Journal of Islamic Accounting and Business Research最新文献

{"title":"Linking perceived supervisor listening with OCBIP in Islamic financial institution: multiple mediation approach","authors":"Muhammad Zakiy, Khairiza Ramadhani","doi":"10.1108/jiabr-09-2023-0291","DOIUrl":"https://doi.org/10.1108/jiabr-09-2023-0291","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to determine the role of perceived supervisor listening (PSL) on employee organizational citizenship behavior Islamic perspective (OCBIP) with several mediating variables as a link.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The research was conducted using a purposive sampling technique with a total sample of 100 employees in Islamic financial institutions (IFIs). The collected data were analyzed using SEM-PLS.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results of this study indicate that PSL is one of the factors that can improve OCBIP attitudes among employees of IFIs. In addition, this study also shows the role of job motivation and satisfaction in mediating the relationship between PSL and OCBIP. However, the results do not indicate affective commitment.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Based on the results of this study, the leadership of IFIs must be able to develop superior attitudes in OCBIP to increase employee motivation and satisfaction and help increase company productivity.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study confirms the importance of the role of leaders in shaping positive employee behavior and strengthens the literature related to OCBIP variables that can be used for Islamic-based organizations.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"57 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140833673","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":"External Shariah auditing in Islamic banks: what do internal auditors think?","authors":"Nurfarahin Mohd Haridan, Ahmad Fahmi Sheikh Hassan, Sabarina Mohammed Shah","doi":"10.1108/jiabr-08-2023-0275","DOIUrl":"https://doi.org/10.1108/jiabr-08-2023-0275","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to investigate the pragmatic issues on the radical call for the establishment of an external Shariah auditor (ESA) in the governance framework of Islamic banks (IBs).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>From 11 well-established Malaysian IBs, 16 internal auditors were interviewed to provide an in-depth understanding on how ESA can provide greater assurance to stakeholders in Malaysian IBs.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>This study reported mixed acceptance from internal auditors on the proposed additional governance layer to be undertaken by the ESA. Generally, internal auditors reluctantly agreed that Shariah auditing by the ESA would enhance the quality of Shariah assurance but maintain several practical concerns regarding lack of guidelines on Shariah auditing, the additional cost to be borne by IBs and the possible tensions between the ESA and Shariah board (SB) amid the diverse Shariah interpretations available for experts in the field.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The critical point on the manifestation of an ESA in the contemporary IB practice brought by this study highlights the need for regulation and policy promulgation that embrace a comprehensive approach to Shariah audit process within the religio-ethical dogma of Islamic banking and the pragmatic approach to banking.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study provides evidence on the expected role and competency of an ESA and explores the implications produced by its implementation in Malaysian IBs. This study also clarifies how IBs should delineate the role of Shariah assurance from SB to ESA.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"16 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140812866","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":"Gold-based housing financing model: proposing an alternative housing financing model for Islamic bank","authors":"Madha Adi Ivantri, Muhammad Hakim Azizi, Ana Toni Roby Candra Yudha, Yudi Saputra","doi":"10.1108/jiabr-12-2023-0414","DOIUrl":"https://doi.org/10.1108/jiabr-12-2023-0414","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to propose a new housing finance mechanism through gold price as an alternative to interest rate in Islamic home financing, especially on Bai’Bithaman Ajil (BBA) contract.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study using simulation approach to calculate the monthly installments for home financing using gold price references. In simple terms, propose a financing formula in the BBA contract by converting the selling price of the house to the gold price, and then the monthly installments also follow the actual gold price. The authors provide an example by simulating this formula using historical data and cases of housing financing at Indonesian Islamic banks. The authors compare housing financing models based on gold prices and interest rates. Finally, The authors can compare the two housing financing models that are affordable for low-income people.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results show that in the initial period, monthly installments of BBA based on gold price were lower than home financing based on interest rate. This result makes it possible for low-income people who cannot access financing based on interest rates to access financing based on gold price. However, the total installments of financing based on gold prices are higher than the financing model based on interest rates.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The paper confines one contract, namely, BBA, as it is claimed to be more Shariah-compliant than others.