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Article
Publication date: 5 June 2020

Zaid Aladwan

The purpose of this paper is to examine the application of the fraud exception rule and try to analyze the different approaches in regard to the implication of fraud rule in…

345

Abstract

Purpose

The purpose of this paper is to examine the application of the fraud exception rule and try to analyze the different approaches in regard to the implication of fraud rule in letters of credit. Further, this paper tries to explore if there is an obstacle when applying such exception rule in common law and whether there is an overlap with interpreting the said rule. The same fact appears in civil law courts as well.

Design/methodology/approach

This paper is a comparative study which uses analytical approach and critical legal thinking.

Findings

The scope of the fraud defence, the US legal systems demonstrate that the scope of the fraud rule is extended and covers both fraud in documents and fraud in the underlying contract, while in contrast, in UK the rule’s scope is restricted to fraud in documents only. Such an approach is reasonable, as it is justified by applying the Uniform Customs and Practice for Documentary Credits (UCP) rules strictly. That is to say, English courts apply the rules literally, even if it does not lead to fair judgements, while in contrast, American courts seek to enforce justice even if it goes beyond the rules. In any case, restricting the fraud exception to fraud in the documents is the proper approach. The reason for such restriction, on the one hand, is to maintain the integrity of letters of credit and, on the other hand, to affirm the autonomy principle.

Originality/value

Extending the scope of the fraud defence will require banks to go beyond the documents, which is not logical. Banks are neither expert in such transactions nor required to do so. Most importantly, banks are concerned with documents only; it is for the court to go beyond the documents. Although this approach could be criticized, it is important to ensure that the validity of the documentary credit instrument is not compromised. As established by academics, any argument need not engage the bank unless it is in respect of the presented documents. In short, “pay now, argue later” is paramount to distinguish parties’ litigations from banks vs parties’ litigations. In any case, it can be suggested that extending the fraud rule exception to include fraud in the underlying contract from Jordan perspective is not the proper one because it is necessary to maintain the integrity of letters of credit and to affirm the autonomy principle.

Details

Journal of Financial Crime, vol. 27 no. 3
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 4 March 2020

Zaid Aladwan

This paper aims to analyse the status of the bank’s knowledge and the hardship related to the clear evidence requirement with regard to establish the fraud exception rule in…

537

Abstract

Purpose

This paper aims to analyse the status of the bank’s knowledge and the hardship related to the clear evidence requirement with regard to establish the fraud exception rule in English courts.

Design/methodology/approach

Traditional analysis method and critical legal thinking.

Findings

To trigger such an exception in England, two conditions, bank’s knowledge and clear evidence, must be met to establish the fraud rule, which will be applied only if it appears in documents. The bank’s knowledge condition, the awareness of the fraud that the bank should have before the payment, is material to determine whether if the fraud rule will trigger in most of the English cases. However, if the bank is not aware of the fraud, they must honour the credit if the documents are compliant, meaning the paying bank is protected if the documents against which it made payment are tainted with fraud, even if it is not aware of the fraud. Moreover, it is not a bank’s responsibility to investigate allegations of fraud. Nonetheless, there are some reservations regarding the bank’s knowledge and clear evidence conditions, as explained above. In short, such an approach does not lead to fairness and justice for the applicant.

Originality/value

English courts focus more on evidence of the fraud rather than making unnecessary distinctions pertinent to the fraud exception scope. The absence of such evidence will not trigger the exception rule. Conversely, injunctions are not easily granted in England where the requirement for heavy evidence and proof of the bank’s knowledge will be obstacles. That is to say, banks are more protected in England simply because the courts want to uphold the integrity of the banking system when affirming the autonomy principle. In a case where the applicant becomes aware of the fraud, there is no other option for the applicant except to ask for an injunction from the court, which is not easy to gain under English courts. In addition, it is unclear how the court will prove that the bank is aware if there is fraud in the presented documents. In addition, the question arises as to whether the same strict standard will be required by both the applicant and the party who notified the fraud.

