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This research study focusses on the succession challenges in small-medium outboard marine businesses of Malaysian Chinese family ownership. The founder-owners face challenges in convincing the next-generation members to establish their careers within the family business and to ensure successions are in place to safeguard the family's wealth. A gap exists in the research literatures concerning such family business owners; and their experiences would provide valuable information to other Malaysian Chinese family businesses planning to start the succession journey.

An exploratory case study methodology to research five Malaysian Chinese family businesses cases in Klang Valley, Selangor, Malaysia, is used in this study. The primary qualitative data were obtained through in-depth, semi-structured interviews and observations. The research data lead to the identification of the following themes: generational change affects the survival of small-medium Malaysian Chinese family-owned businesses; the founder-owners' intention and desire for business to pass to the next generation give rise to the imperative of succession; the founder-owners' motive and goals, family context and the business nature would determine a large part to how the succession plans are carried out and the upbringing, expectation and obligations would determine how the next generations of children would view the prospect of taking over the family business. From this, a succession model that detailed an inclusive approach to succession planning process between the two generations is established.

A small purposive sample is included, and it is recommended that a larger and more diverse sample be collected in future studies. This study follows a nuclear family structure of parents and children. If more Chinese family businesses are selected based on a wider set of family members such as uncles and cousins, the findings may differ.

This research study could also facilitate other Malaysian family businesses to rethink and refocus on the importance of undertaking an inclusive approach to succession planning and also help potential next-generation successors in understanding and working towards attaining the qualities that family firms look for in future leaders.

The researcher summarizes the study findings into a management succession model. An inclusive succession approach is needed to overcome these challenges and would enable sustainability, continuity and longevity of the family business. This would help the family business to understand that succession is not a single event but a process that needs to be planned together with the next-generation family members over a certain period of time.

Much has been written about the importance of external integration for the integrity of food products. To achieve food integrity, all actors along the supply chain have to be fully integrated and comply with an assurance system or process. The more complex the supply chain operations are, the greater will be the need for integration. This research paper investigates the impact of external integration on compliance with halal standards, as an example of product integrity within the food industry.

A survey of 1,000 food manufacturers was conducted. Partial least squares structural equation modelling was used to test the effect of external integration on compliance with halal standards.

The results showed that there were links between halal assurance system and external integration. Nevertheless, it was discovered that only customer integration mediated the relationship between the halal assurance system and product quality and production cost.

The practical implications of the findings extend to managers in the food industry who might pursue supply chain integration as a structure to achieve excellence. The findings suggested that the deployment of a halal assurance system has a positive effect on operational performance. Furthermore, the results show that managers who wish to implement the halal assurance system should carefully invest in an external integration strategy, depending upon the operational performance improvement intended.

This research is one of the first studies to investigate the effects of external integration on halal food in general and is the first empirical investigation of the effect of safeguarding halal integrity on operational performance.

The authors empirically investigate the impact of the existence of a stand-alone risk committee (RC) and its characteristics on the likelihood of stock price crash risk in listed financial firms on the Bursa Malaysia. The authors also test whether the effect of RC on crash risk is attenuating or amplifying by the level of institutional ownership.

The authors use a principal components analysis (PCA) to aggregate and derive a factor score for risk committee characteristics (i.e. independence, qualification, and size) as a proxy for the effectiveness of RC. The study also employs two distinct stock price crash risk measurements to corroborate the findings and partition institutional ownership into dedicated and transient to examine the potential impact of institutional shareholding on RC-stock price crash risk association.

Regression analysis reveals that only RC qualification has a significant negative impact on stock price crash risk. However, when RC characteristics are aggregated into one composite factor, the authors find that firms with effective RCs exhibit lower risk of stock price crash. The authors also find that firms with high level of institutional shareholdings and effective RCs are less likely to experience crash risk likelihood. The additional analyses indicate that the complementary moderating effect of institutional ownership on RC-crash risk nexus is likely to be driven by dedicated institutional ownership. The results are robust across two measures of stock price crash risk and regression specifications for a longer run window.

The study, to the best of the researchers' knowledge, is the first to provide evidence in an emerging market financial sector companies' perspective suggesting that effective RCs are individually and aggregately associated with lower stock price crash risk, which is further strengthened by dedicated institutional investors. These findings are unique and contribute to a small but growing body of literature documenting the need for effective RCs and specific institutional investors and their consequences of improvements in stock price crash risk environment. Results of our research in this area provide important insights to financial and capital market participants, investors, regulators, and policymakers in Malaysia.

This study explores the impact of religiosity on self-esteem and mortality salience, subsequently influencing Indonesia’s Islamic banking consumers’ social responsibility (CnSR).

In total, 613 participants, Indonesia’s Islamic bank consumers, were recruited, and structural equation modelling (SEM) was used to examine research frameworks.

The empirical findings show that religiosity levels have a significant effect on self-esteem and mortality salience. Furthermore, mortality salience is less influential on CnSR than self-esteem. Furthermore, self-esteem and mortality salience partially bridge the relationship between religiosity and CnSR.

