Maqashid Al-Shari’ah-based performance measurement for the halal industry

Humanomics ◽  
2017 ◽  
Vol 33 (3) ◽  
pp. 357-370
Author(s):  
Faried Kurnia Rahman ◽  
Mohammad Ali Tareq ◽  
Rochania Ayu Yunanda ◽  
Akbariah Mahdzir
Keyword(s):  
Performance Measurement ◽  
Human Beings ◽  
Financial Industry ◽  
Content Type ◽  
Muslim Countries ◽  
The Government ◽  
Religious Aspects ◽  
Depth Interviews ◽  
Proper Performance ◽  
Practical Implications

Purpose The halal industry is one of the most growing industries in the world. It refers to the industry in line with Islamic principles and requirements. The emergence of this industry aims to fulfil the requirement of Islamic-compliant products and services. Surprisingly, the industry has been growing in both Muslim and non-Muslim countries. Assessing the performance of the industry will be notable for ensuring that it obtains its objectives. The proper performance measurement should highlight business perspectives and religious aspects. This study aims to explore the current issues and challenges in developing Maqashid Al-Shari’ah-based performance measurement in the halal industry. Design/methodology/approach This is a qualitative research using in-depth interviews, and uses content analysis to interpret and explain the interview result. Interviews were conducted with experts in Maqashid Al-Shari’ah and Islamic capital markets. Findings The existence of the concept of Maqashid Al-Shari’ah is to create maslahah for all human beings. The development of Maqashid Al-Shari’ah performance measurement for the business is very important. It has only been developed for Islamic financial industry. Unfortunately, it is found that the development of Maqashid Al-Shari’ah performance measurement has not been carried out comprehensively in non-financial industry. The main issue is the absence of the applicable measurements. Therefore, collective decision is required to develop the appropriate measurements. Practical implications There is a necessity for regulator to produce standards on Maqashid Al-Shari’ah-based performance measurement. The government policy plays an important role in the development and implementation of Maqashid Al-Shari’ah -based measurement index. Originality/value This paper highlights the issue of the development of Maqashid Al-Shari’ah -based performance measurement in halal business and commerce which has not much discussed in prior studies.

Rana disaster: how far can we proceed with CSR?

2016 ◽  
Vol 23 (4) ◽  
pp. 748-768 ◽  
Author(s):  
Afroza Begum ◽  
S.M. Solaiman
Keyword(s):  
Multinational Corporations ◽  
Human Beings ◽  
Content Type ◽  
Legal Literature ◽  
The Government ◽  
Modern Day Slavery ◽  
Corporate Social ◽  
International Instruments ◽  
Corporate Business ◽  
Practical Implications

Purpose This paper aims to investigate corporate social responsibility (CSR) in corporate business and stimulate a debate on this to combat the modern day slavery in Garment Industries (GIS) in Bangladesh. Design/methodology/approach This research has drawn on media, non-governmental organisations and a series of national and international reports and on relevant materials from both primary and secondary legal resources. Findings The existing phenomena in Bangladesh surrounding Rana Plaza (RP) disaster stand in sharp contrast with CSR which inevitably offend the dignity and core values of human beings as deeply entrenched in a range of national and international instruments. RP disaster was a man-made catastrophe that could have been surely averted had the three actors (such as RP, the government and the foreign buyers being multinational corporations) performed their respective obligations in due course. Research limitations/implications CSR is still an intensely debated issue, especially in terms of its scope and limitation. This study has not delved into these issues. Practical implications There has been a dearth of intellectual inquiries (to the best of the authors’ knowledge) about CSR in GIS in Bangladesh. It is submitted that this paper will contribute to filling the gap in the legal literature, especially in relation to the responsibilities of the three actors, and to contest another human catastrophe in the future. Social implications In particular, it is expected that the findings would play an important role in empowering relevant stakeholders including the impoverished workers who have been the most disadvantaged, and overlooked by the three actors. Originality/value This paper is the original work of the authors and has not been submitted elsewhere for publication.

