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This study delves into the dynamics between Agile Response to Change (AR), Adaptive Scoping (AS), Stakeholder Engagement (SE) and Project Performance (PP), with a special focus on the moderating influence of Project Complexity (PC). The research, grounded in a thorough literature review, identifies critical gaps in these areas and examines the extent to which PC moderates the effects of AR, AS and SE on PP, offering new perspectives for managing complex projects.

The research develops a conceptual model based on a critical analysis of existing literature. A comprehensive questionnaire was designed, incorporating 28 items to measure AR, AS, SE, PP and PC. Data was collected from 136 project managers across various industries, and the responses were analysed using structural equation modelling (SEM) to explore the complex interplay between these variables.

The analysis revealed that internal AR (ARint) significantly enhances both quantitative (PPqt) and qualitative aspects of PP (PPql). AS and SE were found to positively influence PPql, but their impact on PPqt was not significant. Interestingly, PC was observed to negatively moderate the relationship between ARint and PPql, while its moderating effect on the relationship between ARint and PPql was not significant. The study also notes that PC does not significantly alter the positive correlations between AS, SE and PPql.

This research contributes to the existing body of knowledge by elucidating the relationships between ARint, AS, SE and different dimensions of PP. It uniquely explores the role of PC as a moderating variable in these relationships, offering valuable insights for practitioners and researchers in the field of complex project management.

The purpose of this paper is to investigate the driving forces (economics and socio-demographic) that influence family Takaful demand in the Middle East and North Africa (MENA) region, using a sample of 15 countries from the MENA.

The authors use multivariate analysis, bootstrapping and generalised method of moments techniques. They first examine a full model that combines all variables; second, a model that controls for product market factors; and finally, a model that controls for socio-demographic factors. They further separate all models into linear and log-linear demand functions.

The authors demonstrate that the relationship between the demand for family Takaful in MENA and Islamic banking deposits, education, dependency rate, female life expectancy and Muslim population is significantly positive. On the other hand, the significant factors that are inversely related to the demand for family Takaful in MENA are inflation, financial development and male life expectancy.

The crucial limitation of this study is the amount of data available in regards to the dependent variable, family Takaful contributions. Consequently, to improve the understanding in explaining the family Takaful demand in MENA, further research can take advantage of expanding the variables that were omitted in this research as a consequence of the unavailability of data. Some of the possible influential variables can include government social security expenditure, legal system and government policies, price of Takaful and level of competition within the Takaful and insurance industry.

It is obvious that there are very few studies that focus on the MENA market, and indeed, none of them gives attention to the factors that influence demand for family Takaful. While this study is expected to provide more understanding and awareness on the concept of Takaful and the factors that influence its demand, the authors hope that it would encourage more studies on various issues on the Takaful industry so as to help researchers to understand more aspects of this new emerging business.

The purpose of this paper is to investigate the impact of the Indonesia Shariah-compliant Stock Index (ISSI) on the performance of included shares. In essence, the authors ask whether the establishment of the ISSI provides abnormal returns for the firms that are not included in the Jakarta Index.

The authors use an event study methodology to estimate cumulative abnormal returns in the days surrounding the event to examine the relationship between Shariah-compliant investments and stock returns. The estimation window of 90 trading days prior to the event (−30) to day 60 after (+60) is adopted. They also use a range of investment performance measures to provide new evidence on whether faith-based ethical investments generate superior performance compared to their unscreened benchmarks.

Using daily returns, the Indonesia ISSI and panel data model, the findings show that the inclusion of the ISSI has a positive impact on the financial performance of the included shares during the 41-day event window. The evidence also suggests that the ethical investment has a significant influence on the performance of stock market returns.

This study offers insights to policymakers, investors and fund managers interested in the indices’ performance. A key conclusion that could be derived by bodies that regulate Islamic products and services is that investors are not only concerned about what is profitable but also what makes their investments ethical.

Although the global growth of the Islamic capital market products and services has been tremendous in recent years, very few studies focus on the Indonesian market and indeed, none of them devote sufficient attention to Shariah-compliant investments and stock returns.

