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The purpose of this study is to examine the effects of financial development on the economic growth of jurisdictions with systemically important Islamic finance.
Abstract
Purpose
The purpose of this study is to examine the effects of financial development on the economic growth of jurisdictions with systemically important Islamic finance.
Design/methodology/approach
The authors use several estimation methods. The primary analysis is based on the LSDVC method using a sample of 23 countries covering the period of 2000–2019.
Findings
The findings suggest that the financial sector may not be a significant factor in determining economic growth, or that it may decrease it depending on the proxy used. These results are in line with recent studies and robust across different estimation specifications and methods used.
Practical implications
Finance practitioners may reconsider the way they conduct their daily activities as their impact on economic growth is fading away. Similarly, policymakers should consider the role that financial development plays in economic growth alongside other factors that may influence its impact. It may be necessary to examine the moderating effects of institutional development on the relationship between finance and growth and consider the channels through which financial development can contribute to economic growth. Additionally, it would be useful to study the impact of Islamic finance on economic growth using different data sources.
Originality/value
Although the topic has been explored using different data sets and focusing on different samples, it has not been explored considering the impact of Islamic finance development on economic growth. Given the global appeal of the Islamic finance industry, it is worth investigating its significance for economic growth.
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This paper aims to reexamine the relationship between financial openness and financial development in Ghana.
Abstract
Purpose
This paper aims to reexamine the relationship between financial openness and financial development in Ghana.
Design/methodology/approach
The study applied maximum likelihood estimation and autoregressive distributed lag approach and tested Granger causality using quarterly data from 1990:1 to 2020:4.
Findings
This study revealed a long-run equilibrium relationship between financial openness and development, indicating that financial openness is a critical factor in Ghana’s financial development. Therefore, the study recommends with caution that policies aimed at promoting financial openness could be an effective way to encourage sustainable financial development in Ghana, as financial openness alone may not bring the desired outcome.
Research limitations/implications
The study contributes to the existing body of knowledge by providing empirical evidence of the link between financial openness and financial sector development in Ghana. Future research could delve deeper into the mechanisms through which financial openness affects financial development, exploring potential channels and transmission mechanisms.
Practical implications
The findings suggest that policymakers, particularly the Ministry of Finance and the Bank of Ghana, should prioritize policies aimed at promoting financial openness. This includes continued efforts toward financial liberalization and creating an environment conducive to domestic and international financial transactions. Moreover, policies aimed at increasing trade openness, boosting real GDP and maintaining moderate real interest rates are essential for fostering financial sector development.
Social implications
Enhancing financial sector development can have significant implications for society, including increased access to financial services, improved economic opportunities and enhanced overall economic stability. By promoting financial openness and development, policymakers would contribute to poverty reduction, job creation and overall socio-economic development. The study bridges the gap between theory and practice by providing empirical evidence supporting the theoretical proposition that financial openness stimulates financial sector development.
Originality/value
This study fills a crucial gap in the literature on the effects of financial openness on Ghana’s financial sector development. It focuses on Ghana, which liberalized its financial sector in 1988 as part of the overall economic reforms in 1983, and this justifies the starting point of this paper in 1990, as there are no adequate data before 1990. The study uses principal component analysis to construct an index that measures financial development. The study considers the recent financial crises in Ghana in 2017 and underscores the importance of understanding the link between financial openness and financial development, which becomes useful for policymakers and researchers studying financial system development in sub-Saharan Africa which includes Ghana.
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Fernando Belezas and Ana Daniel
Pandemics are a serious challenge for humanity, as their social and economic impacts can be tremendous. This study aims to understand how innovation based in the sharing economy…
Abstract
Purpose
Pandemics are a serious challenge for humanity, as their social and economic impacts can be tremendous. This study aims to understand how innovation based in the sharing economy (SE) business models can contribute to overcoming the challenges arising from the Covid-19 pandemic.
Design/methodology/approach
Following a netnographic approach, the authors studied the computer-mediated social interactions of internet-based virtual innovation communities.
Findings
This study found that the SE business models contribute to overcome the challenges of the Covid-19 pandemic by redistributing idle resources to lessen the impacts of confinement. This was achieved through process innovations and an innovative use of the network, which enabled fast-open and decentralized innovation processes, and quick implementation of innovations. This innovation process is based on a decentralized decision-making approach, clear rules, informal relationship among community members and open communication channels, as well as in evasive strategies to avoid facing challenges, institutional restrictions and barriers in the adoption of innovations.
Research limitations/implications
This study was limited to a virtual innovation community of highly specialized and educated experts and nine community projects focused on institutional contexts of a developed country. Future research should focus on the institutional contexts of less specialized communities and developing countries and study other community innovation projects in pandemics to understand the processes of fast-open, decentralized and evasive innovation and the importance of relational capabilities for innovation in digital contexts.
