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Article
Publication date: 10 November 2020

Ioannis Anagnostopoulos, Emmanouil Noikokyris and George Giannopoulos

The purpose of this paper is to comparatively examine the cost and the overlooked revenue efficiency of Islamic and commercial banks in the aftermath of the crisis…

Abstract

Purpose

The purpose of this paper is to comparatively examine the cost and the overlooked revenue efficiency of Islamic and commercial banks in the aftermath of the crisis, operating in nine MENA-based countries during the 2010-2017 financial period, where the established empirical work is relatively limited. The authors also update the research where they use recent data sets and they provide for a targeted, structured literature review pre- and post-crisis in the Gulf region.

Design/methodology/approach

The authors examine cost and revenue efficiency of 25 major Islamic banks (IBs) and 25 major conventional banks (CBs). They conduct tests on the determinants of such variables. In the first stage of the analysis, they measure efficiency by using the data envelopment analysis (DEA) technique. The analysis performs regressions where these also reveal that the bank efficiency index is influenced by various bank type-specific attributes. It also seems that tighter restrictions on bank activities are negatively associated with bank efficiency. Second stage analysis, which accounts for banking environment and bank-level characteristics, confirms these results.

Findings

Conventional banks are both more cost and revenue efficient than Islamic banks over the period under examination. The analysis also reveals that the bank efficiency index is influenced by bank-type attributes. Greater presence of fixed capital resources has positive effects on growth in both Islamic and conventional banking. The major constraints impeding Islamic banking growth include labour costs. The authors examine whether and how bank-type orientation affects the cost and revenue efficiency of conventional and Islamic banks. They find that post-crisis Islamic banks underperform their conventional counterparts on both accounts within a mixed banking system.

Research limitations/implications

This study did not include comparative data before the 2008 financial crisis. There is also a great deal of heterogeneity among Islamic banks in the samples that have been examined here and by other researchers and the constructed efficiency scores should be interpreted cautiously as divergent Islamic banks are pooled in the same samples.

Practical implications

This study identified factors that may help bank managers to improve their financial outlook by controlling revenue and cost efficiency profitability. These factors could as well help to understand how some indicators affect both cost and revenue efficiency, particularly in Islamic banking. It also seems that tighter restrictions on Islamic bank activities are negatively associated with bank efficiency. Islamic banks that directly compete with their conventional counterparts in the aftermath of the crisis are less efficient on both the cost and revenue frontiers. They are potentially hindered by the differential regulations of supervising authorities in dual banking systems.

Social implications

The authors provide recommendations regarding regulatory and other issues that are relevant to Islamic banking and further research is suggested. Findings are relevant to a variety of stakeholders (managers, policymakers and regulators). Islamic banking authorities could re-examine the benefits of partially moving to a more standardized/conventional system of banking by lifting some trading restrictions. In addition, developing and maintaining managerial skills is an indispensable instrument for the long-term endurance of any system. A related aspect is thus an effort to determine the holistic efficiency (including managerial) of Islamic banks as a guide for policymakers to improve managerial performance.

Originality/value

There is relatively limited empirical work that investigates the efficiency between Islamic and conventional banking in the aftermath of the crisis in the Gulf region despite the growing importance of this region on political and economic levels. The authors also examine the revenue efficiency measure often under-researched in the literature and particularly important for comparative studies. Overseas-owned banks have attained much higher infiltration levels in middle-eastern countries over the past decade. It has also been suggested that market penetration differences may also be related to bank efficiency concerns among countries and their financial systems as opposed to types of banks.

Details

Journal of Islamic Accounting and Business Research, vol. 11 no. 9
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 21 November 2022

Stavros Degiannakis, George Giannopoulos, Salma Ibrahim and Bjørn N. Jørgensen

The authors propose an alternative robust technique to test for discontinuities in distributions and provide consistent evidence of discontinuities around zero for both…

Abstract

Purpose

The authors propose an alternative robust technique to test for discontinuities in distributions and provide consistent evidence of discontinuities around zero for both scaled and unscaled earnings levels and changes. The advantage of the proposed test is that it does not rely on arbitrary choice of bin width choices.

Design/methodology/approach

To evaluate the power of the test, the authors examine the density function of non-discretionary earnings and detect no evidence of discontinuities around zero in levels and changes of these non-discretionary earnings. As robustness, the authors use pre-managed earnings excluding accrual and real manipulation and find similar evidence.

Findings

The finding using our technique support the Burgstahler and Dichev (1997) interpretation on earnings management, even for smaller sample sizes and reject the theory that discontinuities arise from scaling and sampling methods.

Originality/value

The study provides an overview of those studies that support and those that oppose using “testing for discontinuities” as a way to examine earnings management. The authors advance the literature by providing an alternative methodology supporting the view that the kink in the distribution represents earnings management.

