Antonios Persakis and Ra’fat Jallad
This study aims to address a research gap by examining the relationship between CEO power, board strength and earnings quality in Gulf Cooperation Council (GCC) countries, a…
Abstract
Purpose
This study aims to address a research gap by examining the relationship between CEO power, board strength and earnings quality in Gulf Cooperation Council (GCC) countries, a region with distinctive economic and governance characteristics. It explores how governance mechanisms impact financial reporting in a context marked by significant corruption challenges and regulatory dynamics. The paper underscores the relevance of the GCC setting because of its unique blend of rapid economic reform, policy shifts toward diversification and evolving governance frameworks influenced by Islamic principles.
Design/methodology/approach
This study uses 5,030 firm-year observations from GCC countries over the period 2003–2022. To test the study’s hypotheses, the authors apply the System Generalized Method of Moments.
Findings
The study reveals a significant negative correlation between perceived corruption and earnings quality, with higher corruption leading to lower earnings quality. It finds that CEO power further diminishes earnings quality and intensifies corruption’s negative effects on financial reporting while strong board governance positively affects earnings quality and reduces the adverse impact of corruption.
Originality/value
By focusing on the GCC – a region undergoing significant regulatory reforms and policy changes – this study enriches the discourse on earnings quality within emerging markets. It provides novel insights into how corruption, CEO power and board strength interact to influence financial reporting quality, offering actionable implications for policymakers and stakeholders navigating these unique economic and governance landscapes.
Details
Keywords
Yunice Karina Tumewang, Indri Supriani, Herlina Rahmawati Dewi and Md. Kausar Alam
This study aims to identify the significant scientific actors, reveal the intellectual structure and explore essential features for future research direction in Sharia governance…
Abstract
Purpose
This study aims to identify the significant scientific actors, reveal the intellectual structure and explore essential features for future research direction in Sharia governance studies.
Design/methodology/approach
The study applies a hybrid review combining bibliometric analysis and content analysis. It uses Rstudio (biblioshiny), VOSviewer and Microsoft Excel to analyze 457 articles published in 206 journals indexed by Scopus and/or Web of Science during the period of 1985 until the end of 2022.
Findings
The paper discovered four distinct streams of Sharia governance studies: structure of Sharia governance, Sharia governance and risk management, Sharia governance and sustainability and the effect of Sharia governance toward firm’s financial performance. Furthermore, it derives and summarizes 26 main research questions for future studies.
Research limitations/implications
In terms of theoretical implications, the finding contributes to the general literature on Sharia governance by conducting bibliometric analysis and content analysis. In terms of practical implications, this study suggests that Sharia governance should be strengthened by the management of Islamic banks and other Islamic-based businesses.
Originality/value
To the best of the authors’ knowledge, this study is among the early studies using a hybrid review on the topic of Sharia governance, allowing future researchers in this field to capture the trends and progress of current literature as well as the research gaps to be filled in by future researchers.
Details
Keywords
Mehreen Malik, Muhammad Mustafa Raziq, Naukhez Sarwar and Madiha Gohar
We explore the skills required for digital leadership for reshaping existing business models toward digital models. Digital leadership is pivotal in gaining a competitive…
Abstract
Purpose
We explore the skills required for digital leadership for reshaping existing business models toward digital models. Digital leadership is pivotal in gaining a competitive advantage and achieving successful digital transformation. However, little is known with regard to the underlying mechanisms related to digital leadership and transformation.
Design/methodology/approach
Data are collected through semi-structured interviews involving 20 participants from five Pakistani textile companies. Thematic analysis was employed as a data analysis tool.
Findings
Findings show that certain skills such as technological know-how, innovativeness, adaptability, ability to lead and steer, honesty, integrity, transformative vision, communication and collaboration are conducive to successful digital transformation in textile manufacturing firms. Similarly, digital leaders can significantly enhance business model innovation, create value for the firm, help develop new products (value proposition) and create Ecosystem partnerships (value network).
