Conventional bank and Islamic banking as institutions: similarities and differences

Humanomics ◽  
2015 ◽  
Vol 31 (3) ◽  
pp. 272-298 ◽  
Author(s):  
Wan Hakimah Wan Ibrahim ◽  
Abdul Ghafar Ismail
Keyword(s):  
Financial Institution ◽  
Legal Environment ◽  
Political Aspect ◽  
Content Type ◽  
Islamic Financial Institutions ◽  
Financial Contract ◽  
Ethical Role ◽  
Conceptual Paper ◽  
Similarities And Differences

Purpose – The aim of this paper is to discuss the similarities and differences of both conventional and Islamic financial institutions from various institutional perspectives. Design/methodology/approach – This conceptual paper describes the insights held by the financial institution theory which is discussed from the perspectives of the economics of the financial institution, legal environment, the political aspect of an institution, the philosophical underpinning, the components of institution and also the ethical role of institution. Then, this paper will proceed to justify the similarities and differences that have been observed between both institutions. Findings – Discussions in this paper will reveal that specifically specific similarity is prevalent on the nature of the supervisory role. The differences between both institutions from the aspects of business organization, economic roles and law of origin have also been found. Research limitations/implications – The similarities and differences that are established on both institutions will affect the structure of the financial contract and the design of financial systems. Originality/value – The paper will contribute a new knowledge specifically on the design of the Islamic financial contract based on Shariah law at the initial phase.

scholarly journals Paradox and market renewal

2018 ◽  
Vol 36 (7) ◽  
pp. 750-763 ◽  
Author(s):  
Joel Hietanen ◽  
Pekka Mattila ◽  
Antti Sihvonen ◽  
Henrikki Tikkanen
Keyword(s):  
Design Methodology ◽  
Content Type ◽  
Conceptual Paper

Purpose The purpose of this paper is to continue the emerging stream of literature that has found knockoffs and counterfeits to be unobtrusive or even beneficial to luxury companies by analyzing how they produce paradoxes of meaning and contribute to the renewal of luxury markets. This is done by exploring them as doppelgänger brand images that reappropriate brand imagery for their own purposes. Design/methodology/approach This is a conceptual paper that focuses on the role of knockoffs and counterfeits in the renewal of luxury markets. Findings The findings highlight how knockoffs and counterfeits can contribute to the emergence and cyclical diffusion of luxury. As luxury offerings are introduced to the market, knockoffs and counterfeits accelerate the snob effect, aid in anchoring trends and contribute to induced obsolescence. During diffusion, knockoffs and counterfeits can strengthen aspiration, bandwagon and herding effects. In doing so, knockoffs and counterfeits create a paradox as they simultaneously legitimize the idea of the “authenticity” of genuine offerings through their presence in the market and create cyclical demand for novel offerings by undermining the authenticity claims of existing luxury offerings. Thus, knockoffs and counterfeits can be understood as a paradox of luxury markets that contributes to the market cyclicality not despite but because of this paradoxical interplay. Originality/value While research on knockoffs and counterfeiting is plentiful in the field of marketing, this is among the few studies that analyze how these offerings contribute to luxury markets and their renewal.

Understanding level 5 leaders: the ethical perspectives of leadership humility

2017 ◽  
Vol 36 (5) ◽  
pp. 724-732 ◽  
Author(s):  
Cam Caldwell ◽  
Riki Ichiho ◽  
Verl Anderson
Keyword(s):  
Research Information ◽  
Content Type ◽  
Building Trust ◽  
Good To Great ◽  
Conceptual Paper ◽  
The Relationship ◽  
Follower Trust ◽  
Practical Implications ◽  
Ethical Perspectives

Purpose The purpose of this paper is to explore the ethical perspectives of leadership humility. Jim Collins, in his seminal work, Good to Great, noted that all great organizations are led by “Level 5 leaders (L5Ls).” These leaders exhibit fierce resolve, but incredible humility. This paper examines the nature of humility and its assumptions associated with 12 frequently cited ethical perspectives. Humility builds high follower trust and commitment so often lacking in the modern organization. The paper identifies four practical contributions for scholars and leaders who seek to understand the role of humility in leadership effectiveness. Design/methodology/approach This paper is a conceptual paper which relies heavily on research from the current literature about leadership, trust, and humility. Findings This paper compares humility with 12 well-regarded ethical perspectives and presents humility as an ethically-relevant leadership construct that helps leaders to build trust, commitment, and followership. Research limitations/implications Because this paper is not an empirical study, it does not present research information, propositions, or hypotheses. Practical implications This paper suggests that leaders can be more effective if they come to understand the implicit ethical nature of leadership and the importance of humility in building trust. Originality/value Although Collins’ research about great organizations identified the importance of Level 5 leadership 15 years ago, very little has been written about the nature of humility as a leadership virtue. More importantly, this paper is among the first to identify the relationship between ethics and humility for L5Ls.

