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Article
Publication date: 27 September 2023

Early Ridho Kismawadi

This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.

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Abstract

Purpose

This study aims to examine the impact of agency cost, Islamic board characteristics and corporate governance on the performance of Islamic institutions.

Design/methodology/approach

Based on the selected criteria, 92 Islamic banks (IBs) from 20 countries were selected for further research. The authors used generalized method moments (GMM) estimation method. The agency cost and Shariah board characteristics are the explanatory variables. The author uses the age of the bank and the size of the bank for variable control.

Findings

Empirical results indicate that first, agency costs represented by cast/total assets negatively affect IBs’ return on equity and net income. As agency costs rise, IBs’ financial performance declines. Second, Shariah supervisory board (SSB) size and board independence affect IB performance. The study found that SSB size positively affects IB performance.

Research limitations/implications

This research contributes to the literature on IBs in different countries, which policymakers and practitioners can use to improve agency cost functions and Shariah board characteristics. Second, this analysis shows that IBs require specific attention for agency charges, given their operations and business structures. This study contributes to agency theory, which requires Islamic banking information and practices. Finally, the author has aided regulators and IBs by identifying the sources of agency cost practices that can be resolved. The other bank governance contribution is twofold. First, the author studied dual board governance in IBs (SSB and ordinary boards of directors). Second, the author examines how SSB and traditional board governance affect IB performance. This research focuses on banks listed on stock exchanges in the 20 countries analysed.

Practical implications

The research has policy and practical implications for central banks and IBs. By outlining appropriate regulatory guidelines and reporting systems, regulatory authorities can ensure Sharia compliance and protect the independence of IB Shariah department officers. Regulators and relevant stakeholders must ensure Sharia compliance, audits, inspections, reporting and accurate disclosure for IBs.

Originality/value

This paper offers original contributions to professionals in the field of IBs and stakeholders investigating the relationship between agency costs, governance of IBs, characteristics of Islamic supervisory boards and the performance of IBs.

Details

Journal of Islamic Accounting and Business Research, vol. 16 no. 3
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 8 May 2024

Hossa F. Al-Shareef, Ahmed M. Yousif, Rafaat Eleisawy, Ammar M. Mahmoud and Hamada Abdelwahab

This paper aims to prepare alkyd protective paint by using modified alkyd with 3,6-dichloro benzo[b]thiophene-2-carbonyl glutamic acid (DCBTGA) as a source of dicarboxylic acid…

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Abstract

Purpose

This paper aims to prepare alkyd protective paint by using modified alkyd with 3,6-dichloro benzo[b]thiophene-2-carbonyl glutamic acid (DCBTGA) as a source of dicarboxylic acid and evaluating their anticorrosive properties compared with those of unmodified alkyd coatings for steel protection.

Design/methodology/approach

Short, medium and long oil alkyds, which represented as (0, 10, 20 and 30% excess-OH) according to the resin constants (Patton, 1962), were prepared through a condensation polymerization reaction via a solvent process in a one-step reaction. The modification of alkyd was carried out by using DCBTGA as a source of dicarboxylic acid. The prepared modified alkyd was confirmed by IR and NMR spectral analysis. The physicochemical, mechanical and anticorrosion performance properties of the considered modified coating formulations against unmodified blank coating were studied to confirm their application efficiency.

Findings

The best results in terms of physicochemical, mechanical and anticorrosion performance properties were found according to the following of this order activity: 30 replacements of the modifier (DCBTGA) for each hydroxyl continent were 30% Ex-OH > 20% Ex-OH > 10% Ex-OH > 0% Ex-OH, compared with that formulation containing unmodified alkyd, especially with increasing the modifier percent.

Originality/value

The prepared DCBTGA-modified resins can be used for different applications based on the type of alkyd and application.

Details

Pigment & Resin Technology, vol. 54 no. 3
Type: Research Article
ISSN: 0369-9420

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Article
Publication date: 23 December 2024

Ahmed M. Galal, Muhammad Zeemam, Muhammad Imran, Muhammad Abdul Basit, Madeeha Tahir, Saima Akram and Jihad Younis

Nanofluids are used in technology, engineering processes and thermal exchanges. In thermal transfer processing, these are used for the smooth transportation of heat and mass…

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Abstract

Purpose

Nanofluids are used in technology, engineering processes and thermal exchanges. In thermal transfer processing, these are used for the smooth transportation of heat and mass through various mechanisms. In the current investigation, we have examined multiple effects like activation energy thermal radiation, magnetic field, external heat source and especially slippery effects on a bioconvective Casson nanofluid flow through a stretching cylinder.

