scholarly journals A Literature Review of Financial Contracting Theory from the Islamic and Conventional Overviews: Contributions, Gaps, and Perspectives

2019 ◽  
Vol 32 (2) ◽  
pp. 25-42
Author(s):  
Hassanuddeen Abdul Aziz Hassanuddeen Abdul Aziz
Keyword(s):  
Adverse Selection ◽  
Conflicts Of Interest ◽  
Point Of View ◽  
Future Research ◽  
Subjective Perception ◽  
Financial Contracting ◽  
Economic Agents ◽  
Participation Constraint ◽  
Contracting Theory ◽  
Selection Framework

This paper discusses the financial contracting theory from the conventional and Islamic perspectives. It provides an overview of the contributions in this field and discusses the gaps in the literature. In addition, it proposes two relevant approaches namely the financial contracting enforceability approach and the adverse selection analysis in order to deal with conflicts of interest among economic agents. The first approach is meant to assess the contract that maximizes the value of the firm subject to the enforcement constraint for the agent and the participation constraint for the principal. The second approach considers an adverse selection framework in order to determine the principal’s subjective perception of the risk of default when equity and debt financings are used. Similarly, it suggests avenues for future research. Firstly, it calls for a deeper understanding of venture capital as a potential model of mushārakah. Secondly, it puts stress on the importance of examining crowd-funding functioning from the principal-agent point of view. Thirdly, it sheds some light on the necessity to yield financial explanation about the excessive use of murābaḥah instead of ijārah. In a nutshell, we assume that the alternative approaches can be adopted to provide relevant insights regarding the proposed future researches.

Organizational Culture in the Focus of Improving Risk Management in the Enterprise

2020 ◽  
Vol 17 (4) ◽  
pp. 86-95
Author(s):  
R. M. Kachalov ◽  
Yu. A. Sleptsova
Keyword(s):  
Risk Management ◽  
Organizational Culture ◽  
Point Of View ◽  
Economic Risk ◽  
Management Activity ◽  
Economic Agents ◽  
Cultural Aspects ◽  
Industrial Enterprises ◽  
Operational Theory ◽  
Stable Forms

The article considers the manifestations of the phenomenon of economic risk in the socioeconomic ecosystems of industrial enterprises, examines and differentiates the pragmatic and cultural aspects of the concept of "economic risk management". In terms of methodology, the study is based on the operational theory of risk management, and also uses tools to describe the organizational culture of risk management. Pragmatic and cultural differences in the characteristics of economic risk are identified at the level of stable forms of management activity with the involvement of the main provisions of the operational theory of risk management. The phenomenon of risk is considered in the ontological space as an artificial category of activity of industrial enterprises and other economic agents that form a socio-economic ecosystem. This phenomenon is studied as a specific form of social communication associated with the desire to assess the uncertain future in the present time, mainly from the point of view of analysis and management of the level of economic risk in the enterprise.

Determinants of Co-creative Behaviour of Patients: A Case Study in Jammu

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Jyoti Sharma ◽  
Lata Raj ◽  
Anil Gupta
Keyword(s):  
Customer Value ◽  
Research Area ◽  
Point Of View ◽  
Customer Participation ◽  
Citizenship Behavior ◽  
Future Research ◽  
Creative Behavior ◽  
Customer Profiling ◽  
Customer Citizenship Behavior ◽  
Lifestyle Diseases

The purpose of this study is to measure the existence of co-creation behavior between doctors and patients. The research also studies customer participation and customer citizenship behavior as the dimensions of co-creative behavior and tries to establish the relationship between co-creative behavior and satisfaction. This study uses Yi and Gong (2013) scale for collecting data regarding co-creation behavior and its dimensions which are customer participation (CP) and customer citizenship behavior (CCB). The data was collected from 204 patients who were suffering from various chronic/lifestyle diseases and getting their treatment from private clinics in Jammu city. The study uses 7-point Likert scale in the questionnaire ranging from 1 completely disagree through 7 completely agree, with a midpoint labeled 4 neither agree nor disagree. The analysis of paper reflects that co-creation behavior is prevalent among the patients and not only participation but the citizenship behavior also affects the co-creation behavior of patients. The study is conducted from patients point of view whereas doctors perspective should also be used in future research. The research area is restricted to Jammu city only. The research provides several implications-doctors can also use this scale for market segmentation and customer profiling for maximizing customer value co-creation behavior by gaining the useful information.

