Soheil Kazemian, Rashidah Abdul Rahman and Zuraeda Ibrahim
This study aims to evaluate the current practices conducted based on in-depth interviews with 16 Amanah Ikhtiar Malaysia (AIM) medium-level managers who were selected randomly…
Abstract
Design/methodology/approach
This study aims to evaluate the current practices conducted based on in-depth interviews with 16 Amanah Ikhtiar Malaysia (AIM) medium-level managers who were selected randomly, including branch managers and operational officers. All of the interviewees have two characteristics; they face customers directly and influence their decision-making.
Findings
Based on the findings of this study, AIM has a high level of customer orientation and inter-function coordination and a middle level in competitor orientation.
Originality/value
This paper initially presents the definition of a unique concept, namely, Islamic market orientation, which is defined based on the incorporation of Islamic concepts and market orientation by discussing the characteristics of Islamic market-oriented organisations. Then, an empirical discussion for evaluating market orientation in a microfinance provider is presented. The paper uses the synthesis of different real positions for developing discussions on whether AIM is following market orientation strategies, and, if so, at which level it is located from each dimension’s point of view.
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Constantin Gurdgiev and Barry Murphy
This chapter presents the results of the comprehensive literature survey and supportive empirical assessment of the potential impacts of the Financial Transactions Tax (FTT…
Abstract
Purpose
This chapter presents the results of the comprehensive literature survey and supportive empirical assessment of the potential impacts of the Financial Transactions Tax (FTT) recently adopted by the European Commission in response to the significant financial sector misallocations arising from the Global Financial Crisis.
Methodology/approach
A survey of 50 academic articles relating to both Financial Transaction Taxes and Tobin Taxes shows that although a reduction in liquidity can be expected from such taxes, the impacts this will have on volatility and efficiency in a market are less obvious. A regression model quantifying what the possible effect of an introduction of a 0.1% tax on financial transactions would be on trading volumes and levels of volatility in the European equity market confirms the survey results in broader terms.
Findings
The results suggest that, in the current economic climate, such a tax would likely increase volatility levels but may not have much effect on trading volumes.
Practical implications
As a result the proposed tax can be viewed as an exercise in revenue generation but not as a macro-prudential tool for addressing potential future shocks and imbalances within the European financial system. In other words, contrary to political and media statements, the FTT does not appear to be an effective tool for addressing past, present and future risks associated with systemic malfunctioning in the banking and financial systems.
Originality/value
The study presents an extensive and systematic survey of academic literature on FTT and links this survey to empirical model estimation. This twin approach to the analysis is novel to the academic and policy literature on Financial Transactions Tax. Whilst popular belief is that introduction of FTT will aid the objective of achieving greater financial and economic sustainability across the European financial systems, evidence presented in this chapter suggests that such a conclusion is at the very best naive.
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Vivek G. Nair and Leena Chatterjee
The study explores career shocks in the Indian context and examines their impact on the career development of people with MBAs.
Abstract
Purpose
The study explores career shocks in the Indian context and examines their impact on the career development of people with MBAs.
Design/methodology/approach
In-depth, semi-structured interviews with 41 Indian MBA graduates were thematically analysed to identify career shocks that resulted in different types of transitions. Eight themes were identified based on ongoing and iterative comparison of these instances.
Findings
Outcomes relating to competitive examinations that determined entry into various occupations were the first career shock experienced by participants. Geographical considerations were salient in the deliberations involving events relating to marriage, eldercare and spouse relocation. Events at the workplace that signalled uncertainty, a fall-out with one's boss or a request to relocate, prompted participants to switch employers. Some of the observed differences were gender based. While female MBA graduates adapted to handle both spousal and parental responsibilities, male MBA graduates did the same to shoulder eldercare responsibilities.
Research limitations/implications
The study's retrospective design could have led to concerns regarding memory recall. The use of open-ended questions partially mitigated this, by giving participants the freedom to recount their experiences, to the extent that they could remember.
Practical implications
Organisations in India could customise and strengthen policies to support employees who have maternity and eldercare responsibilities. Managers should make greater efforts to have open communication with their subordinates to overcome the challenges of operating in a culture with high power distance and indirect communication styles.
Originality/value
This study explored different types of career shocks and associated transitions. The Indian context, with its growing economy, large population, collectivistic culture and strong influence of family on careers, enabled a deeper examination of novel career shocks. The study also highlighted the dissimilar impact of career shocks for men and women and people at different career stages.
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B.K. Behera, S. Chowdhry and M. Sobti
Polyester filament fabrics made from microdenier and normal denier yarn are compared for their low stress mechanical properties and hand values. Effects of twisting and sizing on…
Abstract
Polyester filament fabrics made from microdenier and normal denier yarn are compared for their low stress mechanical properties and hand values. Effects of twisting and sizing on microdenier filament fabric are studied. Sizing proves to be the most important process for microdenier multifilament yarn to realise its speciality effect in the fabric made out of this yarn.
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Masrizal, Raditya Sukmana and Budi Trianto
Recently, financial inclusion promoters have observed that financial literacy is a vital tool for financial inclusion growth, especially among the poor who are considered…
Abstract
Purpose
Recently, financial inclusion promoters have observed that financial literacy is a vital tool for financial inclusion growth, especially among the poor who are considered financially illiterate. The purpose of this paper is to look at the role of Islamic financial literacy (IFL) and inclusion in improving the performance of micro, small and medium enterprises (MSMEs) in Indonesia.
