What makes Islamic banks different? A multivariate approach

Using data from 8615 banks (including 123 Islamic banks) in 124 developed and developing countries for the period between 2006 and 2012, we examine the financial characteristics that distinguish between conventional and Islamic banks. As banks’ financial characteristics are multi-faceted concepts, our indicators are constructed using principal component analysis. We find that Islamic banks are more capitalized, more liquid and more profitable, but have more volatile earnings compared to US and European banks. However, similarities in terms of liquidity and earnings volatility are more noticeable when the sample is limited to banks operating in countries where both systems coexist. Finally, we find that higher capital makes the returns of Islamic banks more volatile, while higher liquidity decreases the profitability of conventional banks.     

Residential grid storage technology battles: a multi-criteria analysis using BWM

This article focuses on the battle for dominance between various battery technologies in the residential grid storage market (< 10?KWh) in the context of residential energy systems and the related home energy management systems. We focus on five major battery technologies that are available in the market (lithium-based batteries, lead-based batteries, flow batteries, nickel-based batteries, and sodium-based batteries). Based on a literature review and expert interviews, we study the factors for technology success in the residential grid storage market. By applying the best worst method (BWM), we assign the relative importance to the factors and predict which technology will have the highest chance of achieving success. We compare this to the technology that now has the highest market share and conclude that BWM is a useful method to indicate technology dominance in this market.     

The geographic distribution of conferences in Jordan from 2014 to 2016 using predictive GIS modeling

Due to the continuous and rapid expansion of conference tourism and its paramount role in the economic growth of the host countries like Jordan, this study comes to track the geographic distribution of conferences for the years 2014–2016. The main goal of the study is to direct the locations of future conferences to less favored areas that are marginalized and poor. Spatial statistics and Geographic Information System Predictive Modeling (GISPM) are used to calculate the potential locations of conferences based on predefined criteria. The results indicate that the current locations of most of the conferences are concentrated in the northern and middle parts of the country. The GISPM results recommend the eastern and southern locations taking into consideration the socioeconomic development of host communities. The study offers other recommendations addressing managers, event planners, event organizers, conference stakeholders, and the enterprises as well as academic researchers in tourism planning and development.     

A multi-objective model for lot-sizing with supplier selection for an assembly system

Lot-sizing with supplier selection (LS-SS) is a fast-growing offspring of two major problem parents in logistics and supply chain management (‘lot-sizing’ and ‘supplier selection’). The model proposed in this paper is an attempt to extend it to an assembly system, by formulating a multi-objective model for an integrative problem of LS-SS for assembly items. The total costs of the system, consisting of purchasing, ordering, transportation, assembly, and holding, is considered the first objective function, while the total reliability of the finished products is considered the second objective function. The decision-maker aims to minimise the total costs while maximising the total reliability. Several constraints of the system (e.g. storage capacity, supplier production capacity) are taken into account. Given the complexity of the model, a heuristic evolutionary algorithm is proposed to solve the model. The results indicate which assembly items to order in which quantities, from which suppliers and in which time periods.     

Incorporating Neolithic villages at Petra,Jordan: an integrated approach to sustainable tourism

Listed as a World Heritage Site since 1985, the city of Petra is well regarded as the most important attraction in Jordan that is internationally recognized for its rare archaeological remains, monuments and façades that date back to Nabataean times. This paper presents an inter-disciplinary approach, which is co-constructed by an academic archaeologist and a sustainable tourism researcher that considers the integration of three rare and significant Neolithic villages as a unique extension of the cultural and heritage tourism experience in Petra. The paper begins by deliberating the implications of World Heritage Status for iconic and flagship destinations such as Petra. From this, results of a review of secondary research and interviews with local tour operators are presented which explored the issues and challenges that may inhibit the inclusion of the Neolithic villages as part of the Petra attraction system. The authors propose that an attraction diversification strategy and a sustainable tourism-planning approach are necessary to sustain the destination’s long-term future, conserve Petra’s archaeological sites, ensure economic benefits and appropriate participation of local communities within the region, and to serve as a way to attract more appreciative visitor markets to the region.     

