Carol Rambo and Tiffanie Grier
Symbolic interaction may not have much of a future. Rome is burning; the Titanic is sinking; and still the band plays on. With some notable exceptions, we symbolic…
Abstract
Symbolic interaction may not have much of a future. Rome is burning; the Titanic is sinking; and still the band plays on. With some notable exceptions, we symbolic interactionists, as a group, appear to be sitting around, paralyzed, watching events unfold from the dizzying heights of our ivory tower, grumbling under our collective breath about how bad things are, but not yet doing enough, much like the rest of the world.You take the blue pill; the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit-hole goes. (Morpheus from The Matrix)
Salah Alhammadi, Simon Archer, Carol Padgett and Rifaat Ahmed Abdel Karim
The purpose of this paper is to examine the practices of Islamic banks in managing the so-called profit sharing investment accounts (PSIA) which they offer as a Shari’ah-compliant…
Abstract
Purpose
The purpose of this paper is to examine the practices of Islamic banks in managing the so-called profit sharing investment accounts (PSIA) which they offer as a Shari’ah-compliant alternative to interest-bearing deposit accounts using an unrestricted Mudarabah contract. In particular, the paper aims to examine the risk-return characteristics of such accounts and to compare these to the returns and risks of shareholders in the same banks. It is relevant that PSIA holders (unrestricted investment account holders – UIAH) are exposed to losses on the assets in which their deposits are invested, while the bank as asset manager (Mudarib) does not bear these losses and as Mudarib typically receives more than 50 per cent of the profits earned on the PSIA. The issue is whether the UIAH are being treated equitably. The influence of a set of corporate governance variables on this issue was also analyzed.
Design/methodology/approach
A sample of 28 Islamic banks was selected from five countries for the period 2002-2013, with data being obtained from Bankscope and Bloomberg and, where necessary, from the banks’ annual reports. First, the risk-return characteristics of the UIAHs’ rates of return and shareholders’ rates of return on equity (ROE) were compared by calculating for each bank the coefficients of variation (CV) of the two series of rates of return. Second, a panel data approach was used to evaluate the effectiveness of corporate governance by examining the extent to which the size of the difference between the rates of return for shareholders and for UIAH was associated with a set of corporate governance variables. Third, a comparison was made between the risk-return characteristics of UIAH’s rates of return and shareholders’ dividend yield rate for a sub-sample of 20 banks for which the information was available.
Findings
For a significant proportion of the banks (9 out of 28), the CVs of the PSIA returns were higher than those of the shareholders’ ROEs, which suggested that in these cases the PSIA holders were receiving inequitable treatment. Likewise, for 7 out of the 20 banks in the sub-sample, the CVs of the PSIA holders’ rates of return were higher than those of the shareholders’ dividend yield rate. In explaining the size of the differences between the rates of return on PSIA and the shareholders’ ROEs, the variable with the greatest explanatory power was the return on assets, implying that when this was high the bank took a maximum Mudarib share of profits. Some other corporate governance variables had the expected signs, as did a country dummy representing the maturity of the market for Islamic banking, but there was little evidence of the effectiveness of corporate governance in protecting the interests of the UIAH.
Research limitations/implications
A limitation of the research was that the inefficiency of the stock markets in the relevant countries and the fact that a few of the banks were not listed made it impossible to use shareholders’ stock market returns. ROE is not a very good proxy, as it is unclear how much value should be placed on retained earnings. Dividend yield rates provide a better comparison with UIAH rates of return, but the data were available for only 20 of the banks. Nevertheless, the results of the analysis strongly suggest that in a significant proportion of cases, UIAH are not being treated equitably.
Practical implications
The implication is that the regulation of Islamic banks needs to be improved to provide better protection to UIAH.
Social implications
Islamic banks operate mainly in emerging markets where the effectiveness of regulation is limited. The ethical basis of Islamic finance provides some mitigation of this problem but apparently fails to do so in a significant proportion of cases. This should be borne in mind when assertions are made about the ethical basis of Islamic finance.
Originality/value
There is a dearth of empirical studies of the practices of Islamic banks and in particular of their treatment of their customers. This is because of various factors: the relative novelty of Islamic finance, the paucity of data and the relatively small size of the body of researchers in the field. This paper aims to contribute to filling this gap.
