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This paper aims to compare and review alternative ways to adjust public ground leases.

Based on principles derived from a review of scientific literature, alternatives for the extension of leases are discussed based on the case of Amsterdam.

Many alternatives lead public ground-lease systems to produce results that are the opposite of what they are intended to be (as inspired by Henry George): new improvements result in higher rent, but additional location values do not result in higher rent. One exception is the lease-adjustment-at-property-transaction alternative, which may nevertheless result in fewer transactions.

Public leasehold systems are highly contested with regard to the extension of leases. Such systems are often aimed at capturing land-value gains. In practice, however, this tends to be more difficult than expected. Value capture by authorities, as intended by the system, results in counter-movements of lessees, who often gain public support to set lower leases. These political processes may even result in the termination of such public ground-lease systems. This paper reports on a search for possible solutions.

The comparison of various alternatives to ground-lease extension based on principles derived from literature is new, and it contributes insight into public ground-lease systems.

Many national retailers have complained about increases in business rates tax bills since the 2017 revaluation. What impact has the 2017 business rates revaluation had on independent high street retailers in market towns in the north of England? The paper aims to discuss these issues.

The study uses Valuation Office Agency rating list data to determine rateable value and business rates payable for independent high street retailers in eight northern market towns either side of the 2017 rating revaluation. The data were analysed using business rates matrices to reveal the impact of the new rating list on independent retailers in the eight locations.

Analysis reveals that the majority of independent retailers in the northern market towns sampled have experienced reductions in both the rateable value of their premises and business rates payable. Increase in the rates relief threshold has extended relief to almost half of the independent retailers in the study, most of whom receive 100 per cent relief.

Charity shops receive at least 80 per cent rates relief which means they are able to afford to pay higher rents. This “sets the tone” for landlords setting market rents in that location which are then used as comparable evidence by the VOA when determining rateable values at revaluation further polarising the gap between rate payers and those to are exempt.

Focussing on independent retailers on high streets in markets towns in north of England, this study provides an alternative perspective to the orthodox view of business rates revaluations having a negative impact on retailers.

Today, low-income people seeking resources from the federal government must often work through non-profit organizations. The purpose of this paper is to examine the constraints that the poor must face today to secure resources through non-profit organizations.

This is a conceptual paper. The authors review cases of non-profit organizations providing federally supported resources to the poor across multiple sectors.

The authors find that to accept government contracts serving the poor, nonprofit organizations must often engage in one or several practices: reject clients normally consistent with their mission, select clients based on likely outcomes, ignore problems in clients’ lives relevant to their predicament, or undermine client progress to manage funding requirements. To secure government-supported resources from nonprofits, the poor must often acquiesce to intrusions into one or more of the following: their privacy (disclosing sensitive information), their self-protection (renouncing legal rights), their identity (avowing a particular self-understanding) or their self-mastery (relinquishing authority over daily routines).

The authors show that the nonprofits’ dual role as brokers, both liaisons transferring resources and representatives of the state, can complicate their relation to their clients and the predicament of the poor themselves; the authors suggest that two larger trends, toward increasing administrative accountability and demonstrating deservingness, are having both intended and unintended consequences for the ability of low-income individuals to gain access to publicly funded resources.

The awarding of terminals to private operators is considered a prime task of landlord port authorities. Yet, terminal concessions in seaports have only recently gained interest in academic circles. The awarding process poses a complex set of managerial challenges to port authorities, one of the key issues being the determination of the duration of the concession.

Despite the importance of the duration of terminal concessions in seaports, the issue has not received much attention in academic circles. Factors impacting on the duration of contracts, leases or concessions have, however, been studied extensively in other research areas, such as agriculture, coal contracts, franchising and natural gas. This paper uses insights from these academic studies to obtain a better understanding of the impact of concession duration on the stakeholders involved and relates them to empirical evidence on concession length in European seaports. The paper then proposes a classification scheme for the exogenous determination of concession duration, based on techniques developed for Public-Private-Partnerships in large infrastructure projects. In the last section the paper discusses the importance of concession durations to various stakeholders in seaports and illustrates these principles using a case study.

