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Article
Publication date: 11 April 2023

Zeyneb Hafsa Orhan, Sajjad Zaheer and Fatih Kazancı

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain…

Abstract

Purpose

This paper aims to achieve two goals: first, to evaluate the existing interest-free monetary policy tools in the major Islamic financial hubs of Malaysia, Pakistan and Bahrain and; second, to suggest how monetary policy tools in Turkey can be used in other countries.

Design/methodology/approach

This study follows a qualitative research method based on literature review, comparison, evaluation and design.

Findings

The policy rate cannot be used due to Shariah concerns. The reserve requirement depends on qard, and the reserves should be kept separately in the central bank. In terms of ijarah sukuk, Shariah concerns should be taken into account and a new structure, as displayed in Figure 3, should be followed. Government investment certificates can be used as an interest-free monetary policy tool. A genuine mudarabah interbank investments can also be used. Wadiah acceptance with no habitual gift can be used as well, and Tawarruq and central bank notes are not preferable due to Shariah concerns as well. Having said that, a Turkey-based tawarruq platform can be structured for others to use instead of applying to London.

Originality/value

This paper’s unique suggestion is to develop an interbank taqaruz market and a taqaruz method with the central bank. It is also unique for Turkey in the subject.

Details

Qualitative Research in Financial Markets, vol. 16 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

Open Access
Article
Publication date: 13 February 2023

Elham Rostami, Fredrik Karlsson and Shang Gao

This paper aims to propose a conceptual model of policy components for software that supports modularizing and tailoring of information security policies (ISPs).

1203

Abstract

Purpose

This paper aims to propose a conceptual model of policy components for software that supports modularizing and tailoring of information security policies (ISPs).

Design/methodology/approach

This study used a design science research approach, drawing on design knowledge from the field of situational method engineering. The conceptual model was developed as a unified modeling language class diagram using existing ISPs from public agencies in Sweden.

Findings

This study’s demonstration as proof of concept indicates that the conceptual model can be used to create free-standing modules that provide guidance about information security in relation to a specific work task and that these modules can be used across multiple tailored ISPs. Thus, the model can be considered as a step toward developing software to tailor ISPs.

Research limitations/implications

The proposed conceptual model bears several short- and long-term implications for research. In the short term, the model can act as a foundation for developing software to design tailored ISPs. In the long term, having software that enables tailorable ISPs will allow researchers to do new types of studies, such as evaluating the software's effectiveness in the ISP development process.

Practical implications

Practitioners can use the model to develop software that assist information security managers in designing tailored ISPs. Such a tool can offer the opportunity for information security managers to design more purposeful ISPs.

Originality/value

The proposed model offers a detailed and well-elaborated starting point for developing software that supports modularizing and tailoring of ISPs.

Details

Information & Computer Security, vol. 31 no. 3
Type: Research Article
ISSN: 2056-4961

Keywords

Article
Publication date: 19 October 2023

Rajat Kumar Behera, Pradip Kumar Bala, Prabin Kumar Panigrahi and Shilpee A. Dasgupta

Despite technological advancements to enhance patient health, the risks of not discovering the correct interactions and trends in digital health are high. Hence, a careful policy…

Abstract

Purpose

Despite technological advancements to enhance patient health, the risks of not discovering the correct interactions and trends in digital health are high. Hence, a careful policy is required for health coverage tailored to needs and capacity. Therefore, this study aims to explore the adoption of a cognitive computing decision support system (CCDSS) in the assessment of health-care policymaking and validates it by extending the unified theory of acceptance and use of technology model.

Design/methodology/approach

A survey was conducted to collect data from different stakeholders, referred to as the 4Ps, namely, patients, providers, payors and policymakers. Structural equation modelling and one-way ANOVA were used to analyse the data.

Findings

The result reveals that the behavioural insight of policymakers towards the assessment of health-care policymaking is based on automatic and reflective systems. Investments in CCDSS for policymaking assessment have the potential to produce rational outcomes. CCDSS, built with quality procedures, can validate whether breastfeeding-supporting policies are mother-friendly.

Research limitations/implications

Health-care policies are used by lawmakers to safeguard and improve public health, but it has always been a challenge. With the adoption of CCDSS, the overall goal of health-care policymaking can achieve better quality standards and improve the design of policymaking.

