The possibilities of community redevelopment with Islamic finance

2019 ◽  
Vol 10 (2) ◽  
pp. 259-273
Author(s):  
Daniel Hummel ◽  
Ayesha Tahir Hashmi

Purpose The purpose of this paper is to explore the application of a profit and loss sharing approach to tax increment financing (TIF) districts in the USA. Design/methodology/approach A survey based on this approach was distributed to representatives of community redevelopment authorities (CRAs) in the State of Florida to ascertain practitioner feedback. Findings Although a majority of the respondents did not feel it was possible for political, economic and legal reasons, some did feel that it was a practical, reasonable and sustainable approach to financing projects for economic development. Some responses were correlated, with others indicating that certain beliefs framed their answers to the questions. Research limitations/implications The surveys were only distributed to CRAs in the State of Florida. Future research will need to include other CRAs in other states to make the findings more generalizable. In addition, the results are merely descriptive and are not an assessment of a successful application. Practical implications The need for more development in blighted areas of many cities across the USA will put emphasis on innovative approaches in financing this. The growth of Islamic finance in the USA and the regulatory framework for it might open a doorway for its application in this area. Originality/value This is the first attempt to apply an Islamic financing methodology to local economic development in the USA, with practitioner feedback.

2018 ◽  
Vol 8 (4) ◽  
pp. 451-468 ◽  
Author(s):  
Robert W. Robertson

Purpose The purpose of this paper is to provide an overview of the “skills gap” concerns that are increasingly prevalent in the USA and globally. In particular, the paper explores the current skills gap debate as a component of the American economy. This is an important issue as there is an increased economic uncertainty and global competition impacting many sectors. The paper specifically defines the current skills gap dilemma with respect to the USA and uses the Tampa, FL example of the practical implications of these concerns using recent survey and focus group data. Design/methodology/approach The research for this paper includes an outline of the economic development structures in place in Tampa, FL, a description of the existing mandate(s) to improve workforce training; the review of a key recent, public record report on workforce skills; and, the results of a focus group developed using key stakeholders. Initially, a public record document report titled Clarus Corporation (2013) “Hillsborough Community College: Workforce Development Scan” was reviewed to provide context and preliminary data to guide the research. In the second phase, a survey was conducted to develop a focus group of 18 key stakeholders in Hillsborough County. Nine of these stakeholders represented the education sector. These were purposefully selected from the Tampa Bay Higher Education Alliance (TBHEA) which represents approximately 30 regionally accredited academic institutions in the Tampa community (TBHEA, n.d.). In addition, another nine respondents were selected by purposeful selection representing employers who had experience with workforce training and development initiatives. Findings The group survey conducted for this paper confirms concerns by both employers and educators with respect to the existing and the future skill sets of employees. In particular, respondents note that basic skills such as communication and technical skills need more attention. Also, the focus group respondents confirm the importance of technical service certification. Fundamentally, economic development professionals, educators and employers need to develop and implement strategies and action plans to ensure that the skills gap be identified correctly and properly addressed. These initiatives must be developed with broad stakeholder input and these initiatives must be viewed as dynamic reflecting changing circumstances. Research limitations/implications This research should be viewed as exploratory in nature. The research could serve as a template to develop and track the concerns and issues of key stakeholders in the economic development process with respect to skills in the workforce on a regional or indeed a statewide basis. Practical implications Nations, states and local governments are more active in structuring workforce development support mechanisms and specific training opportunities to assist employees and businesses. All levels of government highlight the fact that they have skilled, competitive employees to assist in recruiting new companies to consider locating in their respective jurisdictions and in retaining companies. Social implications Having a clear understanding of the skills being demanded by employers as they strive to remain globally competitive is important. Local economic development officials, academicians and employers must be on the same page. Although relationships between these sectors are critical flexibility and adaptability are key to reflect changing demands. Originality/value The paper provides empirical evidence of the perceptions employers and educators have with respect to the skills gap issue in a fast growth jurisdiction. This jurisdiction promotes itself as having an abundant and skilled labor force. Data suggest that there are some concerns emerging from stakeholders.


