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Book part
Publication date: 6 May 2024

Ahmed Hassanein and Hana Tharwat

This chapter explores the concept of corporate social responsibility (CSR) from an Islamic Shari'ah-compliant perspective. It provides a comprehensive literature review on CSR…

Abstract

This chapter explores the concept of corporate social responsibility (CSR) from an Islamic Shari'ah-compliant perspective. It provides a comprehensive literature review on CSR with an explicit focus on the Islamic perspective of CSR, Islamic models of CSR, CSR practices in conventional and Islamic banks, and the consequences of CSR to Islamic banks. This chapter's main contribution lies in considering the current CSR literature from a Shari'ah perspective. Likewise, it identifies gaps in the current literature and suggests potential areas for future research. This chapter attempts to improve the understanding of how Islamic banks integrate social responsibility into their operations. The insights from this chapter are helpful to practitioners and academic scholars in Islamic finance, accounting, and CSR. This chapter emphasizes the importance of incorporating Islamic values and principles into CSR practices and encourages further research and investigation in this area.

Details

The Emerald Handbook of Ethical Finance and Corporate Social Responsibility
Type: Book
ISBN: 978-1-80455-406-7

Keywords

Open Access
Article
Publication date: 1 February 2023

Rahabhi Mashapure, Brighton Nyagadza, Lovemore Chikazhe, Gideon Mazuruse and Precious Hove

The main purpose of this research is to investigate factors influencing rural women entrepreneurship development and sustainable rural livelihoods in Manicaland province of…

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Abstract

Purpose

The main purpose of this research is to investigate factors influencing rural women entrepreneurship development and sustainable rural livelihoods in Manicaland province of Zimbabwe.

Design/methodology/approach

A quantitative research was conducted in Manicaland province in Zimbabwe. Data were collected through structured questionnaires from 400 women entrepreneurs in various sectors. The participants were in vegetable vending, operating clothing flea markets and cross border trading. A self-administered structured questionnaire was used to collect data from respondents. Structural equation modeling in SmartPLS version 3 was used to test the research hypotheses.

Findings

The study established that women entrepreneurship is driven by financial factors, positive environmental factors, positive psychological factors as well as positive sociological factors for a sustainable rural livelihood.

Research limitations/implications

It is clear that if the discovered challenges are not addressed, sustainability of women entrepreneurship will remain a dream.

Practical implications

The study came up with strategies for improving women entrepreneurship activities. Future research can be done in other areas of provinces to avoid generalization challenges.

Social implications

Many challenges hinder the sustainability of women entrepreneurship. Major impediments to women entrepreneurship comprises inadequate support from government schemes, patriarchal societal structure of the community, lack of relevant entrepreneurial knowledge to manage businesses, lack of collateral security to access funding, time limitation or role conflict to balance family pressures and business.

Originality/value

The study recommends proper entrepreneurship education and training, supportive government schemes and access to network affiliation/connection to sustain women entrepreneurship.

Details

Arab Gulf Journal of Scientific Research, vol. 41 no. 4
Type: Research Article
ISSN: 1985-9899

Keywords

Article
Publication date: 7 February 2023

Samah Mohammed Hassis, Mohammed Azzam Othman and Yahya Saleh

This study aims at investigating the impact of total quality management (TQM) on corporate sustainability (CS) by mediating the role of corporate social responsibility (CSR) in…

Abstract

Purpose

This study aims at investigating the impact of total quality management (TQM) on corporate sustainability (CS) by mediating the role of corporate social responsibility (CSR) in developing countries.

Design/methodology/approach

A mixed research approach was adopted by conducting interviews and a survey. A survey was used as a quantitative tool for data collection from 67 respondents at different managerial levels. Partial least squares structural equation modeling (PLS-SEM) was used for analysis.

Findings

The findings demonstrate that customer focus and human resource management (HRM) were the most effective practices. Structural analysis revealed that TQM had a significant impact on CSR and CS. Furthermore, CSR partially mediates the relationship between TQM and CS.

Research limitations/implications

The study has developed a conceptual framework to provide policymakers with guidelines on integrating TQM practices and CSR activities into their strategy.

Originality/value

This research bridges the gap between TQM and the three pillars of CS, especially in manufacturing enterprises in a developing country context. This research also supports the TQM advocate's argument that effective TQM deployment can dramatically improve organizational performance. Additionally, this study verifies the CS model based on the triple bottom line (TBL) theory and stakeholder theory by assessing the conceptual model's robustness using a mixed-method research methodology, which has never been done before from a Palestinian perspective.

