Socially responsible investment: insights from Shari'a departments in Islamic financial institutions

Islamic financial institutions (IFIs) are emerging as prominent players in the financial world and are increasingly known for their conservative socially responsible investment (SRI). Being the Shari'a regulators and monitors of IFIs, the Shari'a departments are expected to implement the Islamic perspective of SRI – drawn from Shari'a principles – in their respective institutions. The purpose of this paper is to develop an SRI framework applicable to IFIs and other Shari'a compliant entities and assess its applicability within Shari'a departments of two Islamic banks. This paper involves cross‐case analysis based on interviews with Shari'a department officials in two settings differentiated by their respective independence. The proposed framework consists of required, expected and desired SRI aspects as applicable to IFIs. The findings reveal that the required aspects are uniformly observed by the two cases. There are, however, variations when it comes to observing the expected and desired ethical SRI aspects that may be driven by the independence of the Shari'a boards. This inconsistency and non‐adherence of expected and desired aspects may lead to reputational risks in the long run.     

MNCs and International Accountability Standards Through an Institutional Lens: Evidence of Symbolic Conformity or Decoupling

The recent proliferation of International Accountability Standards (IAS) has attracted significant academic interest, but the extent of their adoption and integration by global firms remains underinvestigated. Capitalizing on institutional theory and the typology of strategic responses to institutional pressures proposed by Oliver (Acad Manage Rev 16(1):145–179, 1991), this article uses an interpretive research methodology to analyze a sample of MNC practitioners’ views regarding IAS, and derive some insights in relation to expected patterns of strategic responses to these new institutional pressures. The article also presents relevant remarks relating to the usefulness of institutional theory in the context of research relating to IAS. The findings suggest patterns of engagement combining elements of both conformity and resistance, although the answers correspond most closely to a decoupling or symbolic conformity strategic response. The findings are fleshed out and their implications delineated/assessed.     

A Three Country Comparative Analysis of Managerial CSR Perspectives: Insights From Lebanon,Syria and Jordan

Corporate social responsibility (CSR) is a concept that has acquired a new resonance in the global economy. With the advent of globalization, managers in different contexts have been exposed to the notion of CSR and are being pressured to adopt CSR initiatives. Yet, in view of vastly differing national cultures and institutional realities, mixed orientations to CSR continue to be salient in different contexts, oscillating between the classical perspective which considers CSR as a burden on competitiveness and the modern perspective that views CSR as instrumental for business success. Capitalizing on the two-dimensional CSR model developed by Quazi and O’Brien (Journal of Business Ethics 25, 33–51, 2000), this article assesses managerial perspectives towards CSR in three neighboring Middle Eastern countries (Lebanon, Syria and Jordan) through an empirical study involving 333 managers. The findings lend support to the Quazi and O’Brien model (2000), suggesting some commonalities in CSR orientations as well as minor divergences. The findings are discussed and cross-cultural implications drawn accordingly.     

Mediating role of job stress between work-family conflict,work-leisure conflict,and employees' perception of service quality in the hotel industry in France

This study investigates the relationships among work-family conflict (WFC), work-leisure conflict (WLC), job stress, and quality of service. This study examines the mediating role of WLC between WFC and job stress. Also, it tests the mediator effect of job stress between WFC, WLC, and quality of service. Data were collected from employees in interaction with customers (648) in the hotel industry in France. The results indicate that WFC and WLC have a positive influence on job stress. The analyses of indirect effects tests based on a bootstrap analysis (Preacher &; Hayes, 2004 Preacher, K. J., &; Hayes, A. F. (2004). SPSS and SAS procedures for estimating indirect effects in simple mediation models. Behavior Research Methods, Instruments, &; Computers, 36, 717–731.[Crossref], [PubMed] , [Google Scholar]) showed an indirect effect between WFC and job stress. Similarly, the results demonstrated that job stress mediates the relationship between WFC, WLC, and quality of service. The results of the study provide implications for managing employees in the hospitality and tourism industries.     

Exploring human resource management roles in corporate social responsibility: the CSR‐HRM co‐creation model

Formulating and translating corporate social responsibility (CSR) strategy into actual managerial practices and outcome values remain ongoing challenges for many organizations. This paper argues that the human resource management (HRM) function can potentially play an important role in supporting organizations to address this challenge. We argue that HRM could provide an interesting and dynamic support to CSR strategy design as well as implementation and delivery. Drawing on a systematic review of relevant strategic CSR and HRM literatures, this paper highlights the important interfaces between CSR and HRM and develops a conceptual model, the CSR‐HRM co‐creation model, which accounts for the potential HRM roles in CSR and identifies a range of outcome values resulting from a more effective integration of the role of HRM within CSR. The paper concludes with relevant theoretical and managerial recommendations that advance our understanding of the potential interfaces between HRM and CSR and how HRM can support a systematic and progressive CSR agenda.     

