Search results for: Shariah legitimacy

Authors: Mohammed Buhaya

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Purpose: The purpose of this study is to analyze the decision, implementation process and the outcomes of the introduction of the balanced scorecard in a developing country having particular regard to the impacts of agency and institutional, endogenous and exogenous. Design/methodology/approach: This study builds on a longitudinal explanatory case study, an institutional framework, especially Ter-Bogt and Scapens (2014) framework. Findings: Empirical findings drawn from a telecom company indicate that the dynamics of change of the company are influenced by the interconnection of external institutions and the company's situation and internal institutions encompassing issues of power, politics, and culture. Organizational practice introduced to secure external legitimacy is not always the case. The adoption of the balanced scorecard was the instrumental manner and had revolutionary change. Originality/value: In contrast to much previous research on management accounting practice, the paper analyses the process of change in one of developing country. The study also sheds new light on the power of religion as one of institutional logics and how this logic rises to potential to influence management accounting change among actors and achieving the company’s targets. This paper highlights how the culture and values can play a vital role in making the process of change smoother.

Keywords: balanced scorecard, institutional, management accounting practice, rules, and routines

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Authors: Saad Saif

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Tourism promotion in the digital age is significantly influenced by social media, particularly in developing travel markets such as Pakistan. This study examines how travel bloggers use social media to inspire people to plan journeys and increase trust in destinations. It examines how trustworthiness works as a moderator to enhance the legitimacy of social media posts. This study aims to comprehend the dynamics of social media's influence on the travel and tourism industry. This study investigates the influence of travel bloggers' content, with a focus on tone (positive/negative) and emotional intensity (strong/weak), on prospective Pakistani travelers' travel preferences and levels of trust toward a particular location. The study used an experimental design to validate its hypotheses. The results indicate that the emotive content and tone of bloggers influence travel intentions and that destination trust mediates this relationship. It is interesting to observe that variations in the emotional intensity of positive and negative ratings are not always accompanied by changes in destination trust and travel intent. In addition, the influence of a blogger's review tone on travel intention and destination trust is moderated by the credibility of online reviews, whereas the influence of emotional intensity on these outcomes is unaffected by review credibility.

Keywords: tourism marketing, destination trust, travel intention, trustworthiness

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Authors: Andrey V. Malyshev, Anna B. Petrova, Anatoly P. Surzhikov

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The article presents the results of the influence of diamagnetic additives on the defects level of ferrite ceramics. For this purpose, we use a previously developed method based on the mathematical analysis of experimental temperature dependences of the initial permeability. A phenomenological expression for the description of such dependence was suggested and an interpretation of its main parameters was given. It was shown, that the main criterion of the integral defects level of ferrite ceramics is the relation of two parameters correlating with elastic stress value in a material. Model samples containing a controlled number of intergranular phase inclusions served to prove the validity of the proposed method, as well as to assess its sensitivity in comparison with the traditional XRD (X-ray diffraction) analysis. The broadening data of diffraction reflexes of model samples have served for such comparison. The defects level data obtained by the proposed method are in good agreement with the X-ray data. The method showed high sensitivity. Therefore, the legitimacy of the selection relationship β/α parameters of phenomenological expression as a characteristic of the elastic state of the ferrite ceramics confirmed. In addition, the obtained data can be used in the detection of non-magnetic phases and testing the optimal sintering production technology of soft magnetic ferrites.

Keywords: cure point, initial permeability, integral defects level, homogeneity

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Authors: Ahmad Sanusi Azmi, Amiruddin Mohd Sobali, Zulhilmi Mohamed Nor, Mohd Yusuf Ismail, Amran Abdul Halim

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The non-Muslim communities’ reactions to the denials of the prophethood of Muḥammad in the ninth century created an impact on the development of Islamic prophetology. Vigorous refutations from non-Muslim community, specifically the Jews, Christians and Brahmins urged Muslims to develop a solid mechanism in defense of the status of their beloved prophet. One of the works that has been recognized as an apparatus to defend the Prophet Muḥammad veracity is al-Dīn wa al-Dawla composed by Ibn Rabban, a physician of the Caliph’s court. This study analyses the novelty of his approaches in exploring Sīra Nabawiyya and defending the prophethood of Muḥammad. The study employed a descriptive, comparative and critical approach where it analyses and extracts the author original approach in explaining the legitimacy of Muḥammad’s prophethood and enlightening the Prophet’s biography. The study in its finding argues that most of Ibn Rabban arguments in this work are actually developed from the foundations of Biblical scripture. His style of interpreting Biblical passages indicates a possible dependence on Ibn al-Layth’s letter. However, the way in which he presents Qur’ānic references seems not to be in accordance with Ibn al-Layth’s perspective. This is where the novelty of his approach is distinguished. As a result, the study also affirms that Ibn Rabban imposes his own standards of selection and interpretation of Qur’ānic verses when he applies it as reference to the Prophet life.