Subjective Point of View of a Student on Ways of Subject Matter Structure Creation by the Teacher

2015 ◽  
Vol 5 (2) ◽  
pp. 148-171
Author(s):  
Denisa Gunišová ◽  
Jana Duchovičová
Keyword(s):  
Subject Matter ◽  
Point Of View ◽  
Subjective Perception ◽  
Cognitive Frames ◽  
Teacher Work ◽  
Approach To Teaching ◽  
The Subject ◽  
Definition Of ◽  
Level Of Understanding ◽  
Education Process

Authors in this contribution focus on issue of subject matter structure creation by the teacher as an important psycho-didactic domain of education process and how does a student perceive this structure. The aim of the teacher is not only to impart the knowledge to students but also to show them and teach them possible ways of how to understand the subject matter better and how to get to the fundamentals of it. Based on the structure of subject matter created by the teacher a student creates cognitive frames which become basis for his further learning. We pay attention to definition of epistemology of subject matter structure, questions of psycho-didactic approach to teaching, creating structure of subject matter and how does the teacher work with the text. Empirical part of the contribution investigates teachers' preferences of subject matter structure and statistically describes subjective perception of level of understanding of the subject matter by a student influenced by the particular subject matter structure realized by the teacher.

Alcohol and the Media: A Review and Critique of the ‘Effects’ Model

1982 ◽  
Vol 3 (2) ◽  
pp. 183-194 ◽  
Author(s):  
Nicholas Dorn ◽  
Nigel South
Keyword(s):  
Point Of View ◽  
Economic Consequences ◽  
Future Research ◽  
General Level ◽  
Alcohol Advertising ◽  
Social Drinking ◽  
The Media ◽  
Quantitative Changes ◽  
And Shifts ◽  
Qualitative Changes

A review of the available empirical material bearing upon the question of alcohol advertising having ‘effects’ on the general level of consumption suggests that this question is insufficiently precise as a basis for research. Studies suggesting some relationship between advertising for particular brands or products and shifts in brand or product use are potentially more interesting, if considered from a point of view that recognises that such shifts may involve shifts in milieux, comparisons, styles and meanings associated with consumption. Future research should be attentive to such qualitative changes in drinking practices attendant upon advertising or preventive campaigns (as well as to quantitative changes). The authors suggest that such quantitative and qualitative changes in drinking practices of individuals and social groups need to be considered within the context of more general, ideological and economic, consequences of alcohol advertising. These consequences-including reinforcement of images about ‘social drinking,’ and shifting of consumers onto more profitable products-consolidate the profitability of the alcohol industry (a consideration more important to the industry than levels of consumption per se). A framework broader than that of ‘effects’ on individuals' levels of consumption is required if health educators are to learn anything from advertising.

Rapid Thermal Processing-Based Heteroepitaxy: Material and Device Challenges

1995 ◽  
Vol 387 ◽  
Author(s):  
J. L. Hoyt ◽  
P. Kuo ◽  
K. Rim ◽  
J. J. Welser ◽  
R. M. Emerson ◽  
...  
Keyword(s):  
Thermal Processing ◽  
Rapid Thermal Processing ◽  
Atomic Layer ◽  
Layer Growth ◽  
Point Of View ◽  
Atomic Layer Epitaxy ◽  
Future Research ◽  
Layer By Layer ◽  
Limited Growth ◽  
Measurement And Control

AbstractMaterial and device challenges for Rapid Thermal Processing (RTP) of heterostructures are discussed, focusing on RTP-based epitaxy in the Si/Si1−xGex system. While RTP-based heteroepitaxy offers enhanced processing flexibility, it also poses significant challenges for temperature measurement and control. Several examples of Si/Si1−xGex device structures are discussed from the point of view of the sensitivity of device parameters to variations in layer thickness and composition. The measured growth kinetics for Si and Si1−xGex are then used to estimate growth temperature tolerances for these structures. Demanding applications are expected to require temperature control and uniformity to within 0.5°C.Future research challenges include the fabrication of structures with monolayer thickness control using self-limited growth techniques. Atomic layer epitaxy (ALE) is a well-known example of such a growth technique. In ALE, the wafer is cyclically exposed to different reactants, to achieve layer-by-layer growth. An RTP-based atomic layer epitaxy process, and its application to the growth of CdTe films, is briefly discussed. The extension to Column IV alloys follows readily. The RTP-based process enables self-limited growth for precursor combinations for which isothermal ALE is not feasible.

Knowledge assimilation by employees in learning organizations

2014 ◽  
Vol 21 (6) ◽  
pp. 350-368 ◽  
Author(s):  
Tali Marcus ◽  
Snunith Shoham
Keyword(s):  
Self Efficacy ◽  
Safety Information ◽  
Future Research ◽  
Subjective Perception ◽  
Content Type ◽  
Unique Nature ◽  
Knowledge Assimilation ◽  
The Subject ◽  
Powerful Explanation ◽  
Safety Procedures

