Journal of Islamic Accounting and Business Research最新文献

{"title":"Fast, fresh, healthy and halal: a mobile food app recipe for Muslim millennial loyalty","authors":"Dwi Suhartanto, David Dean, Hanudin Amin, Aceng Gima Sugiama, Fatya Alty Amalia","doi":"10.1108/jiabr-08-2022-0210","DOIUrl":"https://doi.org/10.1108/jiabr-08-2022-0210","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to apprise mobile loyalty to halal food purchasing, including food quality, mobile quality, perceived value and satisfaction as its causes, and analyze the halal trust and health risk moderating role on the connections between mobile loyalty and its determinants.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>A total of 307 responses from millennial Muslims were collected from the Bandung region of Indonesia via an online survey. Partial least squares modeling was applied to review the proposed mobile loyalty model.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>This research found that the mobile loyalty model integrating halal food quality, mobile service quality, perceived value and satisfaction has satisfactory goodness of fit. The research confirms the function of mobile service quality but not halal food quality as drivers of mobile loyalty. Next, this study suggests that halal trust and health risks do not moderate the association between mobile loyalty and its determinants.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>This study recommends that managers devote resources to upgrading the quality of their mobile apps to build loyalty. Offering high-quality halal food is also an important driver of millennial Muslim satisfaction.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this research is the first to investigate mobile loyalty in halal food.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"33 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139411385","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":"Intention to buy halal food through the ShopeeFood application on Generation Z Muslims","authors":"Juliana Juliana, Annisa Sabilla Limayurid, Fitranty Adirestuty, Ahmad Ajib Ridlwan, Sylva Alif Rusmita, Shafinar Ismail","doi":"10.1108/jiabr-04-2023-0120","DOIUrl":"https://doi.org/10.1108/jiabr-04-2023-0120","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to show the factors that influence the intention of Generation Z Muslims to buy halal food products through ShopeeFood.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This study used quantitative methods. The analytical technique used is partial least square-structural equation modeling with 230 respondents as a sample of Generation Z Muslims in West Java, Indonesia. This research was conducted in June 2022 by distributing questionnaires via Google Forms and social media.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results showed that perceived ease of use, perceived usefulness, attitudes, subjective norms, perceived behavioral control, religiosity and intention to buy halal food through ShopeeFood in Generation Z Muslims in West Java were in the high category. However, subjective norms and perceived behavioral control are the only ones that positively and significantly affect purchase intention.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>ShopeeFood is expected to be able to identify and take advantage of the high level of intention of Generation Z Muslims to buy halal food through ShopeeFood. ShopeeFood can socialize and increase consumer attention that ShopeeFood is different from other online food delivery services. ShopeeFood can require merchants to display transparency in the composition of food products.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this study is perhaps the first study in the context of Generation Z Muslims in West Java, Indonesia, that deals with the perceived ease of use, perceived usefulness, attitudes, subjective norms, perceived behavioral control and religiosity on the intention to buy halal food through ShopeeFood. The study’s findings are essential in Islamic marketing and technological acceptance (ShopeeFood Apps).</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"54 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139397811","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":"Long-run asymmetric effects of financial risks on Sukuk market development: empirical evidence from Malaysia","authors":"Siti Nurhidayah Mohd Roslen, Mei-Shan Chua, Rafiatul Adlin Hj Mohd Ruslan","doi":"10.1108/jiabr-08-2022-0200","DOIUrl":"https://doi.org/10.1108/jiabr-08-2022-0200","url":null,"abstract":"&lt;h3&gt;Purpose&lt;/h3&gt;\u0000&lt;p&gt;The purpose of this study is to empirically investigate the asymmetric effects of financial risk on Sukuk market development for a sample of Malaysian countries over the period of 2010–2021.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Design/methodology/approach&lt;/h3&gt;\u0000&lt;p&gt;This study refers to the International Country Risk Guide (ICRG) in determining the financial risk factors to be studied in addition to the Malaysia financial stress index (FSI) to capture changes in financial risk level. The authors use the nonlinear autoregressive distributed lag (NARDL) model to tackle the nonlinear relationships between identified financial risk variables and Sukuk market development.