Design/methodology/approach

Several studies used non-Newtonian fluid models to study blood flow in the cardiovascular system. In our research, Lewis numbers for bioconvection and the influence of important parameters, such as Brownian diffusion and thermophoresis effects, are also considered. This system is developed as a partial differential equation for the mathematical treatment. Well-defined similarity transformations convert partial differential equation systems into ordinary differential equations. The resultant system is then numerically solved using the bvp4c built-in function of MATLAB.

Findings

After utilizing the numerical approach to the system of ordinary differential equations (ODEs), the results are generated in the form of graphs and tables. These generated results show a suitable accuracy rate compared to the previous results. The consequence of various parameters under the assumed boundary conditions on the temperature, motile microorganisms, concentration and velocity profiles are discussed in detail. The velocity profile decreases as the Magnetic and Reynolds number increases. The temperature profile exhibits increasing behavior for the Brownian motion and thermal radiation count augmentation. The concentration profile decreased on greater inputs of the Schmidt number and magnetic effect. The density of motile microorganisms decreases for the increased value of the bio-convective Lewis number.

Originality/value

The numerical analysis of the flow problem is addressed using graphical results and tabular data; our reported results are refined and novel based on available literature. This method is useful for addressing such fluidic flow efficiently.

Details

Multidiscipline Modeling in Materials and Structures, vol. 21 no. 2
Type: Research Article
ISSN: 1573-6105

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Article
Publication date: 24 February 2025

Anett Erdmann and Luis Toro-Dupouy

In higher education, the appreciation and implementation of artificial intelligence (AI) has led to debate and polarization. This study examines how the institutional environment…

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Abstract

Purpose

In higher education, the appreciation and implementation of artificial intelligence (AI) has led to debate and polarization. This study examines how the institutional environment at universities impacts the value perception and intention to adopt AI in higher education. It seeks to optimize the adoption pathway by identifying essential “must-have factors” and “value drivers.”

Design/methodology/approach

Employing the technology-organization-environment (TOE) framework alongside the technology acceptance model (TAM) framework and perceived value concepts, this research utilizes a partial least squares structural equation modeling (PLS-SEM) approach complemented by necessary condition analysis (NCA), a novel approach in this context, which allows us to distinguish between critical antecedents and value drivers in the evaluation and adoption of AI technology.

Findings

Results indicate that organizational complexity, readiness, competency, compatibility and competitive advantage significantly affect the perceived value of AI, mediated by stakeholders’ perceptions of its ease of use and usefulness. These factors enhance the intention to adopt AI in higher education. Perceived usefulness has the highest effect size and the importance of ease of use differs between Europe and South America. External factors like partner support and competitive advantage are necessary considerations to be met, while competitive advantage and some internal factors are sufficient conditions for AI adoption.

Originality/value

The study underscores the importance of certain institutional factors, setting priorities for management actions in AI adoption. It differentiates between the general appreciation of AI and the intention of practical implementation, highlighting the role of partner support as a necessary condition, although a non-value-driving factor.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

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Article
Publication date: 30 October 2023

Le Thanh Ha

This study aims to examine connections between five variables, including innovation in environment-related technology (EI), trade openness (TRADE), CO2 emissions (CO2) and foreign…

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Abstract

Purpose

This study aims to examine connections between five variables, including innovation in environment-related technology (EI), trade openness (TRADE), CO2 emissions (CO2) and foreign direct investment (FDI) from 1994 to 2019.

Design/methodology/approach

This study used an extended joint connectedness technique and the time-varying parameter vector autoregression (TVP-VAR) method. The analysis focuses on the variables of innovation in environment-related technology (EI), trade openness (TRADE), CO2 emissions (CO2) and foreign direct investment (FDI) using data from 1994 to 2019.

Findings

The results demonstrate that innovation in environment-related technology and an openness to the global network captured by FDI are identified as crucial net transmitters of shocks. In addition, an openness to the global trade network captured by TRADE turns from a transmitter to a receiver of shocks and vice versa. Moreover, it can be seen that the impact of EI was significant in the first five years of the observed period, and it transmitted the largest shock in 1997.

Practical implications

With regard to policy implications, the findings offer valuable insights for investors and policymakers. As the tradeoff between business efficiency and environmental sustainability diminishes, it is essential for Vietnam’s economy and enterprises to embrace green and sustainable growth in line with global trends. In a world characterized by uncertainties and risks, enterprises need to develop strategies to manage risks and shocks arising from geopolitical tensions, input material supply, financial–monetary instability and natural disasters.

Originality/value

This study contributes to the existing literature in two significant ways. First, as previously emphasized, this paper represents the first attempt to investigate the relationship between economic globalization and environmental innovation. Second, this study proposes a novel methodology that is better suited for analyzing volatility interlinkages across different market types.

