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Article
Publication date: 5 October 2020

Mohsin Ali, Omair Haroon, Syed Aun R. Rizvi and Wajahat Azmi

This paper aims to examine whether competition from Islamic banks add to the financial stability and profitability of financial sector and to assess the sources of such…

493

Abstract

Purpose

This paper aims to examine whether competition from Islamic banks add to the financial stability and profitability of financial sector and to assess the sources of such (in)stability.

Design/methodology/approach

Using Herfindahl–Hirschman Index as a measure of competition and Z-score as a measure of stability, the authors run panel GMM regressions to assess their association with data from 84 banks in Indonesia and Malaysia over a period from 2005 to 2018.

Findings

Increasing competition from Islamic banks in East Asian banking industry adds to the stability of the system while it does not affect profitability. This stability is derived from both asset and liability side.

Research limitations/implications

While adding to the literature on banking and Islamic finance, this paper suggests to the policy makers that policies promoting Islamic banking will tend to assist in enhancing financial sector stability.

Practical implications

Growth in alternative financial instruments brings steadiness within the financial structure. Such growth and competition should be encouraged.

Originality/value

The paper exploits an interesting setting of dual-banking industry in two large Muslim-majority developing country for testing two competing theories: competition-fragility and competition-stability. Such a setting also allowed us to examine whether increasing stability of financial sector is driven by demand or supply.

Details

Studies in Economics and Finance, vol. 38 no. 2
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 26 February 2019

Zaheer Anwer, Wajahat Azmi and Shamsher Mohamad Ramadili Mohd

The purpose of this paper is to appraise the effectiveness of monetary policy actions in variant market conditions for Islamic stocks. These stocks offer ground for a natural…

507

Abstract

Purpose

The purpose of this paper is to appraise the effectiveness of monetary policy actions in variant market conditions for Islamic stocks. These stocks offer ground for a natural experiment as they have restrictions on the line of business and their distinguished capital structure does not allow them to combat the liquidity crisis through the use of leverage.

Design/methodology/approach

The paper uses the quantile regression approach for a multi-country sample of Islamic stock indices to assess the impact of domestic as well as US expansionary monetary policy on stock returns of Islamic indices at various locations of distribution of returns.

Findings

It is found that, at lower return levels, an expansionary monetary policy has a negative effect on the returns. In other cases, there is no significant impact of policy rate change on index returns.

Research limitations/implications

It is more appropriate to use firm level data of Islamic stocks instead of stock indices. However, the information regarding index constituents is not publicly available.

Practical implications

The paper offers useful information to investors and policy makers. It shows that central banks should improve their credibility for monetary policy to be effective and their policies must be designed keeping in view the strong impact of US rate on global monetary environment.

Originality/value

This paper provides first empirical evidence of the impact of discount rates on the returns of Islamic stocks in different market conditions.

Details

International Journal of Emerging Markets, vol. 14 no. 4
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 10 February 2023

Roslina Mohamad Shafi and Yan-Ling Tan

This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.

675

Abstract

Purpose

This study aims to explore the evolution of the Islamic capital market (ICM) from the perspective of research publications.

Design/methodology/approach

A bibliometric analysis was applied based on selected publications from the Web of Science Core Collection (WoSCC) database from 2000 to 2021. The study adopted VOSviewer software which was developed by Leiden University.

Findings

This study has some implications that need urgent action. Firstly, there are some areas that have received little attention among researchers, although they are relevant to the industry, for instance, in fintech and blockchain in ICM. Secondly, the inconsistent frequency of publications in some niche areas may suggest that there are unprecedented events that hinder further research; probably, the researcher may anticipate more information and progress in the industry. Thirdly, the need to strengthen the collaboration between industry and academia to advance research.

Research limitations/implications

This study considered only the WoSCC database. The provider of WoSCC is Clarivate (formerly known as Thomson Reuters), where access to publications is limited to institutional subscribers. The implications of this study are to identify and propose future research trends in the field of ICM.

Originality/value

To the best of the authors’ knowledge, the present study is among the pioneer studies in analysing bibliometric focusing on ICM. Previous research has focused on Islamic finance and banking, and not specifically on ICM. Accordingly, this study sheds light on research gaps in ICM.

Details

Journal of Islamic Accounting and Business Research, vol. 14 no. 8
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 14 February 2023

Yi Tong Kum, Jeffrey Boon Hui Yap, Yoke-Lian Lew and Wah Peng Lee

This study aims to investigate technology-based health and safety (H&S) management to control the spread of disease on construction sites using a partial least squares structural…

570

Abstract

Purpose

This study aims to investigate technology-based health and safety (H&S) management to control the spread of disease on construction sites using a partial least squares structural equation modelling (PLS-SEM) approach.

Design/methodology/approach

An extensive literature review is conducted to develop a conceptual framework. The variables identified from the literature review are included in a cross-sectional survey which gathered a total of 203 valid feedback. The variables for challenges are grouped under their relevant construct using exploratory factor analysis. Then, a hypothesized model is developed for PLS-SEM analysis using Smart PLS software. Later, the outcome of the model is further validated by nine construction experts using a semi-structured questionnaire survey.

Findings

The results rationalized the relationships between the COVID-19 H&S measures, challenges in implementing COVID-19 H&S measures on construction sites and the innovative technologies in transforming construction H&S management during the COVID-19 pandemic. The possible challenges that obstruct the implementation of H&S measures are highlighted. The potential technologies which can significantly transform H&S management by reducing the impact of challenges are presented.

Practical implications

The findings benefited the industry practitioners who are suffering disruption in construction operations due to the pneumonic plague.

Originality/value

By developing a conceptual model, this study reveals the contribution of technology-based H&S management for construction projects during the COVID-19 pandemic, which remains under-studied, especially in the context of the developing world.

Details

Engineering, Construction and Architectural Management, vol. 31 no. 7
Type: Research Article
ISSN: 0969-9988

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