Ahmad Salman, Mastura Jaafar, Diana Mohamad, Andrew Ebekozien and Tareq Rasul
Over recent years, the multi-stakeholder role in sustainable ecotourism within Asia has emerged as a crucial narrative for sustainable ecotourism management across countries on…
Abstract
Purpose
Over recent years, the multi-stakeholder role in sustainable ecotourism within Asia has emerged as a crucial narrative for sustainable ecotourism management across countries on the continent. This trend is perhaps due to the fact that ecotourism is one of the most rapidly growing sectors within the tourism industry. However, to date, no reviews have provided a comprehensive analysis related to the role of multi-stakeholders in the achievement of ecotourism sustainability, particularly in the Asian context. This study aims to fill this knowledge gap by examining the current knowledge regarding multi-stakeholder involvement in sustainable ecotourism within Asia.
Design/methodology/approach
A systematic review procedure was followed. 320 articles were finalized, from which 34 related pieces of research were selected from the Scopus and Web of Science databases.
Findings
Three themes emerged from this paper. Recommendations were highlighted to enhance sustainable ecotourism. The study concluded that a more enabling research environment should be provided to improve discourse and encourage policy interventions.
Originality/value
No previous studies have explored the multi-stakeholder's role in achieving Asian sustainable ecotourism, indicating a critical gap to be fulfilled. This paper uniquely contributes to the field by providing a comprehensive review of the roles and challenges of multiple stakeholders in sustainable ecotourism across Asia and proposing innovative policy solutions tailored to the region's unique socio-economic and cultural context. Moreover, it puts forward potential solutions to bolster sustainable ecotourism within Asia, benefiting both stakeholders and the destination.
Details
Keywords
Imtiaz Sifat, Azhar Mohamad and Zarinah Hamid
Magnet effect entails a hypothesis in market microstructure entailing a systemic likelihood of prices being sucked toward the theoretical threshold. The purpose of this paper is…
Abstract
Purpose
Magnet effect entails a hypothesis in market microstructure entailing a systemic likelihood of prices being sucked toward the theoretical threshold. The purpose of this paper is to investigate the existence of magnet effect in Bursa Malaysia via overnight returns.
Design/methodology/approach
This study investigates the existence of magnet effect via overnight returns in Bursa Malaysia by utilizing historical daily price data from 1994 to 2017 by probabilistic regression approaches. The authors divide the study period into three distinct regimes based on regulatory limit mechanisms.
Findings
Based on demarcated regimes, the authors find evidence of magnet effect in Bursa Malaysia throughout all regimes, with a heightened magnitude detected between 2002 and 2013. Moreover, upper limit scenarios exhibit a greater propensity for magnet effect. The authors end the paper with implications of the findings for portfolio managers, intraday traders, and policymakers.
Originality/value
The research is the first of its kind in attempting to measure the magnet effect in Malaysia via overnight jumps.
Details
Keywords
Muhammad Sholihin, Nurus Shalihin and Apria Putra
The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas.
Abstract
Purpose
The article examines Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of paper money, which in the early 20th century wrote Risala Raf'u Al-Iltibas.
Design/methodology/approach
This paper uses a qualitative approach based on the critical extraction analysis that can reveal a set of concepts related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi on paper money.
Findings
Through an attentive reading of Sheikh Ahmad Khatib Al-Minangkabawi, the authors can formulate several significant results: First, Ahmad Khatib Al-Minangkabawi applies two methods in studying critically on paper money, namely, the comparative law method and qiyas. Second, Ahmad Khatib believes that paper money has similarities with dinars and dirhams, namely its nominal value function. It is just that the existence of these values is different. Briefly, there are set law consequences for those who used paper money in economic activities, i.e. payment of zakāt on paper money applies when used as business capital.
Research limitations/implications
Sheikh Ahmad Khatib Al-Minangkabawi's work related to paper money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe legal reasoning from work. As a result, articles are also thicker with fiqh analysis.
Practical implications
Sheikh Ahmad Khatib Al-Minangkabawi's view regarding paper money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed. In this regard, this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 20th century.
Social implications
Money is not a commodity. Still, it must be positioned as capital to be productive. It finally becomes why trade is compelling and becomes the most practical reason for paying out zakāt.
Originality/value
It is not easy finding out articles that attempt to reveal the concept of classical ulemas or clerics from Indonesia relating to paper money. This article manages to identify that, and at the same time, becomes a novelty.