Originality/value
This article bridges gaps between existing literature on digital transformation and leadership. Digital leadership skills for digital transformation and the role of digital leaders in business model innovation have not been explored before. The conceptual framework is put forth, propositions are proposed and the findings offer some future research directions.
Details
Keywords
Khalid Almarri and Halim Boussabaine
Scaling up smart city infrastructure projects will require a large financial investment. Using public–private partnerships is one of the most effective ways to address budget…
Abstract
Purpose
Scaling up smart city infrastructure projects will require a large financial investment. Using public–private partnerships is one of the most effective ways to address budget constraints. Numerous factors have varying degrees of influence on the performance of Public private partnerships (PPP) projects; certain PPP factors are more crucial to the success of a smart city infrastructure project than others, and their influence can be greatly increased when they are fulfilled collectively. This study aims to find out what factors are unique to smart city PPP initiatives, as well as how these factors work together, so that successful smart city infrastructure PPP projects can be scaled up.
Design/methodology/approach
The methodology included three sequential stages: identifying the critical success factors (CSF) of PPP for smart cities based on an extensive literature review, collecting data from a sample of 90 PPP practitioners using a Likert scale questionnaire and estimating interrelationships among the CSF and their emergent clusters using structural equation modelling.
Findings
The best fit model developed in this study demonstrated the significance of each factor and their interrelationships within their categories in enhancing the performance of PPPs in smart city infrastructure projects. Five categories of critical success factors for PPPs in smart city infrastructure projects have been established: partnership and collaboration; financial sustainability; contractual duties and outsourcing; smart integration; and contract governance.
Practical implications
The proposed model represented the causal interrelationships among relevant critical success factors derived from literature, which may help in directing the organization’s attention and resources to more critical areas, leading to the effective fulfilment of the smart city infrastructure project’s objectives. In addition to the theoretical and methodological contributions, this study produced a usable and readily adaptable list and clusters of critical success factors for research in the area of the implementation of PPP in smart city infrastructure projects.
Originality/value
To the best of the authors’ knowledge, this is the first study to identify PPP critical success factors and their themed clusters for smart city infrastructure projects.
Details
Keywords
Aishah Mohd Nor, Nur Ezan Rahmat and Dhiyauddin Athir Nadzari
Refugees commonly face inequitable access to education in their host countries. The purpose of this study is to examine the related laws and policies on the right of education for…
Abstract
Purpose
Refugees commonly face inequitable access to education in their host countries. The purpose of this study is to examine the related laws and policies on the right of education for refugees from the international perspective; to explore the issues from the Islamic perspective; and to analyse Malaysia’s response to the international conventions, specifically in its implementation of educational access and services.
Design/methodology/approach
This qualitative study uses an exploratory approach, reviewing materials such as books, journals, reports and newspaper articles to identify international conventions and Islamic perspectives on the rights to education for refugees. An analysis of Malaysia’s response to the rights to education for refugees was conducted to highlight the implementation of educational access and services for refugees in Malaysia.
Findings
This study reveals the existing rights and access to education for refugees from the international and Islamic perspectives. However, in Malaysia, there is a lack of a domestic legal framework governing refugees which limits access to basic human rights including education.
Research limitations/implications
This study focuses on the rights and access to education.
Practical implications
The lack of adequate and quality access to education for refugees in host countries will likely increase illiteracy levels and subsequently trigger societal and financial strife in the long run. This research emphasizes the importance of developing an adequate framework and strategic plan of action for better access and services for refugee education in Malaysia.
Social implications
A lack of research and engagement on the rights and access to education services may come at the expense of refugees. An adequate framework and strategic plan of action incorporating access to education services for refugees are necessary to support refugees in enhancing their quality of life and creating a safer environment reducing the possibility of exploitation, abuse or harm. This study may generate interest and create awareness of refugee education in Malaysia, especially among advocates and policymakers interested in such groups.
