Framing external environmental dimensions as institutional constraints on adopting Islamic financial transactions: empirical evidence from: Libyan commercial banks

Salwa Bin Idrees, Syed Musa Alhabshi, Ashurov Sharofiddin, Anwar Hasan Abdullah Othman
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引用次数: 0

Abstract

Purpose

The purpose of this study is to frame the dimensions of the external institutional environment, namely, cultural-cognitive, normative and regulative dimensions as the main actors in the organisational field. More precisely, Libyan commercial banks have been identified as empirical evidence, to identify constraints of the institutional environment governing the behaviour and decision-making of commercial banks, when adopting Islamic financial transactions.

Design/methodology/approach

A questionnaire has been designed for 14 Libyan commercial banks which is distributed to the Board of Directors, managers, directors of departments, and personnel. The exploratory factor analysis (EFA) and the measurement model by using the first-order and second-order confirmatory factor analysis (CFA) have been applied as essential steps to embody the conceptual framework and test the research hypotheses.

Findings

The results of the EFA indicated sufficient correlation among the dimensions of the external environment. The CFA supported this study’s hypotheses. The modelling showed that the cultural-cognitive, normative and regulative dimensions are institutional constraints impeding Libyan commercial banks’ adoption of Islamic financial transactions. Interestingly, the findings of the CFA align with the EFA findings in supporting the conceptual framework of the research. They portrayed that the cultural-cognitive dimension has been identified by explicit and implicit cognition.

Originality/value

This study systematically embodies the dimensions of the external institutional environment, namely, cultural-cognitive, normative and regulative dimensions, as the main factors in the organisational field to be conceptually rich lenses to investigate social considerations to reinforce institutional thought broadly. The results of this study were consistent with extant Islamic financial literature, reflecting symmetry and similarity across commercial banks, particularly at the first stage of adopting Islamic financial transactions.

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将外部环境因素界定为采用伊斯兰金融交易的制度约束:来自利比亚商业银行的经验证据
本研究的目的是确定外部制度环境的各个层面,即作为组织领域主要行为者的文化-认知、规范和监管层面。更确切地说,是将利比亚的商业银行作为实证,以确定在采用伊斯兰金融交易时,制约商业银行行为和决策的制度环境。探索性因子分析(EFA)和一阶和二阶确证性因子分析(CFA)测量模型是体现概念框架和检验研究假设的重要步骤。CFA 支持了本研究的假设。建模结果表明,文化-认知、规范和监管维度是阻碍利比亚商业银行采用伊斯兰金融交易的制度约束。有趣的是,CFA 的结果与 EFA 的结果一致,都支持研究的概念框架。原创性/价值本研究系统地体现了外部制度环境的各个维度,即文化认知维度、规范维度和监管维度,将其作为组织领域的主要因素,从概念上丰富了研究社会因素的视角,广泛地强化了制度思想。本研究的结果与现有的伊斯兰金融文献一致,反映了各商业银行的对称性和相似性,特别是在采用伊斯兰金融交易的第一阶段。
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来源期刊
CiteScore
4.40
自引率
11.10%
发文量
67
期刊介绍: The International Journal of Ethics and Systems (formerly named Humanomics, the International Journal of Systems and Ethics) is a multidisciplinary journal publishing peer review research on issues of ethics and morality affecting socio-scientific systems in epistemological perspectives. The journal covers diverse areas of a socio-scientific nature. The focus is on disseminating the theory and practice of morality and ethics as a system-oriented study defined by inter-causality between critical variables of given problems.
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