Search results

The purpose of this paper is to propose an approach to design a national default option to maximize retirement savings in defined contribution superannuation, using a proportionate shareholding approach (PSA) which minimizes total cost of investing for all investors.

Through analytic modelling, the author shows how transaction costs in combination with size effects and agency incentives have limited the ability of professional managers to use arbitrage and active investment to create a price‐efficient market. Statistical models show how investors would experience difficulties in understanding fund performances due to inherent noise in the data. The models suggest financial intermediation has created an information asymmetry which reduces the effectiveness of market competition to lower costs in superannuation.

The authors find that the PSA is a collective optimal strategy and it is also an individual optimal strategy, because of the presence of informational inefficiency. Passive investing does not need commercial indices. PSA is more passive and flexible than standard indexing, and is fully‐scalable and available to all investors.

Professional investment managers have not beaten the market, not because the market is efficient, but because it is inefficient due to a market failure to recognise and resolve principal‐agent conflicts of interest.

The proposed national default option has the potential to substantially increase national savings through low‐cost superannuation.

The paper provides a new rationale for passive investing based on the hypothesis of market inefficiency. It also provides the first formal proof of the “Cost matters theorem.” The proposed idea of a national default option will create a simple, understandable and cost‐effective alternative for all workers and will also provide a performance benchmark to encourage the development of a more competitive and efficient superannuation market.

This paper explores the impact of interior design education and its effectiveness in the work environment for women in the United Arab Emirates (UAE), as they are the primary recipients of interior design programs. The analysis focuses on the role of women in interior design in the Gulf countries and the update of an interior design program curriculum as part of the continuous development program requested by the UAE Commission of Academic Accreditation (CAA) of the national Ministry of Education (MoE).

The research adopts different methodologies: an academic annual effectiveness report (AER), requirements of relevant international and regional accreditation bodies and a double round of surveys and interviews with female students, alumni, instructors and professionals.

The article collects and compares data from different perspectives, from the academic to the professional point of view, discussing challenges and opportunities for female students in contemporary interior design in the UAE. After collecting the necessary feedback on the strengths and weaknesses of the bachelor’s program, a set of informed recommendations has been developed, approved and introduced during the academic year 2022/2023. At the end of the year, a second feedback from faculty and external reviewers was gathered and analyzed, providing preliminary insights into the effectiveness of the curricular revisions and highlighting the significant benefits for the female students.

The paper discusses the comprehensive and up-to-date combination of traditional elements, innovative approaches and sustainable practices, alongside the strategic planning of the United Arab Emirates, proposed to enhance female learning experiences while reinforcing their skills and competencies for their future careers.

Managing educational innovation in higher education institutions is a complex process that requires specific strategies based on research and proven frameworks. The aim of this paper was to examine how Bolman and Deal’s (2003) theoretical framework can be used to analyse organisational change processes and to evaluate the progress and outcomes of an educational innovation initiative at a university in the Gulf. This educational innovation involved the use of iPads in curricular practices to enhance pedagogical strategies and student learning outcomes.

An ethnographic case study methodology was used to make an empirical inquiry that investigated data obtained from direct observations, informal interviews, holistic field notes and documents to better understand a contemporary phenomenon within its real-life context.

A critical analysis of this iPad initiative suggested that the main areas of leading and managing this innovation, through Bolman and Deal’s framework, were effectively centred around the human resources, structural and political frames but were less affected by the symbolic frame.

The authors provide suggestions, based on their experiences as faculty members and academic administrators, on how such innovations can be effectively led and managed. In addition, a new cross-cultural model is proposed for managing future educational innovations in higher education, particularly in the Gulf region. This new model could also be used to effectively evaluate the implementation and management of other educational changes such as those precipitated by the COVID-19 pandemic.

In part-I of this review series, research from Afghanistan, Bangladesh, Bhutan, Maldives, Nepal and Sri Lanka was reviewed. The purpose of this paper which is part-II of the series, is to review management research from India and Pakistan over a 25-year period from 1990 to 2014.

A systematic review approach was adopted for this research. As a quality standard for inclusion, articles were restricted to journals rated A*, A, or B by the Australian Business Deans Council in 2013 and either Q1 or Q2 in the Scopus/Imago classification system. The divisions and interest groups of the Academy of Management were used as framework to organize the search results.

A total of 1,039 articles related to India (n = 930) and Pakistan (n = 112) emerged from the search process, with three articles being related to both countries. The research was published in 163 different journals that met the quality criteria. The period under review coincides with the advent of economic liberalization in India and this emerged as a major theme in the India-related research. Other context-specific insights for these two countries are also derived from an ecological and institutional theory perspective.

This research represents the first comprehensive and systematic review of management research in India and Pakistan. As in part-I, the unique review approach allows for strict adherence to a predetermined quality standard while including a wide variety of journals and research traditions.

