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Available. Open Access. Open Access
Article
Publication date: 16 November 2021

Taufik Akbar and A.K. Siti-Nabiha

This study investigates both internal and external stakeholders' views on the objectives and measures of performance of Indonesian Islamic microfinance banks (IMFBs).

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Abstract

Purpose

This study investigates both internal and external stakeholders' views on the objectives and measures of performance of Indonesian Islamic microfinance banks (IMFBs).

Design/methodology/approach

This study uses a qualitative approach. In-depth interviews were conducted with a wide range of internal and external stakeholders of IMFBs in Indonesia. The primary stakeholders interviewed comprised the board of directors of IMFBs located in several provinces in Indonesia, including rural and urban areas. The external stakeholders were the regulators/supervisors, represented by the Indonesian Financial Services Authority and Sharīʿah advisors of the National Sharīʿah Board as well as Muslim scholars. The data were analysed using CAQDAS, a computer-assisted tool for qualitative analysis.

Findings

The objectives of the IMFBs are seen to represent more than profits or economic well-being. Their objectives also comprise spirituality and daʿwah (Islamic propagation). Daʿwah is conducted through the provision of funding and services that are aligned with Sharīʿah (Islamic law), the dissemination of information about Islamic financing, which is based on Islamic values and principles, and the payment of zakat (Islamic alms) and charitable contributions. The measures of performance are considered to be more holistic than those of conventional banks. Profit and growth are deemed important as the means to achieve social well-being objectives.

Research limitations/implications

Better insights into the objectives and measures of IMFBs could be achieved from interviews with other stakeholder categories, such as customers and the community. This could be the focus of future research.

Originality/value

This study added a new discussion to the limited empirical literature on IMFBs by investigating the views of stakeholders on the objectives and performance of IMFBs in Indonesia.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

Available. Open Access. Open Access
Article
Publication date: 5 September 2022

Beebee Salma Sairally

243

Abstract

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 2
Type: Research Article
ISSN: 0128-1976

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Article
Publication date: 11 November 2024

Muhammad Taufik and Gun Gun Budiarsyah

This study compares the profitability of sharia-compliant firms (SCFs) and non-sharia-compliant firms (NSCFs) and explores the causal links among board of directors (BODs…

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Abstract

Purpose

This study compares the profitability of sharia-compliant firms (SCFs) and non-sharia-compliant firms (NSCFs) and explores the causal links among board of directors (BODs) characteristics (size, gender, meeting frequency, tenure, turnover and compensation), sharia compliance, capital structure and profitability. Specifically, sharia compliance and capital structure serve as moderators.

Design/methodology/approach

A total of 72 SCFs and 65 NSCFs were investigated during 2011–2019, resulting in 1,644 data. A t-test was used to compare profitability, and causal relationships were explored through panel data regression.

Findings

SCFs outperform NSCFs in profitability in 24 of 36 t-tests. Surprisingly, 87 out of 864 instances of sharia violations were found in SCFs. Despite purifying sharia-compliant stocks from violations, the board negatively affected sharia compliance. Furthermore, sharia compliance contradicts the board’s tendency to increase profitability, implying a ceremonial screening, which reveals the board’s reluctance to incorporate sharia compliance into their management style. In contrast, boards in NSCFs rely more on their internal strengths and capacities to influence profitability, as they understand the adverse impact of debt.

Practical implications

The findings of this study are beneficial for evaluating Islamic loopholes for both boards that are apathetic to sharia compliance and regulators who are not transparent in Islamic financial screening.

Originality/value

Academic literature concentrates on comparing Islamic banks with conventional banks, while the comparison of corporate governance and management styles in SCF vs. NSCF is minimal. Additionally, a novel measurement, the Stapel scale, is proposed for finding the purity of Islamic stocks, which is most suitable when regulators and firms conduct Islamic loopholes.

Details

Asian Review of Accounting, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1321-7348

Keywords

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Article
Publication date: 13 September 2022

Iwan Iwut Tritoasmoro, Udisubakti Ciptomulyono, Wawan Dhewanto and Tatang Akhmad Taufik

This paper aims to investigate the effect of business incubation metrics based on an adaptation of the lean start-up (LS) framework on start-up survival after incubation. This…

838

Abstract

Purpose

This paper aims to investigate the effect of business incubation metrics based on an adaptation of the lean start-up (LS) framework on start-up survival after incubation. This study also analyzes the obstacles in implementing the LS framework as incubation metrics.

Design/methodology/approach

This study uses mixed methods. Quantitative research using multiple linear regression was applied to the data of 30 start-ups incubated at Bandung Techno Park for the 2014–2017 period and survival tracking data after the incubation. A qualitative approach to complete the explanatory work was conducted through in-depth interviews with 12 respondents, including start-up graduates from the incubation program, program managers and mentors.

