Search results

Literature has pointed that conventional financial development theories have inconclusive role on motivating new businesses. New ventures often consider the conventional system that passes through risk and provides fixed-interest lending as a burden. Comparatively, Islamic finance contributes using participative and equitable substitute for startups and has a potential in promoting new businesses. This study aims to investigate the holistic financial development index quadratic effect on entrepreneurship and include the moderating role of Islamic financing at national level.

Islamic banks of 21 nations constitute the unbalanced panel data. Financial development and entrepreneurship indices were developed using factor analysis and panel median regression to estimate the nonlinear financial market development effects and Islamic financing moderation model.

The results indicated that low financial market development is entrepreneurship deterring because of interest burden effect, which could be eased with a proportional increase in the Islamic financing, which is participative. The moderating effect has led to the categorization of the sample countries into entrepreneurship promoting and entrepreneurship discouraging with respect to the current incidence of financial market development and Islamic financing, which can help policymakers in understanding the entrepreneurship promoting combination of financial development and Islamic financing.

Central banks and Shari’ah advisory councils can adopt Islamic financing transition in the national financial inclusion policy for new business facilitation.

This study is instrumental in exploring the assessment of introducing Islamic financing while developing the financial sector on multidimensional entrepreneurship.

This paper aims to explore how a shared service centre (SSC) is mobilised in a power-dominant context of a Chinese state-owned enterprise (SOE). Specifically, it examines the mobilisation of SSC within this multi-divisional SOE, the role and dynamics of actors involved and the influence of changes in the integrated information system (IIS) during the mobilisation process.

The study follows a qualitative case study methodology. The authors draw on actor-network theory to examine the network and translation processes constructed in mobilising SSC in the chosen SOE. The data sources of this study were collected through semi-structured interviews, observations and documentary reviews.

The mobilisation of SSC is not a linear process but rather a “spiral” interplay through continuous interactions and compromises between human and non-human actors. Power gave the core actor as an orchestrator legitimacy and formality to reduce resistance and obstruction in translation for the mobilisation of SSC. The changes in IIS appear to facilitate the interaction between the heterogeneous actors.

This case study contributes towards understanding the mobilisation of SSC in a power-dominant context by highlighting the impact of changes in IIS and the details of the mobilisation of SSC in terms of the role played by both the individual actors and the technology.

This study provides a broader understanding of the interactions of the heterogeneous actors for mobilising SSC in a power-dominant context. More importantly, the study inspires future research into examining how SSC practices unfold and how the changes in IIS influence the mobilisation of SSC.

The study applies Erving Goffman's (1974) “frame analysis” principles to examine how Sharia governance is practiced in Islamic banks and explores the interaction and strategies adopted by bank managers to influence the decisions of Sharia scholars. The study also aims to identify inherent flaws in the Sharia compliance review system.

The study employs the principles of Goffman as a lens to critically analyse a rich dataset obtained through interviews undertaken with 46 key players operating in the governance framework of the Malaysian Islamic banking industry due to its progressive Islamic governance framework.

The study demonstrates that managers of Islamic banks may engage in “passing” and “covering” strategies while interacting within the governance structure. Concurrently, Sharia boards (SBs) implement “protective practices” during their interactions, adding complexity to their responsibilities within the banks. Consequently, SBs cannot merely be viewed as instruments for legitimising banking operations. This raises questions about the “impression management,” “concealment” and “competence” strategies employed by managers and SB members, as suggested by Goffman's framework. These findings indicate that there is room for further enhancement in the governance practices of Islamic banks.

Future research could explore aspects related to the governance of Islamic banks, such as investigating the independence and effectiveness of internal Sharia officers. Examining the strategies employed during their interactions with external Sharia boards and other stakeholders could provide further valuable insights.

By highlighting shortcomings in the governance and compliance review process, the findings could serve as a valuable resource for policymakers. The insights derived could inform the development of regulations aimed at reducing opportunistic behaviour and promoting accountability in the Islamic banking sector.

This study uniquely employs Goffman's concepts of “frontstage” and “backstage” strategies to offer insights into the interactions between Islamic bank managers and SBs and the impact of these interactions on Sharia compliance. The study contributes to the understanding of the dynamics between key players in the governance of Islamic banks and the factors influencing their adherence to Sharia principles.

This paper empirically investigates the relationship between financial availability and crime by measuring it across five dimensions: banking, securities, insurance, private lending and digital inclusive finance.

The study utilizes 2011–2017 data from prefecture-level cities as a representative sample. Moreover, these findings remain robust after addressing endogeneity through the use of the historical distance between cities and the railroad network as an instrumental variable.