Keywords: Sīra Nabawiyya, Ibn Rabban, al-Dīn wa al-Dawla, Christian, Dalāil Nubuwwa

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Authors: Mohammed Isah Shehu

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This paper examined the context of globalization and Islam and accommodation or containment of one by the other. The paper is born out of the misconception and misunderstanding among many people that globalization is purely Western, anti-Islam and that Islam, globalization and Islam are diametrically opposed as such have no places for accommodating each other. The study used secondary sources to gather data. The study found that from its origin, Islam is in the whole context, a globalized religion and the contemporary globalization is already contained by Islam; that while contemporary globalization is centered on Western world, values and preferences (Western civilization, information and communication technology, free markets, trade and investments); some of the major foundation works that are aiding globalization were originally handiworks of past great Muslims (Islamic civilizations, Order of Algebra, tools of Navigation, Calligraphy, Medicine, Astronomy et cetera) whose major values are not Islamic; with globalization the Muslims have greater opportunities of spreading of Islam and practicing it in a most conducive atmosphere, easy and fast linkage with their fellow Muslim brothers wherever they may be; easier and freer world of trade and have the best opportunities to most things. The study however observed that Western contemporary globalization poses threats to religions such as those of globalization of immorality, injustice, trade with anti-Islamic terms and conditions, internationalized crime et cetera. Muslims would have to avoid or be cautious of many things for Islam is a complete religion that has what is forbidden and allowed (halaal and haramm) based on principles of (Shariah, justice to all, humanity and compassion, obedience to and seeking Allah’s pleasure); to Muslims, Contemporary globalization has to be in conformity with original provisions of Islam. The study recommended that Muslims must rise up in seeking knowledge on Islam and all other fields, further intellectual explorations of works by Muslim scholars/thinkers so that any advancement in globalization would be properly domesticated within Islam for the Muslims to make optimum use of any advancement to the benefit of Islam.

Keywords: accommodation, containment, Islam, globalization

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Authors: Anouschka Swart

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In 2023, sport faces a plethora of challenges including but not limited to match-fixing, corruption and doping to its integrity that, threatens both the commercial and public appeal. The continuous changes and commercialisation that has occurred within sport have led to a variety of consequences resulting in the need for ethics to be revived, as it used to be in the past to ensure sport is not in danger. In order to understand governance better, the Institute of Directors in Southern Africa, a global network of professional firms providing Audit, Tax and Advisory services, outlined a process explaining all elements with regards to corporate governance. This process illustrates a governing body’s responsibilities as strategy, policy, oversight and accountability. These responsibilities are further elucidated to 16 governing principles which are highlighted as essential for all organisations in order to achieve and deliver on effective governance outcomes. These outcomes are good ethical culture, good performance, effective control and legitimacy therefore, the aim of the study was to investigate the general state of governance within the clubs affiliated with a rugby club in South Africa by utilizing the King IV Code as the framework. The results indicated that the King Code IV principles are implemented by these rugby clubs to ensure they demonstrate commitment to corporate governance to both internal and external stakeholders. It is however evident that a similar report focused solely on sport is a necessity in the industry as this will provide more clarity on sport specific problems.

Keywords: South Africa, sport, King IV, responsibilities

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Authors: Bela Sulistyaguna, Yuli Chomsatu Samrotun, Endang Masitoh Wahyuningsih

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The purpose of this research was to analyze the influence of company size, liquidity, profitability, leverage, company age, industry type, board of director, board of commissioner, audit committee and public ownership on the corporate social responsibility disclosure. The grand theories of this research are agency theory, stakeholders theory, and legitimacy theory. Analysis of data using multiple linear regression method with SPSS 22.0 for mac. The sample consists of companies listed on the Indonesia Stock Exchange (IDX) and disclosed the Global Reporting Initiative (GRI) sustainability reports from 2013 to 2018. The final sample of this research was 19 companies that obtained by purposive sampling. The results of the research showed that, simultaneously, company size, liquidity, profitability, leverage, company age, industry type, board of director, board of commissioner, audit committee and public ownership has an influence on the corporate social responsibility disclosure. Partially, the results showed that liquidity and leverage has an influence on the corporate social responsibility disclosure. Meanwhile, company size, profitability, company age, industry type, board of director, board of commissioner, audit committee and public ownership has no influence on corporate social responsibility disclosure.

Keywords: corporate social responsibility, CSR disclosure, Indonesia

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Authors: Pradeep Kulshrestha, Maulana Ayoub Ali

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The level of penetration of Islamic banking products and services has recorded a reasonable growth at an exponential rate in many parts of the world. There are many factors which have contributed to this growth including, but not limited to the rapid growth of number of Muslims who are uncomfortable with the conventional ways of banking, interest and higher interest rates scheduled by conventional banks and financial institutions as well as the financial inclusion campaign conducted in many countries. The system is facing legal challenges which open the research fdoor for practitioners and academicians for the sake of finding out solutions to those challenges. This paper tries to investigate the development of the Islamic banking system in the United Kingdom (UK), Saudi Arabia, Malaysia, Iran, Kenya, Nigeria and Uganda in order to understand the modalities which have been employed to run an Islamic banking system in the aforementioned countries. The methodology which has been employed in doing this research paper is Doctrinal, of which legislations, policies and other legal tools have been carefully studied and analysed. Again, papers from academic journals, books and financial reports have been deeply analysed for the purpose of enriching the paper and come up with a tangible results. The paper found that in Asia, Malaysia has created the smoothest legal platform for Islamic banking system to work properly in the country. The United Kingdom has tried harder to smooth the banking system without affecting the conventional banking methods and without favouring the operations of Islamic banks. It also tries harder to make UK as an Islamic banking and finance hub in Europe. The entire banking system in Iran is Islamic, while Nigeria has undergone several legal reforms to suit Islamic banking system in the country. Kenya and Uganda are at a different pace in making Islamic Banking system work alongside the conventional banking system.  

