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Article
Publication date: 11 March 2020

Ali R. Almutairi and Majdi Anwar Quttainah

The purpose of this paper is to examine whether foreign directors’ influence on opportunistic behavior among managers varies between Islamic banks (IBs) and conventional banks…

551

Abstract

Purpose

The purpose of this paper is to examine whether foreign directors’ influence on opportunistic behavior among managers varies between Islamic banks (IBs) and conventional banks (CBs). It also examines how religious ethics and morals guide foreign directors to be better monitors.

Design/methodology/approach

A panel fixed effects regression is used to analyze the effect of foreign directors on opportunistic behavior among managers in IBs and CBs. The authors use different proxies such as loss avoidance, discretionary loan loss provision and expense preference behavior to measure management opportunistic behavior.

Findings

Based on sample of 3,758 bank-year observations for 164 banks over the period 1993-2015, the authors show that the presence of foreign directors in IBs increases boards’ effectiveness in impeding management opportunistic behavior, whereas the presence of foreign directors in CBs reduces boards’ effectiveness in curbing management’s unethical acts. The authors also document that IBs (CBs) with foreign directors demonstrate less (more) earnings management and expense-preference behavior among managers. In addition, the authors’ evidence indicates that the existence of the Shari’ah supervisory boards helps foreign directors be more effective monitors.

Research limitations/implications

The current study focuses on banks only which makes its results subject to sample bias; there are many other forms of financial institutions (e.g. investments, real-estates and mutual funds) complying to the Shari’ah law. Second, owing to the lack of foreign board directors characteristics, the authors cannot investigate the intensity of the specific characteristics that could have specific directions in affecting managerial behavior.

Practical implications

The findings in this paper may help standards-setters, auditors, investors and regulators take appropriate measures and create better policies that reduce managers’ discretion. This could in turn improve information transparency decision-making, monitoring, advising and accounting quality.

Originality/value

The authors’ theoretical framework combines the agency, contingency, resource-dependence, stewardship and stakeholders’ theories and applies them to Shari’ah as an alternative ethical and internal governance mechanism. The authors find that the impact of foreign directors on management opportunistic behavior depends on the corporate religious norms within boards of directors, in particular, suggesting that religious values affect how foreign directors influence bank managers’ behavior.

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Article
Publication date: 7 August 2017

Ali R. Almutairi and Majdi Anwar Quttainah

This paper aims to examine the impact of Shari’ah supervisory boards (SSBs) on the performance of Islamic banks (IBs). It also tests whether SSBs’ attributes affect the…

1595

Abstract

Purpose

This paper aims to examine the impact of Shari’ah supervisory boards (SSBs) on the performance of Islamic banks (IBs). It also tests whether SSBs’ attributes affect the performance of IBs. Based on a sample of 1,803 Islamic bank-year observations from 82 banks in 15 countries over the period 1993-2014 and controlling for factors known to affect bank performance, this study reveals a robust and significant positive relationship between SSBs and Islamic bank performance. This study also shows that the characteristics of SSBs affect the performance of IBs. This research reveals how SSBs influence the performance of IBs, as well as the processes and roles SSBs use to ensure Shari’ah compliance in business transactions.

Design/methodology/approach

The purpose of this study design is to relate SSB presence, size and diversity to financial performance using three techniques. The first technique is a multivariate data analysis that analyzes data arising from more than one variable. The second technique is a clustered regression (clustering by bank), which corrects for serial correlation and produces unbiased t-statistics. Because this sample is drawn from panel data, it is expected serial autocorrelation of the independent variables and error term within banks. In cases where within-company correlation exists, t-statistics based on average regression coefficients from year-by-year regression are upwardly biased and potentially severe (Peterson, 2009). Therefore, this study uses a technique that agrees with Stock and Watson (2002), who show that the standard method of calculating heteroskedasticity-robust standard errors for the fixed-effects estimator generates inconsistent variance estimates. Thus, using the clustered regression is consistent with the fixed-effects estimator. The third technique is a two-stage least-squares regression that helps build an instrumental variable for robustness tests purposes.