Originality/value

This study drew attention to how CCDSS as a technology enabler can drive health-care policymaking assessment for each stage and how the technology enabler can help the 4Ps of health-care gain insight into the benefits and potential value of CCDSS by demonstrating the breastfeeding supporting policy.

Details

Journal of Systems and Information Technology, vol. 25 no. 4
Type: Research Article
ISSN: 1328-7265

Keywords

Article
Publication date: 18 February 2022

Harit Satt and George Iatridis

This paper investigates the impact of annual reports complexity (associated with tone complexity) on dividend policy and value of dividend policy.

Abstract

Purpose

This paper investigates the impact of annual reports complexity (associated with tone complexity) on dividend policy and value of dividend policy.

Design/methodology/approach

This paper uses the variable complexity provided by the textual analytics software (Diction 7.0) as the proxy for annual reports' tone complexity. The data covered non-financial American firms from years 2011–2019. The pooled ordinary least squares (OLS) regression and the instrumental variable regression are used to test the study’s arguments.

Findings

The findings suggest that the signaling theory of dividends holds in the United States. Firms with more complex annual reports tend to distribute more dividends, mainly in environment of high information. When information asymmetry is high, managers would use dividends as a tool to mitigate information asymmetry. Furthermore, the findings suggest that dividend policy has a stronger impact on firm value, especially when the tones of annual reports are highly complex. These findings support the previous results, namely, that managers would opt for dividend policy as a signaling tool for its positive impact on firm value. The results are robust to potential endogeneity issues and alternative proxies for both dividend policy and information asymmetry.

Practical implications

The results demonstrate that the dividends' signaling theory holds in the United States, where the findings cannot be generalized to all markets; However, the findings of this research can be of use to potential and current investors, users of annual reports and decision makers as well.

Originality/value

The paper highlights the effect of the tone complexity of annual reports (using 10K text analytics) on the value of dividend policy and dividend policy itself in a developed economy. Understanding this relation will enable stakeholders to forecast future dividends, choose more appropriate valuation methods and hence restore investors' faith.

Details

Review of Behavioral Finance, vol. 15 no. 4
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 28 February 2023

Nemiraja Jadiyappa and Ram Kumar Kakani

The purpose of this paper is to examine how changes in creditors' rights affect the dividend policy behavior of corporate firms.

Abstract

Purpose

The purpose of this paper is to examine how changes in creditors' rights affect the dividend policy behavior of corporate firms.

Design/methodology/approach

The authors use the implementation of the bankruptcy and insolvency code (IBC) in India in 2016 as a quasi-natural experiment setup. Differential application of this law allows them to use the Difference in Differences approach to extract the marginal impact of change in creditors' rights on the dividend policy.

Findings

The authors show that firms responded to strengthening creditors' rights by decreasing their dividend payout. Further, the authors observe that this negative response is conditioned on firm leverage and the nature of the creditor, i.e. public or private. The firms with a greater leverage ratio and a greater proportion of private debt in the total debt in the pre-event period have shown greater response to the change in the law. Lastly, the authors show that stock markets positively respond to the observed decrease in dividends only when a corresponding decrease in the leverage accompanies such a decrease.

Originality/value

The authors contribute to the finance and law literature from several aspects. First, the authors extend this stream by bringing to light the dividend policy response of firms when they are subjected to a change in creditors' rights. Second, the authors also show how firm-level factors like financial policy and the nature of the creditor condition their response to IBC. Lastly, the authors also examine the market reaction to the dividend policy response of firms to the change in bankruptcy law.

Details

International Journal of Managerial Finance, vol. 19 no. 5
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 27 September 2023

Emily Zoe Mann, Stephanie A. Jacobs, Kirsten M. Kinsley and Laura I. Spears

Building on past studies of library privacy policies, this review looks at how privacy information is shared at universities and colleges in the state of Florida. Beyond the…

Abstract

Purpose

Building on past studies of library privacy policies, this review looks at how privacy information is shared at universities and colleges in the state of Florida. Beyond the question of whether a library-specific privacy policy exists, this review evaluates what is covered in the policies – whether topics such as how student data is stored, retained, de-identified and disposed of are broached in the statements, and whether specific data sets covering instruction, reference and surveillance are mentioned. The purpose of this study is to open the door to directed exploration into student awareness of privacy policies and spark conversation about positionality of libraries regarding privacy.

Design/methodology/approach

This review was done using a cross-sectional study design through observation of public-facing library privacy policies of higher education institutions in Florida.