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Iain Crow, Paul Richardson, Carol Riddington, Frances Simon and Stephen Fineman
This book has been produced by a research team from NACRO (National Association for the Care and Resettlement of Offenders). Readers familiar with NACRO publications will feel a…
Abstract
This book has been produced by a research team from NACRO (National Association for the Care and Resettlement of Offenders). Readers familiar with NACRO publications will feel a bit cheated because a large part of its solid empirical centre has been published elsewhere (Unemployment and Magistrates' Courts, NACRO, 1987) — in a more user‐friendly, and much less‐expensive, form.
The purpose of this paper is to introduce the concept of information transparency in a for‐profit business environment, and explain the importance and relevance of the concept in…
Abstract
Purpose
The purpose of this paper is to introduce the concept of information transparency in a for‐profit business environment, and explain the importance and relevance of the concept in creating a transparent organization.
Design/methodology/approach
Through a review of a sample of the existing literature focusing on transparency, a common theme regarding information was observed. Most research addresses information from a technology/systems perspective not as a basis of creating or modifying corporate strategy.
Findings
In a corporate environment, information transparency is reached when internal decision makers receive, at their desktop, the internal and external information necessary to make sound business decisions. The infrastructure and the technology of the computer systems used to deliver the information are not of primary importance to information transparency. Information technology systems are the means of delivery, the importance and value of information transparency is the content of the message and the actions that result from them.
Originality/value
This analysis may provide a rationale for the introduction of a new or expanded corporate information service outside the structure of an information technology department.
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This paper aims to discuss best practices in corporate libraries. It is limited to libraries within the USA and excludes medical, hospital, pharmaceutical and government libraries.
Abstract
Purpose
This paper aims to discuss best practices in corporate libraries. It is limited to libraries within the USA and excludes medical, hospital, pharmaceutical and government libraries.
Design/methodology/approach
Definitions of a corporate library and best practices are presented from the literature. The absence of generally accepted best practices within corporate libraries is noted and an explanation for its absence is presented.
Findings
The literature review indicates that there is an absence of generally accepted best practices within the corporate library community. This lack of quantitative data further weakens the position of corporate libraries within their organization as they cannot compare their operations to other service units. Corporate library managers must use the language and analysis tools of upper management to align the corporate library with the larger mission of the corporation to ensure its survival.
Research limitations/implications
The absence of quantitative data focusing on corporate library services adversely impacts the future of corporate libraries. Until the professional association(s) representing the interests of corporate libraries develop, validate and administer a survey of corporate library services and costs, corporate librarians will remain at a competitive disadvantage when discussing the future of the corporate library.
Originality/value
The paper discusses best practices in corporate libraries.
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In the light of the growing emphasis on independent learning and non‐technical skills in education and employment, the study aims to examine the relevance of learning style to…
Abstract
Purpose
In the light of the growing emphasis on independent learning and non‐technical skills in education and employment, the study aims to examine the relevance of learning style to student self‐assessment skill.
Design/methodology/approach
A sample of first‐year undergraduate students was asked to provide self‐assessed marks for their coursework and to complete measures of learning style. Tutors' marks for student coursework were also gathered.
Findings
Results revealed a positive correlation between a deep approach to learning and self‐assessment skill, demonstrating the relevance of learning style to self‐assessment skill. A negative correlation between student‐estimated mark and a surface approach suggested that students are sensitive to the demand characteristics of assessments and are aware of how these correspond to their preferred learning style. Both strategic and deep approaches to learning correlated positively with tutor mark, as is commonly reported.
Originality/value
It is suggested that the study provides some insight into the composition of self‐assessment skill and implications for pedagogical practice are considered.
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Natalie Antal, Bruce Kingma, Duncan Moore and Deborah Streeter
In 2004 and 2007, the Kauffman Foundation awarded 18 universities and colleges $3–5 million dollars each to develop radiant model entrepreneurship education programs and…
Abstract
In 2004 and 2007, the Kauffman Foundation awarded 18 universities and colleges $3–5 million dollars each to develop radiant model entrepreneurship education programs and campus-wide entrepreneurial ecosystems. Grant recipients were required to have a senior level administrator to oversee the program who reported to the Provost, President, or Chancellor. Award recipients included Syracuse University (2007) and the University of Rochester (2004). Cornell was not a Kauffman campus. This chapter explores three case studies in the radiant model of university-wide entrepreneurship education as deployed at Cornell University, The University of Rochester, and Syracuse University. The authors examine the history, accelerators, and challenges of the radiant model of university-wide entrepreneurship education.
