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Article
Publication date: 10 June 2022

Muneer M. Alshater, M. Kabir Hassan, Adel Sarea and Hussein Mohammad Samhan

This study aims to explore the Islamic accounting literature and attempts to identify the worldwide research trends of accounting for Islamic financial institutions.

Abstract

Purpose

This study aims to explore the Islamic accounting literature and attempts to identify the worldwide research trends of accounting for Islamic financial institutions.

Design/methodology/approach

This study adopts a mixed review approach combining the bibliometric method with content analysis. Consulting Scopus database, the authors collect 195 documents (articles and reviews) relative to the Islamic accounting field from 1982 to 2020. VOSviewer, RStudio (biblioshiny) and Excel analysed the data.

Findings

The study revealed the influential scientific actors in the Islamic accounting field, categorising the intellectual structure into seven streams: accounting for Waqf, accounting for Zakat, Shariah auditing, corporate Shariah governance and screening, accounting for different modes of Islamic financing, education and ethics. The study further provides future research directions for researchers.

Social implications

The findings highlight the efforts of academicians, researchers and practitioners in this emerging field. This effort provides awareness to different stakeholders on Islamic accounting, which will lead to better stewardship, accountability and information-based decision in line with Islamic economic principles.

Originality/value

This study is among the first Islamic accounting bibliometric papers that would help researchers stand on a firm basis concerning the development of the literature in this scientific domain.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 8
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 14 June 2022

M. Kabir Hassan, Muneer M. Alshater, Hasanul Banna and Md Rabiul Alam

World legends and the scientific community have taken the devastating impact of poverty issue seriously which has been reflected in the growing trend of research in this area…

Abstract

Purpose

World legends and the scientific community have taken the devastating impact of poverty issue seriously which has been reflected in the growing trend of research in this area. Hence, this paper aims to conduct a bibliometric analysis on poverty alleviation literature, discuss the various dimensions of poverty alleviation and deliver some ideas for future research.

Design/methodology/approach

This study deploys a combined quali-quantitative method familiar as meta-literature review on 454 articles collected from the Web of Science (WoS) database with Social Science Citation Index (SSCI) coverage over the period 1971–2020. Using Rstudio, VOSviewer and Excel, the collected data have been analysed from different lenses.

Findings

This study considers the most contributing scientific actors like authors, journals, topics, institutions and countries as parameters for analysing articles. Based on the analysis from various perspectives, it determines five main research streams upon which it provides some potential research directions to be considered in future research.

Research limitations/implications

This study solely relies on the articles available in the WoS database with index in SSCI. However, it excludes analysing thousands of articles on the same topic available in other platforms.

Originality/value

This study provides a retrospective on the scientific works and collective efforts of scholars germane to poverty alleviation from the highest ranked journals, which would help better understand the literature development and the intellectual structure of this field.

Details

International Journal of Ethics and Systems, vol. 39 no. 3
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 6 June 2022

Bashar Yaser Almansour, Muneer M. Alshater, Hazem Marashdeh, Mohamed Dhiaf and Osama F. Atayah

The purpose of this study is to investigate the dynamic return volatility connectedness among S&P, Dow Jones (DJ) sustainability indices and their conventional counterparts.

Abstract

Purpose

The purpose of this study is to investigate the dynamic return volatility connectedness among S&P, Dow Jones (DJ) sustainability indices and their conventional counterparts.

Design/methodology/approach

This study uses time-series daily data for 10 S&P and DJ indices over the period of December 1, 2012 to December 8, 2021. The authors divide the data into three periods; over the whole sample, pre and during the Covid-19 pandemic. The study adopts the connectedness approach developed by Diebold and Yilmaz (2014).

Findings

The results reveal a high degree of connectedness between S&P and DJ indices and their relative sustainability indices over the whole sample, pre and during the Covid-19 pandemic, indicating that the sustainability indices converge toward their conventional peers. The results further show that the conventional S&P500, S&P Euro 50 and DJWI are the main transmitters of shocks, whereas the S&P400, S&P500 and S&P50 sustainability indices are the main receivers of shocks.

Originality/value

The study provides novel insights in terms of shock transmission of S&P and DJ sustainability indices and their conventional counterparts, where there is a lack of investigation of the connectedness between indices in this field.

Practical implications

The study has significant implications for investors and portfolio managers to devise portfolio strategies to minimize risk and trace the cause, the direction and the magnitude of risk transmission among different indices. Also, the results help policymakers to manage diverse types of risks associated with S&P and DJ indices. Finally, faith-based and ethical investors would be able to predict the pairwise spillover connectedness between these indices.