2005 ◽  
Vol 22 (3) ◽  
pp. 353-368 ◽  
Author(s):  
Mark Peterson ◽  
Gary Gregory ◽  
James M. Munch

PurposeTo evaluate the cross‐regional equivalence of repair service quality for mission‐critical equipment.Design/methodology/approachUsing the five dimensions of SERVPERF as a framework, clinical laboratory directors across Europe and the USA were surveyed about repair service for mission‐critical equipment. Assessment of construct equivalence across the two regions was then performed using item bias analysis. Following this, assessment of model equivalence across the two regions was conducted using both the Chow test of model equivalence and regression in structural equation modeling (SEM).FindingsResults suggest that service quality in this B2B domain is perceived to be remarkably the same in both the USA and Europe.Research limitations/implicationsFuture research could focus on repair services for other types of mission‐critical equipment, and another region of the world, such as Asia. Both of these steps would boost the generalizability of the study's findings.Practical implicationsThe practical implications of the study's results suggest not only the applicability of the SERVPERF framework across these two regions, but also standardization possibilities in repair service for mission‐critical equipment because of the homogeneity evident in these markets regarding service quality.Originality/valueThis study should be valuable reading for those interested in issues related to service quality, as well as international services. The paper provides new insight into the relative importance of service quality dimensions, as the “responsiveness” dimension was found to be more than twice as important as any other dimension – even the “reliability” dimension.


2014 ◽  
Vol 9 (3) ◽  
pp. 232-244 ◽  
Author(s):  
Cassandra Thompson ◽  
Samuel Lane

Purpose – This study aims to evaluate both intelligence and job satisfaction of workers in the USA and China. Each topic will be studied individually, first, to determine the relationship between intelligence and job satisfaction. The statistics between China and the USA will then be compared and contrasted to assess how different cultures will affect emotional intelligence and job satisfaction of those in the workforce. Design/methodology/approach – A review of the empirical studies on intelligence and job satisfaction was performed and used to develop a model to guide future research. Findings – There is a negative relationship between intelligence and job satisfaction in the USA, but no studies have been done to compare both constructs cross-culturally. Research limitations/implications – The proposed study can be used to gain an understanding of the relationship between intelligence and job satisfaction across different cultures. Practical implications – The link between job satisfaction and intelligence can be used by employers to determine information about other aspects of their business, such as turnover rates of productive employees. Originality/value – Although there has been some research on the relation between intelligence and job satisfaction, notably by Ganzach (1998), very little has been done across cultures.


2016 ◽  
Vol 12 (1) ◽  
pp. 61-82 ◽  
Author(s):  
Alice de Jonge

Purpose – This paper aims to examine the potential for “triangular cooperation” between investment partners from Australia, China and host African nations to contribute to the economic development in Africa. Design/methodology/approach – The paper discusses a number of complementarities between Australian and Chinese investors in mining, agriculture, energy, research and education and finance – sectors vital to Africa’s future development. These complementarities are examined in light of recent development studies on the benefits of triangular cooperation and recent literature examining links between foreign direct investment (FDI) policy and economic development. Findings – The paper concludes that there is much to be gained by making the most of the existing and potential synergies between Australian, Chinese and local investors in African settings. Research limitations/implications – The implications of this paper are, first, that African nations should keep the benefits of triangular cooperation in mind when designing FDI policies and, second, that Australian and Chinese investors should be more willing to explore potential investment partner synergies when investing in Africa. The paper also suggests an agenda for future research into how good design of FDI policies might best promote healthy economic development in African nations. Practical implications – Australian and Chinese companies should be more willing to explore potential avenues for cooperation when investing in Africa, while African governments should be more mindful of how rules and policies can maximise the local benefits of FDI. Social implications – African governments should be more mindful of the quality, rather than the quantity of FDI when drafting relevant laws and policies. Originality/value – The value of the paper is in applying the concept of “triangular cooperation” to direct investment. The paper also provides an original focus on Australia-China investment synergies in African settings.


