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Article
Publication date: 5 July 2021

Mohsin Shafi, Yongzhong Yang, Zoya, Liu Junrong, Imran Ur Rahman and Hina Fatima

Though certain characteristics of micro-firms affect the likelihood of their participation in external relationships, how cooperation in craft enterprises differs from low and…

1156

Abstract

Purpose

Though certain characteristics of micro-firms affect the likelihood of their participation in external relationships, how cooperation in craft enterprises differs from low and high-tech enterprises has not been investigated yet. Therefore, this study aims to fill the above gap in the literature.

Design/methodology/approach

This study adopts a descriptive approach by extensively reviewing relevant literature to explore the unique characteristics and nature of micro-firm's co-operative behavior. The theoretical approach of this research is grounded in resource-based view and dynamic capabilities theories.

Findings

This study finds that handicraft micro-firms possess special and unique characteristics that differentiate them from low- and high-tech firms. Further, handicraft micro-firms' co-operative behavior also differs from other firms in terms of cooperation motives, breadth, depth and factors that inhibit or promote cooperation. Additionally, in small handicraft firms, the co-operation is more informal, personal and through social networks, whereas in the corporate sector, it is more formal, direct and through supply chains. This study also argues that contrary to handicraft and low-tech firms, high-tech firms are more likely to cooperate with external partners and invest heavily in R&D for new product development (often radical in nature).

Originality/value

This study enriches our understanding of handicraft micro-firms' special and unique characteristics that differentiate them from low- and high-tech micro-firms. This research also provides in-depth knowledge to understand the handicraft micro-firms’ co-operative behavior and how it differs from low- and high-tech firms.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 16 no. 5
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 1 December 2020

Mohsin Shafi, Lixi Yin, Yue Yuan and Zoya

This study aims to examine issues affecting the growth and survival of traditional handicraft enterprising community in Pakistan, and analyzes their strengths, weaknesses…

1242

Abstract

Purpose

This study aims to examine issues affecting the growth and survival of traditional handicraft enterprising community in Pakistan, and analyzes their strengths, weaknesses, opportunities and threats, as well as develops strategic solutions to overcome the problems identified for their revival.

Design/methodology/approach

This exploratory study is based on a descriptive approach because it attempts to investigate the critical issues faced by traditional handicraft enterprising community. To operationalize the theoretical approach, this paper used a SWOT analysis of craft enterprising community. After thoroughly reviewing relevant literature, this study put forward strategic solutions for the revival of the traditional enterprising community. Moreover, secondary data on employment and gender wage gap were used to provide empirical evidence of the issues identified and emphasize the importance of strategic solutions.

Findings

This study found that traditional handicraft producers are facing many problems that hinder their survival and growth. This paper, therefore, makes some essential strategic recommendations on how to overcome these issues. The current research argues that Pakistan’s handicraft industry must be revived; else, centuries-old traditional culture and patrimonial knowledge will vanish. Moreover, there is a need to attract foreign investment to overcome resource limitations and improve the competitive capability of the enterprising community. Notably, government intervention is necessary for the revival of the traditional handicraft industry.

Originality/value

This study provides in-depth knowledge of issues faced by the Pakistani traditional handicraft enterprising community and suggests possible strategic solutions for the problems identified. Unlike previous studies, this research also discusses the essential characteristics of traditional handicrafts that differentiate them from identical mechanized products.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 15 no. 4
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 17 July 2020

Mohsin Shafi

Despite their economic and cultural significance, the growth of handicraft micro firms is vulnerable, given their small size and resource limitations. By examining the impact of…

1282

Abstract

Purpose

Despite their economic and cultural significance, the growth of handicraft micro firms is vulnerable, given their small size and resource limitations. By examining the impact of cooperation on firm performance via innovation capability, this study shows how micro firms can address constraints and achieve sustainable development by acquiring and utilizing external resources, complemented by innovation capability, through internal development.

Design/methodology/approach

Data were collected from 164 handicraft micro firms in Pakistan via a questionnaire. Structural equation modeling was employed to estimate interrelations of various constructs simultaneously and control measurement errors.