Findings

Findings include that the majority of Florida academic libraries do not have a public-facing privacy policy. Only 15 out of the 70 schools reviewed had one. A large portion of those came from doctoral universities with associate’s colleges having none, and baccalaureate/associate’s colleges having only two. The policies that were in place tended to be institution-centered rather than patron-centered. Most categories of listed data collected were in the area of collections, website or computer usage.

Originality/value

The value of this review is that it adds to the literature studying privacy policies in academic libraries. Going forward, this research could address statewide practice in privacy policies as well as helping to lay pathways for working with students and other library patrons to gauge their interests and concerns about privacy.

Details

Information and Learning Sciences, vol. 124 no. 9/10
Type: Research Article
ISSN: 2398-5348

Keywords

Article
Publication date: 3 March 2023

Reza Hafezi, Hossein Heirani, Mohammadreza Akbari, Ahmad Mortezaee, Naser Bagherimoghaddam, Hamid Heydari and Amirhossein Souhankar

In the case of Iran, about 19 years have passed since the announcement of general energy policies. Policies adopted in the past included too many approaches and goals for the…

Abstract

Purpose

In the case of Iran, about 19 years have passed since the announcement of general energy policies. Policies adopted in the past included too many approaches and goals for the energy sector that some of them are in conflict with each other and their simultaneous implementation was impossible. Therefore, many of the expected goals of these policies have not been achieved. It is very important to adopt an appropriate approach that is compatible with the country’s characteristics and can steer energy policies. Therefore, this study aims to adopt an appropriate approach for the country’s energy sector according to the conditions and needs of the country.

Design/methodology/approach

A participatory scenario technique is designed and used to develop plausible projections in the case of Iran’s energy futures. Based on the proposed methodology, the research process starts with data gathering through interviews and national plans analysis. Then, findings were used as inputs to a simulation-based scenario development process. Scenarios are developed based on Monte Carlo simulation via cross-impact analysis technique purified based on expert judgments.

Findings

In this paper, to recognize Iran’s general approach to energy in the next 20 years, driving forces of change were introduced and used as input for the scenario development phase. Results showed sanctions play a significant role in Iran’s energy future and determine the directions of other driving forces. For renewable energy, it was proposed to increase the renewable share in Iran’s electricity generation mix to 5% of the total installed capacity. In the case of fossil fuel extraction, the maximum efficient rate was proposed for both oil and natural gas national production strategy.

Originality/value

This research is novel both in terms of application and theory. A new participatory scenario development method is used using simulations that are equipped based on experts’ judgments. Also from the practical perspective, this research targeted a future-oriented challenging problem to initialize national policy in a resource-rich developing economy (i.e. Iran).

Details

foresight, vol. 25 no. 5
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 17 April 2023

Natalie A. Graff, Bart L. Fischer, Henry L. Bryant and David P. Anderson

The purpose of this paper is to evaluate the Dual Use (DU) Option – a crop insurance policy created by the 2018 Farm Bill – relative to other policies available to dual-purpose…

Abstract

Purpose

The purpose of this paper is to evaluate the Dual Use (DU) Option – a crop insurance policy created by the 2018 Farm Bill – relative to other policies available to dual-purpose annual forage producers. The new policy combines existing rainfall-based policies for annual forage crops and multi-peril policies for grain, allowing coverage for multiple crop uses on the same acres during the same growing season.

Design/methodology/approach

The paper uses a simulation model to examine crop insurance choices for a typical Texas dual-purpose wheat farm. The certainty equivalent (CE) of wealth is used to rank choices within and between three insurance plans and to analyze the effects of those choices over a range of producer risk aversion levels and for three cases of yield expectations.

Findings

The DU Option is more preferred as risk aversion increases, but it is not universally preferred. Therefore, while the policy can be a viable risk management tool, certain restrictions may be limiting its effectiveness.

Practical implications

The findings of this paper can help explain farm-level decision making related to dual-purpose annual forage crop insurance program choices.

Originality/value

This paper contributes to the literature by documenting a new crop insurance program made available in the 2018 Farm Bill and provides insights into producers' possible choices by evaluating extensive scenarios.