Details

Competitiveness Review: An International Business Journal , vol. 33 no. 1
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 10 June 2021

Muneer M. Alshater, Ram Al Jaffri Saad, Norazlina Abd. Wahab and Irum Saba

This paper aims to develop a meaningful single-source reference for Islamic economics and finance scholars concerning zakat intellectual structure published in journals indexed by…

1295

Abstract

Purpose

This paper aims to develop a meaningful single-source reference for Islamic economics and finance scholars concerning zakat intellectual structure published in journals indexed by the Scopus database.

Design/methodology/approach

The bibliometric method is used to describe and analyze the evolution of publication structure and its various co-relations such as co-citation, co-authorship and bibliographical coupling.

Findings

The authors discuss the influential and conceptual aspects of the published literature on zakat. An interesting finding is that few papers have received more than 50 citations. The analysis revealed that the Journal of Islamic Accounting and Business Research is the most cited source. Nevertheless, the list of the eight most cited papers reflects that research in this field is still dearth. Further, the authors find that zakat is discussed within the context of religion, its institutional framework, its role to eradicate poverty and distribution management of zakat. The authors also identify and present 14 research directions that will further stimulate scholarly work in the zakat field.

Research limitations/implications

The study confines on English papers and reviews published in journals indexed by the Scopus database only; hence, the study is representative of the moderate and high-quality papers published in this area of knowledge.

Practical implications

Researchers envision that this bibliometric study will complement meta-analysis and qualitative structured literature reviews as a method of reviewing and evaluating the scientific literature of this study area; thus, this may help researchers for futuristic research directions.

Originality/value

To the best of the authors’ knowledge, this paper is the first to tackle the zakat area from a bibliometric aspect. The authors believe that this will help scholars and researchers to stand on firm bases regarding the scientific development of this area of study.

Details

Journal of Islamic Accounting and Business Research, vol. 12 no. 4
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 7 March 2023

Khakan Najaf, Mayank Joshipura and Muneer M. Alshater

This study examined the impact of war/conflict-related news on the Russian and Ukrainian stock markets in the build-up and beginning of the war that sparked in the year 2022.

Abstract

Purpose

This study examined the impact of war/conflict-related news on the Russian and Ukrainian stock markets in the build-up and beginning of the war that sparked in the year 2022.

Design/methodology/approach

In order to examine the impact of war-related news on stock returns, data were gathered from the United States (US) and Russian stock indices, oil price and volatile index (VIX) from Yahoo.finance; Ukrainian stock values from pfts.ua website and daily related news retrieved from nexis.com were analysed. The data were gathered from January 1, 2022 to February 24, 2022. Seeming unrealated regressions (SUR) and exponential generalised autoregressive conditional heteroscedastic (EGARCH) models were carried out to determine the formulated correlations. This study controlled the oil price, US stock returns, Chicago Board Options Exchange (CBOE) VIX and difference in stock returns of Russia and Ukraine.

Findings

The results are presented two-fold: first, war-related news between the two countries enhanced volatility and caused a significant decline in the stock market indices for both countries. Second, the Russian stock market faced a steeper decline in the build-up and the actual beginning of the war than the Ukrainian stock market. Notably, the Russian markets feared the adverse economic consequences that stemmed from the sanctions the US and the Western world imposed.

Research limitations/implications

As this study was based on early evidence, future studies with a longer window may provide better insights. This present study is restricted to the stock returns of the countries directly involved in the build-up towards war. Studies focusing on the impact of other asset classes, currencies, commodities and global stock markets might offer holistic insights.

Practical implications

The study outcomes suggest that global portfolio investors should stay away from stock markets of the war-raged countries and equity markets in general, but instead look for safe-haven assets.

Originality/value

The paper evaluates stock markets' performance during the pre-war period, considering the context of this historical war between the neighbours. It is important to understand this issue as this war is subject to sanctions by the US and leads to a global supply chain crisis.

Details

The Journal of Risk Finance, vol. 24 no. 3
Type: Research Article
ISSN: 1526-5943

Keywords

Article
Publication date: 1 December 2020

Muneer M. Alshater, M. Kabir Hassan, Ashraf Khan and Irum Saba

Islamic finance is an alternative approach of financial intermediation based on risk-sharing and asset-backed operations, which evolved substantially in recent years in academic…

1557

Abstract

Purpose

Islamic finance is an alternative approach of financial intermediation based on risk-sharing and asset-backed operations, which evolved substantially in recent years in academic research raising the need for quantitative studies to address the intellectual development and scientific performance of this field. This study aims to provide quantitative statistics and comprehensive review of the key influential and intellectual structure of Islamic finance literature.