Findings

The impact of cooperation with customers and suppliers on firm performance via innovation capability was positive and significant. Contrarily, competitor cooperation did not significantly affect innovation capability. Furthermore, there was a positive and significant interaction effect of customer and competitor cooperation on innovation capability. Thus, micro firms must reinforce their customer and supplier relationships through innovation capability and internal transformation for sustainable development. Moreover, a balance must exist between cooperation and competition to achieve optimal innovation returns for the sustainable development of firms.

Originality/value

This study emphasized that micro firms must strengthen their customer and supplier relationships via innovation capability and internal development to achieve higher performance. Moreover, the study introduced a new dimension for measuring firm performance.

Details

International Journal of Emerging Markets, vol. 16 no. 8
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 28 April 2023

Renping Zhang, Xingyu Chen, Wei Wang and Mohsin Shafi

This study aims to explore the impact of firm-generated content (FGC) on viral marketing on multiple social media platforms, and how social ties embedded in different social media…

1099

Abstract

Purpose

This study aims to explore the impact of firm-generated content (FGC) on viral marketing on multiple social media platforms, and how social ties embedded in different social media platforms affect the motives for social dissemination.

Design/methodology/approach

Three studies were conducted to test the model. A quasi-field experiment (Study 1) supported this main effect. Studies 2 and 3 examined the underlying mechanism and enhanced the internal and external validity of the findings.

Findings

The findings revealed that warmth (vs competence)-oriented FGC is consistent with the communion (vs agency) mode and elicits greater social dissemination on social media embedded with strong (vs weak) ties.

Practical implications

This study illustrates that FGC that matches communication modes on multiple social media platforms embedded with different social ties will trigger viral marketing and being aware of this match is crucial for policymakers.

Originality/value

This research sheds light on the effects of FGC on viral marketing on multiple social media platforms embedded in different social ties.

Details

Journal of Consumer Marketing, vol. 40 no. 6
Type: Research Article
ISSN: 0736-3761

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Article
Publication date: 1 April 2024

Ahmad Hidayat bin Md Nor, Aishath Muneeza and Magda Mohsin

This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and…

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Abstract

Purpose

This study aims to develop a comprehensive insolvency model tailored to Islamic banks, ensuring alignment with Shariah principles throughout pre-insolvency, bankruptcy and post-bankruptcy stages.

Design/methodology/approach

The research adopts a qualitative research method, using a desktop research approach. Primary sources and secondary sources are examined to gather information and draw conclusions.

Findings

This study presents a comprehensive insolvency model designed for Islamic banks, rooted in Shariah principles. The model covers pre-insolvency, bankruptcy (taflis) and post-bankruptcy stages, incorporating key Shariah parameters to ensure adherence to Islamic finance principles. It addresses challenges such as adapting to dynamic financial landscapes and varying interpretations of Shariah principles. Notably, the model recognizes the separate legal personality of Islamic banks and emphasizes transparency, fairness and compliance with religious obligations. In the post-bankruptcy stage, directors are urged to voluntarily settle remaining debts, aligning with ethical and Shariah-compliant standards.

Originality/value

The study contributes to the stability and growth of Shariah-compliant financial systems by extending insolvency principles to Islamic banks, providing a foundation for future research and policymaking specific to this context.

Details

International Journal of Law and Management, vol. 67 no. 1
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 19 August 2021

Muhammad Sadiq, Sakkarin Nonthapot, Shafi Mohamad, Ooi Chee Keong, Syed Ehsanullah and Nadeem Iqbal

The discourse aimed to investigate green finance practices under the assumptions of several notable climate advisors and speculators in Asia and particularly in Southeast Asia…

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Abstract

Purpose

The discourse aimed to investigate green finance practices under the assumptions of several notable climate advisors and speculators in Asia and particularly in Southeast Asia. The study intrigues by considering financial specialists to vent government spending on green restoration plans leading toward green bankable venture openings for the public and private sector. This section distinguishes a few of the green fund components and approaches that can be joined by national and neighborhood governments, essentially in Southeast Asia, into their post-COVID-19 techniques, but are too valuable inputs for domestic commercial banks and private corporates.

Design/methodology/approach

It can be defined as a functional type for Cobb Douglas development. ARDL technology is a way of calculating complex forces at the classification level at long-term and short-term stages. This ARDL approach has many advantages and can be implemented when incorporated in level I (0) and level I first (1) with the original variable. Still, it offers robust ability to the outcomes and standardizes the lag, considering the number and sample size used. Pooled mean group (PMG) method is becoming a convenient technique for monitoring data over the period and a good approach for energy impact panels – growth ties for creating links between energy emissions and environmental sustainability and businesses in the nation.

