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Article
Publication date: 31 March 2023

Khoutem Ben Jedidia and Hichem Hamza

Bank lending is the major source of monetary expansion. Bank-led money creation is a key issue in both conventional and Islamic financial systems. The purpose of this paper is to…

Abstract

Purpose

Bank lending is the major source of monetary expansion. Bank-led money creation is a key issue in both conventional and Islamic financial systems. The purpose of this paper is to examine the issues related to Islamic banking money creation. In this conceptual paper, the authors investigate the involvement of profit and loss sharing (PLS) in money creation and especially how can PLS limit money creation “out of nothing.” In this regard, the authors examine the potential of the PLS principle in tackling the excessive money creation phenomenon.

Design/methodology/approach

This study uses a normative approach regarding Islamic bank money creation that fits Sharia directives. In fact, this study discusses “what ought to be,” that is, the values and norms of PLS money creation that impede excessive money creation.

Findings

Overall, Islamic banks create money differently compared to conventional ones. Especially, by avoiding a purely financial intermediary, money creation under the PLS principle sustains a strong relationship with the real economy and leads to a lower money multiplier. Therefore, PLS mechanisms allow financing through real assets and not credit assets “out of nothing.” This could prevent excessive money creation from causing harmful effects on indebtedness and financial instability.

Practical implications

PLS offers a valuable resolution for banking system money creation through the optimization of Islamic bank financing by facilitating the separation of the monetary function from the credit one. This reform thought reinforces the stability value of money allowing it to fully perform its functions with reference to the directives of Sharia. This especially allows the integrity and purchasing power of money, the reduction of the gap between the evolution of both real and financial economies and, consequently, the indebtedness and crisis. It is recommended to promote PLS financing by reforming institutional and regulatory constraints.

Originality/value

This study addresses the contemporary issue of money creation by Islamic banks through the PLS approach. The conceptual framework of this paper highlights the reformist role of PLS in limiting money creation through Mudarabah approach within fractional reserve banking.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 3
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 25 March 2024

Robert Ford and Lindsay Schakenbach Regele

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC…

Abstract

Purpose

This historical example of the creation of the arms industry in the Connecticut River Valley in the 1800s provides new insights into the value of government venture capital (GVC) and government demand in creating a new industry. Since current theoretical explanations of the best uses of governmental venture capital are still under development, there is considerable need for further theory development to explain and predict the creation of an industry and especially those industries where failures in private capital supply necessitates governmental involvement in new firm creation. The purpose of this paper is to provide an in depth historical review of how the arms industry evolved spurred by GVC and government created demand.

Design/methodology/approach

This study uses abductive inference as the best way to build and test emerging theories and advancing theoretical explanations of the best uses of GVC and governmental demand to achieve socially required outcomes.

Findings

By observing this specific historical example in detail, the authors add to the understanding of value creation caused by governmental venture capital funding of existing theory. A major contribution of this paper is to advance theory based on detailed observation.

Originality/value

The relatively limited research literature and theory development on governmental venture capital funding and the critical success factors in startups are enriched by this abductive investigation of the creation of the historically important arms industry and its spillover into creating the specialized machine industry.

Details

Journal of Management History, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1348

Keywords

Article
Publication date: 27 January 2022

Andrew Ebekozien, Clinton Ohis Aigbavboa, John Aliu and Wellington Didibhuku Thwala

Researchers and policymakers have given attention to generic skills development in higher institutions. One of the intentions is to broaden graduate employability with generic…

Abstract

Purpose

Researchers and policymakers have given attention to generic skills development in higher institutions. One of the intentions is to broaden graduate employability with generic skills. In South Africa, there is a paucity of research concerning future built environment practitioners’ (FBEP) generic skills development from the students’ perspective. Thus, this paper aims to investigate South Africa’s FBEP generic skills and suggest feasible solutions to improve FBEP generic skills from the students’ perception.

Design/methodology/approach

The researchers collated the views of FBEP via a phenomenology type of qualitative research design. It covered selected South African public universities and investigated the discourses that underpin “perceived hindrance” in developing generic skills for FBEP. Selected 30 FBEP were engaged in the virtual interviews across three public universities. Data saturation was achieved. Three themes emerged and were analysed through a thematic analysis.