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Findings&lt;/h3&gt;\u0000&lt;p&gt;The results suggest the existence of a long-run relationship between foreign debt service stability, international liquidity stability (ILS), exchange rate stability (ERS) and financial stress level with the Sukuk market development in Malaysia. Indeed, higher ILS and ERS will boost Sukuk market size, whereas higher foreign debt services and financial stress are negatively related to Sukuk market development. Findings also indicate that the long-run positive and negative impacts of identified financial risk components on Sukuk market development are statistically different. Taking into account the role of the Sukuk market in facilitating Malaysia’s economic growth, the country should aim to keep the foreign debt-to-GDP ratio at a sustainable level.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Research limitations/implications&lt;/h3&gt;\u0000&lt;p&gt;This study points to three possible directions for future research. The first is the differential impact of financial risk components on Sukuk issuance for different Sukuk structures. As more data becomes available in the future, this area could be further explored by conducting the above analysis for different combinations of Sukuk structures and currency denominations. In addition, future researchers could also consider exploring the variability of financial risk impacts through comparative studies of the leading Sukuk-issuing countries to account for differences in regulatory frameworks and supporting infrastructure.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Practical implications&lt;/h3&gt;\u0000&lt;p&gt;This study provides valuable practical and policy implications for strengthening the growth of the Sukuk market. While benefiting from the diversification benefits of funding sources to finance private or government projects and developments, Malaysia should remain vigilant to global economic conditions, foreign exchange markets and financial stress levels, as all of these factors may significantly influence investor sentiment and the rate of return offered by Sukuk issuance.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Originality/value&lt;/h3&gt;\u0000&lt;p&gt;The use of the NARDL approach, which investigates the long-run effects of financial risk factors on Sukuk market development in Malaysia, makes this study a valuable addition to the literature, a","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"119 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139374153","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":"Board characteristics and takaful performance: the moderating role of ownership concentration","authors":"Nourhen Sallemi, Ghazi Zouari","doi":"10.1108/jiabr-12-2021-0327","DOIUrl":"https://doi.org/10.1108/jiabr-12-2021-0327","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to examine the impact of board characteristics (board size, board independence and duality) on the performance of takaful insurance providers with distinguishable muamalah contracts (wakalah and hybrid) moderated by ownership concentration.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The sample consists of 30 takaful insurances. The authors divided it into two subsamples: 18 insurance companies using wakalah contracts provided by Southeast Asia and 12 insurance companies using hybrid contracts provided by the Gulf Cooperation Council over the period 2010–2020. For data analysis, the authors used the partial least squares path modeling method.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results show that the larger the board of directors and the higher the number of independent directors, the greater the takaful performance in both the wakalah and hybrid subsamples. Nondual functions improve the takaful performance in both the wakalah and hybrid subsamples. The results also reveal that a highly concentrated ownership structure positively (negatively) moderates the relationship between board size and takaful performance in the wakalah (hybrid) subsamples. Moreover, highly concentrated ownership insignificantly (negatively) moderates the relationship between independent directors and takaful’s performance in the hybrid (wakalah) subsample. Furthermore, a highly concentrated ownership structure insignificantly (negatively) moderates the relationship between the nondual structure and takaful performance in the wakalah (hybrid) subsample.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study contributes to the understanding of the moderating role of a highly concentrated ownership structure between the characteristics of the board of directors and the performance of takaful insurance, which applies wakalah and hybrid contracts. In addition, this study contributes to takaful insurance by determining the appropriate board characteristics that must be adopted to achieve oversight and improve performance. Regulators should appreciate this contribution to the formulation of suitable approaches for efficiently supervising takaful insurance activities.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"7 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139374213","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 intention to invest in Shariah-compliant social impact bonds in Malaysia","authors":"Syed Marwan, Suhaiza Ismail, Engku Rabiah Adawiah Engku Ali, Mohamed Aslam Mohamed Haneef","doi":"10.1108/jiabr-12-2022-0340","DOIUrl":"https://doi.org/10.1108/jiabr-12-2022-0340","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of the paper is twofold. Firstly, this study aims to investigate the factors influencing stakeholders’ intention to invest in Shariah-compliant social impact bonds (SC SIBs) in Malaysia. Secondly, this study compares the differences in the perception of different stakeholders on the importance of the factors.