Originality/value
This study contributes to the discussion on the right and access to education for refugees from the international and Islamic perspectives, while also examining Malaysia’s response to its implementation. Refugees displaced to Malaysia have become a matter of concern that should be addressed by academic researchers, activists and official authorities. The findings demonstrate the urgency of developing an adequate framework and strategic plan of action to minimize disparities in education access among refugees. Further research is still needed, as very limited research has been conducted on this topic, particularly in developing countries like Malaysia.
Details
Keywords
Lukman Raimi, Ibrahim Adeniyi Abdur-Rauf and Basirat Olaide Raimi
Ethical entrepreneurship and financing models based on Islamic principles are insufficiently researched and discussed in the emerging plural economic landscape. So far, Islamic…
Abstract
Purpose
Ethical entrepreneurship and financing models based on Islamic principles are insufficiently researched and discussed in the emerging plural economic landscape. So far, Islamic theorists have made commendable efforts in this direction. To fill the knowledge gaps, this study aims to explore more rigorously the interdependence of halal entrepreneurship and Islamic finance in creating a strong halal ecosystem.
Design/methodology/approach
Using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology, a systematic literature review (SLR) of 33 articles from 2001 to 2024 was conducted to answer three research questions. Publications were obtained using purposive sampling from the Scopus database. They were selected based on the ranking of high-quality journals, global coverage relevance to research and base years of publications.
Findings
Three key findings emerged from the SLR using the PRISMA protocol. First, halal entrepreneurship and Islamic finance complement each other by providing Shari’ah-compliant financial instruments, fostering ethical practices, enhancing market reach and ensuring business operations adhere to Islamic principles, thereby creating a cohesive halal ecosystem. Second, the strategic integration of halal entrepreneurship and Islamic finance – through innovation, sustainability practices, Shari’ah-compliant products, effective marketing and regulatory support – promotes economic growth, social welfare and sustainable development within the halal ecosystem. Third, Maqasid-ul Shari’ah principles guide halal entrepreneurship and Islamic finance by ensuring ethical standards, promoting social justice, emphasizing sustainability and ensuring that business and financial practices benefit society and adhere to Islamic ethical standards. These findings aid in developing a theoretically grounded conceptual framework for future empirical investigation.
Practical implications
Practically, policymakers, Islamic financial institutions and halal entrepreneurs can leverage this integrated approach to drive economic growth, social welfare and sustainable development, aligning operations with Maqasid-ul Shari’ah to ensure ethical standards and societal benefits. In addition, the findings aid in developing a theoretically grounded conceptual framework for future empirical investigation, both theoretically and methodologically.
Originality/value
Given the paucity of studies in this multidisciplinary area, this paper offers new insights into the interdependence of halal entrepreneurship and Islamic finance, grounded in the finance–growth nexus theory and Maqasid-ul Shari’ah principles. Unlike other exploratory studies, this research presents a theoretically grounded conceptual framework, paving the way for future empirical investigations.
Details
Keywords
This study aims to analyze notable distribution dispute cases from Islamic law history. The authors will assess these alongside resolutions proposed by historical authorities…
Abstract
Purpose
This study aims to analyze notable distribution dispute cases from Islamic law history. The authors will assess these alongside resolutions proposed by historical authorities, some of which evolved into established Islamic case law. In addition, the authors intend to apply classic fair division rules to these cases, providing alternative solutions. Using a game-theoretical approach, the authors plan to compare Islamic solutions with traditional division rules through axiomatic analysis. The goal of this study is to systematically explore the unique principles underpinning Islamic distributions.
Design/methodology/approach
In this study, the authors collate Islamic inheritance law disputes involving conflicting claims, unresolvable by primary Islamic law sources, from historical and modern texts. The authors formally model these as claims problems, surplus-sharing problems and adapted claims problems. Concurrently, the authors gather the proposed solutions and historical backgrounds offered by the era’s authorities and jurists. These solutions are axiomatically generalized into rules, while the axioms characterizing distribution rules are checked if they are aligned with Islamic norms and values. This approach facilitates a comparison between Islamic distributions and classic division rules.
