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Article
Publication date: 10 May 2023

Sherin Kunhibava, Aishath Muneeza, Zakariya Mustapha, Mohammad Ershadul Karim and Auwal Adam Sa’ad

This study aims to explore several challenges in the use of regulatory technologies (RegTech) in Islamic and conventional financial markets and share recommendations in this…

Abstract

Purpose

This study aims to explore several challenges in the use of regulatory technologies (RegTech) in Islamic and conventional financial markets and share recommendations in this regard.

Design/methodology/approach

A qualitative research methodology was used to identify the existing challenges. Literature was reviewed and analyzed, and seven experts were interviewed or consulted online and their feedback examined. The judgment of the case B2C2 Ltd v Quoine Pte Ltd. was reviewed.

Findings

This study reveals a lack of relevant regulatory frameworks capable of meeting some of the evolving challenges, lack of awareness among market players and lack of expertise in RegTech. The list of additional challenges includes the issue of legacy technology, the weaknesses of human programmers and the need for a multifaceted solution for compliance requirements.

Research limitations/implications

This study notes the novelty of RegTech in the financial world, especially in the Islamic financial market. Thus, there is a dearth of relevant literature. This study assists relevant conventional and Islamic financial market entities and authorities in determining the potential impact of RegTech on their respective businesses and the financial system.

Practical implications

This study proffers recommendations to assist in addressing the challenges facing its users and paving the way for innovative solutions that will facilitate and enhance the use of RegTech in financial markets. Regulators and other stakeholders of the financial industry will learn from the challenges identified and can review the recommendations for adoption. Apart from that, the decision of B2C2 Ltd v Quoine has practical implications for RegTech users, as the court in B2C2 Ltd v Quoine accessed the “knowledge” of the programmers of deterministic software at the time of the coding.

Originality/value

RegTech can offer cost-effective and efficient means to comply with regulations and ensure the accuracy of the information provided to regulators. This study provides a better understanding of the challenges associated with its use. The recommendations include enactment of a blueprint for a digitally enabled regulatory framework, creating awareness of RegTech via stakeholder roundtable discussions, development of human talent, formulating human governance standards and finding innovative ways to manage risks.

Details

Journal of Islamic Accounting and Business Research, vol. 15 no. 5
Type: Research Article
ISSN: 1759-0817

Keywords

Open Access
Article
Publication date: 17 June 2024

Kate McCain and Gina Matkin

The purpose of this phenomenological study is to explore leader identity development experiences of emerging adults at a large Midwest university and how retrospective family…

Abstract

Purpose

The purpose of this phenomenological study is to explore leader identity development experiences of emerging adults at a large Midwest university and how retrospective family storytelling (Koenig Kellas, 2018) plays a role in the sense-making of the leader identity process. Through a unique, three-phase qualitative and narrative inquiry approach, this research further explores LID sense-making through retrospective family storytelling.

Design/methodology/approach

Qualitative phenomenology and narrative inquiry approach. Data collection consisted of three different data sets: (a) two semi-structured interviews, (b) leader artifacts and (c) journals.

Findings

The stories told by the emerging adults described how key messages influenced their identity within the context of leader identity development and their college experiences. Furthermore, a key finding in the narratives exhibited the stories emerging adults recalled in the sense-making of their leader identity centered on persevering, overcoming hardships and interpersonal connections and relationships. Findings from this research contribute to LID literature for leadership educators, researchers and practitioners in leader development.

Originality/value

The research presented in this article advances LID by using a narrative approach to explore the role of family narratives in identity development. Further, it approaches qualitative work with rigorous data collection and analysis processing using a cross-case analysis to develop leader identity archetypes. This study directly impacts those who work with emerging adult college students and supports the development of college student leaders.

Details

Journal of Leadership Education, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1552-9045

Keywords

Article
Publication date: 14 June 2024

Reed E. Nelson

Mass markets, bureaucratic hierarchy and impersonal factories have provided the foundation for Western capitalism during the past three to four centuries, but long before this…

Abstract

Purpose

Mass markets, bureaucratic hierarchy and impersonal factories have provided the foundation for Western capitalism during the past three to four centuries, but long before this, the Islamic bazaar fulfilled many of these functions effectively if not admirably despite substantial cultural, political and economic challenges. Paradoxically, bazaar-like arrangements are reappearing in some of the most advanced sectors of the postmodern world at the same time they persist or surface in several other settings. The purpose of this paper is to consider the causes of this persistence and what it means for managers?

Design/methodology/approach

This paper uses the categories of Geertz’s classic ethnographic description of the Sefrou suq in Morocco buttressed with other relevant sources to compare the attributes of the institutions of classic capitalism described by Weber to the Islamic Bazaar and similar hybrid manifestations found in diverse settings today.

Findings

This study suggests five lessons for modern bazaaris: It is never totally about the money – the importance of multiple currencies in creating productive exchanges. The promise and dangers of clientelism – working with trusted collaborators speeds cooperation but poses the danger of stifling innovation. Private lives, public bonds – how the mechanisms of the bazaar permit diverse partners to collaborate successfully. Everyone is a broker – how participants in the bazaar search out creative opportunities for exchange. Creating safe, random interaction – how the physical and social design of the bazaar safely brings together rivals.