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Using the extended theory of planned behaviour, the study undertakes a questionnaire survey on licensed capital market investors and individuals involved in the development of the financial market (developers). A total of 260 complete and valid responses were obtained from the survey. Multiple regression and Mann–Whitney tests were carried out to achieve the two objectives, respectively.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results reveal that attitude (<em>β</em> = 0.447, <em>p</em> &lt; 0.01), subjective norm (SN) (<em>β</em> = 0.255, <em>p</em> &lt; 0.01) and moral norm (MN) (<em>β</em> = 0.163, <em>p</em> &lt; 0.01) are significantly positive predictors of intention to invest in SC SIBs. In terms of the differences in the perceptions of the two parties, the results show that the factors have more effect towards developers than investors.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The empirical evidence from this study on the factors that influence stakeholders’ participation in SC SIBs is useful to the policymakers and interested parties in taking the next steps to develop, implement and promote SC SIBs to stakeholders in Malaysia. Fund managers can use the study’s insights to promote positive attitudes, SNs and MNs towards SC SIBs, especially targeting developers who are more influenced by these factors. More importantly, the results indicate a need for different strategies to influence the stakeholder investment behaviour of SC SIB in Malaysia to ensure that it is sustainable and viable in the long run.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"11 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139030529","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":"Digital risks and Islamic FinTech: a road map to social justice and financial inclusion","authors":"Mohammad Alsaghir","doi":"10.1108/jiabr-10-2022-0262","DOIUrl":"https://doi.org/10.1108/jiabr-10-2022-0262","url":null,"abstract":"&lt;h3&gt;Purpose&lt;/h3&gt;\u0000&lt;p&gt;This study aims to map the digital risks for the Islamic finance industry. Since 2010, the financial space has largely shifted from being banking-centric to the entrepreneurship spectrum, benefiting from groundbreaking innovations in computer technology. The problem of Islamic Finance is that it is still within its banking-centric moment that is risk averse leading to financial exclusion. As with all innovations, there are associated risks that require careful consideration to ensure the reaping of the benefits of these technologies while controlling the risks at its lowest. In this context, the aim of this study is to highlight the risks associated with financial technologies (FinTech) to prepare the Islamic finance sector to serve the economic ideals of &lt;em&gt;Maqāṣid al-Shariah&lt;/em&gt; in financial inclusion and profit and loss sharing. The main research question is as follows: What do Islamic Finance industry need to do to manage the digital risks for financial inclusion?&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Design/methodology/approach&lt;/h3&gt;\u0000&lt;p&gt;This study uses narrative review method in analysing the discourse of financial technology literature using qualitative data collected from the literature on the topic. It aimed to problematise associated digital risks from the Shariah compliance and &lt;em&gt;Maqā¸ṣid al-Shariah&lt;/em&gt; critical viewpoints. Considering the nature of this conceptual study, it adopts a qualitative methodology by using discourse and thematic analysis of the literature that can lay the foundation for future empirical testing on the topic.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Findings&lt;/h3&gt;\u0000&lt;p&gt;The study found that managing risks faced by the Islamic financial sector while adapting to the digital era can be divided into two main clusters: risk mitigation for Shariah-compliant FinTech and risk avoidance for Shariah non-compliant innovations. The high level of &lt;em&gt;gharar&lt;/em&gt; associated with current practices in both cryptocurrencies and smart contracts needs additional regulation and simulation before they can be reconsidered for market-wide application. Cloud computing, crowdfunding and big data have promising applications that can address the limitations of the Islamic finance industry, particularly in terms of reducing transactional costs.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Research limitations/implications&lt;/h3&gt;\u0000&lt;p&gt;This conceptual article offers some insights into the subject; nevertheless, it does not attempt to establish causation or generalise the results. Additional statistical testing is required prior to generalising the results.