Findings
The 'Awl and Radd doctrines, used in Islamic inheritance law, are axiomatically equivalent to the Proportional Rule, a prevalent non-Jewish division rule. These doctrines present solutions impervious to manipulation by legal heirs through rights transfer, unlike other possible distributions. Ibn 'Abbas' solution for Awliyya cases uses sequential priorities and diverges uniquely from classic fair division rules in the literature. In addition, it is established that Abu Yusuf's (b. 729) distribution for a legal dispute is axiomatically identical to Abraham ibn Ezra's (b. 1089) division rule.
Research limitations/implications
There is a noticeable dearth of comprehensive studies investigating contentious disputes concerning resource claims within Islamic law. Many of these studies are lacking in-depth analyses of diverse cases, casting doubts on their reliability. As a result, a robust focus is needed on case collection prior to any analytical process. Future research should concentrate on collating instances of fair division problems throughout Islamic history, as well as separately collecting methods of Islamic sharing. This procedure may lead to the characterization of various Islamic regulations, thereby emphasizing distinct Islamic principles. In forthcoming studies, conducting an exhaustive axiomatic evaluation of the cases and proposed resolutions is imperative.
Practical implications
This research illuminates existing knowledge gaps, setting a course for novel research trajectories. It underlines the fair division literature’s oversight of disputes within Islamic law, despite the plentiful existence of contentious cases. The research underscores the relevance of cooperative game theory as a tool for dissecting Islamic legal disputes. By accounting for unique Islamic norms and principles, this study lays a foundation for a nuanced comprehension of the dynamics and outcomes of legal disputes. By integrating an interdisciplinary approach, this research strives to bridge the gap between game theory and Islamic law.
Social implications
Beyond addressing a significant research lacuna, this study carries extensive societal implications. By shedding light on enduring debates within Islamic law, it encourages a rejuvenated understanding of the evolution and interpretation of legal disputes. The axiomatic disparities between rulers’ and jurists’ methods provide invaluable insights within the Islamic context, bolstering the understanding of sociocultural dynamics that influence legal decision-making. This research has the potential to shape legal discourse, guide policymaking and spur scholarly, juristic and societal dialogue. Consequently, it may foster a more comprehensive and enlightened approach toward the resolution of legal disputes in Islamic law.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine Islamic law’s historical legal disputes from a game-theoretical standpoint. Existing studies rarely collect distribution disputes systematically, and none scrutinize the axiomatic rationales underlying authorities’ and jurists’ distributions, opting instead to focus on historical backgrounds. While the fair division literature extensively examines disputes, it often overlooks those originating from Islamic law, which presents a rich source of disputes that can be modeled as fair division problems. This research makes a distinct contribution by incorporating disputes from Islamic law into the existing body of cooperative game theory literature.
Details
Keywords
Anna K. Zarkada, Muhammad Kashif and Zainab
This paper aims to examine the structure and content of religious tourism destination image through the reviews of visitors to Makkah and Medina, two of the world’s most popular…
Abstract
Purpose
This paper aims to examine the structure and content of religious tourism destination image through the reviews of visitors to Makkah and Medina, two of the world’s most popular Muslim pilgrimage sites.
Design/methodology/approach
This is an exploratory netnographic study of the 913 reviews posted on TripAdvisor from 2018 to 2022. The structure (dimensions and attributes) and content (variables) comprising the construct of religious tourism destination image emerge through manual thematic analysis and confirmed through content analysis.
Findings
Religious tourism destination image is a three-dimensional – cognitive, affective and conative – construct comprising both religion-specific, generally sacred and secular variables in a single, indivisible crystallization of experience.
