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1 – 4 of 4Tasruma Sharmeen Chowdhury and S.M. Kalbin Salema
This study aims to identify the factors that influence the willingness of Bangladeshi retail investors to invest in ṣukūk.
Abstract
Purpose
This study aims to identify the factors that influence the willingness of Bangladeshi retail investors to invest in ṣukūk.
Design/methodology/approach
The authors surveyed Bangladeshi retail investors using a structured questionnaire to understand their perspectives on potential investment in ṣukūk. The authors considered the behavioral aspects of retail investors and the desired ṣukūk features to analyze the demand side. Factors and regression analyses were performed to identify the persuading factors.
Findings
The results indicate that investor awareness is a fundamental factor in potential investments in ṣukūk. Investors perceive the security represented by government and third-party guarantees as a persuasive feature of ṣukūk. The tradability and tenor of ṣukūk also affect the investment intention. Sharīʿah consciousness of the investors also plays a significant role in their investment decisions.
Research limitations/implications
One limitation of this study is that it incorporates potential individual investors only, and precludes institutional investors. In the future, there is scope for research to explore the demand factors impacting institutional investors of ṣukūk in Bangladesh.
Practical implications
The authors expect that the study will aid policymakers and ṣukūk issuers in crafting strategies to cater to the needs of Bangladeshi retail investors.
Originality/value
This study is the earliest research conducted in Bangladesh to determine the factors impacting the willingness of individual investors to make their potential investments in ṣukūk. To the best of the authors' knowledge, no study has analyzed the desired ṣukūk features from the perspective of Bangladeshi retail investors.
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Sri Rahayu Hijrah Hati, Muhammad Budi Prasetyo and Nur Dhani Hendranastiti
The study aims to examine the difference of financial-based brand equity of Sharia-compliant and non-Sharia-compliant companies listed in the stock market.
Abstract
Purpose
The study aims to examine the difference of financial-based brand equity of Sharia-compliant and non-Sharia-compliant companies listed in the stock market.
Design/methodology/approach
The five-year data were collected from 561 companies listed in the Indonesian stock market (349 Sharia-compliant firms and 212 non-Sharia-compliant firms).
Findings
Based on five years of observations, the study shows that Sharia-compliant companies have much higher brand equity than companies that are not Sharia-compliant. However, the study did not find consistent results when the study examined the differences between brand equity in newly listed Sharia-compliant firms in the short run (two-quarters of the observations). In other words, Sharia-compliant status positively impacted a company’s brand equity only in the long run.
Research limitations/implications
The study examines only the brand equity of Sharia- and non-Sharia-compliant companies in the Indonesian stock market.
Practical implications
The study suggests that companies should list their equity in the Islamic stock market as the empirical evidence shows that the companies listed in the Sharia index have much higher brand equity than companies listed in the non-Sharia index, although this impact can only be seen in the long run.
Originality/value
The study integrates finance and marketing perspectives, which are often disconnected in daily business. In addition, the study provides a piece of empirical evidence on the effect of financial decision to be listed in the Islamic stock market on the establishment of brand equity, which represents the long-term intangible assets of the firm in the eyes of the customers.
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Abderahman Rejeb, Karim Rejeb and Suhaiza Zailani
This study aims to address the noted gap in comprehensive overviews detailing the developmental trajectory of Islamic finance (IF) as an interdisciplinary academic field.
Abstract
Purpose
This study aims to address the noted gap in comprehensive overviews detailing the developmental trajectory of Islamic finance (IF) as an interdisciplinary academic field.
Design/methodology/approach
The study introduces a unique approach using the combined methodologies of co-word analysis and main path analysis (MPA) by examining a broad collection of IF research articles.
Findings
The investigation identifies dominant themes and foundational works that have influenced the IF discipline. The data reveals prominent areas such as Shariah governance, financial resilience, ethical dimensions and customer-centric frameworks. The MPA offers detailed insights, narrating a journey from the foundational principles of IF to its current challenges and opportunities. This journey covers harmonizing religious beliefs with contemporary financial models, changes in regulatory landscapes and the continuous effort to align with broader socioeconomic aspirations. Emerging areas of interest include using new technologies in IF, standardizing global Islamic banking and assessing its socioeconomic effects on broader populations.
Originality/value
This study represents a pioneering effort to map out and deepen the understanding of the IF field, highlighting its dynamic evolution and suggesting potential avenues for future academic exploration.
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Abdulhadi Abdulrahim Tashkandi
This study aims to analyze the impact of Shariah supervision and corporate governance (CG) variables on the performance of Islamic banks (IBs) in Gulf Cooperation Council (GCC…
Abstract
Purpose
This study aims to analyze the impact of Shariah supervision and corporate governance (CG) variables on the performance of Islamic banks (IBs) in Gulf Cooperation Council (GCC) countries.
Design/methodology/approach
A dynamic panel regression model is used to analyze bank performance’s persistence and the results are estimated using the generalized method of moments estimator. The sample includes 27 full-fledged IBs in 6 GCC countries from 2005 to 2020.
Findings
The results reveal that Shariah supervision and CG-related variables are significant in determining IBs' performance. Furthermore, the results show that bank size, capital adequacy ratio, economic growth and inflation are significant and positive determinants of IBs’ financial performance.
Practical implications
This study is conducted to fill a gap in the literature regarding the effect of Shariah supervision on IBs’ performance, recommending the implementation of CG guidelines in IBs to improve their current practices.
Originality/value
Despite existing studies on the relationship between Shariah governance and performance, this study contributes to the Shariah governance and Islamic banking literature in GCC, which is the most important region of the Islamic financial industry. In addition, it provides additional insight into the fundamental role of Shariah supervision in IBs.
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