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Since the 1970s, the funding of microenterprise by the credit non‐government organizations (CNGOs) in developing countries such as Bangladesh has been recognized as a…
Since the 1970s, the funding of microenterprise by the credit non‐government organizations (CNGOs) in developing countries such as Bangladesh has been recognized as a means of creating job opportunities for the rural poor. Despite injection of substantial amount of microcredit by the CNGOs, a large number of microenterprises do not survive for long and those who survive do not grow beyond the subsistence level. This paper advances the argument that a low survival rate as well as stagnated growth of microenterprises owe to the flawed developmental role of the CNGOs. The author provides evidence from Bangladesh in support of such contention. The paper concludes that unless the CNGOs play flawless development roles, low survival rate and persistent stagnated growth will haunt the microenterprises in developing countries.
Industrial credit providers in developing countries have been experiencing serious financial distress since the late 1970s due to persistent industrial loan default…
Industrial credit providers in developing countries have been experiencing serious financial distress since the late 1970s due to persistent industrial loan default. Despite the application of a number of remedial measures, loan default problem continued to haunt them. This paper advances this argument that one of the prime reasons for loan default is the morally indefensible behaviour of borrowers and lenders in developing countries. The author has provided evidences from Bangladesh in support of such contention and recommends for changes in lenders and borrowers behaviour to create deterrent against moral hazard problems in order to reduce incidents loan default.
Outlines the massive loan default problems faced by the Bangladesh banking industry and discusses the importance of consistent and adequate public policy in reducing them…
Outlines the massive loan default problems faced by the Bangladesh banking industry and discusses the importance of consistent and adequate public policy in reducing them. Critically reviews the government’s industrial, fiscal, monetary and tariff policies since independence in 1971, referring to relevant research; and relates them to the loan repayment performance of industrial borrowers. Castigates its excessive bureaucratic controls, lack of co‐ordination or consistency and over‐supply of credit; and its failure to recognize entrepreneurs’ general lack of experience. Puts at least part of the blame for industrial loan defaults down to “flawed” policies.
This chapter presents the hetrodox theory of Islamic finance in regard to the theme of corporate governance in the light of the particular Islamic epistemological premise…
This chapter presents the hetrodox theory of Islamic finance in regard to the theme of corporate governance in the light of the particular Islamic epistemological premise. A vast social implication of corporate governance is opened by its epistemological inquiry comprehending integrated decision making and systemic complementarities expending across society at large. Thereby, a socio-financial theory of corporate governance in the epistemological context is elaborated upon. This is a path-breaking chapter premised on its epistemological approach of unity of knowledge and learning systems as a distinct contribution to the theory of corporate governance in the field of ethical socio-financial perspective.
The focus of this paper is to develop an econometric model that measures the changes in GDP for the OIC states.
This paper focuses on the development of an econometric model which measures the changes of gross domestic product (GDP) for the members of Organization of Islamic Conference (OIC) countries. In particular, we analyze the growth of GDP in the OIC countries and their implications for expanded marketing opportunities for goods and services. We also discuss some challenges the marketers may face in future if the formation of OIC countries block become an economic identity and set up some sort of confederation.
The problem of multi‐collinearity needs to be solved if the model is not going to change.
The recommended solution is to acquire more data on the countries that were absent from the original sample. This may be hard to obtain due to some countries not having a process for collecting accurate statistics.
The purpose of this conceptual paper is to develop a discussion expounding the Islamic perspective of corporate governance as a special case of a broader decision‐making theory that uses the premise of Islamic socio‐scientific epistemology. Islamic epistemology is premised on the divine oneness of God. The worldly explanation of divine unity is done by means of specific laws and instruments that make the Islamic epistemology functionally viable in developing, implementing and inferring from the application of the epistemological rules to different issues. In the present case the issue is of corporate governance.
The development and conclusions of this discursive paper as a conceptual one point out the possible application of a process‐oriented epistemology of unity of knowledge to corporate governance. The underlying methodology of institutional discourse and integration with dynamic parameters is formalized.
The end results of the conceptual framework of this paper on corporate governance are contrasted with the approach to corporate governance in mainstream literature. Also the same Islamic theoretical and philosophical background of corporate governance is examined from the dual (mixed) Islamic economic and institutional perspective.
The practical implications of the Islamic idea of corporate governance are immense in studying transaction cost minimization in decision‐making environments. In this regard it is argued that the theory of Islamic corporate governance presents a discursive process, transparency and institutional participation that reduce transaction costs.
The paper contributes fresh knowledge in corporate governance theory in the light of two central issues. First, an organic preference formation is studied by a process model. Second, transaction cost is minimized while pursuing a discursive and participatory model of decision making in an environment governed by the systemic meaning of unity of knowledge as its episteme. Relevant institutional policies can be developed in the light of such systemic discursion under the episteme of unity of knowledge understood and applied in the systemic organic sense.
The theme of micro‐foundation of economic theory has not been adequately addressed. This is true even of those who pioneered the area of micro‐foundation of macro‐economics. The great missing link in economic theory, both of micro‐economics and macro‐economics, is the inability to methodologically integrate ethical and moral values through preference mapping. This missing methodology disables the study of institutions, policy formulation and normative statements of structural transformation. On the other hand, such issues are once again haunting the human race in the murky and troubled global relations today – from capitalism to war to governance. This paper addresses the preference mapping and embedding of ethical and moral issues as endogenous dynamics in economic theory. The approach is rigorous and methodological.