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Article
Publication date: 1 April 2024

Ahmad 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.

Details

International Journal of Law and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1754-243X

Keywords

Book part
Publication date: 4 April 2024

Kwang-Jing Yii, Zi-Han Soh, Lin-Hui Chia, Khoo Shiang-Lin Jaslyn, Lok-Yew Chong and Zi-Chong Fu

In the stock market, herding behavior occurs when investors mimic the actions of others in their investment decisions. As a result, the market becomes inefficient and speculative…

Abstract

In the stock market, herding behavior occurs when investors mimic the actions of others in their investment decisions. As a result, the market becomes inefficient and speculative bubbles form. This study aims to investigate the relationship between information, overconfidence, market sentiment, experience and national culture, and herding behavior among Malaysian investors. A total of 400 questionnaires are distributed to bank institutions' investors. The survey design based on cross-sectional data is analyzed using the Partial Least Squares Structural Equation Model. The results indicate that information, market sentiment, experience, and national culture are positively related to herding behavior, while overconfidence has no effect. With this, the government should strengthen regulations to prevent the dissemination of misleading information. Moreover, investors are encouraged to overcome narrow thinking by expanding their understanding of different cultures when making investment decisions.

Details

Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

Keywords

Article
Publication date: 14 February 2024

Jia Xiong and Kei Wei Chia

Given the scarcity of studies regarding religious food as a destination attraction and limited research on tourist halal food experience, this study aims to explore and compare…

Abstract

Purpose

Given the scarcity of studies regarding religious food as a destination attraction and limited research on tourist halal food experience, this study aims to explore and compare halal food experience perceived by Muslim and non-Muslim tourists in a non-Islamic destination.

Design/methodology/approach

This study was carried out in a halal food street in Yuanjia Village, China. It used a qualitative approach and interviewed 16 Muslim tourists and 20 non-Muslim tourists.

Findings

Six themes and 18 attributes of halal food experience were identified. The findings revealed that Muslim tourists saw the reassuring options and religious value of halal food as important experiences. By contrast, the experiences of abundant choices, value for money, sensory pleasure and unique charm were frequently mentioned by non-Muslim tourists. The nature of halal food, the context of China (i.e. Chinese halal food culture) and the feature of research site (i.e. food operation of Yuanjia Village) work together to create such experiences.

Originality/value

To the best of the authors’ knowledge, this is one of the first studies to explore and compare halal food experiences of Muslim and non-Muslim tourists in a non-Islamic country (China). This study suggests that halal food could be an appealing destination attraction, even in non-Islamic destinations. Thus, this study contributes to a better understanding of the halal food experiences and assists destination marketers in promoting halal food.

Details

Journal of Islamic Marketing, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 26 February 2024

Ibraheem Saleh Al Koliby, Nurul Aini Binti Mehat, Abdullah Kaid Al-Swidi and Mohammed A. Al-Hakimi

By combining relevant literature and using quantitative methodology, this study aims to look into the role of knowledge management (KM) as a mediator between entrepreneurial…

Abstract

Purpose

By combining relevant literature and using quantitative methodology, this study aims to look into the role of knowledge management (KM) as a mediator between entrepreneurial competencies (ECs) and the sustainable performance (SP) of manufacturing small and medium-sized enterprises (SMEs).

Design/methodology/approach

The relationships in the proposed model were examined with data collected from 122 Malaysian SMEs using a cross-sectional technique and a standardized questionnaire and analyzed using structural equation modeling path analysis.

Findings

According to the findings, ECs have a positive and considerable impact on KM as well as the SP of manufacturing SMEs. Importantly, KM partially mediates between ECs and the SP of manufacturing SMEs.

Research limitations/implications

This research provides a theoretical contribution through the integration of ECs, KM and SP within a unified framework that takes into account the viewpoints of the resource-based view, the knowledge-based view and the triple bottom line. The results corroborate that ECs directly affect SP and indirectly through KM. Nevertheless, the study’s use of cross-sectional survey data makes it impossible to draw conclusions about causes. This is because ECs, KM and SP all have effects on time that this empirical framework cannot account for.

Practical implications

The findings of this research provide valuable insights for managers and decision-makers in SMEs, who are expected to show an increasing interest in adopting KM processes into their companies through which ECs can be translated into SP.

Social implications

By applying the proposed framework, SMEs can conduct their activities in ways that do not harm environmental and societal well-being while achieving appropriate economic performance at the same time.

Originality/value

As a result, the findings of this study can add to the literature on ECs and KM, as well as boost the chances of SME sustainability. Directions for future research are also provided in relation to a better understanding of the factors affecting the SP of SMEs.

