Journal of Islamic Accounting and Business Research最新文献

Purpose

Because brand addiction is one of the most intense forms of consumer–brand relationships, this type of behavior has recently attracted the attention of researchers in the field of consumer behavior management. The purpose of this paper is to investigate the antecedents and consequences of brand addiction among Iranian consumers.

Design/methodology/approach

This research used a cross-sectional study based on a questionnaire to collect data from a sample of 401 people in Iran. Structural equation modeling was used to test the hypotheses.

Findings

This study found that brand love and brand involvement significantly influence brand addiction. Brand addiction was also positively associated with contingent self-esteem (CSE), compulsive shopping and resilience to negative information. Additionally, the results revealed a positive and significant effect of brand involvement on brand love and a similar positive and significant effect of CSE on compulsive shopping.

Originality/value

By examining the antecedents and consequences of brand addiction in an Islamic country, this research offers valuable insights that can enrich the literature on brand addiction in consumer behavior and brand management.

Purpose

This paper aims to examine the relationship between corporate governance mechanisms and firm performance in Qatari non-financial firms over a nine-year period, including the period of high uncertainty caused by the COVID-19 pandemic.

Design/methodology/approach

The study uses data from Refinitiv and employs panel data econometric techniques, namely generalized least squares (GLS), to analyze the impact of board characteristics (board size, board meetings, board gender diversity, board-specific skills, board independence), audit committee features (existence of audit committee, audit committee independence), CEO duality and management scores on both accounting and market performance of Qatari firms. Control variables include firm size, age, leverage and industry classifications.

Findings

The findings suggest that board-specific skills positively influence firm performance, while board size and gender diversity exhibit a non-significant impact. Audit committee independence enhances accounting performance but does not significantly affect market performance. Surprisingly, management scores show a significant yet negative impact on certain financial measures, indicating the need for further investigation.

Practical implications

These insights provide valuable guidance for policymakers, investors and corporate leaders, emphasizing the importance of tailored governance practices in Qatar's unique business landscape.

Originality/value

This study provides unique insights into the governance-performance relationship in the context of Qatar, a region with limited existing research. The inclusion of the COVID-19 period adds a contemporary dimension to the analysis, highlighting the resilience and adaptability of corporate governance practices during times of crisis.

Purpose

Islamic financial technology (fintech), primarily peer-to-peer (P2P) lending, plays a substantial role in funding the unbanked population and small and medium enterprises (SMEs) by offering streamlined financial services through online digital technology. In addition, Islamic fintech lending offers a promising return rate for individual and institutional investors, and therefore, it is considered a worthy investment alternative for diversification. This study aims to examine the determinants of project returns of SMEs on Islamic fintech lending platforms, taking the case study of one Islamic fintech lending platform registered at the Financial Service Authority in Indonesia.

Design/methodology/approach

Project return information and other information, such as the name of the SME raising fund, project duration, location, contract (aqad) and value (amount of money) to be raised, were extracted from the Islamic fintech lending platform. Furthermore, a regression analysis was performed using the completed projects as sample data (n = 122) on the platform.

Findings

The results show that the rate of return is significantly affected by project duration and type of Sharia-compliant contract. Location and project value are, however, found to be statistically insignificant. This study’s overall results align with the Signaling theory, indicating the importance of information for decision-making.

Research limitations/implications

Due to limited access to the data, our study uses data from one of seven Islamic fintech lending platforms; thus, the study results may not be generalized to the general population.

Practical implications

The results suggest that investors aspiring to invest their funds in SME projects on Islamic fintech lending platforms should consider the project duration and contractual agreement since these factors significantly influence the return. Additionally, society may consider the Islamic fintech lending platform a viable investment instrument since its return rate follows the risk-return principle in classical and established finance theories. That is why Islamic fintech lending platforms are competitive compared to the more established ones, such as the Islamic stock market.

Originality/value

To the best of the authors’ knowledge, this study is the first study using an empirical approach to reveal the project return determinants of SMEs on Islamic fintech lending platform.