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>These findings suggest an alternative model for Islamic banks and regulatory authorities in Indonesia to replace the interest rate reference with the gold price in BBA contract housing financing. This model can offer competitive advantages for Islamic banks, including lower initial installments and inflation-protected profits, serving as a means of differentiating them from conventional banks.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>Gold price-based housing financing model in Islamic banks will increase the affordability of housing financing for low-income people.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This paper tries to solve two problems, namely, first, the problem of assuming that Islamic and conventional banks are the same, and second, the problem of housing finance affordability. This study needs to be explored.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"23 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140833943","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":"Tracing knowledge diffusion flows in Islamic finance research: a main path analysis","authors":"Abderahman Rejeb, Karim Rejeb, Suhaiza Zailani","doi":"10.1108/jiabr-10-2023-0344","DOIUrl":"https://doi.org/10.1108/jiabr-10-2023-0344","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to address the noted gap in comprehensive overviews detailing the developmental trajectory of Islamic finance (IF) as an interdisciplinary academic field.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The study introduces a unique approach using the combined methodologies of co-word analysis and main path analysis (MPA) by examining a broad collection of IF research articles.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The investigation identifies dominant themes and foundational works that have influenced the IF discipline. The data reveals prominent areas such as <em>Shariah</em> governance, financial resilience, ethical dimensions and customer-centric frameworks. The MPA offers detailed insights, narrating a journey from the foundational principles of IF to its current challenges and opportunities. This journey covers harmonizing religious beliefs with contemporary financial models, changes in regulatory landscapes and the continuous effort to align with broader socioeconomic aspirations. Emerging areas of interest include using new technologies in IF, standardizing global Islamic banking and assessing its socioeconomic effects on broader populations.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study represents a pioneering effort to map out and deepen the understanding of the IF field, highlighting its dynamic evolution and suggesting potential avenues for future academic exploration.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"78 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140833951","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":"The impact of waqf-based microfinance program on clients’ well-being during COVID-19 pandemic: empirical evidence from Indonesia","authors":"Aimatul Yumna, Joan Marta, Ramel Yanuarta Re","doi":"10.1108/jiabr-02-2022-0040","DOIUrl":"https://doi.org/10.1108/jiabr-02-2022-0040","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study was to evaluate the impact of a waqf-based microfinance program on clients’ well-being during the COVID-19 pandemic.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study obtained primary data from a survey distributed to 282 respondents, consisting of 150 clients and 132 nonclients of the Bank Wakaf Mikro (BWM) Al Kausar in Indonesia. This study constructed a well-being index (WBI) and compared clients’ and nonclients’ WBI before and during the pandemic using the difference-in-differences (DID) method. DID measures the effect of a treatment in a “treatment group” versus a “control group” using data from two periods.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>This study found that clients and nonclients alike experienced an increase in well-being throughout the pandemic, but the increase was greater for clients than for nonclients. This study argues that the waqf-based microfinance program run by Bank Waqf Mikro model can assist their clients – as more vulnerable groups in society – to maintain their well-being during the pandemic.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>To ensure the effectiveness of waqf-based microfinance programs in diverse settings, this study should include more respondents from different institutions.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This research has several practical recommendations, particularly for integrating Islamic charity for microfinance. The findings of this study suggest that the BWM model, which combines three institutions – the government, zakat groups and Islamic boarding schools (pesantrens) – can play a substantial role in enhancing the welfare of its members during the pandemic.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study contributes to the body of knowledge on Islamic microfinance by providing empirical evidence of the importance of waqf-based microfinance in reducing the pandemic’s impact on clients well-being.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"48 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140833719","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":"Calendar anomalies and asymmetric volatility of returns in the Indonesian stock market: conventional vs Islamic indices","authors":"Faouzi Ghallabi, Khemaies Bougatef, Othman Mnari","doi":"10.1108/jiabr-08-2023-0282","DOIUrl":"https://doi.org/10.1108/jiabr-08-2023-0282","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to identify calendar anomalies that can affect stock returns and asymmetric volatility. Thus, the objective of this study is twofold: on the one hand, it examines the impact of calendar anomalies on the returns of both conventional and Islamic indices in Indonesia, and on the other hand, it analyzes the impact of these anomalies on return volatility and whether this impact differs between the two indices.