Findings

Findings show that FBEP generic skills development will enhance integrated productivity and higher value for money in construction project delivery. But developing these skills demands a holistic approach. Findings have raised concern with the perceived hindrances facing FBEP in developing generic skills. Findings suggest the need to revisit and revamp the curricula to develop these skills and strengthen policies that will “nip” possible hindrances.

Research limitations/implications

This study was limited to South Africa’s FBEP generic skills from students’ perception. In line with the limited resources, three public universities were covered from the selected provinces in South Africa. Future research with a more diverse sample is needed to ensure a better representative and generalisation of findings.

Practical implications

Findings show that apart from academic knowledge system thinking skills, civic responsibility skills and critical thinking skills are germane for intending construction industry professionals. Others are integrated teamwork skills, good attitude and communication skills, entrepreneurship skills and resources management skills. Findings from this paper may stir up the education sector’s stakeholders to revamp the curricula in enhancing these skills among students from the basic to higher institutions. The outcome will improve productivity in the construction industry.

Originality/value

Although few scholars have discussed generic skills in the built environment, there are limited studies from the students’ context in developing countries, a South Africa case study, a gap this research aims to fill. Also, it proffers ways to mitigate perceived hindrances facing FBEP in developing generic skills.

Details

Journal of Engineering, Design and Technology , vol. 22 no. 2
Type: Research Article
ISSN: 1726-0531

Keywords

Article
Publication date: 27 February 2023

Bhabani Shankar Nayak and Nigel Walton

The paper argues that the classical Marxist theory of capitalist accumulation is inadequate to understand new forms of capitalism and their accumulation processes determined by…

Abstract

Purpose

The paper argues that the classical Marxist theory of capitalist accumulation is inadequate to understand new forms of capitalism and their accumulation processes determined by “platforms” and “big data”. Big data platforms are shaping the processes of production, labour, the price of products and market conditions. “Digital platforms” and “big data” have become an integral part of the processes of production, distribution and exchange relations. These twin pillars are central to the capitalist accumulation processes. The article argues that the classical Marxist theory of capitalist accumulation is inadequate to understand new forms of capitalism and their accumulation processes determined by “platforms” and “big data”.

Design/methodology/approach

As a conceptual paper, this paper follows critical methodological lineages and traditions based on non-linear historical narratives around the conceptualisation, construction and transition of the “Marxist theory of capital accumulation” in the age of platform economy. This paper follows a discourse analysis (Fairclough, 2003) to locate the way in which an artificial intelligence (AI)-led platform economy helps identify and conceptualise new forms of capitalist accumulation. It engages with Jørgensen and Phillips' (2002) contextual and empirical discursive traditions to undertake a qualitative comparative analysis by exploring a broad range of complex factors with case studies and examples from leading firms within the platform economy. Finally, it adopts two steps of “Theory Synthesis and Theory Adaptation” as outlined by Jaakkola (2020) to synthesise, adopt and expand the Marxist theory of capital accumulation under platform capitalism.

Findings

This article identifies new trends and forms of data driven capitalist accumulation processes within the platform capitalism. The findings suggest that an AI led platform economy creates new forms of capitalist accumulation. The article helps to develop theoretical understanding and conceptual frameworks to understand and explain these new forms of capital accumulation.

Originality/value

This study builds upon the limited theorisation on the AI and new capitalist accumulation processes. This article identifies new trends and forms of data driven capitalist accumulation processes within platform capitalism. The article helps to understand digital and platform capitalisms in the lens of digital labour and expands the theory of capitalist accumulation and its new forms in the age of datafication. While critiquing the Marxist theory of capitalist accumulation, the article offers alternative approaches for the future.

Details

Information Technology & People, vol. 37 no. 2
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 27 February 2024

Zahid Iqbal, Zia-ur-Rehman Rao and Hassan Ahmad

To improve the loan repayment performance (LRP) of microfinance banks (MFBs) in Pakistan, this study aims to look at the direct impact of multiple borrowing (MB) on LRP and…

Abstract

Purpose

To improve the loan repayment performance (LRP) of microfinance banks (MFBs) in Pakistan, this study aims to look at the direct impact of multiple borrowing (MB) on LRP and client-business performance (CBP), as well as the direct impact of CBP on LRP. The moderating function of pandemic factors in the relationship between MB and CBP, as well as the mediating effect of CBP in the association between MB and LRP, was also investigated in this study.