This paper seeks to define a theoretical model for the urban regeneration of mass housing areas based on citizen initiative, self-management and self-financing in the form of the neighbourhood cooperative. This paper aims to identify mechanisms for economic resource generation that enable the improvement of the urban surroundings and its buildings without assuming disproportionate economic burdens by the local residents based on two principles, the economies of scale and service provision.

The research is structured in three phases: a literature review of the different trends in self-financing for urban regeneration and the conceptual framework for the definition of a cooperative model; the definition of theoretical model by analysing community ecosystem, neighbourhood-based services and the requirements for its economic equilibrium; and the discussion of the results and the conclusions.

The results show the potential of the cooperative model to generate a social economy capable of reducing costs and producing additional resources to finance the rehabilitation process. The findings show not only the extent of economic advantages but also multiple social, physical and environmental benefits. Its implementation involves the participation of multiple actors, which is one of its significant advantages.

The main contribution is to approach comprehensive urban rehabilitation from a collaborative understanding, overcoming the main financing difficulties of the current practices based on public subsidy policies. The model also allows an ethical relationship to be built with supplier companies by means of corporate social responsibility.

This paper aims to present the theoretical and conceptual framework of a new method in public finance called “participation based tax increment financing (P-TIF)” by combining conventional tax increment financing (TIF) within the Sharīʿah-compliance structure.

This study develops a benchmark model for P-TIF, which offers a participative contract between both lender and borrower. With the help of this model, a financing schema in P-TIF is established by incorporating stochastic modelling. Possible implications and alternative options of application are also explored with a discussion of challenges.

The results mainly indicate that P-TIF promises lenders to be a part of increment from tax earnings, in return for a reduced interest rate. They show how a rise in participation of the lender in a given contract lowers the interest rate. Under the base case scenario, the interest rate is reduced to zero when the participation of the lender in tax increment is set at 50%.

With the feature of being interest-free, P-TIF can be implied also within the Sharīʿah-compliance framework, thanks to the model it is based on. Additionally, as the model in this paper is parametric, it can be applicable to various cases in Islamic finance.

To the best of our knowledge, this is the first paper in the literature in the sense that it provides a conceptual idea and respective model for TIF method within a Sharīʿah-compliance framework.

To investigate the consequence of COVID-19 pandemic on the financial reporting and disclosure (FRD) practices, the study has been conducted. Moreover, this paper highlights the significance of FRD practices in any emergency period and its relevance with legitimacy theory in Bangladesh Perspective.

The COVID-19 pandemic has adverse impact on business. Hence, all the business activities have been categorized into five major aspects which are financial factors, business operations, business contracts, business value and stakeholders. These five major activities have been considered as independent variable. By analyzing various policy recommendations and guidelines of global and local accounting bodies, a structured questionnaire was developed in association with related IAS and IFRSs. Then, it was distributed among the accounting professionals of Bangladesh who are currently engaged in financial statement preparation and auditing services. Finally, data was analyzed through structural equation modeling (SEM) to test the hypothetical relationship between dependent variable and independent variable.

This study finds that financial factors, business contracts and stakeholders have significant relationship with the financial reporting and disclosure practices during the COVID-19 pandemic period. However, business operation and business value have no significant relationship with financial reporting and disclosure practices.

This study tries to analyze why and how firms should disclose essential information (both financial and non-financial) to the financial statement users during the COVID-19 pandemic. This study can be used as benchmark to issue a separate policy or standard for reporting any kind of adverse event in the financial reporting and disclosure practices.

To our best knowledge, we believe that this is first kind of study undertaken to investigate the consequence of COVID-19 pandemic on the FRD practices in the context of Bangladesh. This study is kind of exploratory in nature. Hence, future studies can explore industry-based financial reporting and disclosure practice in any pandemic period.

