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Article
Publication date: 2 February 2024

Ravita Kharb, Charu Shri and Neha Saini

The objective is to develop an empirical model estimating the relationship and interaction amongst the factors affecting and enhancing green finance (GF) in developing economies…

Abstract

Purpose

The objective is to develop an empirical model estimating the relationship and interaction amongst the factors affecting and enhancing green finance (GF) in developing economies like India.

Design/methodology/approach

Around nine growth-accelerating enablers of green financing were found through literature and unstructured interviews and analysed using the total interpretive structural modelling (TISM) method. The hierarchical link between each factor is established using TISM, and further to evaluate the driver-dependent relationship the Matriced’ Impacts Croises Appliquee Aaun Classement (MICMAC) approach is utilised.

Findings

The findings demonstrate an interrelationship between growth-accelerating factors, where the political environment and information and communication technology (ICT), have minimal dependency but a strong driving force. Political environment and ICT are found as strategic-level factors lying at the bottom of the model driving towards the dependent variables. The government should focus on enacting effective policies such as the green credit guarantee scheme and carbon credit and establishing a regulatory framework to enhance green financing.

Research limitations/implications

This study examines the literature to generalise the findings and focus on the primary motivators for developing green financing. To increase green financial activity, practitioners must concentrate on aspects with significant driving forces. Furthermore, it makes organisations more profitable, efficient and competitive and promotes long-term growth.

Originality/value

The study is the first in the literature which identifies the growth-accelerating factors of green financing using the TISM and MICMAC-based hierarchical models.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Case study
Publication date: 27 February 2024

Xiangfeng Chen, Chuanjun Liu and Zhaolong Yang

In China, supply chain finance (SCF) has gradually emerged as a new service for the retail industry. This case systematically discusses how JD conducts product design and risk…

Abstract

In China, supply chain finance (SCF) has gradually emerged as a new service for the retail industry. This case systematically discusses how JD conducts product design and risk control of supply chain finance and related financial services, and analyze the impact of supply chain finance on JD's retail operations. The case also analyzes the relationship between JD supply chain finance and traditional financial institutions, and explore the future development of retail supply chain finance.

Details

FUDAN, vol. no.
Type: Case Study
ISSN: 2632-7635

Article
Publication date: 13 February 2024

Rongrong Shi, Qiaoyi Yin, Yang Yuan, Fujun Lai and Xin (Robert) Luo

Based on signaling theory, this paper aims to explore the impact of supply chain transparency (SCT) on firms' bank loan (BL) and supply chain financing (SCF) in the context of…

Abstract

Purpose

Based on signaling theory, this paper aims to explore the impact of supply chain transparency (SCT) on firms' bank loan (BL) and supply chain financing (SCF) in the context of voluntary disclosure of supplier and customer lists.

Design/methodology/approach

Based on panel data collected from Chinese-listed firms between 2012 and 2021, fixed-effect models and a series of robustness checks are used to test the predictions.

Findings

First, improving SCT by disclosing major suppliers and customers promotes BL but inhibits SCF. Specifically, customer transparency (CT) is more influential in SCF than supplier transparency (ST). Second, supplier concentration (SC) weakens SCT’s positive impact on BL while reducing its negative impact on SCF. Third, customer concentration (CC) strengthens the positive impact of SCT on BL but intensifies its negative impact on SCF. Last, these findings are basically more pronounced in highly competitive industries.

Originality/value

This study contributes to the SCT literature by investigating the under-explored practice of supply chain list disclosure and revealing its dual impact on firms' access to financing offerings (i.e. BL and SCF) based on signaling theory. Additionally, it expands the understanding of the boundary conditions affecting the relationship between SCT and firm financing, focusing on supply chain concentration. Moreover, it advances signaling theory by exploring how financing providers interpret the SCT signal and enriches the understanding of BL and SCF antecedents from a supply chain perspective.

Details

International Journal of Operations & Production Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3577

Keywords

Article
Publication date: 23 February 2024

Faizi Faizi, Airlangga Surya Kusuma and Purwanto Widodo

This study aims to explore the potential of Islamic climate finance in Indonesia and to map Islamic climate finance based on Islamic finance instruments, both commercial and…

Abstract

Purpose

This study aims to explore the potential of Islamic climate finance in Indonesia and to map Islamic climate finance based on Islamic finance instruments, both commercial and social.

Design/methodology/approach

The analysis was conducted in Jakarta, Indonesia, between October 2022 and June 2023. This study adopted a qualitative interpretive approach in two phases. The first phase was desk-based research which focused on document analysis such as official documents, scientific publications, non-governmental organization publications and company reports in Indonesia. This analysis was conducted to identify significant milestones in developing green and eco-friendly finance that used Islamic financial instruments in Indonesia. The second phase consisted of interviews with essential Islamic climate finance project actors, such as green sukuk publishers, zakat and waqf collection agencies, stakeholders, capital market regulators, Shariah supervisory boards and Islamic finance experts.

