Savedrecs

FN Clarivate Analytics Web of Science
VR 1.0
PT J
AU Nomran, NM
Haron, R
AF Nomran, Naji Mansour
Haron, Razali
TI Dual board governance structure and multi-bank performance: a
comparative analysis between Islamic banks in Southeast Asia and GCC
countries
SO CORPORATE GOVERNANCE-THE INTERNATIONAL JOURNAL OF BUSINESS IN SOCIETY
LA English
DT Article
DE Islamic banks; Dual board governance; Islamic performance measurement;
Shari'ah supervisory board
ID SOCIAL-RESPONSIBILITY DISCLOSURE; CORPORATE GOVERNANCE; FIRM
PERFORMANCE; FINANCIAL INSTITUTIONS; CAPITAL STRUCTURE; ISSUES; RISK;
DETERMINANTS; OWNERSHIP
AB Purpose This paper aims to examine the effect of dual board governance
structure, i.e. Shari'ah supervisory board (SSB) and board of directors (BoD), on
the performance of Islamic banks (IBs) in Southeast Asia region versus banks in the
Gulf Cooperation Council (GCC) region. Design/methodology/approach This study uses
a sample of 45 IBs over seven countries covering the period of 2007-2015 based on
the GMM estimator - First Difference (2-step). Findings The findings reveal that
SSB and BoD for IBs in both regions are segmented in terms of ROA (negative
interaction) and integrated in terms of Zakat ratio (Zakat on equity [ZOE])
(positive interaction) only for Southeast Asia region. Furthermore, SSBs positively
affect multi-bank performance in Southeast Asia while its effect is absent for GCC.
This suggests that Shari'ah governance practices for IBs in Southeast Asia are
stronger compared to GCC IBs. Finally, BoD has a significant association with low
ZOE for IBs in both the regions. Research limitations/implications - The
implications of this research is that the unique agency theory depicted in this
study can be inferred when analyzing how dual board structure affects IBs'
performance. Practical implications - For regulators in both regions, SSBs must be
given real power to monitor BoD. They should also balance the number of SSB
scholars with experience in Shari'ah, as well as in law, accounting and finance. It
is also important that such a balance of scholars with PhD in these areas be
required for Southeast Asia IBs. For the GCC's regulators, CG practices need to be
improved by giving due importance to SSB characteristics and BoD structure.
Originality/value Though the effects of dual board structure on IBs' performance
has been previously examined in the literature, only SSB size has been used as a
single proxy of SSB governance. Furthermore, no empirical evidence is recorded to
date on this issue in Southeast Asia and the GCC regions. One of the innovations of
this paper is the use of multi-bank performance measures in the IBs performance and
corporate governance.
C1 [Nomran, Naji Mansour] Thamar Univ, Fac Sci Adm, Dept Finance & Banking, Thamar,
Yemen.
[Haron, Razali] IIUM Inst Islamic Banking & Finance, Kuala Lumpur, Malaysia.
RP Haron, R (corresponding author), IIUM Inst Islamic Banking & Finance, Kuala
Lumpur, Malaysia.
EM naji_nomran@yahoo.com; hrazali@iium.edu.my
RI Haron, Razali/AAG-3205-2019
OI Haron, Razali/0000-0003-0415-4093
NR 44
TC 3
Z9 3
U1 7
U2 10
PU EMERALD GROUP PUBLISHING LTD
PI BINGLEY
PA HOWARD HOUSE, WAGON LANE, BINGLEY BD16 1WA, W YORKSHIRE, ENGLAND
SN 1472-0701
EI 1758-6054
J9 CORP GOV-INT J BUS S
JI Corp. Gov.-Int. J. Bus. Soc.
PD DEC 2
PY 2019
VL 19
IS 6
BP 1377
EP 1402
DI 10.1108/CG-10-2018-0329
PG 26
WC Business
SC Business & Economics
GA JN6HY
UT WOS:000496998400014
DA 2020-08-12
ER
PT J
AU Cai, CW
Linnenluecke, MK
Marrone, M
Singh, AK
AF Cai, Cynthia W.
Linnenluecke, Martina K.
Marrone, Mauricio
Singh, Abhay K.
TI Machine Learning and Expert Judgement: Analyzing Emerging Topics in
Accounting and Finance Research in the Asia-Pacific
SO ABACUS-A JOURNAL OF ACCOUNTING FINANCE AND BUSINESS STUDIES
LA English
DT Article
DE Accounting research; Asia-Pacific; Environmental finance; Finance
research; Research agenda; Research trends; Review; Entity linking
ID ISLAMIC BANKS; INVESTMENT EFFICIENCY; POLITICAL CONNECTIONS; CORPORATE
GOVERNANCE; PERFORMANCE EVIDENCE; REPORTING STANDARDS; SEMANTIC
ANNOTATION; IFRS; ADOPTION; EQUITY
AB In this paper, we focus on the question to what extent machine learning (ML)
tools can be used to support systematic literature reviews. We apply a ML approach
for topic detection to analyze emerging topics in the literature-our context is
accounting and finance research in the Asia-Pacific region. To evaluate the
robustness of the approach, we compare findings from the automated ML approach with
the results from a manual analysis of the literature. The automated approach uses a
keyword algorithm detection mechanism whereby the manual analysis uses common
techniques for qualitative data analysis, that is, triangulation between
researchers (expert judgement). From our paper, we conclude that both methods have
strengths and weaknesses. The automated analysis works well for large corpora of
text and provides a very standardized and non-biased way of analyzing the
literature. However, the human researcher is potentially better equipped to
evaluate current issues and future trends in the literature. Overall, the best
results might be achieved when a variety of tools are used together.
C1 [Cai, Cynthia W.] Charles Sturt Univ, Bathurst, NSW, Australia.
[Linnenluecke, Martina K.; Marrone, Mauricio; Singh, Abhay K.] Macquarie Univ,
Macquarie Business Sch, N Ryde, NSW, Australia.
RP Cai, CW (corresponding author), Charles Sturt Univ, Bathurst, NSW, Australia.
EM cynthia.pvic@gmail.com
OI Marrone, Mauricio/0000-0003-3896-6049; Cai, Cynthia
Weiyi/0000-0002-4216-843X; Singh, Abhay/0000-0002-3783-6325
NR 112
TC 0
Z9 0
U1 5
U2 5
PU WILEY
PI HOBOKEN
PA 111 RIVER ST, HOBOKEN 07030-5774, NJ USA
SN 0001-3072
EI 1467-6281
J9 ABACUS
JI Abacus
PD DEC
PY 2019
VL 55
IS 4
BP 709
EP 733
DI 10.1111/abac.12179
PG 25
WC Business, Finance
GA LA9EG
UT WOS:000524242500003
DA 2020-08-12
ER
PT J
AU Basiruddin, R
Ahmed, H
AF Basiruddin, Rohaida
Ahmed, Habib
TI Corporate governance and Shariah non-compliant risk in Islamic banks:
evidence from Southeast Asia
LA English
DT Article
DE Malaysia; Indonesia; Islamic bank; Corporate governance; Shariah
committee; Shariah governance; Shariah non-compliant risk
ID EXECUTIVE-COMPENSATION; EARNINGS MANAGEMENT; STAKEHOLDER THEORY; BOARD
SIZE; FIRM; INDEPENDENCE; PERFORMANCE; OWNERSHIP; INCENTIVES; COMPANIES
AB Purpose
This study aims to investigate the relationship between corporate governance and
Shariah non-compliant risk (SNCR) that is unique for Islamic banks. The study
examines the roles of Shariah committee along with the board of directors in
mitigating SNCR.
Design/methodology/approach
The paper empirically investigates the implications of characteristics of board
of directors and Shariah committee on the SNCR by using a sample of 29 full-fledge
Islamic banks from Malaysia and Indonesia over the period 2007-2017. All data is
hand collected from the Islamic banks' annual reports with the exception of
country-level data collected from the World Bank database.
Findings
The results show that banks with a smaller board size and higher proportion of
independent board members are likely to have lower SNCR. The findings also indicate
that the financial expertise and higher frequency of Shariah committee meetings
reduces the SNCR. Collectively, the analysis shows that banks with strong corporate
governance environments reduce SNCR.
Practical implications - The findings of the study shed light on the
relationship between corporate governance practice, Shariah committee
characteristics and SNCR. The results can be used by different stakeholders such as
policymakers, boards of directors and senior management of Islamic banks to
mitigate SNCR.
Originality/value
This study extends the literature on corporate governance and risk-taking by
including additional dimensions of governance and risk type. The corporate
governance mechanism at the board level is complemented by including the Shariah
committee characteristics and SNCR which is relevant to Islamic financial
institutions is examined.
C1 [Basiruddin, Rohaida] Univ Teknol Malaysia, Azman Hashim Int Business Sch, Kuala
Lumpur, Malaysia.
[Ahmed, Habib] Univ Durham, Sch Business, Durham, England.
RP Ahmed, H (corresponding author), Univ Durham, Sch Business, Durham, England.
EM rohaida@ibs.utm.my; habib.ahmed@durham.ac.uk
RI BASIRUDDIN, ROHAIDA/D-8631-2018
OI BASIRUDDIN, ROHAIDA/0000-0002-3743-2427
NR 101
TC 1
Z9 1
U1 1
U2 1
PI BINGLEY
SN 1472-0701
EI 1758-6054
PD NOV 22
PY 2019
VL 20
IS 2
BP 240
EP 262
DI 10.1108/CG-05-2019-0138
PG 23
WC Business
GA KN9IC
UT WOS:000515159800001
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Hassan, AFS
Haridan, NM
AF Hassan, Ahmad Fahmi Sheikh
Haridan, Nurfarahin Mohd
TI Shariah Auditing and Shariah Compliance Assurance in Malaysian Islamic
Banks
SO GLOBAL JOURNAL AL-THAQAFAH
LA English
DT Article
DE Shariah; Shariah Audit; Shariah Committee; Islamic Bank and Shariah
Compliance Assurance
ID CORPORATE GOVERNANCE; FINANCIAL INSTITUTIONS; RISK; SUPERVISION;
PERFORMANCE; KNOWLEDGE; AUDITORS; EQUITY; ROLES
AB Shariah committees (SCs) of Islamic banks have the crucial governance role of
providing Shariah compliance assurance. In order to maintain the integrity of the
bank in conforming with religious faith SBs should have the talent and skills for
an effective monitoring which among others include contributing to Shariah audit
task. To gain an in-depth understanding on the Shariah compliance audit role of SB,
our present study has performed semi-structured interviews with 14 key players at
two fully-fledge Islamic banks. Our study shows that the diverse Shariah and non-
Shariah backgrounds of SB members could result in a more holistic view of Shariah
issues, being more vocal in giving opinion and critism on the Shariah audit
practices undertaken by Islamic banks. However, our findings reveal the existence
of imbalance competency among SB members and the absence of proper Shariah audit
framework in the two banks governance framework. As a result, most of the SB
members delegate their Shariah audit role to be mainly performed by their Shariah
audit division whose outcome will be submitted to them for approval. We argue that
this passive role of SB members triggers concern on their independence and,
consequently, compromised the Shariah compliance assurance provided to
stakeholders.
C1 [Hassan, Ahmad Fahmi Sheikh] Fac Econ & Management, Dept Accounting & Finance,
Upm Serdang 43400, Malaysia.
[Haridan, Nurfarahin Mohd] Fac Econ & Management, Upm Serdang 43400, Malaysia.
RP Hassan, AFS (corresponding author), Fac Econ & Management, Dept Accounting &
Finance, Upm Serdang 43400, Malaysia.
EM ahmadfahmi@upm.edu.my; farahinharidan@yahoo.com
FU Ministry of Education MalaysiaMinistry of Education, Malaysia [5524887]
FX The authors are grateful to Ministry of Education Malaysia for
supporting this study through Fundamental Research Grant Scheme (FRGS)
(Project Number: 5524887)
NR 58
TC 0
Z9 0
U1 1
U2 1
PU UNIV SULTAN AZLAN SHAH
PI KUALA KANGSAR PERAK
PA BUKIT CHANDAN, KUALA KANGSAR PERAK, 33000, MALAYSIA
SN 2232-0474
EI 2232-0482
J9 GLOB J AL-THAQAFAH
JI Glob. J. Al-Thaqafah
PD NOV
PY 2019
SI SI
BP 61
EP 71
PG 11
WC Religion
SC Religion
GA JQ4AQ
UT WOS:000498890100006
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Muhamat, AA
McIver, R
AF Muhamat, Amirul Afif
McIver, Ronald
TI Linking governance qualities and stewardship attributes: findings from
Malaysian takaful operators
SO JOURNAL OF ISLAMIC ACCOUNTING AND BUSINESS RESEARCH
LA English
DT Article
DE Governance; Stewardship; Takaful; Takaful operator; Malaysia; Islamic
governance
ID CORPORATE GOVERNANCE; BANKS; CSR
AB Purpose As custodians of takaful contributors' tabarru' (donation) funds,
takaful operators are expected to fulfil a stewardship role propagated under the
precepts of Islam. The purpose of this paper is to analyse takaful operators'
stewardship, focusing on investment practices. Design/methodology/approach
Structured interviews were conducted with senior investment staff from all of
Malaysia's takaful operators. Questions, developed using Delphi-style techniques,
allowed a five-point Likert scale response addressing specific issues revolving
around seven dimensions of governance quality - using the Malaysian Rating
Corporation's (MARC's) governance rating guidelines for Islamic financial
institutions (IFIs). Interviewees' responses were assigned composite scores.
Findings Malaysia's takaful operators score well on most prescribed governance
quality dimensions, although performance varies between operators and across
dimensions. Areas for improvement are identified, especially regarding disclosure
of information and contributor involvement in takaful operators' management.
Research limitations/implications - Predetermined questions restrict flexibility in
obtaining takaful operators' information; however, end-of-interview, open-ended
questions were asked to tap interviewee opinions on pertinent issues. A focus on
takaful operators' governance quality and stewardship of investments means findings
may not be representative of all operational aspects of their businesses. Practical
implications - This study identifies governance quality guidelines which takaful
operators may benchmark against and identifies where best to focus attempts to
improve performance. These guidelines will also assist regulators assessing takaful
operators' stewardship performance. Originality/value This study uses governance
quality as an indicator of stewardship, a concept aligned with the precepts of
Shariah. It covers the opinion of the takaful industry in a country with a
comprehensive Islamic financial system, Malaysia, extending understanding of
takaful operators' governance quality.
C1 [Muhamat, Amirul Afif] Univ Teknol MARA, Ctr Econ & Finance Studies, Shah Alam,
Selangor, Malaysia.
[McIver, Ronald] Univ South Australia, Business Sch, Adelaide, SA, Australia.
RP Muhamat, AA (corresponding author), Univ Teknol MARA, Ctr Econ & Finance
Studies, Shah Alam, Selangor, Malaysia.
EM amirulafif@salam.uitm.edu.my
NR 39
TC 0
Z9 0
U1 4
U2 4
PI BINGLEY
SN 1759-0817
EI 1759-0825
J9 J ISLAMIC ACCOUNT BU
JI J. Islamic Account. Bus. Res.
PD OCT 14
PY 2019
VL 10
IS 5
BP 736
EP 755
DI 10.1108/JIABR-04-2016-0048
PG 20
GA JN3OP
UT WOS:000496809200008
DA 2020-08-12
ER
PT J
AU Nugraheni, P
Khasanah, EN
AF Nugraheni, Peni
Khasanah, Erlinda Nur
TI Implementation of the AAOIFI index on CSR disclosure in Indonesian
Islamic banks
SO JOURNAL OF FINANCIAL REPORTING AND ACCOUNTING
LA English
DT Article
DE Corporate governance; CSR disclosure; Stakeholder theory; AAOIFI index;
Sharia Supervisory Board; Board of commissioners
ID SOCIAL-RESPONSIBILITY DISCLOSURE; VOLUNTARY DISCLOSURE; DETERMINANTS;
BOARD; SHARIAH
AB Purpose The purpose of this study is to discuss the extent to which Indonesian
Islamic banks (IBs) disclose corporate social responsibility (CSR) according to the
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
index. It also empirically examines the determinants of CSR disclosure in
Indonesian IBs, based on disclosure from AAOIFI index, which is based on Islamic
principles. Design/methodology/approach The determinant used in this paper is the
corporate governance (CG) mechanism, which focuses on the board of commissioners
(BOC) and Sharia Supervisory Board (SSB) and their characteristics. The paper uses
multiple regression analysis to examine the influence of these variables on CSR.
Findings The results indicate that the level of CSR disclosure of IBs measured by
the AAOIFI index continues to be low. The statistical results reveal that CSR
disclosure has an insignificant relationship with BOC size and SSB qualifications,
while the other results show a negative association between the composition of
independent BOCs and CSR disclosure, and the frequency of BOC and SSB meeting has a
positive effect on this. Research limitations/implications - The study focuses on
Indonesian IBs. The variables of the CG mechanismare limited to the BOC and SSB,
while the BOC exists only in countries that adopt two-tier boards. Practical
implications - IBs should provide a wider range of information to be disclosed. The
government should establish specific items that need to be disclosed by IBs,
considering there are no specific CSR disclosure regulations for IBs in Indonesia.
Originality/value This study uses the AAOIFI index, which may be a suitable measure
of CSR in IBs. The study also analyzes why certain items in the index have a high
disclosure level and others do not.
C1 [Nugraheni, Peni; Khasanah, Erlinda Nur] Univ Muhammadiyah Yogyakarta, Dept
Accounting, Fac Econ & Business, Yogyakarta, Indonesia.
RP Nugraheni, P (corresponding author), Univ Muhammadiyah Yogyakarta, Dept
Accounting, Fac Econ & Business, Yogyakarta, Indonesia.
EM peninugraheni@yahoo.com
RI Nugraheni, Peni/AAB-4265-2020
OI Nugraheni, Peni/0000-0003-3999-9221
NR 42
TC 1
Z9 1
U1 0
U2 2
PI BINGLEY
SN 1985-2517
EI 2042-5856
J9 J FINANC REPORT ACCO
JI J. Financ. Report Accoount.
PD SEP 2
PY 2019
VL 17
IS 3
BP 365
EP 382
DI 10.1108/JFRA-02-2018-0013
PG 18
GA JE8FB
UT WOS:000490924400001
DA 2020-08-12
ER
PT J
AU Aljughaiman, AA
Salamaa, A
AF Aljughaiman, Abdullah A.
Salamaa, Aly
TI Do banks effectively manage their risks? The role of risk governance in
the MENA region
SO JOURNAL OF ACCOUNTING AND PUBLIC POLICY
LA English
DT Article
DE Islamic banks (IBs); Conventional banks (CBs); Risk committee (RC);
Chief risk officer (CRO); Risk-taking; Risk management effectiveness
ID EXECUTIVE STOCK-OPTIONS; CORPORATE GOVERNANCE; FINANCIAL INSTITUTIONS;
CONVENTIONAL BANKS; GENDER DIVERSITY; ISLAMIC BANKING; PERFORMANCE;
BOARD; COMPENSATION; DETERMINANTS
AB This study aims to investigate (1) the effects of the creation of a board-level
risk committee (RC) and the designation of a chief risk officer (CRO) on the risk-
taking practices undertaken by financial institutions and (2) whether these
mechanisms improve the risk management effectiveness of both conventional banks
(CBs) and Islamic banks (IBs). We contribute to the scarce literature on the
relationship between risk governance and risk-taking behaviour and investigate IBs
in this context. Using a sample of 573 observations representing 65 banks (28 CBs
and 37 IBs) in the Middle East and North Africa (MENA) region from 2005 to 2015, we
find a negative association between the risk governance indices and their risk
perspectives across both types of banks for the post-crisis period. Interestingly,
we find that the existence of risk governance mechanisms in IBs is associated with
higher risk taking for the pre-crisis period, i.e., before the recent amendments to
the risk governance principles in the MENA region. This result implies that IBs can
respond to regulatory reforms in the post-crisis period by curbing excessive risk
taking. We offer further evidence that the risk governance effect on overall risk
taking stems only from the stand-alone board-level RC and not from the role of the
CRO. We note that the CBs' performance is more associated with risk taking for
banks with stronger board-level RCs. The board-level RCs improve the effectiveness
of risk management within CBs but do not influence the risk management
effectiveness of IBs. (C) 2019 Elsevier Inc. All rights reserved.
C1 [Aljughaiman, Abdullah A.; Salamaa, Aly] Newcastle Univ, Business Sch, Newcastle
Upon Tyne, Tyne & Wear, England.
[Aljughaiman, Abdullah A.] King Faisal Univ, Al Hasa, Saudi Arabia.
RP Salamaa, A (corresponding author), Newcastle Univ, Business Sch, Dept Accounting
& Finance, 5 Barrack Rd, Newcastle Upon Tyne NE1 4SE, Tyne & Wear, England.
EM abjuqhaiman@kfu.edu.sa; aly.salama@newcastle.ac.uk
OI Salama, Professor Aly/0000-0002-7150-6899; Aljughaiman, Abdullah
A/0000-0002-6123-3671
NR 99
TC 1
Z9 1
U1 9
U2 13
PU ELSEVIER SCIENCE INC
PI NEW YORK
PA STE 800, 230 PARK AVE, NEW YORK, NY 10169 USA
SN 0278-4254
EI 1873-2070
J9 J ACCOUNT PUBLIC POL
JI J. Account. Public Policy
PD SEP-OCT
PY 2019
VL 38
IS 5
AR 106680
DI 10.1016/j.jaccpubpol.2019.106680
PG 31
WC Business, Finance; Public Administration
SC Business & Economics; Public Administration
GA JQ2AG
UT WOS:000498753300002
DA 2020-08-12
ER
PT J
AU Ulussever, T
AF Ulussever, Talat
TI CORPORATE GOVERNANCE AND RISK AGGRESSIVENESS OF ISLAMIC BANKS AGAINST
THE RECENT FINANCIAL CRISIS
SO ESTUDIOS DE ECONOMIA APLICADA
LA English
DT Article
DE Corporate Governance; Risk Aggressiveness; Islamic Banks; Financial
Crisis
ID INSTITUTIONS; OWNERSHIP; MODEL; FIRM
AB This study examines whether the multi-layer corporate governance mode of Islamic
banking system can prevent Islamic banks from excessive risk taking and hence
protect against its fallibility to the global financial crisis. Employing the
random-effects GLS method with two-step GMM method for the robustness check and
using the dataset of total 154 banks over the period of 2005-2011, the results show
that the corporate governance and financial disclosure indices appear as the
motivating factors for risk taking attitudes of Islamic banks. Thus, the governance
mechanism of Islamic banks is effective in protecting them against their
fallibility to the global financial crisis.
C1 [Ulussever, Talat] King Fahd Univ Petr Minerals, Dept Finance & Econ, Dhahran,
Saudi Arabia.
RP Ulussever, T (corresponding author), King Fahd Univ Petr Minerals, Dept Finance
& Econ, Dhahran, Saudi Arabia.
EM talat@kfupm.edu.sa
FU King Fahd University of Petroleum Minerals [IN131029]
FX The author gratefully acknowledges the support provided by King Fahd
University of Petroleum & Minerals (IN131029) for this research.
NR 43
TC 0
Z9 0
U1 0
U2 1
PU ASOC ECONOMIA APLICADAD
PI MADRID
PA C JUAN RAMON JIMENEZ, 43, MADRID, 28036, SPAIN
SN 1133-3197
EI 1697-5731
J9 ESTUD ECON APL
JI Estud. Econ. Apl.
PD SEP
PY 2019
VL 37
IS 3
BP 171
EP 185
PG 15
WC Economics
GA JB3KS
UT WOS:000488456700011
DA 2020-08-12
ER
PT J
AU Sharmeen, K
Hasan, R
Miah, MD
AF Sharmeen, Kashfia
Hasan, Rashedul
Miah, Mohammad Dulal
TI Underpinning the benefits of green banking: A comparative study between
Islamic and conventional banks in Bangladesh
SO THUNDERBIRD INTERNATIONAL BUSINESS REVIEW
LA English
DT Article
DE carbon emission; corporate social responsibility; environmental
performance; governance; green banking
ID CORPORATE GOVERNANCE; ENVIRONMENTAL DISCLOSURE; BOARD; PERFORMANCE;
MANAGEMENT
AB This study aims to compare environmental motives and performance of conventional
and Islamic banks in Bangladesh. Green compliance index was developed based on the
Bangladesh Bank (the central bank of Bangladesh) guidelines whereas information
regarding governance variables is collected from the annual reports of 9 Islamic
and 31 conventional banks. Results show Islamic banks are more environmentally
friendly compared to their conventional counterparts. Board size is negatively
related to green compliance whereas board independence and auditor's type do not
have any significant influence on green compliance for both clusters of banks.
Compliance with green banking policies enhances the reputation for Islamic banks
and accountability and profitability for conventional banks. Results of this study
provide useful information for regulatory authorities to formulate policies that
are conducive to enhance bank's environmental performance.
C1 [Sharmeen, Kashfia] BICM, Dept Finance, Dhaka, Bangladesh.
[Hasan, Rashedul] Nilai Univ, Fac Business Hospitality & Humanities, Sch
Accounting & Finance, Nilai, Malaysia.
[Miah, Mohammad Dulal] Univ Nizwa, Dept Econ & Finance, Nizwa, Oman.
RP Hasan, R (corresponding author), Nilai Univ, Fac Business, Sch Accounting &
Finance, 1 Persiaran Univ, Nilai 71800, Negeri Sembilan, Malaysia.
EM kash.nsu@gmail.com; rashedul@nilai.edu.my; dulal@unizwa.edu.om
OI Miah, Mohammad Dulal/0000-0001-9545-837X; Hasan,
Rashedul/0000-0003-0130-0665
NR 69
TC 1
Z9 1
U1 2
U2 7
PU WILEY
PI HOBOKEN
SN 1096-4762
EI 1520-6874
J9 THUNDERBIRD INT BUS
JI Thunderbird Int. Bus. Rev.
PD SEP
PY 2019
VL 61
IS 5
SI SI
BP 735
EP 744
DI 10.1002/tie.22031
PG 10
WC Business
GA IN5XO
UT WOS:000478750300009
DA 2020-08-12
ER
PT J
AU Almutairi, AR
Quttainah, MA
AF Almutairi, Ali R.
Quttainah, Majdi A.
TI Corporate governance and accounting conservatism in Islamic banks
SO THUNDERBIRD INTERNATIONAL BUSINESS REVIEW
LA English
DT Article
DE accounting conservatism; ethics; Islamic Bank; Shari'ah
ID TOP MANAGEMENT TEAM; BOARD COMPOSITION; EARNINGS MANAGEMENT; DIRECTOR
CHARACTERISTICS; ASYMMETRIC TIMELINESS; OWNERSHIP STRUCTURE;
EMPIRICAL-ANALYSIS; AUDIT COMMITTEE; SIZE; PERFORMANCE
AB We examine whether Islamic banks are more likely to be conservative in their
financial reporting than conventional banks, as well as how Islamic banks' unique
corporate governance system affects accounting conservatism behaviors. Using a
large sample of Islamic banks and their matched non-Islamic banks; based on total
assets and geographic location, in 15 countries, we find Islamic banks are more
likely to deploy accounting conservatism as measured by loss avoidance, abnormal
loan loss provisions, and C-score, respectively. Islamic banks are about 95% more
likely to be more conservative in accounting practices than their counterparts,
depending on different model specifications. In addition, we report several board
characteristics, such as size, independence, reputation, tenure, and diversity, are
important determinants of accounting conservatism in Islamic banks. This
relationship indicates certain board traits lead to greater monitoring roles,
consequently reducing unethical behavior and increasing the degree of conservatism
in accounting practices.
C1 [Almutairi, Ali R.] Kuwait Univ, Coll Business Adm, Dept Accounting, Safat,
Kuwait.
[Quttainah, Majdi A.] Kuwait Univ, Coll Business Adm, Dept Management & Mkt, POB
5486, Safat 13055, Kuwait.
RP Quttainah, MA (corresponding author), Kuwait Univ, Coll Business Adm, Dept
Management & Mkt, POB 5486, Safat 13055, Kuwait.
EM aalmutairi@cba.edu.kw; majdi.quttainah@ku.edu.kw
NR 160
TC 1
Z9 1
U1 3
U2 6
PU WILEY
PI HOBOKEN
SN 1096-4762
EI 1520-6874
J9 THUNDERBIRD INT BUS
JI Thunderbird Int. Bus. Rev.
PD SEP
PY 2019
VL 61
IS 5
SI SI
BP 745
EP 764
DI 10.1002/tie.22063
PG 20
WC Business
GA IN5XO
UT WOS:000478750300010
DA 2020-08-12
ER
PT J
AU Srairi, S
AF Srairi, Samir
TI Transparency and bank risk-taking in GCC Islamic banking
SO BORSA ISTANBUL REVIEW
LA English
DT Article
DE Corporate transparency; Bank risk; Disclosure; Islamic banks; GCC
countries
ID MARKET DISCIPLINE; CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE; DEPOSIT
INSURANCE; SUBORDINATED DEBT; DISCLOSURE; COMPETITION; PERFORMANCE;
STABILITY; POWER
AB This study examines the impact of corporate transparency on bank risk for a
sample of 29 Islamic banks operating in five Gulf Cooperation Council countries
over the period 2013-2016. We construct a transparency index based on several
international regulatory documents and we measure the index using content analysis
on the banks' annual reports. The results reveal wide variation in terms of
disclosure among Islamic banks. Only two countries, Bahrain and the United Arab
Emirates, have a higher level of transparency. We also find a lack of transparency
related to corporate governance, Sharia governance and management risk dimensions.
Our regression findings using the random-effect GLS technique show that an increase
in the transparency of Islamic banks has a significant impact on banks' stability.
Finally, we identify several internal and external variables that impact bank risk,
namely size, efficiency, level of deposit, growth of assets, GDP growth, depth of
credit information risk and concentration. Copyright (C) 2019, Borsa Istanbul
Anonim Sirketi. Production and hosting by Elsevier B.V.
C1 [Srairi, Samir] Univ Manouba, Tunis Sch Business, Manouba, Tunisia.
RP Srairi, S (corresponding author), Univ Manouba, Tunis Sch Business, Manouba,
Tunisia.
EM srairisamir3@gmail.com
NR 69
TC 3
Z9 3
U1 0
U2 3
PU ELSEVIER
PI AMSTERDAM
PA RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS
SN 2214-8450
EI 2214-8469
J9 BORSA ISTANB REV
JI Borsa Istanb. Rev.
PD AUG
PY 2019
VL 19
SU 1
BP S64
EP S74
DI 10.1016/j.bir.2019.02.001
PG 11
WC Business, Finance; Economics
GA IR8BN
UT WOS:000481666200007
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Azmi, W
Anwer, Z
Mohamad, S
Shah, ME
AF Azmi, Wajahat
Anwer, Zaheer
Mohamad, Shamsher
Shah, Mohamed Eskandar
TI The substitution hypothesis of agency conflicts: Evidence on Shariah
compliant equities
SO GLOBAL FINANCE JOURNAL
LA English
DT Article
DE Agency costs; Shariah compliant equities; Corporate governance; Capital
structure; Stock screening
ID CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE; DIVIDEND POLICIES; COST
EVIDENCE; CASH FLOW; BEHAVIOR; FIRM
AB According to the substitution hypothesis and recent evidence, firms that are
better governed carry less debt and experience fewer agency problems. This may also
imply that firms with lower debt are better governed and experience lower agency
costs. We test this hypothesis by comparing the agency costs of Shariah compliant
(SC, and therefore low debt) and Shariah noncompliant (SNC) firms, using a
proprietary dataset comprising constituents of the Dow Jones Islamic index for the
period 2006-2015. The findings support the hypothesis but are contingent on the
firm's idiosyncratic risk; SC firms with low idiosyncratic risk have higher agency
costs.
C1 [Azmi, Wajahat; Mohamad, Shamsher; Shah, Mohamed Eskandar] Lorong Univ A, Int
Ctr Educ Islamic Finance, Kuala Lumpur, Malaysia.
[Anwer, Zaheer] Univ Lahore, Lahore Ctr Excellence Islamic Banking & Finance, 1
KM Def Rd, Lahore, Pakistan.
RP Anwer, Z (corresponding author), Univ Lahore, Lahore Ctr Excellence Islamic
Banking & Finance, 1 KM Def Rd, Lahore, Pakistan.
EM zmanwar@gmail.com; shamsher@inceif.org; eskandar@inceif.org
RI Anwer, Zaheer/D-6529-2016
OI Anwer, Zaheer/0000-0003-3698-7073
NR 37
TC 2
Z9 2
U1 0
U2 1
PU JAI PRESS INC
PI STAMFORD
PA 100 PROSPECT ST, PO BOX 811, STAMFORD, CT 06901 USA
SN 1044-0283
EI 1873-5665
J9 GLOB FINANC J
JI Glob. Financ. J.
PD AUG
PY 2019
VL 41
BP 90
EP 103
DI 10.1016/j.gfj.2019.02.004
PG 14
GA IC1LX
UT WOS:000470721800007
DA 2020-08-12
ER
PT J
AU Abd Razak, A
AF Abd Razak, Abd Hakim
TI Multiple Sharia' board directorship: a Maslahah (public interest)
perspective
SO JOURNAL OF ISLAMIC MARKETING
LA English
DT Article
DE Islamic business ethics; Islamic law and marketing practices; Islamic
markets; Islamic financial services marketing; Multiple directorships;
Islamic banking; Corporate governance; Sharia' board; Sharia' law;
Maslahah Al-Mursalah
ID TOO BUSY
AB Purpose
The purpose of this study is to examine the legal paradigm of multiple Sharia'
board directorship practice from the Sharia' law concept of Maslahah Al-Mursalah
(public interest).
Design/methodology/approach
It uses a doctrinal research method that relies on the commonly referred sources
of Quran and Sunnah, with a specific focus on Maslahah Al-Mursalah and, where
applicable, commentaries by contemporary scholars, academics and practitioners as
well as translations of classical book of Fiqh. This study scrutinises the polarity
of views concerning the distinct Masyaqqah (necessity) surrounding the practice in
discussion: the Masyaqqah that encourages and one that discourages the application
of the practice.
Findings
This study is keen to suggest the industry to adopt a cautious approach and
consider exploring a corporate governance framework that appraises the theoretical
and practical Sharia' issues concerning its application in cognisance of its
adversarial influence towards the sustainability of Islamic banking industry.
Originality/value
Since Murat Unal's study of multiple Sharia' board directorships in 2009 and
2011, empirical works that scrutinise the practice from the Sharia' law perspective
have remained limited or almost non-existent. It is aspired that this study may
assist fellow readers and future researchers alike in evaluating and appreciating
the divergent views surrounding the application of this practice in Islamic
banking.
C1 [Abd Razak, Abd Hakim] Xiamen Univ Malaysia, Sch Econ & Management, Bandar
Sunsuria, Malaysia.
RP Abd Razak, A (corresponding author), Xiamen Univ Malaysia, Sch Econ &
Management, Bandar Sunsuria, Malaysia.
EM abdrazaa@tcd.ie
NR 115
TC 0
Z9 0
U1 0
U2 0
PI BINGLEY
SN 1759-0833
EI 1759-0841
J9 J ISLAMIC MARK
JI J. Islamic Mark.
PD JUL 18
PY 2019
VL 11
IS 3
BP 745
EP 764
DI 10.1108/JIMA-10-2018-0185
PG 20
WC Business
GA LP4RF
UT WOS:000534305600003
DA 2020-08-12
ER
PT J
AU Trinh, VQ
Elnahass, M
Salama, A
Izzeldin, M
AF Vu Quang Trinh
Elnahass, Marwa
Salama, Aly
Izzeldin, Marwan
TI Board busyness, performance and financial stability: does bank type
matter?
SO EUROPEAN JOURNAL OF FINANCE
LA English
DT Article
DE Busy boards; financial performance; bank risk; bank type
ID CORPORATE GOVERNANCE; RISK-TAKING; ISLAMIC BANKS; CONVENTIONAL BANKS;
FIRM PERFORMANCE; TOO BUSY; DIRECTORS; BUSINESS; ACCOUNTABILITY;
COMPENSATION
AB This study examines the impact of board busyness (i.e. multiple directorships of
outside board members) on the performance and financial stability of banks in a
dual banking system (Islamic and conventional). We consider banks from 14 countries
for the period 2010-2015. The results provide strong evidence that conventional
banks with busy boards exhibit high bank performance (i.e. high profitability and
low cost to income) and greater financial stability (i.e. low insolvency risk,
credit risk, liquidity risk, asset risk, and operational risk). These findings are
in line with the reputation hypothesis, which asserts that the expertise and
connections of busy outside directors lead to better decision making, more
efficient resource utilisation and more effective monitoring. In contrast, Islamic
banks' performance and stability are adversely affected by the presence of busy
board members, with Islamic banks show low profitability, high cost to income and
high risk-taking. This result might be attributed to the complex governance
structure of Islamic banks and the uniqueness of their financial products, which
require additional effective monitoring.
C1 [Vu Quang Trinh; Elnahass, Marwa; Salama, Aly] Newcastle Univ, Business Sch,
Newcastle Upon Tyne, Tyne & Wear, England.
[Izzeldin, Marwan] Univ Lancaster, Business Sch, Lancaster, England.
RP Elnahass, M (corresponding author), Newcastle Univ, Business Sch, Newcastle Upon
Tyne, Tyne & Wear, England.
EM marwa.elnahas@newcastle.ac.uk
RI Trinh, Vu Quang/AAK-5745-2020
OI Trinh, Vu Quang/0000-0003-2606-2958; Elnahass,
Marwa/0000-0002-8809-4165; Salama, Professor Aly/0000-0002-7150-6899
NR 78
TC 3
Z9 3
U1 3
U2 12
PU ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
PI ABINGDON
PA 2-4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXON, ENGLAND
SN 1351-847X
EI 1466-4364
J9 EUR J FINANC
JI Eur. J. Financ.
PD MAY 23
PY 2020
VL 26
IS 7-8
SI SI
BP 774
EP 801
DI 10.1080/1351847X.2019.1636842
EA JUL 2019
PG 28
GA KR5SU
UT WOS:000474953600001
DA 2020-08-12
ER
PT J
AU Haris, M
Yao, HX
Tariq, G
Malik, A
Javaid, HM
AF Haris, Muhammad
Yao, HongXing
Tariq, Gulzara
Malik, Ali
Javaid, Hafiz Mustansar
TI Intellectual Capital Performance and Profitability of Banks: Evidence
from Pakistan
SO JOURNAL OF RISK AND FINANCIAL MANAGEMENT
LA English
DT Article
DE Pakistan; banks; profitability; intellectual capital; generalized method
of moments (GMM)
ID FINANCIAL PERFORMANCE; CORPORATE GOVERNANCE; COMMERCIAL-BANKS; BOARD
SIZE; ISLAMIC BANKS; PANEL-DATA; FIRM; DETERMINANTS; DIRECTORS; IMPACT
AB The study contributes to the existing literature on intellectual capital (IC)
performance and profitability by extending evidence from Pakistan. The study
examines the impact of IC performance on the profitability of Pakistani financial
institutions. It further examines how corporate governance, bank specific, industry
specific, and country specific indicators effect Pakistani banks' profitability.
The result reports both the linear and non-linear impact of IC performance on
profitability, which affirms an inverted U-shaped relationship. Among the three
value added intellectual coefficient (VAIC) components, capital employed efficiency
(CEE), and human capital efficiency (HCE) are found to have a significantly
positive and structural capital efficiency (SCE) is found to have a significantly
negative impact on bank profitability. The study notes a positive impact on
profitability of factors like board independence, directors' compensation, and
higher capitalization. It reports a negative impact on profitability of factors
like board size, board meetings, credit risk, industry concentration and economic
growth. The results also indicate low profitability of banks during the period of
government transition. The study provides insights into the important profitability
drives and suggests that the impact of investment in IC on profitability is limited
to an extent. The findings of this study are likely to be useful for policy makers,
management, and academics.
C1 [Haris, Muhammad; Yao, HongXing; Tariq, Gulzara] Jiangsu Univ, Sch Finance &
Econ, Zhenjiang 212013, Jiangsu, Peoples R China.
[Malik, Ali] QFBA Northumbria Univ, Doha 23245, Qatar.
[Javaid, Hafiz Mustansar] Shenzhen Univ, Coll Management, Shenzhen 518060,
Peoples R China.
RP Haris, M (corresponding author), Jiangsu Univ, Sch Finance & Econ, Zhenjiang
212013, Jiangsu, Peoples R China.
EM harmalik@outlook.com; hxyao@ujs.edu.cn; gulcute327@gmail.com;
m.malik@northumbria.edu.qa; mustansar022@gmail.com
RI Haris, Muhammad/S-1086-2017; Javaid, Hafiz Mustansar/AAE-8234-2020;
Haris, Muhammad/P-4984-2019
OI Haris, Muhammad/0000-0003-0440-8794; Haris,
Muhammad/0000-0003-0440-8794; Yao, Hongxing/0000-0002-5988-0378
FU National Natural Science Foundation of ChinaNational Natural Science
Foundation of China [71701082, 71271103]
FX This work was supported by the National Natural Science Foundation of
China no. 71701082 and 71271103.
NR 130
TC 10
Z9 10
U1 0
U2 5
PU MDPI
PI BASEL
PA ST ALBAN-ANLAGE 66, CH-4052 BASEL, SWITZERLAND
SN 1911-8066
EI 1911-8074
J9 J RISK FINANC MANAG
JI J. Risk Financ. Manag.
PD JUN
PY 2019
VL 12
IS 2
AR 56
DI 10.3390/jrfm12020056
PG 26
GA II6HD
UT WOS:000475294000007
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Budi, IS
Rahmawati, R
Falikhatun, F
Muthmainah, M
Gunardi, A
AF Budi, Ichsan Setiyo
Rahmawati, Rahmawati
Falikhatun, Falikhatun
Muthmainah, Muthmainah
Gunardi, Ardi
TI Financial Performance Mediation in the Influence of Islamic Corporate
Governance Disclosure on the Islamic Social Reporting
SO INDONESIAN JOURNAL OF SUSTAINABILITY ACCOUNTING AND MANAGEMENT
LA English
DT Article
DE financial performance; Islamic corporate governance; Islamic social
reporting
ID RESPONSIBILITY DISCLOSURE; COMPANIES
AB The results of the research on the social role of Islamic banks show
inconsistency both domestically and abroad; this is the basis for conducting this
research to re-explain the Islamic Corporate Governance (ICG) and Islamic Social
Reporting (ISR) relationship, models. This study aims to examine the indirect
effect of ICG disclosure on ISR disclosure with financial performance as a
mediating variable in Islamic Banking in Indonesia. This study uses secondary data
with annual report data sources and financial statements on Islamic banking in
Indonesia. They are testing this study using stepwise regression analysis with data
for the annual reporting period of 2011 through 2014. The result that financial
performance mediates the effect of disclosure of ICG on ISR; this shows that proper
management of Islamic banks will produce high financial performance so that they
can carry out their social roles well too. The contribution of this study is to
develop a new model of the part of financial performance mediating the effect of
ICG disclosure on ISR so that it is beneficial for the development of science.
C1 [Budi, Ichsan Setiyo; Rahmawati, Rahmawati; Falikhatun, Falikhatun; Muthmainah,
Muthmainah] Univ Sebelas Maret, Fac Econ & Business, Surakarta, Indonesia.
[Budi, Ichsan Setiyo] Univ Pembangunan Nas Vet Yogyakarta, Fac Econ & Business,
Yogyakarta, Indonesia.
[Gunardi, Ardi] Univ Pasundan, Fac Econ & Business, Bandung, Indonesia.
RP Budi, IS (corresponding author), Univ Pembangunan Nas Vet Yogyakarta, Fac Econ &
Business, Dept Accounting, Jl SWK 104, Yogyakarta 55283, Indonesia.
EM iesbe2011@gmail.com
RI Gunardi, Ardi/E-7051-2016
OI Gunardi, Ardi/0000-0002-0372-7067; Rahmawati,
Rahmawati/0000-0002-9931-1380
NR 34
TC 0
Z9 0
U1 0
U2 0
PU UNIV PASUNDAN
PI BANDUNG
PA JL DR SETIABUDI NO 193, GEGERKALONG, KEC SUKASARI, KOTA, BANDUNG, JAWA
BARAT 40153, INDONESIA
SN 2597-6214
EI 2597-6222
J9 INDONES J SUSTAIN AC
JI Indones. J. Sustain. Account. Manag.
PD JUN
PY 2019
VL 3
IS 1
BP 75
EP 83
DI 10.28992/ijsam.v3i1.77
PG 9
WC Business, Finance; Management
GA IH9WG
UT WOS:000474856700008
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Jaafar, MY
Nawawi, A
Salin, ASAP
AF Jaafar, Mohd Yassir
Nawawi, Anuar
Salin, Ahmad Saiful Azlin Puteh
TI Factors Influencing Directors' Remuneration Disclosure in Malaysia PLCs
SO PERTANIKA JOURNAL OF SOCIAL SCIENCE AND HUMANITIES
LA English
DT Article
DE Audit firm; corporate governance; directors' remuneration; disclosure;
Malaysia; managerial ownership
ID ISLAMIC WORK ETHICS; CORPORATE GOVERNANCE; VOLUNTARY DISCLOSURE;
MANAGERIAL OWNERSHIP; BOARD INDEPENDENCE; LISTED COMPANIES; FIRM;
MANAGEMENT; PERFORMANCE; QUALITY
AB This study is intended to examine the levels of directors' remuneration
disclosure among public-listed companies in Malaysia. It further aims to examine
the relationship among total directors' remuneration, directors' education level,
size of external auditors, and proportion of managerial ownership and directors'
remuneration disclosure. The analysis is conducted based on three models, which are
constructed from the Malaysian Code on Corporate Governance (Model 1), Global
Practices (Model 2), and a combination of both Malaysian Code on Corporate
Governance and Global Practices (Model 3). This study found that the size of
external auditors had a positive significant relationship, while the proportion of
managerial ownership had a negative significant relationship with the disclosure.
This study contributes to the improvement of policymaking and body of knowledge by
highlighting the relationship between the selected corporate governance
characteristics and directors' remuneration disclosure in the context of Malaysia.
C1 [Jaafar, Mohd Yassir] Univ Teknol MARA, Fac Accountancy, Melaka Branch, Alor
Gajah 78000, Melaka, Malaysia.
[Nawawi, Anuar] Univ Teknol MARA Shah Alam, Fac Accountancy, Shah Alam 40450,
Selangor, Malaysia.
[Salin, Ahmad Saiful Azlin Puteh] Univ Teknol MARA, Fac Accountancy, Perak
Branch Tapah Campus, Perak 35400, Malaysia.
RP Salin, ASAP (corresponding author), Univ Teknol MARA, Fac Accountancy, Perak
Branch Tapah Campus, Perak 35400, Malaysia.
EM mohd_yassir85@yahoo.com.my; anuar217@uitm.edu.my; ahmad577@uitm.edu.my
RI Puteh Salin, Ahmad Saiful Azlin/K-2625-2013
OI Puteh Salin, Ahmad Saiful Azlin/0000-0001-9652-712X
NR 97
TC 0
Z9 0
U1 1
U2 1
PU UNIV PUTRA MALAYSIA PRESS
PI SELANGOR
PA SERDANG, SELANGOR, 00000, MALAYSIA
SN 0128-7702
EI 2231-8534
J9 PERTANIKA J SOC SCI
JI Pertanika J. Soc. Sci. Humanit.
PD JUN
PY 2019
VL 27
IS 2
BP 1049
EP 1071
PG 23
WC Social Sciences, Interdisciplinary
SC Social Sciences - Other Topics
GA IF6CD
UT WOS:000473167800023
DA 2020-08-12
ER
PT J
AU Imamah, N
Lin, TJ
Suhadak
Handayani, SR
Hung, JH
AF Imamah, Nur
Lin, Tsui-Jung
Suhadak
Handayani, Siti Ragil
Hung, Jung-Hua
TI Islamic law, corporate governance, growth opportunities and dividend
policy in Indonesia stock market
SO PACIFIC-BASIN FINANCE JOURNAL
LA English
DT Article
ID INVESTOR PROTECTION; NATIONAL CULTURE; RELIGION
AB This paper examines whether the Islamic law (Shariah), corporate governance and
growth opportunities affect dividend policy. Using a sample of 2125 firm-years for
companies listed on the Indonesia Stock Exchange (IDX) over the period of 2012-
2016, we find evidence that Shariah-compliant firms (SCFs) have higher dividend
payouts, mainly driven by insider ownership and external large ownership. In
addition, institutional ownership of SCFs plays a strong role in corporate
governance since it is negatively related to dividend payouts when firm growth is
high while this relationship becomes positive when firm growth is low. These
results suggest that the Islamic law is an important factor affecting dividend
policy in Islamic countries.
C1 [Imamah, Nur; Suhadak; Handayani, Siti Ragil] Univ Brawijaya, Dept Business Adm,
Vet Rd, Malang, East Java Prov, Indonesia.
[Lin, Tsui-Jung] Chinese Culture Univ, Dept Banking & Finance, 55 Hwa Kang Rd,
Taipei 11114, Taiwan.
[Imamah, Nur; Hung, Jung-Hua] Natl Cent Univ, Dept Business Adm, 300 Jhongda Rd,
Taoyuan 32001, Taiwan.
RP Hung, JH (corresponding author), Natl Cent Univ, Dept Business Adm, 300 Jhongda
Rd, Taoyuan 32001, Taiwan.
EM jhung@cc.ncu.edu.tw
OI , Suhadak/0000-0001-9638-6275
FU Ministry of Science and Technology, Taiwan, ROCMinistry of Science and
Technology, Taiwan [MOST 106-2410-H-008-035]
FX We would like to acknowledge the financial support provided by the
Ministry of Science and Technology (MOST 106-2410-H-008-035), Taiwan,
ROC.
NR 37
TC 0
Z9 0
U1 0
U2 2
PU ELSEVIER SCIENCE BV
PI AMSTERDAM
PA PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
SN 0927-538X
EI 1879-0585
J9 PAC-BASIN FINANC J
JI Pac.-Basin Financ. J.
PD JUN
PY 2019
VL 55
BP 110
EP 126
DI 10.1016/j.pacfin.2019.03.008
PG 17
GA ID0GP
UT WOS:000471362000007
DA 2020-08-12
ER
PT J
AU Nawaz, T
Virk, NS
AF Nawaz, Tasawar
Virk, Nader Shahzad
TI Religious entrenchment and agency costs
SO ECONOMICS LETTERS
LA English
DT Article
DE Entrenchment; Shariah scholars; Agency costs; Islamic banks;
Non-shareholding stakeholders
ID CORPORATE GOVERNANCE; OWNERSHIP; INSIGHTS
AB The entrenchment effects of 20 prominent Shariah scholars show an increase in
the agency costs for the Islamic banks in our study. This supports the notion that
managers may provide concessions to external non-shareholding stakeholders to
pursue their personal agendas. (C) 2019 Published by Elsevier B.V.
C1 [Nawaz, Tasawar; Virk, Nader Shahzad] Plymouth Business Sch, Dept Accounting
Finance & Econ, Plymouth PL4 8AA, Devon, England.
RP Nawaz, T (corresponding author), Plymouth Business Sch, Dept Accounting Finance
& Econ, Plymouth PL4 8AA, Devon, England.
EM tnawaz@plymouth.ac.uk; nader.virk@plymouth.ac.uk
OI Virk, Nader/0000-0001-6338-2198
NR 13
TC 1
Z9 1
U1 0
U2 1
PU ELSEVIER SCIENCE SA
PI LAUSANNE
PA PO BOX 564, 1001 LAUSANNE, SWITZERLAND
SN 0165-1765
EI 1873-7374
J9 ECON LETT
JI Econ. Lett.
PD JUN
PY 2019
VL 179
BP 83
EP 86
DI 10.1016/j.econlet.2019.03.032
PG 4
WC Economics
GA IC6LS
UT WOS:000471084200021
DA 2020-08-12
ER
PT J
AU Nawaz, T
AF Nawaz, Tasawar
TI Exploring the Nexus Between Human Capital, Corporate Governance and
Performance: Evidence from Islamic Banks
SO JOURNAL OF BUSINESS ETHICS
LA English
DT Article
DE Human capital investment; Corporate governance; Market performance;
Financial crisis; Islamic banks; Applied ethics
ID FINANCIAL CRISIS EVIDENCE; RESOURCE-BASED THEORY; ORGANIZATIONAL
PERFORMANCE; COMPETITIVE ADVANTAGE; BUSINESS PERFORMANCE; FIRM
PERFORMANCE; ETHICAL IDENTITY; AUDIT COMMITTEE; BOARD STRUCTURE;
MANAGEMENT
AB This paper offers novel insight into the Islamic banking business model by
considering the effect of investments in human capital and corporate governance
features on the market performance of Islamic banks. Based on a sample of 47 banks
(30 full-fledged Islamic banks and 17 Islamic Shariah-windows) operating in
different regions during the 2005-2010 period, and controlling for firm-specific
characteristics, this paper finds investments in human capital to have a
significant positive impact on the market value in the pre- and post-financial
crisis period. Based on a market measure, this paper finds board size and CEO power
to have a significant positive impact, while the size of Shariah Supervisory Board
(SSB) has the opposite effect on market performance. The results further reveal
that the Islamic banking sector is not a homogeneous group, with full-fledged
Islamic banks having lax corporate governance mechanisms and large size, while
their counterparts, Islamic Shariah-windows, having strong corporate governance
mechanisms tend to invest more in human capital to yield positive market value.
Overall, the analysis suggests that the financial crisis may have further spurred
the impact of investments in human capital on the market performance.
C1 [Nawaz, Tasawar] Univ Plymouth, Plymouth Business Sch, Plymouth, Devon, England.
RP Nawaz, T (corresponding author), Univ Plymouth, Plymouth Business Sch, Plymouth,
Devon, England.
EM tnawaz@plymouth.ac.uk
NR 111
TC 8
Z9 8
U1 4
U2 20
PU SPRINGER
PI DORDRECHT
PA VAN GODEWIJCKSTRAAT 30, 3311 GZ DORDRECHT, NETHERLANDS
SN 0167-4544
EI 1573-0697
J9 J BUS ETHICS
JI J. Bus. Ethics
PD JUN
PY 2019
VL 157
IS 2
BP 567
EP 587
DI 10.1007/s10551-017-3694-0
PG 21
WC Business; Ethics
SC Business & Economics; Social Sciences - Other Topics
GA IC7ZA
UT WOS:000471194900015
DA 2020-08-12
ER
PT J
AU Alexakis, C
Izzeldin, M
Johnes, J
Pappas, V
AF Alexakis, Christos
Izzeldin, Marwan
Johnes, Jill
Pappas, Vasileios
TI Performance and productivity in Islamic and conventional banks: Evidence
from the global financial crisis
SO ECONOMIC MODELLING
LA English
DT Article
DE Performance; Banking sector; Financial ratios; Meta-frontier Malmquist
productivity analysis; Gulf Cooperation Council
ID DATA ENVELOPMENT ANALYSIS; CORPORATE GOVERNANCE; EUROPEAN BANKING;
TURKISH BANKING; COST EFFICIENCY; FOREIGN ENTRY; GCC; INSTITUTIONS;
INDEX; RISK
AB We assess the performance and productivity of Islamic and conventional banks
using financial ratios, a two- and a four-component meta-frontier Malmquist
productivity index (MPI). We focus on the relatively homogenous GCC region over the
2006-2012 period that covers the global financial crisis. We find that Islamic
banks exhibit worse cost and profit performance but are on a par with regards to
revenue performance compared to the conventional ones. The components of the meta-
frontier MPI suggest that the technology of conventional banks improves markedly in
years leading to the financial crisis and declines thereafter. Islamic banks show a
similar but more muted pattern. By contrast, the pronounced within-Islamic bank
group variation in technical efficiency and technology suggests that Islamic banks
are quite heterogeneous as a group. Overall, the MPI analysis suggests that the two
bank types are more aligned following the global financial crisis. Policy makers
should be wary of the important variations within the Islamic banking industry when
implementing bank regulations.
C1 [Johnes, Jill] Univ Huddersfield, Huddersfield Business Sch, Huddersfield HD1
3DH, W Yorkshire, England.
[Izzeldin, Marwan] Univ Lancaster, Management Sch, Lancaster LA1 4YX, England.
[Pappas, Vasileios] Univ Kent, Kent Business Sch, Canterbury ME4 4TE, Kent,
England.
[Alexakis, Christos] Rennes Sch Business, Dept Finance & Accounting, Rennes,
France.
RP Pappas, V (corresponding author), Univ Kent, Kent Business Sch, Canterbury ME4
4TE, Kent, England.
EM christos.alexakis@rennes-sb.com; m.izzeldin@lancaster.ac.uk;
j.johnes@hud.ac.uk; v.pappas@kent.ac.uk
RI Johnes, Jill/AAB-2233-2020
OI Johnes, Jill/0000-0002-1607-1810
FU Gulf One Lab for Computational and Economic Research (GOLCER)
FX We would like to thank the participants of the 2018 ISCEF Conference in
Paris, the 2016 FEBS Conference in Malaga and seminar participants at
Durham Business School (April 2015) for their insightful comments at
various stages of the paper. Special thanks to Antonio Alvarez-Pinilla
and David Tripe for their insightful suggestions. We would like to thank
the editor (Sushanta Mallick) and two anonymous referees for their
constructive comments. The authors are grateful to the Gulf One Lab for
Computational and Economic Research (GOLCER) for support.
NR 113
TC 3
Z9 3
U1 2
U2 27
PI AMSTERDAM
SN 0264-9993
EI 1873-6122
J9 ECON MODEL
JI Econ. Model.
PD JUN
PY 2019
VL 79
BP 1
EP 14
DI 10.1016/j.econmod.2018.09.030
PG 14
WC Economics
GA HW6TT
UT WOS:000466824200001
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Elamer, AA
Ntim, CG
Abdou, HA
Zalata, AM
Elmagrhi, M
AF Elamer, Ahmed A.
Ntim, Collins G.
Abdou, Hussein A.
Zalata, Alaa Mansour
Elmagrhi, Mohamed
TI The impact of multi-layer governance on bank risk disclosure in emerging
markets: the case of Middle East and North Africa
SO ACCOUNTING FORUM
LA English
DT Article
DE Risk disclosure; corporate governance; Sharia Supervisory Board; country
governance; MENA banks; resource dependence theory
ID SOCIAL-RESPONSIBILITY DISCLOSURE; FIRM-LEVEL GOVERNANCE; CORPORATE
GOVERNANCE; EARNINGS MANAGEMENT; INVESTOR PROTECTION; ISLAMIC BANKS;
VOLUNTARY DISCLOSURE; OWNERSHIP STRUCTURE; EMPIRICAL INSIGHTS; BOARD
COMPOSITION
AB This study examines the impact of multi-layer governance mechanisms on the level
of bank risk disclosure. Using a large dataset from 14 Middle East and North Africa
(MENA) countries over a period of 8 years, our findings are three-fold. First, our
results suggest that the presence of a Sharia supervisory board is positively
associated with the level of risk disclosure. Second and at the bank-level, we find
that ownership structures have a positive effect on the level of risk disclosure.
At the country-level, our evidence suggests that control of corruption has a
positive effect on the level of bank risk disclosure. Our study is, therefore, a
major departure from much of the existing accounting literature that offers new
crucial insights that show that firms' disclosure choices are not mainly shaped by
firm-level (internal) governance arrangements, but also country-level (external)
governance and religious factors. Our findings have important implications for
corporate boards, investors, regulatory authorities, standards-setters and
governments relating to the development, implementation and enforcement of
corporate and national governance standards.
C1 [Elamer, Ahmed A.] Univ Bradford, Sch Management, Bradford, W Yorkshire,
England.
[Elamer, Ahmed A.; Abdou, Hussein A.; Zalata, Alaa Mansour] Mansoura Univ, Fac
Commerce, Mansoura, Egypt.
[Ntim, Collins G.; Zalata, Alaa Mansour] Univ Southampton, Ctr Res Accounting
Accountabil & Governance, Southampton Business Sch, Dept Accounting, Southampton,
Hants, England.
[Abdou, Hussein A.] Univ Cent Lancashire, Lancashire Sch Business & Enterprise,
Preston, Lancs, England.
[Elmagrhi, Mohamed] Univ Huddersfield, Huddersfield Business Sch, Dept
Accounting Finance & Econ, Ctr Sustainabil Responsibil Governance & Eth SURG,
Huddersfield, W Yorkshire, England.
[Elmagrhi, Mohamed] Al Asmarya Univ Islamic Sci, Fac Econ & Commerce, Dept
Accounting & Finance, Zliten, Libya.