Practical implications
The findings can guide innovation managers and public policymakers in implementing effective strategies and policies to overcome pandemic challenges using SE business models. This research also provides important insights into the types and processes of innovation in organizations that create solutions to overcome social and business challenges during pandemics. In addition, this study highlights the contributions of netnographic approaches to conducting research on innovation and in pandemic periods when measures of confinement are in place.
Originality/value
This study uses an innovative framework to map the types of innovation and highlights two different types of innovation processes.
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Heeseung Yu, Yuhosua Ryoo and Eunkyoung Han
In the face of increasing political polarization worldwide, this study explores whether people create biased perceptions of political knowledge and how this affects their…
Abstract
Purpose
In the face of increasing political polarization worldwide, this study explores whether people create biased perceptions of political knowledge and how this affects their selection and evaluation of political content on YouTube.
Design/methodology/approach
For this study, an online experiment was conducted with 441 panels of South Korean respondents. In the first phase, participants answered 10 questions designed to capture their level of objective political knowledge, and for each question, they indicated whether they had responded to that question correctly as a means of measuring their subjective political knowledge. In the second phase, two types of YouTube thumbnails were presented to represent progressive and conservative claims on two controversial political issues, and participants rated and selected the content they would like to see.
Findings
Participants with low political knowledge perceived their knowledge as more than it really was. In contrast, participants with high political knowledge perceived their political knowledge as less than it really was. This biased perception of political knowledge influences respondents' choice and evaluation of political YouTube channel videos.
Originality/value
At a time when political polarization is increasing around the world, this study sought to explore how perceptions of political knowledge differ from actual political knowledge by applying the Dunning-Kruger effect. The authors also used political YouTube channels, whose role in forming public opinion and political influence is rapidly growing, to study the behavior and attitudes of a group of Korean respondents in the media according to their actual and perceived level of political literacy.
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Nadia Arshad, Rotem Shneor and Adele Berndt
Crowdfunding is an increasingly popular channel for project fundraising for entrepreneurial ventures. Such efforts require fundraisers to develop and manage a crowdfunding…
Abstract
Purpose
Crowdfunding is an increasingly popular channel for project fundraising for entrepreneurial ventures. Such efforts require fundraisers to develop and manage a crowdfunding campaign over a period of time and several stages. Thus, the authors aim to identify the stages fundraisers go through in their crowdfunding campaign process and how their engagement evolves throughout this process.
Design/methodology/approach
Following a multiple case study research design analysing six successful campaigns, the current study suggests a taxonomy of stages the fundraisers go through in their crowdfunding campaign management process while identifying the types of engagement displayed and their relative intensity at each of these stages.
Findings
The study proposes a five-stage process framework (pre-launch, launch, mid-campaign, conclusion and post-campaign), accompanied by a series of propositions outlining the relative intensity of different types of engagement throughout this process. The authors show that engagement levels appear with high intensity at pre-launch, and to a lesser degree also at the post-launch stage while showing low intensity at the stages in between them. More specifically, cognitive and behavioural engagement are most prominent at the pre- and post-launch stages. Emotional engagement is highest during the launch, mid-launch and conclusion stages. And social engagement maintains moderate levels of intensity throughout the process.
Originality/value
This study focuses on the campaign process using engagement theory, thus identifying the differing engagement patterns throughout the dynamic crowdfunding campaign management process, not just in one part.
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Wahyu Jatmiko, Banu Muhammad Haidlir, A. Azizon, Bambang Shergi Laksmono and Rahmatina Kasri
The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the…
Abstract
Purpose
The proponents of cash waqf speak highly about its huge potential for mobilizing the third sector of the economy to fund the socio-economic development agenda. However, the under-collection issue has been characterizing the cash waqf movement globally. This study aims to examine how understanding the distinct cash waqf donating behavior across different generations has the potential to address the problem.
Design/methodology/approach
This study extends the theory of planned behavior by adding religiosity and knowledge variables into the standard model, using the partial least square structural equation modeling. A survey is conducted on 684 respondents representing the main provinces in Indonesia and four major generations (Baby Boomers [BB], Generations X, Y and Z).
Findings
Religiosity, Knowledge, Attitude, Subjective Norms and Perceived Behavioral Control directly or indirectly affect cash waqf intention. The effect is contingent on the characteristics of generations.
Research limitations/implications
This study covers only the Indonesian case with limited coverage of the more heterogeneous provinces in the country. The sample distribution for BB can also be enlarged.
Practical implications
Cash waqf institutions (government and private) should apply the dynamic segmenting strategy, where the diversification of the promotion, marketing, awareness and approaches are contingent on the different characteristics of each generation.
Originality/value
To the best of the authors’ knowledge, this is the first study evaluating the intergenerational determinants of Intention toward cash waqf, particularly in Indonesia.
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The purpose of the study is to assess if a policy of female inclusive education should be complemented with a policy of female ownership of bank accounts to fight female…
Abstract
Purpose
The purpose of the study is to assess if a policy of female inclusive education should be complemented with a policy of female ownership of bank accounts to fight female unemployment. The study therefore examines how female ownership of bank accounts moderates the incidence of female education on female unemployment.