Details

International Journal of Innovation Science, vol. 17 no. 1
Type: Research Article
ISSN: 1757-2223

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Article
Publication date: 4 February 2025

Hanan Amin Mohamed and Toshitsugu Otake

This study aims to analyze how the COVID-19 pandemic has altered the role of the Islamic finance (IF) sector in the economy and how technological developments in IF can enhance…

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Abstract

Purpose

This study aims to analyze how the COVID-19 pandemic has altered the role of the Islamic finance (IF) sector in the economy and how technological developments in IF can enhance its functioning and contribution to sustainable development in the post-pandemic era. It examines the impact of IF on traditional financial inclusion pre- and post-COVID-19. Furthermore, in response to the acceleration of financial technologies following the pandemic, the study explores the impact of Islamic FinTech on Digital Financial Inclusion (DFI) and, consequently, on sustainable development (SD).

Design/methodology/approach

A cross-sectional multiple regression analysis is conducted to examine the impact of traditional IF on financial inclusion pre- and post-COVID-19 in the years 2017 and 2021 for 64 countries. Moreover, a structural equation model (SEM) is used by using cross-section data for 64 countries in the year 2021 to capture the impact of Islamic FinTech on SD through DFI as an intermediator.

Findings

IF has a positive and significant impact on traditional financial inclusion pre-COVID-19. On the contrary, it has insignificant impact post to the pandemic due to the slow-down of the sector development. Alternatively, Islamic FinTech has a positive and significant impact on DFI and, hence, on SD. These results indicate that the development of the IF sector is negatively affected post to the pandemic. However, it still has an opportunity to shift to a more resilient sector by introducing financial innovations that allow it to cope with the global current financial technological changes.

Research limitations/implications

This research has some limitations that could be addressed in future studies. First, the empirical analysis is restricted to cross-sectional analyses in years 2017 and 2021 to compare the role of IF pre- and post the pandemic. These years are chosen based on data from the Global Financial Development Database, which is collected by the World Bank and released every three years, with the latest update in 2021. Second, this study uses one measure for each of traditional and DFI. This can be further investigated by using multiple indicators or constructing an index for each variable.

Practical implications

Islamic FinTech presents several practical implications, particularly in its ability to provide access to financial services while adhering to Shariah principles. First, it fosters a more inclusive financial ecosystem by offering cost-effective, ethical and transparent financial products tailored to diverse populations that can significantly contribute to financial inclusion, especially in Muslim-majority countries. Second, it promotes gender equality by improving access to financial resources and services, which enhances financial inclusion and subsequently drives the expansion and development of the IF sector and hence supports SDGs. Third, Islamic FinTech supports the growth of SMEs by providing Shariah-compliant financing alternatives.

Originality/value

This paper’s originality lies in its comparison of the role that the development of the IF sector plays in financial inclusion pre- and post-COVID-19, using empirical regression analysis, which contrasts with other studies that use theoretical analysis. Furthermore, the study bridges a gap in the IF literature by extending the analysis to integrate digital technologies into the IF sector, using the Global Islamic FinTech index (GIFT) to capture various aspects of Islamic FinTech development by conducting an SEM to examine the impact of Islamic FinTech on SD, with DFI serving as an intermediator.

Details

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

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Article
Publication date: 26 July 2024

Anna Reichardt, Matthias Murawski and Markus Bick

As one of the most energy-intensive sectors, the manufacturing industry is strongly affected by current economic, ecological and political issues and is increasingly looking to…

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Abstract

Purpose

As one of the most energy-intensive sectors, the manufacturing industry is strongly affected by current economic, ecological and political issues and is increasingly looking to reduce its energy consumption through effective management. One important component of energy management is monitoring, which can be improved by using the Internet of Things (IoT). This study aims to identify the factors behind the adoption of IoT energy monitoring systems in manufacturing industries and IoT’s impact on consumption in this context. Moreover, this study explores what constitutes successful implementation and develops recommendations on how companies can best use the generated energy-saving potential.

Design/methodology/approach

For this purpose, an exploratory, inductive research approach is taken in which five semi-structured interviews with IoT energy-monitoring platform providers located in Germany are conducted and additional documents about these platforms are analysed.

Findings

Based on these interviews and documents, this study defines the relevant factors involved in the increased adoption of IoT energy monitoring systems as desired cost reduction, regulatory requirements and customer expectations. Once implemented, a company’s energy efficiency potential strongly depends on its individual situation; however, the transparency characteristic of IoT supports managers in deriving effective energy-saving measures. Additionally, the used efficiency potential is influenced by the level of data collection and organisational capabilities.

Originality/value

To the best of the authors’ knowledge, as the first study, this research combines findings from the energy management and IoT research streams and places them into an organisational context. The application of the fit-viability model as an overarching framework enhances the theoretical contributions of this study. Moreover, focusing on Germany and its substantial industrial sector enables the gathering of important insights and the analysis of the specific use case of industrial IoT, which yields new findings for practitioners as well.