Findings

This study confirms that several LS incubation metrics significantly affect start-up sustainability after incubation. In addition, this study also explains several problems in applying the LS discipline that needs attention to increase incubation success.

Research limitations/implications

Research was conducted only at one technology business incubator (TBI) model that focuses on digital start-ups in the emerging ecosystem. Research results can be biased in different situations and ecosystems.

Practical implications

The explanation of the relationship of LS-based incubation metrics to the survival of start-ups, as well as the challenges of their implementation, can be a reference for TBI management to consider and prioritize intervention strategies, thereby improving TBI’s business processes and increasing the success rate of incubated start-ups.

Social implications

The creation of university start-ups and spin-offs has become a key performance indicator mandatory for technology universities in Indonesia. The existence of TBI institutions in universities as channels of technology commercialization is essential. The incubator’s success in creating a new technology-based company will have a significant social impact on the surrounding environment.

Originality/value

Although the LS method is popular in start-up communities and among practitioners, it is rarely used in the incubation process at universities. These results can be considered for university TBIs to explore LS as an incubation management tool to increase the success rate of incubated start-ups.

Details

Journal of Science and Technology Policy Management, vol. 15 no. 1
Type: Research Article
ISSN: 2053-4620

Keywords

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Article
Publication date: 27 September 2022

Hendi Yogi Prabowo

The primary purpose of this exploratory paper is to propose a novel analytical framework for examining corruption from a behavioral perspective by highlighting multiple issues…

294

Abstract

Purpose

The primary purpose of this exploratory paper is to propose a novel analytical framework for examining corruption from a behavioral perspective by highlighting multiple issues associated with quantification culture.

Design/methodology/approach

This paper is part of the author’s exploratory study into the complex corruption phenomenon in Indonesia from a variety of viewpoints to obtain a better understanding of its nature and dynamics. By building on previous literature on quantification culture, audit culture and the corruption phenomenon, this paper explores the different issues related to overreliance on numbers and how they may have led to increased corruption, particularly in Indonesia. Using the Fraud Decision Scale framework, this paper also demonstrates how the quantification culture affects the cost-benefit analysis of corruption offenders. To develop the best anticorruption strategy and lay the groundwork for future anticorruption studies, this paper presents a fresh perspective on how to analyze and evaluate the corruption issue.

Findings

The author established that despite the benefits that quantification practices – such as indicators, scores, ratings and rankings – bring to societies and organizations, there is evidence that these practices can have unfavorable effects when used excessively or incorrectly. One of the adverse effects of quantification practices is over-quantification, which manifests as various inappropriate behaviors, including an excessive desire to acquire riches and material belongings. Additionally, the worship of ranks and status derived from quantitative evaluation processes has led many people to prioritize short-term objectives above long-term improvements. Eventually, these will cause organizations to lose productivity and make them susceptible to fraud and corruption. Future studies are needed to determine the most effective approach for mitigating over-quantification issues. In this exploratory paper, the author proposes balancing quantitative practices with qualitative knowledge to gradually alter people’s behavior by broadening their perspectives in perceiving various phenomena in the world, not only by describing and explaining them but also by comprehending their underlying meanings.

Research limitations/implications

This exploratory study is self-funded and relies primarily on documentary analysis to explore the corruption phenomenon in Indonesia. Future studies will benefit from in-depth interviews with former corruption offenders and investigators.

Practical implications

This exploratory paper contributes to the development of a sound corruption prevention approach by presenting a novel analytical framework for examining various behavioral problems linked with quantification culture that may lead to the escalation of corruption.

Originality/value

This study emphasizes the significance of understanding the structure and dynamics of quantification culture and their negative behavioral impacts on people to comprehend the corruption phenomenon better.

Details

Journal of Financial Crime, vol. 30 no. 6
Type: Research Article
ISSN: 1359-0790

Keywords

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Article
Publication date: 12 February 2025

Md. Mohidul Islam, Md. Aminul Islam, Md. Sharif Hassan and Rula AlHalaseh

This study aims to assess the effectiveness of the Shari’ah supervisory board (SSB) and its impact on risk-taking in the presence of a strong and effective board of directors…

12

Abstract

Purpose

This study aims to assess the effectiveness of the Shari’ah supervisory board (SSB) and its impact on risk-taking in the presence of a strong and effective board of directors (BoD) among Islamic financial institutions (IFIs) in Bangladesh.

