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Article

John R. Presley

Examines the impact of the oil recession on the viability of pastbanking business and its implications for the future loan portfolio ofthe commercial banks. Concludes that…

Abstract

Examines the impact of the oil recession on the viability of past banking business and its implications for the future loan portfolio of the commercial banks. Concludes that there is a need for greater risk management, not only in terms of loan recovery, but also in relation to more effective portfolio management; this embraces a greater emphasis upon the nature of risk and return in bank asset structure and greater diversification of assets in order to spread risks and to reduce bank exposure to particular sectors of the domestic economies.

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International Journal of Bank Marketing, vol. 10 no. 1
Type: Research Article
ISSN: 0265-2323

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Article

J. Grahame Boocock and John R. Presley

This article seeks to explore whether there is a role for venture capital in the funding of small and medium‐sized enterprises (SMEs) within a developing economy, where…

Abstract

This article seeks to explore whether there is a role for venture capital in the funding of small and medium‐sized enterprises (SMEs) within a developing economy, where there has not been an established culture of equity‐linked funding. In addition, the links between venture capital and the concepts of Islamic banking are examined. The Malaysian economy is taken as a case study as it allows a discussion of venture capital issues alongside the potential for Islamic finance.

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Managerial Finance, vol. 19 no. 7
Type: Research Article
ISSN: 0307-4358

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Article

Mohammed Al‐Sarhan and John R. Presley

Outlines the background to privatization in Saudi Arabia and reports a survey to assess the attitudes of businessmen and public sector employees to it. Finds that 91 per…

Abstract

Outlines the background to privatization in Saudi Arabia and reports a survey to assess the attitudes of businessmen and public sector employees to it. Finds that 91 per cent support the idea and tabulates the proportions expecting various benefits from it (top: 77 per cent expect improvements in quality of service). Shows that significant proportions of businessmen are not confident of the quality of necessary preconditions for successful privatisation (e.g. financial markets and business law); and illustrates the degree of support for privatising specific government projects (top: Saudi Arabian Airlines 94 per cent).

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Managerial Finance, vol. 27 no. 10/11
Type: Research Article
ISSN: 0307-4358

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Article

David Laidler

The similarities among the writings of Ralph Hawtrey, Lauchlin Currie and Milton Friedman are re‐affirmed, as is the influence of the former on what Friedman has called…

Abstract

The similarities among the writings of Ralph Hawtrey, Lauchlin Currie and Milton Friedman are re‐affirmed, as is the influence of the former on what Friedman has called “the Chicago tradition” of the 1930s. The underconsumptionist analysis of Paul Douglas is not integral to that tradition.

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Journal of Economic Studies, vol. 25 no. 1
Type: Research Article
ISSN: 0144-3585

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Article

Shafiu Ibrahim Abdullahi

The purpose of the study is to explore contributions made in Islamic economics methodology, particularly in the use of mathematical models used to build Islamic economic theories.

Abstract

Purpose

The purpose of the study is to explore contributions made in Islamic economics methodology, particularly in the use of mathematical models used to build Islamic economic theories.

Design/methodology/approach

The methodology adopted is a survey by means of literature review.

Findings

Overuse of mathematical models in economics has it apparent weakness in simplifying complex realities and use of impracticable assumptions. But, that notwithstanding, they have a role to play in the development of Islamic economics. Empirical analysis in Islamic economics has weaknesses, including the very fact that moral phenomenon in Islamic economics is difficult to quantify, but its contribution, just like mathematics, is needed to develop the field. Islamic economics adopt mathematical models that do not cause obstacles in achieving the aim of Islamic economics, which is Falah. Where it is harmful, it is discarded. Islamic economics has yet to have a universally accepted research methodology; instead, numerous methodologies are used today. The poor use of mathematics in Islamic economics by new researchers, among other factors, may be due to young researchers’ poor background in mathematics.

Originality/value

The paper is unique in looking at the topic of Islamic economic methodology from the angle of application of mathematical models.

Details

International Journal of Ethics and Systems, vol. 34 no. 2
Type: Research Article
ISSN: 0828-8666

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Article

Musa Essayyad and Haider Madani

This article investigates concentration, efficiency, and profitability of commercial banks operating in Saudi Arabia, which is considering acceding to the World Trade…

Abstract

This article investigates concentration, efficiency, and profitability of commercial banks operating in Saudi Arabia, which is considering acceding to the World Trade Organisation whose rules on financial services liberalisation could pose a competitive challenge to local banks. We use regression analysis to investigate the underlying determinants of Saudi bank concentration, efficiency, and profitability. The significance of the study stems from the conventional premise that highly concentrated banking or credit market introduces inefficiencies that would harm firms’ access to credit thus hindering economic growth. If banks were found to be highly concentrated and hence inefficient, then the relevant policy question that should be addressed by Saudi Arabian policy makers is what should be done to alleviate the situation. Empirical results show that Saudi banking market is highly concentrated, and healthy competition through the Saudi adoption of corrective measures would ease the problem. The Saudi government may like to consider concurrently joining the WTO, and allow non‐banking institutions to enter into brokerage business, offer financial products and services (investment banking, brokerage, and portfolio management), and compete with commercial banks through fair participation in auctioning of government securities.

