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Article
Publication date: 1 February 2022

Mohamad Rahmawan Arifin, Bayu Sindhu Raharja and Arif Nugroho

With a substantial Muslim population in the world, Indonesia has economic potential in halal products’ consumption. However, as new products develop, halal products need a…

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Abstract

Purpose

With a substantial Muslim population in the world, Indonesia has economic potential in halal products’ consumption. However, as new products develop, halal products need a specific marketing strategy since the consumers of this industry have unique characteristics. This study aims to examine consumer behavior toward halal products by examining how content quality, religious consciousness and brand awareness affect consumer buying behavior and consumer loyalty.

Design/methodology/approach

This research uses a quantitative approach by surveying 1,429 young Muslim students in Indonesia. This research uses a structural equation model analysis to prove the relationship among the variables of this study.

Findings

The results revealed that religious consciousness and content quality have a direct positive significant influence on consumer buying behavior. The indirect significant effect is also exhibited by brand awareness as a mediating variable. This paper also found empirical evidence that consumer buying behavior has a significant positive relationship with consumer loyalty. Besides, the significant positive relationship between consumer buying behavior and consumer loyalty is moderated by consumers’ gender.

Research limitations/implications

This study is restricted in young Muslim community from Islamic universities in Yogyakarta and Central Java, Indonesia. Besides that, this research is further restricted regarding the involved variables that is tested in proposed model. This concerns the involvement of content quality, religious consciousness, brand awareness, consumer buying behavior and consumer loyalty.

Practical implications

The result would give an insight to marketing practitioners on formulating marketing strategy to attract much consumers on purchasing halal products and then expanding their business. This study further profound that religious-based products’ consumers have seem characteristics to conventional-based products, they need to be induced through rational approaches of appropriate content marketing strategy.

Originality/value

This study gives an empirical proof to extended of stimuli-organism-respond model, which is held by many scholars as the primary theory in spelling out the consumer behavior. To the best of the authors’ knowledge, this research is the first study that attempts the using of such theory to capture the consumer behavior in halal industry. Besides, this study further serves a breakthrough on how does content marketing determine young Muslim consumers’ behavior.

Details

Journal of Islamic Marketing, vol. 14 no. 4
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 5 April 2022

Arif Nugroho, Ruslan Prijadi and Ratih Dyah Kusumastuti

This study aims to investigate the multiple entrepreneurial, technology and marketing orientations effects on education service firm performance (FP) and the mediating role of…

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Abstract

Purpose

This study aims to investigate the multiple entrepreneurial, technology and marketing orientations effects on education service firm performance (FP) and the mediating role of information technology (IT) adoption capability.

Design/methodology/approach

Empirical research based on 535 education service small and medium enterprises (SMEs) in Indonesia and Singapore. Various validity and reliability tests were carried on before the actual analysis was conducted using structural equation modeling.

Findings

The results conclude that IT adoption capability is crucial for entrepreneurial and technology orientation (TO) to produce higher FP. This finding supports that IT capability is effective at helping firms implement their strategic orientations (SOs). In addition, market orientation (MO) influence on FP is more direct than other orientations under investigation.

Practical implications

This study suggests that SOs, particularly entrepreneurial and technology, enable managers to improve FP via the development of IT adoption capability. The result shows that firms with multiple SOs would be able to respond to market challenges, utilize new technology and become more innovative, which eventually yields higher performance.

Originality/value

This study extends the understanding of multiple SOs influence on FP using the mechanism of IT adoption capability.

Details

Journal of Strategy and Management, vol. 15 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

Article
Publication date: 31 May 2022

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

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Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Managers aiming to improve company performance can achieve this objective by utilizing different strategic orientations (SOs). Their impact is considerably greater when aggregated and implementation is further enhanced by the presence of relevant information technology (IT) capabilities.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Article
Publication date: 20 February 2024

Ankita Kalia

Despite the widespread prevalence of share pledging by Indian promoters, this area remains out of the researchers’ purview. This study aims to bridge this research gap by…

Abstract

Purpose

Despite the widespread prevalence of share pledging by Indian promoters, this area remains out of the researchers’ purview. This study aims to bridge this research gap by delineating the impact of promoter share pledging on future stock price crash risk and financial performance in India.

