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Article
Publication date: 27 November 2018

Said Sami Al Hallaq, Mohamad M. Ajlouni and Ahmed Shakir Al-Douri

With reference to the methodology of Prof Choudhry in his book “Tawhidi Epistemology and its Applications: Economics, Finance, Science, and Society” in 2014, in a different…

Abstract

Purpose

With reference to the methodology of Prof Choudhry in his book “Tawhidi Epistemology and its Applications: Economics, Finance, Science, and Society” in 2014, in a different context, this study aims to present the conceptual fundamental of Islamic finance investment, where investment decisions are governed by Divine law and Islamic jurisprudence, followed by the empirical nature of real-world issues where investment decisions are governed by only financial indicators, using the Amman Stock Exchange as a case study.

Design/methodology/approach

As pointed out by Raderbauer (2011), research and industry initiatives mainly focus on environmental measures while ignoring the economic and socio-cultural dimension of sustainability. Recognizing the importance of a holistic understanding to define sustainable business practices for the accommodation industry. Financial markets are no exception; moral and values either coming from secular or religious understanding help to examine relationships between attitudes and actions, as well as differences in attitudes and actions related to the business’ characteristics. In business, ethical considerations apply to a broad list of virtues that companies, their managers and employees customarily seek to adopt. These include, but are not limited to, the encouragement of honesty, integrity and efficiency, as well as diversity and communication skills. One of the most common sources of ethical considerations is religion. In these cases, religious doctrine imparts a sense of applied ethics, where one considers what right conduct is, how to live a life pleasing to the Divine and how one should treat him/herself and others in accordance with those teachings. Again, as ethical considerations is a broad philosophical concept, it can apply to any situation where the person ponders the nature of right and wrong, how to recognize the difference and the meaning those conclusions carry for everyday life.

Findings

It can be concluded that the overall the quantitative and qualitative statistics showed that accommodation business manager’s decision has had a very little positive attitude toward sustainability and the implementation of sustainable business practices in ASE financial transaction, no matter what classification, type of business, ownership or size of business. Only rules and regulations govern the attitude and behavior when making financial transactions with profit is the main target. Moral indicators could not be seen throughout the analysis and test used to achieve objectives of the study at hand. One can imagine that the combined two factors together “Moral-Material” in implementing financial transactions will produce a more beneficial outcome. Achieving a material and holistic objective will produce an optimum situation, which can contribute positively to sustainable development.

Originality/value

Islamic alternatives to traditional investment tools have been driven by the fact that such tools do not conform to the Islamic general principles of the Shari’ah (Usmani, 2002). There has been a growing desire to have funds in which profits are not based on riba or interest, which is prohibited in Islam. Muslims deem that profit should come because of efforts; this is not the case in interest-dominated investments. In addition, there is a desire to have investment portfolios, which are morally purified. Thus, investments in companies that are not in compliance with the Shari’ah are not permitted and are eliminated from the portfolio. To ensure compliance with the forgoing condition, Shari’ah advisory boards whose role is mainly to give assurance that money is managed within the framework of Islamic laws govern Islamic mutual funds (Hassan, 2001; Hassan, 2002). On the other hand, dealing with the applied part, the paper will deal with a case study from Jordan (Amman Stock Exchange), where, code of ethics is issued by virtue of the provisions of Article 26 (e) of the Securities Law No. 23 of 1997. The Amman Stock Exchange operates as an exchange for the trading of securities. The company lists securities such as equities and bonds. Its activities include providing enterprises with a means of raising capital by listing on the exchange; encouraging an active market in listed securities based on the determination of prices and trading; providing facilities and equipment for trading the recoding of trades and publication of prices; monitoring and regulating market trading; and coordinating with the Jordan Securities Commission as necessary. The company’s activities also include ensuring compliance with the law, fair market and investor protection; setting out and enforcing a professional code of ethics.

Details

International Journal of Ethics and Systems, vol. 35 no. 1
Type: Research Article
ISSN: 0828-8666

Keywords

Book part
Publication date: 17 September 2014

Lili Zhao

This chapter aims to examine the introduction and development of the concept of corporate social responsibility (CSR) within a Chinese social, cultural, and political context. It…

Abstract

Purpose

This chapter aims to examine the introduction and development of the concept of corporate social responsibility (CSR) within a Chinese social, cultural, and political context. It mainly looks at the CSR movement in China in order to explain how the traditional values of Confucianism contributed to the development of CSR discourse which is similar to and differs from some other countries in North America and Europe.

Design/methodology/approach

The chapter is primarily theoretical in perspective. It also adopts a discourse approach, specifically Fairclough’s three-step approach by drawing upon a large state-owned corporate group’s website documents and interview data in order to create new meanings of Chinese CSR shaped by Confucian moral philosophy.

Findings

The chapter argues that development of Chinese CSR theory incorporates a revival of Confucian moral philosophy into modern Western business management philosophy. It demonstrates a hybrid model for CSR practices which combine aspects of both Confucian business ethics and Western CSR theory.

Research limitations/implications

The research results are valid for state-owned enterprises and may not be generalized to other types of Chinese businesses such as private-owned enterprises and small business enterprises. Further research is needed to develop comparisons.

Practical implications

The chapter suggests a people-oriented leadership style which emphasizes the importance of people in the organization and is proven to be successful in the improvement of employee well-being and organizational productivity.