Purpose

This study aims to highlight the issues encountered by Islamic Banking Institutions (IBIs) while financing the agriculture sector and explore the feasibility of Muzara’ah (crop sharing contract on partnership basis) model based on the concept of revolving credit as an alternative to current models.

Design/methodology/approach

To validate the proposed model and gauge the feasibility of Muzara’ah contract, a qualitative research method is applied based on 10 in-depth interviews with qualified industry experts and practitioners. These interviewees are selected following the purposive sampling method, and they belong to Sharīʿah board members of banking institutions, banking industry professionals engaged in agriculture lending, financial regulators (i.e. central bank personnel) and the farming community. Thematic analysis was applied to analyze the data.

Findings

The findings of this study document that Muzara’ah can be a useful alternative/solution for the growth of agriculture sector portfolio of financial institutions. Muzara’ah is cost-effective than other Islamic products, including Salam (a kind of sale in which payment is made on the spot while the delivery of the goods is deferred), and carries the features of revolving credit as offered by conventional banks/counterparts.

Research limitations/implications

The main limitation of the study is that only 10 in-depth interviews are conducted.

Practical implications

The application of the Sharīʿah compliant Muzara’ah model based on the concept of revolving credit could help increase agricultural productivity and revenues and reduce poverty and food insecurity. The research will help IBIs to develop products on the concept of Muzara’ah for farmers and other sectors of the agriculture industry.

Originality/value

To the best of the authors’ knowledge, Muzara’ah contract is not offered by formal banking institutions in Pakistan. Hence, the findings contribute to the existing literature and facilitate the policymakers and practitioners in implementing this financial product for the growth of the agriculture sector.

Purpose

This study aims to investigate the current practices among selected non-bank financial institutions (NBFIs) in Malaysia in offering Islamic personal financing and the multiple challenges faced by them.

Design/methodology/approach

The qualitative research methodology was used, and primary data was collected using semi-structured interviews with 10 respondents consisting of NBFIs’ representatives and Shariah advisors.

Findings

Most Islamic personal financing practice is based on tawarruq. Among the major challenges faced by NBFIs are the absence of a comprehensive legal framework, Shariah non-compliance risks, cost, human resources and risk management. Recommendations include establishing a proper legal framework and Shariah governance. The study also recommends centralising at the regulatory level aspects such as training, commodity murabahah system and the department performing the Shariah advisory and control functions.

Research limitations/implications

Online interviews were conducted during the early wave of the COVID-19 pandemic in 2020 with a limited number of respondents due to people’s hesitancy to participate during the pandemic.

Practical implications

The findings will guide regulators and industry players concerning the challenges that must be addressed and the recommendations that can be considered in ensuring complete adherence to Shariah principles for the offering of personal financing. Eventually, Muslim society in need of cash will benefit from the broader choice of Shariah-compliant personal financing.

Social implications

The research highlights the weaknesses of self-regulation in guaranteeing Shariah compliance and the need for regulatory intervention.

Originality/value

This is a pioneering empirical study that investigated the offering of Islamic personal financing among NBFIs in Malaysia, the challenges and the way forward.

Purpose

This study aims to investigate the relationship between corporate governance characteristics and risk disclosure in Shariah-compliant financial firms operating in Kuwait. It aims to provide insights into the factors influencing risk disclosure practices within these institutions.

Design/methodology/approach

The research used manual content analysis to quantify risk disclosure levels in the annual reports of 47 Shariah-compliant financial companies listed in Kuwait in 2020. Subsequently, multiple regression analysis was conducted to assess the impact of various corporate governance factors on the extent of risk disclosure.

Findings

The study reveals that while Kuwaiti Shariah-compliant firms exhibit limited risk disclosure in their annual reports, larger boards and committees, along with a higher number of independent directors, positively influence the level of risk disclosure. Interestingly, the size of the Shariah supervisory boards did not show a significant impact on risk disclosure practices.

