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1 – 9 of 9Ahmed Soliman, Yahya A. Soliman, Ghada Farouk Hassan and Samy Afifi
The purpose of this article is to examine Cairo's master plans during the past 70 years, including the establishment of the New Administrative Capital City—which is based on two…
Abstract
Purpose
The purpose of this article is to examine Cairo's master plans during the past 70 years, including the establishment of the New Administrative Capital City—which is based on two fundamental courses on the phenomenon of urbanisation—and other initiatives to address Cairo's Plans based on the thoughts of three planning schools—Chicago, Los Angeles and Liverpool. The aim is to determine if the right time to relocate Egypt's capital to a different place makes sense.
Design/methodology/approach
Cairo has experienced significant urban challenges throughout its millennial history due to the continually shifting socioeconomic and political changes. This research uses prospective and retrospective methods to examine how planning theories have historically influenced building Cairo’s urban fabric and provides insight into the city’s master plans from the July Revolution of 1952.
Findings
It is assumed that Cairo's socio-spatial transitions over time were caused by scattered expansion, leading to contemporary Cairo's socio-spatial evolution. The paper ends with some questions about the future of the city. Should planning policies change to cope with socioeconomic, spatial and political transitions?
Originality/value
The article's significance stems from the necessity of adaptable and considerate ideas that move Cairo's communities towards a better setting and provide a crucial route for enhancing their environments. Using digital technologies to implement new capital while creating platform urbanism may be accomplished even with constrained budgets and short course lengths.
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This study aims to map the digital risks for the Islamic finance industry. Since 2010, the financial space has largely shifted from being banking-centric to the entrepreneurship…
Abstract
Purpose
This study aims to map the digital risks for the Islamic finance industry. Since 2010, the financial space has largely shifted from being banking-centric to the entrepreneurship spectrum, benefiting from groundbreaking innovations in computer technology. The problem of Islamic Finance is that it is still within its banking-centric moment that is risk averse leading to financial exclusion. As with all innovations, there are associated risks that require careful consideration to ensure the reaping of the benefits of these technologies while controlling the risks at its lowest. In this context, the aim of this study is to highlight the risks associated with financial technologies (FinTech) to prepare the Islamic finance sector to serve the economic ideals of Maqāṣid al-Shariah in financial inclusion and profit and loss sharing. The main research question is as follows: What do Islamic Finance industry need to do to manage the digital risks for financial inclusion?
Design/methodology/approach
This study uses narrative review method in analysing the discourse of financial technology literature using qualitative data collected from the literature on the topic. It aimed to problematise associated digital risks from the Shariah compliance and Maqā¸ṣid al-Shariah critical viewpoints. Considering the nature of this conceptual study, it adopts a qualitative methodology by using discourse and thematic analysis of the literature that can lay the foundation for future empirical testing on the topic.
Findings
The study found that managing risks faced by the Islamic financial sector while adapting to the digital era can be divided into two main clusters: risk mitigation for Shariah-compliant FinTech and risk avoidance for Shariah non-compliant innovations. The high level of gharar associated with current practices in both cryptocurrencies and smart contracts needs additional regulation and simulation before they can be reconsidered for market-wide application. Cloud computing, crowdfunding and big data have promising applications that can address the limitations of the Islamic finance industry, particularly in terms of reducing transactional costs.
Research limitations/implications
This conceptual article offers some insights into the subject; nevertheless, it does not attempt to establish causation or generalise the results. Additional statistical testing is required prior to generalising the results.
Practical implications
Due to the difficulties experienced since its inception, the Islamic financial industry is in urgent need of the cutting-edge solutions required to gain a competitive edge in the market and get over the limits that came with its late entry into the financial sector. Mapping digital risks is imperative for the development of comprehensive prudential risk management strategies for the Islamic finance industry that can fix its problems and enable it to deliver the more favourable Shariah-based solutions, rather than remaining in the lower bands of Shariah compliance.
Originality/value
Findings of the study lay the foundation for empirical testing the volatility of FinTech innovations for the Islamic finance industry to reduce uncertainties and generate reliable forecasts. Scholarship on managing digital risks for Islamic financial institutions is still developing due to the covid global lockdown and the looming recession, and this study will help enhance theorisation necessary that can aspire economic recovery after current challenges.
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Navendu Prakash, Shveta Singh and Seema Sharma
This paper aims to investigate the short- and long-run influence of core banking solutions (CBSs) on productive efficiency and identify the presence of potential network…
Abstract
Purpose
This paper aims to investigate the short- and long-run influence of core banking solutions (CBSs) on productive efficiency and identify the presence of potential network externalities arising from CBS adoption. This paper further examines the differential behaviour of long-term effects across the banking structure.
Design/methodology/approach
This study uses a panel data set of Indian commercial banks from 2005 to 2021. Economic efficiency is quantified using VRS-based DEA programming algorithms. Productivity changes are measured through an input-oriented, DEA-based Malmquist productivity index. Short- and long-run effects are examined through a finite autoregressive distributed lag model, estimated through a pooled mean-group estimator.
