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Literature on the board diversity of Islamic banks (IB) found limited knowledge of the “deep-level” attribute. This study aims to explain the impact of the board diversity attributes (education levels, educational backgrounds and the interactions between these two attributes of diversity) on profitability.

The research sample is 37 fully flagged IBs from five Southeast Asian countries, covering nine years (2010–2019). Data were analyzed using the two-step system generalized moment (2SYS-GMM) method.

We found that the cognitive conflict between the board of directors (BOD) and the Shariah Supervisory Board (SSB), which has heterogeneity in its education level and educational background, positively affects profitability. These results reinforce the resources dependence theory (RDT) approach that having boards with heterogeneous characteristics is beneficial for IB.

The findings of this study would offer useful information for Islamic banking authorities to revise or formulate rules and guidelines and make a greater effort to implement corporate governance (CG) reform measures by determining educational level and background as a requirement to become a member of a BOD or an SSB.

This paper contributes in three ways: (1) we use the “deep-level” diversity attributes of the BOD and the SSB, (2) it focuses on cognitive conflict in boards by presenting the expertise diversity of the BOD and SSB and (3) we interact with the level of education to evaluate the effect of a cognitive conflict.

Enrolling in an academic discipline or selecting the college major choice is a dynamic process. Very few studies examine this aspect in India. This paper makes a humble attempt to fill this gap using NSSO 71st round data on social consumption on education. The purpose of this paper is to use multinomial regression model to study the different factors that influence course choice in higher education. The different factors (given the availability of information) considered relate to ability, gender, cost of higher education, socio-economic and geographical location. The results indicate that gender polarization is apparent between humanities and engineering. The predicated probabilities bring out the dichotomy between the choice of courses and levels of living expressed through consumption expenditures in terms of professional and non-professional courses. Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities.

The present paper follows the same approach as that of Turner and Bowen (1999). The Multinomial regression is specified as P ( M i = j ) = ( exp ( β j × X i ) / ∑ j − 1 5 exp ( β j × X i ) ) , where P (M_i=j) denotes the probability of choosing outcome j, the particular course/major choice that categorizes different disciplines. This response variable is specified with five categories: such as medicine, engineering, other professional courses, science and humanities. The authors’ primary interest is to determine the factors governing an individual’s decision to choose a particular subject field as compared to humanities. In other words, to make the system identifiable in the MLR, humanities is treated as a reference category. The vector X_i includes the set of explanatory variables and β_j refers to the corresponding coefficients for each of the outcome j. From an aggregate perspective, the distribution of course choices is an important input to the skill (technical skills) composition of future workforce. In that sense, except humanities, the rest of the courses are technical-intensive courses; hence, humanities is treated as a reference category.

The results indicate that gender polarization is apparent between humanities and engineering. The predicated probabilities bring out the dichotomy between the choice of courses and levels of living expressed through consumption expenditures in terms of professional and non-professional courses. Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities.

Predicted probabilities of course choices bring in a clear distinction between south and west regions preferring engineering and other professional courses, whereas north, east and NES prefer humanities. This course and regional imbalance need to be worked with multi-pronged strategies of providing both access to education and employment opportunities in other states. But the predicted probabilities of medicine and science remain similar across the board. Very few research studies on the determinants of field choice in higher education prevail in India. Research studies on returns to education by field or course choices hardly exist in India. These evidences are particularly important to know which course choices can support student loans, which can be the future area of work.

The research evidence is particularly important to know which course choices can support student loans, which can be the future area of work, as well as how to address the gender bias in the course choices.

The paper has social implications in terms of giving insights into the course choices of students. These findings bring in implications for practice in their ability to predict the demand for course choices and their share of demand, not only in the labor market but also across regions. India has 36 states/UTs and each state/UT has a huge population size and large geographical areas. The choice of course has state-specific influence because of nature of state economy, society, culture and inherent education systems. Further, within the states, rural and urban variation has also a serious influence on the choice of courses.

The present study is a value addition on three counts. First, the choice of courses includes the recent trends in the preference over market-oriented/technical courses such as medicine, engineering and other professional courses (chartered accountancy and similar courses, courses from Industrial Training Institute, recognized vocational training institute, etc.). The choice of market-oriented courses has been examined in relation to the choice of conventional subjects. Second, the socio-economic background of students plays a significant role in the choice of courses. Third, the present paper uses the latest data on Social Consumption on Education.

This article examines why Universal Primary Education (UPE) has shifted from being a developing country challenge more broadly in the last half of the 20th century to become largely a sub-Saharan Africa (SSA) challenge today. It discusses a number of national and education sector system-wide challenges that have constrained the implementation of UPE in SSA more so than in other developing regions.

This article reviews the literature and policy documents on a wide range of developing country issues, and discusses why most SSA countries have faced unparalleled challenges in achieving UPE.

