Search results

1 – 10 of 56
Article
Publication date: 22 June 2018

Mehree Iqbal, Nabila Nisha and Mamunur Rashid

The purpose of this paper is to argue that “being Islamic” is already embedded in the decision frame of the Muslim consumers when choosing their Islamic banks, and hence…

Abstract

Purpose

The purpose of this paper is to argue that “being Islamic” is already embedded in the decision frame of the Muslim consumers when choosing their Islamic banks, and hence, the bank selection criteria of these Muslim consumers will be dominated by non-faith-based factors.

Design/methodology/approach

This study took the context of retail consumers of Islamic banks of Bangladesh—the fourth largest Muslim populated country in the world, having great potential of developing an Islamic ecosystem. The study employed survey method using structured questionnaire on 311 respondents from 35 branches of six Islamic banks in Dhaka—the capital city of Bangladesh. Exploratory factor analysis, followed by multivariate regression analysis, was conducted to identify the determinants of satisfaction among Muslim retail bank customers.

Findings

The study forwards three important findings. First, faith-based bank selection criterion (i.e. Islam) is not a stand-alone factor anymore; rather, the items of this factor are embedded into other non-faith-based factors. Second, among the non-faith-based factors, commitment of the bank, competence and compassion of the bank employees have topped the list of bank selection criteria. Third, competence, commitment and corporate image of the bank had relatively more influence on satisfaction when compared to compassion and convenience.

Practical implications

Since Shari’ah compliance is already embedded in Islamic banking system, Islamic bankers should now focus on strategic targeting of their customers based on non-faith-based operational determinants.

Originality/value

This study presents that non-faith-based selection criteria are more influential in Islamic bank selection decision.

Details

International Journal of Bank Marketing, vol. 36 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

Content available
Article
Publication date: 4 May 2018

Mamunur Rashid and Andrea Paltrinieri

390

Abstract

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 11 no. 2
Type: Research Article
ISSN: 1753-8394

Article
Publication date: 5 May 2020

Md Mamunur Rashid

The purpose of this study is to examine the mediating role of corporate board characteristics in the relationship between ownership structure and firm performance in the…

1849

Abstract

Purpose

The purpose of this study is to examine the mediating role of corporate board characteristics in the relationship between ownership structure and firm performance in the listed public limited companies of Bangladesh.

Design/methodology/approach

The study analyzed 527 annual reports of listed companies in Bangladesh for the years 2015-2017. The direct and indirect effect of ownership structure on firm performance was examined using AMOS 23. Baron and Kenny’s (1986) four steps procedure was used to establish the mediating role of board characteristics.

Findings

The results demonstrated that foreign ownership and director ownership have significant positive influence on both accounting and market based firm’s performance, while institutional ownership exhibits positive influence only on accounting-based performance (return on assets). With respect to mediating effect, the results show that board size and board independence partially mediate the relationship between ownership structure and firm performance.

Research limitations/implications

The major limitation of the study is that it focuses only on three years data in examining the hypothesized relationship among the variables.

Practical implications

Investors, regulators and managers can get evocative insights, particularly who seek to improve their company’s performance in the capital market through restructuring their ownership structure and board composition.

Originality/value

The study focuses on both direct and indirect effect of ownership structure on firm performance in the context of an emerging and developing economy. In examining the indirect effect, the study uses board size and board independence as the mediating variables.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 24 August 2020

Md Mamunur Rashid

The purpose of this study is to examine the effect of board characteristics on foreign equity ownership (FEO) in the listed public limited companies of Bangladesh.

Abstract

Purpose

The purpose of this study is to examine the effect of board characteristics on foreign equity ownership (FEO) in the listed public limited companies of Bangladesh.

Design/methodology/approach

The study collected data from 418 annual reports of listed companies of Bangladesh for the years 2015, 2016 and 2017 to examine the effect of board characteristics on FEO. Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression methods are used to test the hypotheses of the study.

Findings

The results show that board size has significant negative influence on FEO. Other board characteristics variables such as board independence and female directorship appear to have an insignificant influence on FEO. However, several firm characteristics variables such as return on assets, market-to-book ratio, firm size and firm age have a significant positive relationship with FEO. While presenting the regression results separately for manufacturing and non-manufacturing firms, the findings reveal a number of differences in the results between the two sectors.

Research limitations/implications

The major limitation of the study is that it concentrates only on three years annual report data in analyzing the hypothesized relationships.

Practical implications

Policy makers, regulators and top management can get meaningful insights with respect to optimal board structure and firm characteristics to attract foreign investors as the results revealed significant effects of several board and firm characteristics variables on FEO.

Originality/value

The present study includes the presence of female directors on the board to represent board characteristics. No other study has examined the relationship between FEO and female directors.

Details

Journal of Accounting in Emerging Economies, vol. 10 no. 4
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 2 February 2022

Muiz Abu Alia, Islam Abdeljawad, Sara Emad Jallad and Mamunur Rashid

Higher degree of and commitment to voluntary disclosure (VD) and corporate governance (CG) helps contain information asymmetry, leading to lower cost of equity (Ke). This…

Abstract

Purpose

Higher degree of and commitment to voluntary disclosure (VD) and corporate governance (CG) helps contain information asymmetry, leading to lower cost of equity (Ke). This study provides evidence on the nexus among VD, CG, and Ke from a context characterized by extreme political instability.