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Practical implications&lt;/h3&gt;\u0000&lt;p&gt;Due to the difficulties experienced since its inception, the Islamic financial industry is in urgent need of the cutting-edge solutions required to gain a competitive edge in the market and get over the limits that came with its late entry into the financial sector. Mapping digital risks is imperative for the development of comprehens","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"81 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139055440","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":"Dividend policy and shareholders’ wealth. A comparative analysis of Shariah-compliant and noncompliant nonfinancial firms in Pakistan","authors":"Saeed Akbar, Shehzad Khan, Z. Haq, Muhammad Yusuf Amin","doi":"10.1108/jiabr-01-2023-0007","DOIUrl":"https://doi.org/10.1108/jiabr-01-2023-0007","url":null,"abstract":"\u0000Purpose\u0000The purpose of this study is to comparatively analyze the effect of dividend policy on shareholders’ wealth in Shariah-compliant (SC) and noncompliant (NC) nonfinancial firms in Pakistan.\u0000\u0000\u0000Design/methodology/approach\u0000All the nonfinancial firms listed on the Pakistan stock exchange have been taken as a sample for 2016–2021. The Karachi Meezan index screening criteria were applied to screen SC firms. Based on the BPLM and Hausman test results, the authors used the fixed-effect and pooled OLS model for SC and NC firms, respectively. The F-test was used to compare the effect of each dividend policy variable on shareholders’ wealth for both firm types.\u0000\u0000\u0000Findings\u0000The findings reveal that the dividend policy does affect the shareholders’ wealth in both firm types. Dividend per share (DPS), dividend yield (DY) and earnings per share significantly affect the shareholders’ wealth in SC firms. For NC firms, the dividend payout, DPS and DY are critical. Moreover, the F-test results show that the DPS, DY and leverage effect on the shareholders’ wealth significantly differ for both firm types.\u0000\u0000\u0000Research limitations/implications\u0000This study fills the research gap in the Pakistani context specifically as well as globally by providing important insights into the relationship between a firm’s dividend policy and shareholders’ wealth for SC and NC firms. In addition, this study comprehensively compares the results for both firm types, which is also lacking in the existing literature. Because this study is based in Pakistan, the generalizability of the results would be limited.\u0000\u0000\u0000Practical implications\u0000The findings of this study are helpful for the management of SC and NC firms in devising their dividend policies that can maximize their shareholders’ wealth. This study also provides guidance and knowledge to investors in choosing companies for their investments that can maximize their wealth.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study that analyzes the relationship between dividend policy and shareholders’ wealth for SC firms in Pakistan. It is also the first study that comprehensively compares the dividend policy relationship with shareholders’ wealth for SC and NC firms. In addition, using the F-test for joint hypotheses to compare the specific effect of each dividend policy variable is a methodological contribution of the study.\u0000","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"54 7","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138943576","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":"Impact of accrual and real earnings management on the stock liquidity: the month-of-the-year and Ramadan effects","authors":"Allah Karam Salehi, Elham Soleimanizadeh","doi":"10.1108/jiabr-07-2022-0170","DOIUrl":"https://doi.org/10.1108/jiabr-07-2022-0170","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The abnormality of the month-of-the-year and Ramadan effects has extensively existed in the stock and other markets. The commercial strategy pattern and the computation of such predictable patterns in the market allow investors to make money. By using anomalies such as the month-of-the-year and the Ramadan effects on earnings management (EM), it is possible to achieve such a goal. This study aims to investigate the month-of-the-year effect and the Ramadan effect on the relationship between accrual earnings management and real earnings management (AEM and REM, respectively) and liquidity in the Iranian capital market.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This empirical analysis comprises a panel data set of 80 listed firms (400 observations) on the Tehran Stock Exchange from 2016 to 2020.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings exhibit that when AEM and REM increase, information asymmetry also increases. The simultaneous increase of these variables leads to a decrease in stock liquidity. Furthermore, the results indicate that the month-of-the-year and Ramadan effects intensify the negative relationship between AEM and REM with stock liquidity. Therefore, EM is affected by the investor’s behavior in specific months.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Anomalies caused by the Ramadan effect and the month-of-the-year effect on reducing liquidity in the Iranian stock market were confirmed. Investors can use these anomalies to identify predictable patterns, exchange securities according to those patterns and earn abnormal returns.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this is the first study that empirically examined the simultaneous effect of Gregorian and Islamic calendar anomalies on the relationship between EM and liquidity, and while helping managers and other readers, it can be the basis for future research.