Keywords: shariah, Islamic banking, law, alternative banking

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Authors: A. F. Chikerema

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Political leadership in Africa vary from the “criminalization” of the state to political leadership as “dispensing patrimony”, the “recycling” of elites and the use of state power and resources to consolidate political and economic power (Van Wyk:2007: p1). Political parties just like any other organizations always need leadership renewal and revamping, besides ideological and policy renewal. Zimbabwean politics present a shunned leadership renewal as reflected by the two champion political parties namely ZANU PF and MDC-T. Despite hot political power contestation between MDC and ZANUPF, the parties` internal structures are hinged on the two Godfather or Father figure that is Mugabe and Tsvangirai. They are the “labels “behind the two political parties. The suppressing of dissent voice on succession and renewal of leadership in the two parties has brew resistance from within and this has resulted in factional fights within the two political parties. The disgruntlement in the political parties has led to the stemming of the ‘bhoramusango concept’ from the electorate and party cadres whereby they are throwing or donating away their votes to other political parties. The ‘bhoramusango’ concept haunted ZANUPF in 2008 leading to its defeat by the opposition MDC-T .The paper takes the form of an analytic approach on leadership crisis in Zimbabwe. The narrative is framed on key concepts of leadership: namely leadership renewal and leadership succession, as agents operating within inherited structures negotiated political settlements, and form structures of leadership. Rulers gave priority to the consolidation of state power by installing party loyalists in the armed forces, civil service and local government. As part of this process, rulers have ensured consolidated power and authority.

Keywords: leadership renewal, leadership succession, ‘Bhora Musango’, political culture, political legitimacy

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Authors: Amós García Montaño

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In a democracy, a public policy must be developed within the regulatory framework and considering citizen participation in its planning, design, execution, and evaluation stages, necessary factors to have both legal support and sufficient legitimacy for its operation. However, the complexity and magnitude of certain public problems results in difficulties for the generation of consensus among society members, leading to unstable and unsuccessful scenarios for the exercise of the right to citizen participation and the generation of effective and efficient public policies. This is the case of public policies against corruption, an issue that in Mexico is difficult to define and generates conflicting opinions. To provide a possible solution to this delicate reality, this paper analyzes the principle of reasonableness as a tool for identifying the basic elements that guarantee a fundamental level of the exercise of the right to citizen participation in the fight against corruption, adopting elements of human rights indicator methodologies. In this sense, the relevance of having a legal framework that establishes obligations to incorporate proactive and transversal citizen participation in the matter is observed. It is also noted the need to monitor the operation of various citizen participation mechanisms in the decision-making processes of the institutions involved in the fight and prevention of corruption, which lead to an increase in the improvement of the perception of the citizen role as a relevant actor in this field. It is concluded that the principle of reasonableness is presented as a very useful tool for the identification of basic elements that facilitate the fulfillment of human rights commitments in the field of public policies.

Keywords: anticorruption, public participation, public policies, reasonableness

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Authors: Mónica Catarina Soares

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Neoliberal rationality is currently changing the ways concepts like freedom or equality are framed. As an omnipresent and context-sensitive paradigm, homo oeconomicus is continuously taking place in realms of life previously insulated from economic and market-driven principles. This presentation is based on the argument that, more than ever, this paradigm is nowadays framing institutional and everyday discourses in regard to social problems. Although neoliberal rationality is based on the putative ideological basis that everyone is equal, equality seems to be reshaped by specific meanings apprehended by this rationality. In this sense, an illusion of equality seems to be relevant to legitimize different social inequalities (e.g., access to health care or to habitation). Political psychology has studied how ideology is relevant to legitimize market and unequal systems, but still the specific relation between markets, (in)equality and neoliberal languages is not widely addressed. The goal is to discuss the smithereens of the neoliberal rationality when it comes to legitimizing social inequalities by contesting the arguments of meritocracy, progressive freedom and minimal guarantees obeying to market-rules and principles. This analysis can be helpful to grasp for instance the continuously dismantlement of the welfare-state in different countries of the global north and how it is turning the regulation/emancipation tension inside out. The ultimate goal is to contribute to the breaking up of a paradigm that is still too big to capture, too depoliticized and chameleonic to fully acknowledge the biopolitics of power that is helping to create it.

Keywords: discourses, legitimacy, neoliberal rationality, social inequality

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Authors: Malik Imtiaz Ahmad

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The prime sources of Islamic Law or Shariah are Quran and Sunnah and is applied to the personal and public affairs of Muslims. Islamic law is deemed to be divine and furnishes a complete code of conduct based upon universal values to build honesty, trust, righteousness, piety, charity, and social justice. The primary focus of this paper was to examine the development of Islamic jurisprudence (Fiqh) over time and its relevance to the field of Islamic finance. This encompassed a comprehensive analysis of the historical context, key legal principles, and their application in contemporary financial systems adhering to Islamic principles. This study aimed to elucidate the deep-rooted connection between Islamic law and finance, offering valuable insights for practitioners and policymakers in the Islamic finance sector. Understanding the historical context and legal underpinnings is crucial for ensuring the compliance and ethicality of modern financial systems adhering to Islamic principles. Fintech solutions are developing fields to accelerate the digitalization of Islamic finance products and services for the harmonization of global investors' mandate. Through this study, we focus on institutional governance that will improve Sharia compliance, efficiency, transparency in decision-making, and Islamic finance's contribution to humanity through the SDGs program. The research paper employed an extensive literature review, historical analysis, examination of legal principles, and case studies to trace the evolution of Islamic law and its contemporary application in Islamic finance, providing a concise yet comprehensive understanding of this intricate relationship. Through these research methodologies, the aim was to provide a comprehensive and insightful exploration of the historical evolution of Islamic law and its relevance to contemporary Islamic finance, thereby contributing to a deeper understanding of this unique and growing sector of the global financial industry.