A simulation-based evaluation of the cost of cycle time reduction in Agere Systems wafer fabrication facility—a case study

With the vast amount of capital invested in the semiconductor industry and the high level of competitiveness, semiconductor manufacturers are continuously searching for new methods to gain more market share and increase their profits. New technologies are continuously in demand, and are pushing the semiconductor manufacturers to seek better market position through constant improvement in their processes and products.Agere Systems is one of the leading companies in the microelectronics industry. This paper presents a comprehensive framework for strategic capacity expansion of production equipment at Agere Systems wafer fabrication facility (fab). We integrate simulation modeling, design of experiments, statistical analysis, and economic justification tools to aid in this highly complex decision-making process. We compliment the framework with a particular implementation. The procedure involved studying the factors in the fab that significantly impact the cycle times of the four main technologies that are currently in process and will stay in demand for at least the next few years. Moreover, the goal was to quantify the economic impact of reducing cycle times.To accomplish the objectives of this research, a valid simulation model of the production line of the fab was built. The production equipment (tool sets) that significantly influence production cycle time were identified through factor screening experiments. Based on these factors, several scenarios involving the acquisition of additional tools, aimed at cutting down cycle times, were identified and the operating characteristics curves were constructed. These characteristics curves were used to relate cycle time to production volume capabilities. Finally, an economic analysis was conducted to evaluate the return on investment in additional tools.The outcome of the case study was the identification of bottleneck facilities in the fab that have a significant impact on the cycle time of the four technologies. In the economic analysis, the cost of adding machines to these facilities was compared with the benefits resulting from the increase in production capacities.     

Systematic liquidity risk and stock price reaction to shocks

This study examines the relationship between systematic liquidity risk and stock price reaction to large 1‐day price changes (or shocks). We base our analysis on a yearly updated constituents list of the FTSE All share index. Our overall results are consistent with the price continuation hypothesis, which suggests that positive (negative) shocks will be followed by positive (negative) abnormal returns. However, further analysis indicates that stocks with low systematic liquidity risk react efficiently to both positive and negative shocks, whereas stocks with high systematic liquidity risk underreact to both positive and negative shocks. Our results are valid irrespective of various robustness tests such as size of the shock, size of the firm, month‐of‐the‐year and day‐of‐the‐week effects. We conclude that trading on price patterns following shocks may not be profitable, as it involves taking substantial liquidity exposure.     

Strategic partnerships,social capital and innovation: accounting for social alliance innovation

This paper focuses on innovation in the context of business–non‐governmental organization (NGO) partnerships for corporate social responsibility (CSR). While different aspects of business–NGO partnerships have been studied, the role of innovation and its potential implications for partnership outcomes have so far not been systematically explored. The paper defines innovation in simple and concrete terms and synthesizes from the literature what can be considered as critical ingredients to foster social alliance innovation. The paper posits in turn that these ingredients correspond closely to the conception of social capital and offers a consolidated framework that helps in probing around these ingredients and social capital in accounting for innovative partnership outcomes. The empirical part consists of a comparative analysis of six case studies of business–NGO collaboration in the context of CSR in the United Kingdom. The evidence presented makes it clear that strategic partnerships are more readily capable of innovation and that social capital as an umbrella concept is very promising in explaining the differential success and performance of social alliances and central to understanding the dynamics of social alliance innovation and value creation.     

Development of the Persuasion Knowledge Scales of Sponsored Content (PKS-SC)

Abstract

Despite the popularity of the Persuasion Knowledge Model, and its persistent relevance given the omnipresence of sponsored content (e.g. brand placement in TV programmes and video games, or paid product reviews in blogs), the way scholars measure persuasion knowledge varies widely. This study aims to develop valid and reliable scales for standardized measurement of consumers' persuasion knowledge of sponsored content. In three phases, we developed the Persuasion Knowledge Scales of Sponsored Content (PKS-SC) that measures nine components: (1) recognition of sponsored content, (2) understanding of selling and persuasive intent, (3) recognition of the commercial source of sponsored content, (4) understanding of persuasive tactics, (5) understanding of the economic model, (6) self-reflective awareness of the effectiveness of sponsored content, (7) skepticism toward sponsored content, (8) appropriateness of sponsored content, and (9) liking of sponsored content. All scales have good to appropriate validity and reliability. Recommendations for future research are discussed.     

Organic Farming for Sustainable Agricultural Production. A Brief Theoretical Review and Preliminary Empirical Evidence

The basic premise of this paper is that modern agricultural production is not sustainable in view of the high cost of chemical inputs (notably fertilizers and pesticides) used and their detrimental effects on the environment. Some of these effects are briefly discussed in this paper. The possibility of adopting organic farming as a means of promoting sustainable agriculture has been the main objective of this investigation.The results of the experiment carried out at the Chepkoilel campus farm, Moi University, Kenya to demonstrate the differences between the yields and returns to organic manure and chemical fertilizers show that high yields are obtained from the use of organic manure. The high yields are also shown to be obtained in subsequent years after the application of the organic manure. This is cheaper than the application of chemical fertilizers. Maximum yields are obtained from a combination of organic manure and chemical fertilizers. Organic manure has the added advantage of providing more healthy vegetables for human consumption and ensuring optimum soil fertility for sustainable production.