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The aim of this paper is to investigate how values from within Abrahamic religions could be adopted to improve liberal market economies’ (LMEs’) corporate governance business practices.

The concept of spiritual capitalism is explained from an Islamic perspective by adopting three universal Abrahamic values to critically analyse LMEs and offer an ethical alternative to current capitalism concerns.

It is found that LMEs can be improved by considering all stakeholders, putting ethics before economics, and introducing shared risk/reward plus lower debt.

The paper compares LMEs/Co‐ordinated market economies (CMEs)/Islamic countries economies (ICEs) within an ethical framework for LMEs.

The purpose of this paper is to bring together the thoughts and opinions of key members of the Journal of Islamic Marketing's (JIMA) Editorial Team, regarding the recently branded phenomenon of Islamic marketing – in the interests of stimulating further erudition.

The authors adopted an “eagle eye” method to investigate this phenomenon: Where attempts were made to frame general principles and observations; alongside a swooping view of key anecdotal observations – in order to ground and enrich the study. The authors participated in an iterative process when analysing longitudinal and contemporary phenomenological data, in order to arrive at a consensus. This was grounded in: triangulating individual and collective researcher findings; critiquing relevant published material; and reflecting upon known reviewed manuscripts submitted to marketing publications – both successful and unsuccessful.

The authors assert that a key milestone in the study and practice of marketing, branding, consumer behaviour and consumption in connection with Islam and Muslims is the emergence of research wherein the terms “Islamic marketing” and “Islamic branding” have evolved – of which JIMA is also a by‐product. Some have construed Islam marketing/branding as merely a niche area. Given the size of Muslim populations globally and the critical importance of understanding Islam in the context of business and practices with local, regional and international ramifications, scholarship on Islamic marketing has become essential. Western commerce and scholarship has been conducted to a limited extent, and some evidence exists that research is occurring globally. The authors believe it is vital for “Islamic marketing” scholarship to move beyond simply raising the flag of “Brand Islam” and the consideration of Muslim geographies to a point where Islam – as a way of life, a system of beliefs and practices, and religious and social imperatives – is amply explored.

An “eagle eye” view has been taken, which balances big picture and grassroots conceptual findings. The topic is complex – and so while diverse expert opinions are cited, coverage of many issues is necessarily brief, due to space constraints.

Scholars and practitioners alike should find the thoughts contained in the paper of significant interest. Ultimately, scholarship of Islam's influences on marketing theory and practice should lead to results which have pragmatic implications, just as research on Islamic banking and finance has.

The paper appears to be the first to bring together such a diverse set of expert opinions within one body of work, and one that provides a forum for experts to reflect and comment on peers' views, through iteration. Also the term Crescent marketing is introduced to highlight how critical cultural factors are, which shape perceptions and Islamic practises.

The purpose of this paper is to provide an overview of the special issue on practical wisdom for management from the Islamic traditions.

The guest editorial introduces the papers in this special issue, focusing on practical wisdom for management from the Islamic tradition.

Using multiple levels of analysis as well as both academic and practitioner‐oriented perspectives, this special issue demonstrates that the Islamic tradition offers valuable practical wisdom insights in multiple areas including leadership, human resource management, action learning, knowledge transfer and business ethics.

This issue represents the first exploratory contribution to the research on practical wisdom from the Islamic tradition, opening a new focus of research and contributing to management development.

The paper provides some fundamental observations on leadership from an Islamic perspective and the Islamic revealed knowledge. The purpose of this paper is to measure the association between Islamic leadership and the most common western forms of leadership namely; transactional, transformational, authentic, and ethical leadership styles as well as its relationship on leader’s effectiveness and organizational innovation.

An empirical investigation was conducted using portrait value questionnaire recommended by Schwartz (1994b), confirmatory factor analysis (CFA) followed by structural equation modelling (SEM).

The results indicated that Islamic leadership is positively and significantly associated with perception of leader effectiveness and innovation outcomes. In addition the findings revealed that Islamic leadership is positively correlated with transformational, ethical, and authentic leadership as well and not with the transactional leadership style.

Among the practical implications of this research is that while a large body of leadership research has adopted a variation of leadership theories, our results suggest that we should seize to pay attention to the influential Islamic leadership.

The originality of this paper is that it extends scholarly understanding on Islamic perspectives of management which is a relatively new and growing area of interest for academics and practitioners, in terms of both theory and practice.

The purpose of the study is to explore contributions made in Islamic economics methodology, particularly in the use of mathematical models used to build Islamic economic theories.

The methodology adopted is a survey by means of literature review.

Overuse of mathematical models in economics has it apparent weakness in simplifying complex realities and use of impracticable assumptions. But, that notwithstanding, they have a role to play in the development of Islamic economics. Empirical analysis in Islamic economics has weaknesses, including the very fact that moral phenomenon in Islamic economics is difficult to quantify, but its contribution, just like mathematics, is needed to develop the field. Islamic economics adopt mathematical models that do not cause obstacles in achieving the aim of Islamic economics, which is Falah. Where it is harmful, it is discarded. Islamic economics has yet to have a universally accepted research methodology; instead, numerous methodologies are used today. The poor use of mathematics in Islamic economics by new researchers, among other factors, may be due to young researchers’ poor background in mathematics.