Keywords: sharia, sequencing Islamic jurisprudence, Islamic congruent marketing, social development goals of Islamic finance

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Authors: Alireza Naserpoor

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Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives.

Keywords: futures contracts, hedging, shari’ah compliant instruments, standard parallel salam

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Authors: Lubica Hikkerova, Jean-Michel Sahut

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Environmental protection remains a global challenge but, since 2012, there has been a progressive decline in corporate engagement in environmental protection issues. This study seeks to investigate the role of financial capacity and governance in improving the level of environmental engagement of companies. The regression technique is applied to data on 351 large European companies from the ASSET4-ESG database for the 2007-2015 period. Firstly, the results show that the companies in the sample are fairly engaged in environmental protection, with a strong dispersion representing nearly four times the average. This means that the companies in the sample do not share the same level of engagement in matters of environmental protection, some being more committed than others. Secondly, the results reveal that the financial capacity of the company, as assessed through its indicators, has a significant effect on its level of environmental protection engagement in the present sample. This effect is more positive the higher the profits the company makes, and more negative the more heavily indebted or, the higher the rates of dividends it pays per share. Lastly, the results also show that a better quality of governance plays an important role in the decision to undertake actions leading to environmental protection. More specifically, the degree of management implication in the running of the business, the respect of the rights of the shareholders, the effectiveness of the control exerted by the board of directors, and, to a lesser extent, the independence of the audit committee, are variables which have a positive and significant influence on the level of environmental engagement of companies.

Keywords: financial capacity, corporate governance, environmental engagement, stakeholder theory, theory of organizational legitimacy, theory of resources and capabilities

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Authors: Harish Krishnamurthy, Anna Lafontant, Ren Yi

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Unidentified Flying Objects (UFOs) have been an interesting topic for most enthusiasts and hence people all over the United States report such findings online at the National UFO Report Center (NUFORC). Some of these reports are a hoax and among those that seem legitimate, our task is not to establish that these events confirm that they indeed are events related to flying objects from aliens in outer space. Rather, we intend to identify if the report was a hoax as was identified by the UFO database team with their existing curation criterion. However, the database provides a wealth of information that can be exploited to provide various analyses and insights such as social reporting, identifying real-time spatial events and much more. We perform analysis to localize these time-series geospatial events and correlate with known real-time events. This paper does not confirm any legitimacy of alien activity, but rather attempts to gather information from likely legitimate reports of UFOs by studying the online reports. These events happen in geospatial clusters and also are time-based. We look at cluster density and data visualization to search the space of various cluster realizations to decide best probable clusters that provide us information about the proximity of such activity. A random forest classifier is also presented that is used to identify true events and hoax events, using the best possible features available such as region, week, time-period and duration. Lastly, we show the performance of the scheme on various days and correlate with real-time events where one of the UFO reports strongly correlates to a missile test conducted in the United States.

Keywords: time-series clustering, feature extraction, hoax prediction, geospatial events

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Authors: Grace Rademacher

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Trauma” of the Kingdom of Hungary and the “Lost Cause” of the American Confederacy. Applying Nicole Maurantonio’s articulation of “confederate exceptionalism” and Svetlana Boym’s definition of “restorative nostalgia”, this article argues that, via memorialization and public discourse, both far right bodies flood their constituencies with narratives of nostalgia and martyrdom to sow existential anxieties about past and prophetic victimhood, all under the guise of protecting or restoring heritage. Linking this practice to gamification and conspiracy theorizing and following the work of Patrick Jagoda, this article identifies such industries of nostalgia as means by which the far right in both nations can partake in the “immanent and improvisational process of problem making.” Reified through monuments and references to the Trianon Trauma and the American confederacy, political actors “problem make” by alleging that they are victims of the West or the Left, subject to the cruel whims of liberalism and denial of historical legitimacy. In both nations, relying on their victimhood, pundits and politicians can appeal to white supremacists and distract citizens from legitimate active conflicts, such as wars or democratic rollbacks, redirecting them to fictional, mythical attacks on Hungarian or American society and civilization. This article will examine memorials and monuments as “lieux de memoire” and identify the purposeful similarities between the discourse of public figures and politicians such as María Schmidt, János Lázár, and Viktor Orbán, with that of Donald Trump and pundits such as Tucker Carlson.

Keywords: nationalism, political memory, white supremacy, trianon

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Authors: Finn Lannon, Jenny Roth, Roland Deutsch, Eric Igou

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The world continues to be rife with economic inequality, which has an impact on how people think and behaves in response to large and often growing gaps in wealth. Large gaps in earnings between groups within a particular organization, area or society can create tension between groups. Collective action tendencies (to protest, sign a petition, vote on behalf of an ingroup etc.) are also a growing phenomenon globally. Research shows that economic inequality promotes social processes such as appraisals of illegitimacy, which are recognized antecedents of collective action. This paper examines different types of collective action intentions among middle-status group members in response to economic inequality in two studies. Study 1 (N = 72) demonstrates a causal link between high economic inequality and collective action intentions of middle-status group members both to reduce inequality and to improve group status. A second pre-registered study (N = 432) examines key drivers of these relationships, including illegitimacy appraisals and direction of intergroup comparison. Adding to the current understanding of the topic, distinctions between the illegitimacy of one’s group status and the illegitimacy of societal inequality are found to mediate key relationships between economic inequality and relevant collective action types. The direction of intergroup comparison (upwards vs. downwards) is also shown to have a significant impact on collective action intentions to improve group status. Findings add to the understanding of the consequences of economic inequality and drivers of collective action intentions.

