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Article
Publication date: 7 March 2023

Normawati Non and Norazlin Ab Aziz

This paper aims to examine if Malaysian public listed companies have expressed any specific sentiment(s) when publishing their financial performance during the COVID-19 pandemic.

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Abstract

Purpose

This paper aims to examine if Malaysian public listed companies have expressed any specific sentiment(s) when publishing their financial performance during the COVID-19 pandemic.

Design/methodology/approach

The disclosed sentiments contained in the management discussion and analysis section of the companies’ annual reports were extracted by means of computer-automated textual analysis through the linguistic inquiry and word counts and the Loughran–McDonald Financial Sentiment Dictionary. Next, a correlation analysis was conducted. Finally, a qualitative content analysis (QCA) was conducted to confirm these sentiments.

Findings

The analysis shows that companies adopted various tones of sentiments when communicating with their stakeholders. Most companies used negative sentiments to voice their concerns about how the COVID-19 pandemic has impacted upon their business operations. Only a few companies reflected positive sentiments, whilst those that experienced operating losses also expressed uncertainty.

Research limitations/implications

This study may assist either the regulators or accounting bodies to introduce a reporting framework that public companies can adopt during natural hazards. It also provides useful insights to (potential) investors to enable them to better understand the business landscape. For future research, the same study could be conducted on more countries so that their experiences can be used to better understand the business phenomenon from a global perspective.

Originality/value

This study is one of few studies to adopt automated textual analysis and QCA to examine the exhibited sentiments when public companies reported their financial performance during the COVID-19 pandemic.

Details

Journal of Financial Reporting and Accounting, vol. 21 no. 4
Type: Research Article
ISSN: 1985-2517

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Article
Publication date: 25 February 2025

Novi Puspitasari, Sutan Emir Hidayat, Norazlin Ab Aziz, Abdul Muhsyi and Dewi Prihatini

The Indonesian Government has a vision to make Indonesia the center of the World’s Islamic Economy and Finance. Based on this vision, the government must provide and facilitate…

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Abstract

Purpose

The Indonesian Government has a vision to make Indonesia the center of the World’s Islamic Economy and Finance. Based on this vision, the government must provide and facilitate all economic and financial activities with the Islamic system, including BPJS Ketenagakerjaan. This study aims to explore the factors determining the intention to use Islamic services in the BPJS Ketenagakerjaan program.

Design/methodology/approach

The researcher adopted an interpretive philosophy with a phenomenological approach to investigate the life experiences of informants. The determination of informants using the purposive method with 10 interviewees from nine companies representing companies in Jember, Pasuruan and Sidoarjo Branch, East Java province, Indonesia. This study used an in-depth interview method with a semi-structured interview approach to collect the data.

Findings

Variables of Islamic values, Islamic financial literacy (IFL), Islamic religiosity and internal and external factors influence the participants’ intention to use Sharia services of BPJS Ketenagakerjaan programs. Islamic values are measured by blessing and justice, and the measurement of IFL uses knowledge. Religiosity is related to the measurement of Godly values that exist in individuals. Meanwhile, researchers found internal factors related to the measurement of service quality, program benefits, choice flexibility of investment-based programs and external factors using subjective norm measurement, namely, the influence of companies and friends. The theory of Islamic reasoned action (TIRA) and the indicators of each variable are successfully created by researchers from a combination of TRA concepts and findings in the field.

Practical implications

BPJS Ketenagakerjaan institution can implement TIRA as a basis for expanding research across all of its branch offices in Indonesia to obtain national data related to participants’ intentions in using Islamic services so that service provision can be realized immediately.

Originality/value

This research is a pioneer in exploring the plan to implement the Islamic service of BPJS Ketenagakerjaan in Indonesia and success in creating the TIRA, a new approach to examining the determinants of intention to choose or use goods and services provided by companies with an Islamic concept.

Details

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

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Article
Publication date: 29 November 2023

Novi Puspitasari, Iman Harymawan and Norazlin Ab Aziz

This study aims to analyze the relationship between Islamic governance (IG) and leverage and examine the interaction of corporate social responsibility disclosure (CSRD) in the…

306

Abstract

Purpose

This study aims to analyze the relationship between Islamic governance (IG) and leverage and examine the interaction of corporate social responsibility disclosure (CSRD) in the relationship between IG and leverage.

Design/methodology/approach

This study used 444 observational data comprising Asian, European and African Islamic banks (IBs) and analyzed using the regression analysis method to answer the research hypothesis.