RP Elamer, AA (corresponding author), Univ Bradford, Sch Management, Bradford, W
Yorkshire, England.; Elamer, AA (corresponding author), Mansoura Univ, Fac
Commerce, Mansoura, Egypt.
EM a.elamer@bradford.ac.uk
RI Elamer, Ahmed A./I-8836-2017; Ntim, Collins/M-8212-2016; Abdou,
Hussein/C-2456-2018
OI Elamer, Ahmed A./0000-0002-9241-9081; Ntim, Collins/0000-0002-1042-4056;
ZALATA, ALAA/0000-0003-2018-4313; Elmagrhi, Mohamed
Husen/0000-0003-3803-8496; Abdou, Hussein/0000-0001-5580-1276
NR 117
TC 8
Z9 8
U1 4
U2 8
PU TAYLOR & FRANCIS LTD
PI ABINGDON
PA 2-4 PARK SQUARE, MILTON PARK, ABINGDON OR14 4RN, OXON, ENGLAND
SN 0155-9982
EI 1467-6303
J9 ACCOUNT FORUM
JI Account. Forum
PD APR 3
PY 2019
VL 43
IS 2
BP 246
EP 281
DI 10.1080/01559982.2019.1576577
PG 36
GA IL1BG
UT WOS:000477033300003
OA Green Published, Green Accepted, Other Gold
DA 2020-08-12
ER
PT J
AU Aslam, E
Kaum, R
Fizza, S
AF Aslam, Ejaz
Kaum, Rukhsana
Fizza, Sadia
TI Do Cash Holding and Corporate Governance Structure Matter for the
Performance of Firms? Evidence from KMI 30- and KSE 100-Indexed Firms in
Pakistan
SO GLOBAL BUSINESS REVIEW
LA English
DT Article
DE Cash holding; corporate governance; firm performance; KMI 30; KSE 100
index
ID OWNERSHIP STRUCTURE; EXCESS CASH; DETERMINANTS
AB The objective of the study is to investigate the combined impact of cash holding
and corporate governance on the performance of non-financial firms. The sample
consists of 30 Islamic-based firms from Karachi Meezan Index (KMI) 30 index and 42
non-Islamic firms from Karachi Stock Exchange (KSE) 100 index in Pakistan over the
period of 2010-2014. The results show that corporate cash holding has negative and
significant relationship with earnings per share and returns on assets (EPS and
ROA), while it has a positive and statistically significant relationship with
Tobin's Q and market share price (TQ, MSP) in both KMI 30- and KSE 100-indexed
firms. In addition, we find that the structure of corporate governance is poorly
performed in KMI 30- and KSE 100-indexed firms. This poor governance structure
leads to the firms dispelling cash quickly, which significantly reduces the
performance of these firms. So the firms can increase their performance by
establishing effective corporate governance structure.
C1 [Aslam, Ejaz] IIUM, IIUM Inst Islamic Banking & Finance, Jalan Gombak, Kuala
Lumpur 53100, Malaysia.
[Kaum, Rukhsana] Univ Management & Technol, Inst Islamic Banking, Lahore,
Punjab, Pakistan.
[Fizza, Sadia] Univ Management & Technol, Sch Business & Econ, Lahore, Punjab,
Pakistan.
RP Aslam, E (corresponding author), IIUM, IIUM Inst Islamic Banking & Finance,
Jalan Gombak, Kuala Lumpur 53100, Malaysia.
EM ejazaslam95@gmail.com
RI Aslam, Ejaz/AAJ-3886-2020
NR 51
TC 1
Z9 1
U1 1
U2 3
PU SAGE PUBLICATIONS LTD
PI LONDON
PA 1 OLIVERS YARD, 55 CITY ROAD, LONDON EC1Y 1SP, ENGLAND
SN 0972-1509
EI 0973-0664
J9 GLOB BUS REV
JI Glob. Bus. Rev.
PD APR
PY 2019
VL 20
IS 2
BP 313
EP 330
DI 10.1177/0972150918825202
PG 18
WC Business
GA HW8FI
UT WOS:000466924200003
DA 2020-08-12
ER
PT J
AU Safiullah, M
Shamsuddin, A
AF Safiullah, Md
Shamsuddin, Abul
TI Risk-adjusted efficiency and corporate governance: Evidence from Islamic
and conventional banks
SO JOURNAL OF CORPORATE FINANCE
LA English
DT Article
DE Cost efficiency; Profit efficiency; Islamic banking; Shariah supervisory
board; Stochastic meta-frontier
ID METAFRONTIER PRODUCTION FUNCTION; COST EFFICIENCY; PROFIT EFFICIENCY;
PERFORMANCE; FRONTIER; INEFFICIENCY; INDUSTRY; FOREIGN; CRISIS; IMPACT
AB Previous studies have compared the efficiency of Islamic banks with their
conventional counterparts using a common efficiency frontier and ignoring risks, in
spite of the two bank groups operating under different technological, market and
institutional conditions. We overcome this issue by estimating efficiency using the
stochastic meta-frontier model for a large international sample, and show that
compared to conventional banks, Islamic banks are 4 percentage points more cost
efficient, but 17 percentage points less profit efficient on a risk-adjusted basis.
For both bank types, higher bank risk reduces cost efficiency but increases profit
efficiency, implying that risks contribute more to generating revenues than
inflating costs. Having a stronger Shariah supervisory board is conducive to
improving Islamic banks' profit efficiency. Our findings are robust to accounting
for potential endogeneity in the governance-efficiency relationship.
C1 [Safiullah, Md] La Trobe Univ, La Trobe Business Sch, Bundoora, Vic 3086,
Australia.
[Shamsuddin, Abul] Univ Newcastle, Newcastle Business Sch, Newcastle, NSW 2300,
Australia.
RP Safiullah, M (corresponding author), La Trobe Univ, La Trobe Business Sch,
Bundoora, Vic 3086, Australia.
FU Department of Banking and Insurance, University of Dhaka, Bangladesh
FX We thank George Battese, Christopher O'Donnell, Cliff Huang, Iftekhar
Hasan, Subal Kumbhakar, Mark Tippett and Amir Arjomandi for their
helpful comments. We also acknowledge comments from the anonymous
reviewers of this journal and the KFUPM Islamic Banking and Finance
Research Conference, 19-20 November 2017, Saudi Arabia. The
corresponding author is grateful to the Department of Banking and
Insurance, University of Dhaka, Bangladesh for reserach support.
NR 75
TC 4
Z9 4
U1 2
U2 16
PI AMSTERDAM
SN 0929-1199
EI 1872-6313
J9 J CORP FINANC
JI J. Corp. Financ.
PD APR
PY 2019
VL 55
SI SI
BP 105
EP 140
DI 10.1016/j.jcorpfin.2018.08.009
PG 36
GA HS8AT
UT WOS:000464091100006
DA 2020-08-12
ER
PT J
AU Belal, AR
Mazumder, MMM
Ali, M
AF Belal, Ataur Rahman
Mazumder, Mohammed Mehadi Masud
Ali, Mohobbot
TI Intellectual capital reporting practices in an Islamic bank: A case
study
SO BUSINESS ETHICS-A EUROPEAN REVIEW
LA English
DT Article
DE Bangladesh; case study; external capital; human capital; intellectual
capital reporting; internal capital; Islamic banking
ID CORPORATE GOVERNANCE; PERFORMANCE; DISCLOSURE; COMPANIES; INSIGHTS;
FINANCE; ETHICS
AB Given the nature and importance of Islamic banks in recent times, we can expect
them to have significant intellectual capital anchored in their Sharia-based
knowledge and expertise. However, we know very little or nothing about how and why
intellectual capital-related information is provided in their corporate reports. We
fill this gap in our existing knowledge of the field with a view to enhance
relevant literature. As far as we know, this article is one of the earliest
exploratory attempts to examine intellectual capital reporting practices of an
Islamic bank. We have undertaken a longitudinal (2001-2015) case study related to
the intellectual capital reporting practices of an Islamic bank. Key results
include significant rise of intellectual capital reporting over time, dominance of
internal capital-related items in intellectual capital reporting profile and the
dynamics of changes in intellectual capital reporting practices over time. Through
an institutional theory lens, we explain that this is due to the changes in the
external institutional environment and various intra-organisational factors such as
strong ethical culture, unique knowledge base (Sharia), and corporate governance
regime.
C1 [Belal, Ataur Rahman] Univ Sheffield, Sheffield Univ Management Sch, Conduit Rd,
Sheffield S10 1FL, S Yorkshire, England.
[Mazumder, Mohammed Mehadi Masud; Ali, Mohobbot] Univ Dhaka, Dept Accounting &
Informat Syst, Dhaka, Bangladesh.
RP Belal, AR (corresponding author), Univ Sheffield, Sheffield Univ Management Sch,
Conduit Rd, Sheffield S10 1FL, S Yorkshire, England.
EM a.r.belal@sheffield.ac.uk
OI BELAL, ATAUR/0000-0001-6144-8907; Mazumder, Dr Mohammed Mehadi
Masud/0000-0003-4093-1179
NR 77
TC 1
Z9 1
U1 2
U2 17
PU WILEY
PI HOBOKEN
SN 0962-8770
EI 1467-8608
J9 BUS ETHICS
JI Bus. Ethics
PD APR
PY 2019
VL 28
IS 2
BP 206
EP 220
DI 10.1111/beer.12211
PG 15
WC Business; Ethics
GA HO7AE
UT WOS:000461085200005
DA 2020-08-12
ER
PT J
AU Alsartawi, AM
AF Alsartawi, Abdalmuttaleb Musleh
TI Board independence, frequency of meetings and performance
LA English
DT Article
DE Performance; Corporate governance; Islamic banking; Board independence;
GCC; Frequency of meetings
ID CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE; DIRECTORS; PREFERENCES;
DYNAMICS
AB Purpose This study aims to investigate the relationship between board structure
and performance from an Islamic point of view. Design/methodology/approach
Consequently, the researcher developed a multiple linear regression model to
investigate the nature of this relationship, whereby return on assets (ROA) was
used to measure the performance of listed Islamic Banks in Gulf Cooperation
Council, covering the period between 2013 and 2016. Findings The results indicated
a negative relationship between board structure and the performance of Islamic
banks.
Research limitations/implications - Because the current study only used
accounting-based performance indicator (ROA), the researcher suggests expanding the
framework of this study through the addition of market-based performance indicators
such as Tobin's Q.
Practical implications - Therefore, the researcher recommends that regulators of
Islamic banks in the GCC need to develop a set of strict restrictions for the
selection of independent members of the board and to minimize the meetings of the
board to reduce the cost of preparing information and the information asymmetry,
thus improving performance.
Originality/value - This study provides guidelines regarding the appropriate
number of independent directors and board meetings that will result in reduced
monitoring costs and improved profits.
C1 [Alsartawi, Abdalmuttaleb Musleh] Ahlia Univ, Dept Accounting & Econ, Coll
Business & Finance, Manama, Bahrain.
RP Alsartawi, AM (corresponding author), Ahlia Univ, Dept Accounting & Econ, Coll
Business & Finance, Manama, Bahrain.
EM amasartawi@hotmail.com
RI ALSARTAWI, ABDALMUTTALEB MUSLEH/AAR-4934-2020
OI ALSARTAWI, ABDALMUTTALEB MUSLEH/0000-0001-9755-5106
NR 47
TC 2
Z9 2
U1 1
U2 8
PI BINGLEY
SN 1759-0833
EI 1759-0841
J9 J ISLAMIC MARK
JI J. Islamic Mark.
PD MAR 4
PY 2019
VL 10
IS 1
BP 290
EP 303
DI 10.1108/JIMA-01-2018-0017
PG 14
WC Business
GA HM4ZJ
UT WOS:000459483600013
DA 2020-08-12
ER
PT J
AU Yunanda, RA
Tareq, MA
Mahdzir, AB
Rahman, FK
AF Yunanda, Rochania Ayu
Tareq, Mohammad Ali
Mahdzir, Akbariah Binti
Rahman, Faried Kurnia
TI NATIONAL CULTURE AND TRANSPARENCY: EVIDENCE FROM ISLAMIC BANKS
SO RISUS-JOURNAL ON INNOVATION AND SUSTAINABILITY
LA English
DT Article
DE Cultural values; Shariah disclosure; Social disclosure; Islamic banks
ID CORPORATE GOVERNANCE; PERFORMANCE; INSTITUTIONS; DISCLOSURE
AB The purpose of this paper is to investigate the effects of predominant cultural
values on banking disclosure. On one hand, Islamic banks have practiced Islamic
principles which are universal for all countries. Islamic banks are expected to
provide transparent information especially in terms of social and Shariah(Islamic)
compliant information as Islamic banks claim themselves to have social objectives
as the prime consideration. Islamic banks also have Shariah supervisory body to
ensure that the banking activities and business operations are in line with Islamic
requirements. On the other hand, Hofstede's cultural dimensions and Gray's
hypotheses have rendered remarkable contributions in financial and accounting
practices among different nations. Examining 45 Islamic banks in 11 Moslem majority
countries, this paper focuses on four particular cultural dimensions namely
individualism/collectivism, masculinity/femininity, uncertainty avoidance, and
power distance and whether these dimensions have an impact on transparency. This
study found that two out of four national cultures still have significant effect on
the transparency level in Moslem majority countries.
C1 [Yunanda, Rochania Ayu; Tareq, Mohammad Ali; Mahdzir, Akbariah Binti; Rahman,
Faried Kurnia] Univ Tecnol, Management Technol, MJIIT, Kuala Lumpur, Malaysia.
RP Yunanda, RA (corresponding author), Univ Tecnol, Management Technol, MJIIT,
Kuala Lumpur, Malaysia.
EM anda1st@gmail.com; tareq@utm.my; akbariah.kl@utm.my; fariedkr@gmail.com
RI Tareq, Mohammad Ali/D-5524-2016
OI Tareq, Mohammad Ali/0000-0001-5521-8814
NR 28
TC 0
Z9 0
U1 0
U2 7
PU PONTIFICIA UNIV CATOLICA SAO PAULO-PUC-SP
PI SAO PAULO
PA RUA LUIS FELIPE ATALHA 9, ALTO MOOCA, SAO PAULO, SP 03180-070, BRAZIL
SN 2179-3565
J9 RISUS
JI RISUS
PD MAR-MAY
PY 2019
VL 10
IS 1
BP 101
EP 109
DI 10.24212/2179-3565.2019v10i1p101-109
PG 9
WC Management
GA HO6ED
UT WOS:000461021300009
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Abou-El-Sood, H
AF Abou-El-Sood, Heba
TI Corporate governance and risk taking: the role of board gender diversity
SO PACIFIC ACCOUNTING REVIEW
LA English
DT Article
DE Emerging markets; Islamic banks; Corporate governance; Gender diversity;
Risk taking
ID OWNERSHIP STRUCTURE; CAPITAL REGULATION; DECISION-MAKING; WOMEN; BANKS;
DIRECTORS; MANAGEMENT; INSTITUTIONS; RELIGIOSITY; MINORITIES
AB Purpose This paper aims to investigate the association between board gender
diversity and bank risk taking in an emerging market context.
Design/methodology/approach The association between female board directorship and
bank risk taking is examined, while controlling for board characteristics,
managerial, concentrated, family and government ownership. Two-stage regression
with instrumental variables is used for a sample of banks listed in Gulf
Cooperation Council (GCC) countries during 2002-2014. Findings Results show that
banks with more female board directors invest in less risky positions; the
association is attenuated when the regulatory capital is larger, providing
protection against risky investments, and female directors tend to invest less in
risky asset positions in Islamic banks relative to conventional banks. Practical
implications - The relevance of the findings stems from the recent initiatives
undertaken by the Basel Committee to address deficient corporate governance
structures that lead to bank breakdowns and the diversified economy of the fast-
growing GCC market, relying on banking services in the aftermath of the oil price
drop.
Originality/value - This paper provides novel evidence on the influence of board
gender diversity on bank risk taking in an emerging market context. This paper
fills a gap in prior research by examining bankspecific regulatory capital adequacy
and Islamic banking aspects.
C1 [Abou-El-Sood, Heba] Cairo Univ, Fac Commerce, Accounting Dept, Cairo, Egypt.
RP Abou-El-Sood, H (corresponding author), Cairo Univ, Fac Commerce, Accounting
Dept, Cairo, Egypt.
EM h.abouelsood@foc.cu.edu.eg
FU GOLCER ONE at Lancaster University
FX An earlier version of this paper has benefited from comments of the
participants of the 13th conference of the BAFA special interest group
accounting and finance in emerging economies at University of
Huddersfield. The author also acknowledges comments from Gerry Steele
and the support provided by GOLCER ONE at Lancaster University.
NR 91
TC 0
Z9 0
U1 2
U2 15
PI BINGLEY
SN 0114-0582
EI 2041-5494
J9 PAC ACCOUNT REV
JI Pac. Account. Rev.
PD FEB 4
PY 2019
VL 31
IS 1
BP 19
EP 42
DI 10.1108/PAR-03-2017-0021
PG 24
GA HP2HZ
UT WOS:000461490500002
DA 2020-08-12
ER
PT J
AU Zahid, SN
Khan, I
AF Zahid, Syeda Nitasha
Khan, Imran
TI Islamic Corporate Governance: The Significance and Functioning of
Shari'ah Supervisory Board in Islamic Banking
SO TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE
LA English
DT Article
DE Shari'ah Supervisory Board; Corporate Governance; Shari'ah Board
Functions; Performance; Islamic Banks
ID CONVENTIONAL BANKS; FINANCIAL INSTITUTIONS; PERFORMANCE; RISK; GCC;
DETERMINANTS; MANAGEMENT
AB The stability and resilience that Islamic banking (IBs) industry has shown
during the current global crisis is based on the principles of Islamic economic
laws that rest on equity, participation, and business ethics. The literature on
Islamic corporate governance (ICG) is growing quite rapidly and the industry has
emerged as an alter native to its conventional counterpart. This paper critically
reviews the existing literature on ICC with a particular focus on the significance
and functions of Shari'ah supervisory board (SSB), which differentiate IBs from
CBs. This review describes ICG framework, elaborates and summarizes SSB functions,
compares lBs with CBs and assesses the impact of SSB on IB's performance. The key
findings show that majority of the literature on SSB describes advising and
monitoring as the two main functions of a Shari'ah board and past literature
supports positive association between Shari'ah governance and the performance of
lBs. This work might be helpful for scholars and practitioners approaching this
field to study the role and functioning of SSB.
C1 [Zahid, Syeda Nitasha; Khan, Imran] COMSATS Univ, Islamabad, Pakistan.
RP Zahid, SN (corresponding author), COMSATS Univ, Islamabad, Pakistan.
EM syeda.nitasha@ymail.com; imrankjadoon@ciit.net.pk
RI Khan, Imran/AAQ-5637-2020
NR 73
TC 0
Z9 0
U1 0
U2 5
PU RESEARCH CENTER ISLAMIC ECONOMICS-IKAM
PI ISTANBUL
PA AZIZ MAHMUT HUDAYI MAH TURBE KAPISI SOK NO 13 USKUDAR, ISTANBUL, 00000,
TURKEY
SN 2587-2303
EI 2587-232X
J9 TURK J ISLAMIC ECON
JI Turk. J. Islamic Econ.
PD FEB
PY 2019
VL 6
IS 1
BP 87
EP 108
DI 10.26414/A048
PG 22
WC Economics
GA HN4JV
UT WOS:000460151100005
OA Other Gold
DA 2020-08-12
ER
PT J
AU Bukair, AAA
AF Bukair, Abdullah Awadh Abdullah
TI Factors influencing Islamic banks' capital structure in developing
economies
LA English
DT Article
DE Capital structure; Islamic banks; Trade-off theory; Firm characteristics
ID DETERMINANTS; RISK; FINANCE; PERFORMANCE; CORPORATE; COST
AB Purpose This paper aims to investigate the influence of company-specific
attributes on capital structure decisions of Islamic banks (IBs) in Gulf
Cooperation council (GCC) countries during the period 2009-2011.
Design/methodology/approach To improve the econometric estimates' efficiency, the
paper uses the generalized least square (GLS) regression model to increase the
levels of freedom and reduce collinearity. Findings The empirical results indicate
that bank size, liquidity and corporate age are positively associated with the
leverage ratio of GCC IBs, supporting the trade-off theory. Inconsistent with
theoretical predictions, it is found that the profitability, tangibility and growth
have positive insignificant relationship with the level of leverage, suggesting
these determinants are not important in capital structure decisions. Furthermore,
gross domestic product (GDP) and non-debt tax shield have negative effects on the
leverage ratio and significant for GDP.
Research limitations/implications - Overall, the evidence provided in the study
highlights the significance of company-specific characteristics in determining and
affecting the capital structure decisions of IBs in GCC countries. It is useful to
use these variables in the analysis of IBs' capital structure in the GCC region
before the financial crisis in 2007. One limitation for this study is that the
sample is restricted to only the Islamic banking sector. Future research could
include all Islamic financial institutions (IFIs) operating within the Gulf region.
Second, the study only concentrates on GCC countries to the neglect of other
countries. Finally, the study controls for the country level only and does not
account for firm factors. Future research could consider all these limitations.
Another possible avenue is by examining other variables, such as corporate
governance mechanisms.
Originality/value - Despite that most previous studies investigated the
determinants of the capital structure of financial conventional industries,
research on Islamic banking is almost non-existent. Moreover, the extant literature
on Islamic finance has been theoretically explored, and the empirical research
regarding capital structure is still in the infancy stage. Accordingly, it is
evident that based on the Islamic trade-off perspective, theoretical hypotheses and
empirical findings provide a novel addition to the capital structure theory for
IFIs.
C1 [Bukair, Abdullah Awadh Abdullah] Hadhramout Univ, Fac Adm Sci, Accounting Dept,
Mukalla, Yemen.
RP Bukair, AAA (corresponding author), Hadhramout Univ, Fac Adm Sci, Accounting
Dept, Mukalla, Yemen.
EM bukairaaa@yahoo.com
NR 59
TC 0
Z9 0
U1 1
U2 10
PI BINGLEY
SN 1759-0817
EI 1759-0825
PD JAN 7
PY 2019
VL 10
IS 1
BP 2
EP 20
DI 10.1108/JIABR-02-2014-0008
PG 19
GA HI3GY
UT WOS:000456337800001
DA 2020-08-12
ER
PT J
AU Alsartawi, AM
AF Alsartawi, Abdalmuttaleb Musleh
TI Performance of Islamic banks Do the frequency of Shari' ah supervisory
board meetings and independence matter?
SO ISRA INTERNATIONAL JOURNAL OF ISLAMIC FINANCE
LA English
DT Article
DE Shari ah governance; Shari ah supervisory hoard independence; Shariah
supervisory hoard frequency of meetings; Performance; Islamic banking
ID CORPORATE GOVERNANCE; FIRM PERFORMANCE; DIRECTORS
AB Purpose This paper aims to investigate the relationship between the composition
of Shari' ah supervisory boards (independence and frequency of meetings) and the
performance of Islamic banks in the Gulf Cooperation Council (GCC) countries.
Design/methodology/approach The study developed a multiple linear regression model,
and data. were collected from the annual reports of 48 standalone Islamic banks
listed in the GCC countries covering the period between 2013 and 2017. Findings The
results showed a statistically significant and negative relationship between the
composition of the Shari' ah supervisory boards and the performance of Islamic
banks. Research limitations/implications As the current study used only one
indicator, that is Return on Assets to measure performance, it is recommended to
expand the framework of this study, through the addition of market-based
performance indicators such as Tobin's Q. Practical implications This study
recommends the GCC countries to follow a more proactive Shari` ah governance model
to strengthen their frameworks from both regulatory and non-regulatory aspects.
Originality/value The study contributes to the Shari' ah governance and Islamic
banking literature relating to the GCC countries as previous studies gave no
attention to the composition of Shari' ah supervisory boards.
C1 [Alsartawi, Abdalmuttaleb Musleh] Ahlia Univ, Dept Accounting & Econ, Manama,
Bahrain.
RP Alsartawi, AM (corresponding author), Ahlia Univ, Dept Accounting & Econ,
Manama, Bahrain.
EM amasartawi@hotmail.com
RI MUSLEH ALSARTAWI, ABDALMUTTALEB/F-4955-2015
OI MUSLEH ALSARTAWI, ABDALMUTTALEB/0000-0001-9755-5106
NR 53
TC 1
Z9 1
U1 0
U2 0
PI BINGLEY
SN 0128-1976
EI 2289-4365
J9 ISRA INT J ISLAMIC F
JI ISRA Int. J. Islamic Financ.
PY 2019
VL 11
IS 2
BP 303
EP 321
DI 10.1108/IJIF-05-2018-0054
PG 19
GA KK5JR
UT WOS:000512778500009
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Kabuye, F
Bugambiro, N
Akugizibwe, I
Nuwasiima, S
Naigaga, S
AF Kabuye, Frank
Bugambiro, Nicholas
Akugizibwe, Irene
Nuwasiima, Sharon
Naigaga, Sharon
TI The influence of tone at the top management level and internal audit
quality on the effectiveness of risk management practices in the
financial services sector
SO COGENT BUSINESS & MANAGEMENT
LA English
DT Article
DE financial services firms; tone at the top management level; internal
audit quality; risk management practices
ID CORPORATE GOVERNANCE; ISLAMIC BANKS; ORGANIZATIONS; DETERMINANTS;
PERCEPTIONS; KNOWLEDGE
AB The purpose of this study is to examine the contribution made by the tone at the
top management level and internal audit quality on the effectiveness of risk
management practices (RMPs) in the financial services sector. This study is cross-
sectional and correlational, and it uses firm-level data that were collected by
means of a questionnaire survey from a sample of 62 financial services firms in
Uganda. Results suggest that the tone at the top management level and internal
audit quality are both significant predictors of effective RMPs. However, the
predictive potential of tone at the top management level towards effective RMPs
reduces when internal audit quality is present. These results support the idea that
in terms of agency theory, top management should oversee and review the
organization's risks as a way of spearheading effective RMPs. Similarly, internal
auditors should sufficiently and appropriately review and coordinate risk
management efforts in the organization, since high-quality internal audits lead to
effective RMPs. Top managers of financial services firms should encourage periodic
reviews of the appropriateness and effectiveness of risk management systems and
controls. At the same time, regulators should ensure that top managers of financial
services firms have adequate risk management expertise, with no conflict of
interest and apply mechanisms that detect significant risks in time. The study
contributes to the strategic risk management position by showing that the tone at
the top management level and internal audit quality sets pace for an organization
culture towards effective RMPs.
C1 [Kabuye, Frank; Bugambiro, Nicholas; Akugizibwe, Irene; Nuwasiima, Sharon;
Naigaga, Sharon] Makerere Univ, Dept Accounting, Business Sch, Kampala, Uganda.
RP Kabuye, F (corresponding author), Mokerere Univ, Accounting, Business Sch,
Kampala, Uganda.
EM fkabuye@mubs.ac.ug; nbugambiro@mubs.ac.ug; iakugizibwe@mubs.ac.ug;
snuwasiima@mubs.ac.ug; snaigaga@mubs.ac.ug
RI KABUYE, FRANK/P-2392-2018
OI KABUYE, FRANK/0000-0002-9367-9950
NR 97
TC 0
Z9 0
U1 2
U2 2
PU TAYLOR & FRANCIS AS
PI OSLO
PA KARL JOHANS GATE 5, NO-0154 OSLO, NORWAY
SN 2331-1975
J9 COGENT BUS MANAG
JI Cogent Bus. Manag.
PD JAN 1
PY 2019
VL 6
IS 1
AR 1704609
DI 10.1080/23311975.2019.1704609
PG 24
WC Business
GA JZ5AH
UT WOS:000505114000001
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Lee, HS
Cheng, FF
Har, WM
Nassir, AM
Ab Razak, NH
AF Lee, Hui Shan
Cheng, Fan Fah
Har, Wai Mun
Md Nassir, Annuar
Ab Razak, Nazrul Hisyam
TI Efficiency, firm-specific and corporate governance factors of the
Takaful insurance
SO INTERNATIONAL JOURNAL OF ISLAMIC AND MIDDLE EASTERN FINANCE AND
MANAGEMENT
LA English
DT Article
DE Insurance; Corporate governance; Efficiency; DEA; Islamic financial
institution
ID BANKS EMPIRICAL-EVIDENCE; COST EFFICIENCY; BOARD CHARACTERISTICS;
PRODUCTIVITY; PERFORMANCE; RISK; INDUSTRY; DETERMINANTS; COMPETITION;
COMPANIES
AB Purpose - Malaysia is recognised as an emerging country with a large Muslim
population, making the Malaysian Takaful industry the largest Takaful market in the
Southeast Asia region and, notably, one of the fastest growing markets globally.
Malaysia is also the first country globally to implement a risk-based capital
framework for Takaful. Therefore, the purpose of this paper is to identify the
factors that influence the efficiency level (cost efficiency and technical
efficiency) of the Takaful industry and to examine the effects of Takaful insurance
firms' specific factors and corporate governance factors that influence the
efficiency of Takaful insurance in Malaysia.
Design/methodology/approach - In this paper, the efficiency level of the
Malaysian Takaful industry was examined between 2011 and 2015. The sample consisted
of 11 family Takaful and 8 general Takaful operators. Two-stage Data Envelopment
Analysis (DEA) was used by first, conducting non-parametric frontier data
envelopment analysis to obtain a DEA score for each operator. This was followed by
panel regression with the DEA scores as the dependent variable and the insurance
firms' specific factors and corporate governance factors as the independent
variables.
Findings - The results of DEA indicate that Takaful operators in general have
allocative inefficiency but family Takaful is more cost efficient than general
Takaful. Results of panel data analysis reveal that corporate governance factors do
influence the cost efficiency but find no evidence on the firm-specific factors
towards the cost efficiency and technical efficiency on Takaful operators. Board
size and the proportion of non-executive directors impose a negative and
significant relationship with cost efficiency, while proportion of Muslim directors
in the board is not significant.
Research limitations/implications - This paper focused solely on Malaysia which
uses strict regulations governing the Takaful insurance market. Due diligence was
also performed to minimise any limitation in the paper. It is proposed that future
studies should examine this issue in greater detail by incorporating more data from
other Muslim countries.
Practical implications - The findings of this paper have significant
implications for policymakers to understand the efficiency condition in the Takaful
market. Takaful operators should maintain a small board size with a higher
proportion of executive directors, given they could improve the level of effective
decision-making to enhance the cost efficiency. As corporate governance factors are
significant, Takaful operators in Malaysia should also undertake transparent
disclosure practice and reporting such as providing adequate and relevant
information related to Shariah compliance and principles to provide a robust
foundation as the Takaful market leader regarding Takaful regulations globally.
Social implications - The consumer is able to make a better decision when
choosing Takaful insurance company to protect their interests.
Originality/value - No similar paper has been undertaken to the best of the
researcher's knowledge using similar research design and scope to investigate the
efficiency of Takaful insurance as in this paper. Takaful insurance is a rapidly
growing industry in Malaysia, setting a prime example to other countries globally.
Malaysia was selected for this study, as it is the only nation that has implemented
the most extreme regulation in the Takaful insurance market.
C1 [Lee, Hui Shan; Har, Wai Mun] Univ Tunku Abdul Rahman, Fac Accountancy &
Management, Dept Econ, Kajang, Selangor, Malaysia.
[Lee, Hui Shan; Ab Razak, Nazrul Hisyam] Univ Putra Malaysia, Fac Econ &
Management, Serdang, Selangor, Malaysia.
[Cheng, Fan Fah] Univ Putra Malaysia, Serdang, Selangor, Malaysia.
[Md Nassir, Annuar] Xiamen Univ Malaysia, Sch Econ & Management, Sepang,
Selangor, Malaysia.
RP Lee, HS (corresponding author), Univ Tunku Abdul Rahman, Fac Accountancy &
Management, Dept Econ, Kajang, Selangor, Malaysia.; Lee, HS (corresponding author),
Univ Putra Malaysia, Fac Econ & Management, Serdang, Selangor, Malaysia.
EM huishan.leehuishan@gmail.com
RI Lee, Hui Shan/M-2326-2019
NR 45
TC 1
Z9 1
U1 2
U2 5
PI BINGLEY
SN 1753-8394
EI 1753-8408
J9 INT J ISLAMIC MIDDLE
JI Int.J. Islamic Middle Eastern Finance Manag.
PY 2019
VL 12
IS 3
BP 368
EP 387
DI 10.1108/IMEFM-06-2018-0187
PG 20
GA JT4DC
UT WOS:000500940800004
DA 2020-08-12
ER
PT J
AU AlAbbad, A
Hassan, MK
Saba, I
AF AlAbbad, Amal
Hassan, M. Kabir
Saba, Irum
TI Can Shariah board characteristics influence risk-taking behavior of
Islamic banks?
MANAGEMENT
LA English
DT Article
DE Shariah supervisory board; Risk-taking; Board size; Busy board; Foreign
board; GCC
ID DEPOSIT-INSURANCE; FINANCIAL INSTITUTIONS; CORPORATE GOVERNANCE;
PERFORMANCE; CRISIS; FIRMS; SIZE; DETERMINANTS; OWNERSHIP; BUSINESS
AB Purpose - The purpose of this paper is to study whether the characteristics of
the Shariah Supervisory Board (SSB) can influence the risk-taking behaviors of
Islamic banks.
Design/methodology/approach - The data on governance were collected from 70
Islamic banks' annual reports across 18 countries for the period from 2000 to 2011
to investigate the relationship between SSB's characteristics including size,
busyness and foreign board and the Islamic banks' risk activities.
Findings - The size of SSB and the proportion of busy board in SSB positively
and significantly influence Islamic banks' asset return and insolvency risks.
Foreign members are more effective in monitoring banks' Shariah compliance. Further
analysis provides some evidence that most of the findings on the associations
between the SSB structure and bank risk are derived from countries in the Gulf
Cooperation Council where Shariah governance is ruled internally at the bank level.
Practical implications - There is a need for better Shariah board
characteristics in place that complement with other governance mechanisms to well
comprehend the main purpose of Islamic banks.
Originality/value - SSB board busyness and foreign characteristics appear to
influence the risk-taking behaviors of Islamic banks.
C1 [AlAbbad, Amal] Iona Coll, Dept Accounting, New Rochelle, NY 10801 USA.
[Hassan, M. Kabir] Univ New Orleans, Dept Econ & Finance, New Orleans, LA 70148
USA.
[Saba, Irum] Inst Business Adm, Karachi, Pakistan.
RP AlAbbad, A (corresponding author), Iona Coll, Dept Accounting, New Rochelle, NY
10801 USA.
EM aalabbad@iona.edu
NR 56
TC 1
Z9 1
U1 1
U2 1
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2019
VL 12
IS 4
BP 469
EP 488
DI 10.1108/IMEFM-11-2018-0403
PG 20
GA JT4DG
UT WOS:000500941200001
DA 2020-08-12
ER
PT J
AU Aziz, RA
Abdul-Rahman, A
Markom, R
AF Aziz, Rosli Abdul
Abdul-Rahman, Aisyah
Markom, Ruzian
TI Best Practices for Internal Shariah Governance Framework: Lessons from
Malaysian Islamic Banks
SO ASIAN JOURNAL OF ACCOUNTING AND GOVERNANCE
LA English
DT Article
DE Shariah Governance Framework; Islamic Banking; Best Practices;
Non-Compliance Risk; Shariah Committee
ID CORPORATE GOVERNANCE
AB Comprehensive compliance to Shariah principles ensure confidence among
stakeholders and strong credentials for the banking institutions. The Shariah
Governance Framework (SGF) was introduced by the BNM in 2010 to safeguard Islamic
financial institutions' Shariah compliancy. Non-compliancy to SGF will pose risks
to the banks and cause instability in the financial industry. This study explores
the implementation of the internal SGF in selected Islamic banks. Document reviews
and interviews were conducted to analyse the SGF documentations and practices. The
banks" practices are compared to the Guidelines on the Governance of Shariah
Committee (GGSC) 2005 and the SGF 2010. Roles of major Shariah committees were
reviewed with regard to the banks' internal SGF compliancy to the SGF 2010. The
findings indicate that the Islamic banks are generally compliant to the SGF 2010
provisions. The banks implementation of major Shariah organs has facilitated
regulators in monitoring and mitigating Shariah non-compliancy events or risks. The
most challenging issue faced by the Shariah audit team is limited resources in
terms of on-the job work experience or Shariah knowledge. Thus, it is essential for
Islamic banks to enhance their internal SGF within the scope of the SGF 2010 and
collaborate with training agencies or higher education-related parties in
addressing shortage of skilled manpower.
C1 [Aziz, Rosli Abdul] Maybank Islamic Berhad, Community Banking, Kuala Lumpur,
Malaysia.
[Abdul-Rahman, Aisyah] Univ Kebangsaan Malaysia, Fac Econ & Management, Ukm
Bangi 43600, Selangor, Malaysia.
[Markom, Ruzian] Univ Kebangsaan Malaysia, Fac Law, Ukm Bangi 43600, Selangor,
Malaysia.
RP Abdul-Rahman, A (corresponding author), Univ Kebangsaan Malaysia, Fac Econ &
Management, Ukm Bangi 43600, Selangor, Malaysia.
EM rosli.aziz@gmail.com; eychah@ukm.edu.my; ruzian@ukm.edu.my
FU [EP-2015-049]
FX The authors would like to gratefully acknowledge the YTI-UKM research
grant (EP-2015-049) in supporting this study on Shariah Governance
Practices.
NR 24
TC 0
Z9 0
U1 2
U2 2
PU PENERBIT UNIV KEBANGSAAN MALAYSIA
PI BANGI
PA PENERBIT UNIV KEBANGSAAN MALAYSIA, FAC ECONOMICS & MANAGEMENT, BANGI,
SELANGOR 43600, MALAYSIA
SN 2180-3838
J9 ASIAN J ACCOUNT GOV
JI Asian J. Account. Gov.
PY 2019
VL 12
DI 10.17576/AJAG-2019-12-04
PG 15
GA JT0NH
UT WOS:000500693800006
DA 2020-08-12
ER
PT J
AU Buallay, A
AF Buallay, Amina
TI Corporate governance, Sharia'ah governance and performance A
cross-country comparison in MENA region
MANAGEMENT
LA English
DT Article
DE Cross-country analysis; Corporate governance; MENA countries; Sharia'ah
governance
ID EARNINGS MANAGEMENT; FIRM PERFORMANCE; INSTITUTIONS; INSIGHTS; BANKS;
MODEL
AB Purpose - The performance and effectiveness of governance principles continue to
be a matter of concern (Mollah and Zaman, 2015). Focusing on differences between
conventional and Islamic banks, this study aims to examine the relationship between
governance and bank's operational (return on assets [ROA]), financial (return on
equity [ROE]) and market performance (Tobin's q [TQ]).
Design/methodology/approach - This study examined 127 banks within the Mena
countries for the 10 years 2007 through 2016, for a total of 1270 observations. The
study's independent variable is corporate governance principles; the dependent
variables are ROA, ROE and TQ. Also, the study uses bank- and country-specific
control variables to help measure the relationship between governance and bank
performance.
Findings - The findings deduced from the empirical results demonstrate that
Sharia'ah governance significantly influenced ROA and ROE. However, corporate
governance significantly influenced TQ. Furthermore, the results indicated that
there were differences between Sharia'ah governance and corporate governance with
regard to operational, financial and market performance.
Originality/value - The study provides insights into the differences in the
relationship between Sharia'ah governance, corporate governance and the improvement
of performance, which might be used by both banks to re-adopt the governance
practices in enhancing the operational, financial and market performance.
C1 [Buallay, Amina] Brunel Univ, London, England.
[Buallay, Amina] Ahlia Univ, Manama, Bahrain.
RP Buallay, A (corresponding author), Brunel Univ, London, England.; Buallay, A
(corresponding author), Ahlia Univ, Manama, Bahrain.
EM ameena.buallay.87@gmail.com
NR 65
TC 1
Z9 1
U1 1
U2 1
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2019
VL 12
IS 2
BP 216
EP 235
DI 10.1108/IMEFM-07-2017-0172
PG 20
GA JT4CQ
UT WOS:000500939600004
DA 2020-08-12
ER
PT J
AU Ahmed, ER
Islam, MA
Alabdullah, TTY
Bin Amran, A
AF Ahmed, Essia Ries
Islam, Md Aminul
Alabdullah, Tariq Tawfeeq Yousif
Bin Amran, Arlan
TI Aqualitative analysis on the determinants of legitimacy of sukuk
LA English
DT Article
DE Determinants; Moderating; Shariah Supervisory Board; Sukuk legitimacy
ID SOCIAL-RESPONSIBILITY DISCLOSURE; ISLAMIC BANKS; CORPORATE GOVERNANCE;
SHARIAH COMPLIANCE; DEFAULT; TAKAFUL; CHOICE; BOARD
AB Purpose - This paper aims to investigate the influence of the determinants
(pricing, type of structure, Shariah auditing, Shariah risk and Shariah
documentation) and the sukuk legitimacy among Islamic financial institutions using
a qualitative approach. The paper further explained the significance of the
determinants on legitimacy, evaluated the relationship between sukuk
characteristics and sukuk legitimacy and examined the moderating effect of Shariah
Supervisory Board (SSB) on the relationship.
Design/methodology/approach - The study used a purposive sampling technique to
select the target respondents required for the survey (semi-structured interview).
This technique is applied by selecting members of SSBs among Islamic financial
institutions. A total number of ten members are selected as the sample size for the
study based on their experience and basic knowledge of Fiqh Al-Mua'malat and its
application in Islamic financial institutions.
Findings - The findings revealed that the determinants have a significant impact
on the sukuk legitimacy, meaning that there is a positive and significant
relationship between the determinants and the sukuk legitimacy. In addition, this
study indicates the empirical evidence of the moderating effect of SSB on the
relationship between the determinants and the sukuk legitimacy.
Practical implications - This study has added to the literature by examining the
determinants of sukuk legitimacy while evaluating the moderating effect of SSB on
the relationship. Besides, this might add benefits to the numerous Islamic
financial institutions relating to the amendment of its regulatory frameworks with
the view to pushing the sukuk market investors to move toward asset-backed
structure. In addition, the SSB in central banks must also focus its attention
regarding the sukuk legitimacy and its application among the various Islamic
financial institutions.
Originality/value - This study has added a new discussion to the body of
knowledge, i.e. examining the sukuk legitimacy and its relationship with sukuk
determinants; hence, an approach that is not widely discussed in the previous
studies. Furthermore, conducting such research in the field of Islamic finance
provides novelty in the literature among both emerging and developed economies
including Malaysia. This is because to the best knowledge of the researchers, there
was no empirical study (within the literature) that combined these variables and
evaluated their empirical significance. Accordingly, this would enlighten the
Islamic Ummah and propel the society's intensity toward contributing to knowledge
and might further provide clarification on the determinants and the sukuk
legitimacy to prospective scholars, precisely on the moderating effect of SSB on
the relationship between determinants and legitimacy of sukuk.
C1 [Ahmed, Essia Ries; Bin Amran, Arlan] Univ Sains Malaysia, Grad Sch Business,
George Town, Malaysia.
[Islam, Md Aminul] Univ Malaysia Perlis, Sch Business Innovat &
Technopreneurship, Arau, Perlis, Malaysia.
[Alabdullah, Tariq Tawfeeq Yousif] Univ Basrah, Dept Accounting, Basrah, Iraq.
RP Ahmed, ER (corresponding author), Univ Sains Malaysia, Grad Sch Business, George
Town, Malaysia.
EM essa_ahmed15@yahoo.com
RI Alabdullah, Tariq Tawfeeq Yousif/AAD-4050-2020
NR 143
TC 1
Z9 1
U1 1
U2 6
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2019
VL 10
IS 3
BP 342
EP 368
DI 10.1108/JIABR-01-2016-0005
PG 27
GA IR5MD
UT WOS:000481476800001
DA 2020-08-12
ER
PT J
AU Daud, D
AF Daud, Dalila
TI The role of Islamic governance in the reinforcement waqf reporting: SIRC
Malaysia case
LA English
DT Review
DE Governance; Islamic governance; Waqf; Waqf reporting
AB Purpose - Waqf has the quality of perpetuity so waqf properties cannot be sold,
bought or given as a gift to others. Therefore, it is necessary to make sure that
the property is fully used and properly managed by the Malaysian Islamic councils.
To properly manage these properties, it is essential for the councils to have a
proper reporting. Unfortunatley, this is not the case in the present situation for
waqf. It was found that there is a lack of reporting on waqf matters. The purpose
of this paper is to explore how the Islamic governance can contribute to the
sufficient and adequate of waqf reporting.
Design/methodology/approach - This paper described what is being practised at
present for waqf reporting. A series of Islamic governance literature was proposed
in reinforcing waqf reporting.
Findings - This paper fulfils a gap in prior research by discussing several
systems in Islamic governance to achieve transparency in waqf reporting. The
findings of this paper may provide a significant contribution to any organisation
that act as a trustee for waqf.
Practical implications - This paper provides an opportunity for further
theoretical approach in defining and describing the role of governance in the
reinforcement of waqf reporting. The paper has recommended several strategies
towards better governance in Islamic council, and these suggestions can be offered
to the councils for improvement.
Social implications - This research will be of interest to policy makers,
especially Government and State Government. Given the current debate in Malaysia on
the most appropriate forms of regulation for the Islamic sector, this study aims to
provide valuable insights into the role of Islamic governance in the system of
regulation.
Originality/value - This paper examined several governance system in Islamic
governance to be applied in any Islamic organisation. This paper specifically deals
governance issue that should be practised by present councils to prevent lack in
waqf reporting. This system discusses the ways Islamic councils should perform
since the system was originally implemented by a previous, distinguished caliph,
Umar Al-Khattab.
C1 [Daud, Dalila] Univ Teknol MARA, Fac Accountancy, Shah Alam, Selangor, Malaysia.
RP Daud, D (corresponding author), Univ Teknol MARA, Fac Accountancy, Shah Alam,
Selangor, Malaysia.
EM daliladaud@yahoo.com
RI Daud, Dalila/AAJ-6542-2020
NR 65
TC 0
Z9 0
U1 0
U2 4
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2019
VL 10
IS 3
BP 392
EP 406
DI 10.1108/JIABR-01-2017-0008
PG 15
GA IR5MD
UT WOS:000481476800004
DA 2020-08-12
ER
PT J
AU Qureshi, MH
Abbas, K
AF Qureshi, Muhammad Hussain
Abbas, Kausar
TI PERFORMANCE ANALYSIS OF ISLAMIC AND TRADITIONAL BANKS OF PAKISTAN
SO INTERNATIONAL JOURNAL OF ECONOMICS MANAGEMENT AND ACCOUNTING
LA English
DT Article
DE Performance; Islamic banks; Traditional banks; Pakistan
ID CORPORATE GOVERNANCE; PROFITABILITY; RUNS
AB This paper investigates the consequence of some CAMEL ratios, bank size, type of
bank and governance structure on the financial performance of Banks. It also
performs a relative analysis of Islamic and traditional banks of Pakistan. The
comparative performance analysis is based on descriptive statistics and regression
analysis. Fifteen traditional and two pure Islamic banks are selected for the
analysis. The study period is from 2010-2017. Operational efficiency, asset
quality, liquidity, capital adequacy, size, and profitability ratios along with
governance structure are applied to identify the operational and financial
performance of Islamic and traditional banks of Pakistan. The paper provides strong
evidence that all variables such as CAMEL ratios, bank type and bank size except
governance structure are highly significant in assessing bank performance. The
findings reveal significant implications for policymakers in assessing Islamic and
traditional bank performance in Pakistan, and ascertaining the direction of a
future banking system in Pakistan. Findings of the study also underpin the
awareness and confidence in Islamic banks of Pakistan. Furthermore, to the best of
our knowledge, no comprehensive research in Pakistan has examined the performance
of Islamic and traditional banks with variables under study on the current data
set.
C1 [Qureshi, Muhammad Hussain] Virtual Univ Pakistan, Dept Management Sci, 54
Lawrence Rd, Lahore, Pakistan.
[Abbas, Kausar] Univ Lahore, Dept Management Sci, Pakpattan Campus, Pakpattan,
Pakistan.
RP Qureshi, MH (corresponding author), Virtual Univ Pakistan, Dept Management Sci,
54 Lawrence Rd, Lahore, Pakistan.
EM hussain.qureshi@vu.edu.pk; kausarsial@yahoo.com
NR 52
TC 0
Z9 0
U1 0
U2 0
PU IIUM PRESS
PI SALANGER
PA PO BOX 70 PETALING JAYA, SALANGER, 46700, MALAYSIA
SN 1394-7680
J9 INT J ECON MANAG ACC
JI Int. J. Econ. Manag. Account.
PY 2019
VL 27
IS 1
BP 83
EP 104
PG 22
WC Economics
GA IF7VI
UT WOS:000473293100003
DA 2020-08-12
ER
PT J
AU Chen, NW
Liang, HY
Yu, MT
AF Chen, Naiwei
Liang, Hsin-Yu
Yu, Min-Teh
TI Asset diversification and bank performance: Evidence from three Asian
countries with a dual banking system
LA English
DT Article
DE Diversification; Bank performance; Islamic banking; Panel data
ID GLOBAL FINANCIAL CRISIS; ISLAMIC BANKS; CORPORATE GOVERNANCE;
CONVENTIONAL BANKING; PROFIT EFFICIENCY; RISK; COST; DETERMINANTS;
INSTITUTIONS; FAILURES
AB This study examines the effect of asset diversification on bank performance in
three Asian countries with a dual banking system from 2006 to 2012. We find that
diversification generally has a negative effect on the performance of conventional
banks, but a minimal effect on that of Islamic banks. Considering bank size,
diversification positively affects the profitability of large Islamic and
conventional banks, and such a positive effect is more pronounced among Islamic
banks.
C1 [Chen, Naiwei] Changzhou Univ, Sch Business, Changzhou 213164, Peoples R China.
[Liang, Hsin-Yu] Feng Chia Univ, Coll Business, Taichung 40724, Taiwan.
[Yu, Min-Teh] China Univ Technol, Taipei 11695, Taiwan.
[Yu, Min-Teh] NCCU RIRC, Taipei 11695, Taiwan.
RP Liang, HY (corresponding author), Feng Chia Univ, Coll Business, Taichung 40724,
Taiwan.
EM nwctw@yahoo.com.tw; lianghy@fcu.edu.tw; mtyu@nctu.edu.tw
OI YU, Min-Teh/0000-0003-4686-1327; , Hsin-Yu/0000-0001-8988-6490
NR 57
TC 5
Z9 5
U1 2
U2 13
PI AMSTERDAM
SN 0927-538X
EI 1879-0585
PD DEC
PY 2018
VL 52
SI SI
BP 40
EP 53
DI 10.1016/j.pacfin.2018.02.007
PG 14
GA HF8CK
UT WOS:000454468300004
DA 2020-08-12
ER
PT J
AU Neifar, S
Jarboui, A
AF Neifar, Souhir
Jarboui, Anis
TI Corporate governance and operational risk voluntary disclosure: Evidence
from Islamic banks
SO RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE
LA English
DT Article
DE Corporate governance; Risk disclosure; Operational risk
ID INTELLECTUAL CAPITAL DISCLOSURE; AUDIT COMMITTEES; DETERMINANTS;
OWNERSHIP; BOARD; FIRM
AB The objective of the present paper is to explore the impact of the mechanisms of
corporate governance on the informational content of Operational Risk (OR)
voluntary disclosure. The content analysis method was used to collect data on the
OR disclosure from annual reports of 34 Islamic banks scattered in various
countries and over a period ranging from 2008 to 2014. Using correlation and
multiple regression analyses, our results show that the information disclosed on
OR, especially that of quality, is considered as value-relevant for investors as
they have additional information content in risk assessment of banks. Empirical
results reveal the significant impact of independent directors on the OR voluntary
disclosure reported information. Conversely, the concentration of the chairman and
chief executive officer responsibilities on the same person reduces it. The crucial
presence of monitoring bodies, particularly, the Shariah Supervisory Board and the
external auditor type affect significantly the OR information that listed Islamic
banks disclosure voluntarily in their annual reports.
C1 [Neifar, Souhir] Univ Sfax, Fac Econ Sci & Management Sfax, Sfax, Tunisia.
[Jarboui, Anis] Univ Sfax, Higher Inst Business Adm, ISAAS, Sfax, Tunisia.
RP Neifar, S (corresponding author), Univ Sfax, Fac Econ Sci & Management Sfax,
Sfax, Tunisia.
EM Souhir_ne@yahoo.fr; Anisjarboui@yahoo.fr
NR 58
TC 9
Z9 9
U1 2
U2 41
PI AMSTERDAM
SN 0275-5319
EI 1878-3384
J9 RES INT BUS FINANC
JI Res. Int. Bus. Financ.
PD DEC
PY 2018
VL 46
BP 43
EP 54
DI 10.1016/j.ribaf.2017.09.006
PG 12
GA GU1NF
UT WOS:000445029500004
DA 2020-08-12
ER
PT J
AU Haridan, NM
Hassan, AFS
Karbhari, Y
AF Haridan, Nurfarahin M.
Hassan, Ahmad F. S.
Karbhari, Yusuf
TI Governance, religious assurance and Islamic banks: Do Shariah boards
effectively serve?
SO JOURNAL OF MANAGEMENT & GOVERNANCE
LA English
DT Article
DE Religious assurance; Religious audit; Governance; Shariah boards;
Islamic banks; Malaysia
ID CORPORATE GOVERNANCE; ORGANIZATIONAL LEGITIMACY; FINANCIAL INSTITUTIONS;
AUDIT COMMITTEES; AGENCY PROBLEMS; FIRM; PERFORMANCE; MANAGEMENT;
RESPONSIBILITY; CONSTITUTION
AB This study examines the quality of governance and religious assurance provided
by Shariah boards (SBs) when undertaking the crucial compliance review required in
fulfilling the expected ethical and social legitimacy of Islamic banks. To better
understand the complex behavioural processes, we explore the governance role of SBs
and assess issues related to competence, effectiveness and independence in the
light of the newly adopted 2011 Malaysian Shariah Governance Framework (SGF). A
series of semi-structured interviews were undertaken with key individuals in two
well-established fully-fledged Malaysian Islamic banks. Our findings reveal that
the newly implemented SGF has generally brought about some of the benefits hoped
for by its regulatory architects. We find the quality of religious assurance to
have been enhanced due to the emphasis placed on religious audit giving rise to
improved credibility. However, we report the compliance review process to be
inadequately undertaken with SBs still excessively reliant on internal officers
implying possible independence compromise. We highlight concerns relating to (1)
the general level of competency of individual SB members; (2) lack of technical
banking and finance knowledge; and (3) SB members generally fulfilling a ceremonial
role rather than undertaking vigilant monitoring. Our findings lead us to question
the full impact of the new 2011 SGF and query the value and effectiveness of SBs.
We make the call for the establishment of external religious auditors to render
compliance assurance which could provide the much-needed impetus to improve
governance and increase market and stakeholder confidence.
C1 [Haridan, Nurfarahin M.] Univ Putra Malaysia, Putra Business Sch, Serdang 43400,
Malaysia.
[Hassan, Ahmad F. S.] Univ Putra Malaysia, Fac Econ & Management, Serdang 43400,
Malaysia.
[Karbhari, Yusuf] Cardiff Univ, Cardiff Business Sch, Colum Dr, Cardiff CF10
3EU, S Glam, Wales.
RP Karbhari, Y (corresponding author), Cardiff Univ, Cardiff Business Sch, Colum
Dr, Cardiff CF10 3EU, S Glam, Wales.
EM Karbhari@cardiff.ac.uk
OI Sheikh Hassan, Ahmad Fahmi/0000-0002-5240-8054
NR 127
TC 3
Z9 3
U1 0
U2 5
PU SPRINGER
PI NEW YORK
PA 233 SPRING ST, NEW YORK, NY 10013 USA
SN 1385-3457
EI 1572-963X
J9 J MANAG GOV
JI J. Manag. Gov.
PD DEC
PY 2018
VL 22
IS 4
BP 1015
EP 1043
DI 10.1007/s10997-018-9418-8
PG 29
WC Management
GA HB4TS
UT WOS:000451049700009
OA Other Gold, Green Accepted
DA 2020-08-12
ER
PT J
AU Yahya, F
Ghazali, ZB
AF Yahya, Farzan
Ghazali, Zahiruddin B.
TI The Moderating Role of Country-Specific Characteristics on
Pay-Performance Relationship in Asian Markets: A Meta-Analysis Approach
SO IRANIAN JOURNAL OF MANAGEMENT STUDIES
LA English
DT Article
DE CEO compensation; firm performance; corruption; gender inequality;
literacy
ID EXECUTIVE-COMPENSATION; CORPORATE GOVERNANCE; FIRM PERFORMANCE; CEO
COMPENSATION; FINANCIAL PERFORMANCE; OWNERSHIP STRUCTURE; STATISTICAL
POWER; INDIAN FIRMS; GENDER; CORRUPTION
AB The purpose of this study is to integrate the findings of the studies related to
the relationship between CEO compensation and firm performance in Asian countries.
The second concern of the paper is to explore the moderating role of country-
specific characteristics on the pay-performance relationship in Asian markets. In
order to achieve the study's objective, meta-analysis technique is utilized through
CMA. Basically, the results are analyzed with both the fixed effect and random
effect models. however, the assumption of the fixed effect model regarding same
true effect size was not fulfilled. Moreover, a higher level of heterogeneity was
detected. Therefore, this study ignores the results denoted by the fixed effect
model and follows the results prescribed by the random effect model. After
eliminating outliers, the findings from 22 studies revealed that CEO compensation
in Asian markets is aligned with firm performance but with the small magnitude.
Furthermore, the results from the method of moments suggested that there is a
positive effect of country's development and literacy on the pay-performance link,
however, the negative effect of gender inequality and Islamic practices are
evaluated. Conversely, no significant effect of corruption on the pay-performance
relationship is purported in the study. As the authors find the influence of
country-specific characteristics on the pay-performance relationship in Asian
markets, this study confirms the need for enhancing pay-performance sensitivity in
Asian markets to mitigate potential agency conflicts.
C1 [Yahya, Farzan] Inst Southern Punjab, Multan, Pakistan.
[Ghazali, Zahiruddin B.] Univ Utara Malaysia, Othman Yeop Abdullah Grad Sch
Business, Kedah, Malaysia.
RP Yahya, F (corresponding author), Inst Southern Punjab, Multan, Pakistan.
EM farzan.yahya@yahoo.com
RI Ghazali, Zahiruddin/K-6477-2019; Yahya, Farzan/AAP-1221-2020
OI Yahya, Farzan/0000-0001-5666-1279
NR 116
TC 0
Z9 0
U1 2
U2 51
PU UNIV TEHRAN
PI TEHRAN
PA ENGHELAB AVE, PO BOX 13145-478, TEHRAN, 00000, IRAN
SN 2008-7055
J9 IRAN J MANAG STUD
JI Iran. Journ. Management Studies
PD WIN
PY 2018
VL 11
IS 1
BP 37
EP 69
DI 10.22059/ijms.2018.233899.672683
PG 33
WC Management
GA GG3YG
UT WOS:000432629000003
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Alatassi, B
Letza, S
AF Alatassi, Bchr
Letza, Steve
TI Best practice in bank corporate governance: The case of Islamic banks
SO ECONOMICS AND BUSINESS REVIEW
LA English
DT Article
DE corporate governance; Islamic banking; stewardship theory
ID SHAREHOLDER; OWNERSHIP; ACTIVISM
AB Islamic banks are growing rapidly with annual growth rates of 17.6% between 2009
to 2013 and 19.7% from 2014 to date. This level of growth is projected to continue
into the future. Islamic banks now operate in more than 75 countries with a value
of approximately $920 trillion of bank assets. Islamic banks are increasingly being
seen as good long-term value propositions and are serving both Muslim and non-
Muslim customers across international markets. Despite the rapid growth in Islamic
finance, the underpinning corporate governance rules and regulations are at an
embryonic stage of development with little attention having been paid to them. The
purpose of this paper is to help fill that gap by exploring a conceptual model of
corporate governance for Islamic banks based on both Islamic finance principles
while fused with elements of corporate governance standards from Western theories
and codes, primarily the UK, and thereby ensure that good governance is in place in
Islamic banks. The paper links the predominant corporate governance theories of
Principal/Agent, Stakeholder and Stewardship with practice based corporate
governance codes and explores the potential of applying stewardship theory to
Islamic banks. Islamic principles emphasis is on real assets rather than debt as is
the case in Western Banks and as a consequence this paper offers the conclusion
that the more prudent approach to banking used by Islamic banks could be used as a
model for Western banks and thereby deliver a more sustainable future and maintain
confidence in banks and substitute for the need for taxpayer support, such as the
guaranteed deposit scheme, which acts as a backstop under the Western approach.
