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1 – 10 of 43Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a…
Abstract
Purpose
Despite being a Muslim-dominated country, Bangladesh has widely embraced traditional microfinance since its inception in the mid-1970s. However, Islamic microfinance, which has a lot to offer to the poor, is still in its infancy and has yet to gain momentum in the country. Therefore, the purpose of this study is to analyze the importance of Islamic microfinance and propose alternative Shariah-compliant microfinance models in Bangladesh.
Design/methodology/approach
This study is based on the desk research method, which relies on existing literature to collect secondary data on key concerns of traditional microfinance programs. In addition, institutional-level secondary data were also collected from the Microcredit Regulatory Authority (MRA) of Bangladesh. Guided by the Maqasid-al-Shariah, this study then proposes several Islamic microfinance models to overcome selected challenges faced by the microfinance industry in Bangladesh.
Findings
This study suggested three composite Shariah-compliant microfinance models, which are likely to help the underprivileged and thus ensure the achievement of the sustainable development goals in Bangladesh. The first model explained how the operational strategy of incumbent microfinance institutions (MFIs) could be restructured, while the second proposed the organizational strategies for establishing a new MFI. The third model used the notion of Sadaqah (charity) to address the multiple borrowing issues of the industry. Meanwhile, the successful transformation of the conventional microfinance industry to an Islamic one is dependent on the effective collaboration between the regulatory authorities, practitioners and MFIs.
Originality/value
Albeit the paucity of literature on the topic, the findings of this study will guide policymakers/practitioners in designing relevant microfinance models to help transform conventional microfinance into Islamic microfinance in Bangladesh.
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Energy security concerns and regional economic interests are driving the construction of more coal mines and coal-fired power stations, though government mandates will set a cap…
Details
DOI: 10.1108/OXAN-DB286455
ISSN: 2633-304X
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Geographic
Topical
Reem Zaabalawi, Gregory Domenic VanderPyl, Daniel Fredrick, Kimberly Gleason and Deborah Smith
The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO…
Abstract
Purpose
The purpose of this study is to extend the Fraud Diamond Theory to celebrity Special Purpose Acquisition Companies (SPACs) and investigate their post-Initial Public Offering (IPO) stock market performance.
Design/methodology/approach
After obtaining a sample of celebrity SPACs from the Spacresearch.com database, fraud risk characteristics were obtained from Lexis Nexus searches. Buy and hold abnormal returns were calculated for celebrity SPACs versus a small-cap equity benchmark for time intervals after IPO, and multiple regression analysis was performed to examine the relationship between fraud risk features and post-IPO returns.
Findings
Celebrity SPACs exhibit Fraud Diamond characteristics and significantly underperform a small-cap stock portfolio on a risk-adjusted basis after IPO.
Research limitations/implications
This study only examines celebrity SPACs that conducted IPOs on the NYSE and NASDAQ/AMEX and does not include those that are traded on the Over the Counter Bulletin Board (OTCBB).
Practical implications
Celebrity endorsement of SPAC vehicles attracts investors who may not be properly informed regarding the risk characteristics of SPACs. Accordingly, investors should be warned that celebrity SPACs underperform a small-cap equity portfolio and exhibit significant elements of fraud risk.
Social implications
The use of celebrity endorsement as a marketing device to attract investment in SPACs has regulatory implications.
Originality/value
To the best of the authors’ knowledge, this paper is the first to examine the fraud risk characteristics and post-IPO performance of celebrity SPACs.
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Chaofan Wang, Yanmin Jia and Xue Zhao
Prefabricated columns connected by grouted sleeves are increasingly used in practical projects. However, seismic fragility analyses of such structures are rarely conducted…
Abstract
Purpose
Prefabricated columns connected by grouted sleeves are increasingly used in practical projects. However, seismic fragility analyses of such structures are rarely conducted. Seismic fragility analysis has an important role in seismic hazard evaluation. In this paper, the seismic fragility of sleeve connected prefabricated column is analyzed.
Design/methodology/approach
A model for predicting the seismic demand on sleeve connected prefabricated columns has been created by incorporating engineering demand parameters (EDP) and probabilities of seismic failure. The incremental dynamics analysis (IDA) curve clusters of this type of column were obtained using finite element analysis. The seismic fragility curve is obtained by regression of Exponential and Logical Function Model.
Findings
The IDA curve cluster gradually increased the dispersion after a peak ground acceleration (PGA) of 0.3 g was reached. For both columns, the relative displacement of the top of the column significantly changed after reaching 50 mm. The seismic fragility of the prefabricated column with the sleeve placed in the cap (SPCA) was inadequate.
Originality/value
The sleeve was placed in the column to overcome the seismic fragility of prefabricated columns effectively. In practical engineering, it is advisable to utilize these columns in regions susceptible to earthquakes and characterized by high seismic intensity levels in order to mitigate the risk of structural damage resulting from ground motion.