Practical implications
Destination marketing organizations and marketers of tourism enterprises should regularly analyze visitor reviews posted on social media and carefully manage all variables of the religious tourism destination image, specifically stressing the religious aspect.
Originality/value
To the best of the authors’ knowledge, this is the first systematic analysis of the structure and content of religious tourism destination image based on detailed consumer evaluations and unprompted storytelling.
Details
Keywords
- Religious tourism destination image (RTDI)
- User-generated content (UGC)
- Netnography
- Religious tourism (RT)
- Muslim tourists
- TripAdvisor reviews
- Cognitive
- Affective and conative tourism experience attributes
- Tourism marketing
- Tourism experience
- Qualitative study
- Destination marketing organizations (DMOs)
- The Muslim consumer
Muhammad Farooq, Qadri Al-Jabri, Muhammad Tahir Khan, Asad Afzal Humayon and Saif Ullah
This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of…
Abstract
Purpose
This study aims to investigate the relationship between corporate governance characteristics and the financial performance of both Islamic and conventional banks in the context of an emerging market, i.e. Malaysia.
Design/methodology/approach
This study includes 300 bank-year observations from Islamic and conventional banks over the period 2010–2021. The dynamic panel model (generalized method of moments [GMM]) was considered the primary estimation model that solves simultaneity, endogeneity and omitted variable problems as most governance variables are endogenous by nature. Hence, static models are considered biased after conducting the DWH test of endogeneity, and considering dynamic panel GMM is valid proven by Sargan and Hensen and first-order (ARI) and second-order (ARII) tests.
Findings
Based on the regression results, the authors discovered that board size, female participation in the board and director remuneration have a significant positive impact on bank performance, whereas board meetings have a significant negative impact. Furthermore, the board governance structure of commercial banks is found to be more passive than that of Islamic banks.
Practical implications
The study’s findings added a new dimension to governance research, which could be a valuable source of knowledge for policymakers, investors and regulators looking to improve existing governance mechanisms for better performance of conventional and Islamic banks.
Originality/value
The goal of this study is to add to the existing literature by focusing on the impact of female board participation and other board governance mechanisms in both conventional and Islamic banks on bank performance.
Details
Keywords
Anjali Bansal, Damini Saini, Muhammad Zafar Yaqub and Pragya Gupta
This study investigated leaders’ decision-making during crises. Using grounded theory research, we explored whether leaders’ use of either individualistic or collectivistic…
Abstract
Purpose
This study investigated leaders’ decision-making during crises. Using grounded theory research, we explored whether leaders’ use of either individualistic or collectivistic decision-making styles is based on the context of a crisis. In addition, the authors looked into the components of building leaders’ efficacy during a crisis event and gauged their attitudinal and behavioral reactions to the crisis.
Design/methodology/approach
The authors conducted interviews with 30 C-suite executives during the first wave of the COVID-19 pandemic to determine their responses to crises. The authors then used open, axial, and selective coding to examine their data, which was then extracted for representative themes and overarching dimensions. In total, The authors received 12 major themes largely summarizing into 6 overarching dimensions – context of decision-making, leaders’ efficacy, individualistic approach to decision-making, collectivistic approach to decision-making, process of decision-making, and outcomes.
Findings
The research presents a decision-making framework clearly bifurcating situations with the need for individualistic and collectivistic decision-making. While, a high level of urgency and scarce resources encouraged leaders to adopt an individualistic approach in which most of the decisions were intuition-based and only high-level stakeholders were involved, the less time urgent and uncertain situation allowed leaders to put significant effort into building their own knowledge systems and involving others. In addition, leaders’ efficacy is understood in terms of their attitudes, readiness and reactions, which further elaborated upon their knowledge systems to allow them to excel in decision-making irrespective of the approaches they chose.
Originality/value
The research has implications for leaders in the decision-making roles to be effective during both individualistic and collectivistic decision-making.