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors apply the GJR-generalized autoregressive conditional heteroskedasticity model to daily data of the Jakarta Composite Index (JCI) and the Jakarta Islamic Index for the period ranging from October 6, 2000 to March 4, 2022.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The authors provide evidence that the turn-of-the-month (TOM) effect is present in both conventional and Islamic indices, whereas the January effect is present only for the conventional index and the Monday effect is present only for the Islamic index. The month of Ramadan exhibits a positive effect for the Islamic index and a negative effect for the conventional index. Conversely, the crisis effect seems to be the same for the two indices. Overall, the results suggest that the impact of market anomalies on returns and volatility differs significantly between conventional and Islamic indices.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study provides useful information for understanding the characteristics of the Indonesian stock market and can help investors to make their choice between Islamic and conventional equities. Given the presence of some calendar anomalies in the Indonesia stock market, investors could obtain abnormal returns by optimizing an investment strategy based on seasonal return patterns. Regarding the day-of-the-week effect, it is found that Friday’s mean returns are the highest among the weekdays for both indices which implies that investors in the Indonesian stock market should trade more on Fridays. Similarly, the TOM effect is significantly positive for both indices, suggesting that for investors are called to concentrate their transactions from the last day of the month to the fourth day of the following month. The January effect is positive and statistically significant only for the conventional index (JCI) which implies that it is more beneficial for investors to invest only in conventional assets. In contrast, it seems that it is more advantageous for investors to invest only in Islamic assets during Ramadan. In addition, the findings reveal that the two indices exhibit lower returns and higher volatility, which implies that it is recommended for investors to find other assets that can serve as a safe refuge during turbulent periods. Overall, the existence of these calendar anomalies implies that policymakers are called to implement the required measures to increase market efficiency.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"5 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140809763","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":"An exploratory insight into religion based communication in Islamic financial institutions","authors":"Hajira Liaqat, Ishfaq Ahmed, Sheikh Usman Yousaf","doi":"10.1108/jiabr-08-2023-0257","DOIUrl":"https://doi.org/10.1108/jiabr-08-2023-0257","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to explore the phenomenon of Islamic religious communication and how Islamic banks in Pakistan use religion-based communication, along with its expected outcomes.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Transcendental phenomenology approach is opted using a multi-stage data collection strategy consisting of observations, documentary reviews and semi-structural interviews to get deep into the phenomenon in a particular context.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Findings highlight Islamic religious communication as workplace Islamic <em>da’wah</em> that is majorly categorized into compulsive <em>da’wah</em>, objectics <em>da’wah</em> and impulsive <em>da’wah</em>, serving its role in bringing spirituality to work through work-faith integration.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The finding of the study can be used in planning, formulating and implementing Islamic <em>da’wah</em>-based model to induce spirituality at work.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study is the first of its type exploring Islamic <em>da’wah</em> in an organizational context as a mean to bring spirituality at work.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"53 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140630482","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":"The role of Sharia governance in minimizing credit risk in Islamic banking: a systematic literature review","authors":"Annisa Adha Minaryanti, Tettet Fitrijanti, Citra Sukmadilaga, Muhammad Iman Sastra Mihajat","doi":"10.1108/jiabr-11-2022-0301","DOIUrl":"https://doi.org/10.1108/jiabr-11-2022-0301","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this paper is to engage in a systematic examination of previous scholarship on the relationship between Sharia governance (SG), which is represented by the Sharia Supervisory Board (SSB), and the Internal Sharia Review (ISR), to determine whether the ISR can minimize financing risk in Islamic banking.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The literature search consisted of two steps: a randomized and systematic literature review. The methodology adopted in this article is a systematic literature review.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>To reduce the risk of financing in Islamic banking, SG must be implemented optimally by making rules regarding the role of the SSB in supervising customer financing. In addition, it is a necessary to establish an entity that assists the SSB in the implementation of SG, namely, the ISR section, but there is still very little research on the role of the SSB and ISR in minimizing financing risk.