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Carol-Ann Tetrault Sirsly and Sujit Sur
The purpose of this paper is to explore how the risk management objectives of the firm's owners influence the organization's sustainability strategies with a particular focus on…
Abstract
Purpose
The purpose of this paper is to explore how the risk management objectives of the firm's owners influence the organization's sustainability strategies with a particular focus on new sustainability related initiatives. Given shareholder objectives direct firm attention to refine organizational focus, the paper's main premise is that ultimately it is the ownership structure of the firm that sets the agenda in terms of sustainability initiatives. Considering the broad distinctions between family/founder ownership, corporate ownership and institutional ownership, the overall ownership structure of the firm will strongly influence the motivations and temporal considerations of the firm vis-à-vis sustainability related initiatives.
Design/methodology/approach
Within a resource-based view, the authors link first-mover advantages and sustainability strategies as a reflection of owners' perceptions of risk management and underlying motivations.
Findings
The authors postulate that firms with predominant family/founder ownership undertake sustainability-related initiatives as patient investors based on their ideological motivations, while corporate owners undertake initiatives with capabilities building orientation, with institutional owners adopting sustainability-related initiatives as a risk mitigation strategy.
Practical implications
Managers charged with developing sustainability strategies may add a further consideration, namely taking into account the risk management objectives of the owners of the firm, in choosing and justifying the type of sustainability innovation.
Originality/value
This conceptual paper provides a novel link between the first-mover advantage of sustainability initiatives and the ownership and governance of the organization. It contributes to the limited strategy research on ownership impact on sustainability initiatives and provides guidance to managers in developing appropriate strategies.
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Helen Wildy, Simon Clarke and Carol Cardno
Our chapter examines the ways national developments in Australia and New Zealand over the past two decades reflect distinctively antipodean understandings of educational…
Abstract
Our chapter examines the ways national developments in Australia and New Zealand over the past two decades reflect distinctively antipodean understandings of educational leadership and management. Our interest is twofold. We are concerned about the extent to which these understandings are reflected in strategies designed to enhance the quality of school leadership. We are also concerned about the extent to which these strategies represent progress towards achieving ‘sustainable’ school leadership. We define sustainable leadership in terms of both building leadership capacity within the organisation and embedding lasting organisational change (Fink & Brayman, 2006; Hargreaves & Fink, 2006; Spillane, 2006). The concept used here implies both models of distributed or shared leadership and leadership succession.
Carol Isaac and Lindsay Griffin
Because stereotypically masculine behaviors are required for effective leadership, examining female chairs’ leadership in academic medicine can provide insight into the complex…
Abstract
Purpose
Because stereotypically masculine behaviors are required for effective leadership, examining female chairs’ leadership in academic medicine can provide insight into the complex ways in which gender impacts on their leadership practices. The paper aims to discuss this issue.
Design/methodology/approach
The author interviewed three female clinical chairs and compared the findings to interviews with 28 of their faculty. Grounded theory analysis of the subsequent text gathered comprehensive, systematic, and in-depth information about this case of interest at a US top-tier academic medical center.
Findings
Four of five themes from the faculty were consistent with the chair’s narrative with modifications: Prior Environment (Motivated by Excellence), Tough, Direct, Transparent (Developing Trust), Communal Actions (Creating Diversity of Opinion), and Building Power through Consensus (an “Artful Exercise”) with an additional theme, the Significance (and Insignificance) of a Female Chair. While faculty members were acutely aware of the chair’s gender, the chairs paradoxically vacillated between gender being a “non-issue” and noting that male chairs “don’t do laundry.” All three female chairs in this study independently and explicitly stated that gender was not a barrier, yet intuitively used successful strategies derived from the research literature.
Originality/value
This study suggests that while their gender was highlighted by faculty, these women dismissed gender as a “non-issue.” The duality of gender for these three female leaders was both minimized and subtly affirmed.