Design/methodology/approach

The authors apply the trending and cutting-edge quali-quantitative approach of bibliometric citation analysis. This study reviews 1,940 English studies and review papers published in scientific journals indexed by the Scopus database from 1983 to 2019. RStudio, VOSviewer and Excel’s software are used to analyze the collected data and apply the bibliometric tests.

Findings

The results identify the leading academic authors, journals, institutions and countries with relation to Islamic finance. The authors also propose six main research themes in this field, which are as follows: Islamic finance – fundamentals, growth and legitimacy; customer’s attitude and perception toward Islamic finance; accounting and social reporting of Islamic finance; performance and risk management of Islamic finance; Islamic financial markets; and efficiency of Islamic financial institutions. Lastly, the authors identify research gaps in the existing Islamic finance literature and present 24 future research directions.

Research limitations/implications

The data in this study is confined only to the Scopus database of English papers and reviews. It also considers papers directly related to the field of Islamic finance.

Originality/value

To the best of the authors’ knowledge, this paper is one of the first to address the literature of Islamic finance from a bibliometric aspect. The results of this study along with future research questions will help researchers and practitioners to further explore and stand on firm quantitative bases regarding the scientific development of Islamic finance.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 25 April 2023

Rim El Khoury, Walid Mensi, Muneer M. Alshater and Sanghoon Kang

This study examines the risk spillovers between Indonesian sectorial stocks (Energy, Basic Materials, Industrials, Consumer Cyclicals, Consumer Non-cyclical and Financials), the…

Abstract

Purpose

This study examines the risk spillovers between Indonesian sectorial stocks (Energy, Basic Materials, Industrials, Consumer Cyclicals, Consumer Non-cyclical and Financials), the aggregate index (IDX) and two commodities (gold and West Texas Intermediate Crude Oil [WTI] futures).

Design/methodology/approach

The study uses two methodologies: the TVP-VAR model of Antonakakis and Gabauer (2017) and the quantile connectedness approach of Ando et al. (2022). The data cover the period from October 04, 2010, to April 5, 2022.

Findings

The results show that the IDX, industrials and materials are net transmitters, while the financials, consumer noncyclical and energy sectors are the dominant shock receivers. Using the quantile connectedness approach, the role of each sector is heterogeneous and asymmetric, and the return spillover is stronger at lower and higher quantiles. Furthermore, the portfolio hedging results show that oil offers more diversification gains than gold, and hedging oil is more effective during the pandemic.

Practical implications

This study provides valuable insights for investors to diversify their portfolios and for policymakers to develop policies, regulations and risk management tools to promote stability in the Indonesian stock market. The results can inform the design of market regulations and the development of risk management tools to ensure the stability and resilience of the market.

Originality/value

This study is the first to examine the spillovers between commodities and Indonesian sectors, recognizing the presence of heterogeneity in the relationship under different market conditions. It provides important portfolio diversification insights for equity investors interested in the Indonesian stock market and policymakers.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 11 March 2024

Denizar Abdurrahman Mi'raj and Salih Ulev

Given the overlapping themes and periods in specific subjects within Islamic economics and finance bibliometric research, which may yield similar findings in bibliometric studies…

Abstract

Purpose

Given the overlapping themes and periods in specific subjects within Islamic economics and finance bibliometric research, which may yield similar findings in bibliometric studies, it is essential to document the growth of Islamic economic and financial research using bibliometric methodologies. This study aims to understand better the critical bibliometric review trends and scientific advancements in Islamic economics and finance.

Design/methodology/approach

This study uses bibliometric analysis, collecting 46 Islamic economics bibliometric papers from the Web of Science Core Collection from 1975 to 2022. The authors generated top scientific scholars, keyword analysis, citation analysis, content analysis and conclusions for journal development using R Biblioshiny, VOSviewer, ATLAS.ti and Excel.

Findings

This study has established a comprehensive bibliometric framework for Islamic economics and finance bibliometric papers, encompassing all critical areas within the discipline and identifying any remaining research gaps. The major significant areas revealed were Islamic social finance and microfinance concerns, which are closely pertinent to the issues of ethics, corporate social responsibility and sustainability, respectively. The authors also identified opportunities for future bibliometric analyses in Islamic economics and finance, which include using more comprehensive databases, refining or broadening search strategies, using advanced techniques and units of analysis and suggesting themes for further exploration.

