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This chapter investigates the short-run and long-run economic implications of the shareholder activism in family-controlled firms in Malaysia.

In order to investigate the impact of MSWG activism on RPT, we collected related party transactions data (sales and purchases) and inter-segment sales from the annual reports of the firms. We use standard event study methodology to calculate abnormal returns for the sample and control firms.

We do not find significant effect on the share performance in the short-run after MSWG engagement with the targeted firms. However in the long-run, our results show significant improvement in the MSWG targeted family-controlled firms’ performance compared to non-targeted family firms. We also examine the changes in the level of related party transactions. We do not find significant changes in the level of such sales and purchase transactions except for inter-segment sales.

We argue that market is not strong form efficient because market did not react to the MSWG engagement with the management of these companies. We propose that future research should focus on the investors perception of the MSWG involvement so that a clear picture of its significance can be observable to other firms in the market.

Even though the activism practices are still less aggressive in Malaysia than those found in the developed countries such as the United Kingdom and the United States, however our results show that shareholder activism led by MSWG have impact on the family-owned firms performance in the long-run.

We argue that it is the first study to examine MSWG engagements with the family-controlled firms in Malaysia.

Introduction: When people need to take decisions, being economic decisions or otherwise, their decisions tend to rely on information the brain has already processed, and this includes the resources that the person has already invested. This is called sunk cost bias in the behavioural economics literature. On the other hand, mental practices could lead to the mental accounting bias, where people allocate a different value to a fixed amount of money, depending on circumstances.

Purpose: In this chapter, both biases mental accounting and sunk cost are investigated for the tourism industry in Turkey.

Methodology: The topic is researched through scenario-based questions and the Chi-square Automatic Interaction Detector (CHAID) method is applied.

Findings: As a result, it could be reported that people, regardless of gender, fall into sunk cost and mental accounting biases in decisions relating to their vacations. Mental accounting biases can be primarily explained using the scenario questions posed rather than gender, education, and income while sunk cost bias is explained by status, ‘being s university student’ and ‘income level’.

Practical implications: Rapid price changes in the tourism industry can disturb consumers who are mental accounting and sunk cost biased. So, they can change their holiday preferences or be dissatisfied with it and give negative feedback.

The purpose of this paper is to develop a process model of an implementation of an emerging information technology in a library. The study was motivated by a lack of process model that can guide existing and future library managers in implementing such technology.

The model was developed using the qualitative research method. Specifically, the case study research approach was employed to investigate how the first public library in the UK implemented the Radio Frequency Identification (RFID) technology. Interviews were conducted with the people who were involved in the implementation of the technology.

A process model of emerging IT implementation in a library was developed. The model is divided into three phases: before, during and after the installation. It consists of ten activities, starting from soliciting requirements until enhancing the RFID system.

The model developed in this study overcomes the lack of a model on emerging IT implementation process. However, it was based on the implementation of RFID technology. Future research can enhance the model by using it on future library technologies.

Library managers may use the model to guide them in the implementation of emerging IT generally, and RFID specifically.

The contribution of this study lies in the new model of emerging IT implementation process.

The purpose of this paper is to identify the hardcore poor, moderately poor and just poor among zakat recipients in southwest Nigeria. It seeks to explain the criteria and basis used in determining the most deprived among zakat recipients considering the multi-dimensional nature of poverty and modern-day situations.

Out of 200 questionnaires that were randomly distributed among the recipients of zakat from Al-Hayat Relief Foundation and Zakat and Sadaqat Foundation in southwest Nigeria, only 150 were completed. Headcount poverty index, poverty gap index, multi-dimensional index on standard of living, income ranges and monthly per-capita household expenditures using the national workers’ minimum wage as poverty threshold were adopted for analyzing the data collected.

On the basis of the income range of the recipients, 128 out of 150 recipients were found to be poor, whereas on using the MMPCHE 93 out of 150 recipients were found to be poor. Both results were further classified into hardcore poor, moderately poor and just poor recipients. The multi-dimensional index on standard of living was also used to capture poverty in terms of deprivation in standard of living, such as non-availability of electricity, drinking water, cooking fuel, sanitation, flooring and assets.

A limited number of recipients were evaluated in this study, and hence it would be difficult to generalize. Also, some recipients had difficulty in answering the survey questionnaire used in this study, which reduced the amount of information derived. Thus, an in-depth interview method coupled with a survey can be used in future studies.

The implication of this result is either that the threshold and measures adopted are not capturing the poor and the needy or that the zakat institutions are not reaching out enough to the poor and the needy eligible to receive zakat. This paper suggests the introduction of a more uniform and comprehensive zakat-based poverty threshold for the poor and the needy that will continuously be examined by Shariah scholars and researchers to best engage with the modern-day situation.

This paper examines the measures of poverty and concludes on the introduction of a well-comprehensive threshold that is Shariah compliant and based on the plight of the modern-day poor and needy, which can go a long way in achieving the objectives of zakat.

This study recommends a more comprehensive zakat-based poverty threshold that will capture the multi-dimensional nature of poverty in the present day for better outreach to the most deprived needy and poor.