Individual law: an Islamic Sufi approach

2018 ◽  
Vol 60 (6) ◽  
pp. 1338-1353
Author(s):  
Bijan Bidabad
Keyword(s):  
Rule Of Law ◽  
Comparative Research ◽  
Islamic Law ◽  
The Other ◽  
Human Beings ◽  
Law Schools ◽  
Content Type ◽  
The Government ◽  
Practical Implications

Purpose The purpose of this paper is to show how individual law is defined in Islam. Individual law includes a set of human rights that the government is bound to vindicate by duty. Islamic law approach is how human beings transcendence, and freedom may be formed wisely. Design/methodology/approach Spiritual flourishing is the goal of Islamic Sufism. The main topics of individual freedom are discussed here are freedom of opinion, will, religion, speech, meeting, minorities, rule of law, equality before law, rights resulted from implementing justice, ownership and self-determination of destiny and jobs, which are explained through the Islamic Sufism viewpoint. Findings By comparing individual law in Islamic law with the other law schools, transcendence of the former is more clarified. Research limitations/implications Comparative research of the other religions’ gnosticism will develop the paradigm. Practical implications The principles highlighted in this study can be used for applied debates in the field to promote individual law for understanding and recompilation. Social implications Delicateness, truthfulness and righteousness of Islamic Sufism may turn the attentions of scholars and researchers to this rich viewpoint. Originality/value Individual law scholars have not touched the topic from this viewpoint. This paper opens new challenging area.

Financing innovative SMEs of traditional sectors: the supply side

2016 ◽  
Vol 11 (1) ◽  
pp. 84-100 ◽  
Author(s):  
Ronen Harel ◽  
Dan Kaufmann
Keyword(s):  
Design Methodology ◽  
Private Equity ◽  
Market Failure ◽  
Financial Industry ◽  
Content Type ◽  
The Public ◽  
Governmental Intervention ◽  
Financing Market ◽  
Depth Interviews ◽  
Practical Implications

Purpose – The purpose of this paper is to study the funding difficulties of innovative SMEs in traditional sectors (ISTS) and asks whether current conditions represent a financing market failure. Design/methodology/approach – The study explores the financial tools available in Israel and their relevancy to ISTS by conducting in-depth interviews with different key figures in the financial industry. These include managers at venture capital (VC) funds, banks, private equity (PE) funds, mezzanine funds, as well as officials from the public sector. Findings – In this study the authors identify the existence of a market failure relating to the funding of ISTS and suggest that the current VC, PE and mezzanine fund models cannot provide adequate financing solutions for ISTS in Israel. Practical implications – In light of the importance of these firms to the economy, governmental intervention is required, if more innovative activity of ISTS is desired. To this end, the study proposes a funding scheme that addresses the special needs of these companies. Originality/value – The study contributes to the literature by focussing specifically on the challenges of ISTS and by using a qualitative approach to analyzing the relevancy of different financial mechanisms to their needs.

Why would whistleblowers dare to reveal wrongdoings?

2019 ◽  
Vol 61 (3/4) ◽  
pp. 505-515
Author(s):  
Ilham Nurhidayat ◽  
Bevaola Kusumasari
Keyword(s):  
Qualitative Method ◽  
Exploratory Research ◽  
Orientation Data ◽  
Content Type ◽  
The Subject ◽  
The Government ◽  
And Control ◽  
Depth Interviews ◽  
Practical Implications

Purpose The purpose of this paper is to attempt to address basic empirical and theoretical queries on why and how insiders have the courage to voice their concerns and reveal corruption on corruption-related crimes that have been committed in Indonesia. Design/methodology/approach This exploratory research uses the qualitative method and uses a multi-case study in exploring the reality of whistleblowing cases in Indonesia by treating each case with a unique case orientation. Data were acquired through in-depth interviews conducted with whistleblowers and other supporting informants. Findings By analysing the rationalisation of an insider’s courage in revealing the corruption act, this study finds out that the act of whistleblowing is driven by the intention developed in the whistleblower’s attitude to defy the actions of wrongdoers. Such an attitude can invoke courage in whistleblowers despite the perceived norms and control that are internally prevalent in the organisation being non-conducive to such acts. Practical implications The findings in this paper are expected to guide the government in drafting a policy creating a more effective whistleblowing system that protects whistleblowers. Originality/value This study endeavours to fill the existing gap in mainstream research regarding corruption-related crimes in Indonesia that, to date, focusses more on aspects relating to the perpetrators of corruption. This research, conversely, approaches the subject matter from the perspective of whistleblowers.