SSA governments should take the opportunity offered by their post-pandemic “build back better” efforts to fundamentally reset education policies to address the key causes of this major development failure. The overarching objective must be to develop education systems that are more inclusive, equitable and responsive to national development needs by better serving the large population groups, parts of society and economic sectors that currently derive little benefit from public education spending. This article highlights the urgency and challenges associated with achieving this objective.

Although the main responsibility lies with SSA governments, this paper stresses that the global community will be affected in many ways by how effectively this crisis is addressed. Therefore, this effort merits sustained global support including through more catalytic use of aid.

The purpose of this research study is to explore and analyze the factors that will favour or constrain the introduction of an Islamic Retail bank in a Muslim-minority country such as Mauritius. This research attempts to fill the gap in the empirical literature on the setting up of an Islamic Retail bank in a Muslim-minority country. It recognizes upfront that Islamic banking offers an alternative banking system that is attractive to both Muslims and non-Muslims.

The research adopts a mixed approach to address the prospects and challenges of establishing an Islamic Retail bank in Mauritius.

The research finds that there are various prospects for an Islamic retail bank in Mauritius for Muslims and non-Muslims, including enabling legal, fiscal and regulatory framework, the financing of small- and medium-sized enterprises and the issuance of ṣukūk (Islamic investment certificates). The research also finds that the development of an Islamic retail bank in Mauritius face various challenges. Some of these challenges are lack of Sharīʿah-compliant liquidity instruments and inter-bank deposits, lack of knowledge and understanding of Sharīʿah-compliant products and the enforcement of Islamic contracts in court.

This in-depth study appears to be comprehensive and will help in developing a solid foundation for establishing an Islamic retail bank in Mauritius.

This study aims to explore the impact of board size, board gender diversity and federation age on the likelihood of having a female chair in National Sports Federations (NSF).

A quantitative methodology compares 300 sports boards in five countries (Italy, Portugal, Spain, Turkey and the UK), using data collected from NSF’s websites.

The board size and federation age have no significant impact on having a female board chair when the countries and the percentage of female directors are included in the model. When the number of women is measured in absolute value rather than in relative terms, the only variable that predicts a woman chair is the country. When the model does not include country differences, the percentage of female directors is key in predicting a chairwoman, and when the number of women is used as a variable instead of the percentage, a board’s smaller size increases the odds of having a chairwoman.

There are some limitations to this study which we believe provide useful directions for future research. Firstly, the authors have not considered the role of gender typing in sports activities which explains the extent that women participate in specific sports (Sobal and Milgrim, 2019) and the related perception of such sports in society. The social representation of sports activities classified as masculine, feminine or gender-neutral can hypothetically influence women’s access to that specific federations’s leadership. The authors included the country factor only partially, as a control variable, as the social representation of sports usually goes beyond national boundaries.

This study has implications for sport policymakers and stakeholders, and for institutions such as the IOC or the European Union that implement equality policies. If the aim is to increase female presence in the highest position of a sports board and to achieve gender equality more generally, other policies need to be implemented alongside gender quotas for the sports boards, namely, those specifically related to the recruitment and selection of the sports board chairs (Mikkonen et al., 2021). For example, given the implications of critical mass and its ability to increase more female’s engagement then the role of existing chairs acting as mentors and taking initiative in this objective may be warranted. Furthermore, attention should be paid to the existing gender portfolio of each board and its subsequent influence on recruiting a female chair, regardless of the organization’s age. Knoppers et al. (2021) concluded that resistance to gender balance by board members is often related to discriminatory discourses against women. The normalization of the discourses of meritocracy, neoliberalism, silence/passivity about the responsibility of structures and an artificial defence of diversity emphasise that equality should not only be determined by women (Knoppers et al., 2021).

When countries are included in the model, the results suggest that the social representation of a female board member is different from that of a female board chair.

The originality of the study is that it shows the factors that constrain women taking up a chair position on NSFs. Theoretically, it contributes to existing literature by demonstrating how a critical mass of females on boards may also extend to the higher and most powerful position of chair.

Although several theoretical concepts imply different determinants of female entrepreneurship, the literature lacks a consensus on their significance. The aim of this paper is to verify how industry specificity influences the gender pay gap and its relation to female entrepreneurship.

The authors distinguish industries based on the gender equality level, measured jointly by two factors: pay gap level and female participation rate. The study has been conducted among 22 European countries with relatively similar institutional backgrounds. The authors carry out the analysis based on the panel regression models, which enable the authors to verify two predefined research questions.

The results of panel regression models indicate that industry specificity plays a significant role in the relation between the pay gap and female entrepreneurship. Generally, it can be concluded that gender pay gap as a measure of gender inequality is dependent on the industry specificity. The dependence is especially visible in the breakdown of male- and female-dominated industries.