Optimal wages for politicians

I consider a society that has to decide on the wage that it offers for an elected official. Potential candidates differ in their abilities, which determines their effectiveness in office and their opportunity cost. They consider the wage when deciding whether to enter as candidates, and if they do, how hard to campaign. The remuneration for the official that maximizes ordinary citizens’ expected utility is a function of the proportion of competent voters who are better informed about the quality of the candidates and are not influenced by the campaign. I use the data on U.S. governor salaries over six decades to evaluate some implications of the model. Specifically, the proportion of the state's population with a bachelor's degree—a proxy for the proportion of competent voters—is negatively correlated with the governors’ salaries when controlled for other factors.     

Pattern extraction for high-risk accidents in the construction industry: a data-mining approach

Accidents involving falls and falling objects (group I) are highly frequent accidents in the construction industry. While being hit by a vehicle, electric shock, collapse in the excavation and fire or explosion accidents (group II) are much less frequent, they make up a considerable proportion of severe accidents. In this study, multiple-correspondence analysis, decision tree, ensembles of decision tree and association rules methods are employed to analyse a database of construction accidents throughout Iran between 2007 and 2011. The findings indicate that in group I, there is a significant correspondence among these variables: time of accident, place of accident, body part affected, final consequence of accident and lost workdays. Moreover, the frequency of accidents in the night shift is less than others, and the frequency of injury to the head, back, spine and limbs are more. In group II, the variables time of accident and body part affected are mostly related and the frequency of accidents among married and older workers is more than single and young workers. There was a higher frequency in the evening, night shifts and weekends. The results of this study are totally in line with the previous research.     

Assessing the Impact of Rice Import Quota Policy on the Malaysian Rice Sector

ABSTRACT

After the food crisis in 2008, the Malaysian government reintroduced their efforts to reach rice self-sufficiency and to stabilize domestic prices by using a rice import quota of 700,000 tons per year. Though with the emergence of trade liberalization and regional agreements, Malaysian government interventions should be limited. Therefore, this article attempts to assess the impact of removing the rice import quota on the rice sector in Malaysia using a system dynamics model. The simulated results showed that due to developing rice-based industry in Malaysia and its effects on the rice market situation, the rice import quota might have a negative impact on increasing farmers’ income, more affordable prices for consumers, and diversification of food in Malaysia.     

CSR and the workplace attitudes of irregular employees: The case of subcontracted workers in Korea

In recent years, there has been a noticeable increase in organizational trends to hire irregular workers. This inclination, in a time of great flux and uncertainty, exacerbates human resource issues faced by firms. We argue that corporate social responsibility (CSR) can be an important antecedent to improve the workplace attitudes of irregular workers and as a result reduce the negative impact on organizations of the increased use of an irregular workforce. Hence, we explore the relationship between perceived CSR (composite and disaggregated) and unfairness perception and social relations of subcontracted workers with regular workers. We further attempt to explain these relationships through the mediating effects of psychological contract violation and organizational identity, respectively. Our analysis supports a negative effect of composite and external CSR on unfairness perception and positive effect on social relations. Additionally, our results support partial mediating roles of psychological contract violation and organizational identity. Theoretical and practical implications of the results are also discussed.     

Tensions between politico‐institutional factors and accounting regulation in a developing economy: insights from institutional theory

The study contributes to building an understanding of the impact of political forces on the information environment of listed firms in a developing economy. Specifically, it investigates the tensions between politico‐institutional factors and accounting regulation on the prolonged and incomplete implementation of the International Financial Reporting Standards (IFRS) in Bangladesh from 1998 to 2010. Two phases of interviews were conducted in 2010–2011 and IFRS‐related enforcement documents from 1998 to 2010 were evaluated. The study contributes that IFRSs are being diffused to developing countries like Bangladesh, but they invariably interact with local institutions (political institutions in this case), with variable outcomes (i.e. negative outcomes of IFRS implementation). Coercive, normative and mimetic isomorphisms are low in Bangladesh. Notably, political forces have been undermining mimetic isomorphism because of the high level of government intervention and the high level of political lobbying. Political institutional pressures stand in the way of mimetic isomorphism and constitute negative forces that add further tension to accounting regulation (e.g. the implementation of IFRS) in Bangladesh. Regarding the low level of normative isomorphism, there is evidence of a ‘blame culture’, with state institutions and professional accountancy institutions in the country blaming each other for the poor progress in IFRS implementation. Although the study focuses on Bangladesh, its results have implications for international policy makers (the International Accounting Standards Board, the International Monetary Fund and the World Bank), as well as the governments and regulators of other developing economies facing similar challenges in implementing IFRS.