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Available. Open Access. Open Access
Article
Publication date: 25 May 2021

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.

2278

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

Islamic Economic Studies, vol. 29 no. 1
Type: Research Article
ISSN: 1319-1616

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Article
Publication date: 27 August 2024

Nadirah Mat Pozian, Yvette D. Miller and Jenni Mays

Evidence for the availability and utilisation of family-friendly work conditions (FFWCs) in Malaysia has not been comprehensively reviewed. Whether persistent inequities are due…

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Abstract

Purpose

Evidence for the availability and utilisation of family-friendly work conditions (FFWCs) in Malaysia has not been comprehensively reviewed. Whether persistent inequities are due to poor employer provision of work conditions or low employee uptake remains unknown. This scoping review to assess the scope of available evidence for availability and utilisation of specific FFWCs among women in Malaysia, and synthesise reported findings.

Design/methodology/approach

This scoping review used Arksey and O’Malley’s framework and twenty-two articles were reviewed.

Findings

Flexible work hours, telecommuting/work from home, staggered work hours, childcare centres proximal to workplaces, and childcare subsidies were reported as most commonly available work conditions. Available leave varied across organisations and sectors in provision of payment and duration. Flexible work hours, leave, and childcare centres proximal to workplaces were the conditions most used by employees. However, the validity of observed availability and utilisation of work conditions in Malaysia is questionable, due to inconsistencies in the specificity and range of work conditions assessed and heterogeneity of samples.

Practical implications

National monitoring of the accessibility and uptake of FFWCs is required to guide investment decisions about family-friendly policy initiatives to effectively advance gender equity in the Malaysian labour force.

Originality/value

This scoping review provides the first comprehensive synthesis and summary of the availability and utilisation of FFWCs in Malaysia.

Peer review

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2024-0103

Details

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

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Article
Publication date: 28 June 2022

Maqsood Ahmad

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management…

2797

Abstract

Purpose

This article aims to systematically review the literature published in recognized journals focused on cognitive heuristic-driven biases and their effect on investment management activities and market efficiency. It also includes some of the research work on the origins and foundations of behavioral finance, and how this has grown substantially to become an established and particular subject of study in its own right. The study also aims to provide future direction to the researchers working in this field.

Design/methodology/approach

For doing research synthesis, a systematic literature review (SLR) approach was applied considering research studies published within the time period, i.e. 1970–2021. This study attempted to accomplish a critical review of 176 studies out of 256 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioral finance domain-related explicitly to cognitive heuristic-driven biases and their effect on investment management activities and market efficiency as well as on the origins and foundations of behavioral finance.

Findings

This review reveals that investors often use cognitive heuristics to reduce the risk of losses in uncertain situations, but that leads to errors in judgment; as a result, investors make irrational decisions, which may cause the market to overreact or underreact – in both situations, the market becomes inefficient. Overall, the literature demonstrates that there is currently no consensus on the usefulness of cognitive heuristics in the context of investment management activities and market efficiency. Therefore, a lack of consensus about this topic suggests that further studies may bring relevant contributions to the literature. Based on the gaps analysis, three major categories of gaps, namely theoretical and methodological gaps, and contextual gaps, are found, where research is needed.

Practical implications

The skillful understanding and knowledge of the cognitive heuristic-driven biases will help the investors, financial institutions and policymakers to overcome the adverse effect of these behavioral biases in the stock market. This article provides a detailed explanation of cognitive heuristic-driven biases and their influence on investment management activities and market efficiency, which could be very useful for finance practitioners, such as an investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making their financial management strategies.

Originality/value

Currently, no recent study exists, which reviews and evaluates the empirical research on cognitive heuristic-driven biases displayed by investors. The current study is original in discussing the role of cognitive heuristic-driven biases in investment management activities and market efficiency as well as the history and foundations of behavioral finance by means of research synthesis. This paper is useful to researchers, academicians, policymakers and those working in the area of behavioral finance in understanding the role that cognitive heuristic plays in investment management activities and market efficiency.

Details

International Journal of Emerging Markets, vol. 19 no. 2
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 5 March 2021

Atif Saleem Butt, Syed Hamad Hassan Shah and Ahmad Bayiz Ahmad

The purpose of this paper is to explore how knowledge hiding affects buyer-supplier relationship performance in the supply chain.