Details

Journal of Accounting Literature, vol. 45 no. 1
Type: Research Article
ISSN: 0737-4607

Keywords

Article
Publication date: 26 August 2022

Thi Thu Ha Nguyen, Salma Ibrahim and George Giannopoulos

The use of models for detecting earnings management in the academic literature, using accrual and real manipulation, is commonplace. The purpose of the current study is to…

Abstract

Purpose

The use of models for detecting earnings management in the academic literature, using accrual and real manipulation, is commonplace. The purpose of the current study is to compare the power of these models in a United Kingdom (UK) sample of 19,424 firm-year observations during the period 1991–2018. The authors include artificially-induced manipulation of revenues and expenses between zero and ten percent of total assets to random samples of 500 firm-year observations within the full sample. The authors use two alternative samples, one with no reversal of manipulation (sample 1) and one with reversal in the following year (sample 2).

Design/methodology/approach

The authors include artificially induced manipulation of revenues and expenses between zero and ten percent of total assets to random samples of 500 firm-year observations within the full sample.

Findings

The authors find that real earnings manipulation models have lower power than accrual earnings manipulation models, when manipulating discretionary expenses and revenues. Furthermore, the real earnings manipulation model to detect overproduction has high misspecification, resulting in artificially inflating the power of the model. The authors examine an alternative model to detect discretionary expense manipulation that generates higher power than the Roychowdhury (2006) model. Modified real manipulation models (Srivastava, 2019) are used as robustness and the authors find these to be more misspecified in some cases but less in others. The authors extend the analysis to a setting in which earnings management is known to occur, i.e. around benchmark-beating and find consistent evidence of accrual and some forms of real manipulation in this sample using all models examined.

Research limitations/implications

This study contributes to the literature by providing evidence of misspecification of currently used models to detect real accounts manipulation.

Practical implications

Based on the findings, the authors recommend caution in interpreting any findings when using these models in future research.

Originality/value

The findings address the earnings management literature, guided by the agency theory.

Details

Journal of Applied Accounting Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0967-5426

Keywords

Abstract

Details

Transport Science and Technology
Type: Book
ISBN: 978-0-08-044707-0

Abstract

Details

Transport Science and Technology
Type: Book
ISBN: 978-0-08-044707-0

Content available
Book part
Publication date: 14 December 2006

Abstract

Details

Transport Science and Technology
Type: Book
ISBN: 978-0-08-044707-0

Case study
Publication date: 17 May 2021

Saroj Koul and Hima Gupta

Illustrate the typical organizational responsibility of a small, medium industry dealing with precision manufacturing products. Introduce a balanced scorecard (BSC) as a…

Abstract

Learning outcomes

Illustrate the typical organizational responsibility of a small, medium industry dealing with precision manufacturing products. Introduce a balanced scorecard (BSC) as a concept about the case in the context. Introduce the parameters specific to small and medium enterprise (SME) that could be considered to be part of the key performance indicators. Understand the advantages and disadvantages of using a BSC in SMEs in emerging economies.

Case overview/ synopsis

Gopika Rani, the recently hired Executive Assistant along with Sanjana M, the Business Development Manager of SEP India Private Ltd. (SEPI), a small medium enterprise, were finalizing a proposal for the forthcoming “India Small Business Excellence Awards 2020.” The proposal was to be considered by the Board of Directors scheduled to meet next week for approvals. Sanjana apprises Gopika on CRISIL’s policy advisory role and its annual awards scheme for SMEs in India. She also details recent modifications announced by the Government of India that had impacted SEPI and was pertinent for filling the application. Gopika understood that SEPI was well-known for the precision and durability of its component, and was poised for growth. The business catered to global suppliers (Tier-1 companies) of the Indian automotive industry that accounted for over 75% and the balance contributed to exports. SEPI’s unique products such as Starter Motor Ignition or the Fuel Vending pump (Automotive) or the non-automotive products such as arrowheads and bowstrings (sports) or the heart-valves (medical) have all the quality certifications. For new product development, customer feedback played a crucial role at all stages of development from prototype to pilot tests. SEPI’s mission “be our customers’ preferred supplier and business partner” drove their personnel and organizational objectives. Also, SEPI could get multiple benefits and be in a strong market position because of this award recognition. Gopika was, however, unclear about SEPI’s business strategies and use of appropriate performance measurement tools. Gopika desired to address the Board of Directors next week on her idea of applying a BSC as a useful “strategic planning and management tool.” The BSC methodology can be used to monitor the performance of SME firms against strategic goals. It can be successfully implemented in smaller organizations because of their simpler set-ups and tendency to arrive at a consensus quickly. However, implementation of BSC within the Indian micro, small and medium enterprises has been scant. Several studies found that the lack of ownership, resistance to change, a scarcity of training and coordination between the departments and lack of funds were among the challenges. The firms also had to make numerous changes to their strategies as business environments evolved. Gopika was convinced that the tool could blend in all the “four perspectives – customer, financial, internal business and learning and growth” and grow. The tool could demonstrate meeting all the prerequisites, “needs to have an exemplary vision, demonstrate outstanding business acumen, use best practices and create a legacy for the others to follow,” that were prerequisites for receipt of this award. Her next project would be to seek approval for the implementation of BSC, a beneficial and apt tool for SEPI. Do you agree with Gopika Rani that BSC is a suitable tool for SEPI? If yes, why? If no, why?

