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1 – 10 of 10This paper aims to contribute to formulating the methodological framework for a paradigm of Islamic economics, using the development of the conventional economics, theoretical and…
Abstract
Purpose
This paper aims to contribute to formulating the methodological framework for a paradigm of Islamic economics, using the development of the conventional economics, theoretical and mathematical methods.
Design/methodology/approach
The study based on the inductive and mathematical methods to contribute to economic theory within the methodological framework for Islamic Economics, by using the return rate of Musharakah rather than the interest rate in influence the economic activity and monetary policy.
Findings
Via replacement, the concept of the interest rate by the return rates of Musharakah. It concludes that the central bank can control the monetary policy, economic activity and the efficient allocation of resources by using the return rates of Musharakah through the framework of Islamic economy.
Practical/implications
The study is a contribution to formulate the methodological framework for a paradigm of Islamic economics, where it investigates the impact of return rates of Musharakah on the money market and monetary policy, by the mathematical methods used in the conventional economy. Also, the study illustrates the importance of further studies that examine the methodological framework for Islamic Economics.
Originality/value
The study aims to contribute to formulating the Islamic economic theory, through the return rate of Musharakah financing instead of the interest rate, and its effectiveness of the monetary policy. As well as reformulating the concepts of the investment function, the present value and the marginal efficiency rate of investment according to the Islamic economy approach.
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Maheshwaran Gopalakrishnan and Anders Skoogh
The purpose of this paper is to identify the productivity improvement potentials from maintenance planning practices in manufacturing companies. In particular, the paper aims at…
Abstract
Purpose
The purpose of this paper is to identify the productivity improvement potentials from maintenance planning practices in manufacturing companies. In particular, the paper aims at understanding the connection between machine criticality assessment and maintenance prioritization in industrial practice, as well as providing the improvement potentials.
Design/methodology/approach
An explanatory mixed method research design was used in this study. Data from literature analysis, a web-based questionnaire survey, and semi-structured interviews were gathered and triangulated. Additionally, simulation experimentation was used to evaluate the productivity potential.
Findings
The connection between machine criticality and maintenance prioritization is assessed in an industrial set-up. The empirical findings show that maintenance prioritization is not based on machine criticality, as criticality assessment is non-factual, static, and lacks system view. It is with respect to these finding that the ways to increase system productivity and future directions are charted.
Originality/value
In addition to the empirical results showing productivity improvement potentials, the paper emphasizes on the need for a systems view for solving maintenance problems, i.e. solving maintenance problems for the whole factory. This contribution is equally important for both industry and academics, as the maintenance organization needs to solve this problem with the help of the right decision support.
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Cinzia Colapinto, Raja Jayaraman and Davide La Torre
Most countries face important economic, social and environmental challenges and are strongly committed to invest in research and development (R&D) activities to help support the…
Abstract
Purpose
Most countries face important economic, social and environmental challenges and are strongly committed to invest in research and development (R&D) activities to help support the long-run economic sustainable growth. This paper aims to extend the previous research on macro-economic growth models and introduces endogenous variables to determine the amount of investments in R&D activities.
Design/methodology/approach
The model considers four different criteria and six economic sectors and aims at finding the optimal allocation of labor across different sectors. The model also endogenously determines the amount of investments in pollution abatement activities together with energy-related R&D efforts. The paper presents an application to the case of Kazakhstan, an emerging Asian country, that aims to become one of the top 30 most developed countries in the world by 2050.
Findings
The model shows the limits of the Kazakh agenda that identified too ambitious goals as the country has to go through a sociotechnical transition that involves a range of modifications in institutional structures, together with changes in user practices and the technological dimension. Kazakhstan should invest more in R&D activities able to develop sustainable energy sources to face the current electricity consumption demand and to reduce the greenhouse gas emission in the future.
Originality/value
The paper provides valuable knowledge for researchers and policy makers interested in the impact of R&D on the long-run economic sustainable growth.
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S.V. Khandal, T.M. Yunus Khan, Sarfaraz Kamangar, Maughal Ahmed Ali Baig and Salman Ahmed N J
The different performance tests were conducted on diesel engine compression ignition (CI) mode and CRDi engine.
Abstract
Purpose
The different performance tests were conducted on diesel engine compression ignition (CI) mode and CRDi engine.
Design/methodology/approach
The CI engine was suitably modified to CRDi engine with Toroidal re-entrant combustion chamber (TRCC) and was run in dual-fuel (DF) mode. Hydrogen (H2) was supplied at different flow rates during the suction stroke, and 0.22 Kg/h of hydrogen fuel flow rate (HFFR) was found to be optimum. Diesel and biodiesel were used as pilot fuels. The CRDi engine with DF mode was run at various injection pressures, and 900 bar was found to be optimum injection pressure (IP) with 10o before top dead center (bTDC) as fuel injection timing (IT).