Details

Agricultural Finance Review, vol. 83 no. 3
Type: Research Article
ISSN: 0002-1466

Keywords

Article
Publication date: 24 October 2022

Danielle A. Morris-O'Connor, Andreas Strotmann and Dangzhi Zhao

To add new empirical knowledge to debates about social practices of peer production communities, and to conversations about bias and its implications for democracy. To help…

Abstract

Purpose

To add new empirical knowledge to debates about social practices of peer production communities, and to conversations about bias and its implications for democracy. To help identify Wikipedia (WP) articles that are affected by systematic bias and hopefully help alleviate the impact of such bias on the general public, thus helping enhance both traditional (e.g. libraries) and online information services (e.g. Google) in ways that contribute to democracy. This paper aims to discuss the aforementioned objectives.

Design/methodology/approach

Quantitatively, the authors identify edit-warring camps across many conflict zones of the English language WP, and profile and compare success rates and typologies of camp edits in the corresponding topic areas. Qualitatively, the authors analyze the edit war between two senior WP editors that resulted in imbalanced and biased articles throughout a topic area for such editorial characteristics through a close critical reading.

Findings

Through a large-scale quantitative study, the authors find that winner-take-all camps exhibit biasing editing behaviors to a much larger extent than the camps they successfully edit-war against, confirming findings of prior small-scale qualitative studies. The authors also confirm the employment of these behaviors and identify other behaviors in the successful silencing of traditional medicinal knowledge on WP by a scientism-biased senior WP editor through close reading.

Social implications

WP sadly does, as previously claimed, appear to be a platform that represents the biased viewpoints of its most stridently opinionated Western white male editors, and routinely misrepresents scholarly work and scientific consensus, the authors find. WP is therefore in dire need of scholarly oversight and decolonization.

Originality/value

The authors independently verify findings from prior personal accounts of highly power-imbalanced fights of scholars against senior editors on WP through a third-party close reading of a much more power balanced edit war between senior WP editors. The authors confirm that these findings generalize well to edit wars across WP, through a large scale quantitative analysis of unbalanced edit wars across a wide range of zones of contention on WP.

Details

Journal of Documentation, vol. 79 no. 3
Type: Research Article
ISSN: 0022-0418

Keywords

Article
Publication date: 9 August 2022

Hongji Xie, Zhen Yang and Shulin Xu

Economic policy uncertainty (EPU) has huge impact and harm on real economy, so the economic logic and other economic effects behind this must be further studied. By constructing…

Abstract

Purpose

Economic policy uncertainty (EPU) has huge impact and harm on real economy, so the economic logic and other economic effects behind this must be further studied. By constructing the “China Economic Policy Uncertainty Index” to capture the degree of EPU faced by Chinese companies, the authors empirically test whether and how EPU affects the level of executives' perquisite consumption.

Design/methodology/approach

This study investigates the relationship between EPU and executive perquisite consumption based on a sample of 3,185 publicly listed firms in China. To examine the relationship between EPU and executives' perquisite consumption, a mixed least squares method was used for regression. To alleviate the problem of missing variables that do not change over time and control the influence of unobservable individual heterogeneity at the firm level, the firm fixed effects model is used for regression.

Findings

The study finds that EPU is positively associated with executive perquisite consumption. This positive association is stronger for firms with smaller size, lower management shareholding and higher levels of separation of ownership and control. Effective external governance (i.e., analyst coverage, media coverage, auditor and market competition) can mitigate the relationship between EPU and executive perquisite consumption. Further analysis reveals that EPU increases executive perquisite consumption by holding more cash and decreasing firm risk taking. EPU hurts market value of firms by boosting executive perquisite consumption and tunneling.

Practical implications

In an environment with high EPU, the board of directors should reduce managers' compensation performance sensitivity to ease the agency conflict caused by uncertainty. Firms should improve their governance mechanisms and standard and pay attention to their environmental changes. Policymakers should pay attention to maintaining the continuity and predictability of policies, stabilizing the economic policy expectations of market entities and avoiding frequent changes in policies that can harm economic and firm value. The regulatory authorities should actively guide listed companies to increase active information disclosure during periods of high policy uncertainty.

Originality/value

This study contributes to the research on corporate governance by showing how EPU influences executives' behaviors. The authors advance relative studies by showing that this uncertainty embedded in a firm's external environments influences executive perquisite consumption. This study also contributes to the literature on how internal and external governances influence corporate behavior during uncertainty. These findings extend this line of research by suggesting that effective external governance is an attribute that can alleviate the effect of uncertainty on managers' opportunistic behaviors.

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