Suchergebnisse

Cover; Endorsement; Half Title; Title Page; Copyright Page; Table of contents; List of Figures; List of Tables; List of Contributors; 1 Screening and performance of shariah-compliant companies; Introduction to shariah screening; The start of the Islamic finance standard; Shariah screening; Shariah-compliant corporate universe; Limitations of existing shariah screening: ethical and social responsibility issues; Islamic Business Scorecard; Ethical Identity Index; Corporate social responsibility; Summary; Performance of shariah-compliant firms; Liquidity ratios; Current ratio; Quick ratio

Purpose
Extending on the resource-seeking foreign direct investment (FDI) hypothesis, this paper aims to uncover the potential relationship between financial and non-financial channels and inward FDI before and after the global financial crisis.


Design/methodology/approach
The sample includes 561 year-country observations on 33 developed and developing countries during 2001 and 2017. This study investigates several determinants such as inflation, gross domestic product growth, exchange rate, trade openness, financial openness, Sharpe ratio and country market capitalization, using ordinary least squares, fixed effects and system generalized method of moments.


Findings
The results indicate a negative relationship between inflation and financial openness with FDI inflow while market capitalization and exchange rate were positively connected to FDI inflow. All three financial channels of FDI inflow: financial market size, financial openness and Sharpe ratio significantly influenced FDI inflow. Moreover, inflation, financial openness and Sharpe ratio imply a meaningful impact on the FDI inflow of developed and developing countries, with a relatively stronger influence during the post-crisis periods. Asymmetric impact tests also revealed similar results.


Research limitations/implications
These findings offer an impression that financial market development channels may significantly boost FDIs in developing and, as well as developed countries. With special reference to the developing countries, a disciplined financial market and financial openness may help attract more FDIs.


Originality/value
Impact of the financial crisis on FDI inflows while observing the impact of the financing channels in developing and developed countries is rare in the academic domain. This study forwards that a structured and open financial market may help in recovering from the financial crisis.

This book explores several challenges facing FinTech in Islamic financial institutions. Firstly, large banks and financial institutions in countries with updated and innovative technological channels will earn the technology arbitrage from FinTech. This size puzzle may create a challenge for Islamic financial institutions that are of smaller size and from technologically less-developed countries. Secondly, while access to FinTech is getting broader day by day, usage of FinTech is still limited due to personal and governance-related limitations. Moreover, the level of awareness of the emerging FinTech services (i.e., bitcoin, blockchain, etc.) remains extremely poor even among the residents of technologically-advanced countries. Thirdly, use of FinTech by Islamic financial institutions is limited to Islamic banking, to users from developed countries, among young customers, and for a limited number of traditional banking services such as the deposits and payment services. Also, banks hope to use FinTech to increase the size of a new breed of technology-savvy depositors and loan customers to achieve economies of scale, which may help stabilize the banking sector. Automation in Islamic banks and the participation of Islamic financial institutions in blockchain and bitcoin domains require extensive research from Shariah-compliance as well as market and consumer-related grounds. With all the opportunities and challenges of FinTechpromoting inclusion, easier loan monitoring, and risk of Shariah non-compliancethis book explores the implications for Islamic financial institutions and will be of interest to scholars, researchers, and students of Islamic finance and financial technology. M. Kabir Hassan is a Professor of Finance in the Department of Economics and Finance in the University of New Orleans, USA. He currently holds two endowed ChairsHibernia Professor of Economics and Finance, and Bank One Professor in Business. He is the winner of the 2016 Islamic Development Bank (IDB) Prize in Islamic Banking and Finance. Mustafa Raza Rabbani is an Assistant Professor in the Department of Economics and Finance at the University of Bahrain and holds a PhD in Banking and Financial Services from Jamia Millia Islamia University, India. Mamunur Rashid is a Senior Lecturer in Finance at the Christ Church Business School, Canterbury Christ Church University, UK. Prior to joining CCCU, he taught Finance at University Brunei Darussalam, the University of Nottingham, and East West University for more than 17 years. .

Of interest to both academics and practitioners who assist in making Shariah-centric strategies, this work is particularly important as Asia holds a major percentage of Islamic assets in South Asia, Southeast Asia, and the Middle East, with new opportunities opening in Central Asia.