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Geetanjali Pinto, Shailesh Rastogi and Bhakti Agarwal
This paper aims to evaluate whether promoter holding influences a bank’s liquidity in India’s leading emerging market. Furthermore, it also evaluates the moderating role of…
Abstract
Purpose
This paper aims to evaluate whether promoter holding influences a bank’s liquidity in India’s leading emerging market. Furthermore, it also evaluates the moderating role of risk-weighted assets (RWA) on the relationship between promoter holding and liquidity.
Design/methodology/approach
The data consists of 24 banks for the period of 12 years from 2010 to 2021. Static panel data is used to analyze the relationship between the liquidity coverage ratio (LCR) as the dependent variable, the promoter used as an explanatory variable and RWA used as a moderating variable in this study.
Findings
This study concludes that an increase in promoter holding helps to improve the liquidity of Indian banks. Moreover, it also shows that using RWA as a moderating term enhances the relationship between promoter holdings and Indian banks’ liquidity.
Research limitations/implications
This study evaluated the impact of promoter ownership solely on the LCR, a statistic used to measure the short-term liquidity of banks in the Indian setting. Additional corporate governance factors, such as the makeup of the board of directors, relevant ownership concentration factors and external factors with the potential to affect the liquidity position of banks, could potentially be the subject of future investigations.
Practical implications
This paper has both managerial and policy-level implications. It shows that it is advantageous for banks’ ownership composition to include more enormous promoter holdings to enhance banks’ liquidity. Policymakers can, thus, formulate policies to encourage banks to have more extensive promoter holdings.
Originality/value
The impact of promoter ownership on bank liquidity has not been evaluated in earlier research projects. Furthermore, the use of RWA as a moderating variable to determine this link has not been fully investigated, particularly in the context of a developing country like India.
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Olapeju Comfort Ogunmokun, Oluwasoye Mafimisebi and Demola Obembe
The reason for concern is the rapid decline in loans to small enterprises which is critical to their performance, compared to large businesses following the periods of banking…
Abstract
Purpose
The reason for concern is the rapid decline in loans to small enterprises which is critical to their performance, compared to large businesses following the periods of banking reformations in Nigeria. Thus, the purpose of this paper is to investigate the influence of risk perception on bank lending behaviour to small enterprises. It also investigates the impact of government intervention, consolidation and recapitalization on the relationship between risk perception and bank lending behaviour to small enterprise.
Design/methodology/approach
This study empirically analysed (ordinary least square) secondary data obtained from the Central Bank of Nigeria Statistical Bulletins, Annual Statement of Accounts covering the period 1992–2020.
Findings
The results show that the absence of government interventions and the presence of banking reformations have statistically negative significant effect on bank lending to small enterprises. The findings challenge the argument that generally assumes risk aversion of banks towards small enterprise lending because of small enterprise’s inability to prove their credit worthiness and consequently constraining access to finance to the sector. Instead, the results and analysis from this study found theoretical support for the variation of bank behaviour in lending to small enterprises depending on the status of wealth of the financial system.
Practical implications
A key lesson from this study for government concerned about promoting performance of the small enterprise sector is that regulating and enforcing lending requirements on access to debt financing of the sector is necessary if constraints in access debt finance is to be eliminated. Second, while strategies such as bank consolidation, recapitalization may help strengthen and make financially robust the banking system; it places the banks in a gain position where losses looms to them than gain.
Originality/value
This study challenges the argument that generally assumes risk aversion of banks towards small enterprise lending as a result of inability to prove their credit worthiness and consequently constraining access to finance to the sector. Instead, the results and analysis from this study reveal a variation in lending to small enterprises and suggests that the position of the bank in relation to a reference point influences how risk is perceived by the bank and thus impacts on their risk decision-making behaviour.
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Shilong Zhang, Changyong Liu, Kailun Feng, Chunlai Xia, Yuyin Wang and Qinghe Wang
The swivel construction method is a specially designed process used to build bridges that cross rivers, valleys, railroads and other obstacles. To carry out this construction…
Abstract
Purpose
The swivel construction method is a specially designed process used to build bridges that cross rivers, valleys, railroads and other obstacles. To carry out this construction method safely, real-time monitoring of the bridge rotation process is required to ensure a smooth swivel operation without collisions. However, the traditional means of monitoring using Electronic Total Station tools cannot realize real-time monitoring, and monitoring using motion sensors or GPS is cumbersome to use.
Design/methodology/approach
This study proposes a monitoring method based on a series of computer vision (CV) technologies, which can monitor the rotation angle, velocity and inclination angle of the swivel construction in real-time. First, three proposed CV algorithms was developed in a laboratory environment. The experimental tests were carried out on a bridge scale model to select the outperformed algorithms for rotation, velocity and inclination monitor, respectively, as the final monitoring method in proposed method. Then, the selected method was implemented to monitor an actual bridge during its swivel construction to verify the applicability.