Future studies need to examine the correlation between religiosity and CnSR in other contexts and theories, such as conventional banks and companies across the globe, to provide comprehensive insights into the mindset and actions of CnSR.

The recent study clarified the primary operations of Islamic bank customers in the context of business, religion and CnSR. Hence, increasing attention to customers’ social responsibility and religiosity is required from both the government and the Shariah Supervisory Board.

The result of the current study contributes to extending knowledge on terror management theory (TMT). In addition, it creates a fresh perspective on the factors affecting customers’ decision-making.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-02-2024-0105

This paper aims to examine the stock market reactions of firms and industries in Malaysia to the government’s COVID-19 movement control order (MCO) announcement. As China is Malaysia’s leading trading partner, the authors also observe if the Chinese Government’s confirmation of human-to-human coronavirus transmission affects firms’ stock market reactions. In addition, this study examines whether the Malaysian Government’s ease of restrictions on economic activities affects firms’ stock market reactions. Finally, this study analyses the effect of COVID-19 number of confirmed cases on firms’ abnormal returns.

This study uses an event study methodology to determine the abnormal returns between day −30 to day 30 of the announcements. In addition, this study uses the regression estimation to determine whether the COVID-19 number of confirmed cases explain the abnormal returns.

This study finds that investors react negatively to the announcement of the MCO and confirmation of the human-to-human transmission of coronavirus over the event windows. However, the cumulative average abnormal returns (CAARs) started to recover when stimulus packages were introduced, and the lockdown measures were eased, allowing businesses to reopen. This study also finds that only firms in the health-care sector reported significant positive CAARs. Stock returns of the utilities and telecommunication firms showed no changes, while eight other sectors fell remarkably. The results also show that the COVID-19 number of confirmed cases adversely affects firms’ abnormal returns.

This study suggests that stock prices incorporate bad and good news surrounding the announcements of major international and local events related to the COVID-19 pandemic. Thus, investors should consider such factors in making investment decisions.

To the best of the authors’ knowledge, this paper is one of the early research works investigating the stock market reactions to the COVID-19 major announcements (MCO, human-to-human transmission and ease of restrictions on economic activities) using an event study methodology in an emerging market, namely, Malaysia. This study is timely in light of the recently increasing calls for researchers to analyse the potential economic impacts of COVID-19 on global capital markets, especially in emerging markets whose evidence is scarce.

The purpose of this paper is to investigate the role of Islamic beliefs in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance. Second, it investigates the role of Islamic beliefs in moderating the relationship between the attitude toward conventional/Islamic life insurance and purchase intentions of these types of services.

A questionnaire was administered online in a Muslim liberal country where both types of insurance are offered. Based on a total sample of 207 responses, ANOVA tests and a structural Equation Modeling were used to test the research hypotheses.

Results show that: the higher (lower) the Islamic beliefs of individuals, the less (more) favorable their attitude will be toward conventional life insurance and the more (less) favorable their attitude will be toward Islamic life insurance; the higher (lower) the Islamic beliefs of individuals, the weaker (stronger) their purchase intentions for conventional life insurance will be and the stronger (weaker) their purchase intentions for Islamic life insurance will be; and Islamic beliefs moderate the relationships between attitudes and purchase intentions of life insurance.

Because they play a significant role in moderating consumers’ attitudes and purchase intentions of conventional and Islamic life insurance, Islamic beliefs can be used as a meaningful criterion to segment the life insurance markets in (less conservative) Muslim countries. This would help insurance companies to better target their services. In a case where two segments coexist (i.e. individuals scoring low on Islamic beliefs vs individuals scoring high on Islamic beliefs), insurers should weigh different strategic options by targeting one of the two segments or both of them. Perhaps the main issue occurs when an insurer attempts to target both segments. In this case, managers should be aware of the confusion that they might create in the mind of their clients (or potential clients). Concurrently offering two types of life insurance (conventional and Islamic) may put the insurers’ credibility at stake.

Earlier studies report that in Muslim countries, the demand for life insurance is weak or negatively correlated with religion. The majority of these studies consider religion as a macro indicator (i.e. at the country level) when explaining the demand for such services. The present study further clarifies the nature of the relationship between religion and the demand for life insurance by: examining the role of Islamic beliefs (as one of the main dimensions of Muslims’ religiosity) at the micro level (i.e. at the consumer level); and investigating the moderating role of Islamic beliefs in explaining attitudes and purchase intentions of conventional and Islamic life insurance in a less conservative Muslim country.

This paper aims to test the main factors that affect cash waqf collection among the employees of Islamic banking institutions (IBIs) in Malaysia.

The data was gathered using a survey method from 218 employees of IBIs in Malaysia. The obtained data was analyzed using the Statistical Package for the Social Sciences software and smart partial least squares-structural equation modeling to verify the hypothesis and reach conclusions.