The large number of stakeholders in a project is a source of complexity because their inter-relationships can lead to complex interactions, an inadequate understanding of the other stakeholders and conflicting stakeholder interests. Although several studies have investigated the role and effects of engaging stakeholders in improving project success, studies examining the relationships between stakeholder engagement (SE) and quantitative and qualitative project performance (PP) in complex projects (CPs) have been limited. This study empirically examined the relationships between SE and project performance within complex and non-CP contexts.

The study used an extensive literature review to develop the conceptual model. The study identified 22 factors of measuring SE and project performance’s association within the context of CPs. The literature review followed by a questionnaire survey to collect data from quantifying the relationships. One hundred forty-four responses were received from project managers in different locations. The response data were subjected to structural equation modelling analysis. Confirmatory factor analysis was applied to evaluate the measurements model.

The current study generated several key findings. In the context of CPs, SE was found to negatively affect quantitative PP but to positively and significantly affect qualitative PP. In non-CPs, SE also positively affects qualitative PP. Further, in the context of CPs, SE negatively affects schedule performance, whereas no significant relationship was found between the two variables in non-CPs. In terms of cost performance, no significant relationship was observed between SE and cost performance for either group.

This research provides insight into differences in the relationship(s) between SE and PP in non-complex and CPs. The research also makes recommendations for project team members.

This study aims to comprehensively examine the stock market effects of announcements by firms to issue conventional bonds versus Sukuk. In addition, the authors investigate whether the choice of instrument depends on the tax status and government backing of the issuing firm. They split the sample into whole (2000-2015), pre-crisis (2000-2007) and post-crisis (2010-2015) subsamples.

The authors use event study methodology, market model and FTSE Bursa Malaysia EMAS index on 14 different event windows of which five are symmetric and nine are asymmetric. Further, parametric and distribution-free tests are used to investigate the difference of cumulative abnormal returns when using the two instruments (Sukuk and conventional bonds). For the choice of issuing conventional bonds or Sukuk, Heckman procedure is employed to control for the self-selection of the announcement effects.

The analysis indicates only insignificant difference in reaction to Sukuk and conventional bond issuances for the overall period and pre-crisis period. However, and importantly, they find strong evidence supporting the Malaysian stock abnormal return reaction to Sukuk compared to conventional bond issuances after the global financial crisis. Interestingly, they find that tax incentives and government backing are significant determinants in issuing Sukuk over conventional bonds. Such evidence is confirmed when using a wide range of robustness checks including four different market indices and both parametric and non-parametric tests.

The empirical analysis is subject to limitations. First, the sample is limited to Sukuk issues domiciled in Malaysia. Second, given that Sukuk are collateralized whereas conventional bonds are not, it would only seem logical for the former to be issued by riskier firms whereas the latter would be issued by stronger firms with stable cash flows. The future research can explore this issue some more. Finally, comparing Sukuk with other similar ethical sources of traded capital may provide insights into the globalization of such economic, trade and financial reforms in and outside Malaysia.

To the author’s knowledge, no research has been conducted studying the differential and conflicting results to announcement of Sukuk issuance in the literature, nor the stock market effects of announcements to issue Sukuk over the pre-crisis (2000-2007) and post-crisis (2010-2015) periods. Thus, the study attempts to assess previous findings and contribute additional evidence that investigates the issue in rich setting.

The purpose of this paper is to examine the informational value of Shariah-compliant disclosure in the Malaysian initial public offerings (IPOs) prospectus and whether Shariah-compliant status has an impact on the IPO initial return when adopted as a signalling mechanism.

It uses data from 320 IPOs for Shariah-compliant companies listed on the Bursa Malaysia between 2004 and 2013.

It finds that the degree of IPO underpricing for Shariah-compliant companies is 19.97 per cent with investors earning significant returns on the first trading day. For the effect of different factors on the degree of IPO, we find that the size and type of IPO offers have a significant impact on the degree of IPO underpricing. Other economic confidence factor models fail to yield economically plausible parameter values.

The study contributes to the literature in a number of ways. It is the first to evaluate the effect of Shariah-compliance status regulation in Malaysian market, hence it provides an insight into the effectiveness of such regulation. Second, while the existing Shariah-compliant IPO studies in the same market focus on Shariah status at the date of the studies being conducted, this study uses the information around IPO time. The information that investors receive around IPO time may influence investors’ decision and valuation of the IPOs in the aftermarket. Specifically, this study is different from the previous research, as it investigates whether Shariah-compliant companies would change the average degree of IPO underpricing for companies listed on Bursa Malaysia.