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Abstract

Purpose

The purpose of this paper is to explore how knowledge hiding affects buyer-supplier relationship performance in the supply chain.

Design/methodology/approach

This study uses a multiple case study methodology. Overall, 26 semi-structured interviews (13 dyadic interviews) with managers of buying and supplying firms (who have been a victim of knowledge hiding) were undertaken.

Findings

Based on comprehensive data analysis, results reveal seven factors that adversely affect buyer-supplier relationship performance (lack of trust, lack of cooperation and lack of commitment). In addition, results reveal that such factors reduced the firm’s business performance in terms of low-quality products, increased lead time and higher costs.

Research limitations/implications

This study has some limitations. First, the results of this study are not generalizable to a broader population. Second, this study explores behavioral patterns with respect to United Arab Emirates culture only.

Practical implications

Firms can use the findings from this study to understand how knowledge hiding in a buyer-supplier relationship adversely affects a buyer-supplier relationship performance.

Originality/value

A considerable weakness in buyer-supplier relationship literature is a need for a study examining how knowledge hiding harms buyer-supplier relationship performance in the supply chain. This paper addresses this gap.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 53 no. 1
Type: Research Article
ISSN: 2059-5891

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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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Available. Open Access. Open Access
Article
Publication date: 28 May 2024

Asad Hassan Butt, Hassan Ahmad, Asif Muzaffar, Waseem Irshad, Muhammad Usman Mumtaz and Talha Zubair Ahmad Khan

This study aims to investigate how gamification, namely, WeChat’s cultural gifting function, improves emotional involvement among three generations (Y, X and silver) in mobile…

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Abstract

Purpose

This study aims to investigate how gamification, namely, WeChat’s cultural gifting function, improves emotional involvement among three generations (Y, X and silver) in mobile payments. It draws attention to the beneficial effects of cultural components and digital intimacy on gamified mobile payment systems.

Design/methodology/approach

The data were collected from Y, X and silver generation in Dalian, China. The users were well equipped with the WeChat pay features and had experience. The PLS-SEM software was used to assess the data.

Findings

The findings show that consumer word of mouth and loyalty are positively impacted by perceived utility, fun, and enjoyment. Besides, gamification components like fun and playfulness have a favourable effect on how useful mobile payments are judged to be. It demonstrates how delighted and ecstatic users are with WeChat Hongbao. In addition, the positive moderation effect of intimacy on the hypothesised connections shows that all three generations are likely to accept gamified money features. These results provide a substantial contribution to our comprehension of gamification in the context of mobile payment services for all three generations.

Originality/value

The study is distinctive because it focuses on how China’s three generations use WeChat Pay for routine transactions. The framework confirms that the gamification elements improve user performance and encourage continued usage of mobile payment systems.

Objetivo

Este estudio investiga cómo la gamificación, específicamente la función de regalos culturales de WeChat, mejora la participación emocional entre tres generaciones (Y, X y plata) en los pagos móviles. Se presta atención a los efectos beneficiosos de los componentes culturales y la intimidad digital en los sistemas de pago móvil gamificados.

Diseño/metodología/enfoque/Metodología/Enfoque

Los datos fueron recopilados de las generaciones Y, X y plata en Dalian, China. Los usuarios estaban familiarizados con las características de pago de WeChat y tenían experiencia. Se utilizó el software PLS-SEM para evaluar los datos.

Resultados

Los resultados muestran que la reputación y la lealtad del consumidor son positivamente influenciadas por la utilidad percibida, la diversión y el disfrute. Los componentes de gamificación, como la diversión y la jugabilidad, tienen un efecto favorable en cómo se juzga la utilidad de los pagos móviles. Se demuestra cuán encantados están los usuarios con WeChat Hongbao. Además, la moderación positiva de la intimidad en las relaciones supuestas muestra que las tres generaciones tienen probabilidades de aceptar las características de dinero gamificado. Estos resultados contribuyen sustancialmente a nuestra comprensión de la gamificación en el contexto de los servicios de pago móvil para las tres generaciones.

