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1 – 2 of 2Sabana Backer and A.P. Prasanth
The study investigates the role of locus of control and motivation in predicting green buyer behaviour using social cognitive theory. The study also examines the mediating role of…
Abstract
Purpose
The study investigates the role of locus of control and motivation in predicting green buyer behaviour using social cognitive theory. The study also examines the mediating role of motivation and the moderating role of health consciousness in the relationship between motivation and green consumer behaviour.
Design/methodology/approach
To test the postulated relationships in the study, responses were collected from 410 customers. The study tested validity through confirmatory factor analysis and examined various hypotheses through Process Macros.
Findings
The analysis revealed that the locus of control of the buyer increases green buyer behaviour. The study established a positive relationship between internal and external locus of control and intrinsic and extrinsic motivation, impacting green buyer behaviour. The study also identified evidence supporting the mediating role of intrinsic and the extrinsic motivation and the moderating influence of health consciousness.
Practical implications
The study expands upon current theory by illustrating the association between intrinsic and extrinsic motivation and customers' green purchasing behaviour. It enhances existing literature by identifying health consciousness as a personal factor influencing the connection between motivation and eco-friendly purchasing, urging marketers and policymakers to promote green buying.
Originality/value
To the best of the authors’ knowledge, no prior studies have examined the effect of internal and external locus of control on green buyer behaviour. Through identifying the mediating mechanism and health consciousness as a personal factor, the study enhances both theoretical understanding and practical applications.
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Abdul Rafay, Ramla Sadiq and Mobeen Ajmal
This paper aims to discuss the urgent need to develop a sound and robust universal framework that would prove helpful in creating uniform acceptability of Islamic financial…
Abstract
Purpose
This paper aims to discuss the urgent need to develop a sound and robust universal framework that would prove helpful in creating uniform acceptability of Islamic financial instruments. Among many problems, a particular problem in developing a uniform global framework for Islamic financial instruments is the existence of different madhahib within Islamic Fiqh. The leading and the most prominent Sunni madhahib that have survived till today are four, the Hanbali, Shafi, Maliki and Hanafi, while the most prominent Shia madhab is the Jafari madhab.
Design/methodology/approach
The research approach was descriptive and exploratory in nature. Secondary resources were used except for a semi-structured interview with a Shariah scholar with the justification that his knowledge and experience regarding the subject matter may prove helpful. The methodology included a systematic review of already issued Sukuk by various madhahib. Compared to a simple narrative review of a few case studies regarding Sukuk, this methodology has a benefit to provide the reader the power to assess the review and even replicate it. The results of this systematic review are summarized in the form of tables.
Findings
Ingredients were determined that would help make a truly global Sukuk security, a model acceptable to all madhahib of Islamic Fiqh. These ingredients include rentals, relationship between special purpose vehicle (SPV) and originator, transference to SPV, Sukuk structure, guarantee, liquidity, listing and tradability, convertibility, subordination and post-Ijarah price. Moreover, specific steps were also analyzed that must be taken to issue such type of Sukuk al-Ijarah.
Research limitations/implications
This study is focused only on a type of Islamic financial instrument, i.e. Sukuk whose underlying was Ijarah-based contracts. This is due to lesser global acceptability for other Islamic financial instruments including other forms of Sukuk. Based on the nature of study, purposive/judgmental sampling was done. The sample population was 40 Sukuk (nine each from Hanafi, Shafi and Maliki madhahib, five each from Hanbali and Jafari madhahib and three from non-Muslim zones). Some Sukuk were dropped due to non-availability of enough data and to keep some semblance between the impact of the madhab on financial world and the data.
Practical implications
For practitioners and regulators, on the basis of the given recommendations, it would be possible to create a standardized product, acceptable for all madhahib of Islamic Fiqh. This standardization will lead to a unified platform that can attract a larger investor pool as well as better integration. For practical purposes, the proposed model of Sukuk al-Ijarah can be replicated for other Islamic financial instruments for global acceptability.
Social implications
For an Islamic society, the expansion of Islamic economic system depends principally on unity. So integration is critical and also essential for the success of any Islamic financial instrument. When the society will move away from Riba and its associated evil, the society will move in a positive direction, while still making profits. The proposed model may also be utilized for socially responsible initiatives like protection of natural resources, advancement of renewable energy, economic development and rehabilitation to name a few.
Originality/value
Previous studies were silent on the development of comprehensive frameworks acceptable to all madhahib of Islamic Fiqh. This research study is the first study of its kind and is the first step toward integration, as it would try to suggest a global framework for Sukuk al-Ijarah that can be acceptable by the followers of any madhab of Islamic Fiqh.
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