Findings

The findings suggest that large corporate boards and large SSBs are more efficient in dealing with different monitoring and advisory roles than small SSBs. Consequently, this suggests that increasing the size of corporate boards and SSBs should improve monitoring and advisory functions, management behavior and organizational performance.

Research limitations/implications

It is possible that there is an upper limit to this benefit, however; we do not explore this limit, which therefore provides opportunities for additional research. Because Shari’ah compliance relates only to a rational legal framework of negative screening relegated to interest prohibition and limiting uncertainty. The interest prohibition and limiting uncertainty have not been investigated between the two samples due to data unavailability. In addition, limited accounting-based measures of financial performance may not accurately portray IB performance; hence, an additional market measure is implemented, which is Tobin’s Q.

Practical implications

Ultimately, these findings could help IBs improve their financial results by enhancing their internal and external governance mechanisms (Walsh and Seward, 1990). They provide a basis for developing larger, more diverse SSBs that are more focused on complying with Shari’ah and corporate governance. The results also have significant policy implications for improving firm-level corporate governance versus improving country-level institutional factors. Both views have their advocates. However, it is very difficult to reform the legal system in a short time. Still, this study shows that struggling IBs have a way to improve their corporate governance and simultaneously improve their financing environment.

Originality/value

This research contributes to the literature on the effects of SSBs on IBs’ organizational financial performance, processes and roles. It is the first to examine empirically the underpinnings of how SSBs affect organizational financial performance via agency theory and contingency theory.

Details

Social Responsibility Journal, vol. 13 no. 3
Type: Research Article
ISSN: 1747-1117

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Article
Publication date: 18 November 2013

Ali R. Almutairi

– The purpose of this paper is to examine the impact of institutional holdings and corporate debts on audit quality, proxied by auditor industry specialization.

1475

Abstract

Purpose

The purpose of this paper is to examine the impact of institutional holdings and corporate debts on audit quality, proxied by auditor industry specialization.

Design/methodology/approach

The tests use regression analysis for a sample of 396 company-years from 2003 to 2008 and control for factors known to affect auditor industry specialization.

Findings

The results show a positive association between institutional ownership and auditor industry specialization. These results are consistent across most measures of auditor industry specialization and different thresholds of audit firm market share. In addition, a positive link is reported between corporate debt and industry specialization by auditors. This result, however, holds under the composite proxy in terms of total assets only.

Research limitations/implications

The major limitation is the unavailability of data on audit fees and sales (revenues) to measure auditor market share.

Practical implications

Institutional investors and debtholders have preference for auditors who can enhance the credibility of financial reporting and improve the quality of financial information and the results document that the choice of specialist auditors can potentially influence this objective.

Originality/value

The paper provides information to academics, regulators, companies, and auditors concerning the impact of institutional investors and creditors on the choice of industry specialists. Also, it shows the importance of industry specialization on audit quality.

Details

Journal of Economic and Administrative Sciences, vol. 29 no. 2
Type: Research Article
ISSN: 2054-6238

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Article
Publication date: 24 July 2009

Ali R. Almutairi, Kimberly A. Dunn and Terrance Skantz

The purpose of this paper is to examine the relation between a company's bid‐ask spread, a proxy for information asymmetry, and auditor tenure and specialization.

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Abstract

Purpose

The purpose of this paper is to examine the relation between a company's bid‐ask spread, a proxy for information asymmetry, and auditor tenure and specialization.

Design/methodology/approach

The tests use clustered regression for a sample of 31,689 company‐years from 1992 to 2001 and control for factors known to impact bid‐ask spread in cross‐section.

