Emerald Group Publishing Limited
Article Type: Editorial From: Qualitative Research in Financial Markets, Volume 5, Issue 3
A warm welcome to the third issue of Qualitative Research in Financial Markets in 2013. This issue completes the first five years of journal production and it has become a genuine privilege for me to be in a position where I can see first-hand the growth and development of qualitative work in the finance field and I hope that the 60 + articles we have published over that period reflect this. I am delighted at this point to be able to say that, with the support of Emerald and the QRFM team we have established a Centre for Research in Qualitative Finance at the University of Dundee. These are early days for the centre, but the critical mass in the area that has developed recently certainly merits this development and I will be talking more about it, and its links to the journal, in future issues. As many of you may already know, we are delighted to be hosting Meir Statman at the first of the centre’s seminar series events, again supported by Emerald, in Dundee in September and other centre/journal-related events will follow. The centre’s web site is currently at an embryonic stage but it can be reached at www.dundee.ac.uk/business/cqrf/ or via the link on the QRFM webpage.
Turning to the contents of this issue, the first paper, “The optimal and decreasing growth rate of the Islamic banking industry” by Rifki Ismal and Rice Haryati continues the journal’s tradition of publishing up-to-date research in the area of Islamic finance. This study provides important findings regarding the future of the banking industry in Indonesia, in terms of both growth rates and institutional numbers, that are likely to be of significant interest to regulators and others. In “Learning form experience or learning for convenience”, the second paper in this issue, Duccio Martelli provides novel evidence of behavioural investment patterns by observing students’ actions in a financial transaction-based game that employs real money. The findings suggest that rather than performance improving over time, behaviour actually becomes more opportunistic and speculative as the end point nears.
The third study, “Regulation of remuneration policy in the financial sector – evaluation of recent reforms in Europe” by Jonathan Ben Shlomo, Wolfgang Eggert and Tristan Nguyen, provides a detailed analysis of the way in which European regulators have attempted to get to grips with the issue of pay and performance in the wake of the crisis. The article points to a need for the renewed focus on these matters to continue, but with a new impetus needed if reward systems are to become genuinely long-term oriented in the future. The final article here, “Italian banks’ equity-based incentive plans: what does the future hold?” by Stefano Dell’Atti, Stefania Sylos Labini and Saverio Morella continues the theme of remuneration/reward links by investigating the stock option provisions of leading Italian banks. The document-based investigation reveals major issues with current practices and “ample room for improvement”, with a lack of clear explanations of the basis for awards being a major problem.