Search results

Bank lending is the major source of monetary expansion. Bank-led money creation is a key issue in both conventional and Islamic financial systems. The purpose of this paper is to examine the issues related to Islamic banking money creation. In this conceptual paper, the authors investigate the involvement of profit and loss sharing (PLS) in money creation and especially how can PLS limit money creation “out of nothing.” In this regard, the authors examine the potential of the PLS principle in tackling the excessive money creation phenomenon.

This study uses a normative approach regarding Islamic bank money creation that fits Sharia directives. In fact, this study discusses “what ought to be,” that is, the values and norms of PLS money creation that impede excessive money creation.

Overall, Islamic banks create money differently compared to conventional ones. Especially, by avoiding a purely financial intermediary, money creation under the PLS principle sustains a strong relationship with the real economy and leads to a lower money multiplier. Therefore, PLS mechanisms allow financing through real assets and not credit assets “out of nothing.” This could prevent excessive money creation from causing harmful effects on indebtedness and financial instability.

PLS offers a valuable resolution for banking system money creation through the optimization of Islamic bank financing by facilitating the separation of the monetary function from the credit one. This reform thought reinforces the stability value of money allowing it to fully perform its functions with reference to the directives of Sharia. This especially allows the integrity and purchasing power of money, the reduction of the gap between the evolution of both real and financial economies and, consequently, the indebtedness and crisis. It is recommended to promote PLS financing by reforming institutional and regulatory constraints.

This study addresses the contemporary issue of money creation by Islamic banks through the PLS approach. The conceptual framework of this paper highlights the reformist role of PLS in limiting money creation through Mudarabah approach within fractional reserve banking.

In this paper the co-authors, educators and organizers working together in a liberatory curriculum development organization (People's Education Movement Chicago), put forth a conceptualization of Critical Race Praxis (CRP) in education as it applies to K-12 curriculum and education writ large. They take Yamamoto's (1997) premise seriously in that they need to spend less time with abstract theorizing and more time in communities experiencing injustice.

The co-authors utilize critical race counterstory methodologies to analyze and (re)tell their experiences building and supporting justice-centered curriculum bound in CRP. In doing so, they share narratives that illuminate their individual and collective experiences navigating the gratuitous violence of white supremacy and other forms of structural oppression, and their work to center justice in and out of K-12 schools.

The findings provide examples of organizational praxes within the tenets of CRP (Conceptual, Material, Performative and Reflexive). For People’s Education Movement Chicago the conceptual conditions of their praxes begin with an intersectional analysis of schooling, education, and life. Within the CRP tenant of the material, the co-authors share experiences that detail their continuous political education and offer seven emergent ways of being and building to bound the material change they seek to create through their work. Next, the co-authors share their insights on the performative tenet, with a focus on curriculum, which creates learning experiences that support people to remember social movements and develop within them the curiosity and agency to act on their findings in ways that center justice and transformation. Finally, the findings related to reflexivity focus on the authors’ internal practices as a collective. The authors place process over product which, as they articulate, is a must if they are to produce a vital harvest for communities they work with and for.

The authors conclude the article with the following offerings useful to P-20 educators, researchers, school administrators and community members advancing more just educational futures: a commitment to the on the groundwork, situating social justice as an experiential phenomenon, the utilization of interdisciplinary approaches, collaborative work and capacity building, and a commitment to self and collective care.

As P-20 teachers, community workers, organizers, caregivers and education scholars of color building together in a K-12 curriculum development organization, the authors suggest that now is the moment to pivot away from the rhetoric of “we don't do CRT” and into work that constructs paths toward praxes bound in the tenets of CRP.

This study aims to examine whether and how the experience of specialized external governance mechanisms mandated by the Employee Retirement Income Security Act of 1974 – the actuary and auditor – affect pension plan funding.

This study uses data from annual pension plan regulatory reports (Form 5500), Form 10-K filings, Form DEF 14A filings (company proxy statements) and publicly available data sources. The hand-collected data include information related to the pension plan’s actuary and auditor and various pension plan data disclosed in the company’s financial statement footnotes.

The author finds that more experienced actuaries and auditors are associated with better funded pension plans, especially when the company has higher financial risk or lower board independence. Additional analyses indicate that companies with more experienced actuaries and pension plan auditors are more likely to make higher annual pension plan contributions and hold fewer Level 3 fair value assets.

The dearth of pension plan governance research generally focuses on whether and how internal governance mechanisms affect pension plan funding. To the best of the author’s knowledge, this is the first empirical study of the relationship between external pension plan governance mechanisms and pension plan funding.

We study the potential effects of pension underfunding on corporate investment, financial constraints and improved employee bonding using 10 Pacific-Basin countries (including the United States, Australia, and eight Asian countries) at heterogeneous economic development stages and different regulatory environments. We document that corporate pensions are significantly underfunded in most countries of our sample in the period of 2001–2017, when interest rates were ultralow in most countries. In addition, firms from countries with stronger employee protection and more generous retirement benefits tend to show higher levels of underfunding in their defined benefit (DB) pension plans. To the extent of pension underfunding imposing constraints on corporate investment, we find that firms in these countries can face more constraints on investment when their pension is underfunded.

This study aims to examine the level of intention to pursue formal nursing leadership roles among millennial nurses and to identify the different factors that may play a role in their intentions to pursue such roles.

This study used a multi-center, cross-sectional research design. Registered nurses born between 1980 and 2000 (n = 1,377) who worked in 23 acute care hospitals in Oman were included in this study. Data were analyzed using descriptive statistics and multiple linear regression. Data were collected between July 2019 and January 2020.