Research limitations/implications

These conclusions are drawn from existing ethnographic, historical and theoretical sources.

Practical implications

Contemporary managers dealing with environments where neoclassical markets and hierarchies no longer work or never fully arrived need to do the same, only more carefully, more consistently and more intentionally.

Originality/value

The legacy of the Islamic bazaar as a viable alternative to mass capitalism and a humanizing force has generally not been recognized in mainline management thought, especially in light of the erosion of the dominant metaphors of market and hierarchy in the postmodern world.

Details

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

Keywords

Abstract

Details

Professional Perspectives on Banking and Finance, Volume 1
Type: Book
ISBN: 978-1-83549-335-9

Book part
Publication date: 12 June 2024

Arup Kumar Baksi and Subhashree Sanyal

Intangible cultural heritage (ICH) can be a valuable tourism asset for both government and local communities. Due to the fragmented nature of ICH data, it becomes difficult for…

Abstract

Intangible cultural heritage (ICH) can be a valuable tourism asset for both government and local communities. Due to the fragmented nature of ICH data, it becomes difficult for the researchers to comprehend its impact on the psychology of the interacting tourists. Prior research has shown that traditional crafts and craftsmanship as ICH could be used to promote a place. However, ICH has scarcely been considered as a place branding element. The study apprehends that branding places with ICH will not only upscale the place in terms of ethno-cultural significance but also will integrate the visiting population with the ICH and thereby ensure knowledge propagation and preservation and reinforce the cultural roots. The study proposes a reflective brand model in the context of ICH of Natungram, a village known for its legacy of craftsmanship of wooden dolls. The study used crossover analysis framework (CAF), as a part of causal mixed-method research design, to inquire into the complex psyche of the tourists while interacting with the ICH and the artisans at Natungram. Three distinct brand elements were identified through a qualitative thematic content analysis, namely subjective vitality, authentic experience, and experiential quality. The brand model was tested for its impact on the behavioral pattern of the tourists by using appropriate quantitative method. The results confirmed both direct and partially mediated effects of the brand elements on the tourist behavior. In future, the model could be extrapolated spatiotemporally for places of ICH significance.

Details

Strategic Tourism Planning for Communities
Type: Book
ISBN: 978-1-83549-016-7

Keywords

Open Access
Article
Publication date: 14 March 2023

Sasha Boucher, Margaret Cullen and André Paul Calitz

Contemporary entrepreneurial ecosystem models and frameworks advocate that culture is a criterion for entrepreneurial intention and central to entrepreneurship discourse. However…

2133

Abstract

Purpose

Contemporary entrepreneurial ecosystem models and frameworks advocate that culture is a criterion for entrepreneurial intention and central to entrepreneurship discourse. However, there is limited research from resource-constrained economies, such as sub-Saharan Africa and at a sub-national level. Responding to calls for bottom-up perspectives hinged on local context and heterogeneous nature, this paper aims to provide an in-depth understanding from multiple perspectives about the effect that culture and entrepreneurial intention have on the entrepreneurship process and performance in Nelson Mandela Bay, South Africa.

Design/methodology/approach

A mixed-method research design followed a sequential independent process consisting of two phases. Phase 1 included the dissemination of questionnaires to economically active participants, and 300 responses were statistically analysed. In Phase 2, 15 semi-structured interviews with influential economic development agents were conducted.

Findings

The results indicated that social legitimacy towards entrepreneurship existed and self-employment was viewed positively. However, self-employment endeavours were mainly necessity driven, and the systemic low levels of innovation, poor business competitiveness and the inability to scale were highlighted. The findings indicated that individuals venturing into business had a culture of being dependant on the government, lacking a risk appetite, fearing failure, with disparate groups suffering from a poor legacy of entrepreneurship.

Originality/value

Despite research done on the role of culture and entrepreneurial intention on entrepreneurial ecosystems, there are few case studies showing their influence at a sub-national level. This study responds to calls for studies on a sub-national level by exploring the influence that culture and entrepreneurial intention have on entrepreneurship in a resource-constrained metropole.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 16 no. 4
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 11 June 2024

Urszula Garczarek-Bak, Andrzej Szymkowiak, Zuzanna Jaks and Erik Jansto

In this study, the effects are investigated of brand and product storytelling on customer assessments of perceived attitude, quality, experience, recommendation and purchase…

43

Abstract

Purpose

In this study, the effects are investigated of brand and product storytelling on customer assessments of perceived attitude, quality, experience, recommendation and purchase intention based on narrative transportation theory within the domain of winery e-commerce.

Design/methodology/approach

In the research, two distinct constructs are introduced for brand and product storytelling, and multivariate analysis of variance is applied to analyze data collected from 391 respondents from the UK.

Findings

It is indicated in the study that embedding storytelling into elements, such as age verification screens on e-commerce sites, notably improves evaluations for both brands and products. Product storytelling broadly boosts customer appraisals in every evaluated aspect, while brand storytelling shows effectiveness in more limited cases. This suggests that narratives focused on products may have a wider appeal in enhancing the online customer experience.

