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1 – 7 of 7Ahmad Hidayat bin Md Nor, Aishath Muneeza and Magda Mohsin
This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and…
Abstract
Purpose
This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages.
Design/methodology/approach
The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions.
Findings
This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards.
Originality/value
The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.
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In the aftermath of the Supreme Court’s 2023 decision to effectively end race-conscious admissions practices across the nation, this paper highlights the law’s commitment to…
Abstract
Purpose
In the aftermath of the Supreme Court’s 2023 decision to effectively end race-conscious admissions practices across the nation, this paper highlights the law’s commitment to whiteness and antiblackness, invites us to mourn and to connect to possibility.
Design/methodology/approach
Drawing from the theoretical contributions of Cheryl Harris, Jarvis Givens and Chezare Warren, as well as the wisdom of Justice Ketanji Brown Jackson’s dissenting opinion, this paper utilizes CRT composite counterstory methodology to illuminate the antiblack reality of facially “race-neutral” admissions.
Findings
By manifesting the impossible situation that SFFA and the Supreme Court’s majority seek to normalize, the composite counterstory illuminates how Justice Jackson’s hypothetical enacts a fugitive pedagogy within a dominant legal system committed to whiteness as property; invites us to mourn, to connect to possibility and to remain committed to freedom as an intergenerational project that is inherently humanizing.
Originality/value
In a sobering moment where we face the end of race-conscious admissions, this paper uniquely grapples with the contradictions of affirmative action as minimally effective while also radically disruptive.
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Siti Hafsah Zulkarnain and Abdol Samad Nawi
The purpose of this study is to analyse numerous aspects affecting residential property price in Malaysia against macroeconomics issues such as gross domestic product (GDP)…
Abstract
Purpose
The purpose of this study is to analyse numerous aspects affecting residential property price in Malaysia against macroeconomics issues such as gross domestic product (GDP), exchange rate, unemployment and wage.
Design/methodology/approach
The hedonic pricing model has been adopted as econometric model for this research to investigate the relationship between residential property price against macroeconomics indicator. The data for residential property price and macroeconomic variables were collected from 1991 to 2019. Multiple linear regression had been adopted to find the relationship between the dependent and independent variables.
Findings
The result shows that the GDP has a significant positive impact on residential property price, while exchange rate has no significant impact although it was positive. In addition, the unemployment rate has a significant impact on the residential property price and has a negative relationship. Similar to the wage that shows the negative relationship with residential property prices. Moreover, during the pandemic COVID-19 in Malaysia, this research shows a more transparent view of the relationship between residential property price and the macroeconomic issues of GDP, exchange rate, unemployment and wage.
Originality/value
The findings of this research found that macroeconomics issue cannot be eliminated due to Malaysia is a developing country, and there will always be an issue that will happen, but the issues can be reduced to maximise the advantages, e.g. during COVID-19, the solution to fight against COVID-19 were crucial and weaken the macroeconomics issues.
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Calvin W.H. Cheong and Ling-Foon Chan
This study aims to investigate the impact of corporate diversification and growth opportunities on the performance of real estate investment trusts (REIT) in Malaysia and…
Abstract
Purpose
This study aims to investigate the impact of corporate diversification and growth opportunities on the performance of real estate investment trusts (REIT) in Malaysia and Singapore before and during the pandemic.
Design/methodology/approach
The sample consists of 33 public-listed REITs across Singapore and Malaysia. A dynamic panel system generalized method of moments (DPS-GMM) estimation is used to account for unobservable factors and a relatively short sample period (2009–2022).
Findings
Results indicate that the impact of diversification is contingent on the market where the REIT is based and other institutional factors. The estimates also show that diversified REITs are better able to weather period of economic uncertainty.
Practical implications
We provided a definitive answer as to why corporate diversification leads to conflicting outcomes – market and institutional factors, strategic intent and the overall economic environment. We also show that the impact of typical firm controls (i.e. free cash, size) can differ. Future firm-level work should thus study similar phenomenon more contextually and carefully consider these varying effects.
Originality/value
The literature is divided on the impact of diversification on firm performance. By using a two-country sample, we show conclusive evidence that this contradictory outcome is due to market and institutional factors. We also show evidence that strategic intent is an important factor that influences the outcomes of diversification, regardless of market. We also infer that excess cash aids the resilience of the firm, contrary to the negative perception of excess cash during normal times. Firm size, in contrast, does not contribute to firm performance during a crisis.