Findings
Findings suggest that CBS adoption negatively correlates with cost structure until the first year of adoption. Nevertheless, significant benefits are visible from the third year. Furthermore, such associations are highly susceptible to the industry structure. CBS results in higher incremental benefits for private banks vis-à-vis state-owned banks. Large banks receive significant and quicker productivity improvements from CBS vis-à-vis small banks. Bank age guides CBS–performance associations, highlighting that mature banks may face the issue of legacy infrastructure in CBS adoption. The resultant networking externalities are significant as they enhance the attractiveness of the network, which subsequently augments inter-branch and inter-bank communications.
Originality/value
To the best of the authors’ knowledge, this study is the first to recognise the stickiness of one of the most homogeneously adopted technological innovations in the Indian banking sector. The presence of a conjoint technological network has the potential to enhance the service delivery process and ensure superior returns for Indian banks.
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Mahadi Hasan Miraz and Tiffany Sing Mei Soo
The objective of this study is to examine the various factors that exert an influence on the green economy. This study also investigates the impact of foreign direct investment…
Abstract
Purpose
The objective of this study is to examine the various factors that exert an influence on the green economy. This study also investigates the impact of foreign direct investment (FDI) on the Malaysian economy, specifically focusing on its position as a mediator. This research also examines the correlation between FDI and its influence on the contemporary green economy.
Design/methodology/approach
The authors employed quantitative methodologies and a self-administered survey to evaluate data and derive a definitive conclusion. The result was constructed using SPSS and SEM-PLS as the analytical software.
Findings
The study reveals that technological advancement, investment country and government policy significantly and positively affect the green economy, catalyse SDG goals and restructure the economy in better shape.
Originality/value
The current empirical research bridges the research gap in the context of technology advancement in government policy from emerging economies by exploring important factors, proposing their impact on the performance of the green economy, and empirically testing those hypothesized relationships. This study deciphers that FDI influences the green economy, where the investment country plays a significant role. Also, for a graphical presentation of this abstract, see the online appendix.
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Jiapeng Wu, Dayu Gao, Cheng Xu and Yanqi Sun
This paper aims to investigate the influence of the regional business environment on local firm innovation, considering various dimensions such as administrative, financial and…
Abstract
Purpose
This paper aims to investigate the influence of the regional business environment on local firm innovation, considering various dimensions such as administrative, financial and legal environments.
Design/methodology/approach
Multiple regression analysis is employed to analyze archival data for firms listed on Chinese stock markets.
Findings
We find that the optimizations of the administrative and financial environments positively affect firm innovation, whereas the legal environment does not exert a similar impact. Our analysis also reveals that the business environment’s optimization significantly influences innovation in firms that are small, non-state-owned and operating in high-tech industries. Furthermore, the business environment acts as a moderating variable in the relationship between firm innovation and firm value.
Research limitations/implications
This study contributes to a more comprehensive understanding of institutional-level determinants of firm innovation, highlighting the nuances of the legal environment and the importance of context-specific analysis, especially in emerging markets like China.
Practical implications
Developing countries can significantly enhance firm innovation by improving the business environment, including the optimization of administrative and financial systems, reducing transaction costs and ensuring capital supply. Tailored legal frameworks and alternative institutional strategies may also be explored.
Social implications
This study explicitly emphasizes the governmental role in promoting firm innovation, shedding light on policy formulation and strategic alignment with local administrative policies.
Originality/value
To the best of our knowledge, this paper is the first to explore the relationship between the business environment and firm innovation using World Bank indicators in an emerging market context, providing novel insights into the unique dynamics of legal, financial and administrative sub-environments.
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This study examines how informal business networks achieve marketing goals in socially uncertain contexts. Drawing from multiple historical sources, Shangbangs, a type of business…
Abstract
Purpose
This study examines how informal business networks achieve marketing goals in socially uncertain contexts. Drawing from multiple historical sources, Shangbangs, a type of business network that thrived in pre-1949 China, are analyzed.
Design/methodology/approach
The Critical Historical Research Method (CHRM) undergirds a study of Shangbangs’ historicity (i.e. their socio-historically embedded multiplicity, including organizational forms, activities and connotations.
Findings
As informal regional, professional, project-based, special-product-based or mixed marketing networks, Shangbangs relied on “flexible specialization” and coupled multiple business needs to market goods and services, business organizations, specific social values and, when necessary, to debrand business rivals.
Research limitations/implications
This analysis extends theories about marketing networks by probing their subtypes, diverse marketing activities, multipronged channels and relationship building with social entities (including underground societies, business associations and guilds) in response to pre-1949 China’s market uncertainties. Substantiating an alternative approach to “flexible specialization” and marketing innovations within the pre-1949 Chinese economy shows how a parallel theoretical framework can complement western-based marketing theories.