Details

Journal of Financial Crime, vol. 30 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 16 April 2024

Garima Malik and Pratibha Singh

This study focusses on the intersection of social sustainability and human resource management (HRM) as a strategy for crisis management. It aims to provide detailed insight by…

458

Abstract

Purpose

This study focusses on the intersection of social sustainability and human resource management (HRM) as a strategy for crisis management. It aims to provide detailed insight by exploring the associations between socially sustainable HRM (SSHRM), employee well-being, trust in social capital and employee resilience.

Design/methodology/approach

This study used a cross-sectional research design to test relationships amongst variables. Data was gathered from employees in India’s private-sector information technology (IT) industry, making the framework relevant to this specific context. The study employed the partial least squares structural equation modelling (PLS-SEM) to analyse complex relationships between the variables.

Findings

The results indicate that organisations can boost employee resilience through SSHRM implementation, promote personal well-being (PWB) and family well-being (FWB) and foster trust in social capital. Additionally, the study highlights the moderating impact of employee empowerment, improving the translation of positive employee behaviour in organisational settings.

Practical implications

Our research emphasises the importance of sustainability efforts and strategies focused on social capital to build long-lasting employee connections. This highlights the necessity of incorporating social sustainability objectives into the organisation’s strategic blueprint, ensuring integration into decision-making procedures.

Originality/value

This study uniquely explores the underlying mechanisms through which SSHRM influences employee resilience. An in-depth empirical analysis evinces the causal mechanism between SSHRM, employee well-being, social capital trust and employee resilience.

Details

Employee Relations: The International Journal, vol. 46 no. 3
Type: Research Article
ISSN: 0142-5455

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Article
Publication date: 28 February 2024

Ibraheem Saleh Al Koliby, Mohammed A. Al-Hakimi, Mohammed Abdulrahman Kaid Zaid, Mohammed Farooque Khan, Murad Baqis Hasan and Mohammed A. Alshadadi

Although green entrepreneurial orientation (GEO) has received much attention, it is unclear whether it affects technological green innovation (GI). Therefore, this study aims to…

263

Abstract

Purpose

Although green entrepreneurial orientation (GEO) has received much attention, it is unclear whether it affects technological green innovation (GI). Therefore, this study aims to understand how GEO affects technological GI, with its dimensions green product innovation (GPRODI) and green process innovation (GPROCI), as well as to explore whether resource orchestration capability (ROC) moderates the relationships between them.

Design/methodology/approach

Based on a cross-sectional survey design, data were gathered from 177 managers of large manufacturing firms in Yemen and analysed using partial least squares structural equation modelling via SmartPLS software.

Findings

The results revealed that GEO positively affects both GPRODI and GPROCI, with a higher effect on GPROCI. Importantly, ROC does, in fact, positively moderate the link between GEO and GPRODI.

Research limitations/implications

This research adds to knowledge by combining GEO, ROC and technological GI into a unified framework, considering the perspectives of the resource-based view and the resource orchestration theory. However, the study’s use of cross-sectional survey data makes it impossible to infer causes. This is because GEO, ROC and technological GI all have effects on time that this empirical framework cannot account for.

Practical implications

The findings from this research provide valuable insights for executives and decision makers of large manufacturing companies, who are expected to show increasing interest in adopting ROC into their organisations. This suggests that environmentally-conscious entrepreneurial firms can enhance their GI efforts by embracing ROC.

Social implications

By adopting the proposed framework, firms can carry out their activities in ways that do not harm environmental and societal well-being, as simply achieving high economic performance is no longer sufficient.

Originality/value

Theoretically, the results offer an in-depth understanding of the role of GEO in the technological GI domain by indicating that GEO can promote GPRODI and GPROCI. In addition, the results shed new light on the boundaries of GEO from the perspective of resource orchestration theory. Furthermore, the findings present important insights for managers aiming to enhance their comprehension of leveraging GEO and ROC to foster technological GI.