scholarly journals Zooming out: actor engagement beyond the dyadic

2018 ◽  
Vol 29 (3) ◽  
pp. 333-351 ◽  
Author(s):  
Matthew J. Alexander ◽  
Elina Jaakkola ◽  
Linda D. Hollebeek
Keyword(s):  
Structuration Theory ◽  
Multiple Roles ◽  
Content Type ◽  
Meta Level ◽  
Analytical Perspective ◽  
Conceptual Paper ◽  
Multiple Levels ◽  
Service Ecosystem ◽  
Organizational Mechanisms

Purpose The purpose of this paper is to broaden extant understanding of actor engagement behavior beyond its currently dominant dyadic (micro-level) focus, by examining it from multiple levels of aggregation within a service ecosystem framework. Design/methodology/approach This conceptual paper draws on service-dominant logic and structuration theory as theoretical lenses to inform engagement research. Findings By means of a stepwise exercise of “zooming out,” the paper introduces a multi-perspective (micro-, meso-, macro- and meta-level) view of actor engagement that develops understanding of multiple engagement contexts, and suggests that balancing multiple roles may result in actor disengagement behavior. The role of reference groups and role conflict associated with balancing multiple roles is critical to understanding why engaged actor proclivities may wax and wane between contexts. Research limitations/implications The paper offers a set of five propositions that can be utilized by engagement scholars undertaking further research in this area. Practical implications Firms need to understand the values and norms embedded in diverse engagement contexts which can affect actor groups’ needs and motivations. Firms should develop appropriate organizational mechanisms to facilitate (rather than impede or obstruct) the desired behaviors of engaged actors. Originality/value The broader context within which engaged actors operate, and its effects on engagement, has been largely overlooked to date. By broadening the analytical perspective on engagement beyond the dyadic this paper reveals previously unaddressed aspects of this phenomenon, such as the role of disengagement behavior, and the effects of multiple engagement contexts on actors’ future behaviors.

Fear after being fired: the moderating role of resilience in lessening the time between employment

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alex Scrimpshire ◽  
Marcia Lensges
Keyword(s):  
Personality Trait ◽  
Design Methodology ◽  
Affective Events Theory ◽  
Content Type ◽  
Future Analysis ◽  
Natural Response ◽  
Conceptual Paper ◽  
Job Termination ◽  
Moderating Role

PurposeThe purpose of this paper is to study how the interplay of the emotion of fear and the personality trait of resilience affect time to reemployment after job termination. The authors carried out the research by extending affective events theory (AET) beyond the workplace.Design/methodology/approachThis paper is a conceptual paper intended to lay the groundwork for future analysis in the areas of fear and resilience, specifically in the time after job termination.FindingsThe paper suggests that fear is a natural response to job termination, and there are two responses to fear: one of action to rid oneself of fear (“fight or flight”) and one of paralysis, in which an individual remains in a fear state. The authors put forth that one's level of resilience is a factor in determining time to reemployment.Originality/valueWhile there are numerous studies on the role emotions play in the workplace and in particular, the role of fear about potentially getting fired, there are few, if any, studies on the role of fear after losing a job. The authors feel this is a warranted area of study as fear can have both positive and negative responses. The authors also contend that a major diver of these fear responses is an individual's level of resilience, and this can be a significant predictor of the individual's time to reemployment.

The truth (as I see it): philosophical considerations influencing a typology of fake news

2019 ◽  
Vol 29 (2) ◽  
pp. 150-158
Author(s):  
Caitlin Candice Ferreira ◽  
Jeandri Robertson ◽  
Marnell Kirsten
Keyword(s):  
Knowledge Creation ◽  
Design Methodology ◽  
Alternative View ◽  
Extensive Literature ◽  
Fake News ◽  
Power Structures ◽  
Content Type ◽  
Conceptual Paper ◽  
Practical Implications

