Journal of Islamic Accounting and Business Research最新文献

{"title":"Bridging the gap between the tradition of the Prophet in zakat payment and the current practice, through modern measurement","authors":"Dg Nooremah Ag Said, Rose Irnawaty Ibrahim, Azman Ab Rahman, Hafidzi Hamdan","doi":"10.1108/jiabr-10-2023-0328","DOIUrl":"https://doi.org/10.1108/jiabr-10-2023-0328","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to view the tradition of the Prophet in zakat payment, especially the attributed measurements, and adapt these measures to current zakat measurement practices.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study is designed with an exploratory sequential mixed method where qualitative data were collected from historical archives and also from the measurement of available <em>ṣāʿ</em> صاع and <em>mud_</em> مد. These standard measures were collected from Malaysia and other Muslim countries and calibrated at the National Measurement Standards Laboratory (currently carried out by the National Metrology Institute of Malaysia). The volume of the <em>ṣāʿ</em> were tabulated, charted, analyzed and determined.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Prophet Muḥammad <img alt=\"\" data-src=\"/insight/proxy/img?link=/resource/id/urn:emeraldgroup.com:asset:id:article:10_1108_JIABR-10-2023-0328/\" src=\"/insight/static/img/emerald-loading-wide-xl.gif\"/> ordered for zakat <em>al-fiṭr</em> زكاة الفطر to measure the crops using ṣāʿ (gallon: volume measure), not <em>raṭl</em> رطل (pound: standard weight). This paper recommends a reference volume for the <em>ṣāʿ</em>, and from this value, the volume for the smaller measure mud and much larger measure <em>wasq</em> وسق were calculated. The agricultural <em>niṣāb</em> <img alt=\"\" data-src=\"/insight/proxy/img?link=/resource/id/urn:emeraldgroup.com:asset:id:article:10_1108_JIABR-10-2023-0328/\" src=\"/insight/static/img/emerald-loading-wide-xl.gif\"/> (5 wasq) is one of the key parameters in <em>ṣāʿ</em> volume analysis.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>This study covers standard measures acquired from Malaysia, Saudi Arabia and the United Kingdom (traceable to India). Several empirical data are attained from previous studies from Saudi Arabia and North Africa. Also, some theoretical data are obtained from kitab tafsir, hadith and kitab turath (books and records written by early scholars). A concern in this study is the ratio of de-husked grains currently approximated at half of un-hulled grains. This might not necessarily be accurate and may differ by different types of grains.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>After the introduction of the modern measurement system known as the International System of Units (SI) in 1971, <em>ṣāʿ</em> became obsolete, leaving each state in Malaysia to define and convert <em>ṣāʿ</em> to SI units variously. This paper contributes to standardizing the conversion to one value with an appropriate SI unit, that has traceability to the Prophet’s <em>ṣāʿ</em>. This national reference standard <em>ṣāʿ</em> is essential for zakat <em>al-fiṭr</em> measurement, important for zakat centers and impacting every Muslim in Malaysia. Often overlooked, <em>ṣāʿ</em> is more crucial as a basis in determining and standardizing the seasonal crops <em>niṣāb</em>, unfoldin","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate governance and firm performance: in Qatari non-financial firms","authors":"Basel Al-Shaer, Hassan H.H. Aldboush, Ahmad Hisham H. Alnajjar","doi":"10.1108/jiabr-04-2024-0143","DOIUrl":"https://doi.org/10.1108/jiabr-04-2024-0143","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>These insights provide valuable guidance for policymakers, investors and corporate leaders, emphasizing the importance of tailored governance practices in Qatar's unique business landscape.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142223969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Factors influencing SME project returns on Islamic Fintech lending platform","authors":"Egi Arvian Firmansyah, Masairol Masri, Muhammad Anshari, Mohd Hairul Azrin Besar","doi":"10.1108/jiabr-10-2023-0340","DOIUrl":"https://doi.org/10.1108/jiabr-10-2023-0340","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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 (<em>n</em> = 122) on the platform.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Exploring the feasibility of Muzara’ah based Islamic running finance model as an alternative for agriculture credit","authors":"Hafiz Samiullah Daud, Saqib Sharif","doi":"10.1108/jiabr-12-2022-0352","DOIUrl":"https://doi.org/10.1108/jiabr-12-2022-0352","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The main limitation of the study is that only 10 in-depth interviews are conducted.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184341","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Unveiling the terrain of non-bank Islamic personal financing: current practices, challenges, and future prospects","authors":"Ibtisam @ Ilyana Ilias, Mastika Nasrun, Nurul Aini Muhamed","doi":"10.1108/jiabr-07-2023-0221","DOIUrl":"https://doi.org/10.1108/jiabr-07-2023-0221","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>The research highlights the weaknesses of self-regulation in guaranteeing Shariah compliance and the need for regulatory intervention.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This is a pioneering empirical study that investigated the offering of Islamic personal financing among NBFIs in Malaysia, the challenges and the way forward.