2017 ◽  
Vol 8 (4) ◽  
pp. 455-467 ◽  
Author(s):  
Daniel Hummel ◽  
Blake Goud

Purpose The purpose of this paper is to explore Islamic borrowing at the local level in redevelopment authorities in the USA through an ijara and esham framework. Design/methodology/approach A hypothetical example is approached with a real redevelopment authority in the City of Pompano Beach, Florida. Actual data from past borrowing in a tax increment financing district are compared to an Islamic financing approach to test for competitiveness to a conventional approach. Findings It was found that when incorporating a crowdsourced option along with an ijara and esham approach, the returns on investment are higher than for a conventional approach. The risk is higher, but the returns are also higher which possibly increases the incentive to invest in these options. Research limitations This scenario is only hypothetical and based on many assumptions. A real-world application of the approach would have to be attempted to confidently determine its viability. Practical implications The potential competitiveness of this financing approach as well as its higher sustainability makes this a favorable approach for local redevelopment authorities to implement for needed money for infrastructure projects in blighted areas of the city. It is also of interest to Muslim countries that are devolving authority to their local governments. Originality/value This paper considers an alternative approach to tax increment financing which relies on a revenue sharing arrangement called an esham–ijara and esham–sukuk risk-sharing structure in Islamic financing terminology. There is currently very little discussion of esham in Islamic finance and no discussion of the application of Islamic finance to local economic development enterprises.


2020 ◽  
Vol 6 (3) ◽  
pp. 241-254
Author(s):  
Diana Baker ◽  
Helen McCabe ◽  
Mary Kelly ◽  
Tian Jiang

Purpose Findings from a comparative qualitative study with parents in the USA and China increase the understanding of experiences of adults with autism in both countries. Design/methodology/approach Semi-Structured interviews were conducted with families in the USA and in China. In total, 18 families participated in the study – 7 in the USA, 11 in China. Findings Analysis of the comparative data led to the emergence of three overarching themes, expressing both similarities and differences in experiences: 1) transition to adult services plays out differently in the two nations, 2) parent advocacy and efforts in supporting and securing services for their children are strong in both countries but are also defined by the variability in access to services and 3) due to the scarcity of adult services in their country, Chinese parents express significantly more worries about their own aging and mortality as compared with USA parents. Research limitations/implications Practical implications and directions for future research are discussed. Originality/value By examining the experiences of families of adults with autism in the USA and China, the research reveals themes that would not be visible in a single-nation study.


2014 ◽  
Vol 29 (1) ◽  
pp. 63-74 ◽  
Author(s):  
Debra Zahay ◽  
James Peltier ◽  
Anjala S. Krishen ◽  
Don E. Schultz

Purpose – The objective of this paper is to investigate IMC metrics in the lens of an institution-wide change management process, and to do so, the authors develop and test an organizational data quality enhancement model. Design/methodology/approach – Qualitative research was conducted, with a follow-on quantitative pre-test. A subsequent, larger-scale quantitative survey resulted in a total of 128 responses, 124 useable. A regression analysis was conducted using the factor scores of the six organizational dimensions as independent variables and overall data quality as the dependent variable. Findings – The findings show that overcoming poor IMC data quality requires a corporate culture that reduces cross-functional and departmental divides. The authors also support the idea that horizontally organized learning organizations not only have superior IMC data, but they also achieve higher rates of return on their cross-platform IMC efforts. Research limitations/implications – The research has limitations in terms of substantive generalizability, since it focuses on one industry within the USA. Future research can expand to other industries and expand to a global setting in order to replicate these findings. Practical implications – Most improvement seems to be needed in the area of sharing customer data. The findings provide a signal to marketing organizations that want to connect with their customers that data quality must be a strategic priority, with appropriate processes in place to manage data at every touch point. Originality/value – Research is needed that establishes effective methods for measuring the success of data-driven communication efforts to support management.