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"53 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138716356","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":"Shariah governance framework for Islamic banking in Pakistan: a critical review and comparison with AAOIFI","authors":"Mustanir Hussain Wasim, Muhammad Bilal Zafar","doi":"10.1108/jiabr-03-2023-0101","DOIUrl":"https://doi.org/10.1108/jiabr-03-2023-0101","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The study aims to critically review the Shariah governance framework for Islamic banking prevailing in Pakistan and provide a comparison with Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>It analyzes 16 circulars issued by the State Bank of Pakistan (SBP) since 2002, including three Shariah governance frameworks in 2014, 2015 and 2018. Additionally, the study compares the SBP and AAOIFI Shariah governance standards to evaluate the soundness of the SBP framework against international benchmarks.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Pakistan’s Shariah governance model is centralized, with the SBP’s Shariah board having ultimate authority. The SBP has provided a comprehensive Shariah framework, which includes among others, the criteria for the qualifications and conflict of interests of Shariah members. Both AAOIFI and SBP Shariah governance frameworks have similarities and differences in terms of the tenure of Shariah Supervisory Board (SSB) members, reporting line of SSB, number of SSB meetings, minimum experience of SSB members, primary duties of Shariah board, code of ethics and conduct for SSB and management and requirement of publication of SSB report in the annual report of Islamic banks. The frameworks differ in terms of the delegation of SSB powers, assessment and appraisal of SSB effectiveness and outsourcing of Shariah Compliance Department and Internal Shariah Audit Unit.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The study recommends expanding the qualification criteria for Shariah advisors to include additional degrees and qualifications, upholding stringent criteria for conflict of interests and promoting stakeholder consultation through exposure drafts.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>To the best of the authors’ knowledge, this is the first of its kind which critically review and compare the Shariah governance framework prevailing in Pakistan.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"20 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138689239","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":"Shariah-compliant firms and earnings management: do continuation and ethnicity matter?","authors":"Karren Lee-Hwei Khaw, Hamdan Amer Ali Al-Jaifi, Rozaimah Zainudin","doi":"10.1108/jiabr-09-2022-0245","DOIUrl":"https://doi.org/10.1108/jiabr-09-2022-0245","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to revisit the relationship between Shariah-compliant firms and earnings management. Specifically, the authors examine whether Shariah-certified firms have lower earnings management than non-Shariah-certified firms and how often a firm must hold its certification to observe considerably reduced earnings management. This study also explores how senior management ethnic dualism affects the association of Shariah certification and earnings management.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors analyze the hypothesized association between Shariah certification and earnings management using a panel regression model and several robustness tests, including the Heckman selection model. The sample consists of 547 nonfinancial firms listed on the Bursa Malaysia stock exchange, with 5,478 firm-year observations over the 2001–2016 sample period.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Shariah certification is found to mitigate earnings management, particularly for firms that consistently retain their Shariah status. The longer firms retain their Shariah certification continually, the lower the earnings management. Additionally, the results indicate that the negative impact of Shariah certification on earnings management is driven by ethnic duality when a specific ethnic group dominates the top management.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>Firms’ commitment to religious-based screening and continuation of certification plays a significant role in improving earnings quality. Firms are committed to abiding by the Shariah code of conduct instead of using the Shariah status for reputation purposes to attract investors.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>For investors, the continuous compliance status is a crucial indicator of a firm’s commitment to comply with Shariah principles and to mitigate earnings management. Regarding policy implications, Shariah-compliance guidelines can constrain earnings manipulation, especially among firms lacking ethnic diversity.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The study shows that Shariah certification must be maintained consecutively to reduce earnings management. Shariah certification’s governance function is crucial in ethnically homogeneous firms, primarily when one ethnic group dominates the senior management.</p><!--/ Abstract__block -->","PeriodicalId":46046,"journal":{"name":"Journal of Islamic Accounting and Business Research","volume":"19 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2023-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138579106","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}