Research limitations/implications

The study relies merely on the Web of Science Core Collection database, which provides the most in-depth citations by source for the world’s scientific and scholarly research. Future research may consider expanding its scope to include other databases for a broader range of sources. Furthermore, due to the rise of bibliometric studies in Islamic economics and finance, this study also comments on the saturation of bibliometric studies conducted in several similar areas. While researchers bring their unique analytical perspectives to bibliometrics, this study provides a comprehensive view of existing research in Islamic economics and finance, highlighting well-explored topics and those that remain less studied. Thus, this could assist researchers in determining their future research priorities.

Practical implications

Policymakers in Islamic financial and economic institutions, including banking institutions, social, financial institutions and halal institutions, should be impacted by this research when making policies or conducting research. The viability of the current Islamic economic and financial ecosystem will be indirectly maintained and managed by these implications.

Social implications

This comprehensive meta-analysis in Islamic economics and finance is expected to impact the development and sustainability of the Islamic economic and financial ecosystem, promoting societal welfare through applying Islamic economics and finance.

Originality/value

This pioneering bibliometric analysis of Islamic economics and finance papers aims to offer insights and projections for future research in the field. This research contributes to the literature by examining various aspects, including evaluating literature on trending topics, analyzing papers related to research areas and conducting content analysis of existing bibliometric studies in Islamic economics and finance. It specifically groups these studies around fundamental topics, summarizes findings from contemporary research and identifies emerging research gaps.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 30 November 2022

Daniel Gilcher

This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study…

Abstract

Purpose

This paper aims to provide a novel explorative perspective on fund managers’ decisions under uncertainty. The current COVID pandemic is used as a unique reference frame to study how heuristics are used in institutional financial practice.

Design/methodology/approach

This study follows a grounded theory approach. A total of 282 diverse publications between October 2019 and October 2020 for 20 German mutual funds are qualitatively analyzed. A theory of adaptive heuristics for fund managers is developed.

Findings

Fund managers adapt their heuristics during a crisis and this adaptive process flows through three stages. Increasing complexity in the environment leads to the adaption of simplest heuristics around investment decisions. Three distinct stages of adaption: precrisis, uncertainty and stabilization emerge from the data.

Research limitations/implications

This study’s data is based on publicly available information. There might be a discrepancy between publicly stated and internal reasoning.

Practical implications

Money managers can use the provided framework to assess their decision-making in crises. The developed adaptive processes of heuristics can assist capital allocators who choose and rate fund managers. Policymakers and regulators can learn about the aspects of investor decisions that their actions and communication address. Teaching can use this study to exemplify the nature of financial markets as adaptive systems rather than static structures.

Originality/value

To the best of the author’s/authors’ knowledge, this study is the first to systematically explore the heuristics of professional money managers because they navigate a large-scale exogenous crisis.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Content available
Article
Publication date: 26 July 2021

Mohammad Kabir Hassan, Muneer Maher Alshater, Mamunur Rashid and Sutan Emir Hidayat

This paper aims to study the performance of the Journal of Islamic Marketing (JIMA). This study identifies the influential scientific actors and identifies the major dimensions…

1951

Abstract

Purpose

This paper aims to study the performance of the Journal of Islamic Marketing (JIMA). This study identifies the influential scientific actors and identifies the major dimensions and themes of the journal.

Design/methodology/approach

This study adopts a bibliometric method. A total of 483 articles and 27 reviews of the journal were collected from the Scopus database. This paper analyses the data using RStudio, VOSviewer and Microsoft Excel. Analyses were divided into three main categories: general performance indicators, citations analysis and cross-dimensional keywords analysis.

Findings

Islamic marketing establishes itself as an industry of its own, not as a cohort of Islamic finance. This study finds that JIMA played an active role in that respect. Islamic marketing has been primarily an Asian-dominated industry. Malaysia has led the development and publication of resources on Islamic marketing, followed by recent initiatives in Indonesia, Iran and Pakistan. There are also unique cases of Islamic marketing growth in non-Asian Muslim-minority countries, including the USA, the UK and Australia. Finally, loyalty, religiosity, halal food and intention of the Muslim consumers are the key dimensions covered by JIMA authors. This paper expects that JIMA will cater to the growing needs of Islamic marketing in diversified sectors, Islamic social marketing analytics, post-purchase attributes and multidimensional integration of Islamic marketing research in the dominance of diverse leadership styles and ownership structures.

Originality/value

The study provides an objective evaluation of the journal’s progress through a decade of its operation; it highlights the achievements and discusses the progress and contribution of the journal to the scientific community.

Details

Journal of Islamic Marketing, vol. 13 no. 10
Type: Research Article
ISSN: 1759-0833

Keywords

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