The findings demonstrate a significant negative relationship between financial accessibility and crime rates. Heterogeneity exists in the inhibitory effect of different types of financial accessibility on crime, with banking finance exhibiting a stronger inhibitory effect compared to private lending. Areas affected by natural disasters and infectious diseases exhibit a stronger inhibitory effect of financial accessibility on crime rates, particularly in areas with severe shocks of natural disasters and epidemics. This effect is attributed to the low financing threshold and easy access to private lending, which plays a more effective role than bank finance when people face extreme risks.

There should be stricter regulations imposed on private lending markets and the introduction of more rational legislation aimed at guiding a healthy development within these markets; such measures serve as effective and complementary means for individuals from all walks of life to access credit financing.

The regulation of financial resources by the government should always prioritize ensuring the accessibility of financial policies to cater to the needs of the majority population.

This study is for the first time in an emerging economy context, the causal relationship between financial accessibility and crime. To provide a more comprehensive measure of financial accessibility in a region, this paper proposes a five-dimensional methodology.

This study aims to develop a conceptual framework for the role of chief financial officer (CFO) in an ever-changing environment. As previous research focused on responding to specific crises, there have been theoretical and practical gaps in the role of CFO. The study's goal is to fill a critical gap by developing a comprehensive and integrated set of roles to assist the CFO in a constantly changing environment.

Using a grounded theory approach, semi-structured interviews and observations were conducted with 21 CFOs from various industries in Thailand, including foreign multinational corporations and domestic companies with international operations. CFOs were asked how they frame their roles in the face of an ever-changing environment and how they prepare for the future.

The iCFO model is developed, which identifies the critical “core” roles of the CFO in securing the business foundation, as well as the “future opportunities” roles that function as growth engines for long-term business strength. The research delves into the importance of integrity, ethical mindset and corporate governance in the role of the CFO. The iCFO model is designed to help guide future research and provide practical applications for CFOs in both domestic and international contexts. The term “core” refers to the CFO’s primary responsibilities, which include driving profitability, managing risks and optimizing business performance. The “future opportunities” component focuses on the roles that CFOs can play in strengthening the future of business by optimizing investment efficiency, driving digital transformation and being the CEO’s business partner. The findings also emphasized “integrity,” which must encompass all decisions, actions or recommendations made by the CFO.

The study offers unique perspectives on an emerging economy, providing new insights. Through interviews with 21 CFOs, it contributes empirical evidence on the development of roles in accounting and finance, emphasizing good governance practices. The findings highlight the integrated role of the CFO and their self-reflection on their value within the company. Significantly, the study's implications are relevant and applicable to a global audience, particularly in developing economies that prioritize growth. Future studies could incorporate integrated thinking into the iCFO model to address social, environmental and economic factors, making it more universally relevant. Additionally, exploring the adoption of the chief value officer context in developing markets could enable CFOs to expand their focus beyond financial metrics, embracing a comprehensive approach to value creation. By integrating these concepts into the iCFO model, CFOs can effectively drive sustainable and impactful business outcomes on a global scale.

The authors investigate the role of financial literacy in influencing the relationship between human capital and social capital, with access to finance of micro, small and medium enterprises (MSMEs).

Data were gathered from 337 MSMEs in Brunei Darussalam, and analysis on the data was carried out using a number of statistical methods. The relationships between human capital, social capital, financial literacy and access to finance were analyzed using PLS-SEM.

The results show that human capital does influence access to finance but contrary to previous studies, the influence is negative. Financial literacy is an important element in the relationship between human capital, social capital and access to finance, although it plays a greater role in the relationship between social capital and access to finance. Further analysis shows that financial knowledge is significant in moderating the relationships between human and social capital with access to finance. Financial skills is found to only moderate the relationship between social capital and access to finance.

To the authors' knowledge, this study is the first that integrates the human capital, social capital, financial literacy and access to finance in a single model. The authors also highlight the importance of enhancing the financial literacy of MSMEs so that the problem of access to finance can be alleviated, especially in developing countries.

Know your customer (KYC), accounting standards, issuance, clearing, and trade settlement became the major barrier to implement accounting, accountability and assurance process in supply chain finance (SCF). Blockchain technology features have the potential to solve accounting problems. This research focuses on exploring how blockchain technology provides solutions to overcome the barriers of accounting process in SCF. The benefits, opportunities, costs and risks related to blockchain adoption are also explored.

Multi-case study and qualitative methods are used with a framework based on blockchain role to overcome the accounting process barriers. Ten blockchain projects in SCF and 29 interviews of participants as a unit of analysis are considered.