Findings

The findings suggest that the market's perception of disclosure quality is higher and private information search opportunities are fewer for companies engaging industry specialist auditors. In addition, the paper finds that information asymmetry has a U‐shaped relation to auditor tenure. This U‐shaped relation holds for both specialists and non‐specialists; however, the bid‐ask spread for specialists tends to fall below that of non‐specialists at all tenure intervals.

Research limitations/implications

The findings may directly result from auditor tenure and specialization or it may be that those auditor‐related characteristics are a subset of concurrent choices made by the company that impacts disclosure quality.

Practical implications

Companies have incentives to lower information asymmetry and the findings document that the choice of a specialist auditor and the length of the auditor relationship can potentially influence this objective.

Originality/value

The paper provides information to academics, regulators, companies, and auditors concerning the effect of auditor‐client relationships on the level of information asymmetry. In addition, it shows the importance of industry specialization and audit firm tenure on audit quality.

Details

Managerial Auditing Journal, vol. 24 no. 7
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 28 July 2021

Laura Aibolovna Kuanova, Rimma Sagiyeva and Nasim Shah Shirazi

This paper aims to study the main trends of scientific research in Islamic finance’s social aspects to clarify place, role and functions, especially in the context of increasing…

2904

Abstract

Purpose

This paper aims to study the main trends of scientific research in Islamic finance’s social aspects to clarify place, role and functions, especially in the context of increasing social problems. To achieve this goal, this paper focuses on the social component of Islamic finance, analyzes publications on social Islamic finance in the Web of Science database, covering the period from 1979 to 2020, specify the geographical localization of research networks, determines the most cited authors and their scientific position.

Design/methodology/approach

The authors have applied several literature review techniques, a bibliometric citation and co-citation analysis, a co-authorship analysis and a review of the most cited papers. The analyzes’ results allow us to offer five future questions in Islamic social finance, zakat and waqf, which have not been investigated before and could influence Islamic social finance and Islamic finance research.

Findings

The authors also derive and summarize five leading future research questions.

Research limitations/implications

This is a limitation of using only the Web of Science Core Collection database as the premier resource and the most trusted citation index for the world’s scientific and scholarly research. Further study might expand the types of analyzed units, include more keywords and include other databases, such as Scopus.

Originality/value

This paper can be considered as an inspirational one to future researchers and policymakers in Islamic social finance.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 5
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 22 October 2024

Ali Hassan Ali, Tarek Zayed, Sulemana Fatoama Abdulai and Roy Dong Wang

This study aims to explore the tower crane safety factors (TCSFs) that influence tower crane safe operations (TCSOs) in modular integrated construction (MiC). It evaluates how the…

96

Abstract

Purpose

This study aims to explore the tower crane safety factors (TCSFs) that influence tower crane safe operations (TCSOs) in modular integrated construction (MiC). It evaluates how the adoption of these factors contributes to achieving TCSOs and promoting sustainable practices (SPs) within MiC.

Design/methodology/approach

To achieve this aim, the study employed a systematic search to ensure a comprehensive collection of variables. Additionally, it conducted a questionnaire survey involving professionals and utilized a brainstorming technique to categorize the different variables. Finally, partial least squares structural equation modeling (PLS-SEM) was employed to test the relationship between TCSOs and SPs.

Findings

The results of measurement models indicated strong convergent and discriminant validity, with each observed variable correlating well with its latent variable. Moreover, a significant positive correlation between TCSOs and SPs was evidenced by a path coefficient (β = 0.755) and a p-value of <0.05. Lastly, the structural model revealed that the independent variables strongly influence the dependent variable (i.e. SPs) by 57%, underscoring safety's pivotal role in advancing sustainability within MiC projects. These findings provide empirical evidence that improving tower crane safety can directly enhance sustainable practices, offering a dual benefit of increased safety and sustainability for the construction sector.