Originalidad

El estudio es novedoso ya que se centra en cómo las tres generaciones de China utilizan WeChat Pay para transacciones rutinarias. El marco confirma que los elementos de gamificación mejoran el rendimiento del usuario y fomentan el uso continuado de los sistemas de pago móvil.

目的

本研究探讨了游戏化, 即微信的文化赠送功能, 如何提高三代人(Y、X和银发族)在移动支付中的情感投入。它引起了人们对文化成分和数字亲密关系对游戏化移动支付系统的有益影响的注意。

设计/方法/途径

数据来自中国大连市的Y、X和银发族用户。用户对微信支付功能非常熟悉, 并具有使用经验。采用PLS-SEM软件对数据进行评估。

研究结果

结果表明, 消费者的口碑和忠诚度受到了感知效用、乐趣和享受的积极影响。乐趣和趣味等游戏化组件对移动支付的有用性评估产生了积极影响, 展示了用户对微信红包的喜悦和兴奋程度。此外, 亲密关系对假设连接的正向调节效应表明, 三代人都可能接受游戏化货币功能。这些结果为我们理解移动支付服务背景下游戏化对三代人的贡献提供了实质性的帮助。

创新性

该研究独特之处在于它着眼于中国三代人如何将微信支付用于日常交易。该框架证实了游戏化元素如何提高用户绩效并鼓励继续使用移动支付系统。

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Article
Publication date: 1 June 2023

Maqsood Ahmad and Qiang Wu

This study aims to use a qualitative approach to explore and clarify the mechanism by which heuristic-driven biases influence the decisions and performance of individual investors…

916

Abstract

Purpose

This study aims to use a qualitative approach to explore and clarify the mechanism by which heuristic-driven biases influence the decisions and performance of individual investors actively trading on the Pakistan Stock Exchange (PSX). It also aims to identify how to overcome the negative effect of heuristic-driven biases, so that finance practitioners can avoid the expensive errors which they cause.

Design/methodology/approach

This study adopts an interpretative approach. Qualitative data was collected in semistructured interviews, in which the target population was asked open-ended questions. The sample consists of five brokers and/or investment strategists/advisors who maintain investors’ accounts or provide investment advice to investors on the PSX, who were selected on a convenient basis. The researchers analyzed the interview data thematically.

Findings

The results confirm that investors often use heuristics, causing several heuristic-driven biases when trading on the stock market, specifically, reliance on recognition-based heuristics, namely, alphabetical ordering of firm names, name memorability and name fluency, as well as cognitive heuristics, such as herding behavior, disposition effect, anchoring and adjustment, repetitiveness, overconfidence and availability biases. These lead investors to make suboptimal decisions relating to their investment management activities. Due to these heuristic-driven biases, investors trade excessively in the stock market, and their investment performance is adversely affected.

Originality/value

This study provides a practical framework to explore and clarify the mechanism by which heuristic-driven biases influence investment management activities. To the best of authors’ knowledge, the current study is the first to focus on links between heuristic-driven biases, investment decisions and performance using a qualitative approach. Furthermore, with the help of a qualitative approach, the investigators also highlight some factors causing an increased use of heuristic variables by investors and discuss practical approaches to overcoming the negative effects of heuristics factors, so that finance practitioners can avoid repeating the expensive errors which they cause, which also differentiates this study from others.

Details

Qualitative Research in Financial Markets, vol. 16 no. 2
Type: Research Article
ISSN: 1755-4179

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Article
Publication date: 7 August 2017

Mohammed Abdullah Ammer and Nurwati A. Ahmad-Zaluki

Presently, one of the major governance issues faced by management and shareholders of organizations is the gender composition of the boards of directors and audit committees. This…

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Abstract

Purpose

Presently, one of the major governance issues faced by management and shareholders of organizations is the gender composition of the boards of directors and audit committees. This study aims to examine the impact of gender diversity in audit committees on the accuracy of management earnings forecasts disclosure in initial public offering (IPO) prospectuses.

Design/methodology/approach

The study sample comprises 190 Malaysian companies issuing IPOs that transformed into public companies during the period 2002-2012. Earnings forecasts accuracy (quality) is proxied by absolute forecast error and the study model is developed based on the frameworks of the signalling theory, the agency theory and the resource-dependence theory.

