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Article
Publication date: 26 April 2023

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.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Open Access
Article
Publication date: 22 August 2023

Kausar Yasmeen

The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses…

2005

Abstract

Purpose

The objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses the Islamic perspectives on minimum wage and examines contemporary challenges and intricacies in its application.

Design/methodology/approach

This study uses thematic analysis to create the conceptual framework, drawing upon a review of pertinent literature such as academic papers, books and articles published up to 2023.

Findings

The framework encompasses various categories, namely, employee characteristics, job characteristics, market factors, compensation practices and Islamic principles. Each category consists of multiple variables. The resulting framework offers a holistic and ethically grounded methodology for wage determination, aligning with both Islamic and conventional perspectives. This study notes the absence of a universally agreed-upon minimum wage. Islamic economics faces challenges due to the unclear application of principles, limited awareness, legal constraints and a lack of empirical evidence on wage systems, along with complexities in their implementation.

Research limitations/implications

The paper’s limited scope focuses solely on the Islamic perspective on wage determination, without comparing it to the conventional viewpoint. This may have implications for future research.

Practical implications

The insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.

Originality/value

This study is distinct in its integration of various factors to propose an all-encompassing framework for wage determination, rooted in the Quran and principles, while also reinforcing the framework with conventional theories. Additionally, it adds to the growing body of literature by investigating the Quran’s stance and principles on minimum wage, as well as discusses the challenges involved in implementing an Islamic approach to wage determination, which has received limited attention in Islamic literature.

Details

Islamic Economic Studies, vol. 31 no. 1/2
Type: Research Article
ISSN: 1319-1616

Keywords

Open Access
Article
Publication date: 23 November 2023

Chi Zhang

This paper aims to establish a theoretical framework that can comprehensively explain the executive compensation in state-owned enterprises (SOEs) within the context of socialism…

Abstract

Purpose

This paper aims to establish a theoretical framework that can comprehensively explain the executive compensation in state-owned enterprises (SOEs) within the context of socialism with Chinese characteristics.

Design/methodology/approach

The author develops a theoretical framework for executive compensation in SOEs from the perspective of Marxist economics and points out that the executives in SOEs are engaged in management labor, and their compensation should adhere to the principle of distribution according to labor contribution.

Findings

Based on this theory, the author posits that the continuous upward trend of executive compensation in SOEs, is consistent with the trend of SOEs' ongoing expansion, which reflects a continuous improvement of SOE executives' management labor in both quality and quantity.

Originality/value

It is necessary to start with Marxist economic theory and scientifically study the issue of SOE executive compensation, adhere to the principle of distribution according to work in the context of a socialist market economy and implement the specific guideline of the Party Central Committee; only in this way can the long-term healthy development of SOEs be promoted continuously.

Article
Publication date: 18 August 2022

Hafas Furqani and Mohamed Aslam Haneef

This paper aims to investigate the subject matter of Islamic economics that will be the object of a study as a discipline by classifying and unifying different approaches proposed…

Abstract

Purpose

This paper aims to investigate the subject matter of Islamic economics that will be the object of a study as a discipline by classifying and unifying different approaches proposed by Islamic economists.

Design/methodology/approach

The paper is a conceptual paper using discursive analysis analysing the perspective and approaches proposed by Islamic economists in defining economic problems from an Islamic perspective. The perspective and approaches proposed are classified and analysed for their implications in constructing the subject matter of discipline.

Findings

Islamic economics, as a new body of knowledge, needs to clarify the economic problems that will be its subject matter. The paper brings an insight into the subject matter of Islamic economics as conceived by scholars in two approaches, namely, economic problems “as they are” and economic problems “as they should be”. The paper also proposes a unified perspective in defining the subject matter of Islamic economics for further development of the discipline.

Research limitations/implications

This paper only provides philosophical guidance for researchers in mapping the problems and the goals of the policy being studied, although it does not offer any practical use for policymaking as each policy is faced with different and specific cases. This paper may be used to assist future researchers in shaping other unexplored fields in Islamic economics as a body of knowledge.

Practical implications

Islamic economics as a discipline will be strengthened if it has a clear subject matter that will be the object of study. However, the conception of economic problems proposed by Islamic economists is based on life-reality, i.e. of what human beings face in their life (practical-type economic problems as they are) and based on life guidance from the Qur’an on how human beings should live as well as life-objectives, i.e. of what goals he should strive for (ideal-type economic problems as they ought to be) brings implication that there are differences in determining the object of study of Islamic economics.

Originality/value

This paper promotes the unification of two conceptions of economic problems proposed by scholars by defining Islamic economics as “a study of resource appropriation to realize human well-being (maslahah)”. This suggests that economic problems as manifested in life reality will be studied within the grand objective of life in Islam (maqasid al-Shariah), and economic problems as perceived in life goals will be studied in the context of life reality. Islamic economic theory will be formulated not only to solve the apparent problem of “what is” but also formulated in a way that refers to goals (ideals) of “what ought to be” that will provide solutions to current economic problems according to certain vision and to take steps to move in that visionary direction.