The hoped-for “just recovery” from the COVID-19 pandemic has not occurred. This chapter examines socioeconomic disparities laid bare by the pandemic in the United States. They have left a marked impression, suggesting that the concept of “American exceptionalism” has negative as well as positive connotations especially when compared with other high-income countries. Strikingly, democracy is not delivering for many Americans, and yet that is not a new situation, as much scholarship shows. These findings challenge received wisdom about how this country is in the aggregate labeled “developed” when many Americans live in conditions similar to or worse than those the World Bank categorizes as “developing.” Against this background, the chapter assesses experiential learning models for engaging students on the SDGs to assess these disparities. While researching social justice gaps in Pittsburgh and Atlanta with Carnegie Mellon students, however, the lack of disaggregated data emerged as a human rights issue and major barrier to fulfilling the SDG principle to “leave no one behind” (LNOB). These findings suggest a paradigm shift is needed, using the SDGs to advance human rights, elevating socioeconomic rights, localizing issues, generating disaggregated data to drive policy recommendations, and scaling up the community of practice that is engaged in this paradigm shift. Field building these aspects of sustainable development has the possibility to positively shape policies, outcomes, and help this democracy actually deliver for all, not just for some. For the United States to lead and bolster human rights and democracy around the world, inequalities at home must be addressed.

The purpose of this study is to conceptualise the relationship between information disclosure and Waqif commitment, taking into consideration the role of level of trust (mediator variable) and communication and type of payment (moderator variables).

The conceptual framework is developed from the theory of social exchange (mediated philanthropy model) and selected previous literature concerning commitment.

According to previous empirical research, a conceptual framework was developed to facilitate further analysis in the study. Nine propositions were raised in this paper where the factor of communication and payment method is proposed to no longer the factor that determined commitment but as moderator. There is five antecedent of information disclosure proposed, which is basic information, financial information, non-financial information, future information and governance information. Also, trust is offered to be the mediator variable between information disclosure and Waqf commitment.

By realising many factors that may influence the commitment of waqf such as demonstrable utility, emotional utility and familial utility, this study only focusses on the effect of information disclosure.

This paper provides an opportunity for further empirical studies to prove the relationship between information disclosure and Waqf commitment. This paper also brought opportunities to investigate both conceptually and empirically, other factors that could affect Waqf commitment.

To the best of the author’s knowledge, few studies have been done concerning donors commitment. While there are none yet, the research examined Waqf commitment. The originality value of this study is that there is a gap in knowledge regarding the analysis of Waqf commitment, the level of trust among waqif is the information that Waqf expected, the preferred communication between Mutawalli and Waqf and type of payment that Waqf favoured. This study is believed to be a novel based on the framework developed.

This paper aims to propose cash waqf (endowment) to develop a conceptual model that can be utilised to extend microfinance for refugees.

Qualitative method is used in this research. An extensive review of the literature has been conducted. Latest literature on refugees, microfinance has been critically examined beside the current cash waqf models.

Empirical studies have shown that many refugees are equipped with marketable skills and talents that can be utilised to improve their socio-economic situations. The proposed model – cash waqf refugee microfinance fund (CWRMF) – is structured to extend microfinance to potential refugee micro entrepreneurs. To address the lack of collateral, which is a requirement to gain any microfinance, CWRMF has been incorporated with a takaful unit (cooperation) by which refugees may guarantee each other. Additionally, the model has also been structured to address the challenge of sustainability of the institution that would provide microfinance. Hence, a reserve fund has also been integrated into the model.

CWRMF represents a potential model to be implemented by humanitarian non-governmental organisations (NGOs) and aid agencies to support livelihood of refugees in particular for Muslim refugees. Positive outcome is expected from the implementation of this model. This is because of the various advantages of microfinance programs not only on refugees but also on concerned NGOs, host populations and donor parties. Additionally, this paper is a set of primarily thoughts aims to open the door wider for more researchers to explore the potential of cash waqf as one of the instruments to finance refugee microenterprises and business activities.

Recently cash waqf has been into several models for socio-economic development and poverty alleviation. This paper is proposing cash waqf as a source for a microfinance fund that can contribute in the improvement of socio-economic situations of millions of refugees around the world.

This paper aims to test the main factors that affect cash waqf collection among the employees of Islamic banking institutions (IBIs) in Malaysia.

The data was gathered using a survey method from 218 employees of IBIs in Malaysia. The obtained data was analyzed using the Statistical Package for the Social Sciences software and smart partial least squares-structural equation modeling to verify the hypothesis and reach conclusions.

The results revealed that word of mouth and trust have significant positive impacts on cash waqf collection. The outcomes also confirmed that convenience and accessibility to cash waqf play significant roles in affecting cash waqf collection.

Based on the researchers’ knowledge, there are only a few studies which focused on measuring the driver of cash waqf collection from the employees’ perspective, particularly in the Malaysian context. This study specifically applies the theory of reasoned action to determine employees’ attitudes toward cash waqf fund collections in IBIs in Malaysia. Having an understanding of the factors that influence employees to contribute to cash waqf would better equip IBIs in managing their cash waqf contributions and in designing their marketing and branding strategies for promoting their institutions.