C1 [Alatassi, Bchr; Letza, Steve] Bournemouth Univ, Execut Business Ctr, 89
Holdenhurst Rd, Bournemouth BH18 8EB, Dorset, England.
RP Letza, S (corresponding author), Bournemouth Univ, Execut Business Ctr, 89
Holdenhurst Rd, Bournemouth BH18 8EB, Dorset, England.
EM sletza@bournemouth.ac.uk
NR 52
TC 0
Z9 0
U1 1
U2 1
PU DE GRUYTER POLAND SP ZOO
PI WARSAW
PA BOGUMILA ZUGA 32A STR., 01-811 WARSAW, POLAND
SN 2392-1641
EI 2450-0097
J9 ECON BUS REV-POL
JI Econ. Bus. Rev.
PD NOV
PY 2018
VL 4
IS 4
BP 115
EP 133
DI 10.18559/ebr.2018.4.7
PG 19
WC Economics
GA HB6KN
UT WOS:000451177800007
OA DOAJ Gold, Green Accepted
DA 2020-08-12
ER
PT J
AU Nor, NHM
Nawawi, A
Salin, ASAP
AF Nor, Nurul Hizetie Mohamed
Nawawi, Anuar
TI The Impact of Audit Committee Independence and Auditor Choice on Firms'
Investment Level
LA English
DT Article
DE Audit committee independence; auditor choice; corporate governance; firm
size; investment efficiency; Malaysia
ID FINANCIAL-REPORTING QUALITY; ISLAMIC WORK ETHICS; CORPORATE GOVERNANCE;
EARNINGS MANAGEMENT; CAPITAL-MARKET; AGENCY COSTS; INFORMATION; BOARD;
EFFICIENCY; OWNERSHIP
AB The purpose of this study is to examine the relationship between audit
characteristics and firm investment efficiency level. Audit characteristics have
been characterized using audit committee (AC) independence and external auditor
choice. Top 200 Malaysian listed companies based on market capitalization were
selected as a sample. Binomial logistic regression analysis was employed to test
the hypotheses for 3 years, that is, 2009, 2010, and 2011. The statistical results
show no relationship between AC independence and investment inefficiency, while
auditor choice was shown to be positively significant only in 1 year of the study,
but was not significant in the other 2 years of study. The results provide further
confirmation of the role of corporate governance in enhancing the investment
performance of the company. This study provides an indicator to shareholders and
investors that a company with strong governance structure will likely make better
investment decision. Managers under strong governance are prevented from taking an
aggressive investment risk approach that may result in overinvestment. In addition,
the company will carefully plan to have an adequate capital so that a good
opportunity investment will not being passed due to insufficient financing that
will result underinvestment. This study is original, as it focuses on the direct
relationship between corporate governance mechanism and firm investment efficiency
level that is scarce in the literature, with a special focus on emerging markets in
the process of developing their best governance practices.
C1 [Nor, Nurul Hizetie Mohamed] Kolej Teknol Darul Naim, Kota Baharu 16100,
Kelantan, Malaysia.
[Nawawi, Anuar] Univ Teknol MARA, Fac Accountancy, Shah Alam 40450, Selangor,
Malaysia.
[Salin, Ahmad Saiful Azlin Puteh] Univ Teknol MARA, Fac Accountancy, Perak
Branch, Tapah Campus,Tapah Rd, Perak 35400, Malaysia.
Branch, Tapah Campus,Tapah Rd, Perak 35400, Malaysia.
EM hizetie@gmail.com; anuar217@salam.uitm.edu.my;
ahmad577@perak.uitm.edu.my
RI Salin, Ahmad Saiful Azlin Puteh/K-2625-2013
NR 96
TC 2
Z9 2
U1 0
U2 1
PI SELANGOR
SN 0128-7702
EI 2231-8534
PD SEP
PY 2018
VL 26
IS 3
BP 1433
EP 1454
PG 22
GA HH9XW
UT WOS:000456097200014
DA 2020-08-12
ER
PT J
AU Hassan, R
Marimuthu, M
AF Hassan, Rohail
Marimuthu, Maran
TI Contextualizing comprehensive board diversity and firm financial
performance: Integrating market, management and shareholder's
perspective
SO JOURNAL OF MANAGEMENT & ORGANIZATION
LA English
DT Article
DE cognitive diversity; Islamic diversity; board of directors (BODs);
demographic diversity; firm financial performance (Tobin's Q, ROA, ROE)
ID TOP MANAGEMENT; CORPORATE GOVERNANCE; GENDER DIVERSITY; NATIONALITY
DIVERSITY; OWNERSHIP STRUCTURE; ETHNIC DIVERSITY; MODERATING ROLE; UPPER
ECHELONS; TEAM; WOMEN
AB The study investigates demographic diversity, cognitive diversity and internal
diversity within Islam among top-level management of firms and their impacts on the
financial performance of Malaysian-listed companies. In addition, Muslim and non-
Muslim women and Islamic religious diversity on corporate boards are investigated.
Even though numerous organisations desire to be socially diverse, the significance
of diversity for organisational performance remains uncertain. Are profitable
companies inclined to improve board diversity or do other characteristics of the
company contribute to firm performance? Does the participation of Muslim and non-
Muslim women on corporate boards affect firm performance? Does internal diversity
within Islam affect firm performance? Data from 330 Malaysian-listed companies in
eleven full fledged sectors were used for the period from 2009 to 2013. This study
employed econometrics methodology from panel data analysis to fill the research gap
in the current management literature. This study used the interaction approach to
examine empirically diverse corporate boards and their impacts on firm performance.
This discussion included: (1) a combination of gender diversity and ethnic
diversity and (2) a combination of gender diversity and foreign participation. The
findings suggest that demographic, cognitive and internal diversity within Islam
are significant predictors of a firm's financial performance. Ethnic women on
boards have a significant and negative impact on firm performance. Hence, companies
having high profits are more accountable for encouraging diversity among top-level
management.
C1 [Hassan, Rohail; Marimuthu, Maran] Univ Teknol PETRONAS, Dept Management &
Humanities, Perak, Malaysia.
RP Hassan, R (corresponding author), Univ Teknol PETRONAS, Dept Management &
Humanities, Perak, Malaysia.
EM rohail.hassan39@gmail.com
RI Hassan, Rohail/G-1213-2015
OI Hassan, Rohail/0000-0002-7825-0283
NR 112
TC 3
Z9 3
U1 1
U2 18
PU CAMBRIDGE UNIV PRESS
PI CAMBRIDGE
PA EDINBURGH BLDG, SHAFTESBURY RD, CB2 8RU CAMBRIDGE, ENGLAND
SN 1833-3672
EI 1839-3527
J9 J MANAGE ORGAN
JI J. Manag. Organ.
PD SEP
PY 2018
VL 24
IS 5
SI SI
BP 634
EP 678
DI 10.1017/jmo.2018.10
PG 45
WC Management
GA GY9SD
UT WOS:000448989200003
DA 2020-08-12
ER
PT J
AU Rehman, AA
Benamraoui, A
Dad, AM
AF Rehman, Asma Abdul
Benamraoui, Abdelhafid
Dad, Aasim Munir
TI A comparative study of Islamic and conventional banks' risk management
practices: empirical evidence from Pakistan
SO JOURNAL OF BANKING REGULATION
LA English
DT Article
DE Islamic banks; Conventional banks; Risk management practices; Liquidity
risk analysis; Risk governance; Pakistan
ID CORPORATE GOVERNANCE; PERFORMANCE
AB While conventional bank risk management practices are well documented in the
literature, there is limited research devoted at comparing the risk management
practices of Islamic and conventional banks and how the recent financial crisis
affected the approach taken in each banking model to manage the risks. In this
paper, we use self-administered questionnaire to collect data from 150 bank senior
managers and risk specialists from Pakistani conventional and Islamic banks to
identify the main contributing factors to their risk management practices after the
2007-2008 financial crisis. The study results reveal that risk identification, risk
assessment and analysis, credit risk analysis and risk governance are the most
efficient and influential variables in explaining the risk management practices of
Islamic banks, while understanding risk management, credit risk analysis and risk
governance are the most significant and contributing variables in the risk
management practices of conventional banks. Differences are also observed between
Islamic and conventional banks in their liquidity risk analysis and risk
governance. The results presented in this study are likely to benefit bank
managers, investors, regulators and policymakers as they will serve them as guide
when developing, reformulating and overseeing the bank(s) existing risk management
practices.
C1 [Rehman, Asma Abdul] Cardiff Metropolitan Univ, Sch Management, Cardiff CF5 2YB,
S Glam, Wales.
[Benamraoui, Abdelhafid] Univ Westminster, Westminster Business Sch, Dept
Accounting Finance & Governance, 35 Marylebone Rd, London NW1 5LS, England.
[Dad, Aasim Munir] Univ Gloucestershire, Sch Business & Management, Cheltenham
GL50 2RH, Glos, England.
RP Benamraoui, A (corresponding author), Univ Westminster, Westminster Business
Sch, Dept Accounting Finance & Governance, 35 Marylebone Rd, London NW1 5LS,
England.
EM asmaabdul@hotmail.com; a.benamraoui@westmister.ac.uk;
aasimdad@connect.glos.ac.uk
NR 61
TC 2
Z9 2
U1 1
U2 5
PU PALGRAVE MACMILLAN LTD
PI BASINGSTOKE
PA BRUNEL RD BLDG, HOUNDMILLS, BASINGSTOKE RG21 6XS, HANTS, ENGLAND
SN 1745-6452
EI 1750-2071
J9 J BANK REGUL
JI J. Bank Regul.
PD JUL
PY 2018
VL 19
IS 3
BP 222
EP 235
DI 10.1057/s41261-017-0046-z
PG 14
GA HH0FY
UT WOS:000455390800003
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Jaballah, J
Peillex, J
Weill, L
AF Jaballah, Jamil
Peillex, Jonathan
Weill, Laurent
TI Is Being Sharia compliant worth it?
SO ECONOMIC MODELLING
LA English
DT Article
DE Religion; Islamic finance; Event studies
ID CASH HOLDINGS; CORPORATE GOVERNANCE; INDEXES; DELETIONS; INVESTORS;
ADDITIONS; RAMADAN; GROWTH; EVENT; PRICE
AB We investigate the effect of Sharia compliance on stock valuations. To this end,
we examine the price effects of additions to and deletions from the Dow Jones
Islamic Market Index (DJIMI). Using the event study methodology, we measure
abnormal returns for companies from Muslim countries and the US over the period of
2000-2017. We find that additions to the Islamic index lead to a positive stock
market reaction in Muslim countries but a negative reaction in the US. Conversely,
deletions from the Islamic index generate a negative stock market reaction in
Muslim countries but a positive one in the US. The differing valuation effects can
be explained by different perceptions of investors. In Muslim countries, investors
have a positive perception of the Sharia compliance because of religious beliefs,
while in the US they negatively react because of a negative perception of Islam and
of the restrictions associated with Sharia compliance.
C1 [Jaballah, Jamil] Grenoble Ecole Management, 12 Rue Pierre Semard, F-38000
Grenoble, France.
[Peillex, Jonathan] Leonard de Vinci Pole Univ, Res Ctr, Paris, France.
[Peillex, Jonathan] Univ Picardie Jules Verne 10, CRIISEA, BP 2716, F-80027
Amiens 1, France.
[Weill, Laurent] Univ Strasbourg, EM Strasbourg Business Sch, 61 Ave Foret
Noire, F-67000 Strasbourg, France.
RP Weill, L (corresponding author), Univ Strasbourg, EM Strasbourg Business Sch, 61
Ave Foret Noire, F-67000 Strasbourg, France.
EM jamil.jaballah@grenoble-em.com; jonathan.peillex@devinci.fr;
laurent.weill@unistra.fr
OI Peillex, Jonathan/0000-0002-0286-9522
NR 38
TC 1
Z9 1
U1 2
U2 7
PI AMSTERDAM
SN 0264-9993
EI 1873-6122
J9 ECON MODEL
JI Econ. Model.
PD JUN
PY 2018
VL 72
BP 353
EP 362
DI 10.1016/j.econmod.2018.02.011
PG 10
WC Economics
GA GI8AQ
UT WOS:000434744600030
DA 2020-08-12
ER
PT J
AU Farag, H
Mallin, C
Ow-Yong, K
AF Farag, Hisham
Mallin, Chris
Ow-Yong, Kean
TI Corporate governance in Islamic banks: New insights for dual board
structure and agency relationships
SO JOURNAL OF INTERNATIONAL FINANCIAL MARKETS INSTITUTIONS & MONEY
LA English
DT Article
DE Islamic banks; Shari'ah Supervisory Board; Financial performance;
Corporate governance
ID GLOBAL FINANCIAL CRISIS; PANEL-DATA; DIRECTORS; PERFORMANCE; SIZE;
DIVERSITY; DETERMINANTS; ORGANIZATION; SUPERVISION; OWNERSHIP
AB We investigate the influence of the dual board structure on the financial
performance of Islamic banks. The paper also investigates the unique agency
relationships using a sample of 90 Islamic banks across 13 countries over the
period 2006-2014. We find that the larger the Shari'ah Supervisory Board (SSB) the
better the financial performance and this result reinforces the fundamental role of
the SSB to certify permissible financial instruments and products. We also find
evidence of the scope of operation hypothesis with respect to both the board of
directors and the SSB as Islamic banks are characterised by a higher degree of
complex operations. Interestingly, we find that a larger SSB size may result in
lower agency costs and that the greater the size of the unrestricted contracts, the
higher the agency costs. This implies that unrestricted profit-sharing contracts
are one of the main sources of the unique agency relationships in Islamic banks.
The paper has a number of policy implications for regulators including the design
of governance mechanisms in Islamic banks and the dynamics of unrestricted
contracts. (C) 2017 Elsevier B.V. All rights reserved.
C1 [Farag, Hisham; Ow-Yong, Kean] Univ Birmingham, Birmingham Business Sch,
Birmingham B15 2TT, W Midlands, England.
[Mallin, Chris] Univ East Anglia, Norwich Business Sch, Norwich, Norfolk,
England.
RP Farag, H (corresponding author), Univ Birmingham, Birmingham Business Sch,
Birmingham B15 2TT, W Midlands, England.
EM h.farag@bham.ac.uk
NR 72
TC 13
Z9 13
U1 0
U2 7
PU ELSEVIER
PI AMSTERDAM
SN 1042-4431
J9 J INT FINANC MARK I
JI J. Int. Financ. Mark. Inst. Money
PD MAY
PY 2018
VL 54
BP 59
EP 77
DI 10.1016/j.intfin.2017.08.002
PG 19
GA GM5CA
UT WOS:000438145100005
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Ghosh, S
AF Ghosh, Saibal
TI Governance reforms and performance of MENA banks: Are disclosures
effective?
SO GLOBAL FINANCE JOURNAL
LA English
DT Article
DE Corporate governance; Disclosures; Profitability; Stability; MENA
ID CORPORATE GOVERNANCE; CAPITAL REQUIREMENTS; MONETARY-POLICY; MORAL
HAZARD; RISK-TAKING; FIRM; PROFITABILITY; DETERMINANTS; COMPETITION;
EFFICIENCY
AB Relatively little research has addressed the impact of corporate governance
reforms and associated disclosure norms on the performance of MENA country banks.
We combine the staggered timing of corporate governance reforms related to
disclosures across MENA countries with bank-level data for the period 2000-2012 to
examine this impact. The analysis suggests that certain categories of disclosures-
specifically, disclosures of board independence and foreseeable risk-significantly
affect bank performance and stability. The key channels through which this
influence works are lower interest costs, better access to finance, and improved
regulatory standards. The results also suggest that reforms related to disclosure
exert a differential effect on the performance and stability of Islamic banks.
C1 [Ghosh, Saibal] Ctr Adv Financial Res & Learning Ft, Mumbai 400001, Maharashtra,
India.
RP Ghosh, S (corresponding author), Ctr Adv Financial Res & Learning Ft, Mumbai
400001, Maharashtra, India.
EM saibalghosh@rbi.org.in
RI Ghosh, Saibal/M-2476-2019
NR 118
TC 4
Z9 4
U1 0
U2 8
PU JAI PRESS INC
PI STAMFORD
PA 100 PROSPECT ST, PO BOX 811, STAMFORD, CT 06901 USA
SN 1044-0283
EI 1873-5665
J9 GLOB FINANC J
JI Glob. Financ. J.
PD MAY
PY 2018
VL 36
BP 78
EP 95
DI 10.1016/j.gfj.2018.01.002
PG 18
GA GE0AQ
UT WOS:000430875800006
DA 2020-08-12
ER
PT J
AU Elnahass, M
Izzeldin, M
Steele, G
AF Elnahass, Marwa
Izzeldin, Marwan
Steele, Gerald
TI Capital and Earnings Management: Evidence from Alternative Banking
Business Models
SO INTERNATIONAL JOURNAL OF ACCOUNTING
LA English
DT Article
DE IFRS; Regulatory capital management; Earnings management; Expected loan
losses; Incurred loan losses
ID LOAN-LOSS PROVISIONS; ISLAMIC FINANCIAL INSTITUTIONS; CORPORATE
GOVERNANCE; CONVENTIONAL BANKS; BEHAVIOR; STANDARDS; RELIGION; IMPACT;
RISK
AB This paper examines whether institutional characteristics distinguishing Islamic
from conventional banks lead to distinctive capital and earnings management
behavior through the use of loan loss provisions. In our sample countries, the two
banking sectors operate under different regulatory frameworks: conventional banks
currently apply the "incurred" loan loss model until 2018 whereas Islamic banks
mandatorily adopt an "expected" loan loss model. Our results provide significant
evidence of capital and earnings management practices via loan loss provisions in
conventional banks. This finding is more prominent for large and loss-generating
banks. By contrast, Islamic banks tend not to use loan loss provisions in either
capital or earnings management, irrespective of the bank's size, earnings profile,
or the structure of their loan loss model. This difference may be attributed to the
constrained business model of Islamic banking, strict governance, and ethical
orientation.
C1 [Elnahass, Marwa] Newcastle Univ, Business Sch, Dept Accounting & Finance,
Newcastle NE14SE, England.
[Izzeldin, Marwan; Steele, Gerald] Univ Lancaster, Management Sch, Lancaster,
England.
RP Elnahass, M (corresponding author), Newcastle Univ, Business Sch, Dept
Accounting & Finance, Newcastle NE14SE, England.
EM marwa.elnahas@newcastle.ac.uk
OI Elnahass, Marwa/0000-0002-8809-4165
NR 64
TC 2
Z9 2
U1 1
U2 11
PU WORLD SCIENTIFIC PUBL CO PTE LTD
PI SINGAPORE
PA 5 TOH TUCK LINK, SINGAPORE 596224, SINGAPORE
SN 1094-4060
EI 2213-3933
J9 INT J ACCOUNT
JI Int. J. Account.
PD MAR
PY 2018
VL 53
IS 1
BP 20
EP 32
DI 10.1016/j.intacc.2018.02.002
PG 13
GA GC4SP
UT WOS:000429775400002
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Safiullah, M
Shamsuddin, A
AF Safiullah, Md
Shamsuddin, Abul
TI Risk in Islamic banking and corporate governance
LA English
DT Article
DE Islamic banking; Shariah supervisory board; Ownership concentration;
Risk
ID LARGE SHAREHOLDERS; FINANCIAL CRISIS; TOP MANAGEMENT; PANEL-DATA; CEO
POWER; PERFORMANCE; BOARD; DIRECTORS; MARKETS; MODEL
AB We examine the differences in risk between Islamic and conventional banks with
specific attention to the role of Shariah supervisory board (SSB) composition on
risk in Islamic banks. Using a sample of banks from 28 countries, we find that
Islamic banks have a higher liquidity risk, lower credit risk, lower insolvency
risk, but encounter similar operational risk in comparison with conventional banks.
Operational and insolvency risks in Islamic banks decline with an increase in SSB
size and SSB members' academic qualifications, but increase with an increase in the
number of reputed Shariah scholars on the SSB. The SSB attributes do not have
significant influence on liquidity and credit risks. The findings are robust to
alternative risk measures, and the use of a system GMM estimator.
C1 [Safiullah, Md; Shamsuddin, Abul] Univ Newcastle, Newcastle Business Sch, 409
Hunter St, Newcastle, NSW 2300, Australia.
RP Safiullah, M (corresponding author), Univ Newcastle, Newcastle Business Sch, 409
Hunter St, Newcastle, NSW 2300, Australia.
EM Md.Safiullah@uon.edu.au
RI Safiullah/AAN-7553-2020
OI Safiullah/0000-0001-8342-9889
NR 70
TC 16
Z9 16
U1 1
U2 22
PI AMSTERDAM
SN 0927-538X
EI 1879-0585
PD FEB
PY 2018
VL 47
BP 129
EP 149
DI 10.1016/j.pacfin.2017.12.008
PG 21
GA FX9GX
UT WOS:000426407700008
DA 2020-08-12
ER
PT J
AU Hassan, MK
Aliyu, S
AF Hassan, M. Kabir
Aliyu, Sirajo
TI A contemporary survey of islamic banking literature
SO JOURNAL OF FINANCIAL STABILITY
LA English
DT Article
DE Islamic banking; Regulations; Social well-being; Financial crisis
ID CONVENTIONAL BANKS; FINANCIAL PERFORMANCE; CORPORATE GOVERNANCE;
OWNERSHIP STRUCTURE; EMPIRICAL-EVIDENCE; MARKET POWER; CREDIT RISK;
PREDICTING EFFICIENCY; MONETARY TRANSMISSION; BEHAVIORAL NORMS
AB This article reviews empirical studies on Islamic banking and concentrates on
their main findings while highlighting future research directions. The earlier
literature on Islamic banking built a foundation using normative judgment,
descriptive analysis, theoretical development, and appraisal of country
experiences. The paper discusses scholars' concerns that have led to a paradigm
shift in the system and highlight practitioners' disquiet about recent practices.
Subsequent research focuses on empirical investigations without extensive
analytical and theoretical exploration in the area. Recent studies focus on the
financial crisis, solvency, maqasid, disclosure and financial inclusion, and
regulations. Even with the spillover effect on the Islamic banks after the crisis,
a few pieces of evidence show that the system performs below its conventional
counterpart. The paper discusses issues that are relevant to Islamic banking and
identifies other avenues for future research. (C) 2017 Elsevier B.V. All rights
reserved.
C1 [Hassan, M. Kabir] Univ New Orleans, Dept Econ & Finance, New Orleans, LA 70148
USA.
[Aliyu, Sirajo] Fed Polytech Bauchi, Dept Banking & Finance, Bauchi, Nigeria.
RP Hassan, MK (corresponding author), Univ New Orleans, Dept Econ & Finance, New
Orleans, LA 70148 USA.
EM mhassan@uno.edu; sirajoaliyu@yahoo.com
RI Aliyu, Sirajo/N-8154-2019
OI Aliyu, Sirajo/0000-0002-2090-3886
NR 264
TC 30
Z9 30
U1 4
U2 14
PI NEW YORK
SN 1572-3089
EI 1878-0962
J9 J FINANC STABIL
JI J. Financ. Stab.
PD FEB
PY 2018
VL 34
BP 12
EP 43
DI 10.1016/j.jfs.2017.11.006
PG 32
GA FX0EN
UT WOS:000425714100002
DA 2020-08-12
ER
PT J
AU Haron, R
AF Haron, Razali
TI DO MUSLIM DIRECTORS INFLUENCE FIRM PERFORMANCE? EMPIRICAL EVIDENCE FROM
MALAYSIA
SO AL-SHAJARAH
LA English
DT Article
DE Muslim Directors; Board of Directors; Governance; Islamic Finance
ID CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE; BOARD CHARACTERISTICS; AUDIT
COMMITTEE; CEO DUALITY; INDONESIA; COMPANIES; RELIGION; IMPACT
AB This study examines the impact of several corporate governance mechanisms on the
performance of firms in Malaysia. Giving particular attention on board diversity,
this study looks into the impact of Muslim directors in the board of directors
(BoD) on firm performance. It is found that the presence of Muslim directors in the
BoD does have a significant impact on the performance of the firms and can bring
the firm to its utmost performance. Board independence seems to coexist with CEO
duality in pursuing maximum firm value and directors' remuneration does not seem to
be the driver and motivator to achieve good firm performance. Board size is also
taken into consideration when devising corporate governance structure where the
larger the size of the board the better performance it is for the firms. Policy
makers and other responsible players should take into account the mechanisms
discussed in this study when structuring corporate governance. This study fills the
gap and contributes significantly to the literature by proving extensive findings
with regards to the impact of corporate governance on firms' performance especially
the presence of Muslim directors in BoD in Malaysia.
C1 [Haron, Razali] IIUMs Inst Islamic Banking & Finance IIiBF, Kuala Lumpur,
Malaysia.
RP Haron, R (corresponding author), IIUMs Inst Islamic Banking & Finance IIiBF,
RI Haron, Razali/AAG-3205-2019
OI Haron, Razali/0000-0003-0415-4093
NR 59
TC 1
Z9 1
U1 0
U2 1
PU INT ISLAMIC UNIV MALAYSIA
PI KUALA LUMPUR
PA NO 24 PERSIARAN DUTA, TAMAN DUTA, KUALA LUMPUR, 50480, MALAYSIA
SN 1394-6870
J9 AL-SHAJARAH
JI Al-Shajarah
PY 2018
SI 3
BP 283
EP 305
PG 23
WC Religion
SC Religion
GA HI5KN
UT WOS:000456491000012
DA 2020-08-12
ER
PT J
AU Saba, I
AF Saba, Irum
TI COMPARATIVE SHARI'AH GOVERNANCE FRAMEWORK IN SELECTED MUSLIM COUNTRIES
SO AL-SHAJARAH
LA English
DT Article
DE Shari'ah governance; Central Bank; Central Shari'ah Board; Islamic
financial institutions; standardization
ID CORPORATE GOVERNANCE; INSTITUTIONS
AB Shari'ah compliance is the fundamental distinguishing feature between
conventional and Islamic financial system. If Islamic financial institutions do not
comply by the rules prescribed in Shari'ah, then there is no difference between
conventional and Islamic financial institutions. Due to the paramount importance of
Shari'ah compliance, regulatory authorities and Islamic financial institutions
should focus on the Shari'ah governance framework. Different countries follow
different Shari'ah governance framework, but everyone agrees with the importance of
Shari'ah compliance and Shari'ah governance framework. This paper focuses on the
cross-country comparison of different frameworks of Shari'ah governance namely
Pakistan, Malaysia, Turkey, Indonesia and Kingdom of Saudi Arabia. These five
Muslim countries are selected on the basis of growing focus of the governments on
Islamic finance and penetration of Islamic finance in the current financial system.
This paper is based on qualitative research and uses secondary sources of data. The
objective is to show that the Shari'ah governance frameworks implemented by central
banks in different countries varies from country to country and all the regulatory
authorities have designed Shari'ah governance framework for the Islamic financial
institutions. Some countries have a very rigorous and strong Shari'ah governance
framework like Malaysia and Pakistan. Whereas the new entrants in Islamic finance
industry like Turkey is focusing on establishing a strong and resilient Shari'ah
governance framework. The research shows that there is need for continuous
improvement of the Shari'ah governance framework across the countries. There is
demand for a standardized Shari'ah governance framework across the world but there
are several challenges in order to establish a unified Shari'ah governance
framework for Islamic financial institutions across the world.
C1 [Saba, Irum] IBA, MSc Islamic Banking & Finance course, Karachi, Pakistan.
[Saba, Irum] CEIF IBA, Acad & Res, Karachi, Pakistan.
RP Saba, I (corresponding author), IBA, MSc Islamic Banking & Finance course,
Karachi, Pakistan.; Saba, I (corresponding author), CEIF IBA, Acad & Res, Karachi,
Pakistan.
NR 35
TC 0
Z9 0
U1 0
U2 0
PI KUALA LUMPUR
SN 1394-6870
J9 AL-SHAJARAH
JI Al-Shajarah
PY 2018
SI 3
BP 337
EP 373
PG 37
WC Religion
SC Religion
GA HI5KN
UT WOS:000456491000014
DA 2020-08-12
ER
PT J
AU Zainuldin, MH
Lui, TK
Yii, KJ
AF Zainuldin, Mohd Haniff
Lui, Tze Kiat
Yii, Kwang Jing
TI Principal-agent relationship issues in Islamic banks: a view of Islamic
ethical system
MANAGEMENT
LA English
DT Article
DE Agency theory; Islamic banks; Ethical banking; Islamic ethical system;
Shariah principles
ID CORPORATE GOVERNANCE; FIRM
AB Purpose-This paper aims to discuss and explore the unique agency issues in
Islamic banks which give rise to different agency conflicts exist in Islamic banks
as compared to conventional banks. In addition, this paper critically examines
agency theory in Islamic banking perspective by incorporating Islamic ethical
considerations in the principal-agent setting.
Design/methodology/approach-This is a conceptual paper, and the discussions
revolve around the review of literature of which important sources have been cited
in a way that demonstrates a reasonable understanding of the topic. It attempts to
create a discourse around the inclusion of Islamic ethical system in understanding
the governance structure of Islamic banks.
Findings-This paper concludes that Islamic ethical system embedded in the
Islamic banks business activities shapes Islamic banks into organisations that
place higher ethical considerations than conventional banks. Therefore, Islamic
banks are likely to have less severe agency problems relative to their conventional
counterparts.
Research limitations/implications-Because of the chosen research approach, the
research results may lack generalisability. Therefore, researchers are encouraged
to test the proposed propositions further.
Practical implications-As the discourse generated by the paper, it can
ultimately enhance the understanding of Islamic governance structure in the
perspective of agency issues.
Social implications-As the discourse generated by the paper, it can ultimately
enhance the understanding of Islamic governance structure in the perspective of
agency issues.
Originality/value-The paper attempts to bring to attention the important aspect
of principal-agent relationship within the Islamic banking structures and explain
the role of incorporating Islamic ethical system in enhancing the understanding of
the principal-agent relationship.
C1 [Zainuldin, Mohd Haniff; Lui, Tze Kiat; Yii, Kwang Jing] Univ Tunku Abdul
Rahman, Fac Business & Finance, Kampar, Malaysia.
RP Lui, TK (corresponding author), Univ Tunku Abdul Rahman, Fac Business & Finance,
Kampar, Malaysia.
EM luitk@utar.edu.my
RI Zainuldin, Mohd Haniff/AAH-6578-2019
OI Zainuldin, Mohd Haniff/0000-0003-1676-7516; Lui, Tze
Kiat/0000-0001-7238-4822
NR 55
TC 3
Z9 3
U1 1
U2 4
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2018
VL 11
IS 2
SI SI
BP 297
EP 311
DI 10.1108/IMEFM-08-2017-0212
PG 15
GA HF1AJ
UT WOS:000453897000009
DA 2020-08-12
ER
PT J
AU Elhaj, MA
Muhamed, NA
Ramli, NM
AF Elhaj, Mohamed Abulgasem
Muhamed, Nurul Aini
Ramli, Nathasa Mazna
TI The effects of board attributes on Sukuk rating
MANAGEMENT
LA English
DT Article
DE Sukuk market; Islamic finance; Board attributes; Sukuk rating
ID CORPORATE GOVERNANCE; CAPITAL STRUCTURE; AUDIT COMMITTEE; CREDIT
RATINGS; FIRM; COMPENSATION; INDEPENDENCE; PERFORMANCE; COST
AB Purpose-The purpose of this paper is to investigate the effect of board
attributes on Sukuk rating in firms listed in Bursa Malaysia (Malaysian Stock
Exchange) during the period of 2008 to 2013.
Design/methodology/approach-This study uses ordinal logit regression model to
examine the influence of board attributes (CEO-chairman duality, board size and
board independence) on the dependent variable (RATING).
Findings-The findings of this paper generally support the agency theory and
stakeholder theory. Results show that after controlling for firm characteristics,
the Sukuk rating is positively associated with CEO-chairman duality, board size and
board independence; and negatively correlated with leverage while positively
related to profitability and size. The findings of this study also provide evidence
that having two positions in an organization as CEO and chairman could have added
higher responsibility towards making corporate decisions and provide better Sukuk
rating performance. In addition, findings show that the larger the board size, the
better Sukuk rating. Also, higher board independence enjoys higher rating.
Research limitations/implications-This study was limited to the investigation of
the relationship between board attributes (CEO duality, board size and board
independence) on Sukuk ratings using aggregate data from 2008 to 2013 among
Malaysian Sukuk issuers.
Practical implications-The findings of this paper describe the impact of board
attributes on Sukuk rating in Malaysian Sukuk market which in turn gives the useful
insights to many of the actors in the markets such as issuers, investors and
policymakers which can be relied upon in making strategic decisions to issue and
invest in Islamic bonds in Malaysian market. In addition, the findings could prove
to be useful also for regulators because they are responsible for the acceptable
level of corporate governance standards.
Originality/value-This study contributes to the body of knowledge by focusing
heavily on enhancing Sukuk ratings by reducing conflict between managers and Sukuk
holders in Malaysia. Additionally, this study benefits from the agency theory and
stakeholder theory to provide evidence on the effect of board attributes on Sukuk
rating.
C1 [Elhaj, Mohamed Abulgasem; Ramli, Nathasa Mazna] Univ Sains Islam Malaysia, Fac
Econ & Muamalat, Nilai, Malaysia.
[Muhamed, Nurul Aini] Islamic Sci Univ Malaysia, Fac Econ & Muamalat, Nilai,
Malaysia.
RP Elhaj, MA (corresponding author), Univ Sains Islam Malaysia, Fac Econ &
Muamalat, Nilai, Malaysia.
EM elhajelhaj11@gmail.com
OI Muhamed, Nurul Aini/0000-0003-3858-7161
NR 55
TC 0
Z9 0
U1 2
U2 4
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2018
VL 11
IS 2
SI SI
BP 312
EP 330
DI 10.1108/IMEFM-03-2017-0057
PG 19
GA HF1AJ
UT WOS:000453897000010
DA 2020-08-12
ER
PT J
AU Ajili, H
Bouri, A
AF Ajili, Hana
Bouri, Abdelfettah
TI Corporate governance quality of Islamic banks: measurement and effect on
financial performance
MANAGEMENT
LA English
DT Article
DE Financial performance; Islamic banks; Corporate governance quality
ID FIRM PERFORMANCE; AUDIT COMMITTEE; SOCIAL-RESPONSIBILITY; BOARD; IMPACT;
ISSUES; MECHANISMS; OWNERSHIP; INSTITUTIONS; DISCLOSURE
AB Purpose - This paper aims to assess the measurement of the Corporate Governance
(CC) quality of Islamic Banks (IBs) and its effect on financial performance.
Design/methodology/approach - In the applied part of this study, a sample of 44
IBs operating in Bahrain, Kuwait, Qatar, Oman, the United Arab Emirates and the
Kingdom of Saudi Arabia were investigated according to information provided by the
national central hank websites of the Gulf Cooperation Council (GCC) countries. To
measure the governance quality, CC-index was constructed based on three sub indices
which are the Board of Directors (BOD), the Audit Committees (AC) and the Shariah
Supervisory Board (SSB) indices.
Findings - Findings revealed that CO quality of IBs in GCC. countries adhere to
74 per cent of the attributes addressed in the CG-index. The results also showed
that IBs in GCC countries valued the effectiveness of SSB much more than the
conventional CG mechanisms. Using multiple regression models, findings suggested no
statistically significant relation between CG quality and financial performance
which would imply that good CC; had an insignificant association with high
performance in GCC IBs.
Originality/value - The current paper may serve to assist IBs stakeholders to
better understand the CG practices of IBs. In addition, the observed insignificant
relation between the quality of CG practices and performance should sensitize the
IBs regulators in the GCC countries to the necessity of improving the existing CC
requirements.
C1 [Ajili, Hana; Bouri, Abdelfettah] Univ Sfax, Fac Econ & Management Sfax, Sfax,
Tunisia.
RP Ajili, H (corresponding author), Univ Sfax, Fac Econ & Management Sfax, Sfax,
Tunisia.
EM ajilihana@hotmail.fr
NR 61
TC 7
Z9 7
U1 1
U2 10
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2018
VL 11
IS 3
BP 470
EP 487
DI 10.1108/IMEFM-05-2017-0131
PG 18
GA HF1AO
UT WOS:000453897500008
DA 2020-08-12
ER
PT J
AU Abd Karim, N
Nawawi, A
Salin, ASAP
AF Abd Karim, Norazira
Nawawi, Anuar
TI Inventory management effectiveness of a manufacturing company -
Malaysian evidence
SO INTERNATIONAL JOURNAL OF LAW AND MANAGEMENT
LA English
DT Article
DE Case study; Malaysia; Internal control; Inventory management; COSO
Framework; Stock control
ID ISLAMIC WORK ETHICS; CORPORATE GOVERNANCE; OWNERSHIP STRUCTURE;
PERFORMANCE; DETERMINANTS; EMPLOYEES; INDUSTRY; IMPACT
AB Purpose The purposes of this study are to examine the standard operating
procedure (SOP) on inventory management practices, identify any weaknesses in
inventory management and examine its impact on the performance of the company.
Inventory management is important because it ensures smooth production and prevents
loss of sales because of stockout and/or customer dissatisfaction.
Design/methodology/approach This study selects one manufacturing company as a
case study and uses the mixed data collection method of document analysis and
observation. The research analysis was conducted by using COSO Internal Control -
Integrated Frame work 2013 as guidance.
Findings It is revealed that a company practices risky inventory management in
keeping stock, as it relies heavily on third-party warehousing services beyond the
control of the company. This study also reveals that the SOPs are too general and
lack specificity. However, poor inventory management has a modest influence on the
financial performance of the company.
Research limitations/implications In completing this study, some limitations are
experienced such as changes on the management structure of the company as well as
the department itself. Frequent changes on several procedures also may influence
this study to obtain accurate information. In addition, some highly confidential
documents such as detailed information and minutes from management meeting were not
permitted to be examined.
Practical implications This study provides recommendations to improve weak
internal controls particularly on SOPs, so that fraud and mismanagement
opportunities can be reduced.
Originality/value This study makes an original contribution, as it enhances the
theoretical and practical understanding on inventory control and management
systems, particularly for a manufacturing company in the emerging market
environment. In addition, it examines various internal financial reports and
directly observes the process in supply change management, which are generally
difficult to be accessed by academic researchers.
C1 [Abd Karim, Norazira] Univ Teknol MARA, Shah Alam, Malaysia.
[Nawawi, Anuar; Salin, Ahmad Saiful Azlin Puteh] Univ Teknol MARA, Fac
Accountancy, Perak Branch Tapah Campus, Shah Alam, Malaysia.
Branch Tapah Campus, Shah Alam, Malaysia.
EM norazira.abdkarim@gmail.com; anuar217@salam.uitm.edu.my;
ahmad577@perak.uitm.edu.my
NR 72
TC 2
Z9 2
U1 0
U2 1
PI BINGLEY
SN 1754-243X
EI 1754-2448
J9 INT J LAW MANAG
JI Int. J. Law Manag.
PY 2018
VL 60
IS 5
BP 1163
EP 1178
DI 10.1108/IJLMA-04-2017-0094
PG 16
WC Law
SC Government & Law
GA HC7JU
UT WOS:000451978200008
DA 2020-08-12
ER
PT J
AU Sarhan, AA
Ntim, CG
AF Sarhan, Ahmed A.
Ntim, Collins G.
TI Firm- and country-level antecedents of corporate governance compliance
and disclosure in MENA countries
SO MANAGERIAL AUDITING JOURNAL
LA English
DT Article
DE Corporate governance; Religiosity; Disclosure; Neo-institutional theory;
MENA countries; Macroeconomic factors
ID INTERNATIONAL ACCOUNTING STANDARDS; SOCIAL-RESPONSIBILITY DISCLOSURE;
ISLAMIC FINANCIAL INSTITUTIONS; VOLUNTARY DISCLOSURE; EMPIRICAL
INSIGHTS; FUTURE-DIRECTIONS; IFRS ADOPTION; SOUTH-AFRICA; DETERMINANTS;
BANKS
AB Purpose This paper aims to investigate the level of compliance with, and
disclosure of, corporate governance best practice recommendations and the firm- and
country-level factors that can explain discernible differences in the level of
compliance with, and disclosure of, corporate governance best practice
recommendations in a number of Middle Eastern and North African (MENA) countries.
Design/methodology/approach The authors use the widely used content analysis
technique to examine the level of compliance with, and disclosure of, corporate
governance best practice recommendations in a sample of listed corporations in MENA
countries. In addition, the authors use the ordinary least square multiple
regression analysis technique to examine the firm- and country-level antecedents of
the level of compliance with, and disclosure of, corporate governance best practice
recommendations. The findings are generally robust to different types of firm- and
country-level factors, alternative measures and potential endogeneity problems.
Findings The findings of this study are two-fold. First, the level of voluntary
recommendations among MENA listed corporations is low and differs substantially
across firms. Second, the evidence suggests that firm- and country-level factors,
including religiosity, national governance quality and macroeconomic factors, have
a positive and significant impact on voluntary compliance with, and disclosure of,
corporate governance best practice recommendations.
Originality/value To the best of the authors' knowledge, this paper is the first
to examine both the potential firm- and country-level factors affecting voluntary
recommendations among MENA listed corporations from a neo-institutional theoretical
perspective. The results of our study provide regulators and policymakers with the
impetus to encourage greater efforts towards pursuing reforms that seek to improve
national governance quality, economic environment and positive religious practices.
C1 [Sarhan, Ahmed A.] Univ Huddersfield, Dept Accountancy Finance & Econ,
[Sarhan, Ahmed A.] Zagazig Univ, Dept Accounting, Fac Commerce, Zagazig, Egypt.
[Ntim, Collins G.] Univ Southampton, CRAAG, Dept Accounting, Southampton
Business Sch, Southampton, Hants, England.
RP Sarhan, AA (corresponding author), Univ Huddersfield, Dept Accountancy Finance &
Econ, Huddersfield, W Yorkshire, England.; Sarhan, AA (corresponding author),
Zagazig Univ, Dept Accounting, Fac Commerce, Zagazig, Egypt.
EM a.sarhan@hud.ac.uk
RI Ntim, Collins/M-8212-2016
OI Ntim, Collins/0000-0002-1042-4056
NR 90
TC 2
Z9 2
U1 2
U2 12
PI BINGLEY
SN 0268-6902
EI 1758-7735
J9 MANAG AUDIT J
JI Manag. Audit. J.
PY 2018
VL 33
IS 6-7
BP 558
EP 585
DI 10.1108/MAJ-10-2017-1688
PG 28
GA GW5VT
UT WOS:000447009700002
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Alfakhri, Y
Nurunnabi, M
Alfakhri, D
AF Alfakhri, Yazeed
Nurunnabi, Mohammad
Alfakhri, Demah
TI A citation analysis of corporate social responsibility (1970-2014):
insights from Islamic perspective
LA English
DT Review
DE Corporate social responsibility; Academic journal guide 2015
ID FINANCIAL PERFORMANCE; CONSUMER REACTIONS; BUSINESS ETHICS; CUSTOMER
SATISFACTION; PUBLIC-RELATIONS; CSR; PERCEPTIONS; GOVERNANCE;
DISCLOSURE; REPUTATION
AB Purpose - The purpose of this paper is to analyse the citations of scientific
research on the concept of corporate social responsibility (CSR) from 1970 to 2014.
In particular, several interconnected research questions were investigated: How did
the conceptualisation of CSR change from 1970 to 2014? What is the general
direction of the change? How does Islamic CSR emerge?
Design/methodology/approach - An in-depth analysis was performed with the use of
the data analysis tool available in the Web of Science. The study categorises CSR
into four areas: business ethics and corporate governance; management; marketing;
and others. The first three categories were based on the Chartered Association of
Business Schools' Academic Journal Guide 2010 and 2015 (UK).
Findings - The findings reveal that 67.19 per cent articles have been published
based on the ranked journals of Academic Journal Guide 2010 and 2015. The findings
of the study will help to inform future areas of CSR. The top journals which
published most articles from Academic Journal Guide 2015 are Journal of Business
Ethics and Corporate Social Responsibility and Environmental Management.
Practical implications - The findings suggest that the remit of sustainability
from Islamic perspective is wider. Islamic marketing, as an area, remains largely
in need of empirical research. The business communities should successfully
integrate Muslim communities into their marketing strategies.
Originality/value - To the best of the knowledge, this is the first study to
explore citation analysis of general CSR literature and Islamic CSR. The study
finds that there has been an increase in interest in this subject of CSR and Islam
in the recent years. Future research is needed on theory and methodological
analysis of general CSR field and Islamic CSR field.
C1 [Alfakhri, Yazeed; Nurunnabi, Mohammad] Prince Sultan Univ, Coll Business Adm,
Riyadh, Saudi Arabia.
[Nurunnabi, Mohammad] Univ Oxford, St Antonys Coll, Oxford, England.
RP Nurunnabi, M (corresponding author), Prince Sultan Univ, Coll Business Adm,
Riyadh, Saudi Arabia.; Nurunnabi, M (corresponding author), Univ Oxford, St Antonys
Coll, Oxford, England.
EM mnurunnabi@psu.edu.sa
NR 193
TC 3
Z9 3
U1 2
U2 11
PI BINGLEY
SN 1759-0833
EI 1759-0841
J9 J ISLAMIC MARK
JI J. Islamic Mark.
PY 2018
VL 9
IS 3
BP 621
EP 654
DI 10.1108/JIMA-09-2017-0092
PG 34
WC Business
GA GW9OL
UT WOS:000447319800009
OA Bronze
DA 2020-08-12
ER
PT J
AU Alhammadi, S
Archer, S
Padgett, C
Karim, RAA
AF Alhammadi, Salah
Archer, Simon
Padgett, Carol
Karim, Rifaat Ahmed Abdel
TI Perspective of corporate governance and ethical issues with profit
sharing investment accounts in Islamic banks
SO JOURNAL OF FINANCIAL REGULATION AND COMPLIANCE
LA English
DT Article
DE Islamic banking; Corporate governance; Equitable treatment;
Profit-sharing
ID CAPITAL ADEQUACY
AB Purpose - The purpose of this paper is to examine the practices of Islamic banks
in managing the so-called profit sharing investment accounts (PSIA) which they
offer as a Shari'ah-compliant alternative to interest-bearing deposit accounts
using an unrestricted Mudarabah contract. In particular, the paper aims to examine
the risk-return characteristics of such accounts and to compare these to the
returns and risks of shareholders in the same banks. It is relevant that PSIA
holders (unrestricted investment account holders - UIAH) are exposed to losses on
the assets in which their deposits are invested, while the bank as asset manager
(Mudarib) does not bear these losses and as Mudarib typically receives more than 50
per cent of the profits earned on the PSIA. The issue is whether the UIAH are being
treated equitably. The influence of a set of corporate governance variables on this
issue was also analyzed.
Design/methodology/approach - A sample of 28 Islamic banks was selected from
five countries for the period 2002-2013, with data being obtained from Bankscope
and Bloomberg and, where necessary, from the banks' annual reports. First, the
risk-return characteristics of the UIAHs' rates of return and shareholders' rates
of return on equity (ROE) were compared by calculating for each bank the
coefficients of variation (CV) of the two series of rates of return. Second, a
panel data approach was used to evaluate the effectiveness of corporate governance
by examining the extent to which the size of the difference between the rates of
return for shareholders and for UIAH was associated with a set of corporate
governance variables. Third, a comparison was made between the risk-return
characteristics of UIAH's rates of return and shareholders' dividend yield rate for
a sub-sample of 20 banks for which the information was available.
Findings - For a significant proportion of the banks (9 out of 28), the CVs of
the PSIA returns were higher than those of the shareholders' ROEs, which suggested
that in these cases the PSIA holders were receiving inequitable treatment.
Likewise, for 7 out of the 20 banks in the sub-sample, the CVs of the PSIA holders'
rates of return were higher than those of the shareholders' dividend yield rate. In
explaining the size of the differences between the rates of return on PSIA and the
shareholders' ROEs, the variable with the greatest explanatory power was the return
on assets, implying that when this was high the bank took a maximum Mudarib share
of profits. Some other corporate governance variables had the expected signs, as
did a country dummy representing the maturity of the market for Islamic banking,
but there was little evidence of the effectiveness of corporate governance in
protecting the interests of the UIAH.
Research limitations/implications - A limitation of the research was that the
inefficiency of the stock markets in the relevant countries and the fact that a few
of the banks were not listed made it impossible to use shareholders' stock market
returns. ROE is not a very good proxy, as it is unclear how much value should be
placed on retained earnings. Dividend yield rates provide a better comparison with
UIAH rates of return, but the data were available for only 20 of the banks.
Nevertheless, the results of the analysis strongly suggest that in a significant
proportion of cases, UIAH are not being treated equitably.
Practical implications - The implication is that the regulation of Islamic banks
needs to be improved to provide better protection to UIAH.
Social implications - Islamic banks operate mainly in emerging markets where the
effectiveness of regulation is limited. The ethical basis of Islamic finance
provides some mitigation of this problem but apparently fails to do so in a
significant proportion of cases. This should be borne in mind when assertions are
made about the ethical basis of Islamic finance.
Originality/value - There is a dearth of empirical studies of the practices of
Islamic banks and in particular of their treatment of their customers. This is
because of various factors: the relative novelty of Islamic finance, the paucity of
data and the relatively small size of the body of researchers in the field. This
paper aims to contribute to filling this gap.
C1 [Alhammadi, Salah] Al Maktoum Coll Higher Educ, Islamic Econ & Finance, Dundee,
Scotland.
[Alhammadi, Salah] Univ Durham, Sch Business, Dept Islamic Finance, Durham,
England.
[Archer, Simon; Padgett, Carol] Univ Reading, ICMA Ctr, Reading, Berks, England.
[Karim, Rifaat Ahmed Abdel] INCEIF, Kuala Lumpur, Malaysia.
RP Archer, S (corresponding author), Univ Reading, ICMA Ctr, Reading, Berks,
England.
EM s.alhammadi@almcollege.org.uk; s.archer@blueyonder.co.uk;
c.padgett@icmacentre.ac.uk; rifaatahmed@inceif.org
RI Alhammadi, Salah/F-2637-2015; Alhammadi, Salah/AAQ-7435-2020
OI Alhammadi, Salah/0000-0001-5422-4454; Alhammadi,
Salah/0000-0001-5422-4454
NR 23
TC 0
Z9 0
U1 1
U2 4
PI BINGLEY
SN 1358-1988
EI 1740-0279
J9 J FINANC REGUL COMPL
JI J. Financ. Regul. Compliance
PY 2018
VL 26
IS 3
BP 406
EP 424
DI 10.1108/JFRC-01-2017-0014
PG 19
GA GQ7GS
UT WOS:000441905200005
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Grassa, R
AF Grassa, Rihab
TI Deposits structure, ownership concentration and corporate governance
disclosure in GCC Islamic banks: Empirical evidence
LA English
DT Article
DE Ownership concentration; Islamic banks; Information asymmetry; GCC
countries; CG disclosures; PSIA
ID SHARING INVESTMENT ACCOUNTS; VOLUNTARY DISCLOSURE; FINANCIAL
INSTITUTIONS; DETERMINANTS; FIRM; TRANSPARENCY; PERFORMANCE; ISSUES;
CRISIS; MARKET
AB Purpose This paper aims to assess the effects of deposits structure and
ownership structure on the GCC Islamic banks' corporate governance disclosure (CGD)
practices.
Design/methodology/approach The study is based on a sample of 38 Islamic banks
operating in five Gulf Cooperation Council (GCC) countries, and the authors
observed them over the period from 2006 to 2011. The authors used the transparency
and disclosure score, developed by Standard & Poor's (S&P), to identify the
sample's CGD scores.
Findings This paper's findings suggest that the level of CGD is lower for
Islamic banks with higher ownership concentration, for levered Islamic banks and
for Islamic banks with greater concentration of nonprofit-sharing investment
accounts (PSIA) and is higher for Islamic banks with greater concentrations of
PSIA; the Islamic bank size; the bank age; listed bank and the country transparency
index. By disaggregating the total CGD into the three sub-categories, the authors
are able to specify, also, the components of corporate governance (CG) impacted by
various determinants.
Research limitations/implications This paper is subject to a number of
limitations. First, there is manual scoring of annual reports (subjectivity).
Second, the research focuses exclusively on the GCC context and excludes the other
Middle East, Southeast Asia and Far East countries, where ownership structure and
deposits structure might affect CGD differently. Third, the governance score, which
is used in this research, is developed by S&P and does not take into account the
characteristics of Islamic banks.
Practical implications The findings of this paper suggest many policy
implications. First, through the optimization of ownership structure, GCC
countries' regulators have to improve the Islamic banking system's CG mechanisms
through the optimization of ownership structure (dispersed ownership) to promote
transparency and disclosure. Second, regulators and policymakers should revise
guidelines with the main purpose of protecting PSIA' holders (considered to be
minor shareholders without voting power) through promoting disclosure and
transparency. Third, the findings can be useful for many international supervisory
bodies, like the Islamic Financial Services Board (IFSB) and Accounting and
Auditing Organization for Islamic Financial Institutions (AAOIFI), in evaluating
transparency and disclosure standards.
Originality/value This study is expected to be useful for all market
participants, namely, investors, financial analysts, managers, marker regulators
and many international Islamic supervisory bodies, such as the IFSB and AAOIFI, by
providing new requirements on CGD in the GCC region and in better understanding its
determinants for Islamic banks in this region.
C1 [Grassa, Rihab] Univ Manouba, Higher Inst Accounting & Adm, Manouba, Tunisia.
RP Grassa, R (corresponding author), Univ Manouba, Higher Inst Accounting & Adm,
Manouba, Tunisia.
EM rihab_grassa@hotmail.fr
RI grassa, rihab/AAA-7623-2019
NR 51
TC 0
Z9 0
U1 0
U2 7
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2018
VL 9
IS 4
BP 587
EP 606
DI 10.1108/JIABR-10-2014-0034
PG 20
GA GP8DA
UT WOS:000441138900007
DA 2020-08-12
ER
PT J
AU Abd Razak, A
AF Abd Razak, Abd Hakim
TI Centralisation of corporate governance framework for Islamic financial
institutions Is it a worthy cause?
SO ISRA INTERNATIONAL JOURNAL OF ISLAMIC FINANCE
LA English
DT Article
DE Corporate governance; Shura; Central Shariah board; Ikhtilaf al-fuqaha;
Centralisation
ID CRISIS
AB Purpose - The purpose of this paper is to supply basic insights into the
principle of shara (consultation) in Islamic banking, the idea of a centralised
approach to the corporate governance of Islamic financial institutions (IFIs), the
roles of a centralised Shari' all hoard as the highest authority on Shari' ah
issues and its distinguishing features from a de-centralised system and the
advantages and disadvantages of the two governance systems.
Design/methodology/approach - In analyzing these, the paper adopts the critical
legal studies approach and refers to the provisions of the Qur'an and Sunnah,
ifrnZz' (consensus) of Shariah scholars and recent Islamic banking reports.
Findings - Despite the fact that the double-digit growth of the current LIS$2tn
Islamic banking industry is a promising sign for its further expansion - expecting
to cross the US$6.5tn mark by 2020 - there remains concern over the lack of
standardization or rather the diversified approaches to the corporate governance of
IFIs across key Islamic banking regions.
Practical implications - There has been much debate surrounding the issue of
whether the Islamic banking industry requires a centralised Shariah board at the
state level to complement the Shariah boards at the IFIs . individual level in
providing better supervision of the Shariah compliance of IFIs. The fact that the
industry is already equipped with two prominent standard setting agencies in the
form of the AAOIFI. the IFSB does little to suggest that best governance practice
which centre around the themes of consistency, harmony and uniformity - are on the
horizon, at least not whilst their issued standards and guidelines remain voluntary
for IFIs.
Originality/value - All in all, it is aspired that this paper may assist the
reader in evaluating the pros and cons of the whole concept of Shairah board
centralisation.
C1 [Abd Razak, Abd Hakim] Univ Dublin, Trinity Coll Dublin, Sch Law, Dublin,
Ireland.
RP Abd Razak, A (corresponding author), Univ Dublin, Trinity Coll Dublin, Sch Law,
Dublin, Ireland.
EM abdrazaa@tcd.ie
RI Razak, Abd Hakim Abd/I-6862-2019
OI Razak, Abd Hakim Abd/0000-0003-3100-5296
NR 98
TC 0
Z9 0
U1 0
U2 3
PI BINGLEY
SN 0128-1976
EI 2289-4365
J9 ISRA INT J ISLAMIC F
JI ISRA Int. J. Islamic Financ.
PY 2018
VL 10
IS 1
BP 36
EP 51
DI 10.1108/IJIF-08-2017-0020
PG 16
GA GN1UH
UT WOS:000438779400004
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Yusoff, H
Azhari, NKM
Darus, F
AF Yusoff, Haslinda
Azhari, Nor Khadijah Mohd
Darus, Faizah
TI Effects of Financial Performance and Governance on Corporate Social
Responsibility Disclosure: Evidence from Islamic Financial Institutions
in Malaysia
LA English
DT Article
DE Corporate Social Responsibility; Disclosure Practice; Financial
Institution; Shariah; Corporate Governance
ID OWNERSHIP; INFORMATION; MANAGEMENT; SHARIAH
AB Islamic financial institutions (IFIs) are established based on Islamic
foundations and their corporate practices are expected to be aligned with Islamic
laws and framework. This study seeks to understand the determinants for the CSR
disclosure of IFIs in Malaysia. Using the 2010 annual reports of 37 IFIs, this
study investigates the effects of financial performance and corporate governance
mechanism (proxied by Shariah supervisory committee or SCC and ownership structure)
on CSR disclosure. Results reveal that between financial performance and SCC and
ownership structure, only the latter significantly influences CSR disclosure.
Overall, the findings offer insights into current reporting practices and propose
ideas pertaining to the establishment of an Islamic-based CSR reporting framework.
The significant factors influencing CSR disclosure may be used to develop effective
practice among IFIs in Malaysia and other countries.
C1 [Yusoff, Haslinda] Univ Teknol MARA, Fac Accountancy, Shah Alam 40450, Selangor,
Malaysia.
[Azhari, Nor Khadijah Mohd] Eskisehir Osmangazi Univ, Social Sci Inst,
Eskisehir, Turkey.
[Darus, Faizah] Univ Teknol MARA, Accounting Res Inst, Shah Alam 40450,
Selangor, Malaysia.
RP Yusoff, H (corresponding author), Univ Teknol MARA, Fac Accountancy, Shah Alam
40450, Selangor, Malaysia.
EM hasli229@salam.uitm.edu.my; dijah4041@gmail.com;
faiza634@salam.uitm.edu.my
NR 61
TC 0
Z9 0
U1 1
U2 6
SN 2232-0474
EI 2232-0482
PD JAN
PY 2018
SI SI
BP 57
EP 72
PG 16
WC Religion
SC Religion
GA GM8HG
UT WOS:000438463400004
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Ghazali, AW
Suffian, MTM
Sanusi, ZM
Alsudairi, FS
AF Ghazali, Aziatul Waznah
Suffian, Mohd Taufik Mohd
Sanusi, Zuraidah Mohd
Alsudairi, Fandah Sultan
TI Managerial Opportunism: Monitoring Financial Risk of Malaysian
Shariah-compliant Companies
LA English
DT Article
DE Managerial Opportunism; Real Earnings Management; Shariah-compliant
Companies; Free Cash Flow; Financial Distress
ID FREE CASH FLOW; REAL ACTIVITIES MANIPULATION; AMANAH IKHTIAR MALAYSIA;
EARNINGS MANAGEMENT; OWNERSHIP STRUCTURE; AGENCY COSTS; ACCRUALS;
PERFORMANCE; BEHAVIOR; CHOICE
AB Managerial opportunism, such as earnings management, is a rampant, but often
discreet, among certain managers. Agency theory and the notion of conflict of
interest are used as bases to assume that managers would resolve to engage with
inappropriate activities for their personal benefits. Distortion of earnings would
erode investor confidence and is detrimental to the capital market. The Islamic
capital market with Shariah-compliant firms is expected not to engage in activities
that go against the religion code of conduct. The main purpose of this study is to
investigate managerial opportunism among Shariah-compliant companies, specifically
the relationship between real earnings management and the risk of financial
distress, leverage, and free cash flow. This study employs 4,115 data from 694
sample companies for five years (2009-2013). Findings conclude that the risk of
financial distress, leverage, and free cash flow have a significant relationship
with earnings management among Shariah-compliant companies. This study provides
evidence that further improvements on corporate governance are necessary to ensure
that Shariah-compliant companies adhere with the Shariah requirement.