Details

The Bottom Line, vol. 37 no. 1
Type: Research Article
ISSN: 0888-045X

Keywords

Article
Publication date: 28 June 2023

Nur Faiza Ishak and Vinesh Thiruchelvam

The purpose of this study is to discuss policy review in the interest of sustainable innovations in Malaysia’s public procurement. This study also offers the overall relationship…

1874

Abstract

Purpose

The purpose of this study is to discuss policy review in the interest of sustainable innovations in Malaysia’s public procurement. This study also offers the overall relationship between existing policies related to sustainable innovations in public procurement and the coherences towards the four dimensions of sustainable innovations.

Design/methodology/approach

This study outlines the current policies in Malaysia which are related to sustainable innovation initiatives and explores the cohesiveness that appears disconnected and understood separately. Policy content analysis is conducted on the current policies related to sustainable innovations in the context of Malaysia’s public procurement.

Findings

This study observed that the current policies related to sustainable innovations in public procurement are actually interconnected with each other through a hierarchical framework. This study also demonstrates that the 12th Malaysia Plan has comprehensively encompassed every aspect of the environment, social, economic and innovation to contribute to one primary goal – green economic growth.

Research limitations/implications

The proposed policy framework is expected to be beneficial for the administrator executive among the civil servant to connect the independent policies and, at the same time, contribute to the overall goal of green economic growth. Through a broad policy structure too, this study helps the industry player to recognize their potential in any area related to sustainable innovation.

Originality/value

The policy framework illustrated is new to the literature, especially in Malaysia’s context. The compilation of current policy grounded by the 12th Malaysia Plan has not been presented in any publications.

Article
Publication date: 26 December 2022

Hafiz Muhammad Arshad, Muhammad Waheed Akhtar, Muhammad Imran, Irem Batool, Muhammad Asrar-ul-Haq and Minhas Akbar

China–Pakistan Economic Corridor (CPEC) is a framework of regional connectivity in which employees have to work in a cross-cultural environment. This study has extended the…

Abstract

Purpose

China–Pakistan Economic Corridor (CPEC) is a framework of regional connectivity in which employees have to work in a cross-cultural environment. This study has extended the leader-member exchange theory by investigating the mediating role of employee commitment (EC) between the relationship of leader-member exchange (LMX) and employee's work-related behaviors.

Design/methodology/approach

PLS-SEM technique was used to test the model by utilizing a multi-wave/two-source data collected from employees and their supervisors (n = 500) working in different energy projects of CPEC.

Findings

According to the results/findings, LMX has a significant positive impact on employee commitment, employee performance (EP) and open-minded discussions, but insignificant impact on innovative work behaviour (IWB). Mediating role of employee commitment was significant between the relationship of LMX with EP and open-minded discussions, but insignificant with the IWB.

Originality/value

The study contributes empirical evidence to understanding the leader-member exchange relationship among Chinese managers and Pakistani workers. It also contributes to the LMX theory literature by investigating the effect of LMX on followers' outcomes (employee performance, IWB, open-minded discussions) through employee commitment.

Details

Kybernetes, vol. 53 no. 4
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 25 March 2024

Saleh F.A. Khatib, Dewi Fariha Abdullah and Hamzeh Al Amosh

The literature has dealt with the relationship between board characteristics (BC) and firm performance (FP) on a large scale. However, it yielded inconsistent results. Thus, this…

Abstract

Purpose

The literature has dealt with the relationship between board characteristics (BC) and firm performance (FP) on a large scale. However, it yielded inconsistent results. Thus, this paper aims to examine the indirect relationship between BC and FP through the mediating role of the capital structure (CS).

Design/methodology/approach

This study used a sample of 528 non-financial companies listed on Bursa Malaysia from 2015 to 2019. Also, a two-step system generalised method of moments estimation technique was applied.

Findings

The results show that board diversity and the frequency of board meetings positively affect financial performance, and it is negatively influenced by board turnover, size and independence. Also, the results indicate a positive relationship between the independence of the board and all CS variables. Importantly, the findings support the policy-setting role of the board of directors where CS (measured by total debt and short-term debt) suppresses some governance mechanisms’ detrimental effect on FP. Hence, the board of directors, apart from the monitoring function, introduce various policies (financial and non-financial) that enhance the overall performance of companies.

Originality/value

These results are consistent with the agency’s perspective that management practices in selecting the optimal capital reduce agency costs and improve performance. The findings contribute to developing a broader theoretical framework that accounts for the policy-setting role of the board of directors. The current study model of corporate governance offers insight for policymakers into the role of corporate governance other than monitoring functions in organisations and how CS should be taken into consideration with corporate governance and FP association.

Details

Corporate Governance: The International Journal of Business in Society, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 29 March 2024

Mohd Shahid Mohd Noh, Suffian Haqiem Nor Azelan and Muhammad Izzul Syahmi Zulkepli

This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially…

Abstract

Purpose

This study aims to systematically review the literature on modern Islamic finance transactions pertaining to Gharar dimensions. Gharar is defined as uncertainty that potentially leads to ambiguities and conflicts in contracts.