Keywords: economic inequality, collective action, legitimacy, social psychology

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Authors: Rana Eijaz Ahmad

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This paper is going to explain about the Fifth Political Theory that challenges all existing three plus one (Capitalism, Marxism and Fascism + Fourth Political Theory) theories. It says, ‘it is human ambiance evolve any political system to survive instead of borrowing other imported thoughts to live in a specific environment, in which Legitimacy leads to authority and promotes humanism.’ According to this theory, no other state is allowed to dictate or install any political system upon other states. It is the born right of individuals to choose a political system or a set of values that are going to make their structures and functions efficient enough to support the system harmony and counter the negative forces successfully. In the post 9/11 era, it is observed that all existing theories like Capitalism, Marxism, Fascism and Fourth Political Theory remained unsuccessful in resolving the global crisis. The so-called war against terrorism is proved as a war for terrorism and creates a vacuum on the global stage, worsening the crisis. The fifth political theory is an answer to counter terrorism in the twenty-first century. It calls for accountability of the United Nations for its failure in sustaining peace at global level. Therefore, the UN charter is supposed to be implemented in its true letter and spirit. All independent sovereign states have right to evolve their own system to carry out a political system that suits them best for sustaining harmony at home. This is the only way to counter terrorism. This paper is comprised of mixed method. Qualitative, quantitative and comparative methods will be used along with secondary sources. The objective of this paper is to create knowledge for the benefit of human beings with a logical and rational argument. It will help political scientists and scholars in conflict management and countering terrorism on pragmatic grounds.

Keywords: capitalism, fourth political theory, fifth political theory, Marxism, fascism

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Authors: Abosede Ijabadeniyi, Jeevarathnam P. Govender

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Prevailing strategic Corporate Social Responsibility (CSR) research is predominantly centred around the predictive implications of the construct on behavioural outcomes. This phenomenon limits the depth of our understanding of the trajectory of strategic CSR. The purpose of this paper is to investigate the mediating effects of CSR expectations on the relationship between consumer value and purchase behaviour by identifying the implications of the multidimensionality of CSR (economic, legal, ethical and philanthropic) on the latter. Drawing from the stakeholder theory and its interplay with the prevalence of Ubuntu values; the underlying force which governs the values of South African camaraderie, we hypothesise that the multidimensionality of CSR expectations has positive mediating effects in the relationship between consumer value and purchase behaviour. Partial Least Square (PLS) path modelling was employed, using six measures of the average path coefficient (APC) to test the relationship between the constructs. Results from a sample of mall shoppers of (n=411), based on a survey conducted across five major malls in Durban, South Africa, indicate that only the legal dimension of CSR serves as a mediating factor in the relationship among the constructs. South Africa’s unique history of segregation, leading to the proliferation of spontaneous organisational approach to CSR and higher expectations of organisational legitimacy are identified as antecedents of consumers’ reliance on the law (legal CSR) to redress the ills of the past, sustainable development, and socially responsible behaviour. The paper also highlights theoretical and managerial implications for future research.

Keywords: consumer value, corporate marketing, corporate social responsibility, purchase behaviour, Ubuntu

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Authors: Giulia Dal Maso

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Within the contemporary financial capitalist configuration, the interplay of Chinese statecraft and financialization has shaped a new ‘ecology of financial expertise.’ This indicates the emergence of a new financial technocratic governance; that is increasingly changing the Chinese economy, reducing the state’s administrative and fiscal functions and increasing state assets in accordance with a new shareholder logic. In this shift, the creation of the stock market by the state was conceived not only as a new redistributor of wealth but as a ‘clearing house’ for social discontent resulting from work casualization, wage repression and a lack of social welfare. Since its inception in the wake of Deng Xiaoping’s reforms, the Chinese state has used the stock market as a means of securing social legitimation by providing a prearranged space where the disaggregated and vulnerable subjects left behind by the dismantlement of the collective work units of the Maoist period (danwei) can congregate. However, fieldwork which included both participant observation as well as interviews with investors in brokerage rooms in Shanghai (where one of only two mainland Chinese stock exchanges is situated) reveals that both new formal and informal financial experts—namely the haigui (Chinese returnees with a financial degree abroad) and sanhu (individual Chinese scattered players), are equally dissatisfied with their investing activities. They express discontent with the state, which they hold responsible for the summer 2015 financial crisis and for the financial turmoil that jeopardizes China’s financial and political project. What the investors want is a state that will guarantee the continuation of the current gupiaore ‘stock fever’. This paper holds that, by embracing financialization, the state is undermining the contract at the base of its legitimacy.