Details

International Journal of Ethics and Systems, vol. 39 no. 4
Type: Research Article
ISSN: 2514-9369

Keywords

Open Access
Article
Publication date: 6 December 2023

Binh Tran-Nam, Cuong Le-Van, Van Pham-Hoang and Thai-Ha Le

Abstract

Details

Fulbright Review of Economics and Policy, vol. 3 no. 2
Type: Research Article
ISSN: 2635-0173

Article
Publication date: 2 February 2023

Ilias Vlachos and Vasiliki Polichronidou

Third-party logistics providers (3PLs) have significantly evolved during the last decades, yet their role within a supply chain triad has been overlooked; this study examines…

Abstract

Purpose

Third-party logistics providers (3PLs) have significantly evolved during the last decades, yet their role within a supply chain triad has been overlooked; this study examines empirically the 3PLs' role using four established theories: resource-based view, social capital perspective, agency theory and transaction cost economics.

Design/methodology/approach

This study examines the role of 3PLs in four supply chain triads, using the case study approach. Sources of evidence include interviews and secondary data.

Findings

The 3PL had different roles in multi-demand triads as service developer, customer adaptor and customer developer. The 3PL, by offering advanced services, became a service developer. The 3PL as a customer adaptor offered customised services and gain the client's trust. As a customer developer, the 3PL acted on behalf of its client in expanding its operations and meeting competitive needs.

Research limitations/implications

The results of the case study methodology can only be generalised to similar types of 3PL. Supply chain triads are an emerging research field; theories like the resource-based view and transaction cost economics are established in the dyadic context and require further elaboration when applied in triadic contexts.

Practical implications

The findings provide practical insights into the role that 3PL can play in supply chain triads, how they can upgrade their role by long-range planning and extending their services to create supply chain efficiency.

Social implications

Understanding the 3PL's role in triads can improve how companies and economies respond to crises like the recent pandemic outbreak.

Originality/value

It uncovers three different 3PL roles in supply chain triads by using four established theories.

Details

The International Journal of Logistics Management, vol. 35 no. 1
Type: Research Article
ISSN: 0957-4093

Keywords

Article
Publication date: 21 February 2024

Nicolas Aubert, Miguel Cordova and Gonzalo Hernandez

This study aims to investigate how a French multinational enterprise (MNE) is developing employee stock ownership (ESO) in its subsidiaries in Peru and Mexico, both Latin American…

Abstract

Purpose

This study aims to investigate how a French multinational enterprise (MNE) is developing employee stock ownership (ESO) in its subsidiaries in Peru and Mexico, both Latin American countries with deep social and economic inequalities.

Design/methodology/approach

This is a qualitative case study which conducted interviews with representatives of the French MNE and its subsidiaries in Peru and Mexico.

Findings

The employee stock purchase plans offered by the company to its employees support the achievement of the sustainable development goals (SDGs) 1, 8 and 10 in these countries.

Social implications

The authors argue that MNEs could become flagships in the SDG achievement in emerging economies.

Originality/value

By contributing to better workplace outcomes and enhanced corporate performance, ESO is in line with SDG 8. ESO also fulfills SDGs 1 and 10 by allowing employees to build up savings and wealth, whose lack is the main source of inequality and poverty. Reciprocity and binary economics theories explain these relationships.

Details

Critical Perspectives on International Business, vol. 20 no. 2
Type: Research Article
ISSN: 1742-2043

Keywords

Article
Publication date: 28 November 2022

Prateek Kumar Tripathi, Chandra Kant Singh, Rakesh Singh and Arun Kumar Deshmukh

In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus. However, this…

Abstract

Purpose

In a volatile agricultural postharvest market, producers require more personalized information about market dynamics for informed decisions on the marketed surplus. However, this adaptive strategy fails to benefit them if the selection of a computational price predictive model to disseminate information on the market outlook is not efficient, and the associated risk of perishability, and storage cost factor are not assumed against the seemingly favourable market behaviour. Consequently, the decision of whether to store or sell at the time of crop harvest is a perennial dilemma to solve. With the intent of addressing this challenge for agricultural producers, the study is focused on designing an agricultural decision support system (ADSS) to suggest a favourable marketing strategy to crop producers.

Design/methodology/approach

The present study is guided by an eclectic theoretical perspective from supply chain literature that included agency theory, transaction cost theory, organizational information processing theory and opportunity cost theory in revenue risk management. The paper models a structured iterative algorithmic framework that leverages the forecasting capacity of different time series and machine learning models, considering the effect of influencing factors on agricultural price movement for better forecasting predictability against market variability or dynamics. It also attempts to formulate an integrated risk management framework for effective sales planning decisions that factors in the associated costs of storage, rental and physical loss until the surplus is held for expected returns.