Design/methodology/approach

The articles reviewed in this study consisted of 13 articles related to Gharar published between 2013 and 2022. All selected articles were empirically and descriptively searched using specific keywords and strings. The main sources for this study were Scopus and Web of Science (WoS), whereas Google Scholar was a supportive database.

Findings

The review found that the dimensions that discussed previous research were trying their best to elaborating Gharar in modern financial transactions. They also demonstrate that rigorous study and deployment of the definition remain in the context defined by jurisprudence scholars. The focus of recent studies pertaining to Gharar is derivatives products that indicate high possibility of uncertainty in its operation.

Research limitations/implications

This method relies heavily on the accessed database, namely, Scopus and WoS, also referred to the articles as recommended by the databases. Furthermore, the criteria of inclusion and exclusion of papers outlined by the authors deemed as an intrinsic limitation in writing systematic literature review.

Originality/value

To the best of the authors’ knowledge, this paper is original in its nature whereby the scholars had different comprehension on how Gharar exists in transaction but they still centred in its original meaning of uncertainty. As a result, this paper also realized how Gharar were interpreted differently relied on the contract’s nature and behaviour. In addition, this paper is expected to contribute to understand how Gharar been interpreted in modern finance transactions and finally reached to the point that further research is needed in establishing Gharar parameter for each contract in Islamic commercial law.

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: 19 December 2023

Roni Andespa, Yulia Hendri Yeni, Yudi Fernando and Dessy Kurnia Sari

This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In…

Abstract

Purpose

This study aims to investigate what past scholars have learned about Muslim consumer compliance behaviour in Islamic banks and identify what future research is needed. In addition, it also explores the relationship model between the previously studied determining factors and the customer’s Sharia compliance behaviour.

Design/methodology/approach

This study used a bibliometric–systematic literature review analysis using the Preferred Reporting Items for Systematic reviews and Meta-Analyses (PRISMA) technique by reviewing the articles published from 2013 to 2023. The PRISMA procedures involved several stages, including identification, screening, eligibility, analysis and conclusion based on the findings.

Findings

The results found that customer Sharia compliance behaviour determinants in Islamic banks are attitude, subjective norms, perceived behavioural control, Islamic financial literacy, religiosity, consumer conformity, Islamic branding and behavioural intention. Interestingly, the results indicated that such factors as consumer conformity, Islamic branding and sustainable intentions are less discussed.

Practical implications

Decision-makers in Islamic banks must use digital technology to offer better service and make operations more reachable for customers to access information, complete transactions and manage their accounts by Sharia principles. Therefore, the bank needs to continually produce innovative products and services so that customers have a greater variety of options to suit their Sharia-compliant financial needs. Theoretically, this study has contributed by finding the main critical domains influencing customers’ Sharia compliance behaviour, such as attitudes, subjective norms, perceptions of behavioural control, knowledge of Islamic finance, religiosity, consumer conformity, Islamic branding and behavioural intentions. Then, it makes a theoretical contribution by establishing a model that explains how customers make decisions based on Sharia-related factors in the context of their purchases.

Originality/value

Past studies focused on the Sharia compliance behaviour in paying Zakat for takaful customers. Therefore, this study provides critical factors of Sharia compliance behaviour on conformity, Islamic branding and sustainable intention regarding unexplored consensus on the determinants and outcomes of customer Sharia compliance behaviour of Islamic banking.

Details

Journal of Islamic Marketing, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 1 January 2024

Syadiyah Abdul Shukor and Uraiporn Kattiyapornpong

This study aims to provide an insight into research related to Muslim travellers in the past 42 years.

Abstract

Purpose

This study aims to provide an insight into research related to Muslim travellers in the past 42 years.

Design/methodology/approach

Using 342 articles collected from the Scopus database from 1981 to 2023, this study adopted the Bibliometrix in RStudio package and Biblioshiny Web application to analyse the research on Muslim travellers in two main categories: overview and intellectual structures.

Findings

The first publication related to Muslim travellers occurred in 1981 and number of publications remained few in the first three decades. Starting 2015, publications on Muslim travellers experienced a growing development of discussions and publications. Four prominent research clusters were identified: “halal tourism”, “hajj”, “Islamic tourism” and “tourist post-purchase”. Themes within the research on Muslim travellers have evolved from the “pilgrimage” to “Islamic tourism” theme. Then, the “Islamic tourism” theme has been expanded to a variety of topics that were primarily relevant to Muslim tourist behaviour. Themes related to “climate change” and “Syria” have been identified as the niche themes that need further study.

Research limitations/implications

Scopus database is regularly updated as the number of papers and journals may increase or decrease from time to time. This may impact on the fluctuation of the theme analysis from the article search at that time.

Originality/value

This study reviews publications related to Muslim travellers over the past four decades. Accordingly, it can aid interested researchers and stakeholders in gaining a more thorough understanding of Muslim traveller research.

Details

Journal of Islamic Marketing, vol. 15 no. 4
Type: Research Article
ISSN: 1759-0833

Keywords

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