Consumer value creation through WhatsApp use

2019 ◽  
Vol 32 (4) ◽  
pp. 455-471
Author(s):  
Jorge Cruz-Cárdenas ◽  
Jorge Guadalupe-Lanas ◽  
Ekaterina Zabelina ◽  
Andrés Palacio-Fierro ◽  
Margarita Velín-Fárez ◽  
...  
Keyword(s):  
Latin American ◽  
Value Creation ◽  
Emotional Support ◽  
Design Methodology ◽  
Instant Messaging ◽  
Role Performance ◽  
Content Type ◽  
Consumer Value ◽  
Depth Interviews ◽  
Practical Implications

Purpose The purpose of this paper is to understand in-depth how consumers create value in their lives using WhatsApp, the leading mobile instant messaging (MIM) application. Design/methodology/approach The study adopts the perspective of customer-dominant logic (CDL) and uses a qualitative multimethod design involving 3 focus groups and 25 subsequent in-depth interviews. The research setting was Ecuador, a Latin American country. Findings Analysis and interpretation of the participants’ stories made it possible to identify and understand the creation of four types of value: maintaining and strengthening relationships; improving role performance; emotional support; and entertainment and fun. In addition, the present study proposes a conceptual model of consumer value creation as it applies to MIM. Practical implications Understanding the way consumers create value in their lives using MIM is important not only for organizations that offer MIM applications, but also for those companies that develop other applications for mobile phones or for those who wish to use MIM as an electronic word-of-mouth vehicle. Originality/value The current study is one of the first to address the topic of consumer behavior in the use of technologies from the perspective of CDL; this perspective enables an integrated qualitative vision of value creation in which the consumer is the protagonist.

The nexus between the increasing involvement of youth in betting games and unemployment: the Nigerian perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gbemi Oladipo Olaore ◽  
Bimbo Onaolapo Adejare ◽  
Ekpenyong Ekpenyong Udofia
Keyword(s):  
Structural Equation ◽  
Family Income ◽  
Equation Model ◽  
Content Type ◽  
Global Industry ◽  
Youth Involvement ◽  
Technology Advancement ◽  
Confirmatory Factor ◽  
The Government ◽  
Practical Implications

Purpose Betting games have become a global industry worth billions of dollars providing employment to millions and contributing to the gross domestic product (GDP) of several countries. While there are debates and controversies surrounding betting games discourse, a growing body of literature shows that it has been exacerbated by growing unemployment rates. This paper aims to examine the nexus between the increasing involvement of youth in betting games and unemployment from the Nigerian perspective. Design/methodology/approach The study adopts simple random and stratified sampling techniques to select participants for the study. Three hypotheses were tested for this study and confirmatory factor analysis (CFA) and structural equation model (SEM) was used to test the hypotheses. Findings The three hypotheses tested in this study were coined from previous literature. The study established a direct link between technology advancement, promises of winning big coupled with bonuses while unemployment was not significant to youth involvement in betting games. The study also showed that playing betting games provides another source of income to the youth, who are already engaged in one form of work or another. Finally, youth involvement in betting games has created awareness regarding different sports in the world, while contributing to Nigeria’s economy. Practical implications As betting games centre as a business in Nigeria has contributed substantially and positively to unemployment in Nigeria; the Government of Nigeria are encouraged to streamline and regulate the activities of the sector such that they can contribute significantly to the country GDP and provide employment opportunities to the youths. Originality/value The research shows that the reason why betting games have a massive turnaround of youths in Nigeria is not majorly because of unemployment but as another means to a substantial financial individual/family income. Thus, Nigerian youths see betting games as an avenue to make more money. The study is the first of its kind to examine the nexus between betting games, technology and unemployment hence, its contribution to knowledge.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