Cities are facing challenges with their smart city agenda due to tighter budget constraints, varied interests of different stakeholders and increasing needs of technological innovation. Therefore, cities are partnering with private organisations to advance smart city projects. This research critically analyses the existing research published on public-private partnerships (PPPs) for the development of smart city projects and aims to identify the emerging themes and recommend mechanisms and strategies for improved use of smart city PPPs.

The content/textual analysis was conducted on 52 research publications relating to PPP and smart city from 2001 to 2020. With the assistance of the Leximancer software, the related literature was systematically analysed and synthesised to present the emerging themes of PPP application within the smart city context.

The analyses reveal that smart city PPPs mainly concentrated on building new or improving existing infrastructure. The research identifies five themes on PPP application for smart city development: (1) Technological innovation integration and increased risk profile, (2) Smart citizen engagement and participatory governance, (3) Data sharing and information security, (4) Transformation of PPP process and approach and (5) PPPs for urban sustainability. This research consolidates these five themes in a proposed sustainable public-private-people partnership (PPPP) framework.

This research provides a new perspective on rethinking the extant PPP models by highlighting the emerging themes in the PPP application for smart city development. This study provides useful recommendations for smart city infrastructure project partnership and engagement among the public and private sectors, and the city residents.

The Gaza Strip in Palestine is suffering from a shortage of water and energy. To manage the current situation and address future issues, practical approaches need to be adopted to enhance water and energy efficiency. The purpose of this paper is to elicit professionals’ perceptions of the drivers affecting water and related energy consumption in residential buildings in the Gaza Strip.

In total, 19 drivers were identified from previous research and modified according to the results of a pilot study. These drivers were ranked under a Relative Importance Index (RII). A questionnaire survey was then administered and non-random purposive sampling used. The population of this study comprised stakeholders, including the United Nation Refugee Work Agency, Gaza Strip Governorates Municipalities, and the Coastal Municipalities Water Utility.

The results of all drivers (i.e. RII=71.43 per cent, mean=3.57) indicated that the respondents agreed about which drivers were affecting water and energy consumption. The sign Test-value was a positive 4.55 and the p-value was 0.000 (i.e. smaller than the level of significance a=0.050). The means of these drivers differed significantly and were greater than the hypothesised value of 3. Accordingly, it was concluded that the drivers investigated significantly affected household residents’ consumption of water and energy in residential buildings. The study revealed that climate changes, knowledge of how to conserve water and energy and household size were the most important drivers affecting household residents’ consumption of water and related energy in residential buildings.

The study will assist the parties concerned about water and energy use to be aware and understand the drivers affecting water and related energy the consumption in order to provide household residents with the necessary knowledge to ensure conservation and sustainability. Although this study related to a narrow geographical area in Palestine, the findings could be useful to similar locations in the Middle East and Africa.

This research demonstrates the drivers affecting water and related energy the consumption in residential buildings in the Gaza Strip which is considered the first study in Palestine and in the region. The study provides a useful platform for the development of appropriate water and energy strategies in Palestine and other similar geographical locations in the Middle East.

The objective of this research is to propose an immersive framework that integrates virtual reality (VR) technology with directives international safety training certification bodies to enhance construction safety training, which eventually leads to safer construction sites.

The adopted methodology combines expert insights and experimentation to maximize the effectiveness of construction safety training. The first step was identifying key considerations for VR models such as motion sickness prevention and adult learning theories. The second step was developing a game-like VR model for safety training, with multiple hazards and scenarios based on the considerations of the previous step. After that, safety experts evaluated the model and provided valuable feedback on its alignment with international safety training practices. Finally, the developed model is tested by senior students, where the testing format followed the Institution of Occupational Safety and Health (IOSH) working safely exam structure.

An advanced immersive VR safety training model was developed based on extensive lessons learned from the literature, previous work and psychology-informed adult learning theories. Model testing – through focus groups and hands-on experimentation – demonstrated significant benefit of VR in upgrading and complementing traditional training methods.

The findings presented in this paper make a significant contribution to the field of safety training within the construction industry and the broader context of immersive learning experiences. It also fosters further exploration into immersive learning experiences across educational and professional contexts.