Design/methodology/approach

This study uses all non-bank companies listed with the Palestine Exchange during 2009–2018. The level of VD was estimated by using a checklist of 35 items modified for the context of Palestine. A second checklist with 19 items was used to measure the commitment of the Palestinian companies with CG requirements. Five proxies for Ke were tested: three ex-ante Capital Asset Pricing Model-like proxies and two ex-post realized return proxies.

Findings

The findings state that the VD negatively impacted Ke. Interaction effect of CG and VD helps reduce the Ke. As such, for firms with better CG, the increase in VD decreases the Ke more than their standalone effect. For control variables, leverage, size and growth of firms exhibited positive impacts on Ke, whereas quality of auditors found a negative connection.

Practical implications

Managers in similar context, like Palestine, may prefer flexibility of smaller size and adopt conservative growth strategies to cope with adverse events. Firms adopt CG and VD as complementary forces to tackle instability and market expectation.

Originality/value

Studies connecting VD-CG-Ke nexus from similar context are rare. Results of this study forward that emphasis on disclosure and governance practices will help boost the confidence of the investors, reduce the Ke and create an incentive for more investment.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 22 March 2021

Selma Izadi, Mamunur Rashid and Parviz Izadi

Extending on the resource-seeking foreign direct investment (FDI) hypothesis, this paper aims to uncover the potential relationship between financial and non-financial…

Abstract

Purpose

Extending on the resource-seeking foreign direct investment (FDI) hypothesis, this paper aims to uncover the potential relationship between financial and non-financial channels and inward FDI before and after the global financial crisis.

Design/methodology/approach

The sample includes 561 year-country observations on 33 developed and developing countries during 2001 and 2017. This study investigates several determinants such as inflation, gross domestic product growth, exchange rate, trade openness, financial openness, Sharpe ratio and country market capitalization, using ordinary least squares, fixed effects and system generalized method of moments.

Findings

The results indicate a negative relationship between inflation and financial openness with FDI inflow while market capitalization and exchange rate were positively connected to FDI inflow. All three financial channels of FDI inflow: financial market size, financial openness and Sharpe ratio significantly influenced FDI inflow. Moreover, inflation, financial openness and Sharpe ratio imply a meaningful impact on the FDI inflow of developed and developing countries, with a relatively stronger influence during the post-crisis periods. Asymmetric impact tests also revealed similar results.

Research limitations/implications

These findings offer an impression that financial market development channels may significantly boost FDIs in developing and, as well as developed countries. With special reference to the developing countries, a disciplined financial market and financial openness may help attract more FDIs.

Originality/value

Impact of the financial crisis on FDI inflows while observing the impact of the financing channels in developing and developed countries is rare in the academic domain. This study forwards that a structured and open financial market may help in recovering from the financial crisis.

Details

Journal of Financial Economic Policy, vol. 14 no. 1
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 26 July 2021

Mohammad Kabir Hassan, Muneer Maher Alshater, Mamunur Rashid and Sutan Emir Hidayat

This paper aims to study the performance of the Journal of Islamic Marketing (JIMA). This study identifies the influential scientific actors and identifies the major…

Abstract

Purpose

This paper aims to study the performance of the Journal of Islamic Marketing (JIMA). This study identifies the influential scientific actors and identifies the major dimensions and themes of the journal.

Design/methodology/approach

This study adopts a bibliometric method. A total of 483 articles and 27 reviews of the journal were collected from the Scopus database. This paper analyses the data using RStudio, VOSviewer and Microsoft Excel. Analyses were divided into three main categories: general performance indicators, citations analysis and cross-dimensional keywords analysis.

Findings

Islamic marketing establishes itself as an industry of its own, not as a cohort of Islamic finance. This study finds that JIMA played an active role in that respect. Islamic marketing has been primarily an Asian-dominated industry. Malaysia has led the development and publication of resources on Islamic marketing, followed by recent initiatives in Indonesia, Iran and Pakistan. There are also unique cases of Islamic marketing growth in non-Asian Muslim-minority countries, including the USA, the UK and Australia. Finally, loyalty, religiosity, halal food and intention of the Muslim consumers are the key dimensions covered by JIMA authors. This paper expects that JIMA will cater to the growing needs of Islamic marketing in diversified sectors, Islamic social marketing analytics, post-purchase attributes and multidimensional integration of Islamic marketing research in the dominance of diverse leadership styles and ownership structures.

Originality/value

The study provides an objective evaluation of the journal’s progress through a decade of its operation; it highlights the achievements and discusses the progress and contribution of the journal to the scientific community.

Details

Journal of Islamic Marketing, vol. 13 no. 10
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 2 May 2017

Mamunur Rashid, Xuan Hui Looi and Shao Jye Wong

Competitiveness is vital to attracting FDI into a country, which has led us to investigate the determinants of FDI in the top 15 most competitive countries in the Asia…

1826

Abstract

Purpose

Competitiveness is vital to attracting FDI into a country, which has led us to investigate the determinants of FDI in the top 15 most competitive countries in the Asia Pacific region.

