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Article
Publication date: 19 June 2021

Fahru Azwa Mohd Zain, Wan Amalina Wan Abdullah and Majella Percy

This paper aims to determine the role governance plays in the voluntary adoption of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI…

Abstract

Purpose

This paper aims to determine the role governance plays in the voluntary adoption of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Disclosure Standards by Islamic insurance (takaful) operators in the Southeast Asia (SEA) and the Gulf Cooperation Council (GCC) regions.

Design/methodology/approach

This study uses a sample of 44 takaful operators in the SEA and the GCC regions. While corporate governance (CG) strength is measured by the use of the frequently examined variables of the board of directors and audit committee, Shari’ah governance strength is measured by the characteristics of the Shari’ah Supervisory Board (SSB). Content analysis is used to extract disclosure items from the 2014 annual reports. Agency theory, stakeholder theory and political economy theory are argued to support the hypotheses.

Findings

The results show that CG strength has a positive and significant effect on the voluntary adoption of AAOIFI Disclosure Standards by takaful operators, indicating that CG plays an important role in the disclosure of information in the annual reports of takaful operators. However, the results show a lack of association between SSB strength and voluntary adoption of AAOIFI Disclosure Standards. Our results suggest that the SSBs may not be as involved as the other CG mechanisms (such as a board of directors and audit committees) in reviewing financial reports. On another note, the level of the political right and civil liberties has a negative and significant effect on the voluntary adoption of AAOIFI Disclosure Standards, providing an indication that stakeholders in a community with greater freedom tend to be more active in pressuring takaful operators to provide more information to justify their existence in the community. Similar to SSB strength, the legal system is also found to have no significant association with the voluntary adoption of the AAOIFI disclosure standards.

Practical implications

This study provides stakeholders with a tool to evaluate the effectiveness of the governance role in increasing the transparency of takaful operators by examining the governance factors using a self-constructed disclosure index.

Originality/value

Our study is among the first to provide an in-depth analysis of voluntary adoption of AAOIFI Disclosure Standards for takaful operators in these two regions; therefore, this study has implications for regulators and standard setters. The findings of this study are expected to provide information to regulators and standard setters on the role of governance in improving the transparency of takaful operators.

Details

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

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Article
Publication date: 15 June 2021

Bushra Batool, Saleem Abdullah, Shahzaib Ashraf and Mumtaz Ahmad

This is mainly because the restrictive condition of intuitionistic hesitant fuzzy number (IHFN) is relaxed by the membership functions of Pythagorean probabilistic…

Abstract

Purpose

This is mainly because the restrictive condition of intuitionistic hesitant fuzzy number (IHFN) is relaxed by the membership functions of Pythagorean probabilistic hesitant fuzzy number (PyPHFN), so the range of domain value of PyPHFN is greatly expanded. The paper aims to develop a novel decision-making technique based on aggregation operators under PyPHFNs. For this, the authors propose Algebraic operational laws using algebraic norm for PyPHFNs. Furthermore, a list of aggregation operators, namely Pythagorean probabilistic hesitant fuzzy weighted average (PyPHFWA) operator, Pythagorean probabilistic hesitant fuzzy weighted geometric (PyPHFWG) operator, Pythagorean probabilistic hesitant fuzzy ordered weighted average (PyPHFOWA) operator, Pythagorean probabilistic hesitant fuzzy ordered weighted geometric (PyPHFOWG) operator, Pythagorean probabilistic hesitant fuzzy hybrid weighted average (PyPHFHWA) operator and Pythagorean probabilistic hesitant fuzzy hybrid weighted geometric (PyPHFHWG) operator, are proposed based on the defined algebraic operational laws. Also, interesting properties of these aggregation operators are discussed in detail.

Design/methodology/approach

PyPHFN is not only a generalization of the traditional IHFN, but also a more effective tool to deal with uncertain multi-attribute decision-making problems.

Findings

In addition, the authors design the algorithm to handle the uncertainty in emergency decision-making issues. At last, a numerical case study of coronavirus disease 2019 (COVID-19) as an emergency decision-making is introduced to show the implementation and validity of the established technique. Besides, the comparison of the existing and the proposed technique is established to show the effectiveness and validity of the established technique.

Originality/value

Paper is original and not submitted elsewhere.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 1 February 2016

Wei Meng, Qian Li and Bo Zeng

The purpose of this paper is to derive the analytical expression of fractional order reducing generation operator (or inverse accumulating generating operation) and study…

Abstract

Purpose

The purpose of this paper is to derive the analytical expression of fractional order reducing generation operator (or inverse accumulating generating operation) and study its properties.