This study aims to examine whether citizens of non-Muslim countries accept products with a “halal” logo. In the era of globalization, one of the most crucial issues for Muslim travelers is reliable halal foods when visiting non-Muslim countries. If people in non-Muslim countries accept imported products containing halal certification logos, and such products are readily available in shops, this issue could be substantially improved.

Malaysia and Japan were selected as Muslim and non-Muslim countries, respectively, to conduct a choice experiment (CE) for 656 non-Muslim subjects, and estimated willingness to pay (WTP) for mineral water with and without the halal logo. A random parameter logit model was used for estimation.

The difference between the WTP for mineral water with and without the halal logo was ¥5; however, the associated coefficient is not statistically significant. This implies that the halal logo has no impact on non-Muslim subjects’ purchasing behavior. From this, we can infer that the halal products with certification logo would be accepted in Japanese shops, which may foster foreign Muslim visits.

As the results are based on a couple of countries (Malaysia and Japan) and only one product (mineral water), further investigation using other products in different countries would be necessary. However, as suggested in the main text, the results enjoy a degree of generalizability.

The results of this study support the possibility of circulating halal products in non-Muslim countries and thus promoting Muslim travel abroad. No such study has examined this issue using CE.

Numerous researchers proved Vertical Greenery System VGS beneficial to buildings and surroundings. However, it is still not widely applied in the tropics like Malaysia. This paper aims to determine the perceptions of VGS among the end users before it can be improved. A survey was conducted among 40 respondents, the end users of VGS in selected buildings within Klang Valley area. The collected data was analysed using statistical tests. From the findings, the primary benefits of VGS perceived by end users are enhancing visual quality, bringing nature harmony, reducing stress and reducing the urban heat island effects. The perceptions contradict with the results of ANOVA test between reducing the urban heat island effects and other VGS benefits that proves the need and effort to work on VGS in Malaysia.

The world’s urban population is rapidly growing, now exceeding its rural population, and is expected to reach 70% of the world’s total by 2050. Research in environmental psychology increasingly supports the Biophilia Hypothesis which holds that our connection with Nature is innate. Thus, how do we maintain a human connection to Nature in an increasingly urbanising world? This paper is based on current research work and explores the boundary between built and natural environments, specifically how visual connectivity to Nature affects how people use social spaces, compared to spatial connectivity. Case study work is being undertaken at Arcosanti urban laboratory in the Arizona desert. Arcosanti construction began in 1970 to test Paolo Soleri’s Arcology Theory which proposes, in opposition to sprawling cities, a new form of urban setting which is compact with tightly restricted horizontal growth, leaving the surrounding natural environment as undeveloped “wilderness”. Through development of a Space/Nature Syntax methodology applied within a uniquely compact urban form, this research attempts to understand how designing to maintain the instinctive bond with Nature can affect social interaction and inform future design choices within built environments. This paper describes the development of, and basis for, the Space/Nature Syntax methodology, presents initial findings achieved through its recent application at Arcosanti, and outlines future work. Initial analysis indicates that visual connectivity to Nature is a significant influence on certain types of social interactions when compared to spatial connectivity, although more research is needed to verify the level of significance.

The strategic management literature emphasizes the concept of business intelligence (BI) as an essential competitive tool. Yet the sustainability of the firms’ competitive advantage provided by BI capability is not well researched. To fill this gap, this study attempts to develop a model for successful BI deployment and empirically examines the association between BI deployment and sustainable competitive advantage. Taking the telecommunications industry in Malaysia as a case example, the research particularly focuses on the influencing perceptions held by telecommunications decision makers and executives on factors that impact successful BI deployment. The research further investigates the relationship between successful BI deployment and sustainable competitive advantage of the telecommunications organizations. Another important aim of this study is to determine the effect of moderating factors such as organization culture, business strategy, and use of BI tools on BI deployment and the sustainability of firm’s competitive advantage.

This research uses combination of resource-based theory and diffusion of innovation (DOI) theory to examine BI success and its relationship with firm’s sustainability. The research adopts the positivist paradigm and a two-phase sequential mixed method consisting of qualitative and quantitative approaches are employed. A tentative research model is developed first based on extensive literature review. The chapter presents a qualitative field study to fine tune the initial research model. Findings from the qualitative method are also used to develop measures and instruments for the next phase of quantitative method. The study includes a survey study with sample of business analysts and decision makers in telecommunications firms and is analyzed by partial least square-based structural equation modeling.