Keywords: Chinese state, Deng Xiaoping, financial capitalism, individual investors

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Authors: Muhammad Hikmah

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Based on the population census in 2015, Indonesia consists of 254.9 millions of people, and 80% of them are Muslims (Data of Central Bureau of Statistic). Indonesia becomes the highest number of Muslims civilization in the world. The question would be, is the number of population proportional to the growth of Syariah transaction in Indonesia? It is going to be discussed in this research. The problem limitation of this research is in Syariah Banking. Therefore, Syariah transaction in this study is described as transaction only in Syariah Banking. The researcher focused on the study in Yogyakarta, a city in Indonesia. The development of Syariah Bank assets until January 2016, based on statistic data launched by Financial Services Authority (FSA), has increased Rp 287.44 trillion, however, a total amount of bank achieves Rp 6.198,15 trillions. It means that the assets of Syariah Bank are only 4.64% from the total amount of banking assets in Indonesia, though, Syariah Banking was first established in 1991, known as Bank Muamalat. As we can see that in these 25 years, Syariah Banking could only reach that number. Based on the press conference of FSA and Syariah Banking Exhibition iB Vaganza in 2015, the number of Syariah Bank’s customers are under 10 millions. With 80% of Muslims, Syariah Bank is not able to be a market leader in Indonesia. This will be answered in this research, how much the interest if Muslims in Yogyakarta towards Syariah Bank compared to conventional bank. This study will be conducted in Yogyakarta. The sampling will represent to the muslims having good knowledge of Islam, such as dawn prayer worshipers in some mosques in Yogyakarta. There are some reasons why Indonesian muslims are not interested in Syariah Bank, such as the people do not put trust in Syariah Bank; there are some obligation where they work to have conventional bank; business matters services which is not covered by Syariah Bank where most of them are limited to the laws authorities; and there is no sufficient knowledge about the importance of syariah transaction from religion point of view. Each of them is going to be discussed in this research. The suggestions of this study are we should share our knowledge about Islamic transaction anywhere and we need to support Syariah Bank to have Syariah principles. For those who have the authority should be active as well to announce the rules of the constitution supporting the development of syariah transaction in order to be apply perfectly. We hope that trust from the people will increase, and we should provide Syariah Banking products which fulfill business needs. Finally, syariah transaction will be the solution for all people in the world in bussiness transaction.

Keywords: shariah, Islamic, banking, Indonesia

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Authors: Alexandre Bedard, Johane Brunet, Wendellyn Reid

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Public Television is constantly trying to maintain and develop its audience. And to achieve those goals, it needs a strong and clear vision. Vision or envision is a multidimensional process; it is simultaneously a conduit that orients and fixes the future, an idea that comes before the strategy and a mean by which action is accomplished, from a business perspective. Also, vision is often studied from a prescriptive and instrumental manner. Based on our understanding of the literature, we were able to explain how envisioning, as a process, is a creative one; it takes place in the mind and uses wisdom and intelligence through a process of evaluation, analysis and creation. Through an aggregation of the literature, we build a model of the envisioning process, based on past experiences, perceptions and knowledge and influenced by the context, being the individual, the organization and the environment. With exploratory research in which vision was deciphered through the discourse, through a qualitative and abductive approach and a grounded theory perspective, we explored three extreme cases, with eighteen interviews with experts, leaders, politicians, actors of the industry, etc. and more than twenty hours of interviews in three different countries. We compared the strategy, the business model, and the political and legal forces. We also looked at the history of each industry from an inertial point of view. Our analysis of the data revealed that a legitimacy effect due to the audience, the innovation and the creativity of the institutions was at the cornerstone of what would influence the envisioning process. This allowed us to identify how different the process was for Canadian, French and UK public broadcasters, although we concluded that the three of them had a socially constructed vision for their future, based on stakeholder management and an emerging role for the managers: ideas brokers.

Keywords: envisioning process, international comparison, television, vision

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Authors: Irfan Ameer

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Bribery control in developing countries is the biggest challenge for multinational enterprises (MNEs). Bribery practices are socially embedded and institutionalized, and therefore may achieve collective legitimacy in the society. MNEs often have better and strict norms, codes and standards about such corrupt practices. Bribery in B2B sales relationships has been researched but studies focusing on the role of firm in controlling bribery are scarce. The main objective of this paper is to explore MNEs strategies to control bribery in an environment where bribery is institutionalized. This qualitative study uses narrative approach and focuses on key events, actors and their role in controlling bribery in B2B sales relationships. The context of this study is pharmaceutical industry of Pakistan and data is collected through 23 episodic interviews supported by secondary data. The Corporate social responsibility (CSR) literature e.g. CSR three domain model and CSR pyramid is used to make sense of MNEs strategies to control bribery in developing countries. Results show that MNEs’ bribery control strategies are rather emerging based on the role of some key stakeholders and events which shape bribery strategies. Five key bribery control strategies were found through which MNEs can control both demand and supply side of bribery: bribery related codes development; bribery related codes implementation; focusing on competitive advantage; find mutually beneficial ethical solution; and collaboration with ethical stakeholders. The results also highlight the problems associated with each strategy. Study is unique in a sense that it focuses on stakeholders having unethical interests and provides guidelines to MNEs in controlling bribery practices in B2B sales relationships.