AbstractThis research offers fresh evidence supporting the pervasiveness of the momentum effect. Two decades after the momentum profitability firstly documented by Jegadeesh and Titman (1993), yet little research has been specifically devised for the momentum profitability on Shari'ah compliant stocks. We assess the momentum profitability over the Shari'ah compliant stocks in a Malaysian setting. We find evidence of strong return persistence as far as toward four‐year holding period. Interestingly, no significant momentum returns are found among the conventional stocks. Upon further exploration we find neither an industry‐driven momentum effect nor the small size firms can account for the momentum returns. Using return persistency formation criteria, we further find that underreaction seems to well fit in explaining this unique long lasting momentum profitability.

In recent years, there has been a revival of the term "structural violence (SV)" which was coined by Johan Galtung in the 1960s in the context of Peace Studies. "Structural violence" refers to social structures—economic, legal, political, religious, and cultural—that prevent individuals, groups and societies from reaching their full potential. In the European context, very few studies have investigated health and well-being using an SV perspective. Therefore, this paper sought to systematically and descriptively review studies that used an SV framework to examine health-related outcomes across European countries. The review included two studies each from Spain and France, one each from the UK, Ukraine and Russia, and another study including the three countries Sweden, Portugal and Germany. With the exception of one mixed-method study, the studies used a qualitative design. Furthermore, the eight studies in the review used different conceptualizations of SV, which indicates the complexity of using SV as a concept in public health in the European context. Future research that attempts to identify and standardize measures of SV is needed; the knowledge gained is hoped to inform appropriate interventions aiming to reduce the effects of SV on population health.

In recent years, there has been a revival of the term "structural violence (SV)" which was coined by Johan Galtung in the 1960s in the context of Peace Studies. "Structural violence" refers to social structures—economic, legal, political, religious, and cultural—that prevent individuals, groups and societies from reaching their full potential. In the European context, very few studies have investigated health and well-being using an SV perspective. Therefore, this paper sought to systematically and descriptively review studies that used an SV framework to examine health-related outcomes across European countries. The review included two studies each from Spain and France, one each from the UK, Ukraine and Russia, and another study including the three countries Sweden, Portugal and Germany. With the exception of one mixed-method study, the studies used a qualitative design. Furthermore, the eight studies in the review used different conceptualizations of SV, which indicates the complexity of using SV as a concept in public health in the European context. Future research that attempts to identify and standardize measures of SV is needed; the knowledge gained is hoped to inform appropriate interventions aiming to reduce the effects of SV on population health.

In recent years, there has been a revival of the term "structural violence (SV)" which was coined by Johan Galtung in the 1960s in the context of Peace Studies. "Structural violence" refers to social structures—economic, legal, political, religious, and cultural—that prevent individuals, groups and societies from reaching their full potential. In the European context, very few studies have investigated health and well-being using an SV perspective. Therefore, this paper sought to systematically and descriptively review studies that used an SV framework to examine health-related outcomes across European countries. The review included two studies each from Spain and France, one each from the UK, Ukraine and Russia, and another study including the three countries Sweden, Portugal and Germany. With the exception of one mixed-method study, the studies used a qualitative design. Furthermore, the eight studies in the review used different conceptualizations of SV, which indicates the complexity of using SV as a concept in public health in the European context. Future research that attempts to identify and standardize measures of SV is needed; the knowledge gained is hoped to inform appropriate interventions aiming to reduce the effects of SV on population health.

Purpose
Competitiveness is vital to attracting FDI into a country, which has led us to investigate the determinants of FDI in the top 15 most competitive countries in the Asia Pacific region.

Design/methodology/approach
We have analysed political stability alongside other commonly studied determinants of FDI. We have employed a panel data fixed-effect model on a 14-year sample data (2000-2013) involving the top 15 most competitive Asia Pacific countries. The Global Competitiveness Index was taken as the yardstick to identify these countries. We have used fixed effect, GMM-system, and Panel ARDL tests for robust results.

Findings
The GDP, trade openness and political stability positively influenced FDI inflows while inflation rate negatively impacted FDI inflows in the selected countries. Political stability was the most influential variable in the presence of other indicators. GDP, openness, and political stability exhibit significant long-run relationship with FDI inflows.

Research limitations/implications
To increase FDI flows, regulators should focus on building the image of the country, and possibly the region, by ensuring stable economic and political environment, maintaining macroeconomic stability through bi- and multi-lateral arrangements with neighbouring countries.

Originality/value
Regional relationships with neighbouring countries can be considered as the building blocks for attracting FDIs. These relationships can be strengthened based on liberal trade policies, openness in capital control, and cooperation in terms of political actions. One such recent issue in regional political cooperation include actions to reduce terrorism and corruption that help boost the confidence of the investors.