Findings

The main finding of this study is that the development of Islamic green finance in Indonesia can occur through various channels, including greening Islamic capital markets, greening Islamic social finance, Islamic green finance and developing green banking services for the unbanked to support financial inclusion. Green sukuk, or Islamic bonds, are key financial instruments in Islamic green finance. They are used to fund projects in areas such as clean energy, mass transit, water conservation, forestry and low-carbon technology. These green financing initiatives also include socially responsible investments that are designed to improve the lives of people and communities.

Research limitations/implications

First, the availability of data on Islamic green finance practices in Indonesia may be limited, making it difficult to obtain a comprehensive understanding of the current landscape. Second, cultural and religious factors may play a role in the adoption and implementation of Islamic green finance, and these factors may vary across different regions in Indonesia.

Practical implications

The exploration and clustering of Islamic climate finance based on Islamic financial instruments in Indonesia can lead to the development of more sustainable and environmentally friendly practices in the financial industry.

Originality/value

This study serves as a pioneering effort to explore the potential and clustering of Islamic climate finance based on Islamic financial instruments in Indonesia.

Details

International Journal of Ethics and Systems, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 1 March 2003

Felix Iblher and Dominik I. Lucius

Innovative financing instruments are well‐known in Anglo‐American real estate finance markets. This study is the first to analyse the use and structure of the innovative financing

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Abstract

Innovative financing instruments are well‐known in Anglo‐American real estate finance markets. This study is the first to analyse the use and structure of the innovative financing instruments in Germany. Based on a survey addressed to German banks offering real estate financing, instrument‐ and bank‐type specific patterns and reimbursement schemes are examined. While the research shows that innovative instruments are not yet widely used in Germany, banks possess experience in mezzanine capital, project and joint venture financing and are optimistic regarding the future development of demand for these instruments.

Details

Property Management, vol. 21 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 31 May 2011

SooCheong (Shawn) Jang and Kwangmin Park

– The purpose of this study is to understand hospitality finance research through content analysis by examining articles published during the past two decades (1990 to 2009).

8812

Abstract

Purpose

The purpose of this study is to understand hospitality finance research through content analysis by examining articles published during the past two decades (1990 to 2009).

Design/methodology/approach

This study identified subject areas, methodologies, and citations from hospitality finance papers published in four major hospitality journals (Journal of Hospitality & Tourism Research, International Journal of Hospitality Management, International Journal of Contemporary Hospitality Management, and Cornell Hospitality Quarterly).

Findings

A perusal of 113 hospitality finance articles suggested that researchers have focused on several subjects, such as risk management, financing, bankruptcy, and capital structure. Even though qualitative analysis was the most common method in the 1990s, the use of quantitative analyses dramatically increased during the recent decade.

Research limitations/implications

The data were collected from four hospitality journals. If data were collected from more hospitality journals, the most common subjects and citations might be different from the results of this study.

Practical implications

This study offers readers a perspective on how hospitality finance research has been conducted recently and also suggests a big picture about the potential direction of future research.

Originality/value

This study provides valuable information about past and current research streams, as well as the direction of hospitality finance research. Compared with previous review studies, this study concentrated on a specific segment of hospitality research in order to improve basic understanding of what is going on in the hospitality finance research, which has never been examined before.

Details

International Journal of Contemporary Hospitality Management, vol. 23 no. 4
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 1 February 2016

Jim Yuh Huang, Joseph C.P. Shieh and Yu-Cheng Kao

The purpose of this paper is to systematically consolidate and analyze papers in behavioral finance in the past 20 years, and to provide an overall introduction to scholars and…

7202

Abstract

Purpose

The purpose of this paper is to systematically consolidate and analyze papers in behavioral finance in the past 20 years, and to provide an overall introduction to scholars and professionals in the industry who may be interested in behavioral finance in the future.

Design/methodology/approach

The research is based on searching keywords in databases of ISI Web of Science (WOS). Survey data covers the period from 1995 to 2013, with 124 journals and 347 articles. The authors are committed to finding the number of publications and times cited in the field of behavioral finance to measure the contribution of active researchers.

Findings

More research papers in behavioral finance are emerging, making it a significant area of study. Most of the papers can be classified as empirical or theory. The number of papers in the review class should be increased to assist scholars and professionals in understanding behavioral finance and its application. A number of personal and institutional main contributors have been making a considerable impact on the field of behavioral finance. With the vigorous development of financial markets all around the world, more and more scholars are becoming involved in behavioral finance research.

Research limitations/implications

Articles published earlier than 1995 or not included in the WOS database cannot be included in the research; however, this does not diminish the contribution of older scholars in any way. Moreover, the research does not include non-SCI/SSCI articles.

Originality/value

Unlike a traditional literature review, which classifies and elaborates different research paths (Subrahmanyam, 2007), the research adopts the ISI WOS database as a tool for analysis. This new literature review methodology enables us to systematically consolidate and analyze papers in behavioral finance.