Findings

The study proposes that female directors introduce a set of specific features in the boardroom that serve to improve investor protection and efficient monitoring of management. However, findings reveal an insignificantly positive relationship between gender diversity in audit committees and absolute forecast error, which shows that more female directors in audit committees could translate into more errors and less accuracy in earnings forecasts.

Practical implications

Considering the recent regulatory developments that encourage the number of women on the board of directors, the findings obtained have significant implications for policymakers. The study findings can also be invaluable to investors, investment analysts, market players and researchers.

Originality/value

The composition of the board of directors and audit committees in terms of gender plays a significant role in the promotion of effective corporate governance practices. This study is one of the pioneering studies that examines the advantages of gender diversity in the board of directors. It is also the first study to extend IPO literature by investigating the role of gender diversity in audit committees in the enhancement of accurate management earnings forecasts included in the IPO prospectuses.

Details

Gender in Management: An International Journal, vol. 32 no. 6
Type: Research Article
ISSN: 1754-2413

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Article
Publication date: 11 November 2020

Hemin Ali Hassan, Xiaodong Zhang and Ahmad Bayiz Ahmad

This paper builds on and extends the theory of planned behavior (TPB) by examining empirically the underlying mechanism through which red tape is associated with employee…

552

Abstract

Purpose

This paper builds on and extends the theory of planned behavior (TPB) by examining empirically the underlying mechanism through which red tape is associated with employee change-supportive intention (CSI). It investigates red tape as an antecedent of CSI and examines the mediation role of change-related attitude, subjective norm and perceived behavioral control (PBC) in the relationship between red tape and CSI.

Design/methodology/approach

To test the study's hypotheses, cross-sectional data were collected from 183 employees working at a public organization in the Kurdistan Region of Iraq that was going through a major change. Regression analyses and the PROCESS macro for SPSS were used.

Findings

Consistent with our expectations, the results indicate that red tape negatively predicts CSI. Red tape also predicts change-related attitude, subjective norm and PBC, which consequently predict CSI. The results also reveal that the relationship between red tape and CSI is mediated by change-related attitude and subjective norm.

Research limitations/implications

The study is limited in using cross-sectional data at a point in time and in investigating intention only, rather than actual behavior.

Originality/value

While prior work shows that red tape is a relevant factor that may affect employee responses to change in public sector, the psychological processes on which this relationship is based are still not fully explained. Therefore, this is the first study that aims to shed some light on this relationship.

Details

Leadership & Organization Development Journal, vol. 42 no. 1
Type: Research Article
ISSN: 0143-7739

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Article
Publication date: 2 January 2020

Ahmad Bayiz Ahmad, Bangcheng Liu and Atif Saleem Butt

The purpose of this paper is to develop a standardized, psychometrically sound instrument for the emerging construct of change recipient proactivity (CRP), using a deductive…

931

Abstract

Purpose

The purpose of this paper is to develop a standardized, psychometrically sound instrument for the emerging construct of change recipient proactivity (CRP), using a deductive approach.

Design/methodology/approach

Using a systematic item-development framework as a guide (i.e. item generation, questionnaire administration, item reduction and scale evaluation) and based on a sample of 414 white-collar employees, this paper discusses the development and validation of an instrument that can be used to measure change recipient’s proactive behavioral responses to planned change efforts.

Findings

Results suggest that our proposed CRP scale is internally consistent (reliable) and valid in that it is conceptually distinct from, yet empirically correlated with neighboring constructs such as affective commitment to change, readiness for change and proactive personality.

Research limitations/implications

The findings illustrate that change recipients can demonstrate proactive behaviors in response to change efforts. However, this study’s contribution is only a first step, requiring further theoretical and methodological refinement of the scale in different contexts.

Originality/value

The deductive nature of our study resulted in a comprehensive and domain-specific scale assessing recipients’ proactive responses to organizational change efforts. This opens doors to empirical studies on examining the conditions under which change recipients “may” step outside the boundaries of passivity to respond positively and proactivity to organizational change efforts.

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