Findings

There is a positive partnership between creativity and a sustainable world. Corporations are recommended to uphold the principles of CSR in the development process by introducing environmentally friendly advanced technologies. The main objectives of corporate social responsibility (CSR) are economic growth, environmental sustainability and social justice. Several programs have been established to expand businesses' responsibilities to improve their confessions in sustainable growth. SMEs are a primary source of production of innovative products and technologies. The key concerns of stakeholders and politicians in the new competitive business climate are the protection of environmental sustainability and social responsibility, recognizing factors driving economic development for SMEs.

Originality/value

During the COVID-19 era, the prime responsibility of pandemic confronting governments is to spend on help activities (that have been started in earlier phase) and recovery endeavors (yet to start in the situation). Therefore, the governments may devise policies to pool resources from commercial, private, public-private partnerships and other capital market sources. With rising hazard recognitions particularly emerging from at-threat income projections, governments ought to make the correct mechanisms and instruments that can perform this catalytic part of derisking and drawing in such capital. This too can be an opportunity for governments to enhance and execute such financial instruments that offer assistance, quicken their commitments to climate alter beneath the Paris Agreement and the sustainable development goals (SDGs), and thus “build back better” is being progressively voiced over the world.

Details

China Finance Review International, vol. 12 no. 2
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 7 August 2017

Rose Abdullah and Abdul Ghafar Ismail

The purpose of this paper is to explore two main aspects of waqf: the characteristics of waqf property and the management of waqf. This paper also discusses the governance of waqf…

1883

Abstract

Purpose

The purpose of this paper is to explore two main aspects of waqf: the characteristics of waqf property and the management of waqf. This paper also discusses the governance of waqf management as a source of funds for Islamic microfinance institutions (MFIs).

Design/methodology/approach

This research uses content analysis method to examine various literatures that discuss the concept and management of waqf.

Findings

The characteristics of cash waqf such as permanence, irrevocability and perpetuity differentiate waqf from other type of donations. Therefore, cash waqf-based Islamic microfinance needs to be sustainable. Good corporate governance is vital to ensure the sustainability. As the donors of cash waqf do not aim to make financial profit, waqf-based Islamic MFIs will be able to provide low-cost capital to the poor entrepreneurs. Furthermore, to ensure the perpetuity of the waqf, it is suggested that only revenue from the waqf property should be used for microfinance fund.

Social implications

The cash waqf-based Islamic microfinance will help the micro entrepreneurs to get low-cost capital without collateral. At the same time, public can donate any amount they afford to contribute to cash waqf.

Originality/value

The creation of a cash waqf-based Islamic MFI must observe the issues of agency conflicts and the right of stakeholders to a transparent management. This paper emphasizes the importance of good governance in managing the waqf property as a source of fund for Islamic MFIs.

Details

International Journal of Social Economics, vol. 44 no. 8
Type: Research Article
ISSN: 0306-8293

Keywords

Available. Open Access. Open Access
Article
Publication date: 7 June 2021

Azniza Hartini Azrai Azaimi Ambrose and Fadhilah Abdullah Asuhaimi

The purpose of this paper is to comprehensively discuss the issue of risk vis-à-vis the perpetuity restriction principle inherent in waqf (Islamic endowment). Specifically, it…

4878

Abstract

Purpose

The purpose of this paper is to comprehensively discuss the issue of risk vis-à-vis the perpetuity restriction principle inherent in waqf (Islamic endowment). Specifically, it attempts to consolidate the axioms in both conventional and Islamic finance, such as the risk-return trade-off and al-ghunm bi al-ghurm (liability accompanies gain), with the perpetual nature of waqf. Overall, this paper attempts to find a resolution to the dilemma of perpetuity restriction inherent in cash waqf against the natural occurrence of the risk.

Design/methodology/approach

This paper is based on the secondary research methodology; past literature encompassing journal articles, books, relevant financial axioms, fatwas (Islamic rulings) and state enactments is critically reviewed to present its case. In regard to state enactments, only Malaysian state enactments have been used, thus restricting the study to the Malaysian case only.