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Barney G. Pacheco and Marvin H. Pacheco
The global impact of the COVID-19 pandemic has been well documented, but there is still limited insight into the complex interaction of factors that determine its longer-term…
Abstract
Purpose
The global impact of the COVID-19 pandemic has been well documented, but there is still limited insight into the complex interaction of factors that determine its longer-term effects on the most vulnerable sectors of society. The current study therefore develops an integrated conceptual framework to investigate how consumers' fear of mortality and the perceived risk of severe illness associated with COVID-19 act as critical determinants of consumer food choices and perceived well-being.
Design/methodology/approach
An online survey was utilized to collect data from a sample of 407 adult, low-income consumers across Trinidad and Tobago. The PROCESS macro was used to empirically test the hypothesized relationships in a moderated mediation model.
Findings
The results confirm that an increase in the perceived risk of severe illness has a significant negative effect on the consumption of healthy foods and perceived well-being. Moreover, consumers' choice of healthy foods mediates the negative relationship between consumers' perceived risk of severe COVID-19 illness and subjective well-being. Finally, the negative relationship between perceived risk of illness and healthy food choice weakens as an individual's fear of pandemic-related mortality increases.
Originality/value
This research integrates multiple related theoretical constructs to provide a more nuanced understanding of the lingering impact that risk perceptions and fear have on consumer food choices and associated well-being among a vulnerable Caribbean population. The changes identified have important implications for researchers interested in consumer food preferences as well as policymakers seeking to promote a healthy lifestyle among individuals coping with psychologically stressful circumstances.
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Yeva Nersisyan and L. Randall Wray
In this paper, the authors examine the causes of 2021–2023 inflation and evaluate whether raising interest rates is the right solution.
Abstract
Purpose
In this paper, the authors examine the causes of 2021–2023 inflation and evaluate whether raising interest rates is the right solution.
Design/methodology/approach
The authors evaluate both the macroeconomic (too much demand) and microeconomic (monopoly pricing and supply chains) explanations for the causes of inflation.
Findings
The authors argue that the spike in inflation is due to disrupted supply chains and corporations taking advantage of the situation to raise their prices. The aggregate demand stimulus from fiscal policy had all but played out by the time inflation arose, making it an unlikely cause of said inflation.
Originality/value
The authors' paper demonstrates that raising interest rates is the wrong solution to tackling the problem of inflation, especially since it's coming from the supply side.
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Salma Husna Zamani, Rahimi A. Rahman, Muhammad Ashraf Fauzi and Liyana Mohamed Yusof
Policymakers are developing government-level pandemic response strategies (GPRS) to assist architecture, engineering and construction (AEC) enterprises. However, the effectiveness…
Abstract
Purpose
Policymakers are developing government-level pandemic response strategies (GPRS) to assist architecture, engineering and construction (AEC) enterprises. However, the effectiveness of the GPRS has not been assessed. Therefore, this study aims to investigate the interrelationships between GPRS and AEC enterprises. To achieve that aim, the study objectives are to compare GPRS effectiveness between small-medium and large AEC enterprises, develop groupings to categorize interrelated GPRS and evaluate the effectiveness of the GPRS and interrelated constructs.
Design/methodology/approach
A systematic literature review and semi-structured interviews with 40 AEC industry professionals were carried out, generating 22 GPRS. Then, questionnaire survey data was collected among AEC professionals. In total, 114 valid survey answers were received and analyzed using the Kruskal–Wallis H test, normalized mean analysis, factor analysis and fuzzy synthetic evaluation.
Findings
Small-medium enterprises have four distinct critical GPRS: “form a special task force to provide support in maneuvering COVID-19,” “provide infrastructure investment budgets to local governments,” “develop employee assistance programs that fit all types of working groups” and “diversify existing supply chain.” Large enterprises have two distinct critical GPRS: “provide help in digitalizing existing construction projects” and “mandate COVID-19 as force majeure.” Eighteen GPRS can be categorized into the following five constructs: “market stability and financial aid,” “enterprise capability management,” “supply chain improvement,” “law and policy resources” and “information and workforce management.” The former two constructs are more effective than other GPRS constructs.
Originality/value
This is the first paper that evaluates the effectiveness of GPRS for AEC enterprises, providing new evidence to policymakers for well-informed decision-making in developing pandemic response strategies.
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