Originality/value
This first comprehensive analysis of Shangbangs, an innovative historical Chinese marketing network outside the conventional market-corporate dichotomy, can inform theory building for marketing strategy-making and management conditioned by social contexts.
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This study aims to investigate the impact of market competitiveness on investment efficiency, and the moderating role of ownership and regulatory structures.
Abstract
Purpose
This study aims to investigate the impact of market competitiveness on investment efficiency, and the moderating role of ownership and regulatory structures.
Design/methodology/approach
In this study, the Herfindahl–Hirschman Index (HHI), Lerner Index (LI) and industry-adjusted Lerner Index (LIIA) were used to measure market competitiveness. The research population consisted of companies listed on Tehran Stock Exchange (TSE). Using a systematic elimination, 199 companies were selected within eight years during 2014–2021.
Findings
The results showed that market competitiveness (based on the LI, LIIA and HHI) positively affected investment efficiency. Moreover, institutional ownership and managerial ownership affected the relationship between market competitiveness (based on all proxies of market competitiveness) and investment efficiency. Blockholders’ ownership also moderated the relationship between market competitiveness (based on LIIA and HHI) and investment efficiency. The hypothesis testing had robustness based on additional analyses.
Originality/value
In recent years, competitive environment and the ownership structure of companies have changed to a certain degree, paving the way for the private sector to enter many areas of activity especially in emerging Asian markets. Moreover, investment drivers and investment efficiency in developed markets may not be generalized to emerging Asian markets. Therefore, the present findings can show the significance of this research to fill the existing gap in the literature and provide insights into ownership and regulatory structures as a governance mechanism in market competitiveness and investment efficiency.
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The research on corporate social responsibility (CSR) and firm performance (FP) has seen a surge over the years. However, the role of corporate reputation (CR), advertising…
Abstract
Purpose
The research on corporate social responsibility (CSR) and firm performance (FP) has seen a surge over the years. However, the role of corporate reputation (CR), advertising strategy and market competition is still unclear. The purpose of this study is to consider this gap and test an integrative model of CSR-FP, in the context of India.
Design/methodology/approach
The data for CSR expenditure were collected from the annual reports of the selected companies. CR was captured using the ranks of Fortune India 500, Business Standard 1,000 and Economic Times 500. The financial data were collected from CMIE (Prowess) database.
Findings
Results of structural equation modeling (SEM) revealed a significant relationship between CSR expenditure of the firm and its reputation; but no relationship between CR and performance. When CR increases, the performance of a firm may not improve. Competitive intensity (CI) had no statistically significant role in the CR-FP relationship for performance. Results suggest that reputed firms perform well despite high competition within an industry. High reputation is effective in improving performance irrespective of competition. CI has a positive impact in the reputation–performance linkage. Advertising intensity (AI) played a significant moderating role in the CSR intensity and CR relationship.
Originality/value
This research represents an added value for the literature on CSR by highlighting the importance of CR, advertising strategy and market competition in the relationship between CSR and FP. The findings have several implications for theory and practice, which have been discussed in the study.
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This study aims to investigate how the Chinese Belt and Road Initiative (BRI) and Chinese outward foreign direct investments (FDI) impact the Belt and Road countries (BRCs). It…
Abstract
Purpose
This study aims to investigate how the Chinese Belt and Road Initiative (BRI) and Chinese outward foreign direct investments (FDI) impact the Belt and Road countries (BRCs). It draws on postcolonial theory to investigate the (geo)political objectives behind the financial and economic means.
Design/methodology/approach
In line with the nature of postcolonial studies, the study applies a discourse analysis integrating it with empirical data on indebtedness and trade.
Findings
This study finds that FDI and the BRI, as a development project, need to be considered a double-edged sword for the receiving countries. The authors provide evidence that China has instrumentalized financial and economic means to gain political influence and pursue geopolitical ambitions. Moreover, investments into sensitive sectors (e.g. energy, infrastructure), combined with the BRCs’ inability to pay back loans, could eventually lead to China gaining control of these assets.
Research limitations/implications
The study investigates the financial and economic means that are instrumentalized to gain political influence while not considering flows of technology and know-how. It also limits itself to the study of FDI coming from one specific country, i.e. China. Therefore, no comparison and evaluation are made of FDI from other countries, such as the USA or European countries.
Practical implications
By revealing noncommercial objectives and geopolitical ambitions that China pursues through the BRI, the authors derive policy implications for the BRCs, third countries and China.
Originality/value
The study contributes to postcolonial theory and neocolonialism by investigating how China uses financial and economic means to achieve noncommercial objectives and pursue geopolitical ambitions. Additionally, the authors enhance the understanding of FDI by highlighting more subtle aspects of the complex and contextual nature of FDI as a social phenomenon, which have been overlooked thus far. The authors challenge the predominant positive framing of FDI and provide a counterpoint to the way FDI is often coined.
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