C1 [Ghazali, Aziatul Waznah] Kingston Univ London, Kingston Business Sch, Kingston
Hill Campus,Kingston Hill, Kingston Upon Thames KT2 7LB, Surrey, England.
[Suffian, Mohd Taufik Mohd] Univ Teknol MARA Perak, Fac Accountancy, Shah Alam
40450, Selangor, Malaysia.
[Suffian, Mohd Taufik Mohd] Univ Teknol MARA Perak, ARI, Shah Alam 40450,
Selangor, Malaysia.
[Sanusi, Zuraidah Mohd] Univ Teknol MARA, ARI, Shah Alam 40450, Selangor,
Malaysia.
[Alsudairi, Fandah Sultan] King Abdulaziz Univ, Fac Econ & Adm, 2907 Muhamadia,
Jeddah 236239073, Saudi Arabia.
RP Ghazali, AW (corresponding author), Kingston Univ London, Kingston Business Sch,
Kingston Hill Campus,Kingston Hill, Kingston Upon Thames KT2 7LB, Surrey, England.
EM aziatul.ghazali@gmail.com; taufiksuffian@gmail.com;
zuraidahms@gmail.com; falsudairi@kau.edu.sa
FU Accounting Research Institute (ARI), Ministry of Education, Malaysia;
Universiti Teknologi MARA
FX The authors would like to express their gratitude to the Accounting
Research Institute (ARI), Ministry of Education, Malaysia and Universiti
Teknologi MARA for funding and facilitating this research project.
NR 75
TC 0
Z9 0
U1 0
U2 1
SN 2232-0474
EI 2232-0482
PD JAN
PY 2018
SI SI
BP 99
EP 115
PG 17
WC Religion
SC Religion
GA GM8HG
UT WOS:000438463400007
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Grassa, R
Chakroun, R
Hussainey, K
AF Grassa, Rihab
Chakroun, Raida
Hussainey, Khaled
TI Corporate governance and Islamic banks' products and services disclosure
SO ACCOUNTING RESEARCH JOURNAL
LA English
DT Article
DE Governance; Content analysis; Islamic banks
ID SOCIAL-RESPONSIBILITY DISCLOSURE; FINANCIAL INSTITUTIONS; DETERMINANTS;
SUPERVISION; PERFORMANCE; OWNERSHIP; COUNTRIES; BOARD
AB Purpose The purpose of this paper is to examine the determinants of Islamic
banks (IBs) product and services disclosure (PSD).
Design/methodology/approach A computer-based content analysis is run upon the
annual reports for a sample of 78 IBs operating in 11 countries from 2004 to 2012
to find the number of product and services statements. The levels and trends of PSD
are identified. A regression analysis to identify the factors affecting PSD in IBs
is also used.
Findings The findings suggest that there has been a significant improvement of
PSD over time. The results show a positive association between PSD and Shariah
board size, board size, chief executive officer (CEO) tenure, duality in position,
blockholders and investment account holders. However, they show a negative
association between PSD and institutional ownership. In addition, it appears that
board independence does not affect significantly banks' PSD. It is also found that
the bank performance, bank age, leverage, listing, adoption of international
financial reporting standards, adoption of Accounting and Auditing Organization for
Islamic Financial Institutions and country transparency index have a positive
effect on the PSD.
Originality/value This study offers an original contribution to corporate
disclosure literature by being the first to develop and investigate PSD for a large
sample of IBs during a long period of time. It links P&S with bank corporate
governance characteristics. The findings have many important policy implications.
More specifically, this paper encourages regulators in the studied countries to
improve corporate governance mechanisms in their Islamic banking systems through
the optimization of ownership structure, CEO's characteristics and the board's
characteristics, to promote PSD. Moreover, the findings support the theoretical
predictions of the generalized agency theory. This study's empirical evidence
enhances the understanding of the corporate social responsibility disclosure
environment in general and the PSD environment in particular for IBs. This study is
the first one that measures PSD in the annual reports for a large cross-countries
sample of IBs during a long period of time. It is also the first one that links PSD
with IBs corporate governance mechanisms.
C1 [Grassa, Rihab] Univ Manouba, ISCAE Dept, Manouba, Tunisia.
[Grassa, Rihab] Univ Modern Sci UMS, Coll Business, Dubai, Tunisia.
[Chakroun, Raida] Univ Carthage, Dept Accounting, Higher Business Studies Inst
Carthage IHEC, Tunis, Tunisia.
[Hussainey, Khaled] Univ Portsmouth, Dept Accounting & Financial Management,
Portsmouth, Hants, England.
RP Hussainey, K (corresponding author), Univ Portsmouth, Dept Accounting &
Financial Management, Portsmouth, Hants, England.
EM khaled.hussainey@port.ac.uk
NR 35
TC 4
Z9 5
U1 3
U2 10
PI BINGLEY
SN 1030-9616
EI 1839-5465
J9 ACCOUNT RES J
JI Account. Res. J.
PY 2018
VL 31
IS 1
SI SI
BP 75
EP 89
DI 10.1108/ARJ-09-2016-0109
PG 15
GA GG4KF
UT WOS:000432664800006
DA 2020-08-12
ER
PT J
AU Mansour, W
Bhatti, MI
AF Mansour, Walid
Bhatti, M. Ishaq
TI The new paradigm of Islamic corporate governance
SO MANAGERIAL FINANCE
LA English
DT Article
DE Corporate governance; Ethics; Products development; Shari'ah
ID BANKS
AB Purpose The purpose of this paper is to examine the new paradigm of Islamic
corporate governance (ICG) in an emerging area of Islamic finance.
Design/methodology/approach The paper adopts an analytical approach to
investigate the new executive and managerial roles that ICG is expected to play in
the process of corporate financial decision making.
Findings The authors argue that ICG is no longer expected to play the
traditional supervisory and regulatory role within Islamic financial institutions.
Indeed, the acuteness of competition, the observed failures of the Islamic finance
industry, the unprecedented challenges, and the required ethical considerations
levy as a new approach that improve the growth of the Islamic finance industry
sustain its survival in the global financial world, and enhance the welfare of 25
percent of the world population who survived beyond all level of poverties.
Originality/value The authors claim that ICG must be endowed with a multi-
faceted, new paradigm for the purpose of improving the stakeholders' interests and
reaching the best business practices of the Islamic finance industry to cater
investors' need and the social well-being of the homeless and disadvantaged
communities.
C1 [Mansour, Walid] Saudi Arabian Monetary Author, Riyadh, Saudi Arabia.
[Bhatti, M. Ishaq] La Trobe Univ, Bundoora, Vic, Australia.
RP Mansour, W (corresponding author), Saudi Arabian Monetary Author, Riyadh, Saudi
Arabia.
EM walid.mansour@fulbrightmail.org
RI Bhatti, M.Ishaq/B-5489-2015
OI Bhatti, M.Ishaq/0000-0002-5027-7871
NR 31
TC 3
Z9 3
U1 1
U2 9
PI BINGLEY
SN 0307-4358
EI 1758-7743
J9 MANAG FINANC
JI Manag. Financ.
PY 2018
VL 44
IS 5
SI SI
BP 513
EP 523
DI 10.1108/MF-01-2018-0043
PG 11
GA GG8GR
UT WOS:000432936300002
DA 2020-08-12
ER
PT J
AU Lassoued, M
AF Lassoued, Mongi
TI Corporate governance and financial stability in Islamic banking
LA English
DT Article
DE Corporate governance; Malaysia; Financial stability; Islamic banking
institutions; G18; G21; G32; G33
ID BOARD; PERFORMANCE; DISCLOSURE; OWNERSHIP; RATINGS; FIRMS; MODEL; RISK
AB Purpose The purpose of this paper is to examine the relationship between
corporate governance and financial stability of the Islamic banking institutions in
Malaysia. Indeed, we do not know much about the relationship between the corporate
governance variables and the financial stability of the Islamic banks (IBs) in
Malaysia.
Design/methodology/approach In this case, the level of bank stability is
individually measured using the Z-score indicator. The corporate governance
dimension in this study includes the Shari'ah board size (SBS) in addition to the
size of board members and the proportion of independent directors in the board.
Using a yearly bank-level data of 16 IBs in Malaysia from 2005 to 2015, this paper
utilizes the fixed effect, the GLS random-effect models and the OLS methods to
provide empirical evidences. Moreover, this work aims to focus on the country-level
data of Malaysia's banking sector and introduced the corporate governance variables
in this model.
Findings To the authors' knowledge, this is the first empirical analysis of
country-level data in the Malaysia's banking industry with this research approach.
The study found that the percentage of independent members in the board of
directors has a significant positive impact on the financial stability of the IBs.
However, the SBS and the size of board are found to have no influence toward
financial stability.
Originality/value With this paper, the authors hope to clarify the relationship
between corporate governance and financial stability of the Islamic banking, and
provide additional insights to the emerging literature of Islamic banking.
C1 [Lassoued, Mongi] Higher Inst Finance & Fiscal, Dept Econ, Sousse, Tunisia.
RP Lassoued, M (corresponding author), Higher Inst Finance & Fiscal, Dept Econ,
Sousse, Tunisia.
EM lassouedmongi4@gmail.com
NR 48
TC 1
Z9 1
U1 0
U2 6
PI BINGLEY
SN 0307-4358
EI 1758-7743
J9 MANAG FINANC
JI Manag. Financ.
PY 2018
VL 44
IS 5
SI SI
BP 524
EP 539
DI 10.1108/MF-12-2016-0370
PG 16
GA GG8GR
UT WOS:000432936300003
DA 2020-08-12
ER
PT J
AU Ben Zeineb, G
Mensi, S
AF Ben Zeineb, Ghada
Mensi, Sami
TI Corporate governance, risk and efficiency: evidence from GCC Islamic
banks
LA English
DT Article
DE Corporate governance; Banking; Risk
ID BOARD SIZE; FIRM PERFORMANCE; DETERMINANTS; INDEPENDENCE; DISCLOSURE
AB Purpose The purpose of this paper is to determine the simultaneous effect of
corporate governance (CG) of Gulf Cooperation Council (GCC) Islamic banks (IBs) on
efficiency and risk.
Design/methodology/approach The authors include Shariah supervisory board (SSB)
size, Chief Executive Officer (CEO)-duality and ownership structure as CG
variables. Efficiency and risk are measured using the data envelopment analysis
(DEA)/stochastic frontier analysis (SFA) and Z-score, respectively. This paper also
examines the risk-efficiency relationship. To test the hypotheses, the authors used
seemingly unrelated regressions on a sample of 56 GCC IBs during the period 2004-
2013.
Findings The results indicate that implementing rigorous CG structures correlate
with higher efficiency levels. Particularly, the authors show that the governance
structure of IBs allows them to take higher risks to achieve a high efficiency
level. In addition, results show that bank efficiency and risk are positively
related.
Practical implications This paper gives some insights to policy makers. It
points out detail attention toward the importance of CG in IB that influences the
efficiency level and risk-taking behavior. Thus, IB should improve governance
procedures that can lead to higher efficiency and survival in a competitive
environment and sustain financial crisis. Moreover, the economic conditions of a
country are the main determinant of an IB's efficiency and risk relationships.
Originality/value The simultaneous effect of the CG of the GCC IBs on efficiency
and risk is examined, taking into consideration different CG proxies, i.e., SSB
size, CEO-duality and ownership structure, and different efficiency estimation
techniques, i.e., SFA and DEA.
C1 [Ben Zeineb, Ghada; Mensi, Sami] Univ Manouba, Ecole Super Commerce Tunis,
Manouba, Tunisia.
RP Mensi, S (corresponding author), Univ Manouba, Ecole Super Commerce Tunis,
Manouba, Tunisia.
EM sami.mensi@yahoo.fr
NR 76
TC 0
Z9 0
U1 3
U2 8
PI BINGLEY
SN 0307-4358
EI 1758-7743
J9 MANAG FINANC
JI Manag. Financ.
PY 2018
VL 44
IS 5
SI SI
BP 551
EP 569
DI 10.1108/MF-05-2017-0186
PG 19
GA GG8GR
UT WOS:000432936300005
DA 2020-08-12
ER
PT J
AU Ajili, H
Bouri, A
AF Ajili, Hana
Bouri, Abdelfettah
TI Assessing the moderating effect of Shariah Board on the relationship
between financial performance and accounting disclosure
LA English
DT Article
DE Financial performance; Moderating effect; Islamic banks; Accounting
disclosure; Shariah Board
ID CORPORATE SOCIAL-RESPONSIBILITY; ISLAMIC BANKS; CONVENTIONAL BANKS;
VOLUNTARY DISCLOSURES; GOVERNANCE PRACTICES; OWNERSHIP STRUCTURE;
DETERMINANTS; COMPANIES; PERSPECTIVE; COUNTRIES
AB Purpose Shariah Board (SB) is considered as a typical corporate governance
mechanism for the Islamic banking system. This board takes the responsibilities of
assuring the compliance of transactions and operations with Islamic rules and
principles. The purpose of this paper is to measure the SB quality and examine its
moderating effect on the relationship between financial performance and accounting
disclosure quality.
Design/methodology/approach This study used a sample of 90 Islamic banks (IBs)
during the period 2010-2014. The accounting disclosure quality and the SB quality
were measured using self-developed indices. The moderating effect of the SB on the
performance/disclosure relationship was examined using the hierarchical regression
analysis.
Findings The main finding of this study is related to the negative moderating
effect of SB quality on the relationship between performance and disclosure.
Accordingly, it can be said that the higher the quality of the SB is, the lesser
the performance affects the disclosure. This result seems to indicate that at high
level of SB quality, even when the performance decreases, the IBs engage in
complying with accounting disclosure requirements in order to inform the
stakeholders on the real situation of the bank.
Research limitations/implications The finding of this study would be of great
support to stakeholders and policy makers to make more pressure on IBs to improve
the quality of their SB structure and show more compliance with the governance
recommendations. As an extension to this study, further research can examine other
Islamic governance mechanisms, such as the Internal Shariah Review.
Originality/value To the authors' knowledge, there has been a dearth of studies
dealing with the empirical examination of the moderating impact of the SB quality
on the association between the financial performance and the disclosure quality.
Therefore, this study could be considered a tentative contribution to the
literature by providing some empirical evidence on the links between these three
variables using the moderation regression analysis.
C1 [Ajili, Hana; Bouri, Abdelfettah] Univ Sfax, Fac Econ & Management Sfax, Sfax,
Tunisia.
RP Ajili, H (corresponding author), Univ Sfax, Fac Econ & Management Sfax, Sfax,
Tunisia.
EM ajilihana@hotmail.fr
NR 76
TC 2
Z9 2
U1 1
U2 10
PI BINGLEY
SN 0307-4358
EI 1758-7743
J9 MANAG FINANC
JI Manag. Financ.
PY 2018
VL 44
IS 5
SI SI
BP 570
EP 589
DI 10.1108/MF-05-2017-0192
PG 20
GA GG8GR
UT WOS:000432936300006
DA 2020-08-12
ER
PT J
AU Al-Malkawi, HAN
Pillai, R
AF Al-Malkawi, Husam-Aldin Nizar
Pillai, Rekha
TI Analyzing financial performance by integrating conventional governance
mechanisms into the GCC Islamic banking framework
LA English
DT Article
DE Banking; Panel data; Corporate governance; Financial performance; GCC
countries; Islamic banks financial performance; FGLS
ID CORPORATE SOCIAL-RESPONSIBILITY; FIRM PERFORMANCE; ADDITIONAL EVIDENCE;
EQUITY OWNERSHIP; SIZE; IMPACT; DIRECTORS; INVESTOR; BOARDS
AB Purpose The purpose of this paper is to integrate conventional corporate
governance (CG) mechanisms into the Islamic banking framework in order to examine
their impact on Islamic banks (IBs) financial performance (IBFP) within the Gulf
Cooperation Council (GCC) context.
Design/methodology/approach The study uses a sample of 22 full-fledged IBs
operating in the GCC countries over an 11-year period from 2005 to 2015. Using
panel data approach, the paper develops an empirical model consists of five CG
mechanisms and three control variables. The model parameters are estimated using
feasible generalized least squares framework.
Findings The results show that five internal CG mechanisms have statistically
significant relationship with IBFP, measured by Q-ratio. Insider shareholding is
found to be positively associated with IBFP, while institutional and government
shareholdings are found to be negatively related to Q-ratio, the results being
consistent with the agency theory, strategic alignment theory and property rights
theory, respectively. Moreover, the results reveal that large board size and CSR
engagement negatively influence IBFP, once again lending support to agency theory
and trade off theory, respectively. The control variables, namely, leverage, size
and age are also found to have a statistically significant relationship with IBFP.
Practical implications IBs are urged to ensure transparency in the provision of
innovative products fundamentally in contrast to conventional banking products as
well as cater to the untapped markets by weaving Islamic values into the existing
CG fabric, as a feasible solution to remain competitive.
Originality/value The paper examines the relationship between internal CG
mechanisms and financial performance of listed and non-listed full-fledged IBs
operating in the GCC countries.
C1 [Al-Malkawi, Husam-Aldin Nizar] British Univ Dubai, Fac Business & Law, Finance,
Dubai, U Arab Emirates.
[Pillai, Rekha] Emirates Aviat Univ, Business Sch, Dubai, U Arab Emirates.
RP Al-Malkawi, HAN (corresponding author), British Univ Dubai, Fac Business & Law,
Finance, Dubai, U Arab Emirates.
EM h.almalkawi@gmail.com
RI /AAD-1816-2020
OI /0000-0001-5372-8394; Pillai, Rekha/0000-0002-0086-5472
NR 83
TC 3
Z9 3
U1 0
U2 7
PI BINGLEY
SN 0307-4358
EI 1758-7743
J9 MANAG FINANC
JI Manag. Financ.
PY 2018
VL 44
IS 5
SI SI
BP 604
EP 623
DI 10.1108/MF-05-2017-0200
PG 20
GA GG8GR
UT WOS:000432936300008
DA 2020-08-12
ER
PT J
AU Nomran, NM
Haron, R
Hassan, R
AF Nomran, Naji Mansour
Haron, Razali
Hassan, Rusni
TI Shari'ah supervisory board characteristics effects on Islamic banks'
performance: Evidence from Malaysia
SO INTERNATIONAL JOURNAL OF BANK MARKETING
LA English
DT Article
DE Performance measurement; Malaysia; Banks; Banking industry; Islam
ID SOCIAL-RESPONSIBILITY DISCLOSURE; CORPORATE GOVERNANCE; CUSTOMER
SATISFACTION; FIRM PERFORMANCE; DIRECTORS; INSTITUTIONS; ORGANIZATION;
COUNTRIES; LOYALTY; ISSUES
AB Purpose Islamic banks (IBs) must stay Shari'ah compliant to enhance their
customer loyalty and obtain a competitive edge. Given the performance of Shari'ah
supervisory board (SSB) continues to be a matter of concern especially for IBs
across countries that have a different regulatory environment, the purpose of this
paper is to examine the effects of SSB characteristics on IBs' performance in
Malaysia being a country that applies the most extreme intervention of regulatory
agencies (pro-active model).
Design/methodology/approach A sample of 15 Malaysian IBs is used to test the
study hypotheses for the period from 2008 to 2015 using the Generalized Method of
Moments estimator.
Findings The results reveal strong support for a significant association between
SSB size, doctoral qualification, change in the SSB composition and performance. In
addition, the study supports the view that SSB with cross-membership and reputation
is very important in improving the performance of IBs.
Research limitations/implications First, the paper focused only on Malaysia
which adopts a pro-active model, and therefore, extending the investigation to
include countries that adopt the different models may provide a better view of the
best Shari'ah governance (SG) practices for IBs. Second, there is a need for more
empirical analysis regarding the optimal SSB size of IBs.
Practical implications This paper provides empirical evidence for regulators and
policy makers in Malaysia, to understand how to enhance the performance of IBs
using SG. Furthermore, marketers of Malaysian IBs should focus on SG practices as
an important element for attracting Muslim customers, especially as there is a lack
in this aspect.
Originality/value To date, it seems there is no empirical study that has
examined to what extent the impact of SSB characteristics on IBs performance can be
affected by the degree of agencies intervention, whether extreme or slight.
Malaysia has been chosen as the only country that adopts the most extreme model.
C1 [Nomran, Naji Mansour] Thamar Univ, Thamar, Yemen.
[Haron, Razali] IIUM Inst Islamic Banking & Finance, Kuala Lumpur, Malaysia.
[Hassan, Rusni] Int Islamic Univ Malaysia, IIUM Inst Islamic Banking & Finance,
RP Haron, R (corresponding author), IIUM Inst Islamic Banking & Finance, Kuala
Lumpur, Malaysia.
EM naji_nomran@yahoo.com; hrazali@iium.edu.my; hrusni@iium.edu.my
RI Haron, Razali/AAG-3205-2019; Hassan, Rusni/S-8001-2019
OI Haron, Razali/0000-0003-0415-4093;
NR 61
TC 10
Z9 10
U1 1
U2 10
PI BINGLEY
SN 0265-2323
EI 1758-5937
J9 INT J BANK MARK
JI Int. J. Bank Mark.
PY 2018
VL 36
IS 2
BP 290
EP 304
DI 10.1108/IJBM-12-2016-0197
PG 15
WC Business
GA GA6WO
UT WOS:000428475600004
DA 2020-08-12
ER
PT J
AU Khalid, AA
Haron, H
Masron, TA
AF Khalid, Azam Abdelhakeem
Haron, Hasnah
Masron, Tajul Ariffin
TI Competency and effectiveness of internal Shariah audit in Islamic
financial institutions
LA English
DT Article
DE Skills; Knowledge; Training; Effectiveness; Competency; Shariah auditor
AB Purpose The purpose of this paper is to propose the conceptual relationship
between competency and effectiveness of internal Shariah auditors in Islamic
financial institutions (IFIs).
Design/methodology/approach Normative and theorizing based on the main sources
of Islam, mainly Maqasid al-Shariah theory, has been utilized in this research.
Findings This study demonstrated how Maqasid al-Shariah or higher objectives of
Islamic law have gradually captured the attention of increasing numbers of modern
Muslim scholars for solving contemporary issues.
Originality/value This study uniquely captured Maqasid al-Shariah for the
competency of internal Shariah auditor.
C1 [Khalid, Azam Abdelhakeem] Univ Pendidikan Sultan Idris, Fac Econ & Management,
Perak, Malaysia.
[Haron, Hasnah] Univ Malaysia Pahang, Fac Ind Management, Kuantan, Malaysia.
[Masron, Tajul Ariffin] Univ Sains Malaysia, Sch Management, George Town,
Malaysia.
RP Khalid, AA (corresponding author), Univ Pendidikan Sultan Idris, Fac Econ &
Management, Perak, Malaysia.
EM azamabdelhakeem@yahoo.com; hasnahharon@ump.edu.my
RI AHMED, AZAM ABDELHAKEEM KHALID/X-2410-2019; MASRON, TAJUL
ARIFFIN/B-9724-2011
OI KHALID AHMED, AZAM ABDELHAKEEM/0000-0001-8457-6311; MASRON, TAJUL
ARIFFIN/0000-0002-8564-2402
NR 66
TC 1
Z9 1
U1 1
U2 11
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2018
VL 9
IS 2
BP 201
EP 221
DI 10.1108/JIABR-01-2016-0009
PG 21
GA GA7TG
UT WOS:000428539100007
DA 2020-08-12
ER
PT J
AU Hakimi, A
Rachdi, H
Mokni, RB
Hssini, H
AF Hakimi, Abdelaziz
Rachdi, Houssem
Mokni, Rim Ben Selma
Hssini, Houda
TI Do board characteristics affect bank performance? Evidence from the
Bahrain Islamic banks
LA English
DT Article
DE Islamic banks; Bank performance; Bahrain; Banking governance
ID CORPORATE GOVERNANCE; FIRM PERFORMANCE; AGENCY COSTS; CEO DUALITY;
PANEL-DATA; DIRECTORS; OWNERSHIP; PROFITABILITY; DETERMINANTS;
MECHANISMS
AB Purpose Although most previous studies interested in Islamic banks have focused
on quantitative aspects such as performance, risk and stability, this paper aims to
deal with the institutional dimension and focus precisely on the link between board
characteristics and bank performance.
Design/methodology/approach Based on a data related to 13 banks in Bahrain
observed over the period of 2005-2011, this study investigates the impact of board
directors on the level of performance. To this end, the authors have used two
empirical approaches. The first one is the panel data analysis with regard to
random effect (RE) regression. The second one is the generalized method of moments
(GMM) in system, which checked the soundness of the first result.
Findings The result of RE regression indicates that the board duality is
positively and significantly correlated with the bank performance for both ROA
(return on assets) and ROE (return on equity). However, the board size exerts a
positive and significant impact only when profitability is measured by ROE. The
authors find that regression with GMM in system confirms the RE result exclusively
for ROE. Findings also indicate that a financial crisis exerts a negative but not
significant effect on bank performance.
Practical implications These findings are relevant to both policymakers and
regulators. Islamic banks in Bahrain should grant more importance to the structure
and the quality of the board to improve their performance.
Originality/value This study aims to extend the existing literature by focusing
about the role of the Shariah board in bank performance.
C1 [Hakimi, Abdelaziz; Hssini, Houda] Univ Jendouba, Fac Law Econ & Management
Jendouba, Jendouba, Tunisia.
[Rachdi, Houssem] Univ Carthage, IHEC Carthage Business Sch, Carthage, Tunisia.
[Mokni, Rim Ben Selma] Univ Tunis, Fac Econ Sci & Management, Tunis, Tunisia.
RP Rachdi, H (corresponding author), Univ Carthage, IHEC Carthage Business Sch,
Carthage, Tunisia.
EM abdelazizhakimi@yahoo.fr; rachdih@uvic.ca; rimbenselmamokni@gmail.com;
hssinidoudou@yahoo.fr
RI Hakimi, Abdelaziz/AAQ-6750-2020
OI Hakimi, Abdelaziz/0000-0003-2715-0239
NR 84
TC 3
Z9 3
U1 0
U2 9
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2018
VL 9
IS 2
BP 251
EP 272
DI 10.1108/JIABR-06-2015-0029
PG 22
GA GA7TG
UT WOS:000428539100009
DA 2020-08-12
ER
PT J
AU Zheng, CJ
Moudud-Ul-Huq, S
Rahman, MM
Ashraf, BN
AF Zheng, Changjun
Moudud-Ul-Huq, Syed
Rahman, Mohammad Morshedur
Ashraf, Badar Nadeem
TI Does the ownership structure matter for banks' capital regulation and
risk-taking behavior? Empirical evidence from a developing country
LA English
DT Article
DE Capital regulation; Risk-taking; Ownership structure; Corporate
governance; Commercial banks; Panel regression
ID CORPORATE GOVERNANCE; CONVENTIONAL BANKS; DEPOSIT INSURANCE; EUROPEAN
BANKING; COMMERCIAL-BANKS; FOREIGN OWNERSHIP; PORTFOLIO RISK; ISLAMIC
BANKS; EFFICIENCY; IMPACT
AB This paper applies the two-stage least squares (2SLS) estimator to examine the
bi-directional relationship between banks' capital regulation and risk-taking
behavior concerning the impact of ownership structure. We have used a balanced
panel dataset of banks from a developing country over the most recent period
between 2006 and 2014. The empirical findings of this study suggest that higher
capital regulation enhances banks' stability when it combats with credit risk but
higher credit risk often persuades abating capital ratio. Particularly, the key
results are as follows: (i) the higher association of minority active shareholding
in stability issues is positive; (ii) the higher contribution of active share
holding promotes banks' capital ratio; (iii) the lower ownership concentration
prevents credit risk; (iv) private commercial banks are more risk averse and stable
than state-owned banks and other type of banks; and (v) notably, Islamic banks show
their superiority through overall performance despite their lower capital stability
than conventional banks. Besides, no models show significant non-linear
relationship between capital regulation and risk-taking except models of stability
show a U-shaped relation in capital equation, indicating that when regulatory
pressure works in a country then bank lose solvency at the initial stage. Finally,
it also provides some imperative policy implications which will be very useful for
a wide range of stakeholders.
C1 [Zheng, Changjun; Moudud-Ul-Huq, Syed] Huazhong Univ Sci & Technol, Sch
Management, Wuhan 430074, Hubei, Peoples R China.
[Moudud-Ul-Huq, Syed] Mawlana Bhashani Sci & Technol Univ, Dept Business Adm,
Tangail 1902, Bangladesh.
[Rahman, Mohammad Morshedur] Chittagong Univ, Dept Accounting & Informat Syst,
Chittagong, Bangladesh.
[Ashraf, Badar Nadeem] East China Jiao Tong Univ, Int Sch, Nanchang 330013,
Jiangxi, Peoples R China.
RP Moudud-Ul-Huq, S (corresponding author), Huazhong Univ Sci & Technol, Sch
Management, Wuhan 430074, Hubei, Peoples R China.; Moudud-Ul-Huq, S (corresponding
author), Mawlana Bhashani Sci & Technol Univ, Dept Business Adm, Tangail 1902,
Bangladesh.
EM zhchjun@hust.edu.cn; moudud_cu7@hust.edu.cn
RI Ashraf, Badar Nadeem/N-7381-2016
OI Ashraf, Badar Nadeem/0000-0001-5750-6414
FU project of National Natural Science Foundation of China (NSFC)National
Natural Science Foundation of China [71173077]
FX This work was supported by the project of National Natural Science
Foundation of China (NSFC) Grant No. [71173077].
NR 117
TC 10
Z9 10
U1 4
U2 13
PI AMSTERDAM
SN 0275-5319
EI 1878-3384
PD DEC
PY 2017
VL 42
BP 404
EP 421
DI 10.1016/j.ribaf.2017.07.035
PG 18
GA FO6LK
UT WOS:000416974400031
DA 2020-08-12
ER
PT J
AU Trabelsi, N
Naifar, N
AF Trabelsi, Nader
Naifar, Nader
TI Are Islamic stock indexes exposed to systemic risk? Multivariate GARCH
estimation of CoVaR
LA English
DT Article
DE Systemic risk; CoVaR; Islamic stock indexes; Hedging strategy
ID CONDITIONAL HETEROSKEDASTICITY; CORPORATE GOVERNANCE;
EMPIRICAL-EVIDENCE; EUROPEAN BANKS; SHARIA STOCKS; CO-MOVEMENT; RETURNS;
MARKETS; PERFORMANCE; SUKUK
AB The main objective of this paper is to assess the exposure of Islamic stock
indexes to systemic tail events. We use Conditional Value-at-Risk (CoVaR) and Delta
CoVaR measures as developed by Adrian and Brunnermeier (2011) and a sample of
Islamic and conventional stock indexes, from various developed and emerging
markets, during the period September 2005 to March 2015. The empirical results
reveal that the systemic risk has a moderate adverse effect on Islamic indexes,
with a lower level in Gulf Cooperation Council countries (GCC hereafter). The
findings also show the Asian stock indexes can be considered as effective hedge
assets, after the global financial crisis (GFC hereafter). Furthermore, the
empirical reveal that portfolio including Islamic stock indexes performs better
than a benchmark portfolio in turmoil periods. These findings have several
implications in financial decisions including the strategy of stability and asset
allocation.
C1 [Trabelsi, Nader; Naifar, Nader] Al Imam Mohammad Ibn Saud Islamic Univ IMSIU,
Coll Econ & Adm Sci, Dept Finance & Investment, POB 5701, Riyadh, Saudi Arabia.
[Trabelsi, Nader] Univ SFAX, Fac Econ & Management FSEG Sfax, BP 3018, Sfax,
Tunisia.
RP Trabelsi, N (corresponding author), Al Imam Mohammad Ibn Saud Islamic Univ
IMSIU, Coll Econ & Adm Sci, Dept Finance & Investment, POB 5701, Riyadh, Saudi
Arabia.
EM nhtrabelsi@imamu.edu.sa; naneifar@imamu.edu.sa
RI Naifar, Nader/AAJ-2859-2020
OI Naifar, Nader/0000-0001-9554-8236
NR 50
TC 8
Z9 8
U1 2
U2 11
PI AMSTERDAM
SN 0275-5319
EI 1878-3384
PD DEC
PY 2017
VL 42
BP 727
EP 744
DI 10.1016/j.ribaf.2017.07.013
PG 18
GA FO6LK
UT WOS:000416974400055
DA 2020-08-12
ER
PT J
AU Shibani, O
De Fuentes, C
AF Shibani, Osama
De Fuentes, Cristina
TI Differences and similaritites between corporate governance principles in
Islamic banks and Conventional banks
LA English
DT Article
DE Corporate governance; Islamic banks; Conventional banks; Paradigms
ID SUPERVISION; MODEL
AB The purpose of this paper is to present the some differences and similarities
between corporate governance principles in Islamic banks and conventional banks by
paradigmatic diversification. Since Corporate governance in Islamic banks is a
social phenomenon in Islamic societies, the paper uses social theory paradigms
(functionalist, interpretive, radical humanist and radical structuralist) to
compare between corporate governance in Islamic banks and conventional banks. This
paper demonstrates that mainstream corporate corporate governance theories are not
a law of nature but a social construct.
C1 [Shibani, Osama; De Fuentes, Cristina] Univ Valencia, Fac Econ, Avda Tarongers
S-N, Valencia, Spain.
RP Shibani, O (corresponding author), Univ Valencia, Fac Econ, Avda Tarongers S-N,
Valencia, Spain.
EM alshibane76@yahoo.com
NR 17
TC 3
Z9 3
U1 1
U2 6
PI AMSTERDAM
SN 0275-5319
EI 1878-3384
PD DEC
PY 2017
VL 42
BP 1005
EP 1010
DI 10.1016/j.ribaf.2017.07.036
PG 6
GA FO6LK
UT WOS:000416974400075
DA 2020-08-12
ER
PT J
AU Rozzani, N
Mohamed, IS
Yusuf, SNS
AF Rozzani, Nabilah
Mohamed, Intan Salwani
Yusuf, Sharifah Norzehan Syed
TI Risk management process: Profiling of islamic microfinance providers
LA English
DT Article
DE Corporate governance; Case study; Microfinance; Disbursement; Repayment;
Risk
ID CREDIT RISK; MICROCREDIT
AB This study intends to compare and contrast the risks faced by two types of
Islamic microfinance providers in Malaysia, which are non-governmental organization
and commercial financial institution. Using comparative case study method,
interview sessions were conducted on staffs of two Islamic microfinance providers.
With respect to their disbursement and repayment system, it was found that both
Institution A and Institution B are both exposed to Shariah risk, operational risk
and credit risk. In addition to that, as Institution B is an established and
reputable financial institution in Malaysia, it is also exposed to reputational
risk.
C1 [Rozzani, Nabilah; Mohamed, Intan Salwani; Yusuf, Sharifah Norzehan Syed] Univ
Teknol MARA, Accounting Res Inst, Shah Alam, Malaysia.
RP Rozzani, N (corresponding author), Univ Teknol MARA, Accounting Res Inst, Shah
Alam, Malaysia.
EM nabilah.rozzani@gmail.com
RI Rozzani, Nabilah/N-2392-2014; Mohamed, Intan Salwani/AAM-2276-2020;
Mohamed, Intan Salwani/I-5669-2019
OI Rozzani, Nabilah/0000-0002-6603-7274; Mohamed, Intan
Salwani/0000-0002-0267-9534
FU Accounting Research Institute (ARI); Universiti Teknologi MARA (UiTM);
Malaysia's Ministry of Higher Education (MOHE)
FX The authors would like to express their gratitude to Accounting Research
Institute (ARI), Universiti Teknologi MARA (UiTM), and Malaysia's
Ministry of Higher Education (MOHE) for providing the financial means
and facilities to assist with data collection and report preparation of
the current study. This article would not have been possible without the
support of the grant provider, family members, and friends.
NR 51
TC 0
Z9 0
U1 2
U2 9
PI AMSTERDAM
SN 0275-5319
EI 1878-3384
PD OCT
PY 2017
VL 41
BP 20
EP 27
DI 10.1016/j.ribaf.2017.04.009
PG 8
GA FO6JV
UT WOS:000416970200003
DA 2020-08-12
ER
PT J
AU Nor, NHM
Nawawi, A
Salin, ASAP
AF Nor, N. H. M.
Nawawi, A.
Salin, A. S. A. P.
TI The Influence of Board Independence, Board Size and Managerial Ownership
on Firm Investment Efficiency
LA English
DT Article
DE Investment; corporate governance; board independence; board size;
managerial ownership; Malaysia
ID FINANCIAL-REPORTING QUALITY; ISLAMIC WORK ETHICS; CORPORATE GOVERNANCE;
AUDIT COMMITTEE; EARNINGS MANAGEMENT; INFORMATION; DISCLOSURE;
ETHNICITY; EMPLOYEES
AB The purpose of this study is to examine the relationship between corporate
governance, namely board independence, board size, and managerial ownership, with
firm investment efficiency. Top 200 public listed companies in Malaysia according
to market capitalisation from 2009 to 2011 were selected as a sample for the study.
Level of investment efficiency was determined based on deviation from expected
investment using the investment prediction model as a function of revenue growth.
Board independence is measured by proportion of independent non-executive director
of the board while board size is based on total number of directors of the board.
Managerial ownership was calculated based on percentage of share owned by the
executive director over the total number of shares issued by the company. Size of
firm was computed based on total assets used as a control variable. Binomial
logistic regression analysis was employed to test the hypotheses. The study found
that only board size influenced the level of investment of the company, while board
independence and managerial ownership prevent inefficiency pertaining to investment
decision making. The results confirm the role of corporate governance in enhancing
the performance of the company, particularly the role of the board size in
protecting the interest of the shareholders.
C1 [Nor, N. H. M.] Kolej Teknol Darul Naim, Kota Baharu 16100, Kelantan, Malaysia.
[Nawawi, A.] Univ Teknol MARA, Fac Accountancy, Shah Alam 40450, Selangor,
Malaysia.
[Salin, A. S. A. P.] Univ Teknol MARA, Fac Accountancy, Bandar Baru Seri Iskanda
32610, Perak, Malaysia.
RP Salin, ASAP (corresponding author), Univ Teknol MARA, Fac Accountancy, Bandar
Baru Seri Iskanda 32610, Perak, Malaysia.
EM hizetie@gmail.com; anuar217@salam.uitm.edu.my; saifulazlin@yahoo.com
NR 78
TC 8
Z9 8
U1 0
U2 1
PI SELANGOR
SN 0128-7702
EI 2231-8534
PD SEP
PY 2017
VL 25
IS 3
BP 1039
EP 1057
PG 19
GA FY5CZ
UT WOS:000426845200002
DA 2020-08-12
ER
PT J
AU Garas, S
Tessema, A
Tee, K
AF Garas, Samy
Tessema, Abiot
Tee, Kienpin
TI The impact of Islamic Financial Services Board Standard No. 3 on
corporate governance of listed firms in Kuwait
SO INTERNATIONAL JOURNAL OF DISCLOSURE AND GOVERNANCE
LA English
DT Article
DE IFSB; Corporate governance; Islamic Financial Institutions; Board of
directors; Shari'a Supervisory Board; Kuwait
ID OWNERSHIP CONCENTRATION; EQUITY OWNERSHIP; MARKET VALUATION;
OF-DIRECTORS; PERFORMANCE; PERSPECTIVE; COMPANIES; MATTER
AB This paper investigates whether corporate governance standard No. 3 that has
been issued by Islamic Financial Services Board (IFSB-3) has improved corporate
governance structure of firms listed in the Kuwait stock market. In addition, the
paper investigates whether the influence of IFSB-3 on corporate governance varies
between Islamic and conventional financial institutions. We test two hypotheses
using a sample of firms listed in Kuwait stock exchange over a period of 2000-2013.
Ordinary least square regression and fixed effects estimation techniques are
applied to test the hypotheses. The findings reveal all corporate governance
measures indicate that the corporate governance has improved after the issuance of
IFSB-3. The results also reveal that the improvement in corporate governance after
the implementation of IFSB-3 is higher for Islamic than for conventional financial
institutions. This suggests that IFAB-3 is more important for Islamic than
conventional institutions. Accordingly, we conclude that corporate governance
guideline (IFAB-3) has improved the corporate governance structure of firms listed
in the Kuwait stock market. In this context, the study increases the awareness of
standard setters, academics, investors, regulators, and many other stakeholders
about the effect of IFAB-3 in the region. Finally, our study fills evident gap in
the literature by investigating the influence of corporate governance guideline
(IFSB-3) on corporate governance structure in a unique setting that is often
ignored by accounting scholars, which helps to widen our knowledge on accounting
practices across the globe.
C1 [Garas, Samy; Tessema, Abiot; Tee, Kienpin] Zayed Univ, Coll Business, Dubai, U
Arab Emirates.
RP Garas, S (corresponding author), Zayed Univ, Coll Business, Dubai, U Arab
Emirates.
EM samy.garas@zu.ac.ae
OI tessema, abiot/0000-0001-8423-8232
NR 76
TC 0
Z9 0
U1 0
U2 0
PI BASINGSTOKE
SN 1741-3591
EI 1746-6539
J9 INT J DISCL GOV
JI Int. J. Discl. Gov.
PD AUG
PY 2017
VL 14
IS 3
BP 251
EP 263
DI 10.1057/s41310-017-0024-9
PG 13
WC Management
GA FP2KM
UT WOS:000417446200005
DA 2020-08-12
ER
PT J
AU Viviers, S
Els, G
AF Viviers, Suzette
Els, Gideon
TI Responsible investing in South Africa: past, present and future
SO AFRICAN REVIEW OF ECONOMICS AND FINANCE-AREF
LA English
DT Article
DE Social and Corporate Governance; Impact investing; Institutional
investors; Responsible investing; South Africa
ID CORPORATE GOVERNANCE; PERFORMANCE; SHAREHOLDER
AB Despite strong growth in responsible investing (RI) internationally, only a few
institutional investors in South Africa have adopted this investment philosophy.
This article contributes to the limited body of African RI literature by
identifying significant events that shaped the nature of the South African RI
market from 1992 to 2014, investigating the RI strategies and investment criteria
used by local RI fund managers and evaluating the ethical underpinnings of these
funds. The publication of the three King reports on corporate governance in 1994,
2002 and 2009 and the launch of the United Nations Principles for Responsible
Investment in 2006 had the biggest positive impact on the RI market's development.
Legislative changes and the formulation of institutional investor guidelines (such
as the Code for Responsible Investing in South Africa) also provided some impetus,
but not as much as initially anticipated. The vast majority of local RI funds have
an impact investing strategy, employ socially-oriented investment criteria and have
a utilitarian or Islamic ethic. The wider adoption of RI in South Africa is
recommended given the benefits this investment discipline holds for investors,
society and nature. Improved corporate reporting as well as investor and trustee
education are, however, necessary to achieve this goal.
C1 [Viviers, Suzette] Stellenbosch Univ, Dept Business Management, ZA-7602
Matieland, South Africa.
[Els, Gideon] Univ Johannesburg, Dept Finance & Investment Management, POB 524,
Auckland Pk 2006, South Africa.
RP Viviers, S (corresponding author), Stellenbosch Univ, Dept Business Management,
ZA-7602 Matieland, South Africa.
EM sviviers@sun.ac.za; gideone@uj.ac.za
NR 107
TC 2
Z9 2
U1 0
U2 6
PU UNISA PRESS
PI PRETORIA
PA PO BOX 392, PRETORIA, 0003, SOUTH AFRICA
SN 2042-1478
EI 2410-4906
J9 AFR REV ECON FINANC-
JI Afr. Rev. Econ. Financ.-AREF
PD JUN
PY 2017
VL 9
IS 1
BP 122
EP 155
PG 34
WC Economics
GA FJ9LE
UT WOS:000413097700005
DA 2020-08-12
ER
PT J
AU Chen, V
AF Chen, Vivien
TI Law and Society in the Evolution of Malaysia's Islamic Capital Market
Regulation
SO ASIAN JOURNAL OF LAW AND SOCIETY
LA English
DT Article
DE sharia; common law; Malaysia; culture; political economy
ID LEGAL ORIGINS; COMMON-LAW; SHAREHOLDER PROTECTION; CORPORATE GOVERNANCE;
POLITICS; LABOR; RELIGION; REFORM; QURAN; STATE
AB The strong growth of Islamic capital markets internationally has seen the
corresponding development of regulatory frameworks incorporating sharia law.
Malaysia has been at the forefront of Islamic capital market regulatory
development, merging corporate law drawn from its common-law heritage with sharia
principles. This article examines the interaction of law with political economy and
sociocultural influences in Malaysia which has underpinned the evolution of hybrid
Islamic capital market regulation. It analyses the evolution of Malaysian Islamic
capital market regulation against theories of legal origin and legal evolution. The
analysis suggests that the sharia and common-law components of Islamic capital
market regulation have evolved along two separate and seemingly inconsistent
trajectories. While the secular corporate law component continues to evolve in
tandem with its common-law tradition, development of the sharia component
represents a distinct shift away from common-law traditions.
C1 [Chen, Vivien] Monash Univ, Monash Business Sch, Clayton, Vic, Australia.
RP Chen, V (corresponding author), Dept Business Law & Taxat, POB 197, Caulfield,
Vic 3145, Australia.
EM chen.v@unimelb.edu.au
NR 121
TC 1
Z9 1
U1 0
U2 9
PU CAMBRIDGE UNIV PRESS
PI CAMBRIDGE
PA EDINBURGH BLDG, SHAFTESBURY RD, CB2 8RU CAMBRIDGE, ENGLAND
SN 2052-9015
EI 2052-9023
J9 ASIAN J LAW SOC
JI ASIAN J. LAW SOC.
PD MAY
PY 2017
VL 4
IS 1
BP 133
EP 156
DI 10.1017/als.2016.20
PG 24
WC Law
SC Government & Law
GA ET7SQ
UT WOS:000400498900005
DA 2020-08-12
ER
PT J
AU Fauzi, F
Basyith, A
Foo, D
AF Fauzi, Fitriya
Basyith, Abdul
Foo, Dani
TI Committee on board: Does it matter? A study of Indonesian Sharia-listed
firms
SO COGENT ECONOMICS & FINANCE
LA English
DT Article
DE committee on board; firm value; Indonesian Sharia-listed-firms
ID AUDIT COMMITTEE; CORPORATE GOVERNANCE; EARNINGS MANAGEMENT; PERFORMANCE;
MECHANISMS; SIZE
AB The committee on board includes audit committee and nomination committee that
currently has been questioned as to whether the firm value is also affected by the
committees' performance that has been the subject of attention. Apparently, this
study is the first to attempt providing an evidence of committees' role on to the
extent of its contribution to firm value in the context of Indonesian Sharia-listed
firms as the establishment of Islamic-compliance firms is currently experiencing an
upward trend in many countries. Hence it is enticing to examine the impact of
committee on board as part of corporate governance mechanisms on firm value in the
Indonesian Sharia-listed firms. Using an Indonesian Sharia-listed firms which
counts for 30 firms in the quarterly period of 2009 to 2015, this study employs a
720 balanced panel, using Generalized Least Square. The results reveal that the
audit committee and the nomination committee have a significant impact on firm
value (Tobin's Q). The non-significant result for ROA suggesting that the mixed
measured of book and market is viewed more reliable for investors as it indicates
the overall performance measure. Meanwhile the result of the number of audit
committee meeting yielded no significant impact on firm value; this may be due to
no restrictions on the number of positions of audit committee serves in firms,
therefore, the auditor may be manifold in some companies which can be overlapping.
Further, the number of audit committee only meets the regulations and yet the
transparency is still far beyond.
C1 [Fauzi, Fitriya] Curtin Univ, Dept Finance & Banking, Miri, Malaysia.
[Basyith, Abdul] Univ Muhammadiyah Palembang, Fac Econ & Business, Palembang,
Indonesia.
[Foo, Dani] Univ Waikato, Dept Accounting, Hamilton, New Zealand.
RP Fauzi, F (corresponding author), Curtin Univ, Dept Finance & Banking, Miri,
Malaysia.
EM fitriya.fauzi@curtin.edu.my; basyith_feump@yahoo.com; dfo@waikato.ac.nz
RI Fauzi, Fitriya/Q-7076-2017; Basyith, Abdul/Q-7061-2017
OI Fauzi, Fitriya/0000-0002-7032-2027; Basyith, Abdul/0000-0003-1931-3704
NR 64
TC 1
Z9 1
U1 0
U2 2
PU TAYLOR & FRANCIS AS
PI OSLO
PA KARL JOHANS GATE 5, NO-0154 OSLO, NORWAY
SN 2332-2039
J9 COGENT ECON FINANC
JI Cogent Econ. Financ.
PD APR 21
PY 2017
VL 5
IS 1
AR 1316547
DI 10.1080/23322039.2017.1316547
PG 12
WC Economics
GA ES4KZ
UT WOS:000399504400001
OA DOAJ Gold, Green Published
DA 2020-08-12
ER
PT J
AU Hayat, R
Hassan, MK
AF Hayat, Raphie
Hassan, M. Kabir
TI Does an Islamic label indicate good corporate governance?
SO JOURNAL OF CORPORATE FINANCE
LA English
DT Article
DE Islamic finance; Corporate governance; Leverage; Agency problems
ID CAPITAL STRUCTURE; BOARDS; FINANCE
AB In this paper we study the effect of an Islamic label on corporate governance.
Listed firms with an Islamic label (Islamic firms) are characterized by low
leverage. Because recent evidence indicates that leverage can act as a substitute
for good governance, it is tempting to expect these Islamic firms to have better
governance than their non-Islamic peers. However, we find no significant difference
in overall governance between Islamic and non-Islamic S&P 500 firms. Also, after
controlling for other determinants of governance, we find no significant effect of
an Islamic label. We do find that an Islamic label adds about 2 percentage points
of governance quality, as measured by the Bloomberg Governance Disclosure score.
However, this effect is not related to leverage. (C) 2017 Elsevier B.V. All rights
reserved.
C1 [Hayat, Raphie] Rabobank Econ Res, Croeselaan 18, NL-3521 CB Utrecht,
Netherlands.
[Hassan, M. Kabir] Univ New Orleans, Econ & Finance, Coll Business Adm, 2000
Lakeshore Dr, New Orleans, LA 70148 USA.
RP Hassan, MK (corresponding author), Univ New Orleans, Econ & Finance, Coll
Business Adm, 2000 Lakeshore Dr, New Orleans, LA 70148 USA.
EM raphie.hayat@gmail.com; mhassan@uno.edu
RI Hassan, M. Kabir/D-5053-2012
OI Hassan, M. Kabir/0000-0001-6274-3545
NR 37
TC 14
Z9 14
U1 0
U2 21
PI AMSTERDAM
SN 0929-1199
EI 1872-6313
J9 J CORP FINANC
JI J. Corp. Financ.
PD APR
PY 2017
VL 43
BP 159
EP 174
DI 10.1016/j.jcorpfin.2016.12.012
PG 16
GA ES1DV
UT WOS:000399269000009
DA 2020-08-12
ER
PT J
AU Mollah, S
Hassan, MK
Al Farooque, O
Mobarek, A
AF Mollah, Sabur
Hassan, M. Kabir
Al Farooque, Omar
Mobarek, Asma
TI The governance, risk-taking, and performance of Islamic banks
SO JOURNAL OF FINANCIAL SERVICES RESEARCH
LA English
DT Article
DE Corporate governance; Risk-taking; Firm performance; Islamic banks
ID CORPORATE GOVERNANCE; FINANCIAL STABILITY; BOARD STRUCTURE;
INSTITUTIONS; MODELS
AB We examine whether the difference in governance structures influences the risk
taking and performance of Islamic banks compared to conventional banks. Using a
sample of 52 Islamic banks and 104 conventional banks in 14 countries for the
period from 2005 to 2013, we conclude that the governance structure in Islamic
banks plays a crucial role in risk taking as well as financial performance that is
distinct from conventional banks. Particularly, we show that the governance
structure in Islamic banks allows them to take higher risks and achieve better
performance because of product complexities and transaction mechanisms. However,
Islamic banks maintain a higher capitalization compared to conventional banks.
These results support the research on Islamic investment and risk taking. Our
results add a new dimension to the governance research that could be a valuable
source of knowledge for policy makers and regulators in the financial services
sector.
C1 [Mollah, Sabur; Mobarek, Asma] Stockholm Univ, Stockholm Business Sch,
Stockholm, Sweden.
USA.
[Al Farooque, Omar] Univ New England, UNE Sch Business, Armidale, NSW,
Australia.
RP Mollah, S (corresponding author), Stockholm Univ, Stockholm Business Sch,
Stockholm, Sweden.
EM sabur.mollah@sbs.su.se; mhassan@uno.edu; ofarooqu@une.edu.au;
asma.mobarek@sbs.su.se
RI Farooque, Omar Al/H-4169-2019
OI Farooque, Omar Al/0000-0002-6346-1125; mollah, sabur/0000-0002-6342-8309
FU Jan Wallenders och Tom Hedelius Stiftelse, Handelsbanken, Sweden
[P2010-0144: 1]
FX We are grateful to the Editor, Prof. Haluk Unal, the Managing Guest
Editors of the special issue, Prof. M. Shahid Ebrahim, Prof. Phil
Molyneux, Prof. Steven Ongena, and two anonymous referees for valuable
comments. We acknowledge financial support from Jan Wallenders och Tom
Hedelius Stiftelse, Handelsbanken, Sweden, for this research (Project ID
P2010-0144: 1). An earlier version of this paper was presented at the
47th Euro Working Group on Financial Modeling, October, 2010, Prague,
Czech Republic; at the seminar on Islamic Finance, 14 January, 2011,
University of Dhaka, Bangladesh; the 61st Midwest Finance Association
2012 Meeting, 22-25 February, 2012, New Orleans, USA; and the
Bangor-JFSR Conference, 15 September, 2014, Bangor, UK. We are thankful
to Meryem Duygun for her valuable comments as a discussant at the
Bangor-IRTI-JFSR conference. We have hugely benefitted from the comments
by the discussants and participants in the conferences. We are also
grateful to M. Shahid Ebrahim, Philip Molyneux, Omneya Abdelsalam, and
Wares Karim for their comments on the earlier draft of this paper. We
are also thankful to Omar Sikder, Sharifur Rahman, Al-Amin, Ziauddin,
Zahiduzzaman, Humyra Jabeen, and IK Nahid for research assistance with
the hand collected data. The authors are responsible for any remaining
errors.
NR 50
TC 43
Z9 43
U1 0
U2 34
PU SPRINGER
PI NEW YORK
PA 233 SPRING ST, NEW YORK, NY 10013 USA
SN 0920-8550
EI 1573-0735
J9 J FINANC SERV RES
JI J. Financ. Serv. Res.
PD APR
PY 2017
VL 51
IS 2
BP 195
EP 219
DI 10.1007/s10693-016-0245-2
PG 25
GA EP8AW
UT WOS:000397599300003
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Hidayat, IP
Firmansyah, I
AF Hidayat, Iman Pirman
Firmansyah, Irman
TI DETERMINANTS OF FINANCIAL PERFORMANCE IN THE INDONESIAN ISLAMIC
INSURANCE INDUSTRY
SO ETIKONOMI
LA English
DT Article
DE good corporate governance; leverage; financial performance; Islamic
insurance
AB The purpose of this study is to determine the role of the board of directors as
an operating executive, as the company's supervisory board of commissioners, the
proportion of managerial ownership and institutional ownership as well as leverage
on the financial performance of Islamic insurance industry. The method used is
multiple regression analysis and Moderated Regression Analysis. Data of company
successfully researched as many as 15 Islamic insurance companies in Indonesia with
a study period of 2011 to 2015. The results showed that the board does not affect
the financial performance of Islamic insurance industry. The variables such as:
commissioners, managerial ownership, and institutional ownership and leverage
positive effect on the financial performance of Islamic insurance industry in
Indonesia. The size of the company weakens the relationship between the number of
directors and leverage to financial performance, and did not moderate the
relationship between the number of commissioners, managerial ownership and
institutional ownership of the financial performance of Islamic insurance industry
in Indonesia.
C1 [Hidayat, Iman Pirman; Firmansyah, Irman] Univ Siliwangi, Tasikmalaya,
Indonesia.
RP Hidayat, IP (corresponding author), Univ Siliwangi, Tasikmalaya, Indonesia.
EM imanfirman@unsil.ac.id; irman_tasik@yahoo.co.id
NR 13
TC 0
Z9 0
U1 0
U2 1
PU SYARIF SYARIF HIDAYATULLAH STATE UNIV JAKARTA
PI BANTEN
PA FAC ECONOMIC & BUSINESS, JL IR H JUANDA 95, CIPUTAT, SOUTH TANGERANG,
BANTEN, 15412, INDONESIA
SN 1412-8969
EI 2461-0771
J9 ETIKONOMI
JI Etikonomi
PD APR
PY 2017
VL 16
IS 1
BP 1
EP 12
DI 10.15408/etk.v16i1.4648
PG 12
WC Economics
GA VI2DM
UT WOS:000462821700001
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Rahman, FK
Tareq, MA
Yunanda, RA
Mahdzir, A
AF Rahman, Faried Kurnia
Tareq, Mohammad Ali
Yunanda, Rochania Ayu
Mahdzir, Akbariah
TI Maqashid Al-Shari'ah-based performance measurement for the halal
industry
SO HUMANOMICS
LA English
DT Article
DE Performance; Issues; Maslahah; Halal industry; Maqashid Al-Shari'ah
ID CORPORATE GOVERNANCE; FIRM PERFORMANCE; PERSPECTIVE; FRAMEWORK; MODEL
AB 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.
C1 [Rahman, Faried Kurnia] MJIIT Univ Teknol Malaysia, Dept Management Technol,
Skudai, Malaysia.
[Tareq, Mohammad Ali; Yunanda, Rochania Ayu; Mahdzir, Akbariah] MJIIT Univ
Teknol Malaysia, Dept Management Technol, Kuala Lumpur, Malaysia.
RP Rahman, FK (corresponding author), MJIIT Univ Teknol Malaysia, Dept Management
Technol, Skudai, Malaysia.
EM tareq.mjiit@gmail.com
RI Tareq, Mohammad Ali/D-5524-2016
OI Tareq, Mohammad Ali/0000-0001-5521-8814
NR 69
TC 5
Z9 5
U1 1
U2 7
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2017
VL 33
IS 3
SI SI
BP 357
EP 370
DI 10.1108/H-03-2017-0054
PG 14
WC Economics
GA FE5JM
UT WOS:000408247800006
DA 2020-08-12
ER
PT J
AU Kolsi, MC
Grassa, R
AF Kolsi, Mohamed Chakib
Grassa, Rihab
TI Did corporate governance mechanisms affect earnings management? Further
evidence from GCC Islamic banks
MANAGEMENT
LA English
DT Article
DE Financial crisis; Earnings management; Islamic banks; Corporate
governance mechanisms; Discretionary LLPs
ID LOAN LOSS PROVISIONS; CONVENTIONAL BANKS; BOARD COMPOSITION; AUDIT
COMMITTEES; FAMILY OWNERSHIP; MALAYSIAN BANKS; PERFORMANCE; FIRM;
BEHAVIOR; IMPACT
AB Purpose - The aim of this paper is to examine the impact of corporate governance
mechanisms on earnings management practice for a sample of Gulf Cooperation Council
(GCC) Islamic banks (IBs) using a new model of earnings management.
Design/methodology/approach - First, the authors estimate discretionary accruals
based on loan loss provisions discretionary loan loss provision (DLLP) using the
procedure derived from Jones' (1991) original model. Second, the authors run a
multivariate regression model to check the linkage between corporate governance
characteristics and discretionary loan loss provision. Finally, the authors use an
additional sensitivity check analysis to assess whether the results are robust to
the estimation procedure and to other exogenous factors.
Findings - Using as sample of 26 IBs pertaining to the GCC region with a total
of 223 firm-year observations and a nine-year period (2004-2012), the results are
conclusive and show that first, IBs with large Shariah Board size manage less DLLP.
Secondly, Accounting and Auditing Organization for Islamic Financial Institutions
membership positively impacts earnings management through DLLP in IBs. Third, there
is a negative relationship between boards of director's independence the extent to
which IBs manage DLLP. Fourth, the existence of block holders positively affects
earnings management by IBs. Fifth, there is a negative relationship between audit
committee meetings and DLLP. Finally, institutional ownership and bank size have no
effect on earnings management through DLLPs.
Research limitations/implications - In this research, the authors do not take
into account all governance factors that are supposed to impact earnings management
in IBs. Future research should explore the impact of additional IBs governance
structures including chief executive officer bonus, experience, gender and the
extent to which IBs use real earnings management with Murabaha, Mudaraba and
Musharaka transactions.
