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This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.
Abstract
Purpose
This study explores the benefits of business financial inclusion from the Islamic perspective in Nigeria by selecting Kano state as a case study.
Design/methodology/approach
Primary data were generated through semi-structured interviews with experts who comprised professional accountants/consultants and experienced traders. Thematic analysis was applied to examine the data collected. In addition, observations were made in some selected stores and shops to complement the interview results.
Findings
The study finds that the benefits of business financial inclusion include recordkeeping improvement, reduction of the risks of bad debts, reduction of the risks associated with cash, enhancing business zakāh for poverty alleviation, sales improvement and business growth, getting supports from government and other development organizations and the provision of employment opportunities.
Research limitations/implications
This study is purely qualitative, and, as such, it has some limitations in terms of generalization.
Practical implications
The practical implication of this study is that the use of electronic payment methods, especially point of sales, enhances the business financial inclusion, which consequently maximizes their wealth and contributes to the reduction of poverty to the barest minimum in the society.
Social implications
The social implication of the findings is that businesses that are financially included are in a better position to discharge religious, philanthropic and other benevolent activities, such as zakāh, qard hasan, waqf and sadaqah, for the welfare of the ummah.
Originality/value
The study points out the benefits of financial inclusion not only to businesses but also to other members of the society at large.
Details
Keywords
Mohammed Ayoub Ledhem and Mohammed Mekidiche
This paper aims to investigate empirically whether Islamic securities enhance economic growth in the Southeast Asian region based on the endogenous growth theory using the…
Abstract
Purpose
This paper aims to investigate empirically whether Islamic securities enhance economic growth in the Southeast Asian region based on the endogenous growth theory using the non-parametric analysis.
Design/methodology/approach
This paper applies panel quantile regression with Markov chain Monte Carlo optimization as an optimal non-parametric approach to investigate the effect of Islamic securities on economic growth starting from 2013Q4 to 2019Q4 in Southeast Asia. Total issued Islamic securities holdings are employed as a measure for Islamic securities, while the gross domestic product is employed as a proxy for economic growth. The sample includes all working Islamic financial foundations in the top progressive Islamic securities markets' countries of Southeast Asia (Malaysia, Indonesia and Brunei Darussalam).
Findings
The findings confirm that the increase of issuing Islamic securities in Islamic capital markets of Southeast Asia is increasing the levels of economic growth, reflecting the weighty role of the Islamic capital market development as an active contributor to economic growth.
Practical implications
This research would fill the literature gap by exploring Islamic securities–economic growth nexus in Southeast Asia using a robust non-parametric approach based on the endogenous growth theory for better estimation results. The findings of this review serve as a roadmap for financial analysts, policymakers and decision makers to stimulate the Islamic securities markets as another source of finance which can promote the economic growth.
Originality/value
This research is the first that investigates empirically the Islamic securities–economic growth nexus in Southeast Asia using a new empirical investigation built on the non-parametric analysis and outlined within the theoretical context of the endogenous growth model to gain robust evidence about this nexus.
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Keywords
Francesco Pastore, Claudio Quintano and Antonella Rocca
The Italian school-to-work transition (STWT) is astonishingly slow and long in comparison to the other EU countries. We analyze its determinants comparing the Italian case with…
Abstract
Purpose
The Italian school-to-work transition (STWT) is astonishingly slow and long in comparison to the other EU countries. We analyze its determinants comparing the Italian case with Austria, Poland and the UK.
Design/methodology/approach
The analysis is based on a Cox survival model with proportional hazard. The smoothed hazard estimates allow us to identify the nonlinear path of the hazard function.
Findings
The authors reckon that the actual length of the transition to a stable job is around 30 months in Italy. Conversely, it is less than one year in the other countries. Women are particularly penalized, despite being on average more educated than men. Tertiary or vocational education at high secondary school strongly increases the hazard rate to a regular job. The smoothed hazard estimates suggest positive duration dependence at the beginning of the transition and slightly negative thereafter.
Practical implications
Stimulating economic growth and investing in education and training are important pre-conditions for shortening the transition.
Originality/value
Despite the duration of the STWT is one of the most important indicators to measure the efficiency of the STWT, it is not easy to measure. The authors build on their previous research work on this topic, but relaxing the assumption of a monotonic hazard rate and using the flexible baseline hazard approach to test for the existence of nonlinear duration dependence. Furthermore, they extend the analysis by including student-workers who attended a vocational path of education, in order to detect its effectiveness in allowing young people finding a job sooner.