Originality/value

This study makes a unique and previously undiscovered contribution to the field by identifying the TCSFs in MiC and employing a novel approach by utilizing PLS-SEM to create a unique mathematical model. It offers valuable insights into the relationship between TCSFs, TCSOs and SPs, thus contributing to methodological advancements within Safety Science and providing a foundation for future research and practical implementation in the construction industry.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

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Article
Publication date: 14 December 2023

Ali Al Owad, Neeraj Yadav, Vimal Kumar, Vikas Swarnakar, K. Jayakrishna, Salah Haridy and Vishwas Yadav

Lean Six Sigma (LSS) implementation follows a structured approach called define-measure-analyze-improve-control (DMAIC). Earlier research about its application in emergency…

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Abstract

Purpose

Lean Six Sigma (LSS) implementation follows a structured approach called define-measure-analyze-improve-control (DMAIC). Earlier research about its application in emergency healthcare services shows that it requires organizational transformation, which many healthcare setups find difficult. The Kotter change management model facilitates organizational transformation but has not been attempted in LSS settings till now. This study aims to integrate the LSS framework with the Kotter change management model to come up with an integrated framework that will facilitate LSS deployment in emergency health services.

Design/methodology/approach

Two-stage Delphi method was conducted by using a literature review. First, the success factors and barriers of LSS are investigated, especially from an emergency healthcare point of view. The features and benefits of Kotter's change management models are then reviewed. Subsequently, they are integrated to form a framework specific to LSS deployment in an emergency healthcare set-up. The elements of this framework are analyzed using expert opinion ratings. A new framework for LSS deployment in emergency healthcare has been developed, which can prevent failures due to challenges faced by organizations in overcoming resistance to changes.

Findings

The eight steps of the Kotter model such as establishing a sense of urgency, forming a powerful guiding coalition, creating a vision, communicating the vision, empowering others to act on the vision, planning for and creating short-term wins, consolidating improvements and producing still more change, institutionalizing new approaches are derived from the eight common errors that managers make while implementing change in the institution. The study integrated LSS principles and Kotter’s change management model to apply in emergency care units in order to reduce waste and raise the level of service quality provided by healthcare companies.

Research limitations/implications

The present study could contribute knowledge to the literature by providing a framework to integrate lean management and Kotter's change management model for the emergency care unit of the healthcare organization. This framework guides decision-makers and organizations as proper strategies are required for applying lean management practices in any system.

Originality/value

The proposed framework is unique and no other study has prescribed any integrated framework for LSS implementation in emergency healthcare that overcomes resistance to change.

Details

Benchmarking: An International Journal, vol. 32 no. 1
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 16 May 2023

Muhammad Shoaib, Shengzhong Zhang, Hassan Ali, Muhammad Azeem Akbar, Muhammad Hamza and Waheed Ur Rehman

This study aims to identify and prioritize the challenges to adopting blockchain in supply chain management and to make its taxonomic model. Moreover, validate whether these…

208

Abstract

Purpose

This study aims to identify and prioritize the challenges to adopting blockchain in supply chain management and to make its taxonomic model. Moreover, validate whether these challenging factors exist in the real world and, if they exist, then in what percentage.

Design/methodology/approach

This research adopted the fuzzy best-worst method (F-BWM), which integrates fuzzy set theory with the best-worst method to identify and prioritize the prominent challenges of the blockchain-based supply chain by developing a weighted multi-criteria model.

Findings

A total of 20 challenges (CH's) were identified. Lack of storage capacity/scalability and lack of data privacy challenges were found as key challenges. The findings of this study will provide a robust framework of the challenges that will assist academic researchers and industry practitioners in considering the most significant category concerning their working area.

Practical implications

Blockchain provides the best solution for tracing and tracking where RFID has not succeeded. It can improve quality management in a supply chain network by improving standards and speeding up operations. For inventory management, blockchain provides transparency of documentation for both parties within no time.

Originality/value

To the best of the authors' knowledge, no previous research has adopted the fuzzy best-worst method to prioritize the identified challenges of blockchain implementation in the supply chain. Moreover, no study provides a taxonomic model for the challenges of implementing a blockchain-based supply chain.