Nearly 70% of millennial nurses researched their intention for career advancement to assume nursing leadership responsibility. Factors associated with nurses’ intention to pursue formal nursing leadership roles were the type of nursing degree held (having a bachelor of science in nursing degree), type of hospital facility affiliation (teaching hospital), previous leadership experience, structural empowerment (access to support, opportunity and resources), work satisfaction and job burnout.

Millennial nurses, who represent the largest segment of the nursing workforce, have begun assuming nursing management and leadership roles; however, little is known about the factors affecting their intentions to pursue these roles. The findings of this study revealed different factors (both modifiable and nonmodifiable) influencing millennial nurses’ intentions to pursue formal leadership roles.

The purpose of this paper is to investigate a variety of Painlevé integrable equations derived from a Hamiltonian equation.

The newly developed Painlevé integrable equations have been handled by using Hirota’s direct method. The authors obtain multiple soliton solutions and other kinds of solutions for these six models.

The developed Hamiltonian models exhibit complete integrability in analogy with the original equation.

The present study is to address these two main motivations: the study of the integrability features and solitons and other useful solutions for the developed equations.

The work introduces six Painlevé-integrable equations developed from a Hamiltonian model.

The work presents useful algorithms for constructing new integrable equations and for handling these equations.

The paper presents an original work with newly developed integrable equations and shows useful findings.

As the economy re-shapes, so too must the modern organization and its governance. We examine corporate governance codes and their limits in predicting an executive’s performance. We look at the Code of Professional Practice of executive search consultants, the in-built factors that have prevented the sector from becoming a qualified profession, and how to move beyond them. We examine how sustainability is migrating to the heart of modern governance, and present eight reasons to change existing codes and a call for tolerant governance. Mining engineer Henri Fayol is considered the founder of corporate governance. Despite dramatic changes in management during the past 100 years, much of his theory still holds. We take a tour of Fayol’s thinking, how management has evolved, and examine the unstructured shape of things to come: an organic architecture, an emphasis on knowledge capital and an agile leadership culture. We conclude with “change ability” – an evolutionary leap for the chair, CFO, supervisory board and organizations as a whole. The executive search profession finally comes under a harsh spotlight. What’s next for the profession, in light of digitization, its representation on boards, its effect on diversity? And why do executive search firms need to walk the sustainability talk in the way they seek and position leaders?

An earlier form of this chapter by the author was published in Dutch in “Bestemming Boardroom: over zoeken en gevonden worden” (Boom, Amsterdam, 2018).

This chapter presents the findings of an extracurricular online beta test of a competition between students of the University of Wales Trinity Saint David and the International University of Malaya-Wales. The competition is intended to promote the concept of harmonious entrepreneurship and the creation of student-led harmonious enterprises that address the global sustainability challenge and deliver a triple bottom line in which profit, people, and planet are in harmony. It reveals that extracurricular learning can attract students from disciplines other than business and can educate the participants, both staff and students, not just about harmonious entrepreneurship but also how to identify and launch an innovative harmonious enterprise that addresses a sustainability challenge. The test identifies how the competition may be improved prior to its global launch and makes recommendations for students, educators, mentors, providers, and universities as to how it might best be implemented. Once revised and launched the competition will be further tested to better understand how extracurricular learning can help advance the delivery of both entrepreneurship and sustainability education in universities and colleges around the globe.

First-generation college students in the United States are a unique demographic that is often characterized by the institutions that serve them with a risk-laden and deficit-based model. However, our analysis of the transcripts of open-ended, semi-structured interviews with 22 “first-gen” respondents suggests they are actively deft, agentic, self-determining parties to processes of identity construction that are both externally imposed and potentially stigmatizing, as well as exemplars of survivance and determination. We deploy a grounded theory approach to an open-coding process, modeled after the extended case method, while viewing our data through a novel synthesis of the dual theoretical lenses of structural and radical/structural symbolic interactionism and intersectional/standpoint feminist traditions, in order to reveal the complex, unfolding, active strategies students used to make sense of their obstacles, successes, co-created identities, and distinctive institutional encounters. We find that contrary to the dictates of prevailing paradigms, identity-building among first-gens is an incremental and bidirectional process through which students actively perceive and engage existing power structures to persist and even thrive amid incredibly trying, challenging, distressing, and even traumatic circumstances. Our findings suggest that successful institutional interventional strategies designed to serve this functionally unique student population (and particularly those tailored to the COVID-moment) would do well to listen deeply to their voices, consider the secondary consequences of “protectionary” policies as potentially more harmful than helpful, and fundamentally, to reexamine the presumption that such students present just institutional risk and vulnerability, but also present a valuable addition to university environments, due to the unique perspective and broader scale of vision their experiences afford them.

Sustainability is viewed as an encompassing perspective, as endorsed by the international policy context, driven by the UN’s Sustainable Development Goals (SDGs). We aim to examine how women entrepreneurs transform capitals to pursue sustainability, and to generate policy insights for sustainability actions through tourism entrepreneurship.

Applying qualitative approach, we have generated empirical evidence drawing on 37 qualitative interviews carried out in Turkey, whereby boundaries between traditional patriarchal forces and progressive movements in gender relations are blurred.

We have generated insights into how women entrepreneurs develop their sustainability practice by transforming their available economic, cultural, social and symbolic capitals in interpreting the macro-field and by developing navigation strategies to pursue sustainability. This transformative process demonstrates how gender roles were performed and negotiated in serving for sustainability pillars.

In this paper, we demonstrate the nature and instrumentality of sustainable tourism entrepreneurship through a gender lens in addressing some of these SDG-driven challenges.

We advance the scholarly and policy debates by bringing gender issues to the forefront, discussing sustainable tourism initiatives from the viewpoint of entrepreneurs and various members of local community and stakeholder in a developing country context where women’s solidarity becomes crucial.