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Establishing an ISR to assist the SSB in carrying out its duties has direct practical implications for Islamic banking: minimizing financing risks and compliance with Islamic Sharia principles. In addition, new rules regarding the role of SSBs and the ISR in reducing credit risk include monitoring customers to ensure that they fulfill their financing commitments on time. This new form of regulation and review can be used as a reference by the Otoritas Jasa Keuangan or Finance Service Authority to create new policies or regulations regarding SG, especially in Indonesia.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Subsequent research may introduce other more relevant variables, such as empirically testing the competence, independence or integrity of SSB and the ISR team as it attempts to minimize the risk of financing in Islamic banks. In addition, further research is expected to examine whether the SSB or the ISR team has a positive or negative influence on the risk of financing Islamic banks with secondary data.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"109 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140573370","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":"Indonesia Shariah Stock Index (ISSI) firms and environmental, social, and governance (ESG) disclosure in Indonesia","authors":"Vidia Gati, Iman Harymawan, Mohammad Nasih","doi":"10.1108/jiabr-12-2022-0354","DOIUrl":"https://doi.org/10.1108/jiabr-12-2022-0354","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine the relationship of Indonesia’s Sharia Stock Index (ISSI) firms on environmental, social and governance (ESG) disclosure. This study is interesting because ISSI firms are supposed to comply with Islamic values as this has been reflected in good corporate governance activities, demonstrating responsibility to others and participating in preserving nature/environmental activities.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors use sample firms that are listed on the Indonesia Shariah-compliant Stock Index (ISSI) from 2011 to 2020, which also published sustainability reports.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study found that sharia firms are positively related to ESG disclosure. The authors also found that ESG disclosure of sharia firms is more pronounced in the reporting section of general, economic, environmental and social. Other findings suggest differences in the segments reported in the COVID and pre-COVID periods. This result is also robust by conducting a self-selection bias test with Heckman’s two-stage regression and Coarsened Exact Matching regression.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>For policymakers, these results indicate that different characteristics of firms can affect ESG disclosure, and economic conditions will determine which sectors are disclosed the most.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study provides empirical evidence that Indonesian Shariah-compliant stock index firms carried out their mission to disclose more information about their environmental and social responsibilities and governance issues.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"102 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140573252","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":"Was the interest burden of the Ottoman public debt sustainable? A cliometric analysis","authors":"M. Kabir Hassan, Hasan Kazak, Melike Buse Akcan, Hasan Azazi","doi":"10.1108/jiabr-01-2024-0009","DOIUrl":"https://doi.org/10.1108/jiabr-01-2024-0009","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to determine whether the Ottoman Empire’s net interest payments and foreign debt were sustainable or not in terms of their burden on budget revenues, using the method of historical econometric analysis.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>In this study, the period between 1847 and 1882 of the Ottoman Empire is analyzed for sustainability analysis. Within the framework of the study, unit root tests and econometric analysis methods frequently used in the literature were used to analyze the sustainability of public debt. In the econometric analysis, in addition to various unit root tests, current econometric analysis methods, in particular Fourier expansion, were also used.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results of econometric analyses showed that the burden of interest payments and foreign debt on the budget of the Ottoman state was unsustainable. This situation clearly shows the reason for the official bankruptcy of the Ottoman Empire, which was declared in 1875.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Although this study reveals the bankruptcy process of an important structure such as the Ottoman Empire in the historical process through econometric analyses, it also gives a very important message to today’s states. Accordingly, today’s state policies and decision-making mechanisms should take these results into account and strive to make the burden of public interest payments sustainable. It is believed that the study will shed light on the public finance policies of today’s states by drawing lessons from the collapse process of the Ottoman state.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Unlike the historical assessments in the literature on the decline of the Ottoman Empire, this study presents a cliometric approach by applying current econometric analysis techniques to past historical data. The study explains the unsustainability of the Ottoman Empire’s interest payments and external debt burden in the period under consideration in a way that, to the best of the authors’ knowledge, has not been done before.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"35 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140573119","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}