Details
Keywords
There are many ways for young people to get involved with their communities, but Community participation is one of the most important ways. As a way of expressing their…
Abstract
There are many ways for young people to get involved with their communities, but Community participation is one of the most important ways. As a way of expressing their commitment, young people form political and social action groups, devise educational initiatives tailored to their interests, and serve as community activists. This study was carried out in Myanmar prior to the military takeover in 2021. A military coup protest was organized by CEC (Chief Executive Committees). In addition, the majority of the committee members advocate for democratic values in this era. For the purpose of this study, researchers looked into which factors had the greatest impact on the participation of youth affairs committee members in their communities. Mon State was chosen as the study site because the median age of the population there is 26.7 years old. The 2014 Census revealed a range of median ages that is lower than this one. It shows that the median age of Mon state's youth affairs committee members is lower than the state's overall median age. In addition, the state of Mon was home to three major ethnicities: the Mon, the Kayan, and the Burmese. This situation demonstrates that young people have settled in Mon state with a wide range of viewpoints and ideas. The 131 members of Mon state's youth affairs committee were selected from each of the state's three levels of youth affairs committee. The data collected was analyzed using linear regression and descriptive methods. It was discovered that the community involvement of young leaders is positively influenced by social, political & legal factors.
Details
Keywords
Rasha Ismail, Fadi Safieddine and Ashraf Jaradat
The setting up of e-university has been slow-going. Much of e-university slow progress has been attributed to poor business models, branding, disruptive technologies, lack of…
Abstract
Purpose
The setting up of e-university has been slow-going. Much of e-university slow progress has been attributed to poor business models, branding, disruptive technologies, lack of organisational structure that accommodates such challenges, and failure to integrate a blended approach. One of the stumbling blocks, among many, is the handling of evaluation process. E-university models do not provide much automation compared to the original brick-and-mortar classroom model of delivery. The underlining technologies may not have been supportive; however, the conditions are changing, and more evaluation tools are becoming available for academics. The paper aims to discuss these issues.
Design/methodology/approach
This paper identifies the extent of current online evaluation processes. In this process, the team reviews the case study of a UK E-University using Adobe Connect learning model that mirrors much of the physical processes as well as online exams and evaluation tools. Using the Riva model, the paper compares the physical with the online evaluation processes for e-universities to identify differences in these processes to evaluate the benefits of e-learning. As a result, the models can help us to identify the processes where improvements can take place for automating the process and evaluate the impact of this change.
Findings
The paper concludes that this process can be significantly shortened and provide a fairer outcome but there remain some challenges for e-university processes to overcome.
Originality/value
This paper examines the vital quality assurance processes in academia as more universities move towards process automation, blended or e-university business models. Using the case study of Arden University online distance learning, the paper demonstrates, through modelling and analysis that the process of online automation of the evaluation process is achieved with significant efficiency.
Details
Keywords
Sulistyowati, Raditya Sukmana, Ririn Tri Ratnasari, Ascarya and Tika Widiastuti
This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant;…
Abstract
Purpose
This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant; thus, the present paper aims to provide a nongovernment budget to lessen the government's burden
Design/methodology/approach
This qualitative study uses structured in-depth interviews with 12 respondents to generate valuable insights and thoughts in order to frame recommendations.
Findings
The findings highlight the key themes: human resources, finance, collaboration and coordination, legal issues, basic healthcare insufficiency, data and digitalization, accountability and sustainability and infrastructure. The following are the proposed solutions: capacity building program (CBP), hybrid waqf scheme, big data connectivity, specific legal framework, refocusing and reallocating of resources for the health sector during and after the pandemic
Research limitations/implications
This study focuses on Indonesia and Malaysia as the authors believe that these two countries have a lot of practice in the field. Further studies may focus on other countries, such as Pakistan.
Practical implications
This paper proposes potential ways to embrace government policy consideration, optimize the elaboration among productive waqf with other kinds, improve governance of and coordination among waqf institutions and increase the awareness to improve significant development.
Social implications
By considering this paper's recommendations, waqf stakeholders in the healthcare system can improve the social benefits for poor and needy patients.
Originality/value
This study presents the latest strategic analysis of waqf, which is important for the government policy in developing waqf.
This paper aims to investigate the extent to which maṣlaḥah (public interest) is taken into consideration in Islamic banking operations in Malaysia, particularly in bayʿ al-ʿīnah…
Abstract
Purpose
This paper aims to investigate the extent to which maṣlaḥah (public interest) is taken into consideration in Islamic banking operations in Malaysia, particularly in bayʿ al-ʿīnah (sale and buyback), taʿwiḍ (compensation) and ibrāʾ (rebate).
Design/methodology/approach
This study applies deductive and inductive methods to analyze the application of maṣlaḥah in Islamic financial transactions. Three issues in Malaysia are selected as a case study, allowing bayʿ al-ʿīnah, standardizing the rate of taʿwiḍ and stipulating the ibrāʾ clause in financial agreements. As this study is qualitative in nature, all data are analyzed based on the content analysis method.
Findings
Both the maṣlaḥah of Islamic banks and their customers were found to be considered by the Central Bank of Malaysia in the implementation of contracts and principles of Islamic banking. The first maṣlaḥah represents the viability of Islamic banks, while the second maṣlaḥah promotes fairness and transparency between Islamic banks and their customers.
Research limitations/implications
This study only focuses on the contracts and principles of Islamic banking operations in Malaysia with regard to three selected issues.
