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Article

Humayon A. Dar

It is widely recognised that the human development index (HDI) does not totally capture the rich content of the human development concept, necessitating a more adequate…

Abstract

It is widely recognised that the human development index (HDI) does not totally capture the rich content of the human development concept, necessitating a more adequate measure of human development. This paper introduces an ethics‐augmented human development index (E‐HDI) as a new indicator of socio‐economic change and development. The E‐HDI incorporates freedom, faith, environmental concerns and the institution of family in the HDI and ranks countries of the world accordingly. It is envisaged to be of practical use in national policy making and may also be related to agenda of the bilateral and international development agencies. Just as the HDI has managed to shift discussions beyond gross national product, the E‐HDI is expected to inject ethical concerns more explicitly into policy making in the contexts in which the human development reports are used.

Details

International Journal of Social Economics, vol. 31 no. 11/12
Type: Research Article
ISSN: 0306-8293

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Article

M. Adnan Aziz and Humayon A. Dar

The incidence of important bankruptcy cases has led to a growing interest in corporate bankruptcy prediction models since the 1960s. Several past reviews of this

Abstract

Purpose

The incidence of important bankruptcy cases has led to a growing interest in corporate bankruptcy prediction models since the 1960s. Several past reviews of this literature are now either out‐of‐date or too narrowly focused. They do not provide a complete comparison of the many different approaches towards bankruptcy prediction and have also failed to provide a solution to the problem of model choice in empirical application. Seeks to address this issue.

Design/methodology/approach

Through an extensive literature review, this study provides a comprehensive analysis of the methodologies and empirical findings from these models in their applications across ten different countries.

Findings

The predictive accuracies of different models seem to be generally comparable, although artificially intelligent expert system models perform marginally better than statistical and theoretical models. Individually, the use of multiple discriminant analysis (MDA) and logit models dominates the research. Given that financial ratios have been dominant in most research to date, it may be worthwhile increasing the variety of explanatory variables to include corporate governance structures and management practices while developing the research model. Similarly, evidence from past research suggests that small sample size, in such studies, should not impede future research but it may lead researchers away from methodologies where large samples are critically necessary.

Originality/value

It is hoped that this study will be the most comprehensive to‐date review of the literature in the field. The study also provides a unique ranking system, the first ever of its kind, to solve the problem of model choice in empirical application of bankruptcy prediction models.

Details

Corporate Governance: The international journal of business in society, vol. 6 no. 1
Type: Research Article
ISSN: 1472-0701

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Article

Mazhar M. Islam

In recent years, the central monetary authorities of some Gulf Cooperation Council countries have made several regulatory changes in order to achieve social & economic…

Abstract

In recent years, the central monetary authorities of some Gulf Cooperation Council countries have made several regulatory changes in order to achieve social & economic goals. The monetary authorities of these countries have strengthened prudential norms. Asset classifications and provisioning norms have moved closer to international standards. Banks are required to maintain capital to risk weighted assets ratios of 8 per cent required by the BIS. Local banks follow International Accounting Standards. Although the central monetary authorities of the GCC countries are active in supervising and monitoring their regulations on financial institutions, but not in a rapid way. In a global financial market, Islamic‐banking regulators that operate Islamic banks should think about the compatibility of the regulatory setting. Through a deep understanding of the nature of the Islamic banking business and the recent western banking supervisory framework, Islamic banking regulators will be able to develop a sound banking system without loosing its own distinction.

Details

Managerial Finance, vol. 29 no. 7
Type: Research Article
ISSN: 0307-4358

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Article

Arun Kumar Tarofder, Umme Salma Sultana, Raisal Ismail, Suha Fouad Salem and Adiza Alhassan Musah

The purpose of this study is two-fold: classifying non-Muslim halal fashion buyers by applying quantitative techniques and identifying the persuading determinants of the…

Abstract

Purpose

The purpose of this study is two-fold: classifying non-Muslim halal fashion buyers by applying quantitative techniques and identifying the persuading determinants of the non-Muslim women’ halal fashion buying behaviour (HFBB).

Design/methodology/approach

By adapting items from prior studies, a structured questionnaire was developed and distributed face-to-face to various Muslim fashion stores in Malaysia. After a one-month effort, 221 responses were obtained from non-Muslim consumers by using convenience sampling. Next, a clustering analysis was used to classify them from a contrasting perspective. Finally, regression and Andrew F. Hayes’s process procedures were applied to examine the three independent variables’ effect and the moderating variables.

Findings

The results revealed the characteristic behaviour of the non-Muslim women explicitly, which is related to their halal fashion purchasing decision. Based on the ANOVA results, there were different motives for buying halal fashion by non-Muslim women. Additionally, it was found that the most crucial determinants for non-Muslim’s HFBB are “cultural adaptation”, albeit, there is no substantial proof of a significant moderating effect of age and income on the consumers.

Research limitations/implications

These discoveries are advantageous for halal fashion retailers and provide an appealing domain for further investigations in the context of the global halal study.

Practical implications

This study provided an idea for an untapped segment on the halal fashion sellers’ segmentation and positioning strategy. The study’s results suggested specific managerial and practical recommendation that the sellers can use to attract non-Muslim consumers.

Originality/value

This study was amongst the uncommon investigations within the halal fashion context that will enlighten the managers’ selling strategy on the most neglected market segment. The results of this study provided an empirical understanding of how to sell halal fashion to non-Muslim consumers.

Details

Journal of Islamic Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0833

Keywords

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