Findings
In the laboratory study, the monitoring data measured with the selected monitoring algorithms was compared with those measured by an Electronic Total Station and the errors in terms of rotation angle, velocity and inclination angle, were 0.040%, 0.040%, and −0.454%, respectively, thus validating the accuracy of the proposed method. In the pilot actual application, the method was shown to be feasible in a real construction application.
Originality/value
In a well-controlled laboratory the optimal algorithms for bridge swivel construction are identified and in an actual project the proposed method is verified. The proposed CV method is complementary to the use of Electronic Total Station tools, motion sensors, and GPS for safety monitoring of swivel construction of bridges. It also contributes to being a possible approach without data-driven model training. Its principal advantages are that it both provides real-time monitoring and is easy to deploy in real construction applications.
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Mathew B. Fukuzawa, Brandon M. McConnell, Michael G. Kay, Kristin A. Thoney-Barletta and Donald P. Warsing
Demonstrate proof-of-concept for conducting NFL Draft trades on a blockchain network using smart contracts.
Abstract
Purpose
Demonstrate proof-of-concept for conducting NFL Draft trades on a blockchain network using smart contracts.
Design/methodology/approach
Using Ethereum smart contracts, the authors model several types of draft trades between teams. An example scenario is used to demonstrate contract interaction and draft results.
Findings
The authors show the feasibility of conducting draft-day trades using smart contracts. The entire negotiation process, including side deals, can be conducted digitally.
Research limitations/implications
Further work is required to incorporate the full-scale depth required to integrate the draft trading process into a decentralized user platform and experience.
Practical implications
Cutting time for the trade negotiation process buys decision time for team decision-makers. Gains are also made with accuracy and cost.
Social implications
Full-scale adoption may find resistance due to the level of fan involvement; the draft has evolved into an interactive experience for both fans and teams.
Originality/value
This research demonstrates the new application of smart contracts in the inter-section of sports management and blockchain technology.
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Ali Uyar, Nouha Ben Arfa, Cemil Kuzey and Abdullah S. Karaman
This study investigates CSR reporting’s role in debt access and cost of debt with the moderating role of external assurance and GRI adoption in emerging markets. Such an…
Abstract
Purpose
This study investigates CSR reporting’s role in debt access and cost of debt with the moderating role of external assurance and GRI adoption in emerging markets. Such an investigation will help facilitate external fund flow to firms in better terms.
Design/methodology/approach
We collected data from 16 emerging markets between 2008 and 2019 from the Thomson Reuters Eikon and ran fixed effects regression analysis and robustness tests by addressing endogeneity concerns, adopting alternative sample and integrating additional control variables.
Findings
The results show that CSR reporting has a positive association with access to debt and a negative association with the cost of debt. Furthermore, both external assurance and GRI adoption do not significantly moderate between CSR reporting and access to debt and cost of debt. Hence, creditors in emerging markets are not interested in CSR report assurance and GRI framework adoption and do not integrate them into their lending decisions.
Originality/value
Emerging markets are unique settings characterized by high growth rates, limited capital availability, high debt costs and weak institutional environments. Thus, reaching debt with convenient conditions is critical for emerging market firms to finance their growth. Hence, our study will help emerging market firms reach external funding more easily and in better terms via CSR transparency. Besides, our investigation is based on a broad sample of emerging markets, and hence updates prior emerging market studies conducted in single-country settings. Lastly, we test the complementarity of third-party assurance and GRI adoption to CSR reporting in loan contracting.
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Samridhi Garg, Monica Puri Sikka and Vinay Kumar Midha
Perspiration and heat are produced by the body and must be eliminated to maintain a stable body temperature. Sweat, heat and air must pass through the fabric to be comfortable…
Abstract
Purpose
Perspiration and heat are produced by the body and must be eliminated to maintain a stable body temperature. Sweat, heat and air must pass through the fabric to be comfortable. The cloth absorbs sweat and then releases it, allowing the body to chill down. By capillary action, moisture is driven away from fabric pores or sucked out of yarns. Convectional air movement improves sweat drainage, which may aid in body temperature reduction. Clothing reduces the skin's ability to transport heat and moisture to the outside. Excessive moisture makes clothing stick to the skin, whereas excessive heat induces heat stress, making the user uncomfortable. Wet heat loss is significantly more difficult to understand than dry heat loss. The purpose of this study is to provided a good compilation of complete information on wet thermal comfort of textile and technological elements to be consider while constructing protective apparel.
Design/methodology/approach
This paper aims to critically review studies on the thermal comfort of textiles in wet conditions and assess the results to guide future research.
Findings
Several recent studies focused on wet textiles' impact on comfort. Moisture reduces the fabric's thermal insulation value while also altering its moisture characteristics. Moisture and heat conductivity were linked. Sweat and other factors impact fabric comfort. So, while evaluating a fabric's comfort, consider both external and inside moisture.
Originality/value
The systematic literature review in this research focuses on wet thermal comfort and technological elements to consider while constructing protective apparel.
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