Findings

This study finds that IG had a significant positive effect on leverage, indicating that it can increase the leverage of IBs. In other words, IG boosts the public confidence to entrust their funds to IBs through current accounts and savings. However, this study shows that CSRD weakens the relationship between IG and leverage. In addition, this study includes the control variables of board size, Islamic supervisory board size and company size, where all three variables showed their effect on leverage. These results were obtained through additional analysis by categorizing our sample based on CSRD.

Research limitations/implications

The results of this study show that IG significantly positively affects IB leverage globally. This can be used as a basis for policymakers to include the ICG variable in analyzing IBs leverage. The weakness of this study is the use of IG variables based on disclosure so that IG components that affect leverage cannot be analyzed accurately. Future research can use the IG variable by using specific IG component values such as the number of meetings, member attendance and remuneration of SSB members in analyzing IB leverage globally.

Originality/value

To the best of the authors’ knowledge, this research is the first study to discuss the interaction of CSRD with IG on leverage in Islamic banking in Asia, Europe and Africa, thus adding to the existing literature on Islamic banking.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 6
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 13 June 2016

Anna Che Azmi, Norazlin Ab Aziz, Normawati Non and Rusnah Muhamad

This paper aims to examine the reasons behind the low level of Sharia-related disclosures, particularly Sharia-compliant companies, to gain an understanding on how these companies…

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Abstract

Purpose

This paper aims to examine the reasons behind the low level of Sharia-related disclosures, particularly Sharia-compliant companies, to gain an understanding on how these companies disclose Sharia-related information in their annual reports, and how professional users of these reports search for such disclosures.

Design/methodology/approach

The study is an exploratory research based on structured interviews with individuals involved in the preparation of annual reports of Sharia-compliant companies and professional users of annual reports.

Findings

Most Sharia-compliant companies and professional users interviewed agree that the most relevant Sharia-related information is most commonly understood as the information found in the financial statement and its notes (accounting-related disclosures). Their responses indicate that there is a disjoint between the conventional disclosure practices on corporate social responsibility items and the Sharia-related information.

Research limitations/implications

The idea of full disclosure needs to be further understood from the perspectives of Sharia. This study provides insights into the types of Sharia-related information that are important for disclosure. Future research should focus on examining a larger number of companies and interviewing more professional users from different jurisdictions to generate more knowledge about the nature of Sharia information and its disclosure.

Practical implications

Users of the Sharia screening methods, especially regulators, such as the Securities Commission Malaysia should encourage the disclosure of the required aspects of Sharia in the annual reports of Sharia-compliant companies, as professional users are interested in this type of information.

Originality/value

This study offers insights into the reasons behind low Sharia disclosures in annual reports of Sharia-compliant companies.

Details

Journal of Islamic Accounting and Business Research, vol. 7 no. 3
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 19 June 2017

Anna Azmi, Normawati Non and Norazlin Ab Aziz

This paper aims to examine the challenges of applying Shariah law in the equity market by engaging in narratives with Shariah screeners and advisors on how they conduct their…

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Abstract

Purpose

This paper aims to examine the challenges of applying Shariah law in the equity market by engaging in narratives with Shariah screeners and advisors on how they conduct their screening responsibilities despite the low levels of Islamic-related disclosure made by companies in their annual reports. The Shariah screening processes in three countries with different Islamic equity markets – Malaysia, Saudi Arabia and the United Kingdom – are examined.

Design/methodology/approach

The authors interview 19 Shariah screeners and advisors in three different Islamic equity markets – Malaysia, Saudi Arabia and the United Kingdom.

Findings

Overall, the findings in this study show that despite the differences in the regulatory environment, companies still make Islamic-related disclosures on a voluntary basis. However, the lack of Islamic-related disclosures presents various challenges for Shariah screeners, particularly when identifying the operations that constitute the main activity of the company in screening for prohibited activities.

Research limitations/implications

Shariah screeners can play an important role in increasing the level of understanding and perhaps increasing Islamic-related disclosures in annual reports by establishing a set of effective guidelines or practices for Shariah screeners to use when screening companies for their Shariah-compliant status.

Originality/value

The paper identifies a gap in the Shariah screening literature and voluntary Islamic disclosures literature. By identifying this gap, the paper highlights the challenges Shariah screeners and advisors face because of the low level of Islamic-related disclosures.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 10 no. 2
Type: Research Article
ISSN: 1753-8394

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