Details

International Journal of Energy Sector Management, vol. 19 no. 2
Type: Research Article
ISSN: 1750-6220

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Article
Publication date: 15 August 2024

Ahmad Syarief Iskandar, Muhammad Nur Alam Muhajir, Erwin Erwin and Fasiha Fasiha

This study aims to test the empirical Islamic bank customer loyalty model with the perspective of mosques as customers.

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Abstract

Purpose

This study aims to test the empirical Islamic bank customer loyalty model with the perspective of mosques as customers.

Design/methodology/approach

The type of research used is quantitative to collect data from mosque customers; 93 questionnaires were analyzed using partial least square-structural equation modeling.

Findings

This research found a significant relationship between service quality and perceived value, service quality and brand image, perceived value and customer satisfaction, brand image and customer loyalty and customer satisfaction with brand image.

Research limitations/implications

First, this study only collects data from certain organizations or communities so that further research can develop the model by adding several other communities or organizations. Second, this research does not include several other important variables that influence customer loyalty, such as product innovation and company capabilities.

Originality/value

Islamic bank customer loyalty models have been widely explored from the perspective of individual customers only. This research offers new attributes that influence customer loyalty models in the context of organizations or communities, namely, mosques.

Details

Journal of Islamic Marketing, vol. 16 no. 2
Type: Research Article
ISSN: 1759-0833

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Book part
Publication date: 6 March 2025

S. M. Ashraful Alam, Rozina Akter, Sadia Noor Khan and Shakil Ahmad

Introduction: The bank plays a significant role in financial intermediation and serves as market-makers and agents. The emergence of new financial technology, commonly known as…

Abstract

Introduction: The bank plays a significant role in financial intermediation and serves as market-makers and agents. The emergence of new financial technology, commonly known as “FinTech”, is anticipated to revolutionize these industries. FinTech encompasses technological advancements in the financial sector to enhance consumer satisfaction, streamline operational procedures, create novel products, and foster greater competition.

Purpose: The primary aim is to discuss the banking industry’s current and potential future state with the emergence of financial technology. The specific objective is to explore the emergence of new-age technologies in the banking industry and the challenges faced in their implementation.

Methodology: A qualitative method is employed to analyze the FinTech landscape. Researchers conducted an extensive literature review and analyzed recent news articles to explore the banking industry’s digital transformation through FinTech. The literature review encompassed academic journals, industry reports, and relevant books to provide a theoretical framework and historical context to capture current developments, real-world applications, and emerging trends.

Findings: The evolution and impact of financial technology on the global economic landscape have been explored. It highlights how FinTech innovations, such as blockchain, artificial intelligence, and mobile payments, have revolutionized traditional banking, enhancing efficiency, accessibility, and security. It discusses regulatory challenges and the need for a balanced approach to foster innovation while ensuring consumer protection. The findings underscore FinTech’s potential to drive economic growth and the importance of continuous adaptation to evolving technological trends.

Details

Financial Landscape Transformation: Technological Disruptions
Type: Book
ISBN: 978-1-83753-751-8

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Article
Publication date: 31 January 2025

Esrafil Ali and Deepika R. Gupta

This paper aims to model the impact of corporate social responsibility practices (CSRP) on job seekers’ organisational attractiveness (JSA) with particular reference to two Indian…

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Abstract

Purpose

This paper aims to model the impact of corporate social responsibility practices (CSRP) on job seekers’ organisational attractiveness (JSA) with particular reference to two Indian states, i.e. Andhra Pradesh (AP) and Odisha (OD). Further, the paper examines whether there are any significant variations in the perception of job seekers in these two states.

Design/methodology/approach

The sample for this exploratory research consisted of 943 business management students of AP and OD. The model was developed using the hierarchical component model method, and the associations were examined using partial least squares structural equation modeling (PLS-SEM). Furthermore, PLS-multi group analysis (PLS-MGA) was used to analyse the specific differences between two sample groups.

Findings

The study found that the CSR constructs, i.e. economical, legal, ethical and philanthropic, have a positive significant effect on CSRP for both groups of job seekers. The study also argued that the company selection by job seekers based on high or low CSR practices has no moderating effect on both sample groups for economical, legal, ethical and philanthropic dimensions. Further, the result revealed that the age and gender variables could not make any significant differences in the perceptions of job seekers.

Practical implications

The study provides research-based insights to relevant stakeholders (institutions, corporate, government and policymakers) that would be used in formulating strategies to strengthen the relationship between CSRP and JSA.

Originality/value

The study investigates CSR’s effect on organisational attractiveness from the theoretical lens of Carroll’s pyramid for two groups of job seekers. Limited studies have examined the complexity of this association with such a research context. The result guides educators, corporate, governments, practitioners and job seekers working on CSRP and JSA.

Details

International Journal of Organizational Analysis, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1934-8835

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