Purpose The purpose of this paper is to provide an overview of the philosophical considerations of fake news and provide an alternative view to current conceptualizations of its binary nature. Through an evaluation of existing research, a typology of fake news is presented that considers the possibility that the propagation of fake news about a brand, may be stemming from the brand itself, a previously unexplored field in the literature. Design/methodology/approach This is a conceptual paper based on extensive literature review on the fields of fake news and knowledge creation, resulting in the creation of a synthesized typology. Findings The role of power structures greatly influences the ability for a brand to respond to fake news. Externally constructed disinformation is seemingly more difficult for a brand to address, as a result of having limited control over the message. Internally constructed information, while stemming from the brand itself provides the brand with more control, but a greater public distrust as the source of the fake news seems to confirm the disinformation. Practical implications This paper presents a typology that contrasts the source of the construction of disinformation and the extent to which the facts have been fabricated. Furthermore, this paper provides future researchers with an alternate understanding of the conceptualization of fake news. Originality/value This paper is the first of its kind to establish a typology of fake news on the basis of the source of construction of disinformation. The source plays an important role when assessing the associated brand risks and developing an approach to combat potential negative implications.

Leadership, governance and the mitigation of risk: a case study

2015 ◽  
Vol 30 (2) ◽  
pp. 132-159 ◽  
Author(s):  
Jim Rooney ◽  
Suresh Cuganesan
Keyword(s):  
Risk Management ◽  
Social Relations ◽  
Financial Institution ◽  
Single Case ◽  
Management Control ◽  
Management Decision ◽  
Content Type ◽  
Management Controls

Purpose – The purpose of this study is to examine how managers in financial institutions satisfy themselves of the effectiveness of risk mitigation strategy and management control. It studies the co-opting of accounting tools within a single financial institution case study, examining the recursive and emergent characteristics of risk management practice. Design/methodology/approach – Adopting a field study approach within the strategy-as-practice perspective, the paper provides insights into the role of actor perceptions of risk and accounting as a calculative practice in the adaptive enactment of risk strategy. Findings – Results highlight the interactions between risk management strategy, management controls and actor interests at Lehman Brothers. The actions and reactions of risk management decision-makers such as Executive Committee and Board members are examined to better understand the role of accounting and leadership. Research limitations/implications – Results of this study may not be generalised beyond this single case study. Practical implications – The paper emphasises that concern for the social relations and the performative interests of actors in a risk management network needs to be understood and considered in accounting research. It is argued that the market prices of tradable financial asset will continue to be opaque without these insights. Originality/value – This study explores an under-researched topic in the accounting literature in examining how management controls are affected by and, in turn, affect risk strategising.

Differences in accounting treatment of Ijarah: a case study of UAE Islamic banks

2015 ◽  
Vol 8 (3) ◽  
pp. 369-379 ◽  
Author(s):  
Namrata Gupta
Keyword(s):  
Information Disclosure ◽  
Financial Institution ◽  
International Markets ◽  
Islamic Banks ◽  
Content Type ◽  
Central Tenet ◽  
Islamic Financial Institutions ◽  
Original Case ◽  
The Right

Purpose – This paper aims to discuss the accounting treatment of one of the most popular instruments of financing in Islamic banks, which is Islamic leasing or Ijarah. This research undertakes an empirical investigation of the accounting practices of Ijarah followed by UAE’s Islamic banks. The main objective of this paper is to compare the accounting practices followed by UAE Islamic banks and accounting practices recommended by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for the accounting treatment of Ijarah. Design/methodology/approach – This study also aims to examine the justification and explanation behind this practice and clarify the accounting treatment of Ijarah as defined in the regulatory framework and standards. Findings – The author has found that the accounting treatment of Ijarah practiced by four UAE Islamic banks, it is clear that all of them are following IAS-17 and not FAS-8 of AAOIFI. The main difference is: FAS-8 issued by AAOIFI suggests that the accounting treatment for both Ijarah and Ijarah Muntahia Bittamleek be similar to operating lease transactions with certain exceptions. On the other hand, these Islamic banks are accounting for Ijarah as a financing transaction, just like finance lease – in accordance with IAS-17. Research limitations/implications – Taking out the right information from banks officials regarding Ijarah was a big hassle. Practical implications – After considering the above-mentioned points, according to the researcher, Western accounting standards are not appropriate to be applied in Islamic financial institution because of their different nature and treatment of financial instruments. Therefore, Islamic banks and other Islamic finance professionals should consider making the standards of AAOIFI mandatory, and they should stick to these standards for information disclosure, building investors’ confidence, monitoring and surveillance. These standards would also ensure the integration of Islamic financial markets with international markets. Social implications – This study also aims to examine the justification and explanation behind this practice of bankers when the researcher approached these four banks, their officials mentioned that Ijarah contracts are similar to conventional form of financing, and it does not involve the central tenet of Islamic capitalism, i.e. to share risk and profit; therefore, they are justified and convinced to adopt IAS-17 in accounting for Ijarah transactions. Originality/value – It is an original case study based on secondary research data.