Design/methodology/approach

This disaggregation method includes three main steps. First, by utilizing Gamma function expanded for integer factorial, this paper expands one order reducing generation operator into integer order reducing generation operator and fractional order reducing generation operator, and gives the analytical expression of fractional order reducing generation operator. Then, studies the commutative law and exponential law of fractional order reducing generation operator. Lastly, gives several examples of fractional order reducing generation operator and verifies the commutative law and exponential law of fractional order reducing generation operator.

Findings

The authors pull the analytical expression of fractional order reducing generation operator and verify that fractional order reducing generation operator satisfies commutative law and exponential law.

Practical implications

Expanding the reducing generation operator would help develop grey prediction model with fractional order operators and widen the application fields of grey prediction models.

Originality/value

The analytical expression of fractional order reducing generation operator, properties of commutative law and exponential law for fractional order reducing generation operator are first studied.

Details

Grey Systems: Theory and Application, vol. 6 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 5 February 2018

Tianxiang Yao and Hong Gao

Buffer operators can be utilized to improve the smooth degree of the raw data sequence, and to increase the simulation accuracy of the model. The purpose of this paper is…

Abstract

Purpose

Buffer operators can be utilized to improve the smooth degree of the raw data sequence, and to increase the simulation accuracy of the model. The purpose of this paper is to analyze the cause of increase in the simulation accuracy of the buffer operator.

Design/methodology/approach

This paper probed into the modeling mechanism of several typical buffer operators such as the arithmetic buffer operators, the buffer operators with monotonic function and weighted buffer operators. The paper also gives an example of the buffer operator sequence.

Findings

The results indicate that after applying an infinite buffer operator, whether the authors adopt a weakening buffer operator or a strengthen buffer operator, the raw sequence can be changed into a constant sequence. Because the discrete GM(1,1) model can completely simulate constant sequence, the simulation accuracy is 100 percent. Because the discrete GM(1,1) model is the accurate form of the GM(1,1) model, after applying an infinite buffer operator, the GM(1,1) model can have a very high simulation accuracy. The buffer operator model can increase the simulation accuracy of both the GM(1,1) model and the discrete GM(1,1) model.

Originality/value

The paper analyses the cause of increasing simulation accuracy of the buffer operator model. The paper may indicate that possible results can be studied in the future. All the buffer operator models have similar properties. After applying an infinite buffer operator, the raw sequence can be changed into a constant sequence. A fixed-point axiom may be the basic cause.

Details

Grey Systems: Theory and Application, vol. 8 no. 1
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 24 March 2021

Jawad Ali, Zia Bashir and Tabasam Rashid

The purpose of the development of the paper is to construct probabilistic interval-valued hesitant fuzzy Technique for Order Preference by Similarity to an Ideal Solution…

Abstract

Purpose

The purpose of the development of the paper is to construct probabilistic interval-valued hesitant fuzzy Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) model and to improve some preliminary aggregation operators such as probabilistic interval-valued hesitant fuzzy averaging (PIVHFA) operator, probabilistic interval-valued hesitant fuzzy geometric (PIVHFG) operator, probabilistic interval-valued hesitant fuzzy weighted averaging (PIVHFWA) operator, probabilistic interval-valued hesitant fuzzy ordered weighted averaging (PIVHFOWA) operator, probabilistic interval-valued hesitant fuzzy weighted geometric (PIVHFWG) operator and probabilistic interval-valued hesitant fuzzy ordered weighted geometric (PIVHFOWG) operator to cope with multicriteria group decision-making (MCGDM) problems in an efficient manner.

Design/methodology/approach

(1) To design probabilistic interval-valued hesitant fuzzy TOPSIS model. (2) To improve some of the existing aggregation operators. (3) To propose the Hamming distance, Euclidean distance, Hausdorff distance and generalized distance between probabilistic interval-valued hesitant fuzzy sets (PIVHFSs).

Findings

The results of the proposed model are discussed in comparison with the aggregation-based method from the related literature and found the effectiveness of the proposed model and improved aggregation operators.

Practical implications

A case study concerning the healthcare facilities in public hospital is addressed.

Originality/value

The notion of the proposed distance measure is used as rational tool to extend TOPSIS model for probabilistic interval-valued hesitant fuzzy setting.

Details

Grey Systems: Theory and Application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 19 August 2011

Yong Wei, Xin‐hai Kong and Da‐hong Hu

The purpose of this paper is to perfect the axiom systems of buffer operator via adding the axiom of invariable trend.

Abstract

Purpose

The purpose of this paper is to perfect the axiom systems of buffer operator via adding the axiom of invariable trend.

Design/methodology/approach

Based on the three axioms of buffer operator, for any given data sequence of system behavior and any set of data satisfying the axiom of fixed point, it is proved that there always exists a buffer operator satisfying that the set of data is the buffer sequence of the given data sequence, and a specific constructor method of buffer operator is provided. Finally, the axiom of invariable trend is proposed to add in the axiom systems of buffer operator.