Design/methodology/approach

A questionnaire was used to obtain data from 531 lower-level workers of microfinance institutions (MFIs) for the study. The respondents were chosen using stratified sampling, which divided the target population into four influential groups: lending officers in agriculture, lending officers in businesses, lending officers in gold loans and lending officers in salary loans. In this study, a two-stage structural equation modeling approach was used, including a measurement model (outer model) and a structural model (inner model). The validity and reliability of the questionnaire were investigated using the measurement model (outer model), whereas PLS-SEM bootstrapping was performed to test the hypothesis and find the relationship among different underpinning constructs by using the structural model (inner model).

Findings

The outcomes of this study demonstrate that MB has a direct impact on CBP, and that CBP has a direct impact on LRP. MB, on the contrary, had no direct and significant impact on LRP in this study. The idea that CBP mediates the relationship between MB and LRP, as well as the moderating effect of pandemic factors on the relationship between MB and CBP, is supported by this research.

Originality/value

Until now, the influence of MB on LRP via the mediating role of CBP and the moderating role of a pandemic factor in the setting of Pakistani MFBs has received little attention. During the COVID-19 pandemic, this research also aids MFBs in better understanding MB and its impact on LRP. Furthermore, based on the findings of this study, Pakistani MFIs can enhance their LRP by implementing new lending regulations, particularly with reference to MB and the COVID-19 pandemic.

Details

Journal of Asia Business Studies, vol. 18 no. 2
Type: Research Article
ISSN: 1558-7894

Keywords

Article
Publication date: 25 May 2023

Md Noor Uddin Milon and Habib Zafarullah

Money laundering (ML) is a major criminal offence stemming from unethical practices by personnel on the ground at Chattogram Port, an important import and export facility in…

Abstract

Purpose

Money laundering (ML) is a major criminal offence stemming from unethical practices by personnel on the ground at Chattogram Port, an important import and export facility in Bangladesh. Because money can be more easily laundered through imports, it is necessary to investigate the dubious process in this sector. This study aims to identify the items most regularly used for easy ML and the factors contributing to their vulnerability.

Design/methodology/approach

This research uses a qualitative approach and analyses information from primary sources. Data is obtained from customs officials, port authority personnel, importers and customs brokers through semi-structured questionnaires. Although there are many techniques for ML, this study only found three most overwhelming: under-invoicing, over-invoicing and misdeclaration. A few case studies have been used based on newspaper reports and the internet to triangulate the qualitative data.

Findings

Four import items – food products, garments, capital machinery and chemicals – have a higher risk of ML. This study also revealed that money launderers prefer under-invoicing food and garment items. Misdeclaration is more commonly associated with capital machinery and chemical items. Over-invoicing, on the other hand, is only prevalent in government purchases. The port authorities need to pay particular attention to these issues.

Research limitations/implications

As ML is an ongoing activity that changes over time, the findings of this research are circumscribed by the data collected at a single point in time. Additionally, this research did not consider alternative laundering methods.

Practical implications

The research results can provide a basis for creating effective anti-money laundering (AML) strategies to assist with sustainable economic growth.

Social implications

Developing effective AML measures can help combat corruption and establish good governance in the country and support human well-being.

Originality/value

This paper presents original research findings based on technical analysis. The Chattogram Port Authority and the National Board of Revenue have accepted and used the main findings in a collaborative action plan to tackle ML. The Bangladesh Bank, the country’s central bank, has also incorporated the necessary guidelines and regulations into the Money Laundering Prevention Act, 2012.

Details

Journal of Money Laundering Control, vol. 27 no. 3
Type: Research Article
ISSN: 1368-5201

Keywords

Open Access
Article
Publication date: 7 February 2024

James Guthrie, Francesca Manes-Rossi, Rebecca Levy Orelli and Vincenzo Sforza

This paper undertakes a structured literature review to analyse the literature on performance management and measurement (PMM) in universities over the last four decades. Over…

Abstract

Purpose

This paper undertakes a structured literature review to analyse the literature on performance management and measurement (PMM) in universities over the last four decades. Over that time, PMM has emerged as an influential force in universities that impacts their operations and redefines their identity.

Design/methodology/approach

A structured literature review approach was used to analyse a sample of articles on PMM research from a broad range of disciplines over four decades. This was undertaken to understand the impacts of PMM practices on universities, highlight changes over time and point to avenues for future research.