Complexity academic level

This case study titled leveraging the BSC – a tool for SME advancement is intended for use in the graduate management program (MBA) in subject electives, namely, entrepreneurship, strategy formulation, human resource management or production management.

Supplementary materials

Teaching Notes are available for educators only.

Subject code

CSS 3: Entrepreneurship.

Supplementary materials

Teaching Notes are available for educators only.

Details

Emerald Emerging Markets Case Studies, vol. 11 no. 2
Type: Case Study
ISSN: 2045-0621

Keywords

Article
Publication date: 11 September 2020

Antonios Giannopoulos, Lamprini Piha and George Skourtis

Drawing on the service-dominant logic and the institutional theory, this paper aims to explore the value-creating mechanisms of branding in the destination context and the…

1642

Abstract

Purpose

Drawing on the service-dominant logic and the institutional theory, this paper aims to explore the value-creating mechanisms of branding in the destination context and the brand co-creation process at and between different levels of a service ecosystem.

Design/methodology/approach

An exploratory research design was used to generate qualitative data from 18 in-depth interviews with important stakeholders and investigate how and why brand co-creation is fostered in the service ecosystem.

Findings

The study proposes a stepwise process of strategic imperatives for brand co-creation in the destination context. It presents the multi-directional flows of the brand meaning across levels of the tourism ecosystem and thereby interprets stakeholders’ efforts to co-create sustainable brands that gain prominence in the global tourism arena.

Research limitations/implications

Future research might validate the framework in a quantitative research setting. The extended analysis of the value-creating ecosystem could investigate the role of institutions and brand value propositions across levels.

Practical implications

Acknowledging their limited control over the brand co-creation process, tourism practitioners are offered step-by-step guidance to help shape a destination brand that may retain relevance in the tourists’ minds. Critical insights are provided into resource sharing between actors and subsequent responsibilities for a sustainable destination branding strategy.

Originality/value

The paper considers the significance of the various levels in the ecosystem and the underlying mechanisms of brand co-creation in a somewhat neglected branding domain.

Details

Journal of Product & Brand Management, vol. 30 no. 1
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 10 August 2015

Stelios K. Georgantzinos, G. I. Giannopoulos, P. K. Pierou and N. K. Anifantis

A computational structural mechanics approach, based on the exclusive use of standard bar elements is utilized in order to investigate the elastic stability of…

Abstract

Purpose

A computational structural mechanics approach, based on the exclusive use of standard bar elements is utilized in order to investigate the elastic stability of single-walled carbon nanotubes (SWCNTs) with atom vacancy defects under axial compressive loads. The paper aims to discuss this issue.

Design/methodology/approach

The proposed model uses three dimensional, two nodded, linear truss finite elements of three degrees of freedom per node to represent the force field appearing between carbon atoms due to the basic interatomic interactions.

Findings

Numerical results concerning the critical forces which cause instability of pristine nanotubes are compared with corresponding data given in the open literature in the effort to demonstrate the good accuracy of the method. Then, it is assumed that SWCNTs present-specific structural defects defined by their length, width, orientation and longitudinal position. The influence of these four geometric parameters of the imperfections considered on the stability of SWCNTs is investigated in detail and essential conclusions are revealed.

Originality/value

To the authors’ best knowledge, is the first time that the specific method is introduced for the prediction of buckling behavior of defective SWCNTs. The structural defect here is considered as atoms vacancy that forms a like-crack defect having a specific length, width, orientation and position along the nanotube length.

Details

International Journal of Structural Integrity, vol. 6 no. 4
Type: Research Article
ISSN: 1757-9864

Keywords

Article
Publication date: 16 November 2012

George J. Avlonitis and Antonios A. Giannopoulos

The paper focuses on services marketing implementation synthesizing previous knowledge from the fields of internal and external marketing. Although academic debate over…

Abstract

Purpose

The paper focuses on services marketing implementation synthesizing previous knowledge from the fields of internal and external marketing. Although academic debate over the modeling of internal and external market orientation has lately emerged, services marketing literature lacks a relevant theoretical foundation.

Design/methodology/approach

Following a qualitative research design applied to the tourism sector, in‐depth interviews were conducted at three different levels (managers, employees and customers). In total, 37 hotel managers, 46 employees and 42 guests participated in the process of capturing the essence of the fragile equilibrium between internal and external marketing adoption.

Findings

Findings from the content analysis were consistent with the literature, unveiling an important number of elements, which formulate the components of the balanced market orientation, namely: market orientation adoption, internal marketing implementation and systematic monitoring of the service delivery process.

Research limitations/implications

Highlighting the importance of interrelations and modeling the underlying constructs, the study merges together different research streams from the extant literature. Nevertheless, the relations between the components of balanced market orientation have yet to be examined and validated.

Originality/value

In light of the qualitative findings, the study delves into the main pillars of integrated marketing philosophy, where the external focus on the customer is a sine qua non. Services marketing implementation is delineated into: applying internal marketing practices; periodically assessing employees’ perceptions; adopting market‐oriented behaviour; and measuring its impact on customers.

Details

Managing Service Quality: An International Journal, vol. 22 no. 6
Type: Research Article
ISSN: 0960-4529

Keywords

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