Design/methodology/approach
This study uses questionnaire data collected as many as 197 MSMEs. This study was analyzed using structural equation modeling approach to test the hypothesis.
Findings
The results show that IFL is an important variable to increase Islamic financial inclusion. The results also show that both have a significant influence in developing the MSME sector business.
Research limitations/implications
This research is not without limitations. This study only adopted a sample in one Province in Indonesia with focus on creative economy sector and some others sectors located in the province of Riau, therefore ignoring suburban and urban areas in Indonesia. Therefore, future studies using a cross-sectional research design are feasible. In addition, this study only uses quantitative data, so that qualitative research with key informant interviews can be considered for further research.
Practical implications
The findings of this study enlighten policymakers, managers of financial institutions and advocates of financial literacy and inclusion about the importance of improving the performance of MSMEs. As a policy recommendation, this study suggests that Islamic policy makers and financial institutions should play a proactive role in increasing service outreach and providing the regulatory environment needed for MSMEs given the important role MSMEs play in the Indonesian economy.
Originality/value
This study combines functional components (behaviors and attitudes) and nonfunctional measures (knowledge and skills) of financial literacy and financial inclusion in explaining the performance of MSMEs. Thus, this research is an initial effort to explain financial literacy and inclusion on the performance of MSMEs.
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Krishnamurthy Sriramesh and Dejan Verčič
As a profession, public relations has become a global enterprise. Public relations education is only now beginning to catch up with the global nature of the profession. It is…
Abstract
As a profession, public relations has become a global enterprise. Public relations education is only now beginning to catch up with the global nature of the profession. It is quite widely acknowledged that as far as public relations education is concerned, the USA is the leader in the number of universities that offer public relations courses as well as in the breadth and depth of the public relations curriculum. In its October 1999 report on the status of education in the USA, the Commission on Public Relations Education constituted by the Public Relations Society of America (PRSA), called for curricula that prepared students to be effective communicators in the “age of global interdependence”. This paper argues that educators around the world are being hampered by the lack of an established body of knowledge (based on empirical evidence) about public relations practices in different parts of the world. This lack of evidence is preventing educators from preparing their students to become useful professionals who can meet the challenges of the “age of global interdependence”. The paper reviews literature identifying environmental variables that should help one understand public relations practices in different given countries. Based on this review, the paper operationalises these environmental variables as a next step towards cross‐national research. The paper also stresses the need to gather appropriate case studies in international public relations. Future researchers should be able to use this framework for conducting crossnational comparisons of public relations, thereby providing educators with the necessary empirical evidence to prepare the public relations professionals of the future.
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Mario Calderini, Veronica Chiodo and Fania Valeria Michelucci
This paper aims to develop an interpretative framework of the evolution of social impact investment (SII) in different countries. SII is a strategy of asset allocation, which…
Abstract
Purpose
This paper aims to develop an interpretative framework of the evolution of social impact investment (SII) in different countries. SII is a strategy of asset allocation, which combines financial profitability with a measurable social and environmental impact.
Design/methodology/approach
Through a thematic analysis of 75 documents, i.e. reports, experts’ considerations, reflections on practitioners’ experience, meetings’ minutes, written by the SII Taskforce of the Group of Eight and the relative National Advisory Boards, the authors identify the main themes connected to the topic of SII development and recognize four main elements useful to segment the market, namely, information asymmetry, financial instruments, source of capital and market intermediation.
Findings
They map the ongoing practices in the Group of Eight’s members and distinguish two speeds in the evolution of SII: on one hand, there is a group of roadrunners, which pave the way to SII and in which SII activities have being institutionalized; on the other hand, there is a wider group of chasers, where the SII infrastructures lack any systematization.
Originality/value
Although some authors provide preliminary interpretations of the SII evolution, they mainly focus on the national level and do not provide any cross-countries analysis. The findings of the present work contribute to overcome the lack of evidence characterizing the SII field and the absence of comparable and consistent data at the global level by filling the academic literature about SII, through a structured interpretative framework.
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Takwa Zitouni and Khoutem Ben Jedidia
Islamic microfinance is a substantial tool for poverty alleviation and economic empowerment. The paper aims at accessing the potential of Islamic microfinance for the purpose of…
Abstract
Purpose
Islamic microfinance is a substantial tool for poverty alleviation and economic empowerment. The paper aims at accessing the potential of Islamic microfinance for the purpose of achieving the economic empowerment in Tunisia.
Design/methodology/approach
A structured questionnaire survey method is used. The method is intended for some of the beneficiaries of Zitouna Tamkeen (ZT), the only Islamic microfinance institution in Tunisia. Responses are analyzed using the statistical package for the social sciences program.
Findings
The authors infer that though the Islamic and conventional microfinance have similar objectives, the methods are different. What is more, the economic empowerment requires not only financial inclusion and entrepreneurship, but also skill development. The results of the survey reveal that ZT has contributed to certain economic empowerment of most of ZT's beneficiaries. In addition, the authors bring to the fore that providing supportive infrastructure and investment is a prominent component of the economic empowerment process.
Research limitations/implications
In the paper, the sample is limited.
Practical implications
The authors have highlighted that some structural barriers to entrepreneurship – such as legal, operational and marketing challenges – need to be addressed in a practical way.
Originality/value
This paper establishes the relationship between the Islamic microfinance and economic empowerment. The current paper is the first investigation in this field in Tunisia.