2018 ◽  
Vol 7 (4) ◽  
pp. 411-427 ◽  
Author(s):  
Alexander Salter

Purpose The purpose of this paper is to develop a theory of sovereign entrepreneurship, which is a special kind of political entrepreneurship. Design/methodology/approach This paper uses qualitative methods/historical survey. Findings Sovereignty is rooted in self-enforced exchange of political property rights. Sovereign entrepreneurship is the creative employment of political property rights to advance a plan. Research limitations/implications Because a polity’s constitution is determined by its distribution of political property rights, sovereign entrepreneurship and constitutional change are necessarily linked. The author illustrated how sovereign entrepreneurship can be applied by using it to explain the rise of modern states. Practical implications In addition to studying instances of sovereign entrepreneurship in distant history, scholars can apply it to recent history. Sovereign entrepreneurship can be especially helpful as a tool for doing analytic narratives of low-n cases of political-economic development, especially when those polities attract interests for being “development miracles.” Originality/value This paper uses treats sovereignty as a political property right.


2019 ◽  
Vol 24 (1) ◽  
pp. 115-127
Author(s):  
Simone Mariconda ◽  
Alessandra Zamparini ◽  
Francesco Lurati

Purpose The purpose of this paper is to conceptually develop and empirically test a model according to which a crisis leads to a greater reputational damage when it is highly relevant to the firm’s organizational identity or highly relevant to stakeholders’ identity. Design/methodology/approach A total of 299 participants based in the USA were recruited online using the Amazon Mechanical Turk platform. The study uses a 2 (relevance of crisis to organizational identity: low vs high) × 2 (relevance of crisis to stakeholders’ identity: low vs high) between-subjects experimental design. Findings The results confirm the hypotheses that an organizational crisis leads to greater reputational damage when it is highly relevant to the firm’s organizational identity or when it is highly relevant to stakeholders’ identity. No significant interaction between the two variables was found. Research limitations/implications Future research could focus on further elaborating on how the two identity-related variables tested in this paper interact with other variables that have already been studied for moderating the effects of crises on reputation damage. Practical implications The paper reaffirms the deep interconnection between identity, stakeholders and reputation. Concretely, the results of the study suggest an informative way of mapping the degree to which risks or issues could potentially damage organizational reputation. Originality/value The paper contributes to the literature by providing a more situational understanding of how the same exact crisis can damage the reputation of organizations differently. By doing so, the paper opens several new avenues for future research.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mirek Tobiáš Hošman

Purpose Although officially ended in July 2020, China’s dispute about its non-market economy (NME) status at the World Trade Organization (WTO) is far from being resolved. The NME status enables China’s counterparts to disregard Chinese prices in antidumping proceedings and instead use the so-called surrogate country methodology. This paper aims to structure and analyze the complex debate, which emerged with the disputes China has filed against the European Union and the USA at the WTO, and therefore provide a point of reference for future analysis of and debates about China’s NME status. Design/methodology/approach The analysis is based on the existing academic literature on the topic and on the legal WTO-related documents (e.g. multilateral agreements, China’s Accession Protocol, legal findings of the WTO dispute panels). Findings Four different interpretations of the respective legal documents about China’s NME status are discussed and strong and weak aspects of these interpretations are pointed out. Also, several misunderstandings and mistakes appearing in the debate are clarified. Practical implications As the question of China’s position at the WTO and its NME status has not been resolved yet and some authors believe that China will pursue its case again once the WTO Appellate Body revives its functionality, the analysis of the debate can serve as a point of reference for the academic debate and the future research on this topic. Moreover, it offers an introduction to China’s NME position at the WTO for the newcomers to this topic. Originality/value Although China’s NME status has been much discussed, there is no literature review that would structure the debate and point out some of the (dis)advantages of the respective arguments and interpretations. Rather than adding to the large corpus of literature about the NME status, this study takes this corpus as the object of its analysis.


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