Design/methodology/approach

We have analysed political stability alongside other commonly studied determinants of FDI. We have employed a panel data fixed-effect model on a 14-year sample data (2000-2013) involving the top 15 most competitive Asia Pacific countries. The Global Competitiveness Index was taken as the yardstick to identify these countries. We have used fixed effect, GMM-system, and Panel ARDL tests for robust results.

Findings

The GDP, trade openness and political stability positively influenced FDI inflows while inflation rate negatively impacted FDI inflows in the selected countries. Political stability was the most influential variable in the presence of other indicators. GDP, openness, and political stability exhibit significant long-run relationship with FDI inflows.

Research limitations/implications

To increase FDI flows, regulators should focus on building the image of the country, and possibly the region, by ensuring stable economic and political environment, maintaining macroeconomic stability through bi- and multi-lateral arrangements with neighbouring countries.

Originality/value

Regional relationships with neighbouring countries can be considered as the building blocks for attracting FDIs. These relationships can be strengthened based on liberal trade policies, openness in capital control, and cooperation in terms of political actions. One such recent issue in regional political cooperation include actions to reduce terrorism and corruption that help boost the confidence of the investors.

Details

Journal of Financial Economic Policy, vol. 9 no. 02
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 6 August 2021

Rizal Yaya, Ilham Maulana Saud, M. Kabir Hassan and Mamunur Rashid

This study aims to explore the governance practices of profit and loss sharing (PLS) financing in connection to the socio-economic development objective of the Islamic…

Abstract

Purpose

This study aims to explore the governance practices of profit and loss sharing (PLS) financing in connection to the socio-economic development objective of the Islamic financial institutions (IFIs).

Design/methodology/approach

The study context included IFIs from Yogyakarta, Indonesia. A two-stage research methodology was used. In the first stage, top ten IFIs – three Islamic commercial banks, three Islamic rural banks and four Islamic micro finance institutions – were considered for in-depth interviews. Formal interview protocol was followed to record and transcribe interviews. In the second stage, a questionnaire survey considered 26 IFIs. Unit of measurement was individuals working at the mid and top level from the selected organisations.

Findings

The governance process of providing and managing PLS financing involves several critical factors, such as the financing duration, instalment timing, contract approval and cost, basis of sharing, risk management, customer empowerment and Sharīʿah compliance. Contrary to the existing belief, the authors found that PLS financing is primarily available for shorter period of time (three years) and it is unavailable for start-ups. Also, newer IFIs rely less on PLS financing than the older IFIs. In addition to worrying about the higher risk of return, IFIs considered government regulation on PLS to be tighter in terms of provision and rescheduling.

Research limitations/implications

This study is limited to investigating IFIs in Yogyakarta, Indonesia. This limitation is covered by taking samples from three types of IFIs.

Practical implications

For IFI practitioners, these findings are expected to improve their confidence in undertaking more progressive efforts in adopting governance policies that contribute to greater socio-economic justice.

Social implications

If the governance good practices are implemented by all IFIs, a higher degree of social welfare and customer awareness can be achieved.

Originality/value

Across all types of IFIs, this study’s results confirm that PLS is less preferred for long-term and start-up financing. These findings should be the ingredients to push research on PLS further, as these findings grossly violate the theory. Fulfilling these gaps could strengthen the nexus between PLS and socio-economic justice.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 6
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 28 May 2020

Md. Mamunur Rashid

The purpose of this study is to examine the effect of financial reporting quality (FRQ) on share price movement (SPM) of listed companies in an emerging and developing…

Abstract

Purpose

The purpose of this study is to examine the effect of financial reporting quality (FRQ) on share price movement (SPM) of listed companies in an emerging and developing economy – Bangladesh.

Design/methodology/approach

The study analyzed 296 annual reports for the year 2015 and 2016 in examining the effect of FRQ on SPM. Ordinary least squares (OLS) regression model is used to examine the hypothesized relationship among the variables. A modified version of Lang et al. (2003) has been adopted in measuring the SPM. FRQ is measured using the qualitative characteristics approach as defined by the International Financial Reporting Standard Framework and used by Beest et al. (2009) and Braam and Beest (2013).

Findings

The study finds a positive association (though not significant statistically) between the FRQ and SPM in the country’s leading stock exchange (Dhaka stock exchange). Furthermore, the effect of enhancing quality on SPM is found to be stronger as compared to fundamental quality. Majority of the FRQ constructs demonstrate an improvement in the quality score in the year 2016 as compared to 2015 except for relevance.

Research limitations/implications

The key limitation of the study is that it focuses only on two years (2015 and 2016) annual reports data in measuring FRQ and its effect on SPM.

Originality/value

The study uses qualitative characteristics approach in measuring the FRQ and to examine its effect on SPM using the context of an emerging and developing economy – the case of Bangladesh.

Details

Journal of Financial Reporting and Accounting, vol. 18 no. 3
Type: Research Article
ISSN: 1985-2517

Keywords

1 – 10 of 56