Keywords: bribery, developing countries, CSR, narrative research, B2B sales, MNEs

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Authors: Timothy Mossman

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The number of adolescent children accompanying their immigrant parents to Canada has steadily increased since the 1990s. Much of the applied linguistics literature on these so-called ‘Generation 1.5’ youth has focused on their deficiencies as academic writers in US Rhetoric and Composition and ESL contexts in higher education and the stigma of ESL in US K-12 contexts. However, the literature on Generation 1.5 students and identity in Canadian higher education is limited. This qualitative study investigates the processes of identity construction of three Generation 1.5 students studying at a university in Metro Vancouver to find out what types of identities and representations of self and other they make relevant, the meanings they attribute to their identities, and what motivates them to construct these identities. The study analyzes the accounts and experiences of the participants in interviews, focus groups, and texts and as ‘culture-in-action,’ positing that they constructed identities as social categories associated with the languages and social practices of their countries of birth, in liminal spaces among a continuum between Canada and their countries of birth, and a spectrum of related cultural representations. Ideas and beliefs associated with broader ‘macro’ social structures in Canadian society related to language, culture, legitimacy, immigration, power, distinction, and racism were shown to be transcended in and through their representations of themselves and others. Data suggest that moving to Canada caused participants to experience discontinuities between their cultures, languages, and social practices, and in some cases a conflicting sense of self. The study brings implications for finding ways to understand the complexity of immigrant students, avoid reifying and generalizing about them, and not see them as stuck-in-between or lacking.

Keywords: culture-in-action, generation 1.5, identity, membership categorization analysis

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Authors: Mirzet SeHo, Alaa Alaabed, Mansur Masih

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In theory, risk-sharing-based financing (RSF) is considered a corner stone of Islamic finance. It is argued to render Islamic banks more resilient to shocks. In practice, however, this feature of Islamic financial products is almost negligible. Instead, debt-based instruments, with conventional like features, have overwhelmed the nascent industry. In addition, the framework of present-day economic, regulatory and financial reality inevitably exposes Islamic banks in dual banking systems to problems of conventional banks. This includes, but is not limited to, interest rate risk. Empirical evidence has, thus far, confirmed such exposures, despite Islamic banks’ interest-free operations. This study applies system GMM in modeling the determinants of RSF, and finds that RSF is insensitive to changes in interest rates. Hence, our results provide support to the “stability” view of risk-sharing-based financing. This suggests RSF as the way forward for risk management at Islamic banks, in the absence of widely acceptable Shariah compliant hedging instruments. Further support to the stability view is given by evidence of counter-cyclicality. Unlike debt-based lending that inflates artificial asset bubbles through credit expansion during the upswing of business cycles, RSF is negatively related to GDP growth. Our results also imply a significantly strong relationship between risk-sharing deposits and RSF. However, the pass-through of these deposits to RSF is economically low. Only about 40% of risk-sharing deposits are channeled to risk-sharing financing. This raises questions on the validity of the industry’s claim that depositors accustomed to conventional banking shun away from risk sharing and signals potential for better balance sheet management at Islamic banks. Overall, our findings suggest that, on the one hand, Islamic banks can gain ‘independence’ from conventional banks and interest rates through risk-sharing products, the potential for which is enormous. On the other hand, RSF could enable policy makers to improve systemic stability and restrain excessive credit expansion through its countercyclical features.

Keywords: Islamic banks, risk-sharing, financing, interest rate, dynamic system GMM

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Authors: Anil Anand

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Despite enormous strides made during the past decade, particularly with the adoption and expansion of community policing, there remains much that police leaders can do to improve police-public relations. The urgency is particularly evident in cities across the United States and Europe where an increasing number of police interactions over the past few years have ignited large, sometimes even national, protests against police policy and strategy, highlighting a gap between what police leaders feel they have archived in terms of public satisfaction, support, and legitimacy and the perception of bias among many marginalized communities. The decision on which one policing strategy is chosen over another, how many resources are allocated, and how strenuously the policy is applied resides primarily with the police and the units and subunits tasked with its enforcement. The scope and opportunity for police officers in impacting social attitudes and social policy are important elements that cannot be overstated. How do police leaders, for instance, decide when to apply one strategy—say community-based policing—over another, like intelligence-led policing? How do police leaders measure performance and success? Should these measures be based on quantitative preferences over qualitative, or should the preference be based on some other criteria? And how do police leaders define, allow, and control discretionary decision-making? Mending Broken Fences Policing provides police and security services leaders with a model based on social cohesion, that incorporates intelligence-led and community policing (IP-CP), supplemented by a quality/quantity/crime (QQC) framework to provide a four-step process for the articulable application of police intervention, performance measurement, and application of discretion.

Keywords: social cohesion, quantitative performance measurement, qualitative performance measurement, sustainable leadership

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Authors: Pascal Rey, Anaïs Weber

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Many mining projects are being developed in Africa the last decades. Due to the economic opportunities they offer, these projects result in a massive and rapid influx of migrants to the surrounding area. In areas where central government representation is low and local administration lack financial resources, urban development is often anarchical, beyond all public control. It leads to socio-spatial segregation, insecurity and the risk of social conflicts rising. Aware that their economic development is very correlated with local situation, mining companies get more and more involved in regional planning in setting up tools and Strategic Directions document. One of the commonly used tools in this regard is the “Influx Management Plan”. It consists in looking at the region’s absorption capacities in order to ensure its coherent development and by developing several urban centers than one macrocephalic city. It includes many other measures such as urban governance support, skills transfer, creation of strategic guidelines, financial support (local taxes, mining taxes, development funds etc.) local development projects. Through various examples of mining projects in Guinea, A country that is host to many large mining projects, we will look at the implications of regional and urban planning of which mining companies are key playor as well as public authorities. While their investment capacity offers advantages and accelerates development, their actions raise questions of the unilaterality of interests and local governance. By interfering in public affairs are mining companies not increasing the risk of central and local government shirking their responsibilities in terms of regional development, or even calling their legitimacy into question? Is such public-private collaboration really sustainable for the region as a whole and for all stakeholders?