Details

Kybernetes, vol. 53 no. 10
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 2 September 2019

Abdulaziz Marzouq Almutairi, Konstantinos Salonitis and Ahmed Al-Ashaab

The main purpose of this paper is to present lean implementation in hospital supply chain management (HSCM) and propose a new conceptual framework tailored specifically to the…

1674

Abstract

Purpose

The main purpose of this paper is to present lean implementation in hospital supply chain management (HSCM) and propose a new conceptual framework tailored specifically to the needs of Saudi health-care organizations.

Design/methodology/approach

This paper starts with an in-depth review of existing frameworks or models for lean implementation in health care in general and in HSCM specifically. Based on the literature studies and taking experts’ opinions into account, a new framework for lean implementation in the Saudi HSCM is presented.

Findings

A new lean implementation framework is offered to decision-makers in the health-care organization for implementing a lean approach in HSCM practices.

Research limitations/implications

This study focused on health-care organizations, which were selected from hospitals operated by the Ministry of Health and only those hospitals that are accredited by both the Saudi Central Board for Accreditation of Healthcare Institutions and the Joint Commission International. The framework is limited to Saudi health care.

Practical implications

The lean supply chain management (LSCM) framework is easy to understand and use without much complexity. This simplicity makes the LSCM applicable in health-care settings. Further, LSCM was validated in three different hospitals, and it helped them to identify and improve their non-added activities, thereby readying them for lean deployment in HSCM.

Originality/value

Little attention has been paid to implementing a lean approach by health-care providers in developing countries. This study presents a new framework that is considered the first of its kind for implementing lean in HSCM in Saudi. This framework could help HSCMs’ decision-makers to implement lean successfully in HSCM practices.

Details

International Journal of Lean Six Sigma, vol. 11 no. 3
Type: Research Article
ISSN: 2040-4166

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Article
Publication date: 10 June 2021

Afef Khalil and Imen Ben Slimene

The purpose of this paper is to examine the Board of Directors’ characteristics and their impact on the financial soundness of Islamic banks.

657

Abstract

Purpose

The purpose of this paper is to examine the Board of Directors’ characteristics and their impact on the financial soundness of Islamic banks.

Design/methodology/approach

Regression analysis is applied to test the impact of the Board of Directors’ characteristics on the financial soundness of Islamic banks, using a panel data set of 67 Islamic banks covering 20 countries from 2005 to 2018. The Z-score indicator is used to evaluate the Islamic banks’ soundness. To check the robustness of the results, this paper uses other dependent variables (CAMEL) than the Z-score.

Findings

The main results show that the presence of an independent non-executive director negatively impacts the financial soundness of Islamic banks, while the chief executive officer duality practice has a positive effect on it. Other characteristics of the Board of Directors do not significantly impact the financial soundness of Islamic banks (foreign director, institutional director, chairman with a Shari’ah degree, interlocked chairman and the Board of Directors’ size).

Practical implications

This study aims to fill the gaps in the literature that discuss the Board of Directors’ role in corporate governance and its impact on the financial soundness of Islamic banks. In other words, it shows the role played by the Board of Directors and improves the knowledge of the corporate governance-financial soundness relationship. Plus, managers, investors and regulators may gain evocative insights, particularly those looking to improve their Islamic banks’ soundness by restructuring their boards’ composition.

Originality/value

This study sheds new light on the literature on Islamic banking by clarifying the relationship between the Board of Directors and the financial soundness of Islamic banks. Contrary to previous research, this paper uses an additional hypothesis stating that a chairman with a Shari’ah degree (Fiqh Muamalt) has a positive impact on the financial soundness of Islamic banks.

Details

Corporate Governance: The International Journal of Business in Society, vol. 21 no. 7
Type: Research Article
ISSN: 1472-0701

Keywords

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