The paper is unique in looking at the topic of Islamic economic methodology from the angle of application of mathematical models.

This paper aims to elaborate and discuss key Islamic principles of relevance to environmental ethics and sustainability agendas and reflect on implications for the operations of Islamic financial institutions (IFIs).

An exploration of the tenets of environmental sustainability enshrined in Islamic Shariah through a review of key Islamic texts and relevant prior literature.

The Islamic approach to the environment is holistic and unequivocal. Qur’anic verses describing nature and natural phenomena outnumber verses dealing with commandments and sacraments. Centrality of the environment in the Shari’ah and the Islamic injunction to command right and forbid wrong are suggestive of an affirmative sustainability agenda for IFIs.

Implications and opportunities for corporate managers, environmental movements and policy makers.

By encouraging Muslim engagement in Ijtihad, this work contributes to conceptual development within Islam. It will also be of value to accountability and ecology researchers seeking a better understanding of ecological practices and the internal histories of religions.

The purpose of this paper is to highlight how the new transdiscipline of ecological economics (EE) provides a very useful supporting scientific base for Buddhist traditions and their provision of practical wisdom for economics and management.

The key relevant theoretical and methodological features of EE are explained and related to the Buddhist world view. The strong consistencies between the two perspectives are highlighted. The complementary nature of the practical philosophy of Buddhism and the guiding paradigm of EE can contribute to change in contemporary management approaches aligned with sustainable and welfare-enhancing economic systems.

EE provides a very appropriate scientific base to complement and broaden the positive contribution of Buddhist traditions to sustainable economic systems and consistent management practices.

Despite some very clear parallels and complementarities, the mutual benefits of integrating and strengthening the cross-over between Buddhism and the influential new “sustainability science” of EE are yet to be realised. This paper is focused on this goal. The potential interplay promises significant benefits for both perspectives – EE needs more development of its sustainability ethical basis, and Buddhist perspectives would be enhanced by support from a highly consistent and influential scientific paradigm in a world where secular market economics continues to prevail.

Peace is a very precious commodity. It is being concealed by a number of other goals. All the great living religions‐revealed or non‐revealed are strongly committed to peace. This is even more true for the three Abrahamic faiths‐Judaism, Christianity and finally Islam. Unfortunately, the history of world events during last few decades attests to the fact that there exist more suspicions, distrusts, enmity, hatred and anger among the believers belonging to these three faiths than the others. The reason being the primary goals pertaining to political, socio‐cultural and economic pursued by the Christian‐dominated West are predominated by the goal of supremacy and domination and not of coexistence and cooperation. In pursuing these goals the Christian including the Jewish dominated West are pursuing the philosophy of moneytheism, liberalism, modernism and secularism. The Muslims living either in their own lands or in the West being the victims of their own despotic and autocratic rulers and their Western sympathisers are forced to take recourse to equally unjust methods branded as terrorism. Having realised the need for peaceful coexistence, this paper advocates for a thorough transformation as far as the basic goals are concerned. In order to achieve this, the existing academic, cultural and religious institutions and media need to undergo transformation based on an acceptable moral education on behaviours, norms and practices.

The purpose of this study is to understand the development of social capital in an Arab business environment, and provide an in-depth description of the nature and role of three key Arabic business relationship characteristics (ehsan, et-moone and wasta), their impact on each other and key influencing factors.

A qualitative research design was used, in which face-to-face semi-structured interviews were conducted with innovation teams (22 team members) at six industrial small and medium-sized enterprises in Saudi Arabia. The interviews were recorded and transcribed, then analyzed (thematic coding) through NVivo.

The findings suggest that wasta, ehsan and et-moone align closely with the three social capital dimensions (structural, cognitive and relational); thus, developing these three relationship characteristics most likely results in developing social capital. The findings also expand the description of the three business relationship characteristics. Moreover, ehsan, et-moone and wasta appear to influence each other, and are affected by other factors such as an individual’s age and position, and the duration of the relationship. Ehsan has a positive influence on the development of et-moone, while the existence of et-moone appears to be necessary for the establishment of wasta-capital. A high level of ehsan might influence the relationship between et-moone and wasta-use and limit the negative usage of wasta.

International managers can improve the level of ehsan in their organizational and business relationships through assigning incentives and playing the role of moral champion to encourage ehsan behavior. Managers aiming to increase et-moone may choose team members with a high level of ehsan, emphasizing the development of personal relationships, and providing opportunities for socialization both inside and outside the workplace. A high level of ehsan and et-moone will assist managers to develop and use wasta.

This study makes a threefold contribution to the literature. First, it provides an expanded description of the three Arabic business relationship characteristics and how they align closely with the dimensions of social capital. Wasta aligns with the structural dimension and ehsan aligns with the cognitive dimension, while et-moone aligns closely with the relational dimension. Second, it suggests and shows how the three relationship characteristics might interact with each other. Ehsan appears to influence et-moone, and also the relationship between et-moone and wasta. Et-moone appears to have a positive influence on wasta use. Third, the findings also indicate that there might be other factors (e.g. age and position) that influence the interactions between the three business relationship characteristics.