Keywords: Africa, guinea, mine, urban planning

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Authors: Wafeek Mohamed Ibrahim Mohamed

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In the era of globalization and openness informational. Anyone who thinks about innovation in the earth population in Islam in our contemporary reality, he will find that it is not destined to its civilized extension to last. The purpose of the research is a trial to reach a realistic vision for creative, innovative and intellectual thought for the earth population in Islam as an instrument to Confrontation and observe the changes that have affected in the architecture of the land during different eras. Through knowing the controls of the ruling legitimacy(that served as definitions and laws which formulate its features) and using customs, traditions, and conventions as a telescope for the earth population in Islam, It explained the impact of them on features of creative formation for the architecture of the land in our contemporary reality. The study shows a modern vision to identify innovation in the earth population in Islam. As well as reformulating its mental image and monitoring its changes in Islamic heritage cities. This will be done through a two main branches: firstly, set forth a theory represented in studying creative concepts which formulate the population of the earth in Islam. Such as initiative and responsibility for reviving the dead land, the lane [alley] as formation unit and social solidarity,… Etc.. The second branch is preparing a practical, critical vision for innovative conceptual thought for the architecture of the land of Islam, through studying the development of a traditional Islamic city., The conceptual thought of making the birth festival ["Al-Refaee"] and its emulation for governing roles in the traditional city building. The research concludes The necessity of forming the suggested a creative vision for identifying how to re-form the conceptual for our contemporary population of the earth. It poses an important question which is how to return to creativity in the architecture of the land of Islam in our built environments.

Keywords: innovation and creation, architecture, the land in Islam, criticism of design

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Authors: Md. Abdul Kader

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Several reports released by Global Financial Integrity (GFI) in recent times have identified Bangladesh as being among the worst affected countries to the scourge of money laundering (ML) and terrorist financing (TF). The money laundering (ML) and terrorist financing (TF) risks associated with conventional finance are generally well identified and understood by the relevant national authorities. There is, however, no common understanding of ML/TF risks associated with Islamic Banking. This paper attempts to examine the issues of money laundering (ML) and terrorist financing (TF) in Islamic Banks of Bangladesh. This study also investigates the risk factors associated with Islamic Banking system of Bangladesh that are favorable for ML and TF and which prevent the government to control such issues in the Islamic Banks of Bangladesh. Qualitative research methods were employed by studying various reports from journals, newspapers, bank reports and periodicals. In addition, five ex-bankers who were in the policy making bodies of three Islamic Banks were also interviewed. Findings suggest that government policies regarding Islamic Banking system in Bangladesh are not well defined and clear. Shariah law, that is the guiding principle of Islamic Banking, is not well recognized by the government policy makers, and thus they left the responsibility to the governing bodies of the banks. Other challenges that were found in the study are: the complexity of some Islamic banking products, the different forms of relationship between the banks and their clients, the inadequate ability and skill in the supervision of Islamic finance, particularly in jurisdictions, to evaluate their activities. All these risk factors paved the ground for ML and TF in the Islamic Banks of Bangladesh. However, due to unconventional nature of Banking and lack of investigative reporting on Islamic Banking, this study could not cover the whole picture of the ML/TF of Islamic Banks of Bangladesh. However, both qualitative documents and interviewees confirmed that Islamic Banking in Bangladesh could be branded as risky when it comes to money laundering and terror financing. This study recommends that the central bank authorities who supervise Islamic finance and the government policy makers should obtain a greater understanding of the specific ML/TF risks that may arise in Islamic Banks and develop a proper response. The study findings are expected to considerably impact Islamic banking management and policymakers to develop strong and appropriate policy to enhance transparency, accountability, and efficiency in banking sector. The regulatory bodies can consider the findings to disseminate anti money laundering and terror financing related rules and regulations.

Keywords: money laundering, terror financing, islamic banking, bangladesh

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Authors: Richard Wolfel, Amy Richmond

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Urban resilience and vulnerability are critical concepts in the modern city due to the increased sociocultural, political, economic, demographic, and environmental stressors that influence current urban dynamics. Urban scholars need help explaining urban resilience and vulnerability. First, cities are dominated by people, which is challenging to model, both from an explanatory and a predictive perspective. Second, urban regions are highly recursive in nature, meaning they not only influence human action, but the structures of cities are constantly changing due to human actions. As a result, explanatory frameworks must continuously evolve as humans influence and are influenced by the urban environment in which they operate. Finally, modern cities have populations, sociocultural characteristics, economic flows, and environmental impacts on order of magnitude well beyond the cities of the past. As a result, the frameworks that seek to explain the various functions of a city that influence urban resilience and vulnerability must address the complex adaptive nature of cities and the interaction of many distinct factors that influence resilience and vulnerability in the city. This project develops a taxonomy and framework for organizing and explaining urban vulnerability. The framework is built on a well-established political development model that includes six critical classes of urban dynamics: political presence, political legitimacy, political participation, identity, production, and allocation. In addition, the framework explores how environmental security and technology influence and are influenced by the six elements of political development. The framework aims to identify key tipping points in society that act as influential agents of urban vulnerability in a region. This will help analysts and scholars predict and explain the influence of both physical and human geographical stressors in a dense urban area.

Keywords: urban resilience, vulnerability, sociocultural stressors, political stressors

Procedia PDF Downloads 85