Practical implications
This paper clarifies the practical application of maṣlaḥah in the Islamic banking industry, particularly with regard to implementing its contracts and principles.
Originality/value
This paper analyzes the argument of maṣlaḥah on the issues of bayʿ al-ʿīnah , taʿwiḍ and ibrāʾ in Malaysia, which are considered among scholars to be debatable issues. While many discussions focus on the legal aspect of Sharīʿah on those issues, this study emphasizes how the application of maṣlaḥah aims to solve the current problems and harmonize between Sharīʿah and reality.
Details
Keywords
Muhammed Habib Dolgun, Abbas Mirakhor and Adam Ng
This paper aims to critically investigate the liquidity risk management of Islamic banks and develop an alternative regulatory framework appropriate for liquidity management of…
Abstract
Purpose
This paper aims to critically investigate the liquidity risk management of Islamic banks and develop an alternative regulatory framework appropriate for liquidity management of these banks.
Design/methodology/approach
The specific risk profile of an Islamic bank requires developing a new and more efficient regulatory framework, which relies on risk- sharing and symmetric information among parties. The paper makes a differentiation between small local banks and internationally active Islamic banks and proposes to apply liquidity requirements only for internationally active Islamic banks.
Findings
A new proposal for the liquidity coverage ratio (LCR) of Islamic banks is developed in this paper towards mitigating risks and concurrently protecting the interests of investment account holders. Minimum and maximum thresholds are proposed for each liquid asset in this new LCR framework. An alternative liquidity approach is discussed to complement the proposal and several policy options are suggested.
Originality/value
As participation banks are exposed to market liquidity and market risks, more high-quality liquid instruments within a risk-sharing regulatory framework may provide the inner adjustment process through which any mismatch regarding maturity, risk, value or linkage with the real economy is corrected systematically. It offers policy implications for regulators, supervisors and international organizations.
Details
Keywords
Junfeng Wang and Vera Butkouskaya
This study constructs the influence mechanism model of sustainable marketing activities (SMAs), event image, commemorative product perceived value and tourists’ behavioral…
Abstract
Purpose
This study constructs the influence mechanism model of sustainable marketing activities (SMAs), event image, commemorative product perceived value and tourists’ behavioral intentions (TBIs) in the sports tourism context of the Beijing Winter Olympic Games. Additionally, the article discusses the role of event image and product perceived value in enhancing the SMAs’ effect on TBIs.
Design/methodology/approach
The research analyzed 315 valid questionnaires from tourists in the Chinese market by structural equation modeling.
Findings
The results indicate that SMAs positively impact sports tourism event image, tourists’ perceived commemorative product value and TBIs. Meanwhile, event image and product perceived value mediate the SMAs and TBIs relationship.
Research limitations/implications
Considering SMAs as essential for sustainable development, this paper contributes to the strategic management discipline. Additionally, the research expands the analysis of event image and product perceived value in the brand theory and customer behavior research.
Practical implications
The article outlines the principal value of SMAs implementation in enhancing behavioral intentions. It also reveals that a favorable event image and good perceived value can enhance SMAs’ effectiveness toward positively influencing TBIs, especially purchase intentions. It provides a new vision for nonprofit organizations to prioritize SMAs’ implementation in marketing strategies.
Originality/value
It is pioneering work with a complex research framework for SMAs implementation in the sports tourism context.
Details
Keywords
Krištof Kovačič, Jurij Gregorc and Božidar Šarler
This study aims to develop an experimentally validated three-dimensional numerical model for predicting different flow patterns produced with a gas dynamic virtual nozzle (GDVN).
Abstract
Purpose
This study aims to develop an experimentally validated three-dimensional numerical model for predicting different flow patterns produced with a gas dynamic virtual nozzle (GDVN).
Design/methodology/approach
The physical model is posed in the mixture formulation and copes with the unsteady, incompressible, isothermal, Newtonian, low turbulent two-phase flow. The computational fluid dynamics numerical solution is based on the half-space finite volume discretisation. The geo-reconstruct volume-of-fluid scheme tracks the interphase boundary between the gas and the liquid. To ensure numerical stability in the transition regime and adequately account for turbulent behaviour, the k-ω shear stress transport turbulence model is used. The model is validated by comparison with the experimental measurements on a vertical, downward-positioned GDVN configuration. Three different combinations of air and water volumetric flow rates have been solved numerically in the range of Reynolds numbers for airflow 1,009–2,596 and water 61–133, respectively, at Weber numbers 1.2–6.2.
Findings
The half-space symmetry allows the numerical reconstruction of the dripping, jetting and indication of the whipping mode. The kinetic energy transfer from the gas to the liquid is analysed, and locations with locally increased gas kinetic energy are observed. The calculated jet shapes reasonably well match the experimentally obtained high-speed camera videos.
Practical implications
The model is used for the virtual studies of new GDVN nozzle designs and optimisation of their operation.
Originality/value
To the best of the authors’ knowledge, the developed model numerically reconstructs all three GDVN flow regimes for the first time.