Practical implications - The paper is a very useful source of information that
may provide relevant guidelines in helping the future development of corporate
governance of IBs. In addition, the findings could prove to be useful for
regulators because they are responsible for the acceptable level of corporate
governance standards. Thus, they must consider strengthening governance mechanisms
either through new legislation or stronger enforcement where earnings management is
of such magnitude to that serious impedes information transparency and financial
reporting quality of IBs.
Originality/value - This study associates the corporate governance
characteristics with earnings management by IBs. The study contributes to the
growing body of literature on earnings management and corporate governance in IBs.
It should be useful to researchers, regulators, investors, analysts and creditors
as well as other players in the capital markets, as it presents a new and important
aspect that needs to be accounted for when assessing the quality of IBs' accounting
information in GCC countries.
C1 [Kolsi, Mohamed Chakib] Emirates Coll Technol, Dept Accounting, Abu Dhabi, U
Arab Emirates.
[Grassa, Rihab] Higher Inst Accounting & Business Studies, Manouba, Tunisia.
RP Kolsi, MC (corresponding author), Emirates Coll Technol, Dept Accounting, Abu
Dhabi, U Arab Emirates.
EM chakibkolsi@gmail.com
OI Kolsi, Mohamed Chakib/0000-0002-0861-9073
NR 76
TC 8
Z9 8
U1 2
U2 19
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2017
VL 10
IS 1
BP 2
EP 23
DI 10.1108/IMEFM-07-2015-0076
PG 22
GA EU5FJ
UT WOS:000401056700001
DA 2020-08-12
ER
PT J
AU Mbawuni, J
Nimako, SG
AF Mbawuni, Joseph
Nimako, Simon Gyasi
TI Determinants of Islamic banking adoption in Ghana
MANAGEMENT
LA English
DT Article
DE Ghana; Islamic banking; Sharia; Bank of Ghana; Interest-free
ID INNOVATION PERFORMANCE; CORPORATE GOVERNANCE; FINANCE; CUSTOMERS; TRUST;
INSTITUTIONS; SATISFACTION; TECHNOLOGY; ACCEPTANCE; PERCEPTION
AB Purpose - This study aims to examine factors affecting the adoption of Islamic
banking (IB), which is an innovative and emerging form of banking, in a non-Islamic
Sub-Saharan African (SSA) country.
Design/methodology/approach - It used primary data collected from a cross-
section of 975 respondents using self-administered structured questionnaire.
Empirical data were analysed using SPSS version 16 and partial least squares
structural equation modelling (PLS-SEM) for Muslim and non-Muslim groups.
Findings - Consumer attitude, readiness to comply with Sharia law, knowledge,
perceived innovativeness and perceived benefits were critical determinants of bank
customers' intention to adopt IB in both Muslim and non-Muslim sub-groups. The
least influential factors were perceived religion effect (PRE) and perceived threat
of violence (PTV). PTV was not a significant factor to non-Muslims, but it was a
significantly negative factor to Muslims' intentions to adopt IB. PRE has a
positive influence on Muslims' intention to adopt IB, but it has a negative
effective on non-Muslims' adoption intentions.
Research limitations/implications - This study is limited to only bank customers
in Ghana. Moreover, service quality factors were not included in the research model
because IB is yet to be given full-fledged operational license in Ghana. Future
research should extend the study to other emerging countries to improve the
generalizability of the findings.
Practical implications - Policymakers are encouraged to develop stakeholder-
oriented strategies to promote effective consumer education in IB. Also, IB
institution should endeavour to develop innovative financial products that are
Sharia-compliant and economically beneficial to individual and business needs of
bank customers. Moreover, policymakers and management of IB institutions should
ensure effect governance structures to guide IB operations.
Originality/value - This study provides initial structural equation modelling of
determinants of IB adoption in emerging countries and provides empirical evidence
on the spread of IB in non-Islamic SSA, which is an under-researched area. It is
the first study to empirically report on the influence of PTV, readiness to
compliance Sharia law and perceived innovativeness of IB on intentions to adopt IB
in non-Islamic SSA context.
C1 [Mbawuni, Joseph] Univ Educ, Dept Accounting Studies, Winneba, Ghana.
[Nimako, Simon Gyasi] Univ Educ, Dept Management Studies, Winneba, Ghana.
RP Mbawuni, J (corresponding author), Univ Educ, Dept Accounting Studies, Winneba,
Ghana.
EM mbawuni@gmail.com
NR 72
TC 6
Z9 6
U1 0
U2 13
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2017
VL 10
IS 2
BP 264
EP 288
DI 10.1108/IMEFM-04-2016-0056
PG 25
GA FC8AA
UT WOS:000407062700008
DA 2020-08-12
ER
PT J
AU Elghuweel, MI
Ntim, CG
Opong, KK
Avison, L
AF Elghuweel, Mohamed I.
Ntim, Collins G.
Opong, Kwaku K.
Avison, Lynn
TI Corporate governance, Islamic governance and earnings management in Oman
A new empirical insights from a behavioural theoretical framework
SO JOURNAL OF ACCOUNTING IN EMERGING ECONOMIES
LA English
DT Article
DE Oman; Corporate governance; Earnings management; Quantitative research;
Behavioural theory; Islamic governance
ID SOCIAL-RESPONSIBILITY DISCLOSURE; AUDIT COMMITTEE; VALUE RELEVANCE;
BOARD; RELIGION; FIRM; PERFORMANCE; OWNERSHIP; DIRECTORS; ACCRUALS
AB Purpose - The purpose of this paper is to examine the impact of corporate (CG)
and Islamic (IG) governance mechanisms on corporate earnings management (EM)
behaviour in Oman.
Design/methodology/approach - The authors employ one of the largest and
extensive data sets to-date on CG, IG and EM in any developing country, consisting
of a sample of 116 unique Omani listed corporations from 2001 to 2011 (i.e. 1,152
firm-year observations) and a broad CG index containing 72 CG provisions. The
authors also employ a number of robust econometric models that sufficiently account
for alternative CG/EM proxies and potential endogeneities.
Findings - First, the authors find that, on average, better-governed
corporations tend to engage significantly less in EM than their poorly governed
counterparts. Second, the evidence suggests that corporations that depict greater
commitment towards incorporating Islamic religious beliefs and values into their
operations through the establishment of an IG committee tend to engage
significantly less in EM than their counterparts without such a committee. Finally
and by contrast, the authors do not find any evidence that board size, audit firm
size, the presence of a CG committee and board gender diversity have any
significant relationship with the extent of EM.
Originality/value - To the best of the authors' knowledge, this is a first
empirical attempt at examining the extent to which CG and IG structures may drive
EM practices that explicitly seek to draw new insights from a behavioural
theoretical framework (i.e. behavioural theory of corporate boards and governance).
C1 [Elghuweel, Mohamed I.; Opong, Kwaku K.] Univ Glasgow, Accounting & Finance,
Glasgow, Lanark, Scotland.
[Ntim, Collins G.] Univ Southampton, Southampton Business Sch, Dept Accounting,
Southampton, Hants, England.
[Ntim, Collins G.; Avison, Lynn] Huddersfield Univ, Dept Accountancy & Finance,
RP Ntim, CG (corresponding author), Univ Southampton, Southampton Business Sch,
Dept Accounting, Southampton, Hants, England.; Ntim, CG (corresponding author),
Huddersfield Univ, Dept Accountancy & Finance, Huddersfield, W Yorkshire, England.
EM c.g.ntim@soton.ac.uk
OI Ntim, Collins/0000-0002-1042-4056
NR 120
TC 20
Z9 20
U1 2
U2 12
PI BINGLEY
SN 2042-1168
EI 2042-1176
J9 J ACCOUNT EMERG ECON
JI J. Account. Emerg. Econ.
PY 2017
VL 7
IS 2
BP 190
EP 224
DI 10.1108/JAEE-09-2015-0064
PG 35
GA EX0QM
UT WOS:000402925900003
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Albassam, WM
Ntim, CG
AF Albassam, Waleed M.
Ntim, Collins G.
TI The effect of Islamic values on voluntary corporate governance
disclosure The case of Saudi-listed firms
LA English
DT Article
DE Corporate governance; Saudi Arabia; Board characteristics; Voluntary
disclosure; Ownership structure; Islamic values
ID VALUATION; MARKET; DETERMINANTS; PERFORMANCE; EXTENT; UK
AB Purpose - The study aims to examine the effect of Islamic values on the extent
of voluntary corporate governance (CG) disclosure. In addition, the authors
investigate the effect of traditional ownership structure and CG mechanisms on the
extent of voluntary CG disclosure.
Design/methodology/approach - The authors distinctively construct Islamic values
and voluntary CG disclosure indices using a sample of 75 Saudi-listed firms over a
seven-year period in conducting multivariate regressions of the effect of Islamic
values on the extent of voluntary CG disclosure. The analyses are robust to
controlling for firm-level characteristics, fixed-effects, endogeneities and
alternative measures.
Findings - The authors find that corporations that depict greater commitment
towards incorporating Islamic values into their operations through high Islamic
values disclosure index score engage in higher voluntary CG disclosures than those
that are not. Additionally, the authors find that audit firm size, board size,
government ownership, institutional ownership and the presence of a CG committee
are positively associated with the level of voluntary CG disclosure, whereas block
ownership is negatively associated with the extent of voluntary CG disclosure.
Practical implications - The study has clear practical implications for future
research, practice and broader society by demonstrating empirically that
corporations that voluntarily incorporate Islamic values into their operations are
more likely to be transparent about their CG practices and thereby providing new
crucial insights on the effect of Islamic values on voluntary CG compliance and
disclosure.
Originality/value - This is the first empirical attempt at explicitly examining
the effect of Islamic values on the extent of voluntary CG disclosure. The authors
also offer evidence on the effect of traditional CG and ownership structures on the
extent of voluntary CG disclosure.
C1 [Albassam, Waleed M.] Al Imam Muhammad Ibn Saud Islamic Univ, Dept Accounting,
Coll Econ & Adm Sci, Riyadh, Saudi Arabia.
[Ntim, Collins G.] Univ Huddersfield, Sch Business, Huddersfield, W Yorkshire,
England.
RP Albassam, WM (corresponding author), Al Imam Muhammad Ibn Saud Islamic Univ,
Dept Accounting, Coll Econ & Adm Sci, Riyadh, Saudi Arabia.
EM wmalbassam@imamu.edu.sa
OI Ntim, Collins/0000-0002-1042-4056
NR 80
TC 12
Z9 12
U1 0
U2 3
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2017
VL 8
IS 2
BP 182
EP 202
DI 10.1108/JIABR-09-2015-0046
PG 21
GA EU5IX
UT WOS:000401065900004
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Almutairi, AR
Quttainah, MA
AF Almutairi, Ali R.
Quttainah, Majdi Anwar
TI Corporate governance: evidence from Islamic banks
SO SOCIAL RESPONSIBILITY JOURNAL
LA English
DT Article
DE Corporate governance; Islamic banks; SSB attributes; SSBs
ID SOCIAL-RESPONSIBILITY DISCLOSURE; BOARD COMPOSITION; FIRM PERFORMANCE;
DIRECTORS; SIZE; BUSY
AB Purpose - This paper aims to examine the impact of Shari'ah supervisory boards
(SSBs) on the performance of Islamic banks (IBs). It also tests whether SSBs'
attributes affect the performance of IBs. Based on a sample of 1,803 Islamic bank-
year observations from 82 banks in 15 countries over the period 1993-2014 and
controlling for factors known to affect bank performance, this study reveals a
robust and significant positive relationship between SSBs and Islamic bank
performance. This study also shows that the characteristics of SSBs affect the
performance of IBs. This research reveals how SSBs influence the performance of
IBs, as well as the processes and roles SSBs use to ensure Shari'ah compliance in
business transactions.
Design/methodology/approach - The purpose of this study design is to relate SSB
presence, size and diversity to financial performance using three techniques. The
first technique is a multivariate data analysis that analyzes data arising from
more than one variable. The second technique is a clustered regression (clustering
by bank), which corrects for serial correlation and produces unbiased t-statistics.
Because this sample is drawn from panel data, it is expected serial autocorrelation
of the independent variables and error term within banks. In cases where within-
company correlation exists, t-statistics based on average regression coefficients
from year-by-year regression are upwardly biased and potentially severe (Peterson,
2009). Therefore, this study uses a technique that agrees with Stock and Watson
(2002), who show that the standard method of calculating heteroskedasticity-robust
standard errors for the fixed-effects estimator generates inconsistent variance
estimates. Thus, using the clustered regression is consistent with the fixed-
effects estimator. The third technique is a two-stage least-squares regression that
helps build an instrumental variable for robustness tests purposes.
Findings - The findings suggest that large corporate boards and large SSBs are
more efficient in dealing with different monitoring and advisory roles than small
SSBs. Consequently, this suggests that increasing the size of corporate boards and
SSBs should improve monitoring and advisory functions, management behavior and
organizational performance.
Research limitations/implications - It is possible that there is an upper limit
to this benefit, however; we do not explore this limit, which therefore provides
opportunities for additional research. Because Shari'ah compliance relates only to
a rational legal framework of negative screening relegated to interest prohibition
and limiting uncertainty. The interest prohibition and limiting uncertainty have
not been investigated between the two samples due to data unavailability. In
addition, limited accounting-based measures of financial performance may not
accurately portray IB performance; hence, an additional market measure is
implemented, which is Tobin's Q.
Practical implications - Ultimately, these findings could help IBs improve their
financial results by enhancing their internal and external governance mechanisms
(Walsh and Seward, 1990). They provide a basis for developing larger, more diverse
SSBs that are more focused on complying with Shari'ah and corporate governance. The
results also have significant policy implications for improving firm-level
corporate governance versus improving country-level institutional factors. Both
views have their advocates. However, it is very difficult to reform the legal
system in a short time. Still, this study shows that struggling IBs have a way to
improve their corporate governance and simultaneously improve their financing
environment.
Originality/value - This research contributes to the literature on the effects
of SSBs on IBs' organizational financial performance, processes and roles. It is
the first to examine empirically the underpinnings of how SSBs affect
organizational financial performance via agency theory and contingency theory.
C1 [Almutairi, Ali R.] Kuwait Univ, Dept Accounting, Coll Business Adm, Accounting,
Kuwait, Kuwait.
[Quttainah, Majdi Anwar] Kuwait Univ, Coll Business Adm, Dept Management & Mkt,
Management, Kuwait, Kuwait.
RP Quttainah, MA (corresponding author), Kuwait Univ, Coll Business Adm, Dept
Management & Mkt, Management, Kuwait, Kuwait.
EM mquttainah@cba.edu.kw
NR 96
TC 10
Z9 10
U1 1
U2 28
PI BINGLEY
SN 1747-1117
EI 1758-857X
J9 SOC RESPONSIB J
JI Soc. Responsib. J.
PY 2017
VL 13
IS 3
BP 601
EP 624
DI 10.1108/SRJ-05-2016-0061
PG 24
WC Management
GA FD6FU
UT WOS:000407625200010
DA 2020-08-12
ER
PT J
AU Shinkafi, AA
Ali, NA
Choudhury, M
AF Shinkafi, Akilu Aliyu
Ali, Nor Aini
Choudhury, Masudul
TI Contemporary Islamic economic studies on Maqasid Shari'ah: a systematic
literature review
SO HUMANOMICS
LA English
DT Article
DE Finance; Banking; Economic development; Financing products; Islamic
economy; Maqasid Shari'ah
ID AL-SHARIAH; PERSPECTIVE; PERFORMANCE; MANAGEMENT; FINANCE
AB Purpose - The purpose of this paper is to come-up with a systematic exertion on
Maqasid Shari'ah in Islamic economics, banking and finance, with a clear focus on
forming an appropriate and novel framework that identifies the effort of
contemporary scholars and detects the existing gap that might possibly champion new
research commitments.
Design/methodology/approach - A systematic approach to literature review was
steered through the means propagated by the Centre for Reviews and Disseminations
(DSR), but modified to the precise requirements of this review. Google Scholar was
searched throughout the passage. The search criteria are confined to English
documents that are within the period of 2006-2016. Articles that did not score or
did not convince that the subject of Maqasid Shari'ah has been applied in Islamic
economy, Islamic banking, Islamic finance, Islamic financing products and economic
development are excluded. Appropriate search keys are used to gather better
results.
Findings - The findings inform that contemporary scholars show a robust
commitment to the themes of the result during the stated period. The outcome
reveals that contemporary scholars designate more interest and attention on Islamic
banking and expose their potential specialty in the expanse than other themes. The
study further highlighted the gap of some significant areas that are either outside
the coverage of the reviewed documents or require more attention from contemporary
scholars, for instance, wealth formation and management, wealth consumption,
socioeconomic security, risk management, corporate governance, management policy,
human resource development, prohibition of Riba, profit and loss sharing (PLS),
etc.
Research limitations/implications - The paper is limited to contemporary aspects
of Islamic economics, banking, finance and economic development that have a link
with the subject of Maqasid Shari'ah.
Practical implications - A review of these scholarly reported documents has the
potential to draw attention toward filling the existing gap that will likely result
in salvation of current issues on the subject of Maqasid Shari'ah that has a direct
association with Islamic economy, banking and finance.
Originality/value - The paper is original in its nature considering the fact
that it is assumed as the maiden attempt of its kind in the field. It is a treasure
to all those who may cherish and find it relevant in their progressive and rounded
convention or application on the matter.
C1 [Shinkafi, Akilu Aliyu; Ali, Nor Aini] Univ Malaya, Dept Shariah & Econ, Kuala
Lumpur, Malaysia.
[Choudhury, Masudul] Trisakti Univ, Jakarta, Indonesia.
RP Shinkafi, AA (corresponding author), Univ Malaya, Dept Shariah & Econ, Kuala
Lumpur, Malaysia.
EM aliyuakilu1@gmail.com
NR 75
TC 1
Z9 1
U1 4
U2 18
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2017
VL 33
IS 3
SI SI
BP 315
EP 334
DI 10.1108/H-03-2017-0041
PG 20
WC Economics
GA FE5JM
UT WOS:000408247800004
DA 2020-08-12
ER
PT J
AU Abdullah, R
Ismail, AG
AF Abdullah, Rose
Ismail, Abdul Ghafar
TI Taking stock of the waqf-based Islamic microfinance model
SO INTERNATIONAL JOURNAL OF SOCIAL ECONOMICS
LA English
DT Article
DE Islamic microfinance; Sustainable development; Social welfare economics
AB Purpose - The purpose of this paper is to explore two main aspects of waqf: the
characteristics of waqf property and the management of waqf. This paper also
discusses the governance of waqf management as a source of funds for Islamic
microfinance institutions (MFIs).
Design/methodology/approach - This research uses content analysis method to
examine various literatures that discuss the concept and management of waqf.
Findings - The characteristics of cash waqf such as permanence, irrevocability
and perpetuity differentiate waqf from other type of donations. Therefore, cash
waqf-based Islamic microfinance needs to be sustainable. Good corporate governance
is vital to ensure the sustainability. As the donors of cash waqf do not aim to
make financial profit, waqf-based Islamic MFIs will be able to provide low-cost
capital to the poor entrepreneurs. Furthermore, to ensure the perpetuity of the
waqf, it is suggested that only revenue from the waqf property should be used for
microfinance fund.
Social implications - The cash waqf-based Islamic microfinance will help the
micro entrepreneurs to get low-cost capital without collateral. At the same time,
public can donate any amount they afford to contribute to cash waqf.
Originality/value - The creation of a cash waqf-based Islamic MFI must observe
the issues of agency conflicts and the right of stakeholders to a transparent
management. This paper emphasizes the importance of good governance in managing the
waqf property as a source of fund for Islamic MFIs.
C1 [Abdullah, Rose] Univ Islam Sultan Sharif Ali, Fac Econ & Islamic Finance,
Bandar Seri Begawan, Brunei.
[Ismail, Abdul Ghafar] Univ Kebangsaan Malaysia, Sch Econ, Bangi, Malaysia.
RP Abdullah, R (corresponding author), Univ Islam Sultan Sharif Ali, Fac Econ &
Islamic Finance, Bandar Seri Begawan, Brunei.
EM mawarmaju@yahoo.com
RI Ismail, Abdul Ghafar/E-7190-2016
OI Ismail, Abdul Ghafar/0000-0003-2450-0168; Abdullah,
Rose/0000-0002-8655-3233
NR 32
TC 1
Z9 2
U1 0
U2 12
PI BINGLEY
SN 0306-8293
EI 1758-6712
J9 INT J SOC ECON
JI Int. J. Soc. Econ.
PY 2017
VL 44
IS 8
BP 1018
EP 1031
DI 10.1108/IJSE-06-2015-0176
PG 14
WC Economics
GA FA5JN
UT WOS:000405479400002
DA 2020-08-12
ER
PT J
AU Nawaz, T
AF Nawaz, Tasawar
TI Momentum investment strategies, corporate governance and firm
performance: an analysis of Islamic banks
LA English
DT Article
DE Market value; Governance mechanism; Agency theory; Ambidextrous
organisational resources; Islamic bank business model; Momentum
investment strategies
ID FINANCIAL CRISIS EVIDENCE; RESOURCE-BASED VIEW; BOARD STRUCTURE; AGENCY
COSTS; DIRECTORS; MODEL; INFORMATION; PERSPECTIVE; DISCLOSURE;
CAPABILITY
AB Purpose -The purpose of this paper is to empirically examine the effect of
investments in organisational resources and corporate governance features on
market-based performance of Islamic banks (IBs).
Design/methodology/approach -The required data to calculate different
constituents of banks' investment strategies and governance mechanism were hand
collected from 268 annual reports. Different regression models were used to
determine the impact of investment in human and structural capital and corporate
governance features on market performance of IBs.
Findings -The paper finds that investments in knowledge resources (human
capital, in particular) have a significantly positive impact on the market value of
IBs. The results further reveal that IBs' strategy to rely on long-term human
capital accumulation can be seen as idiosyncratic problem-solving knowledge
capital. Based on market measure, the paper finds role duality to have a
significant positive impact and the size of the advisory board to have the opposite
effect on market value.
Research limitations/implications -This study includes IBs only and ignores
other Islamic financial services providers such as Takaful (insurance) companies.
The study leaves this chasm to be filled by future researchers.
Practical implications -The findings may serve as a useful input for both
Islamic bankers and regulators to apply knowledge management in their institutions.
Furthermore, the dominant role of human capital also provides insight to managers
with respect to business performance levers.
Originality/value -The main contribution of this paper is to provide insight
into the Islamic banking business model using a unique hand-collected data set, to
identify the effect of investments in organisational resources and bank governance
on market value in before, during and after financial crisis.
C1 [Nawaz, Tasawar] Univ Plymouth, Dept Accounting & Finance, Plymouth, Devon,
England.
RP Nawaz, T (corresponding author), Univ Plymouth, Dept Accounting & Finance,
Plymouth, Devon, England.
EM tnawaz@plymouth.ac.uk
NR 110
TC 6
Z9 6
U1 1
U2 29
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2017
VL 17
IS 2
BP 192
EP 211
DI 10.1108/CG-03-2016-0052
PG 20
WC Business
GA ER8AH
UT WOS:000399036800002
DA 2020-08-12
ER
PT J
AU Mohammed, SASA
Muhammed, J
AF Mohammed, Sulaiman Abdullah Saif Al-Nasser
Muhammed, Joriah
TI The relationship between agency theory, stakeholder theory and Shariah
supervisory board in Islamic banking An attempt towards discussion
SO HUMANOMICS
LA English
DT Article
DE Corporate governance; Performance; Islamic banks; Islamic perspective;
Shariah supervisory board (SSB)
AB Purpose -In relation to the critical problem, this paper aims to present an
understanding of the agency theory and the stakeholder theory from the perspective
of the Islamic principles. Indeed, a thorough examination of the theoretical
background explaining corporate governance from the Islamic perspective is
necessary to conduct research analysing corporate governance in Islamic banks.
Design/methodology/approach -The authors followed a critical review discussion;
this method takes into consideration presenting important theories and comparing
those theories with Islamic perspective.
Findings -The authors presented important arguments on the difference between
ordinary theories to explaining corporate governance and Islamic perspective. The
paper browsed into whether the Shariah Supervisory Board is a fit with the agency
theory by explaining the agency theory and how it differs from the Islamic banking
concepts. The paper involved an analytical review on stakeholder theory and
presented a critique and the rationale as to why there is ample room for the
Shariah Supervisory Board to be considered a fit with the stakeholder theory, as
the Shariah Supervisory Board is an independent body influencing the firm.
Originality/value -The paper is of important value to those conducting research
in the area of governance in Islamic banks; they may find it beneficial in terms of
underlining theory building their research framework.
C1 [Mohammed, Sulaiman Abdullah Saif Al-Nasser] Univ Utara Malaysia, Dept Econ
Finance & Banking, Alor Setar, Malaysia.
[Muhammed, Joriah] Univ Sains Malaysia, Sch Management, Dept Finance, George
Town, Penang, Malaysia.
RP Mohammed, SASA (corresponding author), Univ Utara Malaysia, Dept Econ Finance &
Banking, Alor Setar, Malaysia.
EM sulaiman@uum.edu.my
RI Nasser, Sulaiman/H-6543-2011
NR 16
TC 2
Z9 2
U1 1
U2 10
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2017
VL 33
IS 1
BP 75
EP 83
DI 10.1108/H-08-2016-0062
PG 9
WC Economics
GA EO6WP
UT WOS:000396833500005
DA 2020-08-12
ER
PT J
AU Grassa, R
AF Grassa, Rihab
TI Corporate governance and credit rating in Islamic banks: Does Shariah
governance matters?
SO JOURNAL OF MANAGEMENT & GOVERNANCE
LA English
DT Article
DE Corporate governance; Credit rating; Shariah governance; Islamic banks;
GCC countries; Southeast Asia countries
ID INSTITUTIONAL INVESTORS; LARGE SHAREHOLDERS; FIRM PERFORMANCE; PRIVATE
BENEFITS; BOND RATINGS; BOARD; COMPENSATION; ASSOCIATION; INFORMATION;
INVESTMENT
AB We investigate whether Islamic banks with strong corporate governance benefit
from higher credit ratings relative to Islamic banks with weaker governance and
whether Shariah governance can affect the credit ratings of Islamic banks or not.
We document, after controlling for Islamic bank-specific risk characteristics, that
credit ratings are negatively associated with the number of blockholders, CEO
power, the supervisory role of the Shariah board and investment deposits; and
positively associated with share listing ownership, board independence, women
directors, board directors expertise and Shariah board expertise. As well as,
credit rating is higher for Southeast Asian Islamic banks and weaker for GCC
Islamic banks.
C1 [Grassa, Rihab] Univ Manouba, ISCAE, Manouba, Tunisia.
RP Grassa, R (corresponding author), Univ Manouba, ISCAE, Manouba, Tunisia.
NR 94
TC 18
Z9 18
U1 0
U2 9
PU SPRINGER
PI NEW YORK
PA ONE NEW YORK PLAZA, SUITE 4600, NEW YORK, NY, UNITED STATES
SN 1385-3457
EI 1572-963X
J9 J MANAG GOV
JI J. Manag. Gov.
PD DEC
PY 2016
VL 20
IS 4
BP 875
EP 906
DI 10.1007/s10997-015-9322-4
PG 32
WC Management
GA FE6UP
UT WOS:000408344700009
DA 2020-08-12
ER
PT J
AU Erragragui, E
Revelli, C
AF Erragragui, Elias
Revelli, Christophe
TI Is it costly to be both shariah compliant and socially responsible?
SO REVIEW OF FINANCIAL ECONOMICS
LA English
DT Article
DE Islamic investment; Environmental, social and governance (ESG)
performance; Investment decision; Portfolio choice
ID MUTUAL FUND PERFORMANCE; FINANCIAL PERFORMANCE; CORPORATE GOVERNANCE;
STOCK RETURNS; ETHICS; RISK
AB Positive ethics associated with socially responsible investments (SRI) is
challenging the limits of Islamic investments' conservative approach to promote
corporate social responsibility. In this study, we test the integration of social
performance measures (companies the most virtuous or high-rated in terms of
environmental, social, and governance (ESG) issues) in Islamic portfolios using KLD
social ratings. We seek to determine the financial price of complying both to
Islamic investment and SRI principles. To do so, we measure the financial
performance of self-composed Islamic portfolios with varying ESG scores. The
results indicate no adverse effects on returns due to the application of ESG
screens on shariah-compliant stocks during the 2007-2011 periods while reporting
substantially higher performance for the portfolios with good records in
governance, products, diversity, and environment issues. On the opposite, a
negative performance is associated with an SRI strategy of disengagement from
shariah-compliant stocks with community and human rights controversies. Our
performance measures are controlled for market sensitivity, investment style,
momentum factor, and sector exposure. (C) 2016 Elsevier Inc. All rights reserved.
C1 [Erragragui, Elias; Revelli, Christophe] Kedge Business Sch, Rue Antoine
Bourdelle Domaine de Luminy,BP 921, F-13288 Marseille 9, France.
RP Erragragui, E (corresponding author), Kedge Business Sch, Rue Antoine Bourdelle
Domaine de Luminy,BP 921, F-13288 Marseille 9, France.
EM elias.erragragui@kedgebs.com; christophe.revelli@kedgebs.com
NR 60
TC 3
Z9 3
U1 3
U2 19
PU WILEY
PI HOBOKEN
SN 1058-3300
EI 1873-5924
J9 REV FINANC ECON
JI Rev. Financ. Econ.
PD NOV
PY 2016
VL 31
SI SI
BP 64
EP 74
DI 10.1016/j.rfe.2016.08.003
PG 11
GA EF5AG
UT WOS:000390342500008
DA 2020-08-12
ER
PT J
AU Ali, M
Azmi, W
AF Ali, Mohsin
Azmi, Wajahat
TI Religion in the boardroom and its impact on Islamic banks' performance
SO REVIEW OF FINANCIAL ECONOMICS
LA English
DT Article
DE Board diversity; Corporate governance; Islamic banks; Performance;
Religion
ID EFFICIENCY; GENDER; EQUITY; MARKET
AB The impact of board diversity, in terms of gender, race, ethnicity etc., on
performance and stability of firms has been researched extensively. However, the
impact of religious diversity and its impact on performance and stability has been
completely ignored. This issue is quite relevant, especially for the Islamic banks
because of their primary objective i.e. to be in compliant with Islamic principles
in all their dealings. Taking a cue from this argument, we believe if the majority
board members are Muslim it can have a positive impact on the performance as they
would better understand the importance of the substance of the shari'ah compliant
dealings and that can translate into good performance and make it more stable.
Based on our arguments, we examined the impact of religious diversity on the
performance and stability on Malaysian banks Islamic and Conventional both for the
period of 9 years, through 2005 to 2013. Our results from GMM estimation reveal
that the religious orientation has no impact on the performance and this result is
robust to various proxies. Our results imply that a non-Muslim member of the board
of directors is able to run the Islamic banking business as good as a Muslim board
member. (C) 2016 Elsevier Inc. All rights reserved.
C1 [Ali, Mohsin; Azmi, Wajahat] INCEIF, Kuala Lumpur, Malaysia.
RP Ali, M (corresponding author), INCEIF, Kuala Lumpur, Malaysia.
EM mohsin.ali121@gmail.com; wajahat_azmi@yahoo.com
OI Ali, Mohsin/0000-0002-7407-6513
NR 34
TC 4
Z9 4
U1 0
U2 14
PU WILEY
PI HOBOKEN
SN 1058-3300
EI 1873-5924
J9 REV FINANC ECON
JI Rev. Financ. Econ.
PD NOV
PY 2016
VL 31
SI SI
BP 83
EP 88
DI 10.1016/j.rfe.2016.08.001
PG 6
GA EF5AG
UT WOS:000390342500010
DA 2020-08-12
ER
PT J
AU Athari, SA
Adaoglu, C
Bektas, E
AF Athari, Seyed Alireza
Adaoglu, Cahit
Bektas, Eralp
TI Investor protection and dividend policy: The case of Islamic and
conventional banks
SO EMERGING MARKETS REVIEW
LA English
DT Article
DE Dividend policy; Agency theory; Outcome; Substitute; Islamic banks;
Conventional banks
ID CORPORATE GOVERNANCE; OWNERSHIP; DETERMINANTS; SHAREHOLDERS;
PERFORMANCE; LAW
AB This study examines the dividend policy behavior of. Islamic and conventional
banks operating in Arab markets. These banks operate in an environment of Sharia
law and low levels of investor protection. Our results support the substitution
agency model of dividends for Islamic banks, and Islamic banks use the dividend
policy as a substitute mechanism for alleviating relatively more significant agency
problems and higher risks of expropriation by insiders. In these markets,
conventional banks operate in a more competitive environment and experience
relatively less significant agency problems. In contrast to Islamic banks,
conventional banks follow the outcome agency model of dividends. (C) 2016 Elsevier
B.V. All rights reserved.
C1 [Athari, Seyed Alireza; Adaoglu, Cahit; Bektas, Eralp] Eastern Mediterranean
Univ, Fac Business & Econ, Dept Banking & Finance, Via Mersin 10, Famagusta, North
Cyprus, Turkey.
RP Athari, SA (corresponding author), Eastern Mediterranean Univ, Fac Business &
Econ, Dept Banking & Finance, Via Mersin 10, Famagusta, North Cyprus, Turkey.
EM alireza.athari@emu.edu.tr
RI Adaoglu, Cahit/R-1795-2019; Athari, Seyed Alireza/O-6004-2019
OI Adaoglu, Cahit/0000-0001-5771-9997; Athari, Seyed
Alireza/0000-0003-4918-1597
NR 61
TC 12
Z9 12
U1 0
U2 19
PU ELSEVIER
PI AMSTERDAM
SN 1566-0141
EI 1873-6173
J9 EMERG MARK REV
JI Emerg. Mark. Rev.
PD JUN
PY 2016
VL 27
BP 100
EP 117
DI 10.1016/j.ememar.2016.04.001
PG 18
GA DQ9UY
UT WOS:000379556000006
DA 2020-08-12
ER
PT J
AU Linnenluecke, MK
Chen, XY
Ling, X
Smith, T
Zhu, YS
AF Linnenluecke, Martina K.
Chen, Xiaoyan
Ling, Xin
Smith, Tom
Zhu, Yushu
TI Emerging trends in Asia-Pacific finance research: A review of recent
influential publications and a research agenda
LA English
DT Article
DE Finance research; Asia-Pacific; Review; Research agenda; Research
trends; Environmental finance
ID STOCK RETURNS EVIDENCE; ACCOUNTING CONSERVATISM; CORPORATE GOVERNANCE;
SCHOLARLY NETWORKS; CAPITAL STRUCTURE; HUMAN DIMENSIONS; CRISIS
EVIDENCE; ISLAMIC BANKS; DEFAULT RISK; ASSET GROWTH
AB This paper presents a systematic review of 73 influential publications among 667
journal articles published in the in the Asia-Pacific finance literature from 2011
to 2015. We map how the top 73 publications are related in terms of their citation
relationships and identify eight different research fields, or lines of enquiry:
(1) Corporate Finance, (2) Asset Pricing, (3) Conditional Asset Pricing, (4)
Research on Anomalies, (5) Market Microstructure Research, (6) Factor Models, as
well as two novel research streams, (7) Research Process and (8) Research on
Frontiers in Finance. Focusing on the research frontiers in finance, our paper
identifies emerging research trends and pathways for future research in the
following areas: (1) Environmental Finance, (2) Modern Markets, (3) Behavioural
Finance, (4) Qualitative Methods, and (5) Equity and Diversity. We highlight
possible pathways for researchers to build on existing knowledge and pursue
opportunities for innovative and exciting new research contributing to an expansion
of the research frontiers. (C) 2015 Elsevier B.V. All rights reserved.
C1 [Linnenluecke, Martina K.; Ling, Xin; Smith, Tom; Zhu, Yushu] Univ Queensland,
UQ Business Sch, St Lucia, Qld 4072, Australia.
[Chen, Xiaoyan] RMIT Univ, Coll Business, Melbourne, Vic, Australia.
RP Linnenluecke, MK (corresponding author), Univ Queensland, UQ Business Sch, St
Lucia, Qld 4072, Australia.
EM m.linnenluecke@business.uq.edu.au; carolinexychen@gmail.com;
x.ling@business.uq.edu.au; t.smith@business.uq.edu.au;
e.zhu@business.uq.edu.au
RI Chen, Xiaoyan/H-3319-2016; Linnenluecke, Martina/J-7237-2013
OI Linnenluecke, Martina/0000-0001-7984-9717; Smith,
Tom/0000-0002-1881-9570; Chen, Xiaoyan/0000-0002-5564-3412
FU Australian Research Council (ARC)Australian Research Council
[DP160103425]
FX Two of the authors (Linnenluecke and Smith) would like to acknowledge
funding from the Australian Research Council (ARC), Grant Number
DP160103425.
NR 146
TC 21
Z9 21
U1 2
U2 43
PU ELSEVIER
PI AMSTERDAM
SN 0927-538X
EI 1879-0585
PD FEB
PY 2016
VL 36
BP 66
EP 76
DI 10.1016/j.pacfin.2015.12.002
PG 11
GA DF1MK
UT WOS:000371103700005
DA 2020-08-12
ER
PT B
BE Muhammad, M
Ahmed, MU
TI DEVELOPMENT OF THE ISLAMIC FINANCIAL SYSTEM
SO ISLAMIC FINANCIAL SYSTEM: PRINCIPLES & OPERATIONS, 2ND EDITION
LA English
DT Article; Book Chapter
AB This chapter examines how Islamic finance has evolved over time. It
systematically traces its emergence over the years from the period of Prophet
Muhammad (SAW) till the modern day. The chapter also discusses the various models
of Islamic finance that have been adopted and implemented in some countries. It is
also underscored in this chapter that in order to develop a comprehensive Islamic
financial system, there is a need to examine the prerequisites in developing a
vibrant system.
The chapter also discusses the supervisory, regulatory and legal dimensions to
the development of Islamic financial markets. It also uncovers the importance of
the development of the financial infrastructure as well as institutional
development. This covers discussions on the appropriate regulatory and supervisory
framework, corporate governance, transparency and disclosure of information, risk
management and the Shariah framework among others. Since the development of
interrelated financial markets has an important role in contributing towards
stability in the financial system, this chapter elucidates how the development of a
comprehensive Islamic financial system could aid the achievement of such a goal.
NR 10
TC 0
Z9 0
U1 0
U2 0
PU INT SHARIAH RESEARCH ACAD ISLAMIC FINANCE-ISRA
PI KUALA LUMPUR
PA LORONG UNIVERSITI A, KUALA LUMPUR, 59100, MALAYSIA
BN 978-967-12220-1-0; 978-967-12220-6-5
PY 2016
BP 111
EP 146
PG 36
GA BH5OA
UT WOS:000401261700007
DA 2020-08-12
ER
PT B
BE Muhammad, M
Ahmed, MU
TI CORPORATE AND SHARI'AH GOVERNANCE IN ISLAMIC FINANCIAL INSTITUTIONS
SO ISLAMIC FINANCIAL SYSTEM: PRINCIPLES & OPERATIONS, 2ND EDITION
LA English
ID PERSPECTIVE; BANKS
AB Corporate and Shari'ah governance are among the most important topics in Islamic
finance. Good corporate governance, especially within an Islamic paradigm, is
imperative as it tends to encourage honesty, integrity, transparency,
accountability and responsibility amongst all stakeholders in an organisation.
Wherein, Shari'ah governance is the very essence of Islamic finance. In building
and maintaining the confidence of the shareholders and other stakeholders it is
crucial to ensure that all transactions, practices and activities of any IFIs are
in compliance with the Shari'ah principles. Realising the importance of this
subject within the context of the IFIs, this chapter aims to provide the necessary
information on corporate and Shari'ah governance by discussing the relevant
theories and practices. In particular, this chapter examines the key elements of
corporate and Shari'ah governance, and highlights different models of corporate and
Shari'ah governance of the IFIs in various jurisdictions. The chapter also
discusses the issues and challenges faced by the IFIs pertaining to corporate and
Shari'ah governance.
NR 79
TC 0
Z9 0
U1 0
U2 0
PI KUALA LUMPUR
BN 978-967-12220-1-0; 978-967-12220-6-5
PY 2016
BP 703
EP 759
PG 57
GA BH5OA
UT WOS:000401261700019
DA 2020-08-12
ER
PT J
AU Sonfield, MC
Lussier, RN
Fahed-Sreih, J
AF Sonfield, Matthew C.
Lussier, Robert N.
Fahed-Sreih, Josiane
TI American versus Arab/Islamic family businesses The use of
non-family-member higher-level managers
SO JOURNAL OF ENTREPRENEURSHIP IN EMERGING ECONOMIES
LA English
DT Article
DE Family business; Arab; Islamic; Non-family-member managers;
Family-member managers
ID COMPETITIVE ADVANTAGE; CORPORATE GOVERNANCE; BEHAVIORAL DYNAMICS; FIRMS;
NONFAMILY; AGENCY; ENTREPRENEURSHIP; PERFORMANCE; OWNERSHIP; CULTURE
AB Purpose - The purpose of this research was to compare the use of non-family-
members in the higher-level management team of Arab/Islamic family businesses
versus American family businesses.
Design/methodology/approach - This research gathered survey data and tested the
hypothesis using analysis of covariance.
Findings - American family businesses engaged the services of non-family-member
managers to a statistically significant greater degree than did Arab/Islamic family
businesses.
Originality/value - The research literature on Arab/Islamic entrepreneurship is
very limited, and a family business study of this nature has not been previously
conducted. This study furthermore challenges the common assumption that the
findings generated in one specific country can usually be generalized to the
broader phenomenon of family business, as it exists in most countries.
C1 [Sonfield, Matthew C.] Hofstra Univ, Zarb Sch Business, Hempstead, NY 11550 USA.
[Lussier, Robert N.] Springfield Coll, Dept Management, Springfield, MA USA.
[Fahed-Sreih, Josiane] Lebanese Amer Univ, Beirut, Lebanon.
RP Sonfield, MC (corresponding author), Hofstra Univ, Zarb Sch Business, Hempstead,
NY 11550 USA.
EM Matthew.Sonfield@Hofstra.edu
RI Fahed-Sreih, Josiane/AAE-2330-2020
OI Fahed-Sreih, Josiane/0000-0002-4214-4307
NR 125
TC 2
Z9 2
U1 1
U2 3
PI BINGLEY
SN 2053-4604
EI 2053-4612
J9 J ENTREP EMERG ECON
JI J. Entrep. Emerg. Econ.
PY 2016
VL 8
IS 1
BP 2
EP 24
DI 10.1108/JEEE-02-2015-0014
PG 23
WC Business
GA FK0ZN
UT WOS:000413209400001
DA 2020-08-12
ER
PT J
AU Grassa, R
AF Grassa, Rihab
TI Ownership structure, deposits structure, income structure and insolvency
risk in GCC Islamic banks
LA English
DT Article
DE Ownership concentration; Corporate governance; Insolvency risk; Deposits
structure; GCC Islamic banks; Income structure
ID DIVERSIFICATION; GOVERNANCE
AB Purpose -This paper aims to examine the effect of the concentration of ownership
concentration and the deposits structure on the link between income structure and
insolvency risk in Islamic banks operating in Gulf Cooperation Council (GCC)
countries.
Design/methodology/approach -Using data for 43 GCC Islamic banks over the period
from 2005 to 2012, this paper specifies a three-stage least-squares model in which
the impact of the concentration of ownership concentration and the deposits
structure on income diversification and insolvency risk is jointly analyzed to
address the problem of endogeneity.
Findings -The findings show that the income structure influences the insolvency
risk in Islamic banks with a concentrated ownership structure. This is because the
deposits structure and large shareholders influence strategic decisions.
Research limitations/implications -This paper is, also, subject to a number of
limitations. First, this study focuses exclusively on the GCC context and excludes
the other Middle East and Far East countries. Second, the paper does not take into
consideration banking regulation. Practical implications -The paper findings shed
light on the ongoing debate about the benefits of revenue diversification and also
provide valuable insights for market participants, regulators and supervisors about
what drives performance in Islamic banks. Originality/value -The paper fills the
gap in the existing literature on insolvency risk in Islamic banks. It is expected
to provide useful information for policy makers and Islamic bankers to develop a
sound Islamic banking industry in the GCC region. In addition, the link identified
between ownership concentration, deposits structure and revenue diversification is
a novel way of analyzing the impact of the latter on insolvency risk in Islamic
banks.
C1 [Grassa, Rihab] Univ Manouba, ISCAE, Manouba, Tunisia.
RP Grassa, R (corresponding author), Univ Manouba, ISCAE, Manouba, Tunisia.
NR 37
TC 2
Z9 2
U1 0
U2 5
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2016
VL 7
IS 2
BP 93
EP 111
DI 10.1108/JIABR-11-2013-0041
PG 19
GA ER2ZY
UT WOS:000398665100002
DA 2020-08-12
ER
PT J
AU Farooq, O
Alahkam, A
AF Farooq, Omar
Alahkam, Amal
TI Performance of shariah-compliant firms and non-shariah-compliant firms
in the MENA region Which is better?
LA English
DT Article
DE Firm performance; Emerging markets; Islamic finance; Shariah-compliance
ID CORPORATE GOVERNANCE; CASH RESERVES; AGENCY COSTS; SPIRITUALITY; IMPACT
AB Purpose - This paper aims to document the relative performance of non-financial
shariah-compliant firms and non-financial non-shariah-compliant firms in the MENA (
Morocco, Egypt, Saudi Arabia, United Arab Emirates, Jordan, Kuwait and Bahrain)
region during the period between 2005 and 2009.
Design/methodology/approach -This paper uses pooled ordinary least squares
regression analysis to document the effect of shariah compliance on stock price
performance in the MENA region on a sample of non-financial firms that consists of
shariah-and non-shariah-compliant firms.
Findings -Using market-adjusted returns as a proxy for performance, this paper
shows that shariah-compliant firms underperform non-shariah-compliant firms. The
results also show that underperformance of shariah-compliant firms holds in the
civil law and in the common law countries. Interestingly, this paper also shows
that difference between the performance of shariah-and non-shariah-compliant firms
disappears during the crisis period.
Research limitations/implications -This paper argues that the characteristics of
shariah-compliant firms are such that these firms are at a disadvantage relative to
their non-shariah-compliant counterparts. For example, high leverage of their
counterpart firms can act as a disciplining mechanism and positively affect
performance of these firms. Similarly, high account receivables and high cash allow
non-shariah-compliant firms to make more effective business networks than shariah-
compliant firms and fund large capital expenditures. Consequently, shariah-
compliant firms underperform non-shariah-compliant firms. This study's results,
however, should be read with caution, as they are mainly based upon the performance
of large volume, statistical significance, sampling errors and possible labeling
miss-specification. Further research on this topic with different research
methodology is essential.
Originality/value -This paper takes a financial view rather than religious view
while highlighting the impact of shariah characteristics on firm performance.
C1 [Farooq, Omar] Amer Univ Cairo, Dept Management, Cairo, Egypt.
[Alahkam, Amal] Al Akawayn Univ Ifrane, Sch Business Adm, Ifrane, Morocco.
RP Farooq, O (corresponding author), Amer Univ Cairo, Dept Management, Cairo,
Egypt.
EM omar.farooq.awan@gmail.com
RI Farooq, Omar/AAG-9589-2020; Farooq, Omar/E-8096-2010
OI Farooq, Omar/0000-0002-4399-1073; Farooq, Omar/0000-0002-4648-2733
NR 29
TC 5
Z9 5
U1 0
U2 7
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2016
VL 7
IS 4
BP 268
EP 281
DI 10.1108/JIABR-10-2013-0039
PG 14
GA ER2ZZ
UT WOS:000398665200002
DA 2020-08-12
ER
PT J
AU Mersni, H
Ben Othman, H
AF Mersni, Hounaida
Ben Othman, Hakim
TI The impact of corporate governance mechanisms on earnings management in
Islamic banks in the Middle East region
LA English
DT Article
DE Earnings management; Islamic banks; Discretionary loan loss provisions;
Corporate governance
ID AUDIT COMMITTEE CHARACTERISTICS; LOAN LOSS PROVISIONS; OWNERSHIP
STRUCTURE; LARGE SHAREHOLDERS; FIRM PERFORMANCE; AGENCY PROBLEMS; CEO
DUALITY; BOARD; DIRECTORS; DETERMINANTS
AB Purpose - The purpose of this paper is to examine whether corporate governance
mechanisms affect the reporting of loan loss provisions by managers in Islamic
banks in the Middle East region.
Design/methodology/approach -This empirical study uses balanced panel data from
20 Islamic banks, from seven Middle East countries for the period 2007 to 2011. The
regression model is estimated using random effects specifications.
Findings -The empirical results show that discretionary loan loss provisions
(DLLP) are negatively related to board size and the existence of an audit
committee. Results also report a positive relationship between sharia board size
and DLLP. This indicates that small sharia supervisory boards are more effective
than larger ones, which could be due to the higher costs and negative effects of
large groups on decision-making. Results also highlight that the existence of
scholars with accounting knowledge sitting on the sharia board reduces
discretionary behavior. Additional results provide evidence that an external sharia
audit committee is also found to reduce discretion in Islamic banks. The
conclusions are found to be robust to endogeneity issues and potentially omitted
variables.
Practical implications -The findings are potentially useful for regulators and
shareholders. Regulators could use the findings to focus on corporate governance
mechanisms that restrain earnings management practices in Islamic banks and
implement regulations to strengthen them. Additionally, this study gives
shareholders further insight which enables them to better monitor the actions of
managers and thus increase their control over their investments.
Originality/value -This study provides two contributions to the literature on
Islamic banking. First, to the authors' knowledge, this study is only the second
piece of research focused on the impact of corporate governance on earnings
management in Islamic banks. Second, the authors have examined the effect of some
new corporate governance mechanisms that have not been studied previously in the
research literature.
C1 [Mersni, Hounaida; Ben Othman, Hakim] Univ Tunis, Tunis Business Sch, El
Mourouj, Tunisia.
[Mersni, Hounaida; Ben Othman, Hakim] Univ Manouba, ISCAE, Ligue, Manouba,
Tunisia.
RP Mersni, H (corresponding author), Univ Tunis, Tunis Business Sch, El Mourouj,
Tunisia.; Mersni, H (corresponding author), Univ Manouba, ISCAE, Ligue, Manouba,
Tunisia.
EM h.mersni@planet.tn
RI Othman, Hakim Ben/F-3287-2012
OI Othman, Hakim Ben/0000-0003-4353-7142
NR 123
TC 9
Z9 9
U1 0
U2 6
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2016
VL 7
IS 4
BP 318
EP 348
DI 10.1108/JIABR-11-2014-0039
PG 31
GA ER2ZZ
UT WOS:000398665200005
DA 2020-08-12
ER
PT J
AU Kusuma, H
Ayumardani, A
AF Kusuma, H.
Ayumardani, A.
TI THE CORPORATE GOVERNANCE EFFICIENCY AND ISLAMIC BANK PERFORMANCE : AN
INDONESIAN EVIDENCE
SO POLISH JOURNAL OF MANAGEMENT STUDIES
LA English
DT Article
DE corporate governance; efficiency; bank's performance; Islamic Banks
AB The objective of this study is to investigate the effect of the corporate
governance efficiency consisting of variables board director's size, board
commissioner's size and sharia supervisory board's size on the Islamic bank
performance in Indonesia. The study of the corporate governance structure in the
banking sector is an important component within the enhancement of banks'
efficiency and performance. Using purposive sampling, 11 Islamic banks were
selected as the sample for the period of the year 2010 to 2014. The data were from
the financial statements and annual reports of the Islamic banks. The measurement
of the corporate governance efficiency employed the Data Envelopment Analysis with
the help of the EMS software. Regression using panel data were employed to analyze
the relationship between the efficiency and bank's performance. The findings show
that the efficiency level of corporate governance of Indonesian Islamic banks
improved significantly during the period of research. In addition, the corporate
governance efficiency significantly corelated to the Islamic bank performance. The
study results draw some implications for policy that helps to improve performance
of the banking sector.
C1 [Kusuma, H.; Ayumardani, A.] Islamic Univ Indonesia, Dept Accounting, Kabupaten
Sleman, Daerah Istimewa, Indonesia.
RP Kusuma, H (corresponding author), Islamic Univ Indonesia, Dept Accounting,
Kabupaten Sleman, Daerah Istimewa, Indonesia.
EM 883120104@uii.ac.id; ariza.zahra@gmail.com
RI Kusuma, Hadri/AAS-2629-2020
OI Kusuma, Hadri/0000-0002-0224-686X
NR 27
TC 8
Z9 8
U1 0
U2 8
PU CZESTOCHOWA UNIV TECHNOLOGY
PI CZESTOCHOWA
PA FAC MANAGEMENT, UL ARMII KRAJOWEJ 19B, CZESTOCHOWA, 42-201, POLAND
SN 2081-7452
J9 POL J MANAG STUD
JI Pol. J. Manag. Stud.
PY 2016
VL 13
IS 1
BP 111
EP 120
DI 10.17512/pjms.2016.13.1.11
PG 10
WC Management
GA EL7KA
UT WOS:000394798500011
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Di Bella, V
Al-Fayoumi, N
AF Di Bella, Venere
Al-Fayoumi, Nedal
TI Perception of stakeholders on corporate social responsibility of Islamic
Banks in Jordan
SO EUROMED JOURNAL OF BUSINESS
LA English
DT Article
DE Stakeholders; ANOVA; Corporate Social Responsibility; Islamic Banks
ID FINANCIAL INSTITUTIONS; PERFORMANCE
AB Purpose - The purpose of this paper is to explore the various perceptions of
stakeholders on corporate social responsibility (CSR) of Islamic Banks in Jordan.
Design/methodology/approach - The data are collected from multiple stakeholder
groups of two Islamic Banks in particular: Jordan Islamic Bank for Finance and
Investment and Islamic International Arab Bank. The methods adopted to examine the
data are the descriptive analysis and analysis of variance. With regard to the
purpose of this research, the concept of Islamic CSR and its dimensions have been
considered as: rooted in the Islamic ethical system, represented through the profit
and loss arrangements, embedded within the principles behind financial services
provided by Islamic Banks, and benchmarked by the Accounting and Auditing
Organization of Islamic Financial Institutions' (AAOIFI) corporate governance
standard.
Findings - The results indicate that stakeholders have expressed a positive
attitude toward the concept of CSR. Proving that the issue of CSR is an important
factor in Islamic banking and to the perception of various stakeholders' groups,
the focus shifted into identifying the dimensions which shape the Islamic CSR. In
reference to previous research results, the Islamic banking sector in Jordan has an
in-built dimension that promotes social responsibility.
Practical implications - The study recommends that Islamic Banks improve CSR
activities in order to better exploit this commitment with a cultural identity yet
again. This identity has a direct influence on the branding of Islamic finance in
local markets. The structure of offered products reflects regional beliefs and
provides a suite of services. In terms of services, the services provided are
geared toward specific market segments within local communities. This as a result
directs a number of strategic decisionsmade by Islamic Banks, which are based on
the structure of their offerings, brand identity and customer service levels.
Originality/value - In Jordan, studies about the perception of stakeholders on
CSR from an Islamic perspective are almost non-existent. Thus, providing solutions
for study questions and presenting empirical evidence regarding CSR issues will
certainly add a new dimension to the literature. Moreover, the conclusions and
recommendations may help regulators and decision makers in enhancing the
competitiveness and the sustainability of the Islamic banking sector in Jordan.
C1 [Di Bella, Venere] Europe Arab Bank, Milan, Italy.
[Al-Fayoumi, Nedal] Qatar Univ, Dept Finance & Econ, Doha, Qatar.
RP Al-Fayoumi, N (corresponding author), Qatar Univ, Dept Finance & Econ, Doha,
Qatar.
EM nedal.alfayoumi@qu.edu.qa
NR 45
TC 13
Z9 13
U1 1
U2 16
PI BINGLEY
SN 1450-2194
EI 1758-888X
J9 EUROMED J BUS
JI EuroMed J. Bus.
PY 2016
VL 11
IS 1
BP 30
EP 56
DI 10.1108/EMJB-01-2015-0003
PG 27
WC Business
GA EE1MI
UT WOS:000389345700002
DA 2020-08-12
ER
PT J
AU AlShattarat, WK
Atmeh, MA
AF AlShattarat, Wasim K.
Atmeh, Muhannad A.
TI Profit-sharing investment accounts in islamic banks or mutualization,
accounting perspective
LA English
DT Article
DE Islamic accounting; Banking; Financial reporting; Mudarabah; AAOIFI
AB Purpose - Islamic banks use Mudarabah contract to replace the interest-bearing
deposits with profit-sharing investment accounts. The purpose of this paper is to
explore the challenges and problems associated with the employment of Mudarabah
contract by Islamic banks.
Design/methodology/approach - The study critically analyzes the Mudarabah
contract used by Islamic banks. It reviews the evolution of the contract from its
traditional type to more complicated types such as compound, unrestricted,
commingled and continuous Mudarabah. The paper investigates the problems that have
emerged from implementing such types in current business settings.
Findings - The paper proves that implementing the Mudarabah contract by banks
imposes several problems among which are the following: difficulty in the
determination of total profit resulting from Mudarabah and in allocating this
profit to the multiple parties involved in Mudarabah; usage of reserves to cater
against future losses may undermine the concept of Mudarabah profit-loss sharing
and lead to earnings management; corporate governance is also a major problem in
Mudarabah contract, as the depositors are exposed to risks but have no governance
rights; and Mudarabah may also lessen the fair presentation of financial reporting.
Research limitations/implications - The paper examines the evolving Mudarabah
contract and its implementation challenges, based on available literature (no
empirical analysis was conducted).
Practical implications - The implications are significant for the future
development of Islamic contracts and Islamic accounting treatments.
Originality/value - Many studies explored the Mudarabah contract from a Shariah
or law perspective. However, this paper investigates the Mudarabah contract with a
focus on the implication on accounting and financial reporting because of the lack
of studies in this area. Furthermore, it demonstrates the persistent flaws in the
Mudarabah contract, and it proposes a new model for mobilizing funds, i.e. mutual
fund.
C1 [AlShattarat, Wasim K.] Gulf Univ Sci & Technol, Dept Accounting, Kuwait,
Kuwait.
[Atmeh, Muhannad A.] German Jordanian Univ, Tala Abu Ghazaleh Grad Sch Business,
Amman, Jordan.
RP AlShattarat, WK (corresponding author), Gulf Univ Sci & Technol, Dept
Accounting, Kuwait, Kuwait.
EM shattarat.w@gust.edu.kw
RI atmeh, muhannad a/B-6757-2015
NR 23
TC 3
Z9 3
U1 0
U2 7
PI BINGLEY
SN 1985-2517
EI 2042-5856
PY 2016
VL 14
IS 1
BP 30
EP 48
DI 10.1108/JFRA-07-2014-0056
PG 19
GA ED6PH
UT WOS:000388977200002
DA 2020-08-12
ER
PT B
AU Shamim, F
AF Shamim, Farkhanda
BE Otsubo, ST
TI ISLAMIC FINANCE An alternative paradigm in development finance
SO GLOBALIZATION AND DEVELOPMENT, VOL III: IN SEARCH OF A NEW DEVELOPMENT
PARADIGM
LA English
ID CORPORATE GOVERNANCE; BANKING; GROWTH
C1 [Shamim, Farkhanda] Univ Bahrain, Coll Business Adm, Dept Econ & Finance, Saar,
Bahrain.
RP Shamim, F (corresponding author), Univ Bahrain, Coll Business Adm, Dept Econ &
Finance, Saar, Bahrain.
NR 88
TC 0
Z9 0
U1 0
U2 0
PU ROUTLEDGE
PI ABINGDON
PA 2 PARK SQ, MILTON PARK, ABINGDON OX14 4RN, OXFORD, ENGLAND
BN 978-1-138-93227-2; 978-1-315-67834-4; 978-1-138-93226-5
PY 2016
BP 164
EP 193
PG 30
WC Economics; Regional & Urban Planning
SC Business & Economics; Public Administration
GA BF7ON
UT WOS:000384305100008
DA 2020-08-12
ER
PT B
AU Ben Bouheni, F
Ammi, C
Levy, A
AF Ben Bouheni, Faten
Ammi, Chantal
Levy, Aldo
BA BenBouheni, F
Ammi, C
Levy, A
BF BenBouheni, F
Ammi, C
Levy, A
TI Mechanisms of Corporate Governance, Banking Governance and Islamic
Banking Governance
SO BANKING GOVERNANCE, PERFORMANCE AND RISK-TAKING: CONVENTIONAL BANKS VS
ISLAMIC BANKS
LA English
NR 0
TC 1
Z9 1
U1 0
U2 0
PU ISTE LTD
PI LONDON
PA 27-37 ST GEORGES RD, 3RD FLR, TUITION HOUSE, LONDON, SW19 4EU, ENGLAND
BN 978-1-119-36148-0; 978-1-78630-082-9
PY 2016
BP 89
EP 113
D2 10.1002/9781119361480
PG 25
GA BM2TH
UT WOS:000461458400006
DA 2020-08-12
ER
PT J
AU Kamarudin, F
Sufian, F
Nassir, AM
AF Kamarudin, Fakarudin
Sufian, Fadzlan
Nassir, Annuar Md.