The findings are consistent with the assumption that the gender pay gap is a discriminatory factor for women willing to become entrepreneurs in certain industries. The findings of the study may constitute a vital tool in planning to overcome it.

This paper aims to explore whether there is a “low financing trap” that results in underfunding of education systems in low and lower middle income countries (LICs and LMICs). It shows public investment in education has not increased over the last two decades despite extensive advocacy and has equilibrated at about 4% of GDP. More than 6% of GDP is needed to achieve the sustainable development goals.

This research uses large scale data from the UNESCO Institute of Statistics and the World Bank to analyse patterns of investment across sub-Saharan Africa. The most recent data downloaded in 2022 are used for each country. The analysis uses time series analysis to show how flows of resources for education have evolved and illustrates the limits to growth.

The research develops a taxonomy of countries and identifies three bands of effort for investment in education. Individual countries tend to remain in the same band of expenditure level and only the highest band countries are likely to be able to finance their development goals from their own resources between now and 2030. Escape from the low financing trap is critical for future educational development.

Innovative approaches to external assistance are needed which recognise that domestic revenues are at the heart of sustainable financing and that greater efficiency and effectiveness are critical to sustainable solutions. The priority is to accelerate the development of fiscal states, which can finance public goods from domestic revenue and make good use of concessionary assistance.

Small and medium enterprises’ (SMEs) capital structure and financial policies are important areas of policy concern. Only a limited number of studies on capital structure have, however, been conducted on SMEs, and this deficiency is particularly evident when investigating what influences funding decisions around Islamic finance. This paper accordingly aims to investigate whether Omani SME owner-managers’ intention to adopt Islamic finance is influenced by their knowledge of Islamic finance, their own characteristics and/or their firms’ characteristics.

The authors administered a questionnaire survey via face-to-face interviews to 385 SME owner-managers operating in Muscat, Oman’s capital city. The Kruskal–Wallis one-way analysis of variance (ANOVA) non-parametric test was used to analyse the questionnaire survey data.

The findings indicate that while SME owner-managers’ Islamic financial knowledge and personal characteristics do influence their intention to adopt Islamic finance, their firms’ characteristics have no significant influence on SME owner-managers’ decisions to accede to Islamic financing.

The research’s first limitation is that it gathered data from SME owner-managers in Muscat only. Future studies could survey a wider sample of Omani SME owner-managers. Second, the study’s findings cannot be generalised to large and public firms, as the sample includes owner-managers of SMEs only. Finally, there is a need to investigate other factors such as nonfinancial and behavioural factors, which were not explored in the present study, but which may influence SME owner-managers’ Islamic financial decisions.

Theoretical and empirical studies on capital structure have focused primarily on large listed firms. Only a few studies have paid attention to the capital structure of SMEs, particularly in the context of an emerging market such as Oman. This gap in the literature is mostly evident when investigating the factors that influence the funding decision towards Islamic financing in a country, such as Oman, where Islamic finance represents a new banking sector offering.

This paper aims to examine prospective graduate students' attitudes toward educational loan borrowing in an experimental setting.

Participants were randomly assigned to two treatment groups and one control group. Subjects in experimental group 1 received financial education: a short online course on the economic viability of getting a master's degree and how to finance it with a graduate student loan, while subjects in experimental group 2 received financial education along with information on the availability bias.

Relying on a control group in the assessment of financial literacy education intervention impacts, this research finds positive causal treatment effects on individuals’ attitudes toward debt-financed graduate education. In comparison to the control group, experimental subjects perceived the possibility of going into debt with a graduate loan to complete a master’s degree as less stressful and worrying.

This study has important educational policy implications to prevent students from stopping investing in human capital by perceiving educational loan debt as something stressful or worrying. The results can help potential (and current) grad students develop a feasible financial plan for graduate school by encouraging higher education institutions to implement educational loan information and financial education into university seminar courses for better graduate student loan decision-making.

Student attitudes toward debt have been analyzed in the context of higher education, but only a few researchers internationally have used an experimental design to study personal financial decision-making.

The purpose of this paper is to explore the causes and impact of predatory online publishing on Islamic economics and finance.

The method adopted involves a library literature scan to identify the origin and expansion of predatory publishing, as references listed in the paper show. The personal experience and observation of the author over the decades of teaching at various universities endorses the evidence.

The focus on “publish or perish” has led to division of Islamic scholars into conservative and modern economists, and it led to the overuse of mathematical and parametric modeling to the disadvantage of the discipline essentially imbued with unquantifiable ethical norms and values.

The study seeks to induce fruitful and purposive change in the research designs and direction of Islamic economics and finance.

This research initiates discussion on predatory publishing, an issue so far untouched in Islamic economics. It explores its impact on the discipline and suggests ways to curb the malady.