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Previous studies have rarely integrated the financing modes of a capital-constrained manufacturer with the choices of online sales strategies. To address this gap, the authors study how a manufacturer selects optimal financing modes under different sales strategies in three dual-channel supply chains.

This paper considers three sales strategies, namely, combining a traditional retailer channel with one of the direct selling, reselling and agency selling channels, and two common financing modes, namely, bank financing and retailer financing. The authors obtain equilibrium outcomes of the manufacturer and traditional retailer and then provide the conditions for them to select optimal financing modes under three sales strategies.

The results indicate that the manufacturer’s financing decisions rely on the initial capital and interest rates, and the manufacturer selects retailer financing only if the initial capital is relatively larger. In terms of financing mode options, the retailer financing mode is more beneficial for the manufacturer under the three sales strategies. From the perspective of sales strategies, the direct selling model is more beneficial. In addition, the higher the consumer acceptance of the online channel, the more profits the manufacturer obtains.

This paper provides suggestions on how the capital-constrained manufacturer chooses financing modes and sales strategies.

This paper integrates the financing mode and different sales strategies to investigate the manufacturer’s optimal operational decisions. These sales strategies allow us to investigate the manufacturer’s optimal financing modes in the presence of both different financing modes and sales strategies.

The purpose of this paper is to investigate the optimal operational strategies in a green platform supply chain and provide suggestions on the selection of sales and financing modes for the capital-constrained manufacturer.

This study combines different sales channels with financing modes and investigates three sales-financing modes, i.e. traditional sales-prepayment financing (TSPF), traditional sales-bank financing (TSBF) and online sales e-retailer financing (OSEF). By establishing and comparing Stackelberg game models of these sales-financing modes from the perspectives of economy, environment and social welfare, the optimal strategies of emission reduction, financing, pricing and service improvement are obtained.

The results suggest that as the commission rate increases to a certain level, a threshold of the cost coefficient of emission reduction can be found such that the manufacturer should choose OSEF below this threshold and TSBF above this threshold. OSEF is Pareto optimal when this cost coefficient is low, and this mode can lead to the highest social welfare when the platform loan interest rate is relatively low. The Pareto areas in TSBF and OSEF enlarge as the default coefficient decreases.

These results can provide operational insights on how to select sales channels and financing modes when manufacturer faces financial constraints in emission reduction.

This paper combines different sales and financing modes to study their comprehensive influence on the decision-makings of chain members and the resulting performance of economy, environment and social welfare.

In recent years, the application of blockchain in enterprise financing has become a hot topic in academic research. This study aims to review the existing literature, construct a knowledge framework for this research topic and propose an agenda for future research.

Based on 181 papers published from 2016 to 2020 in core journal databases in China and abroad, this study used bibliometric tools to identify and analyze an overview of literature publications, research hotspot trends and research theme clustering. This study also qualitatively analyzes literature from the dimensions of enabling mechanisms, multitechnology synergy, challenges, theoretical perspectives and research methods.

This study presents the research progress of blockchain applications in direct financing, bank credit, supply chain finance and other financing modes and analyzes the similarities and differences between domestic and international literature. This study also reveals enabling mechanisms of blockchain in enterprise financing, reflected as information quality improvement (data elements), trust mechanism innovation (business process) and collaboration structure enhancement (network structure). The study found several challenges (e.g. technological uncertainty, data security and organizational change) and trends (e.g. integrated innovation of multiple digital technologies). Additionally, the authors identified several gaps and opportunities for further research.

This study adopts a strict strategy of selecting search terms when retrieving the literature, leading to the exclusion of certain papers on this topic.

This study provides valuable insights into the innovative development of enterprise financing modes enabled by blockchain and emphasizes that managers should clarify the applicable boundaries and necessary conditions of blockchain innovation in different financing scenarios to match technological innovation with industrial expectations.

This study constructs a knowledge framework on this topic based on a comprehensive review of existing research and proposes several important issues for future research based on the identified research gaps.

To explore how the blockchain affects the pricing and financing decisions in a low-carbon platform supply chain.

Considering the dual roles of the e-commerce platform as a seller and an initiator, a typical game-theoretical method is applied to analyze the behavior of supply chain decision-makers and the impact of key variables on equilibriums.