TI Does country governance foster revenue efficiency of Islamic and
conventional banks in GCC countries?
SO EUROMED JOURNAL OF BUSINESS
LA English
DT Article
DE Data envelopment analysis; Revenue efficiency; Country governance; Gulf
Cooperation Council countries
ID CORPORATE GOVERNANCE; FINANCIAL INSTITUTIONS; EMPIRICAL-EVIDENCE;
EUROPEAN BANKING; PROFIT EFFICIENCY; MARKET-STRUCTURE; PANEL-DATA;
PRODUCTIVITY; PERFORMANCE; COMPETITION
AB Purpose - The purpose of this paper is to provide new empirical evidence on the
impact of country governance on the revenue efficiency of Islamic and conventional
banks. The empirical analysis is confined to Islamic and conventional banks
operating in the Gulf Cooperation Council (GCC) countries banking sectors during
the period of 2007-2011.
Design/methodology/approach - The analysis comprises two main stages. In the
first stage, the authors employ the data envelopment analysis (DEA) method to
compute the revenue efficiency of Islamic and conventional banks. The authors then
used the multivariate panel regression analysis with the ordinary least square and
generalized method of moments as an estimation method to investigate the potential
determinants and the effect of country governance on the revenue efficiency.
Findings - The empirical findings indicate that greater voice and
accountability, government effectiveness, and rule of law enhance the revenue
efficiency of both Islamic and conventional banks. The authors find that regulatory
quality exerts positive influence on Islamic banks, while the impact of political
stability and control of corruption enhances the revenue efficiency of conventional
banks.
Originality/value - The study on the specific revenue efficiency concept of
Islamic and conventional banking is still in its formative stage. In regards,
majority of the studies that examined the effect of governance on bank efficiency
have focused more on the corporate or bank governance that affects the governance
within the institution. Thus, to the best of the knowledge, no study has been done
to address the effect of country governance on the revenue efficiency of Islamic
and conventional banks specifically on the GCC countries.
C1 [Kamarudin, Fakarudin; Nassir, Annuar Md.] Univ Putra Malaysia, Fac Econ &
Management, Serdang, Malaysia.
[Sufian, Fadzlan] Taylors Univ, Taylors Business Sch, Subang Jaya, Malaysia.
RP Kamarudin, F (corresponding author), Univ Putra Malaysia, Fac Econ & Management,
Serdang, Malaysia.
EM fakarudinkamarudin@gmail.com
RI Kamarudin, Fakarudin/AAL-8942-2020
OI Kamarudin, Fakarudin/0000-0001-8180-1173
NR 81
TC 9
Z9 9
U1 2
U2 10
PI BINGLEY
SN 1450-2194
EI 1758-888X
J9 EUROMED J BUS
JI EuroMed J. Bus.
PY 2016
VL 11
IS 2
BP 181
EP 211
DI 10.1108/EMJB-06-2015-0026
PG 31
WC Business
GA EJ7AV
UT WOS:000393374300002
OA Green Accepted
DA 2020-08-12
ER
PT J
AU El-Halaby, S
Hussainey, K
AF El-Halaby, Sherif
Hussainey, Khaled
TI Determinants of compliance with AAOIFI standards by Islamic banks
MANAGEMENT
LA English
DT Article
DE Determinants; Islamic banking; AAOIFI standards; Compliance and
non-Compliance; Cross-country
ID CORPORATE SOCIAL-RESPONSIBILITY; ACCOUNTING STANDARDS; DISCLOSURE;
GOVERNANCE; VOLUNTARY; PERFORMANCE; OWNERSHIP; QUALITY; BOARD; NEED
AB Purpose - The authors explore the level and determinants of compliance with
Accounting and Auditing Organization for Islamic Financial Institution's (AAOIFI)
financial and governance standards by Islamic banks (IBs).
Design/methodology/approach - The sample consists of 43 IBs across eight
countries. The authors use ordinary least squares regression analyses to examine
the impact of bank-specific characteristics and corporate governance (CG)
mechanisms concerned with Board of Directors (BOD) and Sharia Supervisory Board
(SSB) on the levels of compliance with AAOIFI standards.
Findings - The paper finds that the average compliance level based on AAOIFI
standards concerning the SSB is 68 per cent; corporate social responsibility (CSR)
is 27 per cent; and presentation of financial statements (FSs) is 73 per cent. The
aggregate disclosure based on the three indices is 56 per cent. The analysis also
shows that size, existing Sharia-auditing department, age and CG of SSB are the
main determinants of compliance levels.
Originality/value - The determinants of compliance with AAOIFI standards for IBs
around the world have not been explored before, and therefore, this paper is the
first of its kind to this issue.
C1 [El-Halaby, Sherif; Hussainey, Khaled] Univ Plymouth, Plymouth Business Sch,
RP Hussainey, K (corresponding author), Univ Plymouth, Plymouth Business Sch,
EM khaled.hussainey@plymouth.ac.uk
OI El-Halaby, Sherif/0000-0003-4716-4208
NR 101
TC 13
Z9 13
U1 1
U2 13
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2016
VL 9
IS 1
BP 143
EP 168
DI 10.1108/IMEFM-06-2015-0074
PG 26
GA EB9VB
UT WOS:000387744100008
DA 2020-08-12
ER
PT J
AU Moudud-Ul-Huq, S
AF Moudud-Ul-Huq, Syed
TI Linkage between corporate governance and corporate social responsibility
in banking sector of Bangladesh
SO INTERNATIONAL JOURNAL OF FINANCIAL ENGINEERING
LA English
DT Article
DE Corporate governance; corporate social responsibility; mechanisms;
significance; banks
AB This paper has been made to analyze the linkage between corporate governance and
corporate social responsibility. From analysis, it is found that Eastern Bank Ltd.
(EBL) performs better than other selected banks but not enough in practicing
corporate social responsibility. While, conventional banks are more imperative than
Islamic banks as all the indicators cover its benchmark apart from return on total
assets. It has proved that there is a significant relationship among return on
equity, earnings per share, corporate governance and corporate social
responsibility but corporate social responsibility has shown little impact on
corporate performance.
C1 [Moudud-Ul-Huq, Syed] Huazhong Univ Sci & Technol, Sch Management, Wuhan, Hubei,
Peoples R China.
[Moudud-Ul-Huq, Syed] Mawlana Bhashani Sci & Technol Univ, Dept Business Adm,
Tangail 1902, Bangladesh.
RP Moudud-Ul-Huq, S (corresponding author), Huazhong Univ Sci & Technol, Sch
Management, Wuhan, Hubei, Peoples R China.
EM moudud_cu7@mbstu.ac.bd
OI Moudud-Ul-Huq, Syed/0000-0002-9226-5131
NR 19
TC 3
Z9 3
U1 0
U2 1
PI SINGAPORE
SN 2424-7863
EI 2424-7944
J9 INT J FINANC ENG
JI Int. J. Financ. Eng.
PD DEC
PY 2015
VL 2
IS 4
AR 1550036
DI 10.1142/S242478631550036X
PG 29
GA V1C4X
UT WOS:000216778200004
DA 2020-08-12
ER
PT J
AU Mullah, S
Zaman, M
AF Mullah, Sabur
Zaman, Mahbub
TI Shari'ah supervision, corporate governance and performance: Conventional
vs. Islamic banks
SO JOURNAL OF BANKING & FINANCE
LA English
DT Article
DE Shari'ah supervision; Corporate governance; Islamic banks; Boards of
directors; Ethical banking
ID FINANCIAL INSTITUTIONS; BOARD INDEPENDENCE; RISK; MANAGEMENT; DIRECTORS
AB The performance and accountability of boards of directors and effectiveness of
governance mechanisms continue to be a matter of concern. Focusing on differences
between conventional banks and Islamic banks, we examine the effect of (i) Shari'ah
supervision boards, (ii) board structure and (iii) CEO-power on performance during
the period 2005-2011. We find Shari'ah supervision boards positively impact on
Islamic banks' performance when they perform a supervisory role, but the impact is
negligible when they have only an advisory role. The effect of board structure
(board size and board independence) and CEO power (CEO-chair duality and internally
recruited CEO) on the performance of Islamic banks is overall negative. Our
findings provide support for the positive contribution of Shari'ah supervision
boards but also emphasize the need for enforcement and regulatory mechanism for
them to be more effective. (C) 2015 Elsevier B.V. All rights reserved.
C1 [Mullah, Sabur] Stockholm Univ, Stockholm Business Sch, SE-10691 Stockholm,
Sweden.
[Zaman, Mahbub] Queensland Univ Technol, QUT Business Sch, Brisbane, Qld 4001,
Australia.
RP Mullah, S (corresponding author), Stockholm Univ, Stockholm Business Sch, SE-
10691 Stockholm, Sweden.
EM sabur.mollah@sbs.su.se; mahbub.zaman@qut.edu
RI Zaman, Mahbub/F-3278-2013
OI Zaman, Mahbub/0000-0003-4880-123X
FU Jan Wallenders och Tom Hedelius Stiftelse, Handelsbanken, Sweden
[P2010-0144: 1]
FX We are grateful to the Editor, Prof Carol Alexander, and two anonymous
referees for valuable comments. We acknowledge financial support from
Jan Wallenders och Tom Hedelius Stiftelse, Handelsbanken (Project ID:
P2010-0144: 1), Sweden for this research. The paper has benefitted from
comments received on earlier versions from participants at 2012 4th
IFABS Conference at Valencia, Spain, 2012 JEBO-Islamic Finance
Conference, Birmingham and 2013 World Finance Conference, Cyprus. The
detailed and insightful comments of M Shahid Ebrahim as well as comments
from Omneya Abdelsalam, Meryem Fethi and Mohamed Shaban are gratefully
acknowledged. We are also grateful to Wares Karim for his comments
during the design stage of this paper and to Abul Hassan for his
assistance with the questionnaire survey. Our thanks to Omar Sikder,
Alovaddin Kalonov, Rokonuzzaman and other research assistants for their
help with data collection. The authors are responsible for any remaining
errors.
NR 68
TC 93
Z9 93
U1 4
U2 63
PU ELSEVIER
PI AMSTERDAM
SN 0378-4266
EI 1872-6372
J9 J BANK FINANC
JI J. Bank Financ.
PD SEP
PY 2015
VL 58
BP 418
EP 435
DI 10.1016/j.jbankfin.2015.04.030
PG 18
GA CQ3NW
UT WOS:000360510300028
OA Green Published
DA 2020-08-12
ER
PT J
AU Abdallaha, AAN
Hassanb, MK
McClellanda, PL
AF Abdallaha, Abed Al-Nasser
Hassanb, Mostafa Kamal
McClellanda, Patrick L.
TI Islamic financial institutions, corporate governance, and corporate risk
disclosure in Gulf Cooperation Council countries
SO JOURNAL OF MULTINATIONAL FINANCIAL MANAGEMENT
LA English
DT Article
DE Corporate risk disclosure; Islamic/non-Islamic financial institutions;
Corporate governance; Disclosure; Corporate communication
ID ORGANIZATIONAL LEGITIMACY EVIDENCE; TOP MANAGEMENT; FIRM; PERFORMANCE;
VOLUNTARY; BEHAVIOR; POWER
AB Using content analysis we evaluate the determinants of corporate risk disclosure
in a sample of 424 publicly traded firms in the Gulf Cooperation Council countries.
We hypothesize that corporate risk disclosure will be lower in Islamic financial
institutions when compared to conventional financial institutions and higher in
firms that have high quality corporate governance contexts. We also argue that
corporate risk disclosure will vary across the Gulf Cooperation Council countries
despite sociocultural and regulatory similarities. Results are generally supportive
of our hypotheses. Implications for theory and practice are discussed. (C) 2015
Elsevier B.V. All rights reserved.
C1 [Abdallaha, Abed Al-Nasser; McClellanda, Patrick L.] Amer Univ Sharjah, Sch
Business Adm, Sharjah, U Arab Emirates.
[Hassanb, Mostafa Kamal] Univ Sharjah, Coll Business Adm, Sharjah, U Arab
Emirates.
RP Abdallaha, AAN (corresponding author), Amer Univ Sharjah, Sch Business Adm, POB
26666, Sharjah, U Arab Emirates.
EM abedabdallah@aus.edu; mhssan@sharjah.ac.ae; pmcclelland@aus.edu
RI Hassan, Mostafa K/C-2607-2012; Hassan, Mostafa/AAP-2850-2020; Hassan,
Mostafa/C-1153-2017
OI Hassan, Mostafa K/0000-0002-4829-4285; Hassan,
Mostafa/0000-0002-4829-4285; Hassan, Mostafa/0000-0002-4829-4285;
Abdallah, Abed AL-Nasser/0000-0003-3907-8633
NR 67
TC 14
Z9 15
U1 1
U2 5
PI AMSTERDAM
SN 1042-444X
EI 1873-1309
J9 J MULTINATL FINANC M
JI J. Multinatl. Financ. Manag.
PD APR
PY 2015
VL 31
BP 63
EP 82
DI 10.1016/j.mulfin.2015.02.003
PG 20
GA CN1DM
UT WOS:000358157100003
DA 2020-08-12
ER
PT J
AU Aysan, AF
Disli, M
Ozturk, H
Turhan, IM
AF Aysan, Ahmet F.
Disli, Mustafa
Ozturk, Huseyin
Turhan, Ibrahim M.
TI ARE ISLAMIC BANKS SUBJECT TO DEPOSITOR DISCIPLINE?
SO SINGAPORE ECONOMIC REVIEW
LA English
DT Article
DE Depositor discipline; Islamic banks
ID MARKET DISCIPLINE; CORPORATE GOVERNANCE; INSURANCE; STABILITY; DEBT;
EFFICIENCY; OWNERSHIP; LIQUIDITY; BEHAVIOR; RISK
AB We look at market discipline in the Islamic deposit market of Turkey for the
period after the 2000 crisis. We find support for quantity based disciplining of
Islamic banks through the capital ratio. The evidence for price disciplining is,
however, less convincing. In addition, we also look at the effect of the deposit
insurance reform in which the dual deposit insurance was revised and all banks were
put under the same deposit insurance company in December 2005. We observe that the
reform increased quantity based disciplining in the Turkish Islamic deposit market.
C1 [Aysan, Ahmet F.] Cent Bank Republ Turkey, TR-06100 Ankara, Turkey.
[Disli, Mustafa] Univ Ghent, Dept Gen Econ, B-9000 Ghent, Belgium.
[Ozturk, Huseyin] Undersecretariat Turkish Treasury, TR-06510 Ankara, Turkey.
[Turhan, Ibrahim M.] Borsa Istanbul, TR-34467 Istanbul, Turkey.
RP Disli, M (corresponding author), Univ Ghent, Dept Gen Econ, Tweekerkenstr 2, B-
9000 Ghent, Belgium.
EM ahmet.aysan@tcmb.gov.tr; mustafa.disli@ugent.be;
huseyin.ozturk@hazine.gov.tr; ibrahim.turhan@borsaistanbul.com
OI Disli, Mustafa/0000-0003-0584-0060
NR 51
TC 1
Z9 1
U1 0
U2 20
PI SINGAPORE
SN 0217-5908
EI 1793-6837
J9 SINGAP ECON REV
JI Singap. Econ. Rev.
PD MAR
PY 2015
VL 60
IS 1
SI SI
AR 1550007
DI 10.1142/S0217590815500071
PG 16
WC Economics
GA CD8NI
UT WOS:000351351600008
DA 2020-08-12
ER
PT J
AU Sulaiman, M
Majid, NA
Arifin, NM
AF Sulaiman, Maliah
Abd Majid, Norakma
Arifin, Noraini Mohd
TI Corporate Governance of Islamic Financial Institutions in Malaysia
SO ASIAN JOURNAL OF BUSINESS AND ACCOUNTING
LA English
DT Article
DE Corporate Governance Disclosure Quality; Islamic Financial Institutions
(IFIs); Malaysia
ID DISCLOSURE; TRANSPARENCY
AB Given the phenomenal increase in Islamic banking activities globally, it is
important that there exists good governance practices of Islamic financial
institutions (IFIs). This is primarily to ensure its sustainability in the long
run. More importantly, in order for Islamic banks to play an optimum role in the
development of Islamic countries, it is imperative to develop regulatory structures
which can help to control fraud, exploitation, and un-Islamic behaviour in banking
practices. Additionally, the development of strong governance practices will win
public confidence, thereby promoting trust amongst equity holders, investors and
other parties dealing with these IFIs. However, promulgating and developing
standards and guidelines on corporate governance (CG) may not be adequate. Thus,
this paper examines the extent IFIs are adhering to such guidelines. There are two
stages to this study. First a disclosure index was developed using the guidelines
issued by the Central Bank of Malaysia (BNM), the standard on CG promulgated by the
Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) and
the framework introduced by the Islamic Financial Services Board (IFSB). The index
developed in the first stage was then used to assess the annual reports of all the
16 IFIs operating in Malaysia. It was found that on a scale of 0 to 100, the CG
disclosure index ranges from a low of 42.28 to a high of 68.29, with the average
score of 51.42. This shows that IFIs are not particularly motivated to disclose
specific-governance related information. On the basis of the stewardship theory,
however, these elements reflect the accountability of IFIs towards their
stakeholders.
C1 [Sulaiman, Maliah; Arifin, Noraini Mohd] Int Islamic Univ Malaysia, Dept
Accounting, Kulliyyah Econ & Management Sci, Kuala Lumpur, Malaysia.
[Abd Majid, Norakma] Univ Malaysia Terengganu, Fac Econ & Management, Dept
Accounting & Finance, Kuala Terengganu, Malaysia.
RP Sulaiman, M (corresponding author), Int Islamic Univ Malaysia, Dept Accounting,
Kulliyyah Econ & Management Sci, Kuala Lumpur, Malaysia.
EM maliah@iium.edu.my; Norakma.amajid@gmail.com; norainima@iium.edu.my
RI Majid, Norakma Abd/O-2027-2019
OI Majid, Norakma Abd/0000-0001-7703-6720
NR 38
TC 4
Z9 4
U1 0
U2 7
PU UNIV MALAYA, FAC BUSINESS & ACCOUNTANCY
PI KUALA LUMPUR
PA UNIB MALAYA, FAC BUSINESS & ACCOUNTANCY, KUALA LUMPUR 50603, MALAYSIA
SN 1985-4064
EI 2180-3137
J9 ASIAN J BUS ACCOUNT
JI Asian J. Bus. Account.
PY 2015
VL 8
IS 1
BP 65
EP 93
PG 29
GA DG4AU
UT WOS:000372013100004
DA 2020-08-12
ER
PT J
AU Ahmad, K
AF Ahmad, Khaliq
TI CORPORATE GOVERNANCE FOR ISLAMIC BANKING SUSTAINABILITY AND CAUX ROUND
TABLE PRINCIPLES
SO AL-SHAJARAH
LA English
DT Article
DE Islamic banking; corporate; governance; sustainability; Caux Round Table
AB Corporate Governance for Islamic Banking Sustainability and Caux Round Table
Principles is an attempt to give a balanced view of both Western and Islamic
perspectives. The review of the literature, explanations of the verses of the
Qur'an that relate to corporate governance (CG) theories and Islamic perspective to
it will enrich the field. This paper takes those traditional theories in literature
and interprets them from an Islamic perspective, using more international
perspectives especially for the Muslim world. Since failure to make profit alone is
not enough reason of defaulting corporate entities rather non-compliance of
shari'ah and Islamic ethical guidelines and lack of CSR concern is equally
important in defining failure.
C1 [Ahmad, Khaliq] ICIFE, Kuala Lumpur, Malaysia.
RP Ahmad, K (corresponding author), IIUM Inst Islamic Banking & Finance IIiBF,
EM khaliqahmad@iium.edu.my
OI Ahmad, Khaliq/0000-0001-8129-5178
NR 2
TC 9
Z9 9
U1 0
U2 8
PI KUALA LUMPUR
SN 1394-6870
J9 AL-SHAJARAH
JI Al-Shajarah
PY 2015
SI SI
BP 1
EP 17
PG 17
WC Religion
SC Religion
GA DA0PX
UT WOS:000367500700001
DA 2020-08-12
ER
PT J
AU Kallamu, BS
Saat, NAM
AF Kallamu, Basiru Salisu
Saat, Nur Ashikin Mohd
TI Audit committee attributes and firm performance: evidence from Malaysian
finance companies
SO ASIAN REVIEW OF ACCOUNTING
LA English
DT Article
DE Experience; Expertise; Audit committee; Independent committee chair;
Independent directors; Interlock
ID CORPORATE GOVERNANCE; BOARD; COMPENSATION; EXPERTISE; DETERMINANTS;
MANAGEMENT; VALUATION; RISK
AB Purpose - The purpose of this paper is to examine the impact of audit committee
(AC) attributes on the performance of finance companies in Malaysia in both period
before and after the Malaysian Code on Corporate Governance (MCCG) was issued in
order to determine which of the AC attributes enhances performance of finance
companies in Malaysia.
Design/methodology/approach - The population of the study comprises firms listed
under finance sector of the main market of Bursa Malaysia. The number of firms
listed on the main market of Bursa Malaysia as at the time of data collection
(2012) was 822, out of which 37 were finance firms. Since the number of finance
companies listed on the main market was only 37, all companies were used as sample
for this study. This comprises companies involved in commercial, investment and
Islamic banking, insurance, Takaful and other finance-related services. The sample
for the period prior to MCCG varies over the period of observation. The number of
finance companies in 1992, 1993, 1994, 1995 and 1996 was 36, 40, 44, 47 and 54,
respectively. The sample comprises companies in commercial banking, investment
banking, Islamic banking, insurance, Takaful and other finance-related services.
The sample comprises firms listed on the main board of Kuala Lumpur stock exchange
as it was called before the name was changed to Bursa Malaysia. The companies
listed under the Ace market are not included due to their small number and because
they are subject to different listing requirements. The list of the finance
companies for the period 2007-2011 is obtained from the web site of Bursa Malaysia
while for the period 1992-1996, the list is obtained from Bursa Malaysia knowledge
centre. The observation period for the study covers financial period from 2007 to
2011 which represents post MCCG period while period from 1992 to 1996 represents
the period before MCCG.
Findings - The findings suggests a significant positive relationship between
independent AC members and profitability while dual membership of directors on
audit and nomination committee is significant and negatively related with
profitability. The result supports agency theory which suggests that independent
directors provide effective monitoring of the management thereby enhancing
profitability and reducing possibility for opportunistic behavior by the management
and ultimately enhancing performance. In addition, the result indicates that there
was significant improvement in corporate governance in finance companies after the
MCCG was issued compared to the period before it was issued.
Research limitations/implications - The study focussed only on finance companies
listed on Bursa Malaysia. The attributes examined include independence, expertise,
experience, executive membership and interlock of directors, future studies could
examine other attributes such as internal process of the committee and personal
characteristics of the directors. Furthermore, the study used secondary data future
studies could use primary data or a combination of primary and secondary data. The
study only examined the period before MCCG and after the code was issued, future
study could examine the impact of the first and second revision and compare it with
period after the first and second revision.
Practical implications - The findings contribute to the literature and the
understanding of the influence of AC attributes such as independence and experience
of the directors on the committee by showing an association between director
independence, expertise, experience and improved performance. Management and board
of companies may use the findings to make appropriate choices about AC attributes
and governance mechanisms to improve performance particularly with regards to
independence, expertise, experience and interlock of the directors.
Social implications - The study has provided policy makers with a better
understanding of the various features a AC should have which could be incorporated
in future policy formulation in order to safeguard investments of shareholders,
protect the interest of various stakeholders and enhance the flow of capital and
foreign direct investment into finance companies and the economy in general.
Comparison of the result between the pre MCCG and post MCCG period shows an
improvement in corporate governance in finance companies after the MCCG was issued.
This implies that the initial issue of MCCG impacted positively on the governance
of the finance companies.
Originality/value - To best of the authors knowledge the study is the first to
examine the attributes of AC in finance sector as a whole and to examine the impact
in the period before and after the MCCG was issued.
C1 [Kallamu, Basiru Salisu] Univ Putra Malaysia, Putra Business Sch, Upm Serdang,
Malaysia.
[Saat, Nur Ashikin Mohd] Univ Putra Malaysia, Dept Accounting & Finance,
Serdang, Malaysia.
RP Kallamu, BS (corresponding author), Univ Putra Malaysia, Putra Business Sch, Upm
Serdang, Malaysia.
EM bkallamu001@yahoo.com
RI KALLAMU, BASIRU/R-3368-2019; Saat, Nur Ashikin Mohd/P-9072-2019
NR 75
TC 12
Z9 12
U1 1
U2 32
PI BINGLEY
SN 1321-7348
EI 1758-8863
J9 ASIAN REV ACCOUNT
JI Asian Rev. Account.
PY 2015
VL 23
IS 3
BP 206
EP 231
DI 10.1108/ARA-11-2013-0076
PG 26
GA CQ0SR
UT WOS:000360307800001
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Morrison, S
AF Morrison, Scott
TI Oman's Islamic Banking Regulatory Framework: The Corporate Governance of
Sharia Compliance in a New Jurisdiction
SO ARAB LAW QUARTERLY
LA English
DT Article
DE corporate governance; Islamic banking; Sharia compliance; Sharia
governance
AB This article sets out and comments upon those aspects of the Islamic Banking
Regulatory Framework (IBRF) that pertain to Shari. a compliance and the corporate
governance of that compliance in the newly introduced (since 2012) Islamic banking
sector in the Sultanate of Oman. The relevant authority, the Central Bank of Oman,
has indisputably demonstrated the premium that it attaches to consistent and
dependable Shari. a risk management and reduction with its development of the IBRF.
This article inventories and analyses the array of regulatory techniques contained
in the IBRF. It also identifies some areas of potential reform.
C1 [Morrison, Scott] Grays Inn, London, England.
[Morrison, Scott] Akita Univ, Law, Akita 010, Japan.
RP Morrison, S (corresponding author), Grays Inn, London, England.
EM morrison@gipc.akita-u.ac.jp
NR 9
TC 0
Z9 0
U1 0
U2 4
PU BRILL ACADEMIC PUBLISHERS
PI LEIDEN
PA PLANTIJNSTRAAT 2, P O BOX 9000, 2300 PA LEIDEN, NETHERLANDS
SN 0268-0556
EI 1573-0255
J9 ARAB LAW Q
JI Arab Law Q.
PY 2015
VL 29
IS 2
BP 101
EP 137
DI 10.1163/15730255-12341297
PG 37
WC Law
SC Government & Law
GA CL1RW
UT WOS:000356722900001
DA 2020-08-12
ER
PT J
AU Dalwai, TAR
Basiruddin, R
Rasid, SZA
AF Dalwai, Tamanna Abdul Rahman
Basiruddin, Rohaida
Rasid, Siti Zaleha Abdul
TI A critical review of relationship between corporate governance and firm
performance: GCC banking sector perspective
LA English
DT Review
DE Financial performance; Corporate governance; Board of directors;
Shareholders; Audit committees; Chairmen
ID VOLUNTARY DISCLOSURE; CEO COMPENSATION; EXPERIENCE; IMPACT
AB Purpose - The purpose of this paper is to evaluate existing studies on the
relationship of corporate governance with firm performance in different regions and
address the need for similar analysis for the Gulf Coperation Council (GCC) sector.
The banking sector comprises the conventional and Islamic banks in the GCC sector
and is important due to their ability to bring stability to this region. Existing
studies that measure the relationship of GCC sector conventional banks and firm
performance are limited. This study proposes a need for future research on
corporate governance in the GCC region.
Design/methodology/approach - This paper will review and analyze the different
empirical and theoretical contributions in establishing the relationship between
corporate governance and firm performance.
Findings - This paper will create a focus for future research of measuring the
impact of corporate governance mechanism on firm performance. The regulators will
be encouraged to focus on more research studies for the GCC sector development in
the field of corporate governance of the banking sector.
Research limitations/implications - The existing studies are valid and
practicable for the region under study, and the results need not be applicable for
other business environments. In addition, the evolving business and economic
environment have always brought about inconsistent conclusions; thus, the period of
study can always give varied results.
Practical implications - The analysis undertaken in this paper will address the
literature gaps for the GCC banking sector and play an instrumental role for future
studies by theoreticians and regulators.
Originality/value - This paper identifies the literature gaps for the GCC region
and analyses the most applicable existing studies that can be useful for the
banking sector corporate governance improvement. This paper will create
opportunities for the future researchers.
C1 [Dalwai, Tamanna Abdul Rahman; Basiruddin, Rohaida; Rasid, Siti Zaleha Abdul]
Univ Teknol Malaysia, Int Business Sch, Kuala Lumpur, Malaysia.
RP Dalwai, TAR (corresponding author), Univ Teknol Malaysia, Int Business Sch,
EM tdalwai@hotmail.com
RI BASIRUDDIN, ROHAIDA/D-8631-2018; Dalwai, Tamanna/M-1176-2018; Rasid,
Siti Zaleha Abdul/AAP-9283-2020
OI BASIRUDDIN, ROHAIDA/0000-0002-3743-2427; Dalwai,
Tamanna/0000-0001-5754-5384; Rasid, Siti Zaleha
Abdul/0000-0001-7200-6899
NR 51
TC 12
Z9 12
U1 3
U2 14
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2015
VL 15
IS 1
BP 18
EP 30
DI 10.1108/CG-04-2013-0048
PG 13
WC Business
GA CJ6UG
UT WOS:000355629100002
DA 2020-08-12
ER
PT B
AU Farag, H
AF Farag, Hisham
BE Boubaker, S
Nguyen, DK
TI Corporate Governance and Corporate Social Responsibility in Financial
Institutions: Evidence from Islamic Banks
SO CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY: EMERGING
MARKETS FOCUS
LA English
DE Corporate governance; corporate social responsibility (CSR); Islamic
banks
ID BOARD STRUCTURE; DISCLOSURE; DETERMINANTS; CRISIS; COMMUNICATION;
PERFORMANCE; REPUTATION
AB Islamic banks play a significant role in the financial sector in a number of
emerging markets especially countries with a large Muslim population. The
objectives of Islamic banks are fundamentally different from those of conventional
banks. While conventional banks seek to maximize their shareholders wealth, Islamic
banks primarily strive to achieve a balance between providing sufficient Shari'ah
compliant returns and their social responsibilities to various stakeholders.
Moreover, Islamic banks are characterized by multiple agency relationships. I
analyze the corporate governance characteristics of a sample of Islamic banks in
six emerging countries and their corporate social responsibility (CSR) as these two
aspects are increasingly related. I identify areas of interest through mini case
studies and examples. Finally, I conclude by considering the likely future
development of corporate governance and CSR in Islamic banks in emerging markets.
C1 Univ Birmingham, Birmingham Business Sch, Finance, Birmingham B15 2TT, W
Midlands, England.
RP Farag, H (corresponding author), Univ Birmingham, Birmingham Business Sch,
Finance, Birmingham B15 2TT, W Midlands, England.
EM h.farag@bham.ac.uk
NR 62
TC 0
Z9 0
U1 0
U2 3
PI SINGAPORE
PA PO BOX 128 FARRER RD, SINGAPORE 9128, SINGAPORE
BN 978-981-4520-37-9
PY 2015
BP 405
EP 436
PG 32
WC Business; Management
GA BC0OX
UT WOS:000349291300017
DA 2020-08-12
ER
PT J
AU Bukair, AA
Rahman, AA
AF Bukair, Abdullah Awadh
Rahman, Azhar Abdul
TI Bank performance and board of directors attributes by Islamic banks
MANAGEMENT
LA English
DT Article
DE Corporate governance; Islamic banking; Bank performance; Board of
directors' attributes
ID CORPORATE-GOVERNANCE; DETERMINANTS; DISCLOSURE; OWNERSHIP; FIRM
AB Purpose - The purpose of this paper is to examine the relationship between board
structure (consisting of board size, board composition, CEO role duality and
chairman composition), investment account holders (IAHs) and social contribution
and the bank performance in one of the fastest-growing industries, Islamic banking.
Design/methodology/approach - A generalized least square (GLS) regression model
was used to investigate such relationship applying data from a sample of 40 Islamic
banks operating in Gulf Cooperation Council (GCC) countries over the period of 2008
until 2011.
Findings - The results show that both size and composition of the board have a
negative effect on bank performance. On the other hand, the separation of CEO and
chairman roles and the IAHs have no effect, while the chairman independence has a
positive impact. As for the control variables, bank size positively influences bank
performance whereas leverage has a negative effect. Zakah and gross domestic
product produce no significant effect on bank performance.
Research limitations/implications - Even though the model has explained the
significant part of the variation in performance, there are other factors
considered as noise in the model which are unexplained due to the lack of data. As
such, other mechanisms of corporate governance (CG) comprising attributes of the
remuneration and nominating committees and ownership structure may be used in
future research. The sample size is also limited; thus, in future research, the
sample size could be increased by including Islamic banks operating in all Middle
East countries.
Practical implications - The results suggest that to yield a better bank
performance, Islamic banks should enhance the effectiveness of CG through the board
of directors (BODs), whereby any decisions made by the BODs would lead to greater
investors' confidence in the market. The results suggest that policymakers should
impose new mechanisms that could impact the effectiveness and compliance of BODs on
the code of CG and guidelines of micro-finance, in general, and among Islamic
banks, in particular. The community also has the right to know up to what extent
are the Islamic banks are in compliance with Shariah principles and rules and the
impact of their transactions on the society's welfare.
Originality/value - BODs' failures are the primary reason for the recent
financial collapses, and Islamic banks are not spared from these events. Even
though many studies have examined the influence of BODs effectiveness on the
performance of conventional banking industry over time, studies on the Islamic
financial institutions are quite scarce. In addition, the results obtained by the
studies on conventional banks may not be applicable to Islamic banks. This is
because the BODs of Islamic banks discharge their responsibilities and duties along
with the existence of the Shariah supervisory board (a multi-layer structure),
which is quite different from the CG structure in conventional banks that is
dependent on the BODs (a single-layer). Therefore, this research attempts to fill
the gap in the literature by addressing this issue in the Islamic banking industry
by using a stakeholder theory based on Islamic perspective which has not been used
yet in previous studies.
C1 [Bukair, Abdullah Awadh] Hadhramout Univ, Fac Adm, Hadhramout, Yemen.
[Rahman, Azhar Abdul] Univ Utara Malaysia, Coll Business, Sch Accountancy,
Sintok, Kedah, Malaysia.
RP Bukair, AA (corresponding author), Hadhramout Univ, Fac Adm, Hadhramout, Yemen.
EM bukairaaa@yahoo.com
NR 62
TC 17
Z9 17
U1 2
U2 9
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2015
VL 8
IS 3
BP 291
EP 309
DI 10.1108/IMEFM-10-2013-0111
PG 19
GA V13IT
UT WOS:000214407800002
DA 2020-08-12
ER
PT B
BE Muhammad, M
Sairally, BS
Habib, F
TI Governance Framework for the Islamic Capital Market
SO ISLAMIC CAPITAL MARKETS: PRINCIPLES AND PRACTICES
LA English
AB Corporate governance is concerned with the process of how to run a company well.
In its simplest form, corporate governance can be defined as the systems and
procedures by which companies are directed and controlled. Many empirical studies
have shown that companies with good corporate governance practices outperform their
peers in the long term. Governance of financial products in the capital market is
guided by the same principles that build the foundation for codes of good corporate
governance practices adopted by advanced economies.
In view of the importance of a strong governance framework required for the
Islamic capital market (ICM), this chapter discusses some theoretical and practical
aspects of the underlying principles needed in formulating such a framework that
also incorporates Shari ah governance.
NR 57
TC 0
Z9 0
U1 0
U2 0
PI KUALA LUMPUR
BN 978-967-349-652-5; 978-967-349-626-6
PY 2015
BP 257
EP 306
PG 50
GA BH4XZ
UT WOS:000400755200009
DA 2020-08-12
ER
PT J
AU Grassa, R
AF Grassa, Rihab
TI Shariah supervisory systems in Islamic finance institutions across the
OIC member countries An investigation of regulatory frameworks
LA English
DT Article
DE Regulation; Institutional Shariah board; Islamic financial institutions;
National Shariah board; OIC member states; Shariah supervision
ID CORPORATE GOVERNANCE; ISSUES
AB Purpose - This paper aims to discuss the different practices and regulatory
frameworks of Shariah supervision in Islamic Financial Institutions (IFIs) across
Organisation of Islamic Cooperation (OIC) member states and to identify the gaps in
current Shariah supervisory practices. Parallel with the rapid growth of Islamic
finance worldwide, corporate governance has received a considerable amount of
attention in Islamic finance. Shariah is a unique characteristic of Islamic
finance. That is why the need for a good and efficient Shariah governance system
for IFIs is considered to be a crucial requirement to ensure the development and
the stability of the Islamic finance industry.
Design/methodology/approach - The paper is based on critical review of current
laws and regulations for IFIs; this provides a reflective synthesis on the
practical work of the Shariah supervisory system across the 25 different OIC member
states.
Findings - The paper reveals several findings. First, the authors observe a weak
and poor Shariah supervisory system in most OIC member states. Furthermore, the
authors detect various gaps in the current Shariah supervisory practices. Most of
these shortfalls are linked to the current regulatory frameworks: the roles and the
responsibilities of the national Shariah authority, and the institutional Shariah
board's duties and attributes.
Originality/value - This paper's originality and value lies in its critical
review of current Shariah supervisory practices across 25 OIC member states. Also,
the paper puts forward various suggestions to the regulatory authorities and to the
Islamic Financial Services Board to enhance the Shariah governance system and to
standardize the different practices of Shariah governance worldwide.
C1 [Grassa, Rihab] ISCAE, La Manouba, Tunisia.
RP Grassa, R (corresponding author), ISCAE, La Manouba, Tunisia.
NR 30
TC 7
Z9 7
U1 1
U2 12
PI BINGLEY
SN 1358-1988
EI 1740-0279
PY 2015
VL 23
IS 2
BP 135
EP 160
DI 10.1108/JFRC-02-2014-0011
PG 26
GA V74ZW
UT WOS:000211815900003
DA 2020-08-12
ER
PT J
AU Choudhury, M
AF Choudhury, Masudul
TI Subjective probability and financial valuation: contrasting paradigms
LA English
DT Article
DE Finance; Ethics; Corporate governance; Interdisciplinary studies
AB Purpose - The purpose of this paper is to theorize the existing idea of
subjective probability a la Keynes's Treatise on Probability Theory. Then to show
that, under the especial kind of financial valuation model in the absence of
interest rate and speculation, subjective probability is not of a major concern in
Islamic financial theory.
Design/methodology/approach - The topic is of an epistemological nature premised
on the Islamic unity of knowledge and the world-system with special attention given
to the formulation of the financial model for evaluation under its unitary
characteristic at each time period of financial evaluation. The approach, while
being epistemological, is also mathematical in the financial valuation field.
Findings - Mathematical calculation of approximate solution using Newton-Raphson
method applied to Islamic financial valuation model with yields, evolutionary
learning and of the nature of unitary discursive experience at every stage of
valuation taken continuously establishes the innovative method approximating
subjective probability of events to limiting negligible field.
Practical implications - The nature and importance of Islamic valuation models
brings about the implication of diversification of risk and production
diversification that altogether underlie the limiting phenomenon of subjective
probability in a narrow closure.
Social implications - The epistemological implication of unity of knowledge and
unity of the specific events during the valuation experience causes the socio-
economic system to gain increasing levels of stability and certainty while
subjective probability narrows down in its small closure.
Originality/value - This paper is boldly original in the light of its
methodology that addresses the much pursued topic of subjective probability in the
Islamic heterodox economic and financial field.
C1 [Choudhury, Masudul] Int Islamic Univ Malaysia, Inst Islamic Banking & Finance,
RP Choudhury, M (corresponding author), Int Islamic Univ Malaysia, Inst Islamic
Banking & Finance, Kuala Lumpur, Malaysia.
EM masudc60@yahoo.ca
NR 33
TC 1
Z9 1
U1 0
U2 4
PI BINGLEY
SN 1985-2517
EI 2042-5856
PY 2015
VL 13
IS 1
BP 20
EP 38
DI 10.1108/JFRA-05-2014-0044
PG 19
GA V72TF
UT WOS:000211663400002
DA 2020-08-12
ER
PT J
AU Ayedh, AM
Echchabi, A
AF Ayedh, Abdullah Mohammed
Echchabi, Abdelghani
TI Shari'ah supervision in the Yemeni Islamic banks: a qualitative survey
SO QUALITATIVE RESEARCH IN FINANCIAL MARKETS
LA English
DT Article
DE Islamic banking; Republic of Yemen; Shari'ah supervisory boards
ID FINANCIAL INSTITUTIONS; CORPORATE GOVERNANCE; ISSUES
AB Purpose - The purpose of this study is mainly to comprehensively investigate the
current practices of Islamic banks' Shari'ah supervisory boards in the specific
context of Yemen.
Design/methodology/approach - The study uses a qualitative approach in the form
of in-depth interviews of a number of Shari'ah scholars active within the Yemeni
Islamic banks.
Findings - The findings support the notion that Islamic banking still lacks
regulations and standards, as the Yemeni Islamic banks are still following the
minimum requirements and only apply the compulsory standards. Another key finding
is that Islamic banks in Yemen apply similar principles in Fatwa issuance and
Shari'ah compliance assurance, especially in referring to the different Madzhabs'
and scholars' opinions because of the sensitivity of Yemeni community with regards
to the Shari'ah compliance aspect. Finally, the procedure of Shari'ah review of the
Islamic banks' operations varied from the typical set of procedures to the loose
ones in terms of the number of staff in the Shari'ah audit department and the
application of a comprehensive survey or sampling to review the banks'
transactions.
Originality/value - This study provides some valuable recommendations to further
enhance the Shari'ah supervisory practices not only in Yemen but also in similar
settings.
C1 [Ayedh, Abdullah Mohammed] Islamic Sci Univ Malaysia, Negeri Sembilan, Malaysia.
[Echchabi, Abdelghani] Effat Univ, Jeddah, Saudi Arabia.
RP Echchabi, A (corresponding author), Effat Univ, Jeddah, Saudi Arabia.
EM abdelghani.mo@gmail.com
RI Echchabi, Abdelghani/Y-3220-2019; Echchabi, Abdelghani/AAU-4710-2020;
Ahmed, Abdullah/AAP-8235-2020
OI Echchabi, Abdelghani/0000-0001-7526-6418; Ahmed,
Abdullah/0000-0002-4894-1569
NR 33
TC 4
Z9 4
U1 0
U2 2
PI BINGLEY
SN 1755-4179
J9 QUAL RES FINANC MARK
JI Qual. Res. Financ. Mark.
PY 2015
VL 7
IS 2
BP 159
EP 172
DI 10.1108/QRFM-06-2014-0017
PG 14
GA V12JN
UT WOS:000214342200004
DA 2020-08-12
ER
PT J
AU Obid, SNS
Naysary, B
AF Obid, Siti
Naysary, Babak
TI Toward a comprehensive theoretical framework for Shariah governance in
Islamic financial institutions
SO JOURNAL OF FINANCIAL SERVICES MARKETING
LA English
DT Article
DE agency theory; Islamic financial institutions; Islamic banking; Shariah
governance; stakeholder theory; stewardship theory
ID CORPORATE GOVERNANCE; STEWARDSHIP THEORY; AGENCY THEORY; OWNERSHIP;
ECONOMICS; BANKS; MODEL
AB The purpose of this research is to develop a comprehensive theoretical framework
for interpreting Shariah governance mechanism in Islamic financial institutions
(IFIs). After reviewing existing theories that were used to explain the phenomenon
of corporate governance, three most commonly used theories in the corporate
governance and Shariah governance area namely agency theory, stewardship theory and
stakeholder theory were used and integrated based on their interrelated concepts
and their relationship with Shariah governance. The constructed theoretical
framework includes five concepts, namely accountability, disclosure and
transparency, competency, confidentiality and independency among the key
functionaries in Shariah governance, which are perceived to be the principles of
Shariah governance. This research is among the first attempts to build an
integrated theoretical foundation for Shariah governance in IFIs and the developed
theoretical framework can be used as the basis for interpretations and comparisons
on the ideal versus practical situation of Shariah governance in IFIs.
C1 [Obid, Siti; Naysary, Babak] Int Islamic Univ Malaysia, Dept Accounting, 320
Menara Seputeh,Jalan Kelang Lama, Kuala Lumpur 58000, Malaysia.
RP Naysary, B (corresponding author), Int Islamic Univ Malaysia, Dept Accounting,
320 Menara Seputeh,Jalan Kelang Lama, Kuala Lumpur 58000, Malaysia.
EM bnaysary@hotmail.com
NR 82
TC 4
Z9 4
U1 1
U2 3
PI BASINGSTOKE
SN 1363-0539
EI 1479-1846
J9 J FINANC SERV MARK
JI J. Financ. Serv. Mark.
PD DEC
PY 2014
VL 19
IS 4
BP 304
EP 318
DI 10.1057/fsm.2014.26
PG 15
WC Business
GA V75WM
UT WOS:000211874700006
DA 2020-08-12
ER
PT J
AU Al-Suhaibani, M
Naifar, N
AF Al-Suhaibani, Mohammad
Naifar, Nader
TI Islamic Corporate Governance: Risk-Sharing and Islamic Preferred Shares
SO JOURNAL OF BUSINESS ETHICS
LA English
DT Article
DE Risk-sharing; Islamic finance; Corporate governance; Agency cost;
Ethical finance; Islamic preferred shares; Pricing model; Monte Carlo
simulations; Sharia screening
ID AGENCY COSTS; FINANCE; STOCK; FIRM
AB The recent financial crises (including the Asian and subprime crises) indicated
the need to reinforce corporate governance mechanisms in emerging and developing
market economies. Corporate governance refers to all the factors that affect firm
processes (including, among others, financing strategies). Firms must avoid debt
financing instruments and adopt financing instruments that allow for "risk-sharing"
rather than "risk-shifting" because all recent financial crises were, in essence,
debt crises. The primary objective of this paper is to examine the principles of
risk-sharing promoted by Islamic finance and study their implications for corporate
governance. The secondary objective of this paper is to propose a pricing model for
a new risk-sharing financial instrument (Islamic preferred shares, IPS) that was
recently discussed by Zarka and Al-Suhaibani (Shariah-compatible preference shares:
The Sharia Basis and Economic Rationale. Working paper, SABIC Chair for Islamic
Financial Market Studies, 2012). We study the implications of this new instrument
as a powerful tool for corporate governance in the case of Islamic markets. We
explain the possible contribution of IPS to agency cost reduction, Sharia screening
costs and ethical corporate governance.
C1 [Al-Suhaibani, Mohammad; Naifar, Nader] Al Imam Mohammad Ibn Saud Islamic Univ
IMSIU, Coll Econ & Adm Sci, Dept Finance & Investment, Riyadh, Saudi Arabia.
RP Naifar, N (corresponding author), Al Imam Mohammad Ibn Saud Islamic Univ IMSIU,
Coll Econ & Adm Sci, Dept Finance & Investment, POB 5701, Riyadh, Saudi Arabia.
EM misuhaibani@imamu.edu.sa; naneifar@imamu.edu.sa
RI Alsuhaibani, Mohammad Ibrahim/M-5837-2019; Naifar, Nader/AAJ-2859-2020
OI Alsuhaibani, Mohammad Ibrahim/0000-0001-5005-7142; Naifar,
Nader/0000-0001-9554-8236
NR 28
TC 5
Z9 5
U1 1
U2 38
PU SPRINGER
PI DORDRECHT
PA VAN GODEWIJCKSTRAAT 30, 3311 GZ DORDRECHT, NETHERLANDS
SN 0167-4544
EI 1573-0697
J9 J BUS ETHICS
JI J. Bus. Ethics
PD NOV
PY 2014
VL 124
IS 4
BP 623
EP 632
DI 10.1007/s10551-013-1897-6
PG 10
WC Business; Ethics
GA AR7JB
UT WOS:000343754400006
DA 2020-08-12
ER
PT J
AU Elnahass, M
Izzeldin, M
Abdelsalam, O
AF Elnahass, Marwa
Izzeldin, Marwan
Abdelsalam, Omneya
TI Loan loss provisions, bank valuations and discretion: A comparative
study between conventional and Islamic banks
SO JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
LA English
DT Article
DE Islamic banks; Conventional banks; Value relevance; Loan loss
provisions; Earnings management
ID EARNINGS MANAGEMENT; CORPORATE GOVERNANCE; CAPITAL MANAGEMENT;
DETERMINANTS; RELIGION; INFORMATION; EFFICIENCY; RELEVANCE; BEHAVIOR
AB This study investigates the use of reported loan loss provisions (LLP) by
investors in their valuations of banks within the Middle East and North Africa
region between the years 2006 and 2011. We decompose LLP into discretionary and
non-discretionary components to test for differential valuations in the two banking
sectors. We use alternative criteria to define the components of LLP in banks: loan
quality/size and earnings management/manipulation incentives. We employ a price-
level valuation model estimated using two-stage analyses. We find that LLP has
positive value relevance to investors in both banking sectors. Investors in Islamic
banks price the discretionary component relatively lower than their conventional
counterparts. We attribute this result to differences in product and governance
structures as well as to the religious perception of Islamic banking. In both
banking sectors, investors construe an increase in the non-discretionary component
as irrelevant valuation information. Our results are relevant to bank regulators in
showing the signalling effect of LLP to bank value and stability. (C) 2013 Elsevier
B.V. All rights reserved.
C1 [Elnahass, Marwa; Abdelsalam, Omneya] Aston Univ, Aston Business Sch, Birmingham
B4 7ET, W Midlands, England.
[Izzeldin, Marwan] Lancaster Management Sch, Lancaster LA1 4YX, England.
RP Elnahass, M (corresponding author), Aston Univ, Aston Business Sch, Birmingham
B4 7ET, W Midlands, England.
EM m.elnahas@Aston.ac.uk; m.izzeldin@lancaster.ac.uk;
O.h.abd-elsalam@aston.ac.uk
OI Elnahass, Marwa/0000-0002-8809-4165
NR 72
TC 32
Z9 32
U1 2
U2 45
PU ELSEVIER
PI AMSTERDAM
SN 0167-2681
EI 1879-1751
J9 J ECON BEHAV ORGAN
JI J. Econ. Behav. Organ.
PD JUL
PY 2014
VL 103
SI SI
BP S160
EP S173
DI 10.1016/j.jebo.2013.08.018
PG 14
WC Economics
GA AM7AU
UT WOS:000340017900011
DA 2020-08-12
ER
PT J
AU Ullah, S
Jamali, D
Harwood, IA
AF Ullah, Shakir
Jamali, Dima
Harwood, Ian A.
TI Socially responsible investment: insights from Shari'a departments in
Islamic financial institutions
SO BUSINESS ETHICS-A EUROPEAN REVIEW
LA English
DT Article
ID CORPORATE GOVERNANCE; SPIRITUALITY; CULTURE
AB Islamic financial institutions (IFIs) are emerging as prominent players in the
financial world and are increasingly known for their conservative socially
responsible investment (SRI). Being the Shari'a regulators and monitors of IFIs,
the Shari'a departments are expected to implement the Islamic perspective of SRI -
drawn from Shari'a principles - in their respective institutions. The purpose of
this paper is to develop an SRI framework applicable to IFIs and other Shari'a
compliant entities and assess its applicability within Shari'a departments of two
Islamic banks. This paper involves cross-case analysis based on interviews with
Shari'a department officials in two settings differentiated by their respective
independence. The proposed framework consists of required, expected and desired SRI
aspects as applicable to IFIs. The findings reveal that the required aspects are
uniformly observed by the two cases. There are, however, variations when it comes
to observing the expected and desired ethical SRI aspects that may be driven by the
independence of the Shari'a boards. This inconsistency and non-adherence of
expected and desired aspects may lead to reputational risks in the long run.
C1 [Ullah, Shakir] Inst Management Sci, Dept Banking & Finance, Peshawar, Pakistan.
[Jamali, Dima] Amer Univ Beirut, Suliman S Olayan Sch Business, Beirut, Lebanon.
[Harwood, Ian A.] Univ Southampton, Sch Management, Southampton SO9 5NH, Hants,
England.
RP Ullah, S (corresponding author), Inst Management Sci, Dept Banking & Finance,
Peshawar, Pakistan.
RI Harwood, Ian/O-9917-2016; Ullah, Shakir/AAD-9337-2019
OI Harwood, Ian/0000-0002-8647-2169;
NR 56
TC 28
Z9 28
U1 0
U2 38
PU WILEY
PI HOBOKEN
SN 0962-8770
EI 1467-8608
J9 BUS ETHICS
JI Bus. Ethics
PD APR
PY 2014
VL 23
IS 2
BP 218
EP 233
DI 10.1111/beer.12045
PG 16
WC Business; Ethics
GA AB9XG
UT WOS:000332148400007
OA Green Accepted
DA 2020-08-12
ER
PT J
AU Kader, HA
Adams, M
Hardwick, P
Kwon, WJ
AF Kader, Hala Abdul
Adams, Mike
Hardwick, Philip
Kwon, W. Jean
TI Cost efficiency and board composition under different takaful insurance
business models
SO INTERNATIONAL REVIEW OF FINANCIAL ANALYSIS
LA English
DT Article
DE Takaful insurance; Cost efficiency; Board composition; Corporate
governance; Nonparametric analysis; Data envelopment analysis
ID CORPORATE GOVERNANCE; PROFIT EFFICIENCY; PERFORMANCE; DETERMINANTS;
OWNERSHIP; COMPANIES; BANK; SIZE; FIRM
AB This study examines the link between cost efficiency and board composition in
non-life takaful insurance firms operating in 17 Islamic countries using panel data
for 2004-2007. Nonparametric data envelopment analysis (DEA) is used to compute
cost efficiency scores and a second-stage logit transformation regression model is
then employed to test the influence of corporate characteristics on these
efficiencies. We find that average levels of cost efficiency in takaful insurance
markets mirror the efficiency in developed non-life insurance markets. The relative
influence of board composition, such as the proportion of non-executive directors
on the board, on the cost efficiency of takaful insurers depends on its interaction
with other firm-specific characteristics such as board size. Hence, the effect of
corporate governance systems on the cost efficiency of takaful insurers can be
complicated by various firm-specific factors. Our results could have important
commercial and policy implications. (C) 2013 Published by Elsevier Inc.
C1 [Kader, Hala Abdul] Price Waterhouse Coopers London, London, England.
[Adams, Mike] Univ Bath, Sch Management, Bath BA2 7AY, Avon, England.
[Hardwick, Philip] Bournemouth Univ, Execut Business Ctr, Poole BH12 5BB,
Dorset, England.
[Kwon, W. Jean] St Johns Univ, Sch Risk Management, New York, NY USA.
RP Adams, M (corresponding author), Univ Bath, Sch Management, Bath BA2 7AY, Avon,
England.
EM hala_abdulkader@hotmail.com; m.b.adams@bath.ac.uk;
phardwick@bournemouth.ac.uk; kwon@stjohns.edu
RI Kwon, W. Jean/T-1269-2017
OI Kwon, W. Jean/0000-0003-4115-3153
NR 53
TC 13
Z9 13
U1 3
U2 39
PI NEW YORK
SN 1057-5219
EI 1873-8079
J9 INT REV FINANC ANAL
JI Int. Rev. Financ. Anal.
PD MAR
PY 2014
VL 32
BP 60
EP 70
DI 10.1016/j.irfa.2013.12.008
PG 11
GA AH9NE
UT WOS:000336468300006
OA Green Accepted
DA 2020-08-12
ER
PT B
AU Erragraguy, E
Merbouh, K
Paranque, B
AF Erragraguy, Elias
Merbouh, Kader
Paranque, Bernard
BE Atbani, FM
Trullols, C
TI How Finance Could be Embedded in Ethics: The Case of Islamic Finance
SO SOCIAL IMPACT FINANCE
SE IE Business Publishing
LA English
ID CORPORATE GOVERNANCE; BUSINESS ETHICS; PERSPECTIVE
C1 [Erragraguy, Elias] KEDGE Business Sch, Marseille, France.
[Merbouh, Kader] Univ Paris 09, F-75775 Paris 16, France.
[Paranque, Bernard] KEDGE Business Sch, Euromediterranean & Emerging Countries
Res Dept, Marseille, France.
[Paranque, Bernard] Amer Univ Sharjah, Sharjah, U Arab Emirates.
RP Erragraguy, E (corresponding author), Univ Toulon & Var, F-83957 La Garde,
France.
NR 29
TC 0
Z9 0
U1 0
U2 1
PU PALGRAVE
PI BASINGSTOKE
PA HOUNDMILLS, BASINGSTOKE RG21 6XS, ENGLAND
BN 978-1-137-37269-7; 978-1-137-37268-0
J9 IE BUS PUBLISH
PY 2014
BP 21
EP 33
D2 10.1057/9781137372697
PG 13
WC Business; Economics
GA BB3OB
UT WOS:000342919800005
DA 2020-08-12
ER
PT J
AU Al-Kahtani, FS
AF Al-Kahtani, Faleh Salem
TI Corporate Governance from the Islamic Perspective
LA English
DT Article
DE Islamic perspective; corporate governance; Islamic values
AB This article investigates corporate governance from an Islamic perspective and
offers a definition of Islam as well as the sources that underpin Islamic law:
i.e., the Qur'an and Sunnah as primary and ijma' (consensus) and qiyas (analogical
reasoning) as secondary sources. Islamic objectives are highlighted by focusing on
mal (wealth) and tawhid (Unity/Oneness of Allah). The Islamic vision on values is
appraised by illustrating accountability (hisab), justice (adalah), consultation
(shura), integrity (amanah), truthfulness (siddiq), sincerity (ikhla.), intention
(niyyah), and brotherhood (ukhuwah). However, points of view on models of corporate
governance differ greatly between Islamic and Western (Anglo-American) law. It has
been argued that corporate governance from an Islamic perspective does not
represent a modern model. This article discusses the advantages it has to offer for
Saudi corporate governance.
C1 [Al-Kahtani, Faleh Salem] Brunel Law Sch, Uxbridge, Middx, England.
RP Al-Kahtani, FS (corresponding author), Brunel Law Sch, Uxbridge, Middx, England.
EM alkahtanifaleh@yahoo.com
NR 53
TC 2
Z9 2
U1 0
U2 0
PI LEIDEN
SN 0268-0556
EI 1573-0255
J9 ARAB LAW Q
JI Arab Law Q.
PY 2014
VL 28
IS 3
BP 231
EP 256
DI 10.1163/15730255-12341277
PG 26
WC Law
SC Government & Law
GA V2D4B
UT WOS:000217478000002
DA 2020-08-12
ER
PT J
AU Ginena, K
AF Ginena, Karim
TI Shari'ah risk and corporate governance of Islamic banks
LA English
DT Article
DE Corporate Governance; Risk management; Islamic banks; Shari'ah
governance; Shari'ah risk
AB Purpose - The purpose of this paper is to help directors, senior management, and
stakeholders of Islamic banks understand shari'ah risk, a crucial consideration in
the corporate governance of Islamic banks, and its impact on these banks.
Design/methodology/approach - This conceptual paper links dispersed insights
drawn from the emerging body of shari'ah governance literature, and the guidance
issued by the Basel Committee on Banking Supervision (BCBS), the Islamic Financial
Services Board (IFSB), and the Accounting and Auditing Organization for Islamic
Financial Institutions (AAOIFI) with new insights to clarify the shari'ah risk that
Islamic banks face.
Findings - Shari'ah risk, an operational risk, poses a credible hazard to
Islamic banks and their stakeholders. Possible consequences of shari'ah non-
compliance include higher costs, financial losses, liquidity problems, bank runs,
bank failure, industry smearing and financial instability. This study defines
shariah risk, identifies credit, legal, compliance, market, and reputational risk
that it may evoke, and categorizes its causes and events.
Research limitations/implications - Future research could empirically test the
ideas posited. In this paper claims were substantiated by logic and examples.
Practical implications - The study devises an instrument for assessing shari'ah
risk, and suggests measures for directors, senior management, and regulators to
mitigate this risk.
Originality/value - This is the first study to focus on the implications of
shari'ah risk, delineate examples of events and incorporate them within the BCBS
operational risk causes, and develop a tool for measuring shari'ah risk.