Tawarruq (Islamic commodity financing) has evolved as the most ubiquitous concept in Malaysia’s Islamic banking industry. Nevertheless, the extensive use of tawarruq has invoked a number of Sharīʿah (Islamic law) concerns in its practice. This study aims to investigate the Sharīʿah non-compliant (SNC) phenomena in the practice of tawarruq financing in Malaysia.

This study adopts qualitative research methodology, combining both descriptive and content analysis. A self-administered questionnaire was distributed to 16 Malaysian Islamic commercial banks to unveil the Sharīʿah non-compliance issues in the application of tawarruq in Islamic banks (IBs) in Malaysia.

The study found that some practices of tawarruq in Malaysia might not comply with the Sharīʿah, mainly due to the improper sequencing of contracts. The study also discovered that IBs adopt different approaches in dealing with SNC events and the income derived therefrom. Finally, the study noted the influence of board of director/management on certain Sharīʿah decisions particularly on the treatment of non-ḥalāl (impermissible) income.

The findings of the study serve as a reference to industry players and regulators in formulating a Sharīʿah non-compliance risk management framework for tawarruq practices.

The survey on SNC issues in tawarruq practice constitutes the first of its kind in the existing literature.

This paper aims to analyse the concept of form over substance and introduces the term substance gap to the literature. The substance gap is defined as the difference between the way a concept is expressed and its intended result. Besides, the study investigates the issue from both classical and contemporary viewpoints.

The methodology adopted in this paper is descriptive research.

This paper has depicted the substance gap in contemporary contracts and found that form is equally important as substance in Islamic finance contracts. This paper offers a fresh outlook on form and substance to highlight the importance of the issue and its significance. The findings of the study will help researchers address the issue at its roots and help them to bridge the gap between the form and substance of Islamic finance contracts.

This paper investigates the substance gap in contemporary contracts that exists between the fiqh rules and conditions of an Islamic contract, and their development and construction. Further, the gap could also be attributed to the pressure to cope with a complicated modern finance environment.

For Bangladeshi small and medium enterprises (SMEs), the COVID-19 economic shock is remarkable in both its complexity and intensity. SMEs need systemic inspiration to solve the crisis, aligned with a moral and authentic approach that serves both the leader and the follower’s interests. This study aims to conceptualize the innovation-focused success method of SMEs before and after the pandemic to manage the crisis by establishing spiritual leadership based on Islamic perspectives.

To discuss the impact of spiritual leadership on innovation-focused SME performance configuration through the lens of a crisis, a comprehensive literature study has been carried out in which over 360 articles are read and reviewed by the authors. It has also established the reliability and validity of literature analysis. Also, a qualitative investigation has been used to support the direction of the study.

For a subsequent process of scientific deployment and evaluation of its execution, a new applied strategic innovation-focused SME success configuration through spiritual leadership development is made available. The primary value of this paradigm is the potential to calculate and treat the aspects of spiritual leadership obtained from Islamic ideas.

Prior analytical or empirical attempts from multiple viewpoints are subsequently needed to inquire about the proposed conceptualization.

Among the realistic consequences of this analysis is that while a number of leadership paradigms have been embraced by a broad body of leadership studies, the findings indicate that this paper should pay heed to the influential spiritual style of leadership, taking into account Islamic perspectives on the context of crisis. Therefore, Bangladeshi SMEs need to develop and run leadership training programs focused on the Islamic viewpoint of spirituality to encourage the actions of leaders during and after crises.

The legal and moral values of the society would ultimately be upgraded from this conceptualization. Moreover, less corruption in corporate activities would improve the economic prosperity of a nation. It would also contribute to the cross-cultural portrayal of the positive picture of Islam.

This holistic conceptualization describes the mediating role of strategic innovation practices based on theoretical foundations, which have seldom been done in previous research, between the Islamic model of spiritual leadership and SME success during and after a crisis.