Originality/value

This research underscores the strategic significance of balancing the focus between brand and product in crafting storytelling narratives for e-commerce contexts. It offers new insights into tailoring storytelling to meet individual consumer needs online, enriching the existing body of literature on storytelling’s application in digital commerce. Importantly, the study provides actionable guidance for wineries and other businesses aiming to enhance their online customer engagement through targeted narrative strategies.

Details

International Journal of Wine Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1751-1062

Keywords

Article
Publication date: 13 June 2024

Neha Goyal Tater, Garima Toor and Tarush Chandra

This paper provides a comprehensive exploration of the historical evolution and contemporary transformations inherent in cultural landscapes, framed within the narrative of a…

Abstract

Purpose

This paper provides a comprehensive exploration of the historical evolution and contemporary transformations inherent in cultural landscapes, framed within the narrative of a cultural odyssey. The concept of cultural landscapes extends beyond the physical arrangement of landscape elements, encompassing social and cultural customs and economic dynamics in both tangible and intangible aspects of heritage. Instead of being confined to a linear evolutionary model of sacred-historic landscape development, these sites are understood to exist across different historical periods such as ancient, medieval, etc. reflecting their multifaceted nature.

Design/methodology/approach

The paper utilizes a thorough and systematic examination of existing literature, covering several disciplines such as cultural studies, anthropology and environmental studies. The methodology prioritizes a holistic approach by including succinct discussion of many locations to improve the analysis. The collection of qualitative data on the cultural importance of eco-heritage involves conducting participant observations and focus group talks to capture a diverse range of perspectives.

Findings

The paper highlights the importance of preserving and interpreting cultural landscapes as living, evolving entities. By recognizing diverse layers of history and cultural significance within these sites, research suggests strategies for integrating sustainable practices in the management of cultural landscapes.

Originality/value

This work makes a substantial contribution to the academic field by examining the intersection where cultural heritage and eco-transformations converge. By embarking on a cultural odyssey, the paper not only charts the progress of societies but also sheds light on the transformative impact of eco-heritage interactions. The novel perspectives offer a new framework for scholars, policymakers and practitioners to analyze and value the complex interrelationships between cultural legacy and ecological changes.

Details

Journal of Cultural Heritage Management and Sustainable Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1266

Keywords

Article
Publication date: 18 June 2024

Kirti Sood and Simarjeet Singh

The present study aims to systematically synthesize the academic and industrial literature on multi-central bank digital currencies (m-CBDCs) arrangements.

Abstract

Purpose

The present study aims to systematically synthesize the academic and industrial literature on multi-central bank digital currencies (m-CBDCs) arrangements.

Design/methodology/approach

The study adopted a unique multivocal literature review methodology that considers both white and grey literature. For white literature searches, the study relied on Scopus, Web of Science (WOS), and Google Scholar bibliometric databases; for grey literature searches, the study used the Google search engine.

Findings

The findings of the study illustrated that M-CBDC arrangements, through various design options, have the potential to revolutionize the contemporary international payment system. M-CBDC arrangements will lead to more integrated financial systems and promote economic growth. However, m-CBDC arrangements will also have serious macroeconomic implications, such as contagion and currency substitution risks.

Research limitations/implications

The present review is one of the earliest reviews of m-CBDC arrangements. In addition, the findings of the study offer valuable insights for both academicians and policymakers.

Originality/value

The study is also one of the pioneer studies in management studies that apply a multivocal literature review methodology.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Book part
Publication date: 12 June 2024

Sarah Chauhan and Nusrat Yasmeen

Travel aimed in experiencing the arts, heritage, and activities that authentically depict the stories and people of the past and present is referred to as cultural and heritage…

Abstract

Travel aimed in experiencing the arts, heritage, and activities that authentically depict the stories and people of the past and present is referred to as cultural and heritage tourism. This has gathered a lot of attention in the last 10 years. In order to protect their valuable history, developing countries require assistance from the international community. Cultural heritage tourism is a significant economic development tool and one of the best components of the tourism sector.

In the 21st century, in terms of museums and showcasing culture, there has been a significant commotion toward the role of people or community, rather than the morality of objectification of knowledge in a close-ended glass case. This concept can be traced back to “New Museology,” emerging since the 1970s, where a section of like-minded museologists believed that museums are for the people and of the people. It is important to include the “voices of the community” as a whole, therein, becoming a broad parlance of social culture (MacDonald, 2006).

Community participation is a process where people are facilitated by themselves and their responsiveness to their own traditions and culture. Henceforth, this chapter is an approach toward a case study of an emerging concept in Delhi – A Neighbourhood Museum in Shadi Khampur area, where the locality is prevalent since the 12th century. Other locals preside over the predating of Partition in the 17th century, when their ancestors settled from Lahore since then.

Details

Strategic Tourism Planning for Communities
Type: Book
ISBN: 978-1-83549-016-7

Keywords

1 – 10 of 129