Findings
These operating engine conditions increased formation of oxides of nitrogen (NOx), which were reduced by exhaust gas recycle (EGR). With EGR of 15%, CRDi engine resulted in 12.6% lower brake thermal efficiency (BTE), 5.5% lower hydrocarbon (HC), 7.7% lower carbon monoxide (CO), 26% lower NOx at 80% load as compared to the unmodified diesel engine (CI mode).
Originality/value
The current research is an effort to study and evaluate the performance of CRDi engine in DF mode with diesel-H2 and BCPO-H2 fuel combinations with TRCC.
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Zaheer Anwer, Shabeer Khan and Muhammad Abu Bakar
The purpose of this study is to document how a central bank can perform its primary and secondary functions in a Sharīʿah-compliant manner. It also seeks to investigate the…
Abstract
Purpose
The purpose of this study is to document how a central bank can perform its primary and secondary functions in a Sharīʿah-compliant manner. It also seeks to investigate the outcomes of the experiments of Muslim-majority countries in this regard.
Design/methodology/approach
As a first step, a detailed review of existing literature is conducted, which discusses the views of scholars and practitioners on the central banking mechanism in a fully Sharīʿah-compliant financial system. Moving further, the case studies of Iran, Sudan and Pakistan are presented to highlight experiences of regulators from three Muslim-majority countries, which aimed to achieve full compliance with Sharīʿah (Islamic law) principles related to Islamic finance. To evaluate their models, an assessment of their practices is performed in the light of Sharīʿah rules and principles based on existing literature. Finally, the issues involved in establishing a Sharīʿah-compliant central bank (SCCB) are discussed and improvements are suggested.
Findings
It is found that Iran played an effective role in pursuing broader objectives of monetary policy by setting priorities for credit allocation and assisting the government in reducing expenses; however, with respect to instruments, its experience is limited to the rebranding of conventional products. Sudan has not only used monetary policy to effectively curb inflation but also it has introduced various indirect instruments to perform monetary operations. Pakistan succeeded in formulating a theoretical roadmap to establish a SCCB but the desired objectives could not be achieved because of multiple factors.
Practical implications
This study has important policy implications for regulators and policymakers from Muslim countries, who can use the findings in shaping effective Sharīʿah-compliant central banking practices in their respective countries.
Originality/value
This study discusses the salient features of an important Islamic financial institution, the central bank and evaluates the experiments of three Muslim-majority countries in implementing Sharīʿah-compliant central banking practices. To the best of the knowledge, this evaluation has not been performed in the existing literature and the present study fills in this gap.
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God promised pious individuals who obey to His commandments, to increase their economic well-being. Although it is difficult to demonstrate with figures in hand this causality…
Abstract
Purpose
God promised pious individuals who obey to His commandments, to increase their economic well-being. Although it is difficult to demonstrate with figures in hand this causality relationship, Muslims must believe in its existence and robustness at both the individual and collective levels, as it is argued in Qur'an and the Prophetic Narration. We aim in this paper to model this positive relationship between Islamic work ethics and economic growth and prove theoretically its existence.
Design/methodology/approach
We develop an endogenous growth model very close technically to Lucas–Uzawa model (1988) in which the human capital defined as the individual's skill level acquired through formal education and learning by doing is replaced by ethical capital (piety).
Findings
The model proves theoretically that Islamic ethics are a key engine of endogenous economic growth and that the underdevelopment of Muslim populations is due to their low ethical capital (lack of piety).
Practical implications
The study recommends some policies such as providing formal religious education at all educational levels (elementary, secondary and higher levels) and promoting ethical values such as piety, sincerity, transparency, etc., through media and cultural institutions. Also, managers could provide courses and training to their workers to teach them Islamic work ethics.
Originality/value
This paper is the first to mathematically model Islamic work ethics as endogenous phenomena in socioeconomic systems and study theoretically their contributions to economic growth.
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Mohamed Ismail Mohamed Riyath, Uthuma Lebbe Muhammed Rijah and Aboobacker Rameez
There is a significant decrease in students' attendance in Zoom classes compared to traditional classes. This paper investigates the factors that affect students' attitudes…
Abstract
Purpose
There is a significant decrease in students' attendance in Zoom classes compared to traditional classes. This paper investigates the factors that affect students' attitudes, behavioral intentions and actual use of Zoom for online classes at higher educational institutions (HEIs) in Sri Lanka.
Design/methodology/approach
This research uses the technology acceptance model (TAM) as a theoretical model. The data are collected from HEI students via an online survey form. The hypotheses between constructs in the model are tested using partial least squared–structural equation model.
Findings
The analysis shows that computer self-efficacy (CSE) affects perceived usefulness (PU) and perceived ease of use (PEU), which affects attitude (ATT) and behavioral intention (BI) and actual use (AU) of Zoom in a chain reaction. Further, PEU affects PU, which, in turn, affects BI. Furthermore, the effect size of PU to BI is larger than ATT to BI.