Findings

The analysis highlights the fact that research on PMM in universities has grown significantly over the 40 years studied. We provide an overview of published articles over four decades regarding content, themes, theories, methods and impacts. We provide an empirical basis for discussing past, present and future university PMM research. The future research avenues offer multiple provocations for scholars and policymakers, for instance, PMM implementation strategies and relationships with various government programs and external evaluation and the role of different actors, particularly academics, in shaping PMM systems.

Originality/value

Unlike a traditional literature review, the structured literature review method can develop insights into how the field has changed over time and highlight possible future research. The sample for this literature review differs from previous reviews in covering a broad range of disciplines, including accounting.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 36 no. 6
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 5 December 2023

Musa Ghazwani, Ibrahim Alamir, Rami Ibrahim A. Salem and Nedal Sawan

This study aims to examine the impact of corporate governance (CG) on anti-corruption disclosure (A-CD), paying particular attention to the FTSE 100. Notably, it examines how…

Abstract

Purpose

This study aims to examine the impact of corporate governance (CG) on anti-corruption disclosure (A-CD), paying particular attention to the FTSE 100. Notably, it examines how board and audit committees’ characteristics affect the quantity and quality of anti-corruption disclosure.

Design/methodology/approach

Data from FTSE 100 firms, spanning the period from 2014 to 2020, were analysed using the regression of the Poisson fixed effect and GEE analyses.

Findings

The findings show that gender diversity, audit committee expertise and the independence of the audit committee are positively associated with both quantity and quality of anti-corruption disclosure. Notably, no statistically significant relationships were identified between anti-corruption disclosure and factors such as board size, role duality or board meetings.

Research limitations/implications

The findings provide valuable insights for decision-makers and regulatory bodies, shedding light on the elements that compel UK companies to enhance their anti-corruption disclosure and governance protocols to alleviate corruption and propel efforts towards ethical behaviour.

Originality/value

This study makes a notable contribution to the sparse body of evidence by examining the influence of board and audit committee attributes on anti-corruption disclosure subsequent to the implementation of the UK Bribery Act in 2010. Specifically, to the best of the authors’ knowledge, this study assesses for the first time the impact of board and audit committee mechanisms on both the quantity and quality of anti-corruption disclosure.

Details

International Journal of Accounting & Information Management, vol. 32 no. 2
Type: Research Article
ISSN: 1834-7649

Keywords

Article
Publication date: 7 February 2022

Bankole Osita Awuzie, Zwelinzima P. Mcwari, Progress Shingai Chigangacha, Clinton Ohis Aigbavboa, Theo C. Haupt and Lovelin Obi

An increase in outsourcing of consultancy services has been observed during procurement and delivery of public-sector infrastructure projects. However, the incidence of project…

Abstract

Purpose

An increase in outsourcing of consultancy services has been observed during procurement and delivery of public-sector infrastructure projects. However, the incidence of project failure has continued unabated despite this shift by public-sector entities. Also, there appears to be limited literature focussed on seeking to provide the rationale governing the decision to outsource or insource consultancy services by public-sector organisations. The purpose of this study was to appraise the performance of public-sector projects in which consultancy services have been outsourced or insourced. These are the gaps which this study was undertaken to fill.

Design/methodology/approach

A grounded theory methodology (GTM) research design was adopted based on the nature of evidence sought and gathered from a Provincial Department of Public Works and Infrastructure (PDPWI) in South Africa. Data was obtained from a mixture of semi-structured interviews and project-specific documents spanning a five-year period and was analysed according to the procedures associated with GTM. Accordingly, open coding, axial coding and pattern matching were carried out at several intervals to develop categories and themes.

Findings

The findings of the study showed the absence of a structured approach within the PDPWI for facilitating decisions pertaining to outsourcing or insourcing consultancy services within construction projects. Furthermore, the study established that both approaches yielded similar results across all performance facets of cost, time and quality. In addition, a detailed insight into the steps required for the successful application of GTM in built environment research has been provided in the study.

Originality/value

Limited studies have been undertaken to compare the impact of either outsourced or insourced services on the organisational and project performance. This was the gap to which the study reported in this paper was undertaken to contribute.

Details

Journal of Engineering, Design and Technology , vol. 22 no. 2
Type: Research Article
ISSN: 1726-0531

Keywords

Book part
Publication date: 26 March 2024

Ekrem Tufan, Merve Aycan and Bahattin Hamarat

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this…

Abstract

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances.

Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey.

Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied.

Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’.

Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

Keywords

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