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A decade of growth in the health food market is typified by the case of cereal bars. They have undoubtedly benefited from an increased consumer awareness about healthier ways to eat, but to what extent do consumers perceive these bars to be the “healthy alternative snack”, and how healthy are they? The results of a consumer survey (n=200) are reported which suggests that cereal bars are perceived as being healthy. Chemical analysis revealed that on sugar, fat, salt and fibre content, these bars were only marginally better than favourite traditional snacks. Sensory analysis showed that consumers much preferred cereal bars which contain chocolate but that these were not the healthiest. The gap between consumers′ perception of product benefits and actual benefits is something which should be further investigated in other products within the health food market.

Discusses the results of a consumer survey on the likes and dislikes of consumers towards breakfast cereals. Suggests a possible model of consumer behaviour to explain their preferences. The perceived risks and risk‐reducing strategies used by consumers are empirically investigated. Discusses the results in a way that highlights their usefulness to the industry′s marketers.

The increasing interest in health foods over the past decade has seen a corresponding growth in cereal bars. Consumer health awareness is helping to radically change the nation's eating habits; but how well do products in the health food market live up to expectations? Does the media portray a better nutritional value than these products warrant? Here we report the results of a pilot study which aimed to answer these questions in the cereal bar market.

The idea that risk could be a motivating factor in consumers′ choice of breakfast cereal seemed less than plausible on first consideration. However, reports an investigation of secondary sources, some focus groups and a survey of 180 shoppers which revealed that this initial reaction was unfounded and that risk appeared significant in affecting consumers′ purchasing behaviour. The most important risks were those of taste and nutritional value. The most important risk relievers were choosing a well‐known brand and obtaining free samples. The findings seem to support the high advertising spends characteristic of the market, but question the widespread use of celebrity endorsements.

Since 1960, perceived risk has been of interest to marketing academics. Their interest in the consumer decision‐making process considerably predates this, but interest in how risk varies during the process has not been so prevalent and many studies have assumed that perceived risk remains constant throughout the buying process. Tests this assumption in a study of 180 breakfast cereal shoppers, half of whom were interviewed prior to purchase and half immediately after. The results showed that risk perceptions and risk‐reducing strategy usefulness did vary between the two states. The differences were not large, but were sufficient to allow rejection of the proposed null hypothesis and to cast doubt on the assumptions made in many studies.

This study aims to analyze three major defaults on Sukuk since 2007. These case studies make clear that, in most cases, the problems can be traced back to clauses and structures that made the Sukuk more like conventional bonds. The case studies highlighted the importance of the legal institutions of the country where ownership rights are likely to be contested. Strict adherence to Shariah (Islamic Jurisprudence) principles would have considerably simplified restructuring because Shariah compliance implies a clear allocation of property rights: in Sukuk, investors will receive full title to the underlying Sukuk assets in distress situations.

The study follows a qualitative research method base on detailed case studies of the Sukuk defaults occurred in the aftermath of financial crises 2007. The focus in this paper is on the resolution process following default, not on the reasons why the default was triggered to begin with. The authors analyze the Sukuk defaults from an Islamic finance perspective. Specifically, after providing basic information on each Sukuk (issuer, arranger, SPV, term period, rate of return, etc.), the authors present an exposition of the underlying contracts of each Sukuk, their structure, reasons for defaults and restructuring process thereafter. Finally, the authors provide a discussion on the critical issues related to Sukuk structures, namely, ownership of underlying Sukuk assets, rights of the investors including recourse, if any, to core assets in case of distress, risk factors including legal and Shariah risks regarding Sukuk structures, purchase undertakings and credit enhancements.

The case studies highlighted the importance of the legal institutions of the country where ownership rights are likely to be contested. Interestingly enough, strict adherence to Shariah (Islamic Jurisprudence) principles would have considerably simplified restructuring because Shariah compliance implies a clear allocation of property rights: in Sukuk, investors will receive full title to the underlying Sukuk assets in distress situations. So, the answer to the question the authors asked, is Islamic Finance failing to deliver on its promises, is a qualified no.

The paper provides in depth analysis of the Sukuk defaults and provide the main reasons for that along with recommendations that compliance to Shariah principles of ownership and risk sharing would reduce incidence of defaults and facilitates restructuring.