Findings

This study contends that the dilemma of the perpetuity restriction and the natural occurrence of risk can be resolved through the integration of waqf risk management, especially concerning cash waqf, with the Islamic spiritual approach. By implementing standard operating procedures that inculcate awareness on waqf risk management and Islamic spirituality in waqf stakeholders (wāqif (donor), trustee and beneficiaries), the stakeholders may accept the reality of risk that is inevitable even after all efforts have been exhausted. In other words, the violation of perpetuity is exonerated given that mental faculties aligned with revealed texts have been exhaustively used beforehand.

Practical implications

Findings from this study may broaden the choice of investment avenues for waqf trustees while adhering to the perpetual restriction of waqf. More importantly, waqf trustees will not be forced to invest in interest-bearing securities or be involved in any usurious transactions just to obtain guaranteed returns and preserve the corpus of waqf.

Originality/value

This study offers a unique perspective on cash waqf risk management by re-analyzing the axioms and concepts of finance and waqf while observing the welfare of the beneficiaries.

Details

ISRA International Journal of Islamic Finance, vol. 13 no. 2
Type: Research Article
ISSN: 0128-1976

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Article
Publication date: 3 October 2023

Meshari Al-Daihani, Khadar Ahmed Dirie, Md. Mahmudul Alam and Ahmad Sufian Abdullah

Cash waqf is a powerful financial instrument that deals with the issue of liquidity constraints in waqf institutions. While there are several models of cash waqf operating in…

485

Abstract

Purpose

Cash waqf is a powerful financial instrument that deals with the issue of liquidity constraints in waqf institutions. While there are several models of cash waqf operating in different countries, there is increasing demand for innovative cash waqf models, especially within the financial technology context. This paper aims to propose a practical alternative model of funding for waqf institutions using the concepts of crowdfunding and cash waqf.

Design/methodology/approach

This study evaluated the literature relevant to cash waqf models that have been implemented in different countries and proposed a new viable alternative model.

Findings

Results offer an alternative financing model, named crowdfunding cash waqf model, for waqf institutions to overcome monetary constraints and enable development projects to be completed.

Practical implications

The current study has important implications for both officials and relevant stakeholders. It is sought to bring better consistency between cash waqf donors, solving the liquidity problem faced by waqf institutions, enhancing the transparency of waqf institutions and their use of waqf funds, wealth circulation and financing businesses without interest-based loans (riba). By incorporating a crowdfunding and investment mechanism in the model, this method of collecting funds will assist governments in reducing their expenditure on waqf institutions and other social development programmes.

Originality/value

The proposed model differs from current methods of generating cash waqf, including those are also internet-based. The proposed model is devised to help waqf institutions achieve financial sustainability by including an investment mechanism in the model to sustain the development of waqf projects.

Details

Journal of Islamic Accounting and Business Research, vol. 16 no. 1
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 8 February 2018

Azniza Hartini Azrai Azaimi Ambrose, Mohamed Aslam Gulam Hassan and Hanira Hanafi

The purpose of this paper is to formulate a model for waqf financing of public goods and mixed public goods in Malaysia which constitute the country’s federal government…

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Abstract

Purpose

The purpose of this paper is to formulate a model for waqf financing of public goods and mixed public goods in Malaysia which constitute the country’s federal government expenditures. The model is built on the basis of understanding the concept of waqf, learning from waqf institutions of the past and present and addressing specific Malaysian waqf issues.

Design/methodology/approach

This study uses both primary and secondary data. The primary data originate from semi-structured interviews of waqf academicians from the Islamic economics and Islamic finance fields, waqf government officials and private sector institutions that are involved in waqf management. The secondary data come from the Malaysian Federal Constitution, law enactments, books, e-books, bulletins, journals, conference proceedings, government reports and websites.

Findings

By synthesizing the data, it is found that return from cash waqf investment in unit trust can be used to finance 11 items of federal government expenditures. The overall process can be managed by Yayasan Waqaf Malaysia through a collaboration with an Islamic unit trust firm.

Practical implications

This research shows how waqf can practically assist the Malaysian federal government in financing public goods and mixed public goods. It indirectly shows an alternative source of financing for these goods. Other economies can also learn and adapt from the model developed in this paper.

Originality/value

This paper attempts to revive the function of waqf as a provider of public goods and mixed public goods from Islamic history. Inadvertently, this paper also introduces waqf as a possible fiscal tool.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 11 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

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