Findings

Empirical demonstration of the model was simulated on the dynamic markets of tomatoes, onions and potatoes in a north Indian region. The study results endorse that farmer-centric post-harvest information intelligence assists crop producers in the strategic sales planning of their produce, and also vigorously promotes that the effectiveness of decision making is contingent upon the selection of the best predictive model for every future market event.

Practical implications

As a policy implication, the proposed ADSS addresses the pressing need for a robust marketing support system for the socio-economic welfare of farming communities grappling with distress sales, and low remunerative returns.

Originality/value

Based on the extant literature studied, there is no such study that pays personalized attention to agricultural producers, enabling them to make a profitable sales decision against the volatile post-harvest market scenario. The present research is an attempt to fill that gap with the scope of addressing crop producer's ubiquitous dilemma of whether to sell or store at the time of harvesting. Besides, an eclectic and iterative style of predictive modelling has also a limited implication in the agricultural supply chain based on the literature; however, it is found to be a more efficient practice to function in a dynamic market outlook.

Article
Publication date: 9 January 2023

Leilei Shi, Xinshuai Guo, Andrea Fenu and Bing-Hong Wang

This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market…

577

Abstract

Purpose

This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market equilibrium price, in which traders' momentum, reversal and interactive behaviors play roles.

Design/methodology/approach

The authors select intraday cumulative trading volume distribution over price as revealed preferences. An equilibrium price is a price at which the corresponding cumulative trading volume achieves the maximum value. Based on the existence of the equilibrium in social finance, the authors propose a testable interacting traders' preference hypothesis without imposing the invariance criterion of rational choices. Interactively coherent preferences signify the choices subject to interactive invariance over price.

Findings

The authors find that interactive trading choices generate a constant frequency over price and intraday dynamic market equilibrium in a tug-of-war between momentum and reversal traders. The authors explain the market equilibrium through interactive, momentum and reversal traders. The intelligent interactive trading preferences are coherent and account for local dynamic market equilibrium, holistic dynamic market disequilibrium and the nonlinear and non-monotone V-shaped probability of selling over profit (BH curves).

Research limitations/implications

The authors will understand investors' behaviors and dynamic markets through more empirical execution in the future, suggesting a unified theory available in social finance.

Practical implications

The authors can apply the subjects' intelligent behaviors to artificial intelligence (AI), deep learning and financial technology.

Social implications

Understanding the behavior of interacting individuals or units will help social risk management beyond the frontiers of the financial market, such as governance in an organization, social violence in a country and COVID-19 pandemics worldwide.

Originality/value

It uncovers subjects' intelligent interactively trading behaviors.

Details

China Finance Review International, vol. 13 no. 4
Type: Research Article
ISSN: 2044-1398

Keywords

Article
Publication date: 27 July 2022

Ela Ozkan-Canbolat, Gulberk Ozkan and Aydin Beraha

This paper aims to show that evolutionary game theory not only provides a general and unified theory of political philosophy and strategic management theories but also a positive…

Abstract

Purpose

This paper aims to show that evolutionary game theory not only provides a general and unified theory of political philosophy and strategic management theories but also a positive theory of interactive behavior.

Design/methodology/approach

This study suggests a way of the evolutionary game-theoretical model.

Findings

The model presented in this paper demonstrates coopetition is derived from balance points in multi-actor games. As the political–philosophical address of those strategic games will of all becomes convention in this balance point at which common knowledge occurs global optimum.

Research limitations/implications

This study explores the connections between several streams in philosophy and strategic management. What does a particular philosophy contribute to strategic management with respect to game theory? When addressing this question in historical or exploratory terms, or in a combination of both, the end result is similar: particular philosophical issues, properly explained, are discussed in relation to important questions in strategic management.

Practical implications

What are the psychological and behavioral underpinnings of strategic decisions of this kind? What type of cognitive frames and managerial mental models, such as the game-theoretical model, might enable or hinder the integration of real-world problems in strategic decision-making?

Social implications

What explains the evolution of such mental models, as well as the development of philosophical ideas, in informing the origins? How does the evolution of social and political contexts influence change in the cognitive and behavioral underpinnings of strategic decision-making?

Originality/value

This study highlights the overt power of strategic management ideas – competition, cooperation and coopetition – which have historically been built on the foundations of organizational theory, while also underlying the potential of philosophies, collective wisdom and Condorcet’s jury theorem and Rousseau’s (1998) correctness theory in games of evaluation. This study investigates whether the many produce better decisions than the wise few.

Details

Journal of Modelling in Management, vol. 18 no. 5
Type: Research Article
ISSN: 1746-5664

Keywords

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