Design/methodology/approach

A sample of 257 companies listed on the Standard and Poor’s Bombay Stock Exchange 500 (S&P BSE 500) Index has been analysed using panel (fixed-effects) data regression methodology over 2011–2020. Further, alternative proxies for crash risk and financial performance are adopted to ensure that the study’s initial findings are robust. Finally, the instrumental variable with the two-stage least squares (IV-2SLS) method has also been employed to alleviate endogeneity concerns.

Findings

The results suggest a significantly positive relationship between promoter share pledging and future stock price crash risk in India. Conversely, this association is significantly negative for future financial performance. Moreover, the results hold, even after including alternative proxies of stock price crash risk and financial performance and addressing endogeneity concerns.

Originality/value

Owing to the sizeable equity shareholdings of the promoters, share pledging has remained a lucrative source of finance in India. Despite the popularity, the findings of this study question the relevance of share pledging by Indian promoters considering its impact on aggravating future stock price crash risk and deteriorating future financial performance.

Details

Journal of Advances in Management Research, vol. 21 no. 2
Type: Research Article
ISSN: 0972-7981

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Article
Publication date: 23 June 2022

Muhammad Rabiu Danlami, Muhamad Abduh and Lutfi Abdul Razak

This study aims to examine the nexus between CAMELS, risk-sharing financial performance and Islamic banks' stability. It also attempts to assess the conditioning effects of…

Abstract

Purpose

This study aims to examine the nexus between CAMELS, risk-sharing financial performance and Islamic banks' stability. It also attempts to assess the conditioning effects of institutional quality in the relationship between risk-sharing contracts and the stability of Islamic banks.

Design/methodology/approach

The quantitative research design was employed using secondary data from 20 Islamic banks in six countries over the period 2007–2019. The study utilized the feasible generalized least squares method for the analysis.

Findings

The results indicate that not all CAMELS variables support the stability of Islamic banks. The musharakah contract induced stability of the banks, whereas mudarabah financing reduced it. The interaction between risk-sharing finance and the quality of institutions suggested that the mudarabah contract via institutional quality raises the stability of Islamic banks. On the other hand, the quality of institutions encourages the banks to offer more musharakah, but it leads to an increase in their risk-taking. We show the impact of changes in risk-sharing variables on stability amplified by institutional quality. The results were robust when alternative measures of stability were used.

Practical implications

Various stakeholders in banking activities could learn from the results of this study. Islamic banks could improve their positions in terms of screening for risk-sharing financing. They could also leverage more on musharakah, as it promotes stability and could generate more returns for the banks. The mudarabah financing can be improved if there is a proper evaluation of entrepreneurs. Policymakers would learn more about the importance of institutional quality, as it provides a friendly environment for both mudarabah and musharakah businesses to thrive. This could increase the participation of Islamic banks in the real economy.

Originality/value

Previous studies concentrated on the effects of CAMELS on the profitability of Islamic banks. This study shows that CAMELS alone might not necessarily capture the financial performance of Islamic banks. Therefore, the risk-sharing financing variables are included alongside CAMELS to determine their effects on stability. Second, unlike the past research, this study used the quality of institutions to moderate the nexus between risk-sharing financing and the stability of Islamic banks.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 8
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 2 October 2019

Ibrahim Fatwa Wijaya, Arif Rahman Hakim, Nugroho Saputro and Mulyadi Mulyadi

This paper aims to examine the relationship between religiosity level and reasons for saving money in Islamic microfinance institutions [Baitul Maal wat Tamwil (BMT)] in Surakarta…

Abstract

Purpose

This paper aims to examine the relationship between religiosity level and reasons for saving money in Islamic microfinance institutions [Baitul Maal wat Tamwil (BMT)] in Surakarta and Sukoharjo, Indonesia.