The findings indicate that blockchain technology offers solutions to solve accounting, accountability and assurance problems in SCF. Validity, verification, smart contracts, automation and enduring data on trade transactions potentially solve those barriers. However, it is also necessary to consider costs such as implementation, technology, education and integration costs. Then there are possible risks such as regulatory compliance, operational, code development and scalability risk. This finding reflects the current status of blockchain technology roles in SCF.

This study unveils blockchain's SCF accounting potential, emphasizing multi-case method limitations and future research prospects. Diverse contexts challenge findings' applicability, warranting cross-industry studies for deeper insights. Addressing selection bias and integrating quantitative measures can enhance understanding of blockchain's accounting impact.

Accounting professionals can get an idea of the future direction and impact of blockchain technology on accounting, accountability and assurance processes.

This study provides initial findings on the potential, costs and risks of blockchain that is beneficial for parties involved in SCF, especially for banks and insurance underwriters. In addition, the findings also provide direction for the contribution of blockchain technology to accounting theory in the future.

This study aims to examine how the legitimacy of internal auditing is reconstructed during enterprise resource planning (ERP)-driven technological change.

The study is based on the comparative analysis of internal auditing and its transformation due to ERP implementations at two case firms operating in the food sector in Egypt – one a major Egyptian multinational corporation (MNC) and the other a major domestic company (DC).

Internal auditors (IAs) at MNC saw ERP implementation as an opportunity to reconstruct the legitimacy of internal auditing work by engaging and partnering with actors involved with the ERP change. In doing so, the IAs acquired system certifications and provided line functions and external auditors with data-driven business insights. The “practical coping mechanism” adopted by the IAs led to the acceptance (and legitimacy) of their work. In contrast, IAs at DC adopted a purposeful strategy of disengaging, blaming and rejecting since they were skeptical of the top management team's (TMT's) sincerity. The “disinterestedness” led to the loss of legitimacy in the eyes of the stakeholders.

The article offers two contributions. First, it extends the literature by highlighting a spectrum of behavior displayed by IAs (coping with impending issues vs strategic purposefulness) during ERP-driven technological change. Second, the article contributes to the literature on legitimacy by highlighting four intertwined micro-processes – participating, socializing, learning and role-forging – that contribute to reconstructing the legitimacy of internal auditing.

Micro-finance has a significant role in the better performance of micro, small and medium enterprises (MSMEs). This study aims to provide a comprehensive picture of the existing literature on the role of micro-finance and its approaches in MSMEs.

This work performs a bibliometric analysis using a data set of 631 articles collected from the Scopus database. The Bibliometrix R package and Vosviewer are used to conduct performance analysis and scientific mapping. Performance analysis shows the publication trend, key authors, journals and top influential articles. Science mapping through a bibliographic coupling network of documents is prepared to discover the intellectual structure of the field.

This review has identified the four major themes: access to finance and schemes, women empowerment and poverty alleviation, the performance of micro-finance institutions and recent development in micro-financial institutions. With the help of these research themes, the paper also highlights future research agendas.

This paper enriches the understanding of the role of micro-finance services in performance of entrepreneurship with the bibliometric review of top contributors.

This paper aims to analyse the Financial Intelligence Units (FIUs) of Canada, Australia, The Netherlands and India, focussing on key internal and external processes, such as the exchange of information, operations and compliance with Financial Action Task Force (FATF) recommendations. The paper relies on secondary sources to compare and assess the practices and strategies employed by FIUs within these jurisdictions.

The paper relies on secondary sources to compare and assess the practices and strategies used by FIUs within these jurisdictions.

The ability to combat money laundering and the financing of terrorism (AML/CFT) in countries is influenced by several internal and external factors, including the efficiency of their FIUs’ and compliance with FATF recommendations. The analysis of FIUs across the countries demonstrates a raft of multifaceted challenges and concerns. Yet, when it comes to compliance with FATF’s recommendations, shared concerns emerge, hinting at the complex interplay between country-specific operations and global compliance standards. The paper recommends enhancements to the FIUs’ operational efficiency and overall effectiveness in combating financial crimes.

The paper’s findings are limited to openly available data (such as annual reports and internet sources) for the respective countries. The paper relies on the transparency of FIUs through public media, focusing on comparing and analysing the FIUs of only four specific countries, which limits the generalisations of the findings.

This paper is significant for policymakers and FIU authorities, as they strive to improve the effectiveness of their units and assess their performance in alignment with international standards. The comparative analysis of the FIUs of India, Australia, Canada and The Netherlands provides valuable insights and recommendations that can inform policymakers and operational strategies towards enhancing how FIUs function globally.

This paper offers a unique comparative analysis of the FIUs of India, Australia, Canada and The Netherlands. Its findings have practical implications for policymakers and FIU authorities towards enhancing performance against international AML/CFT standards and promoting global cooperation.