Development land valuation accuracy in China – a case study of Beijing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mengmeng Dou ◽  
Lesley Anne Hemphill ◽  
Lay Cheng Lim
Keyword(s):  
Market Price ◽  
Market Dynamics ◽  
Industrial Land ◽  
Content Type ◽  
Industrial Market ◽  
Transaction Prices ◽  
Land Valuation ◽  
Market Transaction ◽  
The Government ◽  
Practical Implications

PurposeThe paper aims to quantitatively investigate vacant industrial land valuation accuracy in China, given the importance of the industrial market as an underlying pillar to promote urban growth especially in emerging economies.Design/methodology/approachIn China, the government formulates a Land Benchmark Price (LBP) to serve as a price reference point to sell land rights. To gain an in-depth understanding of the valuation practice by LBP, this paper uses correlation analysis to investigate the varying dynamics between the transaction-based prices and LBP appraisal-based estimates. Furthermore, a margin of error examination investigates the distortion in LBP land appraisals, with an amended LBP presented to improve the accuracy of the current LBP method.FindingsDifferent influencing factors are identified to impact the actual market transaction prices and the LBP construction, leading to a large discrepancy in industrial land appraisals. A systematic problem is recognised that the construction of the LBP follows urban bid curve theory, whereas the land transaction prices do not, demonstrating that an urgent LBP update is needed to capture the market dynamics for industrial market.Practical implicationsThe paper sets out discrepancies in valuation accuracy surrounding the application of the LBP valuation approach in China. This has practical implications for valuers in terms of raising their awareness of the deficiencies in the approach and the pitfalls they need to guard against in their appraisals. It also has implications for developers and investors who rely on valuer appraisals to assess the viability of land purchases; hence, they need to express caution in the appraisal advice sought. Finally, the results demonstrate to the standard setters how they need to modify the LBP equations to better capture market dynamics.Originality/valueThe paper examines valuation accuracy in transitional economies, through valuation differentials between appraised price and the transacted price. The value of the work lies in the analysis of the fundamental differentials between market price and appraised value, which is of importance to investors/developers, practicing valuers, as well as government officials responsible for setting the valuation standards.

An exploratory study into organizational repatriates’ emotional support network

2017 ◽  
Vol 24 (4) ◽  
pp. 645-668 ◽  
Author(s):  
Lore Van Gorp ◽  
Smaranda Boroş ◽  
Piet Bracke ◽  
Peter A.J. Stevens
Keyword(s):  
Emotional Support ◽  
Personal Experience ◽  
Well Being ◽  
Support Network ◽  
Support Providers ◽  
Research Attention ◽  
Content Type ◽  
Informative Characteristic ◽  
Depth Interviews ◽  
Practical Implications

Purpose The purpose of this paper is to examine how repatriates’ emotional support network affects their experience of re-entry. Design/methodology/approach This inductive, qualitative study is based on 27 semi-structured, in-depth interviews with Belgian organizational repatriates. Findings The analyses suggest that expatriation empathy is a key attribute of organizational repatriates’ main emotional support providers. In addition, the results show that although partners are a main source of emotional support on re-entry, they are also important potential causes of distress. Lastly, the results suggest that the cultural diversity of a repatriate’s emotional support network is linked with characteristics of the assignment and that it affects the experience of repatriation. Research limitations/implications The results provide empirical evidence that the expatriation empathy of repatriates’ support providers is a more informative characteristic to consider compared with whether they have personal experience of expatriation. In addition, the results suggest that research should also take into account the negative side of social support, and, for example, consider the influence of crossover distress of partners who experience relocation difficulties themselves. Practical implications This study points to the possible benefits of organizing social activities or training for repatriates and their partner and any children, as well as the advantages of encouraging expatriates to invite home-country friends to visit. Originality/value Although most scholars agree on the importance of support for expatriates’ well-being, the sources of relevant emotional support have received little research attention so far, as has how this influences the repatriation experience.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

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