Design/methodology/approach

This study is conducted as a sample and extracted data from bank annual reports of 16 IFIs in Bangladesh from 2011 to 2020. To overcome the endogeneity, the research has applied the two-step systems generalized method of moments model with Arellano−Bover and Blundell−Bond estimators.

Findings

The results indicated that the indices of BoD and SSB negatively influence each other’s credit risk, particularly in the Southeast Asian context, focusing on IFIs in Bangladesh. In addition, the SSB mediated risk-taking positively when coupled with a strong BoD.

Practical implications

This paper emphasizes how the multiple board systems and their impact on risk-taking make the unique governance structure. Risk-sharing, avoiding fixed-up interest rates and ethical investing are controlled by the dual board’s contributions to financial stability. SSB contributes significantly to improve the regulatory coordination and product innovation in the global financial system to combat unethical profits from society.

Originality/value

This study contributes to the literature gap of the dual board’s role of governance. It is believed to be one of the first studies that provide empirical evidence and theories on SSB’s mediating role in the context of socio-economic, cultural and policy with other similar contexts of subcontinent particularly in Bangladeshi’s IFIs.

Details

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

Keywords

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Article
Publication date: 30 October 2023

Maria Raimondo, Daniela Spina, Manal Hamam, Mario D'Amico and Francesco Caracciolo

This study empirically explores the factors that influence consumers’ readiness toward engagement in circular food consumption.

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Abstract

Purpose

This study empirically explores the factors that influence consumers’ readiness toward engagement in circular food consumption.

Design/methodology/approach

A conceptual model based on the motivation–opportunity–ability (MOA) framework was developed. In addition to all the classical relationships in this theoretical framework, respondents' age and education were added to the model. An online survey was conducted, resulting in an overall sample of 411 Italian participants. Data were statistically analyzed by using partial least squares structural equation modeling (PLS-SEM).

Findings

The results indicated that motivation, opportunity and ability had positive effects on consumers’ readiness toward engagement in circular food consumption (CFC). Of all the constructs, intrinsic motivation had the most significant impact on consumers’ readiness toward engagement in CFC. The results also showed that sociodemographic traits—particularly age and gender—significantly influenced consumer readiness toward engagement in CFC. Practical and policy implications are proposed based on the study findings.

Originality/value

The study analyzes factors influencing consumers' readiness to engage in CFC. While great attention has been paid toward circular economy (CE) implementation in food consumption, empirical evidences on how to prompt the consumers' readiness toward CFC are still lacking. More specifically, the authors explore for the first time, sociopsychological factors affecting consumers' readiness to reduce, reuse and recycle technical components of food products, using the MOA theory as conceptual model.

Details

British Food Journal, vol. 126 no. 2
Type: Research Article
ISSN: 0007-070X

Keywords

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Article
Publication date: 30 September 2024

Muhammad Fazlurrahman Syarif and Ahmet Faruk Aysan

This study aims to understand the practices and rules of Sharia crowdfunding policies in Indonesia given the rapid growth of financial technology and the increasing importance of…

116

Abstract

Purpose

This study aims to understand the practices and rules of Sharia crowdfunding policies in Indonesia given the rapid growth of financial technology and the increasing importance of crowdfunding as a funding alternative for micro, small, and medium enterprises (MSMEs).

Design/methodology/approach

This study used qualitative methods, exploratory methods and literature studies for data collection. The focus is on understanding the regulatory environment and institutional framework that support Sharia crowdfunding in Indonesia.

Findings

Despite a specific law regulating Sharia crowdfunding, several authoritative institutions in Indonesia offer FinTech, crowdfunding and Sharia crowdfunding services. Some regulations have been issued, such as Bank Indonesia Regulation Number 19/12/PBI/2017 and Financial Services Authority (OJK) Regulation Number 37/POJK.04/2018, which was later amended to Number 57/POJK.04/2020. This study emphasizes the crucial role of OJK in providing security guarantees for implementing FinTech, including crowdfunding. At the same time, Sharia crowdfunding also follows fatwas issued by DSN-MUI.

Research limitations/implications

This study describes Sharia crowdfunding policies in Indonesia and indicates that further research could delve deeper into specific cases and examine the impact of these policies on the growth and sustainability of Sharia crowdfunding.

Practical implications

This study underlines the need to enhance Sharia crowdfunding standards and to create rules that explicitly address this issue. This has implications for regulatory authorities, FinTech companies and MSMEs seeking to leverage Sharia crowdfunding.

Social implications

This study suggests potential social implications, including a more inclusive financial system that complies with Islamic principles and supports MSMEs' growth.

Originality/value

This study is unique in its focus on Sharia crowdfunding policies in Indonesia, providing a comprehensive view of the regulatory landscape and existing institutional framework.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

Keywords

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