When loan interest rates are symmetric, whether blockchain is used or not, the e-commerce platform financing mode will always produce higher wholesale price and unit carbon emission reduction, while the retail price is the opposite. Higher unit additional income brought by the blockchain can bring higher economic and environmental performances, and the e-commerce platform financing mode is superior to bank financing mode. The application of blockchain may cause the manufacturer to change his/her financing choice. For bank financing, with the increase of loan interest rates, the advantages brought by blockchain will gradually disappear, but this situation will not occur under e-commerce platform financing.

Blockchain is known for its information transparency properties and its ability to enhance user trust. However, the impacts of applying blockchain in a low-carbon platform supply chain with different financing options are not clear. The authors examine the manufacturer's strategic choices for platform financing and bank financing, whether to adopt blockchain, and the impact of these decisions on carbon emissions reduction, consumer surplus and social welfare. The research conclusion can provide reference for the operation and financing decisions of platform supply chain under the carbon reduction target in the digital economy era.

This paper aims to assess recent trends in lending modes and to address the reasons for and consequences of changes in Bangladesh’s Islamic banking sector.

Theoretical discourse is used to generate an underpinning for the issues covered by the study. In addition, empirical evidence from the banking sector, including the information derived from interviews with the staff of three Islamic banks, is presented to achieve the research objectives.

The findings clearly demonstrate that the Islamic banking sector has experienced a paradigm shift from participatory financing to asset-based financing. In particular, the murabaha mode of financing dominates the current lending structure, which follows the general trend of the global Islamic banking sector.

It is necessary to concentrate on the potential negative outcomes of the trade-based murabaha mode of financing in a developing country such as Bangladesh, as banks have less incentive under protective rent (profit) opportunities to train the experts to screen and monitor projects in other socially desirable sectors such as agriculture and manufacturing including the small and medium enterprises.

Despite substantial growth of the Islamic banking sector, less research has been conducted to shed analytical light on the operations of Islamic banks from the perspective of loan disbursement to identify the disparities, if any, in between theory and practice in countries where both Islamic and conventional banks operate simultaneously. Using country-specific evidence, this study contributes to the debate by highlighting the paradigm shift of Islamic banks from participatory financing to the dominance of asset-based murabaha and other modes of lending, by identifying the fundamental causes that contribute to such a shift and by highlighting the consequences of such changes.

This paper aims to review and compare the conventional and Islamic perspectives of working capital management (WCM) to devise the best option of financing for managing working capital (WC) in South Asia. The paper also aims to help the business world for running its operations more smoothly by devising an alternative source of financing especially during crises such as the global financial crisis 2008 and the COVID-19 pandemic.

The divergence approach is used for a critical analysis of existing literature to derive the best possible alternative to the conventional system of financing.

This paper identifies that Islamic financing is an appropriate mode of financing as compared to conventional financing for meeting WC requirements in South Asia. Furthermore, under Islamic financing, the best available alternative way for managing WC needs is the Mudarabah Islamic mode of financing.

This is a theoretical paper and thus does not include empirical results.

This paper provides conventional and Islamic perspectives of WCM. The Islamic banks in South Asia may devise policies to encourage and convenience firms for using Mudarabah mode for meeting their WC needs instead of conventional sources. This paper also identifies that small and medium enterprises may be targeted by Islamic banks in Asian markets for providing funds for their smooth operations especially during a financial crisis when conventional banks refuse to lend. This will help managers to run businesses more efficiently and effectively especially during any kind of financial crisis in the future.

To the best of the author’s knowledge, this is the first study that studies the relationship between WCM and Islamic financing in comparison to conventional financing. Although prior studies identify an alternative to conventional financing as Islamic financing, no one studied while considering the WC as the main variable. This paper informs practitioners and researchers about a “state of the art” Islamic perspective of WCM.

This paper aims to suggest the preferred mode of financing for major sub-sectors of infrastructure: roads, seaports, telecommunication and energy by examining which mode of infrastructure financing – public, private or public–private partnership (PPP) – has the maximum positive impact on the overall GDP of India. The same exercise was carried out for the overall infrastructure sector by integrating data from all the four sub-sectors.

The structural vector autoregressive approach was used with the period of analysis taken from 1995 to 2014. The stationary properties of the variables were checked by the Phillips–Perron unit root.

The PPP mode of financing was found to make the maximum positive impact on the GDP of India. Considering the four sub-sectors individually, it was concluded that the private mode of financing in roads, energy and telecom sectors has the maximum positive impact on the GDP, while the PPP gives optimal benefit to the seaports sector.