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142184118","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Navigating through pandemics: a bibliometric analysis of research trends in Islamic finance and Islamic banking","authors":"Azhar Mohamad","doi":"10.1108/jiabr-11-2023-0373","DOIUrl":"https://doi.org/10.1108/jiabr-11-2023-0373","url":null,"abstract":"\u0000Purpose\u0000This study aims to provide a bibliometric analysis of 1,104 journal articles to explore the multifaceted research field of Islamic finance and banking, explicitly emphasising the impact of the COVID-19 pandemic.\u0000\u0000\u0000Design/methodology/approach\u0000Insights into the evolving trends and dynamics within the academic discourse are presented.\u0000\u0000\u0000Findings\u0000The research highlights different patterns and collaborative networks through co-authorship, co-occurrence and thematic map analyses. Prior to the pandemic, research focused primarily on customer satisfaction and compliance with Shariah principles. However, the pandemic heralded an increased discourse on sustainability, fintech and the financial crisis.\u0000\u0000\u0000Research limitations/implications\u0000This review describes the prevailing academic terrain and identifies potential avenues for future research, particularly those that examine the socio-economic impact of the pandemic within the context of Islamic finance and banking.\u0000\u0000\u0000Originality/value\u0000Prominent author such as M. Kabir Hassan, leading institution such as the International Islamic University Malaysia and esteemed journal such as the International Journal of Islamic and Middle Eastern Finance and Management have been instrumental in shaping academic discussions and creating synergies in research. Moreover, Malaysia’s strong commitment to spatial research, evidenced by its robust global collaborations, underscores its pioneering role in the academic world of Islamic finance and banking.\u0000","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.5,"publicationDate":"2024-08-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141928391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Corporate governance impact on risk disclosure in Shariah-compliant financial firms of Kuwait","authors":"Abdullah E. Alajmi, Bader A. Al-Shammari","doi":"10.1108/jiabr-02-2024-0070","DOIUrl":"https://doi.org/10.1108/jiabr-02-2024-0070","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to investigate the relationship between corporate governance characteristics and risk disclosure in <em>Shariah</em>-compliant financial firms operating in Kuwait. It aims to provide insights into the factors influencing risk disclosure practices within these institutions.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The research used manual content analysis to quantify risk disclosure levels in the annual reports of 47 <em>Shariah</em>-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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study reveals that while Kuwaiti <em>Shariah</em>-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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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 <em>Shariah</em>-compliant financial institutions.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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 <em>Shariah</em>-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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141934298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Innovative, smart, green and halal: a recipe for marketing Muslim destination","authors":"Dwi Suhartanto, Fatya Alty Amalia, Aceng Gima Sugiama, Septi Fahmi Choirisa, Muhamad Nova","doi":"10.1108/jiabr-02-2024-0056","DOIUrl":"https://doi.org/10.1108/jiabr-02-2024-0056","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study explores tourist loyalty as a key for marketing Muslim destinations by integrating experience quality, innovation, smart technology and environmental concerns as determinants.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141885799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Islamic bonds (sukuk) a safe haven for investors? Truth or myth?","authors":"Hussain Mohi-Ud-Din Qadri, Atta Ul Mustafa, Hassnian Ali, Atta Ul Mustafa Tahir","doi":"10.1108/jiabr-11-2022-0299","DOIUrl":"https://doi.org/10.1108/jiabr-11-2022-0299","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to find whether sukuk (Islamic bonds) possess a safe haven property for investors or not.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141885802","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does the efficiency model increase Sharia and non-Sharia firm performance? A multigroup analysis","authors":"Izra Berakon, Amin Wibowo, Nurul Indarti, Nor Nabilla Muhammad, Rizaldi Yusfiarto","doi":"10.1108/jiabr-09-2022-0252","DOIUrl":"https://doi.org/10.1108/jiabr-09-2022-0252","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>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.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>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.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":null,"pages":null},"PeriodicalIF":2.2,"publicationDate":"2024-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141885800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}