Originality/value

The originality of introducing interview data offers a benchmark for the study of CSR discourse in Chinese context. The chapter also provides a guide for business managers to design the strategies based on their own countries’ cultural, political, social, and institutional framework.

Details

Corporate Social Responsibility and Sustainability: Emerging Trends in Developing Economies
Type: Book
ISBN: 978-1-78441-152-7

Keywords

Article
Publication date: 2 December 2020

Donia M. Bettaieb and Reem Alsabban

The COVID-19 pandemic resulted in the compulsory quarantine of many of the world's inhabitants, and by staying at home, several functional developments emerged in residential…

5047

Abstract

Purpose

The COVID-19 pandemic resulted in the compulsory quarantine of many of the world's inhabitants, and by staying at home, several functional developments emerged in residential spaces in Jeddah that affected the role of the house as a contributor to individuals' quality of life under the pressures of quarantine. Given the necessity of the apartments to adapt to these emerging developments, this study explores the determinants associated with the flexibility of residential apartments by looking at the extent to which they meet the new psychological, social and cultural roles required by their users post-COVID-19.

Design/methodology/approach

The qualitative approach (1) extracted concepts related to the flexibility of housing from the available literature and (2) extrapolated the flexibility of the residential apartments from the participants' study (12 families) in different areas of Jeddah by analyzing the results of targeted interviews.

Findings

There is a gap in the participant's understanding of the quality of housing and the level of satisfaction with a housing design that differs before and after their quarantine experience. The participant's adaptation to self-quarantine was mainly through furniture distribution, and housing flexibility was less reliant on the physical transformation of the place than on the change in the inhabitants' perceptions. There was an indication that the deficiencies of flexibility in design relates to the functional, cultural and structural aspects of residential buildings.

Originality/value

This study generated suggestions to develop the foundations for flexible housing design and activate its role under the post-quarantine context according to social and cultural variables. Some proposals should become future requirements for residential apartments to benefit officials and stakeholders to develop housing flexibility.

Details

Archnet-IJAR: International Journal of Architectural Research, vol. 15 no. 1
Type: Research Article
ISSN: 2631-6862

Keywords

Article
Publication date: 1 March 1992

John Conway O'Brien

A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society enduring…

1134

Abstract

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Details

International Journal of Social Economics, vol. 19 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 April 1982

“Communism has never concealed the fact that it rejects all absolute concepts of morality. It scoffs at any consideration of “good” and “evil” as indisputable categories…

Abstract

“Communism has never concealed the fact that it rejects all absolute concepts of morality. It scoffs at any consideration of “good” and “evil” as indisputable categories. Communism considers morality to be relative, to be a class matter… It has infected the whole world with the belief in the relativity of good and evil.” Aleksandr I. Solzhenitsyn, Warning to the West, 1975.

Details

International Journal of Social Economics, vol. 9 no. 4
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely…

2554

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Book part
Publication date: 6 May 2003

Mary Jane Rootes

Robert Hauptman first raised awareness about the ethical issues of reference service in 1976. Hauptman, a library school student at the time, did a study on the culpability, or…

Abstract

Robert Hauptman first raised awareness about the ethical issues of reference service in 1976. Hauptman, a library school student at the time, did a study on the culpability, or lack thereof, in reference service provided by librarians. In his study, Hauptman posed as a library patron seeking potentially dangerous information. The behavior examined was how librarians respond to the request for material on how to build a bomb that would be powerful enough to blow up a house. Hauptman tried to present himself as a person of questionable character. He used six public and seven academic libraries in this study. Hauptman first made sure that he was speaking to the reference librarian. He then requested information for the construction of a small explosive, requesting specifically the chemical properties of cordite. He then asked for information on the potency of such an explosive, whether or not it could blow up a suburban house (Hauptman, Wilson Library Bulletin, 1976, p. 626).

Details

Advances in Library Administration and Organization
Type: Book
ISBN: 978-1-84950-206-1

Abstract

Details

Understanding Intercultural Interaction: An Analysis of Key Concepts, 2nd Edition
Type: Book
ISBN: 978-1-83753-438-8

Article
Publication date: 1 October 1987

John E. Elliott

In several previous papers, the present author has examined Marx's view of the future, post‐capitalist society, but without systematic consideration of moral or ethical issues…

Abstract

In several previous papers, the present author has examined Marx's view of the future, post‐capitalist society, but without systematic consideration of moral or ethical issues (Elliott, 1976, 1978, 1980, 1986; Elliott and Scott, 1986). In recent papers, moral and ethical dimensions of Marx's critique of capitalist society have been studied (Elliott, 1986a, 1987). This article endeavours to link and synthesise these two lines of inquiry by expressly identifying moral and ethical aspects of Marx's vision of the future society and connecting those considerations to his socio‐economic and socio‐historical perspective on capitalism.

Details

International Journal of Social Economics, vol. 14 no. 10
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 1 December 1995

William B. Wolf

Presents the thoughts on decision processes of Chester I. Barnard, one of the century’s greatest management theorists. Includes his classic article, “Mind in everyday affairs”;…

1949

Abstract

Presents the thoughts on decision processes of Chester I. Barnard, one of the century’s greatest management theorists. Includes his classic article, “Mind in everyday affairs”; his unpublished book, “The Significance of Decisive Behaviour in Social Action”; his correspondence with Herbert Simon, and significant comments found in his personal papers.

Details

Journal of Management History, vol. 1 no. 4
Type: Research Article
ISSN: 1355-252X

Keywords

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