Design/methodology/approach

A chi-square test was used to identify the relationship between religiosity level and saving decisions in BMTs. In addition, the authors tested religiosity level and the reasons for transactions in both BMTs and conventional banking. Data were collected via a questionnaire. A total of 523 respondents from Surakarta and Sukoharjo, Indonesia, participated in the survey. The respondents are customers of 31 BMTs in Surakarta and Sukoharjo.

Findings

The authors find a significant relationship between one’s religiosity and the reason for saving money in BMTs. Products that are in accordance with Islamic principles form the highest reason for saving money in BMTs, followed by quality of service, recommendation from friends and location. In addition, purpose of business is the main reason for transactions in both BMTs and conventional banking. However, there is no significant relationship between religiosity level and the decision to transact in both BMTs and conventional banking.

Originality/value

There is a lack of literature discussing Islamic microfinance institutions, especially in Indonesia. Furthermore, BMT customers have different characteristics compared with those of large banks.

Details

Journal of Islamic Marketing, vol. 11 no. 6
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 4 July 2022

Bayu Adi Nugroho

This research aims to select the best-fitting model(s) of equal risk contribution portfolios (ERC). ERC is a robust estimation in the absence of reasonable expectations about…

Abstract

Purpose

This research aims to select the best-fitting model(s) of equal risk contribution portfolios (ERC). ERC is a robust estimation in the absence of reasonable expectations about future returns.

Design/methodology/approach

The portfolio consists of five environmental-friendly exchange-traded funds (ETFs). It applies equal risk optimization, beneficial when the assets are firmly linked, such as the ETFs. This paper operationalizes 20 covariance models in portfolio construction, and a portfolio with classic covariance is the benchmark to beat. To select the best-fitting model(s), the paper applies statistical inferences of the model confidence set. This research also constructs the newly-developed minimum connectedness optimization method and utilizes maximum drawdown as the primary evaluation tool.

Findings

The outbreak of COVID-19 hugely impacts the portfolio drawdown. The results also show that the classic covariance is hard to beat, partly explained by estimation error and model misspecification. This paper suggests that equal risk contribution can benefit from copula-based covariance. It consistently and significantly outperforms the other models in various robustness tests.

Practical implications

In the absence of substantial predictions about future returns and the existence of strongly linked assets, selecting appropriate portfolio components by risk contribution is a sound choice.

Originality/value

This is the first paper to select the best-fitting model(s) of ERC portfolio during the COVID-19.

Details

International Journal of Managerial Finance, vol. 18 no. 4
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 18 May 2023

Fajar Kusnadi Kusumah Putra and Rob Law

This paper identifies the critical success factors (CSFs) of virtual hotel operator (VHO) in using hotel management system partnerships with small- and medium-sized hotels (SMSHs).

Abstract

Purpose

This paper identifies the critical success factors (CSFs) of virtual hotel operator (VHO) in using hotel management system partnerships with small- and medium-sized hotels (SMSHs).

Design/methodology/approach

This study uses a qualitative approach, with 25 semi-structured interviews with hotel owners and VHO management. Thematic analysis is used to determine themes to evaluate hotel owners and operators' perceptions.

Findings

CSFs for VHO partnership with SMSHs include marketing and promotion strategies, client relationships, training and human resources development, hotel operation management, innovation strategies, capital expenditures and property management systems (PMSs). VHOs also have a symbolic impact on the mutualistic relationship with SMSHs by increasing service and enhancing product competitiveness and profitability.

Research limitations/implications

Findings are beneficial for VHO in determining the most significant CSFs, thereby establishing additional metrics in business performance and increasing resilience in the accommodation sector. Further studies can measure the digital technology factors from VHO, including PMSs and mobile applications.

Originality/value

This study first identifies CSFs for VHO companies from the perspectives of hotel owners and management. This contribution adds to the literature on CSFs in the context of digital technology implementation in SMSHs. Moreover, implications are beneficial for VHO management in determining the most significant CSFs for companies to measure the business performance of the companies and increase resilience in the accommodation sector.