The results revealed that word of mouth and trust have significant positive impacts on cash waqf collection. The outcomes also confirmed that convenience and accessibility to cash waqf play significant roles in affecting cash waqf collection.

Based on the researchers’ knowledge, there are only a few studies which focused on measuring the driver of cash waqf collection from the employees’ perspective, particularly in the Malaysian context. This study specifically applies the theory of reasoned action to determine employees’ attitudes toward cash waqf fund collections in IBIs in Malaysia. Having an understanding of the factors that influence employees to contribute to cash waqf would better equip IBIs in managing their cash waqf contributions and in designing their marketing and branding strategies for promoting their institutions.

This paper aims to investigate the behaviour determinants towards cash waqf for productive purposes between two different classes of Muslims: the upper-middle class and the lower-middle class.

Under the Theory of Planned Behavior framework, this study modified previous literature to investigate the determinants of two Muslim classes’ behaviour towards cash waqf for productive purposes. A structural equation model was applied to test the hypothesis, and an in-depth interview was conducted to explain the findings further.

The behaviour of participating in cash waqf for productive purposes differs between the two Muslim segments. Upper-middle-class Muslims’ intentions will not necessarily consider subjective norms, even though they will consider religiosity as their deciding factor. Meanwhile, this study found different results on the influence of attitude, religiosity and subjective norms to intention in the lower-middle-income group. Other attributes such as perceived behaviour control, knowledge, trust and perceived benefits show positive and significant effects on the intention for both income classes of Muslims.

The current findings may not accurately reflect ideal conditions due to the low level of waqf literacy and actual participation of Muslims in cash waqf for productive purposes. Researchers can conduct further studies based on other criteria, such as gender, age, education level or area of residence, using experimental or simulation methods to complement the research.

This study’s findings can support policymakers and related waqf stakeholders to set strategies for cash waqf literacy and participation by providing more detailed information about the differences in Muslims characteristics based on the income classes.

This study specifically modifies the behavioural framework to investigate differences in the behaviour of two classes of Muslims towards their participation in cash waqf for productive purposes in Indonesia.

This paper aims to analyze the role of waqf in the socio-economic development of the organization of the Islamic Cooperation (OIC) countries. Various projects currently use waqf as an instrument for socio-economic development, as reported in the scholarly literature. This study will investigate this literature to explore trends in waqf studies and the role of this Islamic form of endowment in the socio-economic development of OIC countries.

This systematic literature review focuses on peer-reviewed journals and data obtained from the Mendeley database using specific criteria to analyze the socio-economic developmental role of waqf in OIC countries from 2011‐2020.

The socio-economic developmental role of waqf in OIC countries has been widely studied. In total, 68 academic articles were found that are relevant to themes of poverty alleviation, social welfare, entrepreneurship, education, health services and religious facilities. They reveal that the role of waqf in social welfare was the most discussed topic in the research. In addition, the majority of studies used an interview method to study waqf institutions in nine OIC countries. Furthermore, the number of publications on the theme has increased significantly every year, although the largest proportion occurred in unindexed journals.

This study provides an overview of research trends in the socio-economic developmental role of waqf. Its results can provide practical input for waqf institutions as they encourage its practice in OIC countries, and for policymakers in formulating their management strategies to promote the role of waqf in the social and economic aspects of society.

This paper reviews the current development of the socio-economic role of waqf in OIC countries. It will help researchers improve their understanding of this role. It will also provide waqf managers in OIC countries with adequate information on waqf projects which they can implement to achieve socio-economic development in their countries.

The purpose of this study is two-fold: classifying non-Muslim halal fashion buyers by applying quantitative techniques and identifying the persuading determinants of the non-Muslim women’ halal fashion buying behaviour (HFBB).

By adapting items from prior studies, a structured questionnaire was developed and distributed face-to-face to various Muslim fashion stores in Malaysia. After a one-month effort, 221 responses were obtained from non-Muslim consumers by using convenience sampling. Next, a clustering analysis was used to classify them from a contrasting perspective. Finally, regression and Andrew F. Hayes’s process procedures were applied to examine the three independent variables’ effect and the moderating variables.

The results revealed the characteristic behaviour of the non-Muslim women explicitly, which is related to their halal fashion purchasing decision. Based on the ANOVA results, there were different motives for buying halal fashion by non-Muslim women. Additionally, it was found that the most crucial determinants for non-Muslim’s HFBB are “cultural adaptation”, albeit, there is no substantial proof of a significant moderating effect of age and income on the consumers.

These discoveries are advantageous for halal fashion retailers and provide an appealing domain for further investigations in the context of the global halal study.

This study provided an idea for an untapped segment on the halal fashion sellers’ segmentation and positioning strategy. The study’s results suggested specific managerial and practical recommendation that the sellers can use to attract non-Muslim consumers.

This study was amongst the uncommon investigations within the halal fashion context that will enlighten the managers’ selling strategy on the most neglected market segment. The results of this study provided an empirical understanding of how to sell halal fashion to non-Muslim consumers.