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Article
Publication date: 29 July 2024

Maha Shehadeh, Khaled Hussainey, Mohammad Alhadab and Qais Kilani

This research examines the impact of the COVID-19 pandemic and governance structure on corporate narrative reporting (CNR) concerning Industry 4.0 (I4.0) technologies in Jordanian…

185

Abstract

Purpose

This research examines the impact of the COVID-19 pandemic and governance structure on corporate narrative reporting (CNR) concerning Industry 4.0 (I4.0) technologies in Jordanian commercial banks. The study aims to explore how these factors influence the extent and nature of disclosures in annual reports.

Design/methodology/approach

The study uses a comprehensive manual content analysis method to investigate the annual reports from all 15 Jordanian commercial banks from 2010 to 2022. This approach allows for the detailed examination of I4.0 disclosures, using a specially developed index to measure various disclosure dimensions. An ordinary least squares model is used to assess the determinants of CNR on I4.0, considering factors such as the pandemic’s impact and various governance attributes.

Findings

The findings indicate that both the COVID-19 pandemic and specific governance factors (e.g. board size and audit committee size) significantly enhance the disclosure of I4.0 technologies. The study reveals that during the pandemic, banks significantly increased their level of detailed disclosures about I4.0 strategies, challenges and benefits, reflecting a strategic response to the pandemic’s disruption.

Originality/value

This study introduces a novel I4.0 Reporting Index for banks, measuring disclosures across strategy implementation, business model transformation, challenges and benefits. It adds to the existing literature by offering insights into narrative reporting practices concerning I4.0 technologies within the banking sector and illuminates the impact of the COVID-19 pandemic on these practices.

Details

Review of Accounting and Finance, vol. 23 no. 5
Type: Research Article
ISSN: 1475-7702

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Article
Publication date: 11 April 2023

Amneh Alkurdi, Taha Almarayeh, Hanady Bataineh, Hamzeh Al Amosh and Saleh F.A. Khatib

This paper aims to investigate the relationship between corporate profitability (CP) and effective tax rate (ETR) and to examine whether this relationship is moderated by board…

643

Abstract

Purpose

This paper aims to investigate the relationship between corporate profitability (CP) and effective tax rate (ETR) and to examine whether this relationship is moderated by board gender diversity (BGD).

Design/methodology/approach

The multivariate regression analysis was conducted to test the relationship between related variables. This study used sample of 70 Jordanian firms listed on the Amman Stock Exchanges for the period 2013 – 2020.

Findings

The results show a negative relationship between CP and ETR. Furthermore, the moderating variable BGD changes the strength and the sign, from a negative to a positive influence, of the relationship between CP and ETR.

Originality/value

To the best of the authors' knowledge, this study is among the first that provides empirical evidence regarding the relationship between CP and ETR in the light of BGD. Further, this study provides new and important insights that are not evident from the previous literature.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 1
Type: Research Article
ISSN: 1759-0817

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Article
Publication date: 20 December 2024

Muhammad Shoaib Farooq and Maimoona Salam

The relationship between corporate-level green entrepreneurial orientation (GEO) and the implementation of cleaner production practices (CPPs) is to a great extent unexplored in…

64

Abstract

Purpose

The relationship between corporate-level green entrepreneurial orientation (GEO) and the implementation of cleaner production practices (CPPs) is to a great extent unexplored in previous literature. This study aims to connect them with the corporate-level green supply chain learning and organizational competitive aggressiveness, presenting a novel interpretation of social ethics and morality in CPPs.

Design/methodology/approach

To thoroughly explore this novel relationship, this study has used PLS-SEM for examining the moderated-mediation of competitive aggressiveness and green supply chain learning.

Findings

Findings based on the data collected from 176 German firms have largely confirmed our propositions. Suggesting that there is a strong positive relationship between corporate level GEO and CPPs. Furthermore, our findings have confirmed that green supply chain learning mediates the macro-level relationship between GEO and CPPs. Moreover, it is also confirmed that the mediation of green supply chain learning in the macro-level relationship between GEO and CPPs is negatively moderated by competitive aggressiveness.

Originality/value

This study offers a first-hand view of negatively moderated-mediation of competitive aggressiveness. Therefore, its findings are extremely relevant for policymakers in the domain of morality, social ethics, corporate-level GEO, sustainability, corporate-level green supply chain learning and CPPs.

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