Article
Publication date: 5 February 2024

Rafikul Islam, Kazi Md. Tarique and Siti Salwani Razali

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this…

Abstract

Purpose

The Takāful (Islamic insurance) industry operates on the principles of Maqāṣid al-Sharī’ah, and of late, the industry has witnessed significant market growth. The purpose of this study is to develop a performance measurement model based on Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms.

Design/methodology/approach

A mixed-method research approach was adopted to conduct the present study. Priorities were assigned to various dimensions of the Maqāṣid model using analytic hierarchy process and by taking inputs from 18 Takāful experts. On the contrary, six experts were involved in identifying the elements and measures for the operationalization of the Maqāṣid dimensions.

Findings

Maṣlaḥa (0.359) was found to possess the highest priority, followed by Justice (0.345) and Educating Individuals (0.295). Furthermore, under Necessity, protection of religion (0.398) and protection of life (0.388) are assigned almost similar priorities. These two are followed by the protection of progeny (0.107), protection of wealth (0.058) and protection of intellect (0.047). The final outcome of this study is a hierarchical model for the evaluation of performance of Takāful firms.

Practical implications

The application of the performance evaluation model will provide information to the management of Takāful firms on where they stand in terms of fulfilling Maqāṣid al-Sharī’ah principles. If any firms are found to have a deficiency in a certain part of Maqāṣid components, then proper and adequate measures can be taken to ameliorate the situation.

Originality/value

It is necessary to have a performance evaluation model based upon Maqāṣid al-Sharī’ah to evaluate the performance of Takāful firms as these firms operate on the principles of Maqāṣid al-Sharī’ah. Because there does not exist any such model, this study fills up this gap. Details of the measures that can be used to evaluate the performance of Takāful firms are also provided.

Details

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

Keywords

Article
Publication date: 30 August 2023

Sneha Badola, Aditya Kumar Sahu and Amit Adlakha

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore…

Abstract

Purpose

This study aims to systematically review various behavioral biases that impact an investor’s decision-making process. The prime objective of this paper is to thematically explore the behavioral bias literature and propose a comprehensive framework that can elucidate a more reasonable explanation of changes in financial markets and investors’ behavior.

Design/methodology/approach

Systematic literature review (SLR) methodology is applied to a portfolio of 71 peer-reviewed articles collected from different electronic databases between 2007 and 2021. Content analysis of the extant literature is performed to identify the research themes and existing gaps in the literature.

Findings

This research identifies publication trends of the behavioral biases literature and uncovers 24 different biases that impact individual investors’ decision-making. Through thematic analysis, an attribute–consequence–impact framework is proposed that explains different biases leading to individual investors’ irrationality. The study further proposes directions for future research by applying the theory–characteristics–context–methodology framework.

Research limitations/implications

The results of this research will help scholars and practitioners in understanding the existence of various behavioral biases and assist them in identifying potential strategies which can evade the negative effects of these biases. The findings will further help the financial service providers to understand these biases and improve the landscape of financial services.

Originality/value

The essence of the current paper is the application of the SLR method on 24 biases in the area of behavioral finance. To the best of the authors’ knowledge, this study is the first attempt of its kind which provides a methodical and comprehensive compilation of both cognitive and emotional behavioral biases that affect the individual investor’s decision-making.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 14 November 2023

Meri Indri Hapsari, Amin Hanif Mahmud, Sri Herianingrum, R. Moh Qudsi Fauzy, Siti Ngayesah Ab. Hamid, Arka Prabaswara and Lina Mawaddatul Masfiyah

The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare…

Abstract

Purpose

The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare and, secondly, whether productivity can be a mediator to improve Islamic welfare.

Design/methodology/approach

This study involved quantitative research using data obtained from a survey. The respondents were 538 Muslim families in East Java, Indonesia. Structural equation modelling was used for the analysis.

Findings

This study tested 13 hypotheses, of which 10 were accepted. The accepted hypotheses refer to the effects of financial literacy on productivity, financial inclusion on productivity, financial planning on productivity, financial planning on Islamic welfare, education on Islamic welfare, productivity on Islamic welfare, financial literacy and productivity on Islamic welfare, financial inclusion and productivity on Islamic welfare and financial planning and productivity on Islamic welfare, as well as the effects of financial inclusion on Islamic welfare. Meanwhile, three hypotheses were not accepted; they refer to the effects of financial literacy on Islamic welfare, the effect of education on productivity, as well as the impact of education and productivity on Islamic welfare.

Research limitations/implications

The study was conducted only with respondents living in East Java, so the results depict the condition of Muslim families’ welfare in East Java.

Originality/value

Research into the antecedents of Islamic welfare has received little academic attention, so this study explores how education, financial inclusion, financial literacy, financial planning and productivity could affect Islamic welfare among Muslim families.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 17 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

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