C1 [Ginena, Karim] Hamad Bin Khalifa Univ, Ctr Islamic Econ & Finance, Doha, Qatar.
RP Ginena, K (corresponding author), Hamad Bin Khalifa Univ, Ctr Islamic Econ &
Finance, Doha, Qatar.
EM kginena@gmail.com
NR 48
TC 22
Z9 22
U1 0
U2 0
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2014
VL 14
IS 1
BP 86
EP +
DI 10.1108/CG-03-2013-0038
PG 19
WC Business
GA V87ZT
UT WOS:000212694400007
DA 2020-08-12
ER
PT J
AU Muneeza, A
Hassan, R
AF Muneeza, Aishath
Hassan, Rusni
TI Shari'ah corporate governance: the need for a special governance code
LA English
DT Article
DE Law; Corporate governance; Islamic finance; Islamic banking; Corporate
responsibility; Shari'ah governance
AB Purpose - With the advent of Islamic banking, a new species was added to the
banking system which was then, only dominated by the conventional banking. Islamic
banking expanded in the world within the last decade and as a result, Islamic
finance emerged as an alternative to the conventional finance. This created Islamic
companies and Islamic financial institutions which operate based on the principles
of Shari'ah or Islamic Law. These Islamic corporate bodies, like the conventional
corporate bodies do need good governance rules. In other words, they also need a
good, sophisticated "Shari'ah Governance Code'' which would be based on the
principle of Islamic Law. This is mainly because the objective of the conventional
and the Islamic Corporate governance is different as conventional corporate
governance structure is more focused on the protection of the rights of the
stakeholders; while Islamic corporate governance focus on retaining the Islamicity
of whole corporation. The objective of this research is, as the title suggests,
proposing the reasons why a special governance Code for Shari'ah corporate bodies
are needed. This paper would suggest a proper governance structure to the Islamic
companies and will also discuss why the conventional corporate governance Codes are
unsuitable for the Islamic companies.
Design/methodology/approach - This research which is primarily library based, is
an exploratory legal research in nature.
Findings - In the course of this research, it is found that there is a need to
enact a Shari'ah Corporate Governance Code due to the widespread establishment of
shari'ah compliant companies in the world. Hence, the authors had discussed the
potential content of such a Code in this paper.
Originality/value - This research will complement the knowledge based on
shari'ah corporate governance and is targeted to the existing and prospective
shari'ah compliant companies.
C1 [Muneeza, Aishath; Hassan, Rusni] Int Islamic Univ Malaysia, Kuala Lumpur,
Malaysia.
RP Muneeza, A (corresponding author), Int Islamic Univ Malaysia, Kuala Lumpur,
Malaysia.
EM munee_2@hotmail.com
RI Hassan, Rusni/S-8001-2019; Muneeza, Aishath/AAD-9293-2020
OI Muneeza, Aishath/0000-0002-1107-8511
NR 14
TC 14
Z9 14
U1 0
U2 0
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2014
VL 14
IS 1
BP 120
EP +
DI 10.1108/CG-02-2011-0015
PG 11
WC Business
GA V87ZT
UT WOS:000212694400009
DA 2020-08-12
ER
PT S
AU Muneeza, A
AF Muneeza, Aishath
BE Beseiso, FH
TI SHARI'AH GOVERNANCE APPLICABLE TO ISLAMIC BANKS IN MALAYSIA: EFFECT OF
ISLAMIC FINANCIAL SERVICES ACT 2013
SO DEVELOPING ROLE OF ISLAMIC BANKING AND FINANCE: FROM LOCAL TO GLOBAL
PERSPECTIVES
SE Contemporary Studies in Economic and Financial Analysis
LA English
DE Banking; Islam; Malaysia; Shari'ah governance
AB Purpose - This chapter aims to explore the Shari'ah governance rules applied in
the Malaysian Islamic banking arena and the effect of Islamic Financial Services
Act 2013 on it.
Design/methodology/approach - This is a legal exploratory study primarily
focused on library research.
Findings - Shari'ah governance is a concept that has been developed and applied
gradually in Malaysia and the new Islamic Financial Services Act 2013 has taken it
to the next level. However, this does not mean that it has resolved the problems in
Shari'ah governance that existed before the enactment of the act.
Originality/value - Islamic Financial Services Act 2013 is a new statute that
repealed Islamic Banking Act 1983. As such, not many have reviewed this new piece
of legislation. This chapter will give insight into the evolution of Shari'ah
governance as part of corporate governance of Islamic banks in Malaysia and will
help explain the most recent developments in this arena along with the challenges.
C1 [Muneeza, Aishath] Minist Islamic Affairs, Male, Maldives.
RP Muneeza, A (corresponding author), Minist Islamic Affairs, Male, Maldives.
RI Muneeza, Aishath/AAD-9293-2020
OI Muneeza, Aishath/0000-0002-1107-8511
NR 5
TC 1
Z9 1
U1 0
U2 0
PI BINGLEY
PA HOWARD HOUSE, WAGON LANE, BINGLEY, W YORKSHIRE BD16 1WA, ENGLAND
SN 1569-3759
BN 978-1-78350-818-1; 978-1-78350-817-4
J9 CONTEMP STUD ECON FI
PY 2014
VL 95
BP 31
EP 44
DI 10.1108/S1569-3759(2014)0000095010
PG 14
GA BH7KC
UT WOS:000402604900003
DA 2020-08-12
ER
PT B
AU Lewis, MK
AF Lewis, Mervyn K.
BE Hassan, MK
Lewis, MK
TI Principles of Islamic corporate governance
SO HANDBOOK ON ISLAM AND ECONOMIC LIFE
LA English
ID STATES
C1 [Lewis, Mervyn K.] Univ S Australia, Sch Business, Adelaide, SA 5001, Australia.
[Lewis, Mervyn K.] Univ Nottingham, Money & Banking, Nottingham NG7 2RD,
England.
[Lewis, Mervyn K.] Acad Social Sci Australia, Nedlands, WA, Australia.
RP Lewis, MK (corresponding author), Univ Cambridge, Cambridge CB2 1TN, England.
NR 76
TC 0
Z9 0
U1 0
U2 2
PU EDWARD ELGAR PUBLISHING LTD
PI CHELTENHAM
PA THE LYPIATTS, 15 LANSDOWN RD, CHELTENHAM GL50 2JA, GLOS, ENGLAND
BN 978-1-78347-982-5; 978-1-78347-981-8
PY 2014
BP 243
EP 267
D2 10.4337/9781783479825
PG 25
WC Economics; Religion
SC Business & Economics; Religion
GA BE4YW
UT WOS:000372327200013
DA 2020-08-12
ER
PT J
AU Aliyu, S
AF Aliyu, Sirajo
TI SUSTAINABLE ISLAMIC BANKING: A CONCEPTUAL FRAMEWORK FOR NON-INTEREST
BANKS IN NIGERIA
SO INTERNATIONAL JOURNAL OF ECONOMICS MANAGEMENT AND ACCOUNTING
LA English
DT Article
DE Qualitative analyses; Corporate governance; Islamic banking; Banking
distress; Nigeria
AB This research proposes the use of structure, functions, capacities, Islamic
moral economic mode, banking business and accountability as consolidated framework
for Islamic banking sustainability in Nigeria. The study introduces the framework
and assesses its suitability in Nigeria using content analysis of thematic coding
units. Qualitative analyses of the six documents were carried out in the research,
out of which five of them were issued by the Central Bank of Nigeria (CBN) and the
Nigeria Deposit Insurance Corporation (NDIC) drafted the remainder document. The
paper also uses exhortations from the noble Qur0En and HadEth on good practice of
morality, justice and equity relating to business and monetary issues. The findings
reveal that all themes had met the criterion of acceptability and supported the
framework applicability and suitability in Nigeria. It is suggested for the
existing Islamic bank (Jaiz) to adopt this proposed framework for its sustenance in
the system. Finally, the paper recommends for method and data triangulation in
further research.
C1 [Aliyu, Sirajo] Fed Polytech Bauchi, Sch Business Studies, Dept Banking &
Finance, Bauchi, Nigeria.
RP Aliyu, S (corresponding author), Fed Polytech Bauchi, Sch Business Studies, Dept
Banking & Finance, Bauchi, Nigeria.
EM sirajoaliyu@yahoo.com
RI Aliyu, Sirajo/N-8154-2019
OI Aliyu, Sirajo/0000-0002-2090-3886
NR 57
TC 5
Z9 5
U1 0
U2 0
PU IIUM PRESS
PI SALANGER
PA PO BOX 70 PETALING JAYA, SALANGER, 46700, MALAYSIA
SN 1394-7680
J9 INT J ECON MANAG ACC
JI Int. J. Econ. Manag. Account.
PY 2014
VL 22
IS 1
BP 33
EP 62
PG 30
WC Economics
GA V9Q1Z
UT WOS:000408993900002
DA 2020-08-12
ER
PT J
AU Zouari, SB
Taktak, NB
AF Zouari, Sarra Ben Slama
Taktak, Neila Boulila
TI Ownership structure and financial performance in Islamic banks Does bank
ownership matter?
MANAGEMENT
LA English
DT Article
DE Financial performance; Islamic banks; Ownership concentration; Ownership
mix; Ownership structure
AB Purpose - This study aims to investigate empirically the relationship between
ownership structure (concentration and mix) and Islamic bank performance, with a
special attention to the identity of the block investor (foreign, family,
institutional and state).
Design/methodology/approach - Regression analyses are conducted to test the
impact of the identity of the first shareholders and the degree of concentration on
Islamic bank performance, using a panel data sample of 53 Islamic banks scattered
over > 15 countries from 2005 to 2009.
Findings - Results suggest that ownership is concentrated at 49 per cent, and
for 41 banks from the full sample, the ultimate owner is institutional. State
investors come in second place, followed by family ultimate shareholders. Using
return on assets and return on equity as performance measures, empirical evidence
highlights the absence of correlation between ownership concentration and Islamic
bank performance. It also reveals that the combined effort of family and state
investors is beneficial to bank performance. Results also indicate that banks with
institutional and foreign shareholders do not perform better. Empirical findings
suggest that the financial crisis impacts negatively Islamic bank performance.
Research limitations/implications - The use of dummy variables to measure the
nature of the largest owner represents the main limitation of this study. This is
due to the lack of information, as the percentage of the largest capital held
referring to owner category was available only for some banks.
Practical implications - This research has given a brighter insight into
corporate governance and bank performance in selected Islamic banking institutions.
Findings provided useful information to bank managers, investors and policy makers.
Financial performance can be improved by identifying practices associated with
ownership structure. So, it will have policy implications for Islamic banks as to
how to improve their performance. Finally, different types of bank ownership have
had different concerns about implementing corporate governance practices among
Islamic banks.
Originality/value - This work is the first of its kind for Islamic banks. It
extends previous research by examining whether ownership structure (concentration
and mix) affects performance. It also fills the gap in the literature by providing
empirical evidence on a large sample involving data from 15 countries. Finally,
manual data collection on ownership structure constitutes a large part of the
research for this paper.
C1 [Zouari, Sarra Ben Slama] ISCAE Univ Tunis, Dept Accounting & Finance, Tunis,
Tunisia.
[Taktak, Neila Boulila] ISGG Univ Gabes, Dept Accounting & Finance, Gabes,
Tunisia.
RP Zouari, SB (corresponding author), ISCAE Univ Tunis, Dept Accounting & Finance,
Tunis, Tunisia.
EM zouari_sarra@yahoo.fr
NR 33
TC 12
Z9 13
U1 0
U2 1
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2014
VL 7
IS 2
BP 146
EP 160
DI 10.1108/IMEFM-01-2013-0002
PG 15
GA V13GL
UT WOS:000214401800002
DA 2020-08-12
ER
PT J
AU Grassa, R
Matoussi, H
AF Grassa, Rihab
Matoussi, Hamadi
TI Corporate governance of Islamic banks A comparative study between GCC
and Southeast Asia countries
MANAGEMENT
LA English
DT Article
DE Corporate governance; GCC countries; Islamic bank; Shariah board; Board
of directors; CEO; Southeast Asia countries
AB Purpose - This paper aims to understand the current governance practices and
governance structure of Islamic banks (IBs) in Gulf Cooperation Council (GCC) and
Southeast Asia countries with the purpose of providing relevant information in
guiding the future development of the governance system for IBs. As well, the paper
discusses and compares the state of the governance system in GCC countries (Kuwait,
Bahrain, United Arab Emirates, Qatar and Saudi Arabia) and Southeast Asia countries
(Malaysia and Indonesia).
Design/methodology/approach - The study utilizes descriptive analysis approach
in extracting and analyzing data collected for 83 IBs observed for the period 2002-
2011. The authors test for differences in means and medians of corporate governance
attributes between a sample of IBs in GCC countries and another one for Southeast
Asia countries. They use selected variables of corporate governance of different
governance structures, namely, the ownership structure, the board of directors, the
Shariah board and the CEO attributes.
Findings - The paper findings argue that there are significant differences and
divergence of corporate governance structure of IBs in GCC countries and those in
Southeast Asia countries. This position acknowledges that there are shortcomings to
the existing governance framework for IBs which needs further improvement and
standardization.
may provide relevant guidelines in guiding the future development of corporate
governance of IBs. As well, the paper provides relevant guidelines for improving
regulations and laws covering the governance of IBs.
Originality/value - This paper provides fresh data and recent information on the
actual corporate governance system in IBs in GCC and Southeast Asia countries. As
well, the paper discusses a significant shortage in corporate governance literature
of Islamic finance.
C1 [Grassa, Rihab; Matoussi, Hamadi] Manouba Univ, ISCAE, Manouba, Tunisia.
RP Grassa, R (corresponding author), Manouba Univ, ISCAE, Manouba, Tunisia.
RI Matoussi, Hamadi/AAK-1024-2020; grassa, rihab/AAA-7623-2019
NR 18
TC 17
Z9 17
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2014
VL 7
IS 3
BP 346
EP 362
DI 10.1108/IMEFM-01-2013-0001
PG 17
GA V13HL
UT WOS:000214404400008
DA 2020-08-12
ER
PT J
AU Abdel-Baki, M
Sciabolazza, VL
AF Abdel-Baki, Monal
Sciabolazza, Valerio Leone
TI A consensus-based corporate governance paradigm for Islamic banks
LA English
DT Article
DE Corporate governance; Islamic banking; Corporate governance index
AB Purpose - Islamic banking is a viable sustainable banking model that has shown
resilience to financial crises. The aim of this research is to design a consensus-
based ethical and market-driven corporate governance index (CGI) to boost financial
performance and ensure compliance with Islamic rulings.
Design/methodology/approach - The design of the CGI is the outcome of the
feedback obtained from a cross-country survey to measure bank efforts in enhancing
corporate governance (CG) throughout the ten-year period of 2001-2011. The CGI is
divided into six core CG themes and 40 sub-themes.
Findings - First, the results of the multiple regression analysis show a
consistent positive relationship between CG and financial performance metrics.
Second, the authors detect misaligned compensation structures for directors. Third,
poor governance leads to higher risk exposures.
Research limitations/implications - CG in Islamic banks is yet an evolving
discipline and infant practice. This research aims to introduce a CGI that should
be updated and improved as the discipline evolves.
Practical implications - The research concludes by proposing a CG paradigm. The
outcome of the research could also be of use to both Islamic banks and to the
rapidly growing sustainable banking sector in designing a similar CGI and CG model
incorporating the ethical features of sustainable finance.
Social implications - The core ethos of Islam are: avoiding the exploitation of
the needy, avoiding excessively risky transactions, avoiding unethical transactions
and justice, equity and income redistribution. If properly applied, Islamic banking
will display all features of sustainable finance as well as enhance social welfare.
Originality/value - To the best of the authors' knowledge, this is the first CGI
that is based on an ethical and all-inclusive input of all stakeholders.
C1 [Abdel-Baki, Monal] Amer Univ Cairo, Dept Econ, Sch Business, New Cairo, Egypt.
[Abdel-Baki, Monal] Durban Univ Technol, Durban, South Africa.
[Sciabolazza, Valerio Leone] Univ Roma La Sapienza, Rome, Italy.
RP Abdel-Baki, M (corresponding author), Amer Univ Cairo, Dept Econ, Sch Business,
New Cairo, Egypt.
EM monalbak@aucegypt.edu
NR 56
TC 7
Z9 7
U1 0
U2 0
PI BINGLEY
SN 1755-4179
PY 2014
VL 6
IS 1
BP 93
EP 108
DI 10.1108/QRFM-01-2013-0002
PG 16
GA V12HJ
UT WOS:000214336600006
DA 2020-08-12
ER
PT J
AU Srairi, S
AF Srairi, Samir
TI Ownership structure and risk-taking behaviour in conventional and
Islamic banks: Evidence for MENA countries
SO BORSA ISTANBUL REVIEW
LA English
DT Article
DE Commercial banks; Ownership structure; Bank risk-taking; Islamic banks;
MENA countries
ID CORPORATE GOVERNANCE; EFFICIENCY; PERFORMANCE; IMPACT; INCOME; COST
AB This paper investigates the impact of ownership structure, measured by two
dimensions: nature of owners and ownership concentration, on bank risk, controlling
for country and bank specific traits and other bank regulations. Particularly, it
compares risk-taking behaviour of conventional and Islamic banks in 10 MENA
countries under three types of bank ownership (family-owned, company-owned and
state-owned banks) over the period 2005-2009. The result shows a negative
association between ownership concentration and risk. We also find that different
categories of shareholders have different risk attitudes. Family-owned banks have
incentives to take less risk. State-owned banks display higher risk and have
significantly greater proportions of non-performing loans than other banks. By
comparing conventional and Islamic banks, the empirical findings show that private
Islamic banks are as stable as private conventional banks. However, Islamic banks
have a lower exposure to credit risk than conventional banks. Copyright (C) 2013,
Borsa Istanbul Anonim Sirketi. Production and hosting by Elsevier B.V.
C1 [Srairi, Samir] Univ Jendouba, Fac Law Econ & Management Jendouba, Lab Rech Econ
Quantitat Dve LAREQUAD, 14 Ave Tunis, Ariana 2080, Tunisia.
RP Srairi, S (corresponding author), Univ Jendouba, Fac Law Econ & Management
Jendouba, Lab Rech Econ Quantitat Dve LAREQUAD, 14 Ave Tunis, Ariana 2080, Tunisia.
EM Srairisamir3@gmail.com
NR 74
TC 43
Z9 43
U1 0
U2 0
PU ELSEVIER
PI AMSTERDAM
SN 2214-8450
EI 2214-8469
J9 BORSA ISTANB REV
JI Borsa Istanb. Rev.
PD DEC
PY 2013
VL 13
IS 4
BP 115
EP 127
DI 10.1016/j.bir.2013.10.010
PG 13
GA VC6JY
UT WOS:000434506100006
OA DOAJ Gold
DA 2020-08-12
ER
PT J
AU Quttainah, MA
Song, L
Wu, Q
AF Quttainah, Majdi A.
Song, Liang
Wu, Qiang
TI Do Islamic Banks Employ Less Earnings Management?
SO JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING
LA English
DT Article
ID AUDIT COMMITTEE; BOARD; RELIGION
AB In this article, we examine whether Islamic banks are less likely to manage
their earnings than non-Islamic banks and how Islamic banks' unique corporate
governance system, especially Shari'ah Supervisory Boards, impacts earnings
management behaviors within Islamic banks. Using a sample of Islamic banks and
their matched non-Islamic banks in 15 countries, we find that, first, Islamic banks
are less likely to conduct earnings management as measured by both earnings loss
avoidance and abnormal loan loss provisions. Second, there are no significantly
different earnings management behaviors between Islamic banks with and without
Shari'ah Supervisory Boards. Third, several Shari'ah Supervisory Board
characteristics, such as size and the presence of members from Auditing
Organization for Islamic Financial Institutions, are important determinants of the
earnings management of Islamic banks who have Shari'ah Supervisory Boards.
C1 [Quttainah, Majdi A.] Kuwait Univ, Coll Business Adm, Safat 13060, Kuwait.
[Song, Liang] Michigan Technol Univ, Sch Business & Econ, Houghton, MI 49931
USA.
[Wu, Qiang] Rensselaer Polytech Inst, Lally Sch Management & Technol, Troy, NY
12180 USA.
RP Quttainah, MA (corresponding author), Kuwait Univ, Coll Business Adm, POB 5969,
Safat 13060, Kuwait.
EM mquttainah@cba.edu.kw; liangs@mtu.edu; wuq2@rpi.edu
NR 39
TC 33
Z9 33
U1 0
U2 42
PU WILEY
PI HOBOKEN
SN 0954-1314
EI 1467-646X
J9 J INT FIN MANAG ACC
JI J. Int. Financ. Manag. Account.
PD SEP
PY 2013
VL 24
IS 3
BP 203
EP 233
DI 10.1111/jifm.12011
PG 31
GA 213HS
UT WOS:000324047200001
DA 2020-08-12
ER
PT B
AU Archer, S
Karim, RAA
AF Archer, Simon
BE Archer, S
Karim, RAA
TI Specific Corporate Governance Issues in Islamic Banks
SO ISLAMIC FINANCE: THE NEW REGULATORY CHALLENGE, 2ND EDITION
LA English
ID SHARING INVESTMENT ACCOUNTS; SUBORDINATED DEBT; CAPITAL ADEQUACY
C1 [Archer, Simon; Karim, Rifaat Ahmed Abdel] Int Ctr Educ Islamic Finance INCEIF,
[Archer, Simon] Univ Surrey, Guildford GU2 5XH, Surrey, England.
[Archer, Simon] Univ Wales, Bangor, Gwynedd, Wales.
RP Archer, S (corresponding author), Univ Reading, ICMA Ctr, Henley Business Sch,
Reading RG6 2AH, Berks, England.
NR 58
TC 0
Z9 0
U1 0
U2 1
PU BLACKWELL SCIENCE PUBL
PI OXFORD
PA OSNEY MEAD, OXFORD OX2 0EL, ENGLAND
BN 978-1-118-24706-8; 978-1-118-24704-4
PY 2013
BP 417
EP 449
D2 10.1002/9781118628973
PG 33
GA BA1JD
UT WOS:000332637100023
DA 2020-08-12
ER
PT J
AU Kamla, R
Rammal, HG
AF Kamla, Rania
Rammal, Hussain G.
TI Social reporting by Islamic banks: does social justice matter?
SO ACCOUNTING AUDITING & ACCOUNTABILITY JOURNAL
LA English
DT Article
DE Islam; Banks; Accounting; Finance; Social justice; Islamic banks;
Islamic accounting and reporting; Poverty eradication; Immanent
critique; Content analysis
ID CORPORATE GOVERNANCE; PERFORMANCE; ACCOUNTABILITY; ACCOUNTANTS;
IMPERIALISM; ECONOMY; FINANCE; STATES; ZAKAT
AB Purpose - This study examines social reporting by Islamic banks with special
emphasis on themes related to social justice. By using critical theory and
"immanent critique", the study attempts to explain and delineate reasons for
disclosures and silences in Islamic banks' annual reports and web sites vis-a-vis
social justice.
Design/methodology/approach - The approach taken was a content analysis of
annual reports and web sites of 19 Islamic banks.
Findings - Islamic banks' disclosures emphasise their religious character
through claims that they adhere to Sharia's teachings. Their disclosures, however,
lack specific or detailed information regarding schemes or initiatives vis-a-vis
poverty eradication or enhancing social justice.
Research limitations/implications - Limitations associated with content analysis
of annual reports and internet web sites apply. This study focuses on Islamic
banks' social roles. Further studies of banks' social roles in society in general
are of interest.
Practical implications - Drawing attention of Islamic banks and other
stakeholders to the gap between the rhetorical religious and ethical claims of
Islamic banks and their activities (as depicted through their disclosures) opens up
the possibility of a positive change in Islamic banks' actual social roles.
Originality/value - The study fills a gap in both social accounting and Islamic
accounting literatures with its emphasis on social justice and poverty eradication.
The study contributes to the very scarce literature linking religion (especially
Islam), critical theory, social accounting and Islamic accounting. It goes beyond
previous research in Islamic accounting literature by exposing contradictions in
the Islamic banking industry's rhetoric regarding their social role in society.
C1 [Kamla, Rania] Heriot Watt Univ, Sch Management & Languages, Edinburgh,
Midlothian, Scotland.
[Rammal, Hussain G.] Univ S Australia, Int Grad Sch Business, Adelaide, SA 5001,
Australia.
RP Rammal, HG (corresponding author), Univ S Australia, Int Grad Sch Business,
Adelaide, SA 5001, Australia.
EM hussain.rammal@unisa.edu.au
RI Rammal, Hussain Gulzar/F-4636-2013
OI Rammal, Hussain Gulzar/0000-0002-3346-080X; Kamla,
Rania/0000-0001-6813-0475
NR 175
TC 34
Z9 34
U1 1
U2 31
PI BINGLEY
SN 0951-3574
EI 1758-4205
J9 ACCOUNT AUDIT ACCOUN
JI Account . Audit Account.
PY 2013
VL 26
IS 6
BP 911
EP 945
DI 10.1108/AAAJ-03-2013-1268
PG 35
GA 212VD
UT WOS:000324010000002
DA 2020-08-12
ER
PT J
AU Magalhaes, R
Al-Saad, S
AF Magalhaes, Rodrigo
Al-Saad, Shereen
TI Corporate governance in Islamic financial institutions: the issues
surrounding unrestricted investment account holders
LA English
DT Article
DE Kuwait; Bahrain; United Arab Emirates; Malaysia; Financial institutions;
Islam; Corporate governance; Investments; Islamic financial
institutions; Effectiveness; Protecting; Maximizing
AB Purpose - It has been observed that the practices of corporate governance in
Islamic financial institutions (IFIs) do not sufficiently address the rights of
unrestricted investment account holders (UIAHs). Given that such account holders
are generally the ones who bear the risk of the performance of the investment pool,
the purpose of this paper is to investigate the relationship between corporate
governance practice and the safeguarding of the interests of UIAHs as major
stakeholders.
Design/methodology/approach - A qualitative research methodology is applied to a
sample of 16 managers from 12 Islamic financial institutions from Kuwait, Bahrain,
UAE and Malaysia. A theoretical model built around the GC principles featured in
the King report underpins the research design.
Findings - The findings reveal that the current practices implemented by IFIs in
protecting the rights of UIAHs are not effective enough, in the light of standard
corporate governance principles. It was also found that lack of responsibility,
accountability and independence in decision making, as corporate governance
principles, is contributing to the ineffectiveness of current practices in the
investigated IFIs.
Research limitations/implications - The major limitation of the research is the
small size of the sample used. Hence, the work reported here must be considered as
exploratory and a further study employing a larger sample is recommended as future
research.
Practical implications - A number of recommendations for corporate governance
practice in IFIs aimed at the unique relationship between IFIs and UIAHs are put
forward.
Originality/value - The originality and the value of this paper rest on its
topic which, to the best of the researchers' knowledge, has not been investigated
empirically before. Hence, the authors believe it will be of value not only to
academics but mostly to practitioners in IFIs.
C1 [Magalhaes, Rodrigo] Kuwait Maastricht Business Sch, Informat Syst & Org,
Salmiya, Kuwait.
[Al-Saad, Shereen] Kuwait Maastricht Business Sch, Salmiya, Kuwait.
RP Magalhaes, R (corresponding author), Kuwait Maastricht Business Sch, Informat
Syst & Org, Salmiya, Kuwait.
EM rodrigo@kmbs.edu.kw
OI Magalhaes, Rodrigo/0000-0002-0041-0291
NR 26
TC 17
Z9 17
U1 0
U2 0
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2013
VL 13
IS 1
BP 39
EP +
DI 10.1108/14720701311302404
PG 20
WC Business
GA V87XV
UT WOS:000212689400003
DA 2020-08-12
ER
PT J
AU Darmadi, S
AF Darmadi, Salim
TI Corporate governance disclosure in the annual report An exploratory
study on Indonesian Islamic banks
SO HUMANOMICS
LA English
DT Article
DE Corporate governance; Disclosure; Indonesia; Islamic banks; Banks
AB Purpose - The purpose of this paper is to explore disclosure on corporate
governance mechanisms in annual reports of Islamic commercial banks in Indonesia.
Design/methodology/approach - Employing a sample comprising seven Islamic
commercial banks in Indonesia, the present study constructs the so-called Corporate
Governance Disclosure Index (CGDI) to score the banks' disclosure level. Corporate
governance mechanisms addressed in this study include Shariah Supervisory Board,
the Board of Commissioners, the Board of Directors, board committees, internal
control and external audit, and risk management.
Findings - It is revealed that Bank Muamalat and Bank Syariah Mandiri, the
county's two largest and oldest Islamic commercial banks, score higher than their
peers. Disclosure of the sample banks on some dimensions, such as board members and
risk management, is found to be strong. On the other hand, disclosure on internal
control and board committees tends to be weak.
Practical implications - This study shows that the average disclosure level
among the sample banks is relatively low. Hence, this result has important
implications for the enhancement of corporate governance disclosure of Islamic
banks, thereby wider acceptance and enhanced reputation could be gained.
Originality/value - This paper is believed to be among the first to explore the
practice of disclosure on corporate governance mechanisms among Islamic commercial
banks. Additionally, it focuses on Indonesia, the largest Muslim country that has a
different institutional setting from that in other Muslim countries.
C1 [Darmadi, Salim] Indonesian Capital Market, Jakarta, Indonesia.
[Darmadi, Salim] Financial Inst Supervisory Agcy Bapepem LK, Jakarta, Indonesia.
[Darmadi, Salim] Indonesian Coll State Accountancy STAN, Tangerang Selatan,
Indonesia.
RP Darmadi, S (corresponding author), Indonesian Capital Market, Jakarta,
Indonesia.
EM salim.darmadi@bapepam.go.id
RI Darmadi, Salim/Y-9427-2019
OI Darmadi, Salim/0000-0002-7705-2672
NR 34
TC 18
Z9 18
U1 0
U2 0
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2013
VL 29
IS 1
BP 4
EP 23
DI 10.1108/08288661311299295
PG 20
WC Economics
GA V61IV
UT WOS:000210892800001
DA 2020-08-12
ER
PT J
AU Wasiuzzaman, S
Gunasegavan, UN
AF Wasiuzzaman, Shaista
Gunasegavan, Umadevi
TI Comparative study of the performance of Islamic and conventional banks
The case of Malaysia
SO HUMANOMICS
LA English
DT Article
DE Performance; Islamic bank; Corporate governance; Economic conditions;
Banks; Malaysia
ID BOARD SIZE; PROFITABILITY; DETERMINANTS
AB Purpose - The aim of this paper is to analyze the differences in bank
characteristics of Islamic and conventional banks in Malaysia, especially when it
comes to their profitability, capital adequacy, liquidity, operational efficiency
and asset quality are also considered. Corporate governance issues and economic
conditions are also included in the analysis.
Design/methodology/approach - A total of 14 banks (nine conventional and five
Islamic) were considered over the period of 2005- 2009. Three stages of analysis
were performed. First, descriptive statistics were computed to understand the
differences in characteristics of the two types of banks. Next, to determine
whether these differences were significant, independent t- tests were carried out
on each variable. Finally, regression analysis was carried out to analyze the
effect of the variables on bank profitability.
Findings - It is found that the return on average assets, bank size and board
size values of conventional banks was higher compared to Islamic banks. The other
variables-operational efficiency, asset quality, liquidity, capital adequacy and
board independence-were higher for Islamic banks. Significant differences between
the two bank types were found for all the variables, except for profitability and
board independence. All variables except for liquidity, board characteristics and
type of bank, were found to be highly significant in affecting profitability.
Originality/value - This paper looks at the differences between Islamic and
conventional banking systems in Malaysia. Contrasting results were found for the
independent t-tests and regression analysis, which makes it an interesting study
that should be pursued further.
C1 [Wasiuzzaman, Shaista] Multimedia Univ, Fac Management, Cyberjaya, Malaysia.
[Gunasegavan, Umadevi] Multimedia Univ, MBA Ctr, Cyberjaya, Malaysia.
RP Wasiuzzaman, S (corresponding author), Multimedia Univ, Fac Management,
Cyberjaya, Malaysia.
EM shaista@mmu.edu.my
RI Wasiuzzaman, Shaista/H-8403-2019
OI Wasiuzzaman, Shaista/0000-0002-0244-2174
NR 57
TC 17
Z9 18
U1 0
U2 1
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2013
VL 29
IS 1
BP 43
EP 60
DI 10.1108/08288661311299312
PG 18
WC Economics
GA V61IV
UT WOS:000210892800003
DA 2020-08-12
ER
PT J
AU Grassa, R
AF Grassa, Rihab
TI Shariah supervisory system in Islamic financial institutions New issues
and challenges: a comparative analysis between Southeast Asia models and
GCC models
SO HUMANOMICS
LA English
DT Article
DE Malaysia; Islamic financial institutions; Indonesia; GCC countries;
Shariah governance; Shariah supervisory board
AB Purpose - The aim of this paper is to review the different steps of development
of Shariah governance system and to discuss the different practices of Shariah
governance in Islamic financial institutions internationally.
Design/methodology/approach - The paper has a particular focus on the other
contributions of relevant literature and existing laws and regulations for Islamic
financial institutions which provides a reflective synthesis on practical work of
Shariah governance system across different jurisdictions.
Findings - The main attention of this paper is Islamic financial institutions
and a key issue arising is that the typical structure, functions, duties and
responsibilities are different from country to country.
Practical implications - The paper put forward various suggestions to the
regulatory authorities and to the Islamic Financial Services Board to enhance the
Shariah governance system and to standardize the different practices of Shariah
governance worldwide.
Originality/value - The originality and the value of the paper lie in its
critical review of current Shariah governance practices worldwide. As well, some
key issues pertaining to Shariah governance in Islamic financial institutions are
addressed to encourage further investigation by academics and practitioners in the
field.
C1 [Grassa, Rihab] Higher Inst Accountancy & Entrepreneurial Adm ISC, La Manouba,
Tunisia.
[Grassa, Rihab] Univ Manouba, Higher Inst Accounting & Adm, Manouba, Tunisia.
RP Grassa, R (corresponding author), Higher Inst Accountancy & Entrepreneurial Adm
ISC, La Manouba, Tunisia.
NR 26
TC 24
Z9 24
U1 0
U2 0
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2013
VL 29
IS 4
BP 333
EP +
DI 10.1108/H-01-2013-0001
PG 17
WC Economics
GA V61KC
UT WOS:000210896100006
DA 2020-08-12
ER
PT J
AU Choudhury, MA
Alam, MN
AF Choudhury, Masudul Alam
Alam, Mohammad Nurul
TI Corporate governance in Islamic perspective
MANAGEMENT
LA English
DT Article
DE Epistemology; Comparative Islamic finanec theory; Islamic corporate
governance; Finance and society; Islam; Finance
AB Purpose - The purpose of this paper is to delineate the substantially different
theory and application of corporate governance idea in Islamic financial theory
contrary to the perceived one in the literature. Thus, a comparative and
contrasting examination of the topic is provided.
Design/methodology/approach - A theoretical and extensively comparative study of
the literature to bring out the objective of presenting the systemic theory of
Islamic corporate governance underlying its specific epistemological foundations.
Findings - The hetrodox theory of Islamic finance in regards to the theme of
corporate governance is shown to be a viable alternative way of understanding this
topic in the light of the particular Islamic epistemological premise. Thus, Islamic
financial perspective, exemplified here in terms of corporate governance, is
expounded.
Research limitations/implications - Empirical extension can be made but such
epistemological responses are presently not available from the Islamic financial
institutions because of their imperfect premise on the epistemology of unity of
knowledge and organization on which the theory of Islamic corporate governance
rests.
Social implications - A vast social implication of corporate govarnance is
opened by its epistemological inquiry comprehending integrated decision-making and
systemic complemenatrities expending across society at large. Thereby, a socio-
financial theory of corporate governance in the epistemological context is
elaborated upon.
Originality/value - This is a pathbreaking paper premised on its epistemological
approach of unity of knowledge and learning systems as a distinct contribution in
the theory of corporate governance in the field of ethical socio-financial
perspective.
C1 [Choudhury, Masudul Alam] Sultan Qaboos Univ, Dept Econ & Finance, Muscat, Oman.
[Alam, Mohammad Nurul] Canadian Univ Dubai, Dept Business Adm, Dubai, U Arab
Emirates.
RP Choudhury, MA (corresponding author), Sultan Qaboos Univ, Dept Econ & Finance,
Muscat, Oman.
EM masudc@squ.edu.om
NR 37
TC 14
Z9 14
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2013
VL 6
IS 3
BP 180
EP 199
DI 10.1108/IMEFM-10-2012-0101
PG 20
GA V13EO
UT WOS:000214396900002
DA 2020-08-12
ER
PT J
AU Ismail, TH
Abdelmoniem, Z
AF Ismail, Tariq
Abdelmoniem, Zakia
TI Stock option fraud prevention in Islamic country: does corporate
governance matter?
LA English
DT Article
DE Islamic culture; Stock option fraud; Corporate governance; Insider
directors; Outside directors; Audit committee; Disclosure and
transparency; Firm characteristics; Emerging economics; Public-held
companies; Egyptian Stock Exchange (EGX); Islam
ID DIRECTORS; COMPENSATION; MANAGEMENT; AWARDS
AB Purpose - This paper aims to investigate the extent to which companies in one of
the Islamic culture countries, Egypt, are complying with the Islamic implementation
of the Anglo-Saxon model of corporate governance and testing the impact, if any, of
such compliance on mitigating of stock option fraud incentives.
Design/methodology/approach - A logistic regression model is used to examine the
effects of board of directors, audit committee, ownership structure and other firm
characteristics on the likelihood of stock option fraud. The analysis is based on
the data for stock option grants obtained during the period from 2006 to 2009.
Findings -The results suggest that the rate of compliance with the Islamic
implementation of the Anglo-Saxon model of corporate governance in Egyptian public-
held companies is low. Weak corporate governance allows executives to exercise
greater influence over the board of directors and audit committee decisions.
Furthermore, a low level of disclosure, duality of CEO, high percentage of insiders
in board of directors, auditor turnover, and management ownership are among the
factors that increase the likelihood of stock option fraud in the Egyptian setting.
Research limitations/implications - The results are constrained by the proxies
used to define stock option fraud. Additionally, the limited number of companies
with stock option grants in Egypt might affect the results.
Originality/value - This paper provides insights into exposing stock option
fraud by Egyptian public-held companies and sheds light on the effective role of
corporate governance mechanisms to mitigate this phenomenon. This would help policy
setters to enhance compliance with the Anglo-Saxon model of corporate governance
and develop a comprehensive Shari'ah model of corporate governance that reduces
stock option fraud.
C1 [Ismail, Tariq] Cairo Univ, Fac Commerce, Accounting, Giza, Egypt.
[Ismail, Tariq] Majmaah Univ, Coll Business Adm, Majmaah, Saudi Arabia.
[Abdelmoniem, Zakia] Akhbar El Youm Acad, Accounting, Cairo, Egypt.
RP Ismail, TH (corresponding author), Cairo Univ, Fac Commerce, Accounting, Giza,
Egypt.
EM thassaneen@cu.edu.eg
RI Ismail, Traiq H/G-5488-2014
OI Ismail, Tariq/0000-0001-9258-4282
NR 71
TC 0
Z9 0
U1 0
U2 0
PI BINGLEY
SN 1985-2517
EI 2042-5856
PY 2013
VL 11
IS 1
SI SI
BP 4
EP 28
DI 10.1108/JFRA-03-2013-0013
PG 25
GA V72RP
UT WOS:000211659200001
DA 2020-08-12
ER
PT J
AU Abdullah, WAW
Percy, M
Stewart, J
AF Abdullah, Wan Amalina Wan
Percy, Majella
Stewart, Jenny
TI Shari'ah disclosures in Malaysian and Indonesian Islamic banks The
Shari'ah governance system
LA English
DT Article
DE Corporate governance; Shari'ah Supervisory Board; Islamic banks;
Disclosure
ID SOCIAL-RESPONSIBILITY DISCLOSURE; CORPORATE GOVERNANCE; PERFORMANCE;
MANAGEMENT; ISSUES
AB Purpose - The paper aims to contribute to the discussion on Shari'ah governance
systems by examining the extent of disclosure on the Shari'ah Supervisory Board
(SSB) as well as the content of the Board's report in the annual reports of 23
Islamic banks in Malaysia and Indonesia. The paper also investigates the
disclosures about zakat (Islamic levy).
Design/methodology/approach - The study is a cross-sectional analysis of annual
report disclosures in the year 2009. The paper uses both disclosure indices and
content analysis to measure the extent of disclosures about SSB and zakat. The
paper also tests hypotheses examining the relationship between SSB characteristics
and the extent of the SSB-related and zakat disclosures.
Findings - The results indicate that SSB-related and zakat disclosures are still
limited, with only four banks disclosing more than half of the SSB Index. What is
noticeable is the low level of disclosure on sensitive matters. Among the factors
associated with SSB-related disclosures are cross-membership with other SSBs and
the expertise of SSB members in accounting, banking, economics or finance.
Originality/value - The study is the first to provide an in-depth analysis of
Shari'ah disclosures in Malaysian and Indonesian Islamic banks. As such, this study
makes an important contribution to the debate on Shari'ah governance systems and
has implications for regulators and standard setters. The Malaysian and Indonesian
standard setters could play an important role in ascertaining appropriate
disclosure requirements relating to the SSB as the study suggests that the level of
disclosure is less than expected. The evidence also suggests the need for mandatory
enforcement of standards on these types of disclosures.
C1 [Abdullah, Wan Amalina Wan; Percy, Majella; Stewart, Jenny] Griffith Univ, Dept
Accounting Finance & Econ, Nathan, Qld, Australia.
RP Percy, M (corresponding author), Griffith Univ, Dept Accounting Finance & Econ,
Nathan, Qld, Australia.
EM m.percy@griffith.edu.au
NR 90
TC 15
Z9 15
U1 0
U2 0
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2013
VL 4
IS 2
BP 100
EP 131
DI 10.1108/JIABR-10-2012-0063
PG 32
GA V20KU
UT WOS:000214886300001
DA 2020-08-12
ER
PT J
AU Bukhari, KS
Awan, HM
Ahmed, F
AF Bukhari, Khuram Shahzad
Awan, Hayat M.
Ahmed, Faareha
TI An evaluation of corporate governance practices of Islamic banks versus
Islamic bank windows of conventional banks A case of Pakistan
SO MANAGEMENT RESEARCH REVIEW
LA English
DT Article
DE Pakistan; Banks; Islam; Corporate governance; Islamic banks; Islamic
corporate governance; Shari'ah compliance; Customer satisfaction;
Analytic hierarchy process
ID ECONOMICS; BOARD
AB Purpose - The purpose of this paper is to explore the perceived importance of
management about various corporate governance dimensions being practiced in the
Pakistani Islamic banking context.
Design/methodology/approach - AHP is applied to analyze the corporate governance
indexes and its dimension of five Islamic banks and 12 conventional banks which are
providing Islamic banking facilities (Islamic bank window) throughout Pakistan.
These dimensions included board of directors (BOD), Shari'ah supervisory board
(SSB), audit, investment account holders (IAH), and information disclosure &
transparency.
Findings - The study reveals that the most significant dimensions which affect
the corporate governance in Islamic banks are BOD and SSB, while the significant
factors for Islamic banking windows are almost all dimensions of corporate
governance. The correlation, regression, and ANOVA tests are applied to check the
contributions of various factors of corporate governance mechanisms. These results
indicate that there is a significant difference between Islamic banks and Islamic
banking windows regarding the BOD and SSB. On the other hand, no significant
difference is seen for the rest of the factors. The dissatisfaction level of
customers reduces with the increase in the audit and BOD governance and all other
factors have no impact in the case of Islamic banking windows; whereas in Islamic
banks, in addition to audit and the SSB, information disclosure also significantly
reduces the dissatisfaction level of customers. The concern of customers decreases
significantly with the increasing level of IAH in the case of Islamic banking
windows whereas in the case of Islamic banks a significant impact is seen for BOD,
information disclosure, audit and IAH, but improvement in the governance of these
rather increases the concern of customers toward compliance of Shari'ah and SSB has
no contribution towards the concern of customers.
Originality/value - This study has practical significance for conventional and
Islamic banking policy makers for understanding the requirements of their
stakeholders and aligning themwith the fundamentals of Shari'ah compliance
according to the guidelines provided by the code of corporate governance so as to
get better insight into the relationship between customers'motives behind using
Islamic banking products.
C1 [Bukhari, Khuram Shahzad; Ahmed, Faareha] Bahauddin Zakariya Univ, Inst
Management Sci, Multan, Pakistan.
[Awan, Hayat M.] Air Univ, Multan, Pakistan.
RP Bukhari, KS (corresponding author), Bahauddin Zakariya Univ, Inst Management
Sci, Multan, Pakistan.
EM khurambukhari@bzu.edu.pk
RI Shahzad, Syed Khuram/H-2489-2016
OI Shahzad, Syed Khuram/0000-0003-1173-8089
NR 46
TC 18
Z9 18
U1 0
U2 1
PI BINGLEY
SN 2040-8269
EI 2040-8277
J9 MANAG RES REV
JI Manag. Res. Rev.
PY 2013
VL 36
IS 4
SI SI
BP 400
EP 416
DI 10.1108/01409171311315003
PG 17
WC Management
GA V98UE
UT WOS:000213423500006
DA 2020-08-12
ER
PT J
AU Wan-Ni, L
AF Wan-Ni, Lai
TI Faith matters? A closer look at the performance of belief-based equity
investments
SO JOURNAL OF ASSET MANAGEMENT
LA English
DT Article
DE asset pricing; asset allocation; portfolio management
ID SOCIAL-RESPONSIBILITY
AB This study examines the performance and risk of indexes for US and European
stocks that account for non-financial 'beliefs', namely, the ESG (Environmental,
social and corporate governance) indexes, Islamic indexes and Christian indexes. To
explore if such beliefs matter for investment outcomes, we compare these indexes to
their respective benchmarks and to indexes of different belief. Our results show
that the majority of performance of all the belief-based indexes is driven by their
benchmarks, although the choice of belief in these indexes only accounts for a
small fraction of the indexes' performance. Therefore, we conclude that belief-
based indexes are attractive for investors who are merely looking to include their
belief without expecting abnormal performance over the standard benchmarks in their
investments. However, for investors who are seeking for more pronounced differences
in risk-return characteristics from a belief-based investment, it may be necessary
to go beyond such belief-based indexes and look for alternative ways of integrating
these beliefs in their investment process.
C1 [Wan-Ni, Lai] Grad Business Sch Euromed Management, Finance, Rue Antoine
Bourdelle,Domaine Luminy BP 921, F-13288 Marseille 9, France.
RP Wan-Ni, L (corresponding author), Grad Business Sch Euromed Management, Finance,
Rue Antoine Bourdelle,Domaine Luminy BP 921, F-13288 Marseille 9, France.
EM wanni.lai@euromed-management.com
NR 14
TC 0
Z9 0
U1 0
U2 0
PI BASINGSTOKE
SN 1470-8272
EI 1479-179X
J9 J ASSET MANAG
JI J. Asset Manag.
PD DEC
PY 2012
VL 13
IS 6
BP 421
EP 436
DI 10.1057/jam.2012.20
PG 16
GA V11ZG
UT WOS:000214315500005
DA 2020-08-12
ER
PT J
AU Archer, S
Karim, RAA
AF Archer, Simon
TI The structure, regulation and supervision of Islamic banks
LA English
DT Article
DE Islamic banks; supervision; regulation; profit sharing investment
accounts; capital adequacy; corporate governance
AB A key feature of Islamic banks is their use of Unrestricted Profit Sharing (and
Loss Bearing) Investment Accounts (UPSIA) in place of conventional interest-bearing
deposits. In the first place, this raises a supervisory issue: UPSIA are, strictly
speaking, investment (that is, capital market) products, rather than banking
products. Hence, they call for a regulatory and supervisory approach that differs
from that applied to banking deposits by banking regulators and supervisors. In
addition, UPSIA give rise to particular problems as regards both the regulation and
supervision of capital adequacy, and also corporate governance. Moreover, UPSIA do
not meet the requirements of the banking regulations in North American and Western
European jurisdictions, and this constitutes a significant barrier to their
development in those jurisdictions. In the second place, this characteristic of
Islamic banks raises a structural issue: if UPSIA were used to raise funds, not by
Islamic banks themselves, but by fund management companies associated with them
(for example, as subsidiaries or as fellow subsidiaries of a common parent), then
not merely would the barrier just mentioned be removed, but the application to
UPSIA of more appropriate regulatory and supervisory approaches would be greatly
facilitated. Last but not least, the rights of UPSIA holders in a winding-up of an
Islamic bank need to be clarified, as (bsent misconduct or negligence) they are not
creditors of the bank but have an ownership claim to some of the assets held by it.
This article sets out in more detail an approach that would permit these benefits
to be achieved. In doing so, we highlight the challenges faced by the Islamic
Financial Services Board in developing appropriate regulatory and supervisory
regimens for capital adequacy and corporate governance in Islamic banks.
C1 [Archer, Simon] Univ Reading, Int Capital Market Assoc Ctr, Henley Business Sch,
Reading RG6 6BA, Berks, England.
[Archer, Simon; Karim, Rifaat Ahmed Abdel] AAOIFI, Manama, Bahrain.
[Archer, Simon; Karim, Rifaat Ahmed Abdel] IFSB, Kuala Lumpur, Malaysia.
[Karim, Rifaat Ahmed Abdel] Int Ctr Educ Islam Finance, Kuala Lumpur, Malaysia.
RP Archer, S (corresponding author), Univ Reading, Int Capital Market Assoc Ctr,
Henley Business Sch, Reading RG6 6BA, Berks, England.
EM s.archer@icmacentre.ac.uk
NR 15
TC 7
Z9 7
U1 0
U2 0
PI BASINGSTOKE
SN 1745-6452
EI 1750-2071
J9 J BANK REGUL
JI J. Bank Regul.
PD JUL
PY 2012
VL 13
IS 3
BP 228
EP 240
DI 10.1057/jbr.2012.3
PG 13
GA V93GC
UT WOS:000213048900005
DA 2020-08-12
ER
PT J
AU Alnasser, SAS
Muhammed, J
AF Alnasser, Sulaiman
Muhammed, Joriah
TI Introduction to corporate governance from Islamic perspective
SO HUMANOMICS
LA English
DT Review
DE Malaysia; Banking; Islam; Corporate governance; Shariah board
ID BOARD; OWNERSHIP; DIRECTORS; IMPACT
AB Purpose - The purpose of this paper is to draw an analytical review on corporate
governance from the Islamic perspective, addressing the importance of understanding
governance for Islamic institutions.
Design/methodology/approach - The study follows a browsing method that takes
into consideration the difference between normal corporate governance in
conventional banking and comparing that to Islamic banking.
Findings - It was found that it is very important to take into consideration the
corporate governance in Islamic banks because it might help to draw the right image
about the organization. In particular, how the Shariah Supervisory board functions
and how it could be linked to the Islamic banking process.
Originality/value - This paper is one of few papers that highlight the
importance of studying corporate governance for Islamic banks. The paper is of
value in describing governance in Islamic institutions and how there are many
issues under the investigation process, especially issues related to the Shariah
Supervisory board and its functionality.
C1 [Alnasser, Sulaiman; Muhammed, Joriah] Univ Sains Malaysia, Sch Management, Pulu
Pinang, Malaysia.
RP Alnasser, SAS (corresponding author), Univ Sains Malaysia, Sch Management, Pulu
Pinang, Malaysia.
EM sulimanco@gmail.com
RI Nasser, Sulaiman/H-6543-2011
NR 102
TC 27
Z9 27
U1 0
U2 0
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2012
VL 28
IS 3
BP 220
EP 231
DI 10.1108/08288661211258110
PG 12
WC Economics
GA V61IA
UT WOS:000210890700005
DA 2020-08-12
ER
PT J
AU Garas, SN
AF Garas, Samy Nathan
TI The control of the Shari'a Supervisory Board in the Islamic financial
institutions
MANAGEMENT
LA English
DT Article
DE Islam; Corporate governance; Financial institutions; Shari'a Supervisory
Board; Control; Islamic financial institutions; Board governance;
Shari'a Control Department
ID REGRESSION
AB Purpose - The Islamic financial institutions (IFIs) maintain better control over
their transactions than conventional financial institutions (CFIs) through the
existence of Shari'a Supervisory Board (SSB) and Shari'a Control Department (SCD).
The purpose of this paper is to highlight the superiority of Shari'a supervision
over external audit and Shari'a audit over internal audit. The study identifies
five independent variables that affect the SSB control: ex-ante Shari'a audit; ex-
post Shari'a audit; SCD reporting to the SSB; corrective actions of SSB towards the
management violations; and the number of SSB members.
Design/methodology/approach - The variables are articulated in five hypotheses,
which are tested by ordinary least square regression. The data are collected via a
questionnaire which was sent to the SSB members of 219 IFIs in the Gulf Cooperation
Council (GCC) countries.
Findings - The results indicate that ex-ante Shari'a audit, ex-post Shari'a
audit, and reporting of SCD are significantly related to the SSB control, whereas
corrective actions and the number of SSB members have insignificant relation.
Research limitations/implications - The research is focused on internal factors
only, without considering other external factors such as stakeholders and
regulators. Also, the research covered the GCC region alone.
Practical implications - The research recommends testing the hypotheses in other
geographies to generalize the results, and including external factors as well as
shareholders and board of directors.
Social implications - The research provides practical implications for the SCD
role and calls for merging the SCD with the traditional internal audit department
to reduce the excessive work of controlling.
Originality/value - The paper contributes to the literature gap about the SSB.
It is believed to be one of few studies that provide empirical evidence about the
SSB control in the IFIs of the GCC region.
C1 [Garas, Samy Nathan] New York Inst Technol, Manama, Bahrain.
RP Garas, SN (corresponding author), New York Inst Technol, Manama, Bahrain.
EM samynathan@nyit.edu.bh
NR 74
TC 1
Z9 1
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2012
VL 5
IS 1
BP 8
EP 24
DI 10.1108/17538391211216794
PG 17
GA V12ZJ
UT WOS:000214383400002
DA 2020-08-12
ER
PT J
AU Garas, SN
AF Garas, Samy Nathan
TI The conflicts of interest inside the Shari'a supervisory board
MANAGEMENT
LA English
DT Article
DE Shari'a supervisory board; Conflicts of interest; Islamic financial
institutions; Board governance; Corporate governance; Islam
AB Purpose - The purpose of this study is to identify the relation between the
conflicts of interest in the Shari'a Supervisory Board (SSB) in the Islamic
financial institutions (IFIs) and six independent variables: the SSB executive
position, the SSB remuneration, the relation between the SSB members and the Board
of Directors (BoD), and the multiple memberships in Islamic funds, issuers of
Islamic bonds (Sukuk), and companies trading in capital markets.
Design/methodology/approach - The variables are articulated in six hypotheses
and tested by ordinary least square regression. The data were collected via a
questionnaire which was sent to the shareholders, the BoD, and the SSB members of
all of the IFIs in the Gulf Cooperation Council (GCC) countries.
Findings - The results indicate that the SSB executive position, the relation
between the SSB members and the BoDs, and the membership in Islamic funds and
issuers of Islamic bonds are significantly related to the conflicts of interest,
whereas remuneration and membership in companies trading in capital markets have
insignificant relation.
Research limitations/implications - The paper does not address the impact of SSB
ownership in the IFIs, or the relation between the SSB and the shareholders, or the
impact of the corporate governance codes on the relationship between the IFI and
the SSB.
Practical implications - The study recommends testing the hypotheses in other
geographies to generalize the results, and measuring the impact of the SSB
ownership on the conflicts of interest as well as its relation with shareholders,
regulators, and clients.
Social implications - The paper provides practical implications to the SSB
members and the BoD in the IFIs and calls for setting a maximum number of SSBs for
each SSB member.
Originality/value - This study contributes to the literature gap of the SSB role
in the governance of IFIs. It is believed to be one of first studies that provide
empirical evidence about the SSB conflicts of interest in the IFIs of the GCC
region.
C1 [Garas, Samy Nathan] New York Inst Technol, Manama, Bahrain.
RP Garas, SN (corresponding author), New York Inst Technol, Manama, Bahrain.
EM samynathan@nyit.edu.bh
NR 60
TC 13
Z9 13
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2012
VL 5
IS 2
BP 88
EP 105
DI 10.1108/17538391211233399
PG 18
GA V12ZR
UT WOS:000214384200002
DA 2020-08-12
ER
PT J
AU Al-Tamimi, HAH
AF Al-Tamimi, Hussein A. Hassan
TI The effects of corporate governance on performance and financial
distress The experience of UAE national banks
LA English
DT Article
DE United Arab Emirates; Banks; Corporate governance; Organizational
performance; Financial distress
ID OWNERSHIP
AB Purpose - The purpose of this paper is to investigate the UAE national banks'
practices of corporate governance (CG) and the perception of the UAE national banks
of the effects of CG on performance and financial distress.
Design/methodology/approach - A modified questionnaire has been developed,
divided into two parts. The first part covers disclosure and transparency,
executive compensation, relationship with shareholders, governance structure,
policies and compliance, relationship with stakeholders, and board of directors.
The second part deals with performance and financial distress.
Findings - The results indicate that UAE banks are aware of the importance of
disclosure transparency, executive compensation, the relationship with shareholders
and stakeholders, and the role of the board of directors. The results also indicate
that the corporate governance practices of UAE national banks are acceptable. In
addition, the results reveal that there is a significant positive relationship
between CG practices of UAE national banks and disclosure and transparency,
shareholders' interests, stakeholders' interests, and the role of the board of
directors. Furthermore, the results indicate that there is an insignificant
positive relationship between CG practices of UAE national banks and performance
level, and that there is a significant positive relationship between financial
distress and CG practices of UAE national banks. Finally, the study found that
there is no significant difference in the level of CG practices between the UAE's
national conventional banks and its Islamic banks.
Originality/value - The current study is considered the first of its kind
conducted on the UAE. To the best of the author's knowledge, no such studies have
been conducted regarding the effect of CG on performance and financial distress of
UAE national conventional and Islamic banks.
C1 [Al-Tamimi, Hussein A. Hassan] Univ Sharjah, Dept Accouting Finance & Econ,
Sharjah, U Arab Emirates.
RP Al-Tamimi, HAH (corresponding author), Univ Sharjah, Dept Accouting Finance &
Econ, Sharjah, U Arab Emirates.
EM hussein@sharjah.ac.ae
FU University of Sharjah
FX The author would like to thank the University of Sharjah for the
research grant.
NR 28
TC 14
Z9 15
U1 0
U2 0
PI BINGLEY
SN 1358-1988
EI 1740-0279
PY 2012
VL 20
IS 2
BP 169
EP +
DI 10.1108/13581981211218315
PG 14
GA V74WN
UT WOS:000211807200003
DA 2020-08-12
ER
PT J
AU Khan, MB
Sheikh, NN
AF Khan, Muhammad Burdbar
Sheikh, Naeem Nisar
TI Human resource development, motivation and Islam
SO JOURNAL OF MANAGEMENT DEVELOPMENT
LA English
DT Article
DE Religion; Islam; Human resource management; Corporate governance; Human
resource development; Philosophy; Spirituality; Instrumentality;
Motivation
ID WORKPLACE SPIRITUALITY; PHILOSOPHY; EDUCATION; WORK
AB Purpose - An increasing number of human resource development (HRD) theorists and
researchers are calling for a broader philosophical framework for HRD within
management practice. The concept of workplace spirituality has received significant
attention in this context. The purpose of this paper is to discuss the role of
religion of Islam in filling this need for a spiritual philosophical framework and
to highlight the lessons that can be learned from Islamic traditions. Finally, the
authors call for revisiting some of the major motivation theories of HRD.
Design/methodology/approach - After discussing relevant philosophical, spiritual
and HRD literature, this paper proposes modification in expectancy theory of
motivation.
Findings - This paper emphasizes holistic education and human development in
HRD. It proposes an enhanced role for objectives' valence and value in
organizational motivation. It also shows how earlier Islamic traditions had already
practised the modern HRD principles.
Research limitations/implications - Being conceptual and theoretical in nature,
the suggested motivation model needs rigor, further testing and empirical analysis.
Practical implications - The paper suggests that HRD ought to incorporate holistic
education and human development as its main drivers. Furthermore, organizations
need to put more emphasis on the value of ethical and normative objectives that may
involve delayed or reduced gratification.
Social implications - The paper implies that by giving more emphasis to the
value of ethical and moral goals, organizations and human resources would be more
responsible to social responsibilities.
Originality/value - The paper proposes a new dimension in the expectancy theory
of motivation and also provides justification for the role of spirituality as a
philosophical framework in HRD.