Purpose – The purpose of this study is to examine the factors related to the employee as an individual, that affect the quality and level of the individual’s assimilation of knowledge (AOK) which is transmitted by way of organizational learning. Design/methodology/approach – All subjects (317) of this research were employed at different positions in day camps of a social organization. The study examined the subjects’ AOK relating to the organization’s security and safety procedures. The variables examined in this study include: the employee’s organizational commitment; the employee’s perception of the organization’s culture; the employee’s perception of the advantage inherent in the security and safety information; the employee’s self-efficacy; and the employee’s motivation to assimilate the new knowledge. Findings – The research variables explained a significant part (37 per cent) of the variance obtained with respect to assimilation and learning in the organization. The most powerful explanation for the variance in degree of implementation was the perception of the organization’s security and safety culture and the subject’s self-efficacy. Subjects’ perceived advantage from the knowledge did not make a significant contribution and motivation serves as a mediator but it does not mediate directly between the variables and AOK. Research limitations/implications – The research was conducted in a single organization. We recommend conducting similar studies in other organizations, including other types of organizations, to strengthen the conclusions which derive from our research. We also recommend that future research should use alternative methodologies (e.g. qualitative research and review of the results by experts) since other methodologies might reveal new facts that may have been uncovered in the use of the quantitative method applied in our research. Practical implications – We recommend that an organization which strives to be a learning organization, should pay attention, inter alia, to factors relating to the employees themselves, and in particular: increasing the employees’ self-efficacy, clarifying the benefits to the employee of the transmitted knowledge; and bringing the organization’s values and culture into clearer focus for the employees. Originality/value – The unique nature of our research model is twofold: first, the variables on which we have chosen to focus are different from other studies, and to our knowledge, the combination of these variables and the examination of these variables in relation to learning in the context of organizations have not been examined in other studies. Second, our model gauges the effects of an employee’s subjective perception with relation to his organization’s culture, his perceived advantage with regard to the subject-matter which he is learning and his self-assessed existing knowledge.

scholarly journals Difficulty in implementing continuous improvement – Rasch measurement analysis

2019 ◽  
Vol 25 (6) ◽  
pp. 1228-1250 ◽  
Author(s):  
Lidia Sanchez-Ruiz ◽  
Beatriz Blanco ◽  
Emma Diaz
Keyword(s):  
Continuous Improvement ◽  
Measurement Theory ◽  
Reliability And Validity ◽  
Rasch Measurement ◽  
Point Of View ◽  
Future Research ◽  
Theoretical Point ◽  
Content Type ◽  
Level Of Difficulty ◽  
New Perspective

Purpose The purpose of this paper is to define a general and common construct in order to measure the level of difficulty companies experience when they implement continuous improvement (CI). Additionally, a rank of barriers is obtained together with a rank of companies. Design/methodology/approach In order to achieve the objective, first, a literature review is carried out to specify the domain of the construct; second, a sample of items is selected; third a survey is carried out in companies that have already implemented CI initiatives, the results being thus limited to this population; fourth, measures are purified by analysing the reliability and validity of the measurements, and finally results are obtained. The Rasch measurement theory will be used to provide a new perspective on a mature research topic. Findings It can be concluded that a new valid construct has been defined together with a rank of CI barriers, being lack of time the main barrier. A rank of companies is also obtained which is a first step in the development of future research studies. Practical implications Managers are provided with a better understanding of the barriers that can obstruct CI implementation. Thus, the rank of CI barriers guides managers through the most common and important obstacles so that they will be able to plan better CI strategies. In addition, the rank of companies allows each company to undertake a benchmarking exercise. Originality/value This work proposes a new way of analysing the difficulty in implementing CI as a continuum, rather than as independent barriers. From a theoretical point of view, it defines a new construct and offers a rank of CI barriers together with a rank of companies based on their level of difficulty when implementing CI initiatives. This is something new, as previous studies were mainly focussed on the items side. From a practical point of view, this study offers the surveyed companies the opportunity to see how they are positioned with respect to the other companies. Moreover, this rank of companies is the foundation on which to develop further studies with a practical orientation in the future.

scholarly journals Linking the spare parts management with the total costs of ownership: An agenda for future research

2016 ◽  
Vol 9 (5) ◽  
pp. 991 ◽  
Author(s):  
Orlando Duran ◽  
Irene Roda ◽  
Marco Macchi
Keyword(s):  
Life Cycle ◽  
Conceptual Framework ◽  
Spare Parts ◽  
Point Of View ◽  
Management Decision ◽  
Future Research ◽  
Extensive Literature ◽  
Economic Point ◽  
Spare Parts Management ◽  
Physical Asset

Purpose: This manuscript explores the link between Spare Parts Management and Total Costs of Ownership or Life Cycle Costs (LCC).Design/methodology/approach: First, this work enumerates the different managerial decisions instances in spare parts management that are present during the life cycle of a physical asset. Second, we analyse how those decision instances could affect the TCO of a physical asset (from the economic point of view). Finally, we propose a conceptual framework for incorporating the spare parts management into a TCO model.Findings: The recent literature lacks discussions on the integration of spare parts management with the Total Costs of Ownership (TCO). Based in an extensive literature revision we can declare that the computation of costs related to spare parts management has been neglected by TCO models.Originality/value: The contribution of this paper is twofold. First, a literature review and identification of a series of spare parts management decision instances and its relationship with TCOs is presented in this paper. Second, a conceptual framework is suggested for linking those decisions instances to a total cost of ownership perspective. Some research questions and future research challenges are presented at the end of this work.

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