BPP can potentially improve the quality of fish patties in terms of textural properties (hardness) by increasing their WHC, reducing the cooking loss and enhancing the DF content.
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Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American…
Abstract
Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.
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David S. Gedde and Tantatape Brahmasrene
Describes the impact of recent changes in US tort law and identifies four interest groups concerned: manufacturers, insurance companies, consumers and lawyers. Discusses their…
Abstract
Describes the impact of recent changes in US tort law and identifies four interest groups concerned: manufacturers, insurance companies, consumers and lawyers. Discusses their relative strengths, motivations and influence on judicial decisions, citing relevant liability cases for product‐related injuries due to manufacturing defects, design defects and inadequate warnings. Develops a logistic regression model to relate state adoption of strict liability standards to the relative strength of interest groups and applies it to US data. Suggests that the strength of manufacturers and, more particularly, lawyers is significant; and that liberal states are more likely to adopt strict liability for design defects. Calls for further research on the role of the legal profession in legal change.
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To extract the secrets of the marketing of Dan Brown's world‐wide bestseller, The Da Vinci Code.
Abstract
Purpose
To extract the secrets of the marketing of Dan Brown's world‐wide bestseller, The Da Vinci Code.
Design/methodology/approach
Case study research based on secondary sources and close reading of relevant texts.
Findings
The staggering success of The Da Vinci Code is contrary to conventional marketing wisdom, but conventional wisdom is increasingly inappropriate intoday's entertainment economy.
Research limitations/implication
Case study research. Needs replication in additional domains. The accepted approaches to best marketing practice need re‐evaluation.
Originality/value
Approaches topic from unconventional direction. Tries to capture the spirit of Brown's writing.
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Outlines the ideas incorporated in “development economics” and criticizes the lack of distinction made by some writers between development and economic growth. Asks whether…
Abstract
Outlines the ideas incorporated in “development economics” and criticizes the lack of distinction made by some writers between development and economic growth. Asks whether underdeveloped countries really need a different economic theory from Western Europe and suggests that growth (in gross national product) and development (i.e. structural change) are actually complementary processes. Reviews various theories on the causes of underdevelopment (e.g. market failure, government failure) and strategies to cure it (e.g. government intervention, private initiative, market mechanism); and cites some examples of successful positive intervention.
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