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Article
Publication date: 25 April 2022

Waqar Haider Hashmi, Nazima Ellahi, Saima Ehsan and Ajmal Waheed

The purpose of this study is to highlight key issues pertaining to making use of Islamic equity indices and proposing possible solutions to address the problems faced in…

326

Abstract

Purpose

The purpose of this study is to highlight key issues pertaining to making use of Islamic equity indices and proposing possible solutions to address the problems faced in advancement of the concept of Shariah investing (SI) with the aim to advance the discourse on the subject.

Design/methodology/approach

Online focus group discussion (FGD) was carried out in which ten Islamic finance researchers and analysts belonging to institutions considered as authority on the subject matter participated to share their viewpoints on Islamic equity indices. Content analysis on the collected data of FGD was carried out which has revealed six key themes.

Findings

Six broader themes were identified based on the analysis of FGD, which includes criteria for constructing Islamic equity indices, utilization of Islamic equity indices for comparison with conventional stock indices, stock market efficiency perspectives, reason for integration of different equity markets, investors’ awareness of SI and future directions of Islamic equity indices. Results of the study indicate that Islamic finance researchers and analysts opined that there is a need for revising the criteria for construction of Islamic equity indices. There are conflicting viewpoints regarding performance and efficiency of Islamic indices in comparison with conventional indices and main reasons for stock market integration are trade liberalization, globalization and other factors. Moreover, there is a need for making investors and other market players aware about the attractiveness of Islamic indices from investing point of view.

Originality/value

Based on this extensive literature review and as highlighted by Masih et al. (2018) in their recap of literature on Islamic equity indices indicating that there are bulk of empirical studies carried in the past in the domain, however, there is a dearth of theoretical and qualitative studies. Hence, this preliminary qualitative study not only makes theoretical contribution but also deploys FGD, which is rarely used in the similar context, and offers candid views of the participants on key issues pertaining to Islamic equity indices. This lends novelty to this study.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 6
Type: Research Article
ISSN: 1759-0817

Keywords

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Article
Publication date: 19 February 2024

Syed Waqar Haider, Hammad Bin Azam Hashmi and Sayeda Zeenat Maryam

In the prior literature, the motivation to adopt wearable fitness technology (WFT) has been linked with either intrinsic or extrinsic. However, how the subcategories of extrinsic…

205

Abstract

Purpose

In the prior literature, the motivation to adopt wearable fitness technology (WFT) has been linked with either intrinsic or extrinsic. However, how the subcategories of extrinsic motivations (identified, introjected and external) affect the consumers’ WFT adoption decision remains sparse. Furthermore, do regulatory focus (prevention vs promotion) and gender differences the effects of different motivations on WFT adoption is almost unknown in the health-care marketing literature. This study aims to fill the above-mentioned gap and to unfold the WFT adoption beyond the traditional motivation by incorporating the organismic integration theory (part of self-determined theory) and regulatory focus theory.

Design/methodology/approach

This study used a questionnaire-based survey. Using the “AMOS” survey, questionnaire responses of 641 respondents were analyzed and validated by using structural equation modeling. All the variables were adopted from the literature.

Findings

The results show that intrinsic, identified and external motivations have the greatest impact on consumers’ decisions, while introjected motivation was not significant directly. The moderation effects of regulatory focus are significant in such a way that prevention focus influences the introjected motivation and promotion focus affects the external motivation and WFT adoption decision. Furthermore, the findings on gender moderation suggest that women are more intrinsically motivated, and men are more externally motivated for WFT adoption.

Practical implications

The new insights and contributions of this study provide a better understanding of WFT adoption and help sellers develop more effective marketing strategies.

Originality/value

This study incorporates subcategories of extrinsic motivations to provide a deeper understanding of consumers’ behavior. Furthermore, this study applies a unique framework of organismic integration theory to consumers’ WFT adoption. It is also among very few research that investigate regulatory focus and gender impact on consumers’ WFT adoption.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6123

Keywords

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Article
Publication date: 8 April 2020

Hammad Bin Azam Hashmi, Chengli Shu and Syed Waqar Haider

Although the store environment-impulse buying nexus is well documented, the influence of consumer motivations on this nexus is still underexplored. Consequently, this paper aims…

3346

Abstract

Purpose

Although the store environment-impulse buying nexus is well documented, the influence of consumer motivations on this nexus is still underexplored. Consequently, this paper aims at explaining the mediating effect of emotional states and the moderating effect of hedonic shopping motives on the relationship between store atmospherics and impulse buying behavior.

Design/methodology/approach

Primary data from 437 customers were generated through a questionnaire developed for this study. Respondents were accessed using mall-intercept technique. Structural equation modeling (SEM) was done to empirically estimate the model.

Findings

Results indicate that pleasure and shopping enjoyment mediate the effect of store atmospherics on the impulse purchase behavior. The findings also show that hedonic shopping motives moderate the relationship between the store atmospherics and impulse purchase.

Originality/value

This study contributes by introducing the moderating role played by the hedonic shopping motives on the relationship between store atmospherics and impulse purchase. In addition, it introduces that shopping enjoyment and pleasure mediate the effect of perceived store atmospherics on impulse purchase.

Details

International Journal of Retail & Distribution Management, vol. 48 no. 5
Type: Research Article
ISSN: 0959-0552

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Article
Publication date: 2 December 2019

Hafiz Ali Hassan

The concept of Takaful has a long history. It is linked with the era of Prophet Muhammad 1,400 years ago. The globalization and development of socio-economic systems have made…

1992

Abstract

Purpose

The concept of Takaful has a long history. It is linked with the era of Prophet Muhammad 1,400 years ago. The globalization and development of socio-economic systems have made business activities more complex in response to emerging human needs and requirements. Similarly, Takaful insurance has fully commercialized and become an important indicator of the international financial market. The purpose of this study is to understand the Takaful mechanism and progression of its procedures to date since its inception.

Design/methodology/approach

This study seeks to examine the origin, evolution and historical developments of Takaful mechanism, operations, models and governing framework with extant literature review from previous studies and current practices.

Findings

The modern Takaful insurance first began in Sudan back in 1979. The Takaful operations must abide by the Sharia laws and work under the supervision of the Sharia Supervisory Board. Since its evolution, Sharia scholars have introduced various Takaful models that are going to be explained in this study. Moreover, several Islamic organizations, including the “Islamic Financial Services Board” and the “Accounting and Auditing Organization for Islamic Financial Institutions,” have provided guidelines and supervision to develop and strengthen the Takaful industry further. The study acknowledges Takaful as a growing insurance industry with huge potential and promising future in both Pakistan and the international market.

Practical implications

During the analysis, various deficiencies and loopholes were identified, which are responsible for the unmatched growth of conventional insurance. They can be eliminated with the joint efforts of industrial players, Sharia scholars and Takaful insurance companies. Hence, Islamic scholars and academic researchers are encouraged to develop and modify the current practices of Takaful mechanism according to current market demands and consumer approach. The research efforts will help Takaful operators to develop more innovative Takaful products adhering Sharia compliance. Consequently, it will help to access more consumer market and further enhances the Takaful growth.

Originality/value

This study is an effort to provide a basic understanding of the mechanism of Takaful models. The study helps to comprehend how Takaful models have evolved and been modified over the course of time. Moreover, it provides a base for further development and improvement in current practices of Takaful models, which will result in increased progress for the Takaful industry.

Details

Journal of Islamic Marketing, vol. 11 no. 6
Type: Research Article
ISSN: 1759-0833

Keywords

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