Details

Journal of Hospitality and Tourism Insights, vol. 7 no. 3
Type: Research Article
ISSN: 2514-9792

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Article
Publication date: 11 July 2023

Erny Arianty, Tuti S.B. Utami, Syanni Yustiani and Rizqi Haniyah

This study aims to analyze the effectiveness of the spin-off policy which includes clarity of objectives and criteria, implementation and monitoring and evaluation functions.

Abstract

Purpose

This study aims to analyze the effectiveness of the spin-off policy which includes clarity of objectives and criteria, implementation and monitoring and evaluation functions.

Design/methodology/approach

The method used is a qualitative method with a theme approach and the analytical hierarchy process (AHP). Data were obtained from the results of focus group discussions and AHP questionnaires with informants from Indonesian Sharia Insurance Association (AASI), the sharia life and general insurance industry, the Sharia Supervisory Board, the government and regulators.

Findings

The results of the research are the effectiveness of the clarity of goals and criteria has not been realized optimally, the effectiveness of increasing profitability has not been realized, and the effectiveness of the monitoring and evaluation functions by the government and regulators has been realized. The supporting factor that has the highest level of importance is the role of the government and regulator.

Research limitations/implications

The limitation of this research is that it has not used a wider range of profitability test tools and projections. The theoretical implication of this research is as a reference for robust research in identifying spin-off success factors because this study uses a mixed method where qualitative methods are used in the study using data from theory and expert informants from three parties: regulatory parties, associations (AASI) and the insurance company (life insurance and general insurance). These results form the basis for compiling a questionnaire with a quantitative method so that the data is become relevant based on theory (design) and practical side.

Practical implications

Practical implication of the study is that the Islamic insurance industry has to prepare to achieve condition of Tabarru funds and the investment reaches 50% of the main insurance fund. AASI, as the sharia insurance industry organization, continues innovating the most suitable form of spin-off that can be achieved by the Sharia business unit and also continues to coordinate with regulators to discuss existing problems. The government and regulators also support the implementation of the spin-off by providing convenience in various aspects such as spin-off period relaxation and government incentive and relaxation to enhance sharia insurance industry.

Originality/value

The contribution of the results of this research for the government and regulatory agencies is as input in setting policies and regulations related to spin-offs, for the industry is expected to be more prepared in terms of resources, commitment and strategy.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 26 June 2024

Dina Hassouna, Engy ElHawary and Rasha ElBolok

This study aims to investigate how major big bath accounting practices and CEO turnover in Egypt relate to one another, as well as the first to use the CEO’s origin as a…

Abstract

Purpose

This study aims to investigate how major big bath accounting practices and CEO turnover in Egypt relate to one another, as well as the first to use the CEO’s origin as a moderating factor.

Design/methodology/approach

This study uses 10-year longitudinal data from 2012 to 2021 and 290 firm-year observations from Egypt’s listed nonfinancial firms that witnessed CEO turnover to identify the significant big bath accounting practices in Egyptian businesses after the Egyptian revolution and the COVID-19 pandemic. Using fixed and random effect models, the authors investigate the impact of CEO turnover on company earnings during the first year of a newly appointed CEO as an indicator of big bath practices after controlling CEO gender, experience, firm size, leverage, return on assets, return on equity and industry. The hypotheses were investigated using static panel data.

Findings

The results show the presence of big bath practices in the Egyptian market. Furthermore, big bath accounting practices are positively correlated with CEO turnover. Moreover, the results indicate that big bath accounting practices are only endured when external CEOs are employed, rather than internal ones.

Research limitations/implications

The sample size and availability of data are the main research limitations. In addition, this study only examined CEO turnover and CEO origin as moderators in big bath accounting. Thus, future research may consider other CEO characteristics and political factors associated with big bath practices.

Practical implications

The findings from this study offer valuable insights to investors and regulators for effective decision-making and governance practices within the Egyptian capital market, while also contributing to a more informed approach to emerging markets on a global scale.

Originality/value

The findings contribute to the big-bath and CEO turnover and origin literature by showing a lower ceiling for earnings manipulation and using Egypt as a case study due to its unique institutional environment.

Details

Journal of Financial Reporting and Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-2517

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