Results will aid the Indian Government and policymakers to efficiently design and develop their economic policies accordingly.

The study is novel in a sense that it helps to address the lack of research into the area of infrastructure financing in India.

The purpose of this paper is to demonstrate a comparative study of financing small and cottage industries (SCIs) by interest‐free banks in different countries like Turkey, Cyprus, Sudan and Bangladesh.

The objectives are achieved by analyzing data based on an “institutional network” theoretical frame of references. The methodological approach used in the research is of a qualitative nature.

The research result shows that the lender–borrower network relationship, especially in case of financing rural‐based SCIs by interest‐free banks, differ from one country to the other even though the basic principles of interest‐free financing remains the same.

The ideas of interest‐free financing system (IFS) and its specific mode of lending funds towards rural‐based SCIs. The research is useful to both financing organizations based on interest‐free principles also small and cottage industry owners in developing as well as developed nations, where the Shariah‐based IFS is working.

This paper aims to draw upon existing debate over “financial sector rent” (bank rent) to analyze the current pattern of financing of Bangladeshi and Indonesian Islamic banks during the period of 2011 and 2015.

The empirical evidence through a comparative approach of analyzing the performance of Islamic banks with that of conventional banks in respective countries – two of the largest countries where majority of the population are Muslims – is drawn to demonstrate the objective.

While Islamic banks in Bangladesh are primarily concentrating on the murabaha (mark-up contract) mode of financing, some transactions under musharaka (partnership/equity-based contract) are observed in the Indonesian Islamic banking sector. This anomaly in Indonesia can be explained by the nature of their musharaka financing which is not of the purely “participatory” financing type. As a result, we can observe the quasi-murabaha syndrome in Indonesian Islamic banking sector. The concentration of asset-based financing including consumers’ financing (hire purchase) in the credit portfolio gives Islamic banks relatively higher Islamic bank rent opportunity for protecting their “franchise value” as Sharīʿah-compliant (Islamic law-compliant) lenders. However, Indonesian Islamic banks share a still infant Islamic banking market, and enjoy less rent opportunity under a severe competition with conventional banks.

The bank rent approach suggests that the syndrome observed both in Bangladesh and Indonesia can be ironically justifiable. Moreover, the mode of profit-and-loss sharing provides, in practice, an idea of the difficulty in managing the participatory financing embedded with high credit risk. Under this scenario, it is necessary for Islamic scholars and the regulatory authority to design an appropriate financial architecture, enabling Islamic banks to avail the benefit from a wider variety of Sharīʿah-based Islamic financing.

This paper expands the newly emerged concept of “Islamic bank rent” to make sense of the murabaha syndrome in Bangladesh and the quasi-murabaha syndrome in Indonesia. This approach also contributes to clarifying the unique risk and cost to be compensated with the spreads that Islamic banks are expected to earn.

The purpose of this paper is to examine customers' perception on two modes of home financing namely Bai Bithaman Ajil (BBA), debt‐based financing, and diminishing partnership (DP), an equity‐based financing, focusing on the concepts used, methods of computation and pricing, Shariah compliant, justice and equality, societal well being and equitable distribution of wealth and income and preference for the products.

The perception of respondents towards BBA and DP home financing were obtained by distributing a self‐administered survey questionnaire to a sample of 320 postgraduate students from three universities. Postgraduate students are considered suitable samples for this study because they are educated and own a house or intended to own one in the future.

Customers are dissatisfied with the prevailing mode of BBA financing as the bank's profit is computed upfront resulting in high pricing, injustice and a burden to individuals and society. On the other hand, the DP home financing mode is more preferred as profit and risk is shared between the customer and bank resulting in greater fairness, justice and equity. Its features also meet the purpose of the Shariah (Maqasid al Shariah).

The use of convenience sampling and postgraduate students may not sufficiently capture the variations that could potentially exist in the market.

There is a need for Islamic banks to move away from their dependence on debt mode of financing such as Murabahah and BBA to equity financing. The latter mode provides them with greater flexibility and innovation which can be used to fulfill customers' needs and wants.

The paper provides empirical evidence on the viability of home ownership based on equity financing which reduces customers' debt over a long period. This is due to the flexibility of purchasing the bank's share to own the house earlier. The DP model can also be used for the purchase of equipment and vehicles. It can also be applied to joint ventures and private equity arrangements.