Machiavellianism, locus of control, moral identity, and ethical leadership among public service leaders in Malaysia: the moderating effect of ethical role modelling

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nor Farah Hanis Zainun ◽  
Johanim Johari ◽  
Zurina Adnan
Keyword(s):  
Locus Of Control ◽  
Public Sector ◽  
Public Service ◽  
Ethical Leadership ◽  
Structural Equation ◽  
Moral Identity ◽  
Content Type ◽  
Role Modelling ◽  
Ethical Role

PurposeThe objective of this study is to examine the predicting role of Machiavellianism, locus of control and moral identity on ethical leadership. This study also assessed the moderating role of ethical role modelling in the linkage between Machiavellianism, locus of control, moral identity and ethical leadership.Design/methodology/approachA total of 202 public service leaders in Malaysia participated in the study. A quantitative study was conducted and structural equation modelling was used to test the hypotheses.FindingsMoral identity poses a substantial influence on ethical leadership. Ethical role modelling is a significant moderator in the association between moral identity and ethical leadership.Research limitations/implicationsThis study contributes to the social learning theory by assessing Machiavellianism, locus of control and moral identity as the predictors of ethical leadership among public service leaders in Malaysia. Future study can be further extended to both managerial and support staff to understand the ethical phenomenon in Malaysian public sector.Practical implicationsThe study highlights the need for public sector to give considerable attention to moral identity in boosting ethical leadership among public service leaders in Malaysia's public sector. Furthermore, the element of ethical role modelling should not be neglected as this factor is a valid moderator in nurturing ethical leadership among public service leaders.Originality/valueThe study deepens the knowledge on the importance of ethical role modelling as a moderator in assessing the influence of the predictors on ethical leadership. Further, this study demonstrates that public service leaders who reported high moral identity would have higher ethical leadership if they experienced good ethical role modelling.

scholarly journals Beyond books: the concept of the academic library as learning space

2016 ◽  
Vol 117 (5/6) ◽  
pp. 308-320 ◽  
Author(s):  
Lee Fallin
Keyword(s):  
Academic Libraries ◽  
Academic Library ◽  
User Engagement ◽  
Learning Spaces ◽  
Learning Space ◽  
Content Type ◽  
Spatial Approach ◽  
Wide Range ◽  
Conceptual Paper

Purpose The paper aims to explore the issues surrounding the user conceptualisation of academic libraries. The paper will solidify the role of academic libraries as learning spaces and problematise how libraries are conceptualised by users. Design/methodology/approach The paper is a literature-based conceptual paper and draws on a wide range of literature to challenge the concept of academic libraries and presents how they are becoming reframed as different spaces. Findings The paper argues that the concept of a library is at risk. While libraries have undergone substantial changes, the concept of a library has lingered. This paper demonstrated that libraries need to proactively engage users in this debate. Originality/value The spatial approach taken by this paper demonstrates the complicity behind the user conceptualisation of libraries. Developing an understanding of this process is an important foundation for libraries to develop their user engagement.

Spiritual quotient towards organizational sustainability: the Islamic perspective

2017 ◽  
Vol 13 (2) ◽  
pp. 163-170 ◽  
Author(s):  
Sohail Akhtar ◽  
Mohd Anuar Arshad ◽  
Arshad Mahmood ◽  
Adeel Ahmed
Keyword(s):  
Design Methodology ◽  
Well Being ◽  
Future Research ◽  
Organizational Sustainability ◽  
Content Type ◽  
Spiritual Awareness ◽  
Islamic Perspective ◽  
Conceptual Paper ◽  
The Impact

Purpose The purpose of this paper is to explore the impact of spiritual quotient (SQ) on the organisational sustainability from the Islamic perspective. Till date, many organisations around the world are facing environmental, social and economic issues affecting their organisational sustainability. Design/methodology/approach The present paper is conceptual paper based on literature review on employee’s behavioural issues and role of SQ for organisational sustainability. Findings This present paper argues that SQ must be considered as the important factor for employee development in the organisation. It develops spiritual awareness among employees which enhances their productivity within the organisation. Furthermore, SQ is necessary means of identifying and harnessing deeper inner resources with the capacity to care for the well-being of the organisation and advance its development. Research limitations/implications The paper suggests SQ and its multi-dimensions with the implication for future research in organisational sustainability. Originality/value The paper discusses the development of the concept of SQ from the Islamic perspective.

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