Practical implications
Students' attendance for Zoom classes mainly depends on CSE, PU and PEU. Therefore, HEIs should promote Zoom with interactive training before teaching online. Further, officials should revise the curriculum in schools to upsurge the CSE of students.
Originality/value
During coronavirus-19, no research was published on students' use of Zoom for online classes in the Sri Lankan context. Moreover, the TAM model has been modified by including CSE as an external variable.
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Mauro Sciarelli, Mohamed Hani Gheith and Mario Tani
This study aims to empirically investigate the effects of both soft and hard quality management (QM) on innovation and organizational performance. It also examines the mediating…
Abstract
Purpose
This study aims to empirically investigate the effects of both soft and hard quality management (QM) on innovation and organizational performance. It also examines the mediating role of hard QM, administrative innovation and technical innovation on the relationship between soft QM and organizational performance in higher education (HE).
Design/methodology/approach
The approach of this study is quantitative. The data used to test the hypotheses were obtained through online questionnaire sent to the academic staff of public universities in Naples (Italy). The hypothesized relationships are tested with data collected from 356 respondents by using the partial least squares structural equation modeling technique (PLS-SEM).
Findings
The results show that quality practices improve innovation and organizational performance, while innovation positively impacts organizational performance. The findings also indicate that soft QM affects organizational performance directly and indirectly through hard QM. Hard QM and innovation show a partial sequential mediating effect on soft QM-performance relationship
Practical implications
In order to implement quality management properly in HE, directors need to recognize the different roles that soft and hard QM can have on innovation and organizational performance. It is important that higher education institutions (HEIs) allocate resources to establish both types of QM practices to achieve the effectiveness of the whole QM system.
Originality/value
Despite the existence of numerous studies on the relationship between QM, innovation and organizational performance in manufacturing and services, studies conducted in higher education are still few. This is one of the earliest studies that adopt the multidimensional approach of QM in HE which could help directors understand the interdependencies and different roles of soft and hard quality practices.
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Mudher Abullraheem Abdulhameed
This study aims to deal with the evaluation of institutional development and effectiveness of regional parliaments; it provides a scientific contribution to the development of the…
Abstract
Purpose
This study aims to deal with the evaluation of institutional development and effectiveness of regional parliaments; it provides a scientific contribution to the development of the field of parliamentary studies by developing a set of indicators to present a parameter for evaluating regional parliaments with application to the Arab Parliament. The study concluded with the development of a parameter of 35 indicators to measure institutionally, efficiency and effectiveness of the institution, with application to the Arab Parliament, as well as developing an integrated assessment of the strengths and weaknesses in the institutional aspects and organizational efficiency.
Design/methodology/approach
The study is predicated on the principle of institutional approach and the systems analysis. The curriculum is applied to the Arab Parliament as an institution to quantify efficiency and efficacy according to the implementation of a set of proposed practical indicators. The study additionally applies both Huntington’s institutional standards such as Adaptability, Involution, Autonomy and Coherence, as well as the indicators of institutions efficiency according to PrePanti such as Openness, Reception (R), Autonomy (A), Balance (B), Congruence (C), Internal Efficacy (I), Reformulation (R) and Roles (R), which refer to the first seven Latin letters “First RABCIRR”.
Findings
The researcher endeavored to answer the main questions; How to quantify the degree of institutionalization, its impact on the efficiency and efficacy of regional parliaments. The researcher’s approaches and the standards of efficiency and efficacy figured a comprehensive set of indicators that composed an integrated parliamentary standard to assess the degree of institutionalization, efficacy and efficiency of regional parliaments as a scientific contribution based on the Arab Parliament that can be applied to all regional parliaments.
Originality/value
This research is an attempt to create a Parliamentary Index to complement the previous scientific initiatives and efforts in developing such an index, which consists of 35 indicators and its application to the Arab Parliament. This research uses the principles of institutional approach, system analysis methodology and efficiency. The approach is applied to the Arab Parliament as a regional parliament to measure efficiency and effectiveness by applying a set of the proposed indicators.
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This paper purposed a multi-facet sentiment analysis system.
Abstract
Purpose
This paper purposed a multi-facet sentiment analysis system.
Design/methodology/approach
Hence, This paper uses multidomain resources to build a sentiment analysis system. The manual lexicon based features that are extracted from the resources are fed into a machine learning classifier to compare their performance afterward. The manual lexicon is replaced with a custom BOW to deal with its time consuming construction. To help the system run faster and make the model interpretable, this will be performed by employing different existing and custom approaches such as term occurrence, information gain, principal component analysis, semantic clustering, and POS tagging filters.
Findings
The proposed system featured by lexicon extraction automation and characteristics size optimization proved its efficiency when applied to multidomain and benchmark datasets by reaching 93.59% accuracy which makes it competitive to the state-of-the-art systems.
Originality/value
The construction of a custom BOW. Optimizing features based on existing and custom feature selection and clustering approaches.
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