Details

Managerial Finance, vol. 29 no. 11
Type: Research Article
ISSN: 0307-4358

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Article

Abdullah Al‐Salamah and Rodney Wilson

Outlines the role of the Saudi Arabian Basic Industries Corporation (SABIC) in Saudi economy policy: chiefly industralisation through joint ventures with foreign…

Abstract

Outlines the role of the Saudi Arabian Basic Industries Corporation (SABIC) in Saudi economy policy: chiefly industralisation through joint ventures with foreign multinationals. Reports a 1993 survey of 312 SABIC employees divided into Saudi nationals, expatriates from developed countries and those from developing countries. Compares their educational and employment levels, family attitudes towards their jobs and the provision and take‐up of training; and finds significant dissatisfaction with SABIC’s training policy and the skills acquired. Considers the importance of salary levels, the implications of pay and promotion differentials between the groups and the likely impact of giving higher pay rises to the Saudis. Discusses the attitudes of the three groups towards management decision‐making, job termination/transfer proceedings, holidays, working hours, shift scheduling, working conditions and safety.

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Managerial Finance, vol. 27 no. 10/11
Type: Research Article
ISSN: 0307-4358

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Book part

Masazumi Wakatabe

This chapter investigates the nature of the transformation of macroeconomics by focusing on the impact of the Great Depression on economic doctrines. There is no doubt…

Abstract

This chapter investigates the nature of the transformation of macroeconomics by focusing on the impact of the Great Depression on economic doctrines. There is no doubt that the Great Depression exerted an enormous influence on economic thought, but the exact nature of its impact should be examined more carefully. In this chapter, I examine the transformation from a perspective which emphasizes the interaction between economic ideas and economic events, and the interaction between theory and policy rather than the development of economic theory. More specifically, I examine the evolution of what became known as macroeconomics after the Depression in terms of an ongoing debate among the “stabilizers” and their critics. I further suggest using four perspectives, or schools of thought, as measures to locate the evolution and transformation; the gold standard mentality, liquidationism, the Treasury view, and the real-bills doctrine. By highlighting these four economic ideas, I argue that what happened during the Great Depression was the retreat of the gold standard mentality, the complete demise of liquidationism and the Treasury view, and the strange survival of the real-bills doctrine. Each of those transformations happened not in response to internal debates in the discipline, but in response to government policies and real-world events.

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Including a Symposium on New Directions in Sraffa Scholarship
Type: Book
ISBN: 978-1-78714-539-9

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Book part

Shatha Qamhieh Hashem and Islam Abdeljawad

This chapter investigates the presence of a difference in the systemic risk level between Islamic and conventional banks in Bangladesh. The authors compare systemic…

Abstract

This chapter investigates the presence of a difference in the systemic risk level between Islamic and conventional banks in Bangladesh. The authors compare systemic resilience of three types of banks: fully fledged Islamic banks, purely conventional banks (CB), and CB with Islamic windows. The authors use the market-based systemic risk measures of marginal expected shortfall and systemic risk to identify which type is more vulnerable to a systemic event. The authors also use ΔCoVaR to identify which type contributes more to a systemic event. Using a sample of observations on 27 publicly traded banks operating over the 2005–2014 period, the authors find that CB is the least resilient sector to a systemic event, and is the one that has the highest contribution to systemic risk during crisis times.

Details

Management of Islamic Finance: Principle, Practice, and Performance
Type: Book
ISBN: 978-1-78756-403-9

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Article

Grahame Boocock, David Lauder and John Presley

Before assessing the role of the Training and Enterprise Councils (TECs) in supporting small and medium‐sized enterprises (SMEs) in England, this paper highlights the…

Abstract

Before assessing the role of the Training and Enterprise Councils (TECs) in supporting small and medium‐sized enterprises (SMEs) in England, this paper highlights the importance of the SME sector and then briefly outlines the development of official policy towards SMEs over the past two decades. The introduction of the TECs in 1989 encompassed a number of features of the UK Government's SME policy. The TECs have been given wide‐ranging and challenging responsibilities. Whilst there is no clear demarcation line between the TECs' enterprise and training activities, this paper is more concerned with their role in promoting ‘enterprise’ in SMEs. A broad brush survey of TECs conducted for this paper reveals that the different TECs have adopted different approaches to fulfilling this role. The paper then describes an initiative offered by one particular TEC; the scheme in question enables SMEs to finance the use of consultants to assist in business planning and management development activities. The operation of this scheme encapsulates many of the key issues involved in SME policy, such as how to select companies for assistance and how to design an integrated programme of SME support. Finally, the implications of these findings for the future of the TECs are explored, with the caveat that the role of the TECs will inevitably mirror the (constantly evolving) government policy towards SMEs.

Details

Journal of Small Business and Enterprise Development, vol. 1 no. 1
Type: Research Article
ISSN: 1462-6004

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