Practical implications

These findings hold regulatory implications for Kuwait, highlighting the need to ensure information adequacy and promote market efficiency. Additionally, they offer practical insights for managers and investors seeking to optimize fund sourcing and diversify investment portfolios within the context of Shariah-compliant financial institutions.

Originality/value

This study contributes to the existing literature by providing empirical evidence on the relationship between corporate governance characteristics and risk disclosure in the specific context of Shariah-compliant financial firms operating in Kuwait. Furthermore, it identifies avenues for future research to delve into the influence of additional governance factors on risk disclosure practices within this unique financial landscape.

Purpose

This study explores tourist loyalty as a key for marketing Muslim destinations by integrating experience quality, innovation, smart technology and environmental concerns as determinants.

Design/methodology/approach

A quantitative research approach was applied by gathering data from 442 inbound Muslim tourists who visited various tourist destinations in Indonesia. PLS-SEM was utilized to examine the hypothesized association between the construct variables.

Findings

The data analysis reveals that the inclusion of smart technology and environmental concerns strengthens the innovation-quality-loyalty model. Specifically, this study highlights that smart tourism technology, and environmental concerns are essential to drive the quality of destination innovation and tourist holistic experience, which subsequently impact tourist loyalty.

Practical implications

This study provides hints to the marketing managers of Muslim tourist destinations to make their destination sustainable by creating loyalty among their Muslim visitors. In order to achieve this target, Muslim destinations are suggested to utilize smart technology and create environmentally friendly destinations to push innovation.

Originality/value

To the best of the authors’ knowledge, this is the first examination of the amalgamating innovation-quality-loyalty model with smart tourism technology and environmental concerns in the context of halal tourism.

Purpose

The purpose of this study is to examine the effect of the efficiency model on firms performance. The authors also strive to test the compatibility of the efficiency models of Sharia and non-Sharia manufacturing firms.

Design/methodology/approach

The samples are manufacturing industry firms listed on the Indonesia Stock Exchange from 2013 to 2021. This study used 68 firms, with details of 34 Sharia while the remaining 34 were non-Sharia. The data were analyzed using generalized least square (GLS) to test the entire formulated hypothesis. Moreover, current research provides robustness tests to gain more valid and reliable results.

Findings

The results demonstrated that cost efficiency (CE), human capital efficiency (HCE) and capital intensity (CI) affect the firm’s performance. The efficiency model is more appropriate to be applied to the manufacturing Sharia firms in Indonesia. The results are robust even though the feasible GLS and panel-corrected standards errors models are added and a split sample is applied based on certain firm characteristics.

Practical implications

This research can bridge the theory and practice that exist in companies. The authors proposed an efficiency model that can maximize firm performance profits. Moreover, it turns out that the efficiency model is more relevant to be applied to Sharia firms in Indonesia. Furthermore, the research findings have several implications notably for theoretical development, global enterprises and practitioners.

Originality/value

This study expands the literature and discussion about the efficiency model by formulating and investigating CE, HCE and CI on the firm performance which previous studies have rarely elaborated on and tested. In addition, the authors divided the sample into two groups (Sharia and non-Sharia firms) to ensure the compatibility of the implementation of the efficiency model on firm performance.

Purpose

This study aims to find whether sukuk (Islamic bonds) possess a safe haven property for investors or not.

Design/methodology/approach

To analyze this statement, the study used data from MSCI World conventional and MSCI World Islamic indices from August 17, 2012 to June 8, 2022. The study used the generalized autoregressive conditional heteroskedasticity (GARCH) variance technique, the most common technique used in stock data analysis.

Findings

The results dictate the absence of sukuk as a safe haven for investors as both the conventional and Islamic markets show decoupling behavior. The study finds concrete evidence of a strong association between the debt-based bond market and the Islamic sukuk market. As these markets mostly like to move in a parallel direction, a recession in a conventional bond market likely means a recession in the Islamic sukuk market.

Originality/value

This study is unique in incorporating the MSCI World Islamic Index and other Islamic indices of several Muslim countries, which was absent in previous research. Second, this study is unique because it adds a separate regression for the COVID era to show whether the movement of indices changed during regression.