Design/methodology/approach
The focus is on 44 sub-Saharan African (SSA) countries for the period 2004–2018 and the empirical evidence is based on interactive quantile regressions. The interactions are tailored such that female ownership of bank accounts influences the effect of female inclusive education on female unemployment.
Findings
From the empirical findings it is evident that female ownership of bank accounts does not effectively moderate female education in order to reduce female unemployment unless complementary policies are considered. The complementary policies should be in view of boosting the interaction between female education and female bank account ownership in increasing employment opportunities for the female gender and by extension, reducing female unemployment. The invalidity of the moderating effect is robust to the inclusion of more elements in the conditioning information set as well as accounting for other dimensions of endogeneity such as simultaneity and the unobserved heterogeneity. Policy implications are discussed.
Originality/value
This study contributes to the extant literature by assessing how female ownership of bank accounts complements female inclusive education to reduce female unemployment.
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Ting Deng, Chunyong Tang and Yanzhao Lai
Drawing upon the conservation of resources (COR) theory, this study examined the relationship between organizational developmental human resource (HR) practices and employees'…
Abstract
Purpose
Drawing upon the conservation of resources (COR) theory, this study examined the relationship between organizational developmental human resource (HR) practices and employees' commitment to the organizational career (COC), while considering the mediating role of psychological availability and the moderating effects of links and fit.
Design/methodology/approach
A hierarchical linear modeling analysis was conducted to analyze the data from a 3-wave time-lagged study with 394 employees and 65 supervisors in ten Chinese firms.
Findings
The study's findings suggest that organizational developmental HR practices have a positive and indirect impact on employees' COC, with psychological availability serving as a mediator. The indirect effects were stronger for employees with stronger links and better fit.
Practical implications
This study provides managers with guidelines to improve employees' COC. Managers should also focus on supporting employees' psychological resources. Furthermore, organizations should be aware that employees with varying levels of links and fit may respond differently to psychological availability.
Originality/value
The study offers a new understanding of how and under what conditions organizational developmental HR practices can increase employees' COC. It also highlights the role of psychological availability as the psychological mechanism mediating this relationship and adds to the limited literature on the potential positive impact of strong links and fit.
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Mamadou Sissoko, Veronique Theriault and Melinda Smale
The authors assess the development potential of cowpea beyond grain in local markets in Mali by: (1) identifying trader types and types of cowpea products sold; (2) examining…
Abstract
Purpose
The authors assess the development potential of cowpea beyond grain in local markets in Mali by: (1) identifying trader types and types of cowpea products sold; (2) examining trader roles; (3) estimating gross margins and their determinants; and (4) discussing policy opportunities to further develop the value chain.
Design/methodology/approach
The authors analyze data collected through observation and semi-structured questionnaires from 487 sellers in 26 markets, including market, seller, and product characteristics. The authors also calculate gross margins and conduct a regression analysis to identify influential factors.
Findings
The authors identify several types of cowpea sellers in local markets, including processor-retailers, retailers of fresh leaves and fodder, and grain retailers, collectors and wholesalers. Women dominate the marketing of processed products and fresh leaves. The marketing of boiled cowpeas offers retailers higher margin rates compared to fritters and pancakes. Grain sellers, who are mostly men, have lower margins but sell larger quantities. Processor-retailers bring more value to the cowpea value chain. Specialization of the seller in cowpea, regional location of the market and day of the market fair all influence gross margins.
Research limitations/implications
Future work should explore consumer preferences for different types of cowpea products.
Originality/value
This study of the cowpea value chain in Mali has revealed the multidimensional character of the cowpea plant, which goes far beyond its grain and highlight the important roles played by women.
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Kim Man Erica Lee, Yanto Chandra and Ho Lee
The social venture (SV) is an increasingly popular form of organization to pursue social goals using a commercial approach. Although marketing plays an important role in SV…
Abstract
Purpose
The social venture (SV) is an increasingly popular form of organization to pursue social goals using a commercial approach. Although marketing plays an important role in SV research and a key driver of the performance of SVs, how and the extent to which market conditions play a role remains understudied. This study examines if market turbulence can moderate marketing capabilities and performance relationships.
Design/methodology/approach
The authors developed several hypotheses rooted in the marketing literature and tested them using data collected from a sample of 109 SVs from East Asia (i.e. Hong Kong and Taiwan). Using multiple regression analysis and structural equation modeling, the authors analyzed the marketing capabilities and financial and social performance relationships and the positive moderating role of market turbulence.
Findings
The results suggested that market turbulence is a positive moderator which influences the effect of the marketing capabilities–financial performance relationship, but not the marketing capabilities and social performance relationship.
Originality/value
This paper attempts to interrogate the SV's marketing capabilities–performance relationship in the East Asian context and how market turbulence may enhance or weaken the relationship. This is one of the earliest papers in this research area. The key findings from this research offer valuable theoretical contribution to the study of SV performance.
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