Findings

The results are convincing that although the raw sequence suffered from certain disturbance may be enlarged or reduced, the trend is in line with the original law. All predictions must be on the premise of this trend to forecast, or prediction will be considered invalid.

Practical implications

The method exposed in the paper can be used to construct a specific buffer operator between two sequences satisfying the axiom of fixed point.

Originality/value

The paper succeeds in providing a kind of universal constructor method for buffer operator, and adding the axiom of invariable trend to perfect the axiom systems of buffer operator and ensure the consistency of variation trend between the predicted values and the actual values.

Details

Grey Systems: Theory and Application, vol. 1 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 1 February 1992

R. Racine, C. Chen and F. Swift

Illustrates the need for incorporating time‐phased operator efficiency levels in apparel production plans. Presents a list of factors which predict how long it will take…

Abstract

Illustrates the need for incorporating time‐phased operator efficiency levels in apparel production plans. Presents a list of factors which predict how long it will take an operator to learn a sewing operation. Describes prediction models which use these factors to estimate time‐phased operator performance under different conditions.

Details

International Journal of Clothing Science and Technology, vol. 4 no. 2/3
Type: Research Article
ISSN: 0955-6222

Keywords

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Article
Publication date: 19 August 2011

Dang Luo and Xia Wang

According to the basic principle of grey system and third axiom buffer operator, aiming at the problem of disturbance, some new weakening buffer operators are established…

Abstract

Purpose

According to the basic principle of grey system and third axiom buffer operator, aiming at the problem of disturbance, some new weakening buffer operators are established by analytical skills in the process of prediction. The problem of some contradictions between quantitative analysis and qualitative analysis existing in pretreatment for vibration data sequences is resolved effectively. An example shows that the kind of new weakening buffer operators increase the forecast precision of data forecast model remarkably. The aim of this paper is to attempt to resolve the problem of some contradictions between quantitative analysis and qualitative analysis existing in pretreatment for vibration data sequences.

Design/methodology/approach

In view of the problem of some contradictions between quantitative analysis and qualitative analysis existing in pretreatment for vibration data sequences, according to the basic principle of grey system and third axiom buffer operator, some new weakening buffer operators are established by analytical skills. As an example, the kind of new weakening buffer operators can increase the forecast precision of data forecast model remarkably.

Findings

The results show that the new weakening buffer operators can increase the forecast precision of data forecast model remarkably.

Practical implications

The new weakening buffer operators exposed in the paper can be used to resolve the problem of some contradictions between quantitative analysis and qualitative analysis existing in pretreatment for vibration data sequences and increase the forecast precision of data forecast model remarkably.

Originality/value

The paper succeeds in increasing the forecast precision of data forecast model remarkably.

Details

Grey Systems: Theory and Application, vol. 1 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

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Article
Publication date: 7 November 2016

Sifeng Liu, Naiming Xie, Yingjie Yang and Jeffrey Forrest

The purpose of this paper is to present the terms of sequence operators and grey data mining.

Abstract

Purpose

The purpose of this paper is to present the terms of sequence operators and grey data mining.

Design/methodology/approach

The definitions of basic terms about sequence operators and grey data mining are presented one by one.

Findings

The reader could know the basic explanation about the important terms about sequence operators and grey data mining from this paper.

Practical implications

Many of the colleagues thought that unified definitions of key terms would be beneficial for both the readers and the authors.

Originality/value

It is a fundamental work to standardize all the definitions of terms for a new discipline. It is also propitious to spread the universal principles of grey system theory.

Details

Grey Systems: Theory and Application, vol. 6 no. 3
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 1 September 1997

George C. Hadjinicola and Chryso Panayi

Examines the practice of overbooking at hotel and tour operator levels. By accepting more reservations than their available capacity, hotels hedge against the problem of…

Abstract

Examines the practice of overbooking at hotel and tour operator levels. By accepting more reservations than their available capacity, hotels hedge against the problem of cancellations. Hotels located in popular tourist resorts, allocate their capacity to multiple tour‐operators who through the vacation packages they offer, fill the hotels’ capacity. Shows that for this type of hotel, an overbooking policy applied at the hotel level and derived using the capacity of the hotel as a whole, gives better cost savings than when formulating an overbooking policy for each tour‐operator separately. The result of the analysis provides significant managerial implications since a hotel dealing with multiple tour‐operators, in devising its overbooking policy needs only to consider the occupancy of the hotel as a whole and not the performance of each tour‐operator. This simplicity is further reflected in the reduction of information required to be recorded.

Details

International Journal of Operations & Production Management, vol. 17 no. 9
Type: Research Article
ISSN: 0144-3577

Keywords

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