Details

International Journal of Managerial Finance, vol. 12 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 7 March 2018

Ugi Suharto

The aim of this paper is to argue analytically that interest and riba are not exactly the same and not an interchangeable terminology. There are similarities and differences…

2889

Abstract

Purpose

The aim of this paper is to argue analytically that interest and riba are not exactly the same and not an interchangeable terminology. There are similarities and differences between the two at the conceptual level.

Design/methodology/approach

To support the argument, the paper shows that it is possible to prove cases where the riba is involved but the interest is not. Hence, there is a situation of the presence of riba without interest. Furthermore, it is also possible to prove cases where the interest is involved but the riba is not. Hence, there is a situation of the presence of interest without riba. The notion and concept of interest in finance are analysed critically in comparison with riba in Islamic jurisprudence (fiqh Islami). So a comparative conceptual analysis is the main methodology of the paper.

Findings

The paper finally suggests that the correct expression should be that Islamic banking and finance is “a ribawi free of banking and finance” instead of “interest free of banking and finance” as it is popularised.

Research limitations/implications

The paper is conceptual in nature. No empirical analysis is pursued.

Practical implications

Islamic finance should not claim it self as interest-free finance, rather riba-free finance.

Social implications

It is more truthful to the society to say that Islamic finance is riba-free finance.

Originality/value

The paper is expected to contribute in the conceptual level of Islamic banking and finance’s understanding by clearing up the basic confusion and misconception about riba and interest. This would consequently minimise or even eliminate the taken-for-granted tendency of denoting the semantic of riba and interest as an interchangeable term, especially when writing in English and addressing the finance’s students and scholars. The semantic clarification between interest and riba hopefully becomes the main contribution of this paper.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 11 no. 1
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 31 August 2010

Rifki Ismal

The paper attempts to analyze the volatility of returns and expected losses of Islamic bank financing. In particular, it takes the case of Indonesian Islamic banking industry.

4196

Abstract

Purpose

The paper attempts to analyze the volatility of returns and expected losses of Islamic bank financing. In particular, it takes the case of Indonesian Islamic banking industry.

Design/methodology/approach

The paper uses Value at Risk (VaR) approach to compute the volatility (risk) of returns and expected losses of Islamic bank financing. In particular, it uses variance‐covariance method to calculate VaR of multi‐asset portfolios (groups of equity‐, debt‐ and service‐based financing).

Findings

First of all, equity and debt‐based financing produce sustainable returns of bank financing. Moreover, they are also very resilient during unfavorable economic conditions. Second, the performance of service‐based financing is very sensitive to the economic conditions. Lastly, VaR computation on the volatility of returns and expected losses of bank financing finds that risk of investment and expected losses are well managed.

Practical implications

The paper demands Islamic banks to keep intensifying equity‐based financing rather than only debt‐based financing and improve the banking services to support the performance of service‐based financing.

Originality/value

To the best of the author's knowledge, this is the first paper to assist the volatility of returns and expected losses of the Islamic banking financing in Indonesian.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 3 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 13 April 2010

Werner DeBondt, William Forbes, Paul Hamalainen and Yaz Gulnur Muradoglu

The paper draws on the key themes raised at a Round Table discussion on behavioural finance attended by academics and practitioners. The paper provides a background to the key…

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Abstract

Purpose

The paper draws on the key themes raised at a Round Table discussion on behavioural finance attended by academics and practitioners. The paper provides a background to the key aims of behavioural finance research and the development of the discipline over time. The purpose of this paper is to indicate some future research issues on behavioural finance that emanate from the financial crisis and highlight areas of mutual benefit to both behavioural finance academics and the finance industry so as to encourage a creative cross‐fertilisation.

Design/methodology/approach

The paper draws on a Round Table discussion on behavioural finance that was organized by the Behavioural Finance Working Group, the Centre for the Study of Financial Innovation and Financial Services Knowledge Transfer Network.

Findings

The paper highlights numerous benefits that behavioural finance research can contribute to the financial industry, but at the same time there is an evident discrepancy between the academic and the professional world when it comes to utilising behavioural finance research.

Practical implications

The paper highlights several areas where behavioural finance can contribute significant benefits to a wide array of aspects of the finance industry.

Social implications

The paper seeks to inform behavioural finance issues so as to encourage collaboration between the academic world and finance practitioners. In so doing, the paper aims to encourage a greater awareness of individual decision‐making frames and heuristics and how industry can apply these concepts to improve the allocation of finance products to society.

Originality/value

The paper brings together a wide array of finance professionals and academics to encourage greater collaboration and mutual respect of each others interest in and uses for behavioural finance.

Details

Qualitative Research in Financial Markets, vol. 2 no. 1
Type: Research Article
ISSN: 1755-4179

Keywords

21 – 30 of over 138000