The findings reveal that some internal resources of the organizations such as BI governance and the perceptions of BI’s characteristics influence the successful deployment of BI. Organizations that practice good BI governance with strong moral and financial support from upper management have an opportunity to realize the dream of having successful BI initiatives in place. The scope of BI governance includes providing sufficient support and commitment in BI funding and implementation, laying out proper BI infrastructure and staffing and establishing a corporate-wide policy and procedures regarding BI. The perceptions about the characteristics of BI such as its relative advantage, complexity, compatibility, and observability are also significant in ensuring BI success. The most important results of this study indicated that with BI successfully deployed, executives would use the knowledge provided for their necessary actions in sustaining the organizations’ competitive advantage in terms of economics, social, and environmental issues.

This study contributes significantly to the existing literature that will assist future BI researchers especially in achieving sustainable competitive advantage. In particular, the model will help practitioners to consider the resources that they are likely to consider when deploying BI. Finally, the applications of this study can be extended through further adaptation in other industries and various geographic contexts.

The purpose of this study is to integrate and synthesize the Islamic marketing literature, understand the phenomenon and related concepts and provide suggestions for future research.

The study uses an integrative review method that emphasizes summarizing and synthesizing the previous literature related to a phenomenon.

The findings indicate the emergence of five major themes, namely, Islamic marketing and its perspectives, activities in Islamic marketing, opportunities, controversies and challenges in Islamic marketing, Islamic principles and determinants of consumers’ behavior and awareness toward Islamic products. Each of the major themes consists of sub-themes discussed in detail in the results and discussion sections.

Like other studies, this integrative literature review has some limitations. These include the methodology undertaken, the lack of explanation of inter-relationship among themes and lack of Islamic theory-based review. These limitations lead to future research directions.

Marketing managers need a thorough understanding of the Islamic standards and need to develop strategies. Further, there are inter-differences among Muslims, which need to be thoroughly understood by managers. Moreover, marketers can effectively use advertising in creating awareness and increasing demand of halal products.

This study provides an integrative review of the literature and synthesizes the Islamic marketing literature, which has not been done before.

The study aims to explore the theoretical framework of Halal B2B marketing in the metaverse, develop a conceptual framework for future research, identify challenges and opportunities, including technological, cultural and compliance aspects, and provide insights for the effective integration of the metaverse into Halal B2B marketing practices.

The research employs a comprehensive literature review, examining works on halal marketing, Islamic business ethics and technology adoption in Islamic markets. The study also identifies key stakeholders in Halal B2B marketing within the metaverse, such as Halal businesses, Muslim buyers, technology developers, regulatory bodies and others, and discusses their unique challenges and contributions.

The study presents a conceptual framework depicting the interaction among various stakeholders in Halal B2B marketing within the metaverse. It identifies opportunities such as enhanced customer engagement, global market expansion and innovative branding, and discusses challenges including technological disparities, cultural sensitivities and Halal compliance.

The conceptual framework delineated in this paper succinctly outlines the potential challenges confronted by diverse stakeholders in building the digital Halal market ecosystem within the metaverse. These frameworks augment the understanding of the metaverse as an evolving digital technology for brands operating within this digital space. This contributes to both theoretical and practical insights into the integration of the metaverse into business operations. While the metaverse holds promise for immersive and interconnected digital experiences, it also comes with several limitations and challenges that need to be taken into account.

The research introduces a framework that elucidates the professional relationships among key entities: Halal B2B brands aiming to enter the metaverse for brand promotion, buyers seeking business opportunities within the metaverse, and technology developers responsible for establishing the required infrastructure. This framework offers a succinct portrayal of the stakeholders' positions, delves into potential opportunities within the metaverse, and scrutinises the inherent challenges associated with these possibilities.

The metaverse empowers Halal enterprises to provide tailor-made experiences that resonate with the preferences of Muslim consumers. It offers scope for personalised marketing, emphasising its potential as a pivotal element in the triumph of Halal B2B marketing within the metaverse. In the realm of Halal marketing, cultural and ethical alignment holds paramount importance. The metaverse provides opportunities for devising marketing approaches that are attuned to Islamic cultural and ethical values.

The study results in several recommendations that could help Halal B2B brands effectively leverage the metaverse's potential and cater to Muslim consumers' needs innovatively. These are: (a) Invest in Metaverse Infrastructure by partnering with technology developers or invest in virtual spaces tailored to Halal products; (b) Tailor Marketing Experiences through creating immersive experiences aligned with Muslim consumers' preferences; (c) Ensure Cultural and Ethical Alignment by consulting religious scholars to ensure marketing respects Islamic values; (d) Foster Business Opportunities by facilitating virtual trade shows and marketplaces for Halal products; (e) Educate Stakeholders by organising workshops to introduce the metaverse's potential benefits; (f) Address Challenges Proactively by tackling privacy, accessibility and regulatory issues head-on; (g) Collaborate with Industry Partners and work with other Halal brands and tech partners to drive innovation.