C1 [Khan, Muhammad Burdbar] Al Akhawayn Univ, Sch Humanities & Social Sci, Ifrane,
Morocco.
[Sheikh, Naeem Nisar] Al Akhawayn Univ, Sch Sci & Engn, Ifrane, Morocco.
RP Sheikh, NN (corresponding author), Al Akhawayn Univ, Sch Sci & Engn, Ifrane,
Morocco.
EM nsheikh@illinoisalumni.org
NR 49
TC 10
Z9 10
U1 0
U2 3
PI BINGLEY
SN 0262-1711
EI 1758-7492
J9 J MANAG DEV
JI J. Manag. Dev.
PY 2012
VL 31
IS 10
SI SI
BP 1021
EP 1034
DI 10.1108/02621711211281807
PG 14
WC Management
GA V97XJ
UT WOS:000213364200004
DA 2020-08-12
ER
PT J
AU Dsouli, O
Khan, N
Kakabadse, NK
AF Dsouli, Ouarda
Khan, Nadeem
Kakabadse, Nada K.
TI Spiritual capital The co-evolution of an ethical framework based on
Abrahamic religious values in the Islamic tradition
LA English
DT Article
DE Islam; Religion; Values; Corporate governance; Market economy; Spiritual
capitalism; Stakeholders; Abrahamic values
ID OWNERSHIP; EAST; RESPONSIBILITY; MANAGEMENT; GOVERNANCE
AB Purpose - The aim of this paper is to investigate how values from within
Abrahamic religions could be adopted to improve liberal market economies' (LMEs')
corporate governance business practices.
Design/methodology/approach - The concept of spiritual capitalism is explained
from an Islamic perspective by adopting three universal Abrahamic values to
critically analyse LMEs and offer an ethical alternative to current capitalism
concerns.
Findings - It is found that LMEs can be improved by considering all
stakeholders, putting ethics before economics, and introducing shared risk/reward
plus lower debt.
Originality/value - The paper compares LMEs/Co-ordinated market economies
(CMEs)/Islamic countries economies (ICEs) within an ethical framework for LMEs.
C1 [Dsouli, Ouarda; Khan, Nadeem; Kakabadse, Nada K.] Univ Northampton, Northampton
Business Sch, Northampton, England.
RP Dsouli, O (corresponding author), Univ Northampton, Northampton Business Sch,
Northampton, England.
EM Ouarda.dsouli@northampton.ac.uk
RI Kakabadse, Nada/R-7481-2018
OI Kakabadse, Nada/0000-0002-9517-8279; Khan, Nadeem/0000-0001-6911-9737;
Dsouli, Ouarda/0000-0001-7299-1702
NR 117
TC 6
Z9 6
U1 0
U2 1
PI BINGLEY
SN 0262-1711
EI 1758-7492
J9 J MANAG DEV
JI J. Manag. Dev.
PY 2012
VL 31
IS 10
SI SI
BP 1058
EP 1076
DI 10.1108/02621711211281843
PG 19
WC Management
GA V97XJ
UT WOS:000213364200007
DA 2020-08-12
ER
PT J
AU Ismaeel, M
Blaim, K
AF Ismaeel, Muatasim
Blaim, Katharina
TI Toward applied Islamic business ethics: responsible halal business
LA English
DT Article
DE Islam; Business ethics; Social responsibility; Corporate governance;
Islamic ethics; Halal; Corporate responsibility
AB Purpose - The purpose of this paper is to explore the opportunities of using
halal regulation and certification as a mechanism for applying Islamic business
ethics in contemporary world.
Design/methodology/approach - The current practices of halal regulation and
certification and literature on Islamic ethics were reviewed, to identify a
practical approach for Islamic business ethics.
Findings - Islam allows and accepts different levels of ethical commitment. A
multi-level Islamic ethics framework and a multi-level halal certification approach
are proposed to facilitate the implementation of Islamic business ethics in a
relative context. Two major developments can enrich halal business practices:
harmonization of global standards and governance structure, and integrating
responsibility and ethical issues in halal standards.
Practical implications - The proposed framework and developments can enrich
halal regulation and certification practice.
Originality/value - The paper emphasizes the importance of flexibility and
adaptability in Islamic business ethics implementation, and proposes a new
framework and approach to apply Islamic business ethics.
C1 [Ismaeel, Muatasim] Univ Kuala Lumpur UniKL, UniKL Business Sch, Kuala Lumpur,
Malaysia.
[Blaim, Katharina] Univ Eichstaett Ingolstadt, Fac Business & Econ, Ingolstadt,
Germany.
RP Ismaeel, M (corresponding author), Univ Kuala Lumpur UniKL, UniKL Business Sch,
EM muatasim.ismaeel@gmail.com
RI Ismaeel, Muatasim/S-3539-2018
OI Ismaeel, Muatasim/0000-0002-9387-975X
NR 21
TC 31
Z9 32
U1 0
U2 0
PI BINGLEY
SN 0262-1711
EI 1758-7492
J9 J MANAG DEV
JI J. Manag. Dev.
PY 2012
VL 31
IS 10
SI SI
BP 1090
EP 1100
DI 10.1108/02621711211281889
PG 11
WC Management
GA V97XJ
UT WOS:000213364200009
DA 2020-08-12
ER
PT B
AU Bhatti, I
Bhatti, M
AF Bhatti, Ishaq
Bhatti, Maria
BE Ariff, M
Iqbal, M
TI Development of legal issues of corporate governance for Islamic banking
SO FOUNDATIONS OF ISLAMIC BANKING: THEORY, PRACTICE AND EDUCATION
LA English
C1 [Bhatti, Ishaq] La Trobe Univ, Bundoora, Vic, Australia.
[Bhatti, Ishaq] UAE Univ, Al Ain, U Arab Emirates.
[Bhatti, Maria] Univ Melbourne, Sch Law, Melbourne, Vic 3010, Australia.
RP Bhatti, I (corresponding author), La Trobe Univ, Bundoora, Vic, Australia.
RI Bhatti, M. Ishaq/B-5489-2015
OI Bhatti, M. Ishaq/0000-0002-5027-7871
NR 12
TC 1
Z9 1
U1 0
U2 3
PI CHELTENHAM
BN 978-1-84980-792-0
PY 2011
BP 87
EP 102
PG 16
WC Business, Finance; Religion
GA BVB74
UT WOS:000290989500007
DA 2020-08-12
ER
PT B
AU Skully, MT
AF Skully, Michael T.
BE Ariff, M
Iqbal, M
TI Corporate governance and Islamic banks
SO FOUNDATIONS OF ISLAMIC BANKING: THEORY, PRACTICE AND EDUCATION
LA English
C1 Monash Univ, Clayton, Vic 3800, Australia.
RP Skully, MT (corresponding author), Monash Univ, Clayton, Vic 3800, Australia.
OI Skully, Michael/0000-0002-4904-9003
NR 19
TC 2
Z9 2
U1 0
U2 1
PI CHELTENHAM
BN 978-1-84980-792-0
PY 2011
BP 103
EP 124
PG 22
WC Business, Finance; Religion
GA BVB74
UT WOS:000290989500008
DA 2020-08-12
ER
PT J
AU Ahmed, AS
AF Ahmed, Aysha Shafat
TI An Examination of the Principles of Corporate Governance from an Islamic
Perspective: Evidence from Pakistan
LA English
DT Article
DE principles; corporate governance; Islamic; perspective; Pakistan
AB This article attempts and establishes a positive and direct link between Islamic
law and the principles of corporate governance, using practical examples from the
banking and finance industry. Several theoretical approaches are implemented to
analyse the subject of corporate governance. Commentators have previously linked
theories to explain the elements of corporate governance and its essential
principles, ranging from board activities to internal control mechanisms such as
auditing. Once proven that there is a link, this research attempts to analyse how
well or how this Islamic approach to corporate governance is enriched within
organisations based in Pakistan. However, at the same time, despite the Islamic
element involving accountability to God and individual responsibilities under Islam
as a religion, one finds immense similarities to the types of internal and external
control mechanisms. There is a similarity in the way an Islamic organisation is
counselled by the Shari. ah Supervisory Board just as a conventional Board would
perform their actions. Similar problems are associated in organisations
implementing Islamic principles of corporate governance. The main difference
unearthed by this research is the element of religious beliefs. Pakistan as a
country exemplifies how the development of corporate governance code is more
inclined towards the Anglo-Saxon model than towards the Islamic perspective,
despite a strong Islamic law background. However, this does not mean that one
perspective is better than the other. It just illustrates the flexibility of the
subject of corporate governance and its principles. The task to choose the type of
principles to adhere to is entirely up to the region, culture, and the corporate
structure.
C1 [Ahmed, Aysha Shafat] 56 Northliegh Rd, Manchester M16 0EQ, Lancs, England.
RP Ahmed, AS (corresponding author), 56 Northliegh Rd, Manchester M16 0EQ, Lancs,
England.
EM ay_ahmed@yahoo.com
NR 35
TC 1
Z9 1
U1 0
U2 1
PI LEIDEN
SN 0268-0556
EI 1573-0255
J9 ARAB LAW Q
JI Arab Law Q.
PY 2011
VL 25
IS 1
BP 27
EP 50
DI 10.1163/157302511X540826
PG 24
WC Law
SC Government & Law
GA V2C6U
UT WOS:000217459100002
DA 2020-08-12
ER
PT J
AU Hasan, Z
AF Hasan, Zulkifli
TI A survey on Shari'ah governance practices in Malaysia, GCC countries and
the UK Critical appraisal
MANAGEMENT
LA English
DT Article
DE Governance; Islam; Malaysia; Persian Gulf States; United Kingdom
AB Purpose - The purpose of this paper is to understand current Shari'ah governance
practices with the purpose of promoting greater understanding of some of the
crucial issues and to provide relevant information in guiding the future
development of Shari'ah governance system. The paper illustrates the state of
Shari'ah governance practices inMalaysia, GCC countries (Kuwait, Bahrain, United
ArabEmirates, Qatar and Saudi Arabia) and the UK by highlighting five main elements
of good corporate governance that consist of independence, competency,
transparency, disclosure and consistency.
Design/methodology/approach - Since the availability of secondary data on
Shari'ah governance practices is very limited, a detailed survey questionnaire is
generated for sourcing primary data from Islamic Financial Institutions (IFIs). The
study utilizes descriptive analysis approach in extracting and analyzing the data
and factual input derived from the questionnaire feedback.
Findings - The survey findings affirm that there are significant differences and
diverse Shari'ah governance practices in the case countries. This position
acknowledges that there are shortcomings and weaknesses to the existing governance
framework which needs further enhancement and improvement.
may provide relevant guidelines in guiding the future development of Shari'ah
governance practices in IFIs.
Originality/value - This paper provides fresh data and recent information on the
actual Shari'ah governance practices of IFIs in three jurisdictions.
C1 [Hasan, Zulkifli] Univ Durham, Sch Govt & Int Affairs, Durham, England.
RP Hasan, Z (corresponding author), Univ Durham, Sch Govt & Int Affairs, Durham,
England.
EM z.b.hasan@durham.ac.uk
NR 6
TC 22
Z9 22
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2011
VL 4
IS 1
BP 30
EP 51
DI 10.1108/17538391111122195
PG 22
GA V12YE
UT WOS:000214380300003
DA 2020-08-12
ER
PT B
AU Yousif, AA
AF Yousif, Adnan Ahmed
BA ElTiby, AM
BF ElTiby, AM
TI Corporate Governance in Islamic Banking
SO ISLAMIC BANKING: HOW TO MANAGE RISK AND IMPROVE PROFITABILITY
SE Wiley Finance Series
LA English
C1 Board Union Arab Banks, Beirut, Lebanon.
RP Yousif, AA (corresponding author), Board Union Arab Banks, Beirut, Lebanon.
NR 0
TC 0
Z9 0
U1 0
U2 0
PU JOHN WILEY & SONS LTD
PI CHICHESTER
PA THE ATRIUM, SOUTHERN GATE, CHICHESTER PO19 8SQ, WEST SUSSEX, ENGLAND
BN 978-0-470-93008-3; 978-0-470-88023-4
J9 WILEY FINANC SER
PY 2011
VL 640
BP 151
EP 170
PG 20
GA BB2LH
UT WOS:000341861500014
DA 2020-08-12
ER
PT J
AU Wahab, NA
Rahman, ARA
AF Wahab, Norazlina Abd.
Rahman, Abdul Rahim Abdul
TI A framework to analyse the efficiency and governance of zakat
institutions
LA English
DT Article
DE Process efficiency; Governance; Malaysia; Taxes; Religion; Islam
AB Purpose - This paper aims to present a conceptual model on the efficiency and
governance of zakat institutions that are responsible in collecting, managing and
distributing zakat in Malaysia. Zakat is an Islamic religious "tax" charged on the
rich and well-to-do members of the community for distribution to the poor and the
needy as well as other beneficiaries based on certain established criteria
according to the Qur'an. The main aim of zakat is to protect the socio-economic
welfare of the poor and the needy.
Design/methodology/approach - The paper reviews and synthesises the relevant
literature on efficiency, governance and zakat. The paper then developed and
proposed a conceptual model to study the efficiency and governance of zakat
institutions.
Findings - The paper identifies the appropriate methods to evaluate efficiency
and governance of zakat institutions. Such evaluations are crucial for the Islamic
financial system to function effectively in order to achieve the noble objectives
of socio-economic justice through proper distribution of wealth.
Originality/value - This paper presents a conceptual model of efficiency and
governance of zakat institutions which would be useful for further empirical
research in this area. The findings are not only relevant and applicable to
Malaysia but also to other Muslim countries.
C1 [Wahab, Norazlina Abd.] Univ Utara Malaysia, Sintok, Malaysia.
[Rahman, Abdul Rahim Abdul] Int Islamic Univ Malaysia, Kuala Lumpur, Malaysia.
RP Wahab, NA (corresponding author), Univ Utara Malaysia, Sintok, Malaysia.
EM norazlina.aw@uum.edu.my
NR 49
TC 19
Z9 19
U1 1
U2 3
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2011
VL 2
IS 1
BP 43
EP 62
DI 10.1108/17590811111129508
PG 20
GA V20JU
UT WOS:000214883700004
DA 2020-08-12
ER
PT J
AU Farook, S
Hassan, MK
Lanis, R
AF Farook, Sayd
Hassan, M. Kabir
Lanis, Roman
TI Determinants of corporate social responsibility disclosure: the case of
Islamic banks
LA English
DT Article
DE Islam; Banks; Corporate governance; Corporate social responsibility;
Disclosure; Political economy; Legitimacy theory
ID LEGITIMACY
AB Purpose - The purpose of this paper is to develop and test a theoretical model
of the determinants of Islamic banks' social disclosures. In testing the
hypotheses, the level of social disclosure in Islamic banks' annual reports is
gauged based on a benchmark derived from Islamic principles.
Design/methodology/approach - Applying the principles of systems-oriented
theories such as political economy, legitimacy and stakeholder theories, as well as
agency theory, hypotheses linking Islamic social disclosure and its determinants
are developed. The sample comprised 47 Islamic banks in 14 countries and the data
related to the dependent (Islamic banks social disclosures) variable are collected
mainly from the annual reports, while data for the independent variables
(determinants) are collected from various sources. Regression analysis was
conducted to test the hypotheses.
Findings - Corporate social responsibility (CSR) disclosure by Islamic banks
varies significantly across the sample. According to the regression results,
variation is best explained by the "influence of the relevant publics" and the
"Shari'ah (SSB supervisory boards) corporate governance mechanism" variables. Using
alternative variable measures, the regression results suggest that "level of social
and political freedom" and "the proportion of investment account deposits to total
assets" are also significant determinants of Islamic banks' CSR disclosure.
Research limitations/implications - The major limitation of this paper is the
small sample size of only 47 Islamic banking institutions. Future studies may
expand the sample size used here.
Practical implications - The results indicate the significance of the SSB as a
governance mechanism that may increase the CSR disclosure of Islamic banks. Thus,
from a policy perspective, bodies that regulate Islamic banking should consider
mandating the SSB for all "Islamic banks".
Originality/value - This research is the first to provide an a priori basis for
CSR disclosure of Islamic banks and to test using empirical data. The findings of
this research should be of significant value to regulators, shareholders and
deposit holders of Islamic banks. In a more general context, this paper is one of a
few that has operationalised Gray et al.' s conception of "levels of resolution of
perception" and empirically tested the concept using non-traditional organisations
(Islamic banks) in a non-Western context. This adds further credibility to systems-
oriented theories in explaining CSR disclosures of non-Western organisations
operating in non-Western cultures.
C1 [Farook, Sayd] Thomson Reuters Manama, Islamic Capital Markets, Manama, Bahrain.
USA.
[Lanis, Roman] Univ Technol Sydney, Sch Accounting, Sydney, NSW, Australia.
RP Hassan, MK (corresponding author), Univ New Orleans, Dept Econ & Finance, New
Orleans, LA 70148 USA.
EM KabirHassan63@gmail.com
RI Hassan, M. Kabir/D-5053-2012
OI Hassan, M. Kabir/0000-0001-6274-3545; lanis, roman/0000-0002-1821-8345
NR 80
TC 85
Z9 87
U1 1
U2 1
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2011
VL 2
IS 2
BP 114
EP +
DI 10.1108/17590811111170539
PG 30
GA V20KA
UT WOS:000214884300003
DA 2020-08-12
ER
PT J
AU Masood, O
Niazi, GSK
Ahmad, N
AF Masood, Omar
Niazi, Ghulam Shabbir Khan
Ahmad, Noryati
TI An analysis of the growth and rise of smaller Islamic banks in last
decade
LA English
DT Article
DE Islamic banking; Stability; Z-score; Regression analysis; Economic
growth
ID EFFICIENCY; SECTOR
AB Purpose - The purpose of this paper is to analyse the factors responsible for
the rise and growth of smaller Islamic banks in the last decade.
Design/methodology/approach - Z-score analysis is used to test the stability of
both smaller and larger Islamic banks. The pooled ordinary least square (OLS)
regression technique is also employed to examine the factors.
Findings - The results of this paper show higher z-scores for smaller Islamic
banks indicating that the latter have tended to be more stable than larger Islamic
banks over the last decade. Z-scores tend to increase with bank size for large
Islamic banks, but decrease with size for the small Islamic banks. The OLS
regression results confirm that larger banks have greater income diversity than do
the smaller banks.
Originality/value - Islamic banking represents a radical departure from
conventional banking, and from the viewpoint of corporate governance; it embodies a
number of interesting features since equity participation, risk and profit-and-loss
sharing arrangements form the basis of Islamic financing. Using econometric
techniques, this paper provides valuable insights as to the stability of Islamic
banks and the factors responsible for the growth of smaller such institutions that
has been witnessed in the last decade.
C1 [Masood, Omar] Univ East London, Sch Business, London, England.
[Niazi, Ghulam Shabbir Khan] Quaid I Azam Univ, Quaid I Azam Sch Management Sci,
Islamabad, Pakistan.
[Ahmad, Noryati] Univ Teknol MARA, Fac Business Management, Financial Dev Res
Ctr, Inst Business Excellence, Selangor, Malaysia.
RP Ahmad, N (corresponding author), Univ Teknol MARA, Fac Business Management,
Financial Dev Res Ctr, Inst Business Excellence, Selangor, Malaysia.
EM noryatia@salam.uitm.edu.my
RI Ahmad, Noryati/AAD-5487-2020
OI Ahmad, Noryati/0000-0002-6865-2756
NR 40
TC 4
Z9 5
U1 0
U2 0
PI BINGLEY
SN 1755-4179
PY 2011
VL 3
IS 2
SI SI
BP 105
EP +
DI 10.1108/17554171111155348
PG 13
GA V12FQ
UT WOS:000214332100003
DA 2020-08-12
ER
PT J
AU Bhatti, M
Bhatti, MI
AF Bhatti, Maria
Bhatti, M. Ishaq
TI Toward Understanding Islamic Corporate Governance Issues in Islamic
Finance
SO ASIAN POLITICS & POLICY
LA English
DT Article
DE corporate governance; Islamic finance; Hisba institution; Shariah
AB This article presents recent developments on legal issues associated with
corporate governance in the Islamic finance industry based on a contractual
pyramid. It presents the Islamic corporate governance (ICG) model and discusses its
viability in a 21st-century corporate structure. Themodel is based on the
institution of Hisba, which demands proper and honest bookkeeping, disclosure, and
transparency based on the Shariah principles of Islamic ethics. This article
proposes a model of ICG that reconciles the objectives of Shariah law with the
stakeholder model of corporate governance. It argues that this may be viable due to
the emphasis that Shariah laws place on property and Islamic financial contractual
rights. The article also discusses a model of ICG that is consistent with
principles outlined by the Organisation for Economic Co-operation and Development
as well as Shariah law. Such a model of corporate governance would encourage
capital formation, foster strong markets, and encourage judgment and transparency,
which are all principles central to Shariah laws.
C1 [Bhatti, Maria] Univ Melbourne, Melbourne, Vic, Australia.
[Bhatti, M. Ishaq] La Trobe Univ, Bundoora, Vic, Australia.
RP Bhatti, M (corresponding author), Univ Melbourne, Melbourne, Vic, Australia.
RI Bhatti, M.Ishaq/B-5489-2015
OI Bhatti, M.Ishaq/0000-0002-5027-7871
NR 22
TC 14
Z9 14
U1 0
U2 0
PU WILEY
PI HOBOKEN
SN 1943-0779
EI 1943-0787
J9 ASIAN POLIT POLICY
JI Asian Polit. Policy
PD JAN-MAR
PY 2010
VL 2
IS 1
BP 25
EP 38
DI 10.1111/j.1943-0787.2009.01165.x
PG 14
WC Political Science
SC Government & Law
GA V10HN
UT WOS:000214201800002
DA 2020-08-12
ER
PT J
AU Foster, NHD
AF Foster, Nicholas H. D.
TI Islamic Perspectives on the Law of Business Organisations II: The Sharia
and Western-style Business Organisations
SO EUROPEAN BUSINESS ORGANIZATION LAW REVIEW
LA English
DT Article
DE Islamic law; sharia; business associations; companies; Middle East law;
Islamic corporations; Islamic Finance; Islamic investment; Islamic
corporate governance; Islamic corporate social responsibility;
comparative law; legal history
AB Recent events and trends have led to an increased awareness of the importance of
Islamic law and a more widespread interest in the subject However, many areas
remain inaccessible and have received relatively little scholarly attention One
such s the law of business associations The aim of this and a previous article(1)
('the first article') is to alleviate this situation somewhat, providing a critical
overview and facilitating further research.
The first article contained an overview of the classical sharia. looking at
three Sunni schools by way of example. plus a comparison with Western concepts This
article considers the replacement of the sharia regimes by Western-style law and
the interaction of the sharia with Western-style law
C1 Univ London, Sch Law, Sch Oriental & African Studies, London WC1E 7HU, England.
RP Foster, NHD (corresponding author), Univ London, Sch Law, Sch Oriental & African
Studies, London WC1E 7HU, England.
NR 39
TC 3
Z9 3
U1 0
U2 14
PU SPRINGER HEIDELBERG
PI HEIDELBERG
PA TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY
SN 1566-7529
EI 1741-6205
J9 EUR BUS ORGAN LAW RE
JI Eur. Bus. Organ. Law Rev.
PY 2010
VL 11
IS 2
BP 273
EP 307
DI 10.1017/S1566752910200058
PG 35
WC Business; Law
SC Business & Economics; Government & Law
GA 636AG
UT WOS:000280699200005
DA 2020-08-12
ER
PT J
AU Chazi, A
Terra, PRS
Zanella, CF
AF Chazi, Abdelaziz
Renato Soares Terra, Paulo
Caputo Zanella, Fernando
TI Theory versus practice: perspectives of Middle Eastern financial
managers
SO EUROPEAN BUSINESS REVIEW
LA English
DT Article
DE Corporate finances; Middle East; Financial management
ID CORPORATE-FINANCE; DETERMINANTS; DECISIONS; DIVIDENDS; POLICY; VIEWS;
FIRMS
AB Purpose - The purpose of this paper is to survey financial managers in the Arab
Gulf region about a broad set of financial decisions and contrast their answers
with both prescriptions of financial theory and practices of their North American
and European peers.
Design/methodology/approach - The paper uses Graham and Harvey's questionnaire
on the cost of capital, capital budgeting and capital structure that is also
employed by Brounen et al. in Europe, containing two additional questions on
corporate governance. Moreover, the survey included an additional question about
Islamic financial instruments.
Findings - Despite each firm's unique characteristics and institutions, chief
financial officers (CFOs) in the Middle East are acting in a manner similar to
their North American and European counterparts.
Originality/value - All CFOs surveyed are located in countries that abide by a
combination of Islamic, civil (French, Romano-Germanic), and common (Anglo-Saxon)
laws. To the best of the authors' knowledge, this is the first time that a nearly
identical corporate finance survey has been simultaneously administered in North
America, Europe and the Arab Gulf region.
C1 [Chazi, Abdelaziz] Amer Univ Sharjah, Sch Business & Management, Finance,
Sharjah, U Arab Emirates.
[Renato Soares Terra, Paulo] Univ Fed Rio Grande do Sul, Sch Management, Porto
Alegre, RS, Brazil.
[Caputo Zanella, Fernando] United Arab Emirates Univ, Dept Econ & Finance CBE,
Al Ain, U Arab Emirates.
RP Terra, PRS (corresponding author), Univ Fed Rio Grande do Sul, Sch Management,
Porto Alegre, RS, Brazil.
EM prsterra@ea.ufrgs.br
RI ; Terra, Paulo/C-2632-2018
OI Chazi, Abdelaziz/0000-0002-8865-269X; Terra, Paulo/0000-0003-1486-120X
FU Brazilian Research Council (CNPQ)National Council for Scientific and
Technological Development (CNPq); Brazilian Research Agency
(CAPES)CAPES; United Arab Emirates University [04-02-4-11/06]
FX The authors are grateful to John R. Graham and Campbell R. Harvey for
the permission to reproduce their survey, as well as to Abe de Jong for
the permission to replicate his questions on corporate governance. The
authors also thank Dr Hicham Benjelloun, Ahmed Mohamed, Suleyman Chamand
Rajai Al Shawahin for their help with data collection, Dr Ahmed
El-Shaarawi and Dr Hassan Selim for the project support, Magda Donia for
comments, and Roberto F. Decourt, Guilherme C.B. Zanella and Noushin
Abbasi for helpful research assistance. Paulo R.S. Terra thanks the
Brazilian Research Council (CNPQ) and the Brazilian Research Agency
(CAPES) for financial support. Moreover, the authors are thankful to the
executives that took part in the survey. This research was partially
funded by the United Arab Emirates University (Grant No. 04-02-4-11/06).
The authors are indebted to the editor and two anonymous referees for
their valuable comments that have improved the paper. All remaining
errors are the authors' responsibility.
NR 52
TC 12
Z9 13
U1 0
U2 0
PI BINGLEY
SN 0955-534X
EI 1758-7107
J9 EUR BUS REV
JI Eur. Bus. Rev.
PY 2010
VL 22
IS 2
SI SI
BP 195
EP 221
DI 10.1108/09555341011023524
PG 27
WC Business
GA V95DP
UT WOS:000213177600005
DA 2020-08-12
ER
PT J
AU Kader, HA
Adams, M
Hardwick, P
AF Kader, Hale Abdul
Adams, Mike
Hardwick, Philip
TI The Cost Efficiency of Takaful Insurance Companies
SO GENEVA PAPERS ON RISK AND INSURANCE-ISSUES AND PRACTICE
LA English
DT Article
DE takaful insurance; cost efficiency; corporate governance
ID CORPORATE GOVERNANCE; BOARD COMPOSITION; PERFORMANCE; OWNERSHIP; FIRM;
DETERMINANTS; INCENTIVES; SCALE; BANK; SIZE
AB This study examines the cost efficiency of non-life Takaful insurance firms
operating in 10 Islamic countries. Non-parametric data envelopment analysis is used
to compute cost efficiency scores and a second-stage logit transformation
regression model is then estimated to test the influence of corporate
characteristics on these efficiencies. We find that nonexecutive directors and
separating the Chief Executive Officer and Chairman functions do not improve cost
efficiency. However, board size, firm size and product specialisation have positive
effects on the cost efficiency of Takaful insurers. In contrast, the regulatory
environment is found not to be statistically significant in terms of improving cost
efficiency. We conclude that our results could have important commercial and policy
implications. The Geneva Papers (2010) 35, 161-181. doi:10.1057/gpp.2009.33
C1 [Kader, Hale Abdul] Univ Nottingham, Sch Business, CRIS, Nottingham NG8 1BB,
England.
[Adams, Mike] Swansea Univ, Sch Business & Econ, Swansea SA2 8PP, W Glam, Wales.
[Hardwick, Philip] Bournemouth Univ, Sch Business, Poole BH12 5BB, Dorset,
England.
RP Kader, HA (corresponding author), Univ Nottingham, Sch Business, CRIS, Jubilee
Campus, Nottingham NG8 1BB, England.
EM lixha8@nottingham.ac.uk; m.b.adams@swansea.ac.uk;
phardwic@bournemouth.ac.uk
NR 46
TC 32
Z9 32
U1 1
U2 35
PI BASINGSTOKE
SN 1018-5895
EI 1468-0440
J9 GENEVA PAP R I-ISS P
JI Geneva Pap. Risk Insur.-Issues Pract.
PD JAN
PY 2010
VL 35
IS 1
BP 161
EP 181
DI 10.1057/gpp.2009.33
PG 21
GA 551FU
UT WOS:000274193100010
OA Bronze
DA 2020-08-12
ER
PT J
AU Karim, WJ
AF Karim, Wazir Jahan
TI The Economic Crisis, Capitalism and Islam: The Making of a New Economic
Order?
SO GLOBALIZATIONS
LA English
DT Article
DE alternative economics; welfare; trust
AB Although Islamic economics is compatible with modern capitalism, in its support
of free markets, economic globalisation and profit, it has clear fundamental rules
on the ethics and morality of economic transactions-it denies interest or riba, the
principle of 'making money from money' and forbids the transference of risk from
the financier to entrepreneur. There must be shared appreciation over real assets
by means of its sales or lease (murabaha, ijara, salam, istisna and sukuk) while
credit default swaps are disallowed. There are also other systems of checks and
balances which prevent an economic crisis of pandemic proportions to arise;
contractual relationships in business, finance or trade must be based on trust and
familiarity of networks of common experiences (takaful) which implies that debts
cannot be repackaged and resold as assets globally to faceless investors while
profit must be redistributed directly to the poor (zakat) in the Holy month of
Ramadhan to build and strengthen social safety nets through institutions of charity
welfare and education. Western economists generally argue that state directed
financial regulation of banking and insurance backed by good corporate governance
and responsibility with a progressive taxation system can prevent future economic
catastrophes without looking at alternative systems of capitalism. However,
systemic in the rules of libertarian economics is freedom from rules-that rules of
ethics or morality are an unnecessary thing. In contrast, Islamic economics builds
in moral regulation, state and person-directed as a condition of the capitalist
enterprise. This paper focuses on the significant growth of Syariah-compliant
finance in Malaysia, Brunei and the MENA region and suggests that moral regulation
in Islamic finance lacks the connectivity with earlier systems of welfare
capitalism already in place in these regions at the end of colonial rule. Syariah
compliant finance could complement post-colonial forms of welfare capitalism if
state regulation of assets, national, corporate, and personal in the Islamic world
is instituted more widely and with greater transparency. However, oil rich Muslim
nations have a growing economic divide and with an increasing population of
educated and unemployed youth, the mechanisms of redistribution by Islamic
principles must transcend political tribalism, elitism, and libertarian economics.
Hence the transformative process to a new economic order remains a challenge to
those who believe in the moral rebirth of capitalism through any means.
RP Karim, WJ (corresponding author), 26 Jl Marie Pitchay, Hillside 11200, Tanjung
Bungah, Malaysia.
EM wazir@wazirjahan.net
RI liang, lemmy/G-5232-2017
NR 37
TC 9
Z9 9
U1 7
U2 79
PU ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
PI ABINGDON
PA 4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXFORDSHIRE, ENGLAND
SN 1474-7731
J9 GLOBALIZATIONS
JI Globalizations
PY 2010
VL 7
IS 1-2
BP 105
EP 125
DI 10.1080/14747731003593315
PG 21
WC International Relations; Social Sciences, Interdisciplinary
SC International Relations; Social Sciences - Other Topics
GA 630VV
UT WOS:000280303900009
DA 2020-08-12
ER
PT J
AU Haniffa, R
Hudaib, M
AF Haniffa, Roszaini
Hudaib, Mohammad
TI The two Ws of Islamic accounting research
LA English
DT Article
DE Islam; Accounting; Accounting research; Auditing; Corporate governance
AB Purpose - The purpose of this paper is to introduce the new journal and articles
in the first issue.
Design/methodology/approach - The paper attempts to introduce the journal by
answering the two "W" questions - what is Islamic accounting and why Islamic
accounting research is important. In doing so, it indirectly highlights the need
for a specialist journal like Journal of Islamic Accounting and Business Research
(JIABR) and the potential research areas.
Findings - Islamic accounting research is still at the infancy stage compared to
Islamic banking and finance. One of the reasons is due to lack of exposure of
research conducted in the area at international level, ending up with only a few
issues getting attention. Similarly, the lack of a platform where researchers
interested in the area could showcase the diverse range of research as well as
network and get support on their research hindered the progress of research in this
area. Hence, JIABR could be the leading journal in the area of Islamic accounting
and business research if all papers related to it are channeled in this specialist
journal. In this way, researchers in the areas of accounting and business would be
more aware of the development and contemporary issues to take the research forward.
Originality/value - This paper is useful to new readers of the journal around
the world who are interested but have limited knowledge in the area, and also those
who wish to submit to the journal, in that it highlights some potential areas for
research.
C1 [Haniffa, Roszaini] Univ Bradford, Sch Management, Bradford, W Yorkshire,
England.
[Hudaib, Mohammad] Univ Nottingham, Sch Business, Nottingham, England.
RP Haniffa, R (corresponding author), Univ Bradford, Sch Management, Bradford, W
Yorkshire, England.
EM r.haniffa@bradford.ac.uk
NR 8
TC 9
Z9 9
U1 0
U2 0
PI BINGLEY
SN 1759-0817
EI 1759-0825
PY 2010
VL 1
IS 1
BP 5
EP +
DI 10.1108/17590811011033370
PG 6
GA V20HX
UT WOS:000214878800001
DA 2020-08-12
ER
PT J
AU Archer, S
Karim, RAA
AF Archer, Simon
TI Profit-sharing investment accounts in Islamic banks: Regulatory problems
and possible solutions
LA English
DT Article
DE Islamic finance; profit-sharing investment accounts; regulation;
supervision; capital adequacy; corporate governance
AB As interest-bearing deposits are not permitted by the rules and principles of
the Islamic Shari'ah, Islamic banks typically raise deposits in the form of profit-
sharing investment accounts. These accounts differ from conventional deposits not
merely by virtue of the profit-sharing nature of the returns they offer, but also
because the contact between the depositors and the bank is not a debt contract, and
the deposits are in consequence not 'capital certain' (that is, the depositors are
required to accept negative returns or losses). This latter characteristic leads to
serious regulatory problems in jurisdictions where bank deposits are required by
legal definition to be 'capital certain'. More generally, the presence of such
'puttable instruments' in the capital structure of Islamic banks leads to
complications in assessing their capital adequacy. In addition, the fact that the
profit-sharing investment account holders are a type of equity investor without the
governance rights of either creditors or shareholders raises a major problem of
supervision. This article explains these problems in further detail, and proposes a
solution in the form of a structural distinction between the Islamic bank in the
narrow sense on the one hand, and the entity that manages the profit-sharing
investment accounts on the other hand.
C1 [Archer, Simon; Karim, Rifaat Ahmed Abdel] Univ Reading, ICMA Ctr, Henley
Business Sch, Reading RG6 6BA, Berks, England.
[Karim, Rifaat Ahmed Abdel] Islamic Financial Serv Board, Kuala Lumpur,
Malaysia.
[Karim, Rifaat Ahmed Abdel] Int Accounting Stand Board, Stand Advisory Council,
London, England.
[Karim, Rifaat Ahmed Abdel] Int Auditing & Assurance Stand Board, Consultat
Advisory Grp, London, England.
[Karim, Rifaat Ahmed Abdel] Univ Surrey, Guildford, Surrey, England.
[Karim, Rifaat Ahmed Abdel] Monash Univ, Clayton, Vic, Australia.
RP Archer, S (corresponding author), Univ Reading, ICMA Ctr, Henley Business Sch,
Reading RG6 6BA, Berks, England.
NR 10
TC 31
Z9 31
U1 0
U2 0
PI BASINGSTOKE
SN 1745-6452
EI 1750-2071
J9 J BANK REGUL
JI J. Bank Regul.
PD SEP
PY 2009
VL 10
IS 4
BP 300
EP 306
DI 10.1057/jbr.2009.9
PG 7
GA V93CZ
UT WOS:000213040800003
OA Bronze
DA 2020-08-12
ER
PT J
AU Bhatti, M
Bhatti, I
AF Bhatti, Maria
Bhatti, Ishaq
TI Development in legal Issues of Corporate Governance in Islamic Finance
SO JOURNAL OF ECONOMIC AND ADMINISTRATIVE SCIENCES
LA English
DT Article
DE Development; Legal issues; Corporate governance; Islamic finance
AB This paper is an attempt to present legal issues of Islamic corporate governance
(ICG) in the presence of global financial crises. It presents ICG model and
discusses its viability in today's corporate structure. The model is based on
institution of Hisbah which demands book keeping, disclosure, transparency based on
Shariah principles of Islamic Finance Ethics.
C1 [Bhatti, Maria] Univ Melbourne, Law Inst Victoria, Melbourne, Vic, Australia.
[Bhatti, Ishaq] Univ Melbourne, Fac Law, Melbourne, Vic, Australia.
La Trobe Univ, Fac Law & Management, Sch Econ & Finance, Melbourne, Vic,
Australia.
RP Bhatti, M (corresponding author), Univ Melbourne, Law Inst Victoria, Melbourne,
Vic, Australia.
NR 13
TC 17
Z9 17
U1 0
U2 0
PI BINGLEY
SN 1026-4116
EI 2054-6246
J9 J ECONOM ADM SCI
JI J. Econom. Adm. Sci.
PD JUN
PY 2009
VL 25
IS 1
BP 67
EP 91
DI 10.1108/10264116200900004
PG 25
WC Economics
GA V2M6P
UT WOS:000217718600004
DA 2020-08-12
ER
PT J
AU Safieddine, A
AF Safieddine, Assem
TI Islamic Financial Institutions and Corporate Governance: New Insights
for Agency Theory
SO CORPORATE GOVERNANCE-AN INTERNATIONAL REVIEW
LA English
DT Article
DE Corporate Governance; Board Evaluation; Board of Director Issues; Gulf
States; Agency Theory
ID OWNERSHIP; PERFORMANCE; BOARD
AB Empirical
This paper takes a theory building approach to highlighting variations of agency
theory in the unique and complex context of Islamic banks, mainly stemming from the
need to comply with Sharia and the separation of cash flow and control rights for a
category of investors.
The paper provides insights that agency structures in the context of Islamic
banking might give rise to trade-offs between Sharia compliance and mechanisms
protecting investors' rights. Alternative models of idiosyncratic governance might
be effective in balancing the two cornerstones of the agency dynamic. In practice,
the paper finds that most of the surveyed Islamic banks appear to recognize the
value of governance and institute some basic mechanisms. Nonetheless, some
governance flaws relating to audit, control, and transparency are observed, a
situation further exacerbated by the fact that investment account holders are not
represented on the board, and are not granted control or monitoring rights. This
leads to a discussion on the tradeoff between the costs and benefits of such a
practice.
This study contributes to the agency theory literature by providing theoretical
propositions highlighting challenges to this theory whereby mechanisms with the
purpose of mitigating agency problems might lead to a divergence from Islamic
principles of Sharia.
The paper motivates Islamic banks to improve governance practices currently in
place. It alerts policy makers to the need to tailor the regulations to safeguard
the interests of all investors without violating the principles of Sharia.
C1 [Safieddine, Assem] Amer Univ Beirut, Sch Business, Corp Governance Program,
Beirut, Lebanon.
RP Safieddine, A (corresponding author), Amer Univ Beirut, Sch Business, Corp
Governance Program, Bliss St,POB 11-0236, Beirut, Lebanon.
EM as57@aub.edu.lb
NR 53
TC 76
Z9 77
U1 0
U2 40
PU WILEY
PI HOBOKEN
SN 0964-8410
EI 1467-8683
J9 CORP GOV-OXFORD
JI Corp. Gov.
PD MAR
PY 2009
VL 17
IS 2
BP 142
EP 158
DI 10.1111/j.1467-8683.2009.00729.x
PG 17
WC Business; Business, Finance; Management
GA 415VY
UT WOS:000263965700003
DA 2020-08-12
ER
PT J
AU Nadar, A
AF Nadar, Aisha
TI Islamic Finance and Dispute Resolution: Part 1
LA English
DT Article
DE Contract law; conventional finance; dispute resolution; financial
intermediation; international commercial arbitration; Islamic finance;
party autonomy
AB The Islamic Financial Industry is an industry that organises financial services
in accordance with Islamic Law, in the same way as the traditional financial
industry is organised in accordance with secular law. Th e unique challenges facing
the industry in terms of compliance with Islamic law have been internationally
recognised in relation to capital adequacy, risk management, corporate governance,
transparency and disclosure. Th e same, however, has not been true in the area of
dispute resolution. Th e purpose of this paper is to identify the unique challenges
facing Islamic finance in compliance with Islamic law in the ambit of English
courts, evaluate the features of international commercial arbitration as they
relate to overcoming these challenges, and provide some suggestions for going
forward. Th e paper is structured as follows: Section 1 will be used to introduce
Islamic finance and frame the issues facing the industry in relation to dispute
resolution. Section 2 will focus on providing the background required, while
Section 3 frames Islamic finance in relation to conventional finance. Section 4
will provide an insight into Islamic law.
C1 [Nadar, Aisha] Queen Mary Univ London, Sch Law, London, England.
RP Nadar, A (corresponding author), Queen Mary Univ London, Sch Law, London,
England.
NR 43
TC 1
Z9 1
U1 0
U2 0
PI LEIDEN
SN 0268-0556
EI 1573-0255
J9 ARAB LAW Q
JI Arab Law Q.
PY 2009
VL 23
IS 1
BP 1
EP 29
DI 10.1163/157302509X395623
PG 29
WC Law
SC Government & Law
GA V2C4L
UT WOS:000217453000001
DA 2020-08-12
ER
PT J
AU Nadar, A
AF Nadar, Aisha
TI Islamic Finance and Dispute Resolution: Part 2
LA English
DT Article
DE contract law; conventional finance; dispute resolution; financial
intermediation; international commercial arbitration; Islamic finance;
party autonomy
AB The Islamic Financial Industry is an industry that organises financial services
in accordance with Islamic Law, in the same way as the traditional financial
industry is organised in accordance with secular law. The unique challenges facing
the industry in terms of compliance with Islamic law have been internationally
recognised in relation to capital adequacy, risk management, corporate governance,
transparency and disclosure. The same, however, has not been true in the area of
dispute resolution. The purpose of this paper is to identify the unique challenges
facing Islamic finance in compliance with Islamic law in the ambit of English
courts, evaluate the features of international commercial arbitration as they
relate to overcoming these challenges, and provide some suggestions for going
forward. The paper is structured as follows. Section 1 will provide a discussion on
governing law of contract and the limitations imposed by English courts on party
autonomy. Section 2 discusses International commercial arbitration as an
alternative dispute resolution forum. Section 3 presents some ideas for going
forward, within the context of historical lessons. Finally the paper presents some
conclusions in Section 4.
C1 [Nadar, Aisha] Univ London, Sch Law, Queen Mary, London, England.
RP Nadar, A (corresponding author), Univ London, Sch Law, Queen Mary, London,
England.
NR 15
TC 4
Z9 4
U1 0
U2 0
PI LEIDEN
SN 0268-0556
EI 1573-0255
J9 ARAB LAW Q
JI Arab Law Q.
PY 2009
VL 23
IS 2
BP 181
EP 193
DI 10.1163/157302509X415701
PG 13
WC Law
SC Government & Law
GA V2C4R
UT WOS:000217453600004
DA 2020-08-12
ER
PT J
AU Alexakis, C
Tsikouras, A
AF Alexakis, Christos
Tsikouras, Alexandros
TI Islamic finance: regulatory framework - challenges lying ahead
MANAGEMENT
LA English
DT Review
DE Islam; Finance; Accounting; Auditing; Regulation; Corporate governance
AB Purpose - The purpose of this paper is to provide an overview of the regulatory
framework and key regulatory institutions and industry associations in Islamic
finance today and highlight areas that merit increased attention.
Design/methodology/approach - A wide range of bibliography was reviewed, with
particular focus on the standards published by the Islamic Financial Services Board
and the Accounting and Auditing Organization for Islamic Financial Institutions.
Regulatory topics of particular interest in the Islamic financial world are
reviewed. An overview of the main Islamic regulatory institutions is provided. The
paper ends with a set of hypotheses requiring further research.
Findings - The paper finds that the growth of the Islamic finance sector may be
impacted by the: increased involvement in Islamic finance by Western regulators,
aswell as credit rating agencies; existence of sound accounting procedures;
increased protection of stakeholders of Islamic Financial Institutions.
Originality/value - This paper provides useful information on the current status
of the regulatory framework in Islamic finance and highlights areas for further
research for academics and professionals alike.
C1 [Alexakis, Christos; Tsikouras, Alexandros] Univ Piraeus, Dept Econ, Piraeus,
Greece.
[Tsikouras, Alexandros] Deutsch Bank, Middle East & Africa Team, Geneva,
Switzerland.
RP Alexakis, C (corresponding author), Univ Piraeus, Dept Econ, Piraeus, Greece.
EM calexakis@tutors.eap.gr
OI Tsikouras, Alex/0000-0001-9874-5235
NR 65
TC 16
Z9 16
U1 0
U2 0
PI BINGLEY
SN 1753-8394
EI 1753-8408
PY 2009
VL 2
IS 2
BP 90
EP 104
DI 10.1108/17538390910965121
PG 15
GA V12VJ
UT WOS:000214373000002
DA 2020-08-12
ER
PT J
AU Mashayekhi, B
Mashayekh, S
AF Mashayekhi, Bita
Mashayekh, Shahnaz
TI Development of accounting in Iran
SO INTERNATIONAL JOURNAL OF ACCOUNTING
LA English
DT Article
DE Iran; Corporate Governance; Accounting history; Iranian National
Accounting Standards (NASs); Accounting practice
AB The main purpose of this paper is to show the origin, growth and practice of
accounting in Iran plus analysis of influential factors such as financial markets,
tax policies, privatization, membership in the World Trade Organization, foreign
investment, and legal systems. Documents of ancient Iran show that in 550 B.C.
(Achaemenid era), all records of public revenues and costs were kept soundly and
with remarkable accuracy. These documents display the relentless progress and
development of accounting in Iran up until now (pre-Islamic era, post-Islamic era,
and contemporary era). During the past two decades, various measures have been
adopted to promote and advance accounting in Iran via harmonizing the domestic
accounting practices with International norms and standards. Although Iran has
employed International Accounting Standards as the basis for developing its
National Accounting Standards, there are still some differences between Iranian and
international standards, and there are some certain International Accounting
Standards that are not applicable in Iran. A host of endemic factors, such as
existing laws and rules, religious beliefs, culture, economic and political
conditions, have influenced the National Accounting Standards setting processes.
(C) 2008 University of Illinois. All rights reserved.
C1 [Mashayekhi, Bita] Univ Tehran, Fac Management, Accounting Dept, Tehran
141556311, Iran.
[Mashayekh, Shahnaz] Alzahra Univ, Accounting Dept, Tehran, Iran.
RP Mashayekhi, B (corresponding author), Univ Tehran, Fac Management, Accounting
Dept, Tehran 141556311, Iran.
EM mashaykhi@ut.ac.ir
RI mashayekh, shahnaz/AAV-5485-2020; Mashayekhi, Bita/T-9813-2018
OI Mashayekhi, Bita/0000-0003-4413-9939
NR 31
TC 49
Z9 49
U1 0
U2 0
PI NEW YORK
PA 360 PARK AVE SOUTH, NEW YORK, NY 10010-1710 USA
SN 0020-7063
EI 1879-2251
J9 INT J ACCOUNT
JI Int. J. Account.
PD MAR
PY 2008
VL 43
IS 1
BP 66
EP 86
DI 10.1016/j.intacc.2008.01.004
PG 21
GA V2F8Z
UT WOS:000217542800004
DA 2020-08-12
ER
PT J
AU Ghayad, R
AF Ghayad, Racha
TI Corporate governance and the global performance of Islamic banks
SO HUMANOMICS
LA English
DT Article
DE Islam; Banks; Organizational performance; Corporate governance; Ethics;
Bahrain
AB Purpose - The purpose of this paper is to study the operation of Islamic banks
and the elements which determine their performance.
Design/methodology/approach - In order to ensure the respect of Shari'a,
religious committee of monitoring exists within the Islamic bank to take care of
the conformity of the activities and banking products with the Shari'a. This paper
supposes that corporate governance of Islamic banks imposes an important constraint
on Islamic banks operations. Furthermore, the directors of the Islamic banks are
subjected to the governorship exerted by the board of directors and the Shari'a
board.
Findings - The findings of this paper are that the performance of an Islamic
bank - as a company based on principles of Islam - is affected not only by the
internal variables of quantitative nature (for example financial ratios) but also
by the internal qualitative variables like the managerial variables. Moreover, the
performance of an Islamic bank and a conventional bank should not be measured in
the same way because of their divergence on the level of the objectives. The
Shari'a member must have a qualification in finance and commerce to ensure better
quality of supervision and consultation.
Research limitations/implications - The findings of this paper are based on case
studies from one country only (Bahrain).
Practical implications - This paper implies that in practice, members of Shari'a
Board must have stature to give the bank credibility vis-a`-vis the stakeholders
and the depositors.
Originality/value - The original contribution of this paper is that it shows
that the members of Shari'a board were a serious handicap for the directors of the
Islamic banks. Directors and members of Shari'a board did not speak the same
language. The members of the Shari'a board were not very specialized in the fields
other than Shari'a and contrary the directors in Shari'a.
C1 [Ghayad, Racha] Lebanese Univ CNAM, Dept Econ & Business, Beirut, Lebanon.
RP Ghayad, R (corresponding author), Lebanese Univ CNAM, Dept Econ & Business,
Beirut, Lebanon.
EM ghayad_racha@yahoo.fr
NR 12
TC 35
Z9 36
U1 0
U2 1
PI BINGLEY
SN 0828-8666
EI 1758-7174
J9 HUMANOMICS
JI Humanomics
PY 2008
VL 24
IS 3
BP 207
EP +
DI 10.1108/08288660810899368
PG 12
WC Economics
GA V61BH
UT WOS:000210873200004
DA 2020-08-12
ER
PT J
AU Choudhury, MA
Harahap, SS
Harahap, Sofyan S.
TI Decreasing corporate governance in an ethico-economic general
equilibrium model of unity of knowledge
LA English
DT Article
DE Corporate governance; Islam; Epistemology; Decision making;
Organizations; Ethics
AB Purpose - The purpose of this paper is to explain how to reduce transaction cost
in corporate governance by subjecting it institutionally to ethics and values of
interactive and consensual decision making with transparency gained from
participation between managers and shareholders/stakeholders and the community at
large. This is an epistemological problem in the Islamic approach to corporate
governance. The paper brings these out in technical language and methodology.
Design/methodology/approach - An analytical epistemological and comparative
study between mainstream and Islamic conceptions in corporate governance is used to
develop the idea mentioned above. The analytical model used is of an ethico-
economic general equilibrium type with learning variables.
Findings - The Islamic theory of corporate governance under the rubric of its
epistemology of unity of knowledge treated within a systems approach is found to
reduce transaction cost and produce better management decisions.
Research limitations/implications - The paper is mostly theoretical in nature
but carries quantitative facts on the limitations of existing corporate governance
practice at the accountancy level in the global scene.
Practical implications - The adoption of institutional modes to generate
interactive, integrative and evolutionary frameworks of corporate decision making
is derived from the content of the paper. Recent global incidents with World Com
and Enron are cited to show how corporate governance has failed as an effective
means of reducing the immense transaction costs that were engendered by the failure
of these mega corporations.
Originality/value - The paper conveys an original idea that has not been taken
up elsewhere. It reflects the systems approach to the study of behavior in a
corporate setting within the epistemology of systemic unity of knowledge. Besides,
in the Islamic comparison that the paper undertakes in contradistinction to the
mainstream approach, the methodology of systemic unity of knowledge conveys an
altogether new way of studying corporate governance in the related new
institutional framework.
C1 [Choudhury, Masudul Alam] Cape Breton Univ, Econ, Sidney, BC, Canada.
[Choudhury, Masudul Alam] Sultan Qaboos Univ, Coll Commerce & Econ, Muscat,
Oman.
[Harahap, Sofyan S.] Trisakti Univ, Dept Accounting, Accounting, Jakarta,
Indonesia.
[Harahap, Sofyan S.] Trisakti Univ, Postgrad Program Islamic Econ & Finance,
Jakarta, Indonesia.
RP Choudhury, MA (corresponding author), Cape Breton Univ, Econ, Sidney, BC,
Canada.
EM masud_choudhury@capebretonu.ca
NR 26
TC 2
Z9 2
U1 0
U2 0
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2007
VL 7
IS 5
BP 599
EP 611
DI 10.1108/14720700710827185
PG 13
WC Business
GA V87GX
UT WOS:000212645400005
DA 2020-08-12
ER
PT J
AU Choudhury, MA
Hoque, MZ
Hoque, Mohammad Ziaul
TI Corporate governance in Islamic perspective
LA English
DT Article
DE Corporate governance; Islam; Financial economics; Epistemology
AB Purpose - The purpose of this conceptual paper is to develop a discussion
expounding the Islamic perspective of corporate governance as a special case of a
broader decision-making theory that uses the premise of Islamic socio-scientific
epistemology. Islamic epistemology is premised on the divine oneness of God. The
worldly explanation of divine unity is done by means of specific laws and
instruments that make the Islamic epistemology functionally viable in developing,
implementing and inferring from the application of the epistemological rules to
different issues. In the present case the issue is of corporate governance.
Design/methodology/approach - The development and conclusions of this discursive
paper as a conceptual one point out the possible application of a process-oriented
epistemology of unity of knowledge to corporate governance. The underlying
methodology of institutional discourse and integration with dynamic parameters is
formalized.
Findings - The end results of the conceptual framework of this paper on
corporate governance are contrasted with the approach to corporate governance in
mainstream literature. Also the same Islamic theoretical and philosophical
background of corporate governance is examined from the dual (mixed) Islamic
economic and institutional perspective.
Practical implications - The practical implications of the Islamic idea of
corporate governance are immense in studying transaction cost minimization in
decision-making environments. In this regard it is argued that the theory of
Islamic corporate governance presents a discursive process, transparency and
institutional participation that reduce transaction costs.
Originality/value - The paper contributes fresh knowledge in corporate
governance theory in the light of two central issues. First, an organic preference
formation is studied by a process model. Second, transaction cost is minimized
while pursuing a discursive and participatory model of decision making in an
environment governed by the systemic meaning of unity of knowledge as its episteme.
Relevant institutional policies can be developed in the light of such systemic
discursion under the episteme of unity of knowledge understood and applied in the
systemic organic sense.
C1 [Choudhury, Masudul Alam] Univ Coll Cape Breton, Sch Business, Econ, Sydney, NS,
Canada.
[Hoque, Mohammad Ziaul] Sultan Qaboos Univ, Coll Commerce & Econ, Finance,
Muscat, Oman.
RP Choudhury, MA (corresponding author), Univ Coll Cape Breton, Sch Business, Econ,
Sydney, NS, Canada.
EM mchoudhu@uccb.ns.ca
NR 17
TC 49
Z9 49
U1 0
U2 0
PI BINGLEY
SN 1472-0701
EI 1758-6054
PY 2006
VL 6
IS 2
BP 116
EP +
DI 10.1108/14720700610655132
PG 15
WC Business
GA V87AE
UT WOS:000212627900002
DA 2020-08-12
ER
PT J
AU Ibrahim, SHM
Fatima, AH
Htay, SNN
AF Ibrahim, Shahul
Fatima, A.
Htay, Sheila
TI Corporate Governance and Performance: A Comparative Study of Shari'ah
Approved and Non-shari'ah Approved Companies on Bursa Malaysia
LA English
DT Article
DE Islamic accounting; Corporate governance; Malaysia; Corporate
performance
ID HUMAN-RESOURCE MANAGEMENT; FIRM PERFORMANCE; BOARD COMPOSITION;
DETERMINANTS; OWNERSHIP; DIRECTORS; CHOICES
AB This study examines whether Shari'ah approved companies with majority Muslim
directors adopt better corporate governance (CG) than non-Shari'ah approved
companies with majority non-Muslim directors and whether the performance of the
former is better than that of the latter. The objective of this study is to
determine whether religious factor has an influence in adopting corporate
governance mechanisms and in performance. Performance of the companies is measured
in relation to three perspectives, namely, Shari'ah compliance, environmental
performance, and social performance. This study used secondary data and the leading
50 firms were selected from each group based on their market capitalization for the
year 2002. The proxies for good corporate governance are CEO non-duality, the
proportion of non-executive directors on the board, and the proportion of
independent non-executive directors on the board. The proxies used to measure
Shari'ah compliance are the ratio of prohibited income to total income and the
ratio of prohibited expenses to total expenses. The variables used to measure the
environmental and social performance are certification of ISO 14001 and OHsas
18001, respectively. The results generally showed that there is little significant
difference between the CG and performance of Shari'ah approved companies with
majority Muslim directors and non-Shari'ah approved companies with majority non-
Muslim directors, although the former is marginally better for both, in a few
instances.
C1 [Ibrahim, Shahul; Fatima, A.] Int Islamic Univ Malaysia, Kuala Lumpur, Malaysia.
[Htay, Sheila] Int Islamic Coll, Kuala Lumpur, Malaysia.
RP Ibrahim, SHM (corresponding author), Int Islamic Univ Malaysia, Kuala Lumpur,
Malaysia.
EM shahul@iiu.edu.my
NR 48
TC 3
Z9 3
U1 0
U2 1
PI BINGLEY
SN 1985-2517
EI 2042-5856
PY 2006
VL 4
IS 1
BP 1
EP +
DI 10.1108/19852510680001581
PG 24
GA V72JX
UT WOS:000211639200001
DA 2020-08-12
ER
PT J
AU Hassan, S
Christopher, T
AF Hassan, Salleh
Christopher, Theo
TI Corporate governance statement disclosure of Malaysian banks and the
role of Islam
SO ASIAN REVIEW OF ACCOUNTING
LA English
DT Article
DE banks; corporate governance statement; disclosure; influence of
religion; Malaysia; role of Islam
AB The objective of this study is to undertake a qualitative study to examine the
influence of religion, specifically Islam, on corporate governance statement
disclosure in the annual reports of three major Malaysian banks, both conventional
and Islamic banks. It has been argued that given the characteristics and values
espoused by Islam, there is an expectation that in Malaysia, an Islamic
organization like the Bank Islam - should make additional governance disclosures
that would set it apart from conventional banks. The evidence thus far seems to
suggest that the role of Islam has not been as expected. Specifically, being an
Islamic organization (by virtue of label attached to and/or the nature of its
operations) and/or having Malays/Muslim directors leading such Islamic organization
have not resulted in better corporate governance practices and disclosure relative
to other secular banking institutions that have fewer Malay/Muslims directors.
Possible implications of these findings are proffered in the paper.
C1 [Hassan, Salleh] Univ Nottingham, Sch Business, Kuala Lumpur, Malaysia.
[Christopher, Theo] Edith Cowan Univ, Churchlands, WA, Australia.
RP Hassan, S (corresponding author), Univ Nottingham, Sch Business, Kuala Lumpur,
Malaysia.
NR 34
TC 8
Z9 8
U1 0
U2 2
PI BINGLEY
SN 1321-7348
EI 1758-8863
J9 ASIAN REV ACCOUNT
JI Asian Rev. Account.
PY 2005
VL 13
IS 2
BP 36
EP 50
DI 10.1108/eb060786
PG 15
GA V0Y1K
UT WOS:000216665100003
DA 2020-08-12
ER
EF

Savedrecs

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Savedrecs

Uploaded by

Copyright:

Available Formats

FN Clarivate Analytics Web of Science

You might also like