Search results

The purpose of this paper is to determine the optimal profit-and-loss sharing (PLS)-based contract when market frictions occur.

This paper opts for an adverse selection analysis and Monte Carlo simulation to assess the less risky contract for the principal and the agent when musharakah, mudarabah and venture capital financings are used in imperfect markets. Furthermore, this framework enables us to capture the level of market frictions that the principal can bear and the level of audit that he/she may undertake to mitigate bankruptcy.

The simulation results reveal that Musharakah is the less risky contract for the principal compared to Mudarabah and venture capital when the shock is low and high. Furthermore, our findings indicate that the increase of market frictions engender higher audit cost and profit-sharing ratios. The increase of the safety index in the case of high shock is most likely attributed to the increase of the audit parameter for all contracts to mitigate the selfish behavior of the agent. Accordingly, the principal tends to require a higher profit-sharing ratio to compensate for the severer information asymmetry.

This paper has two main limits. First, the results were not compared to real data because the latter are not available. Second, this paper is a general framework to determine the less risky contract for the principal and does not consider the firm and sectoral characteristics. However, it can be extended in various ways where stress can be put on conflicts of interest between the principal and the agent with the aim to determine the contract that aligns their interests. In addition, the examination of firm dynamics in the case of equity and debt financing can provide further arguments for economic agents regarding the value of the firm, the growth rate and the lifetime of the project when information is asymmetrically distributed.

The findings shed some light on the necessity of the Islamic finance experts to re-think of the promotion of Musharakah because it dominates the two other contracts when market frictions occur.

Although Maghrabi and Mirakhor (2015), Alanzi and Lone (2015) and Lone and Ahmad (2017) among others showed that profit and loss sharing can ensure economic growth, findings may motivate economic players to consider Musharakah financing with the aim to reach financial inclusion and social, which is in line with Shari’ah requirements and Islamic values.

Although several papers highlighted the financial contracting theory from Shari’ah perspective, they ignored the financial issues that are associated to adverse selection. This paper provides theoretical evidence regarding the selection of the less risky financing mode in case of equity financing using Monte Carlo simulation.

This study aims to provide a review for scour in complex rivers and streams with coarser bed material, steep longitudinal bed slopes and dynamic environments, in the interest of the safety and the economy of hydraulic structures. The knowledge of scour in such geographical complexities is very crucial for a comprehensive understanding of scour failures and for establishing definitive criteria to bridge this major research gap.

The existing available literature shows significant work done in case of silt, sand and small sized coarser bed material but any substantial work for bed material of gravel size or above is lacking, resulting in a wide gap. Though some researchers have attempted to explore possibilities of refining the existing models by adding pier size, shape, sediment non-uniformity and armouring effects, which otherwise have been given a miss by the various researchers, including the pioneer in the field Lacey–Inglis (1930). But still, a rational model for scour estimation in such complex conditions for global use is yet to come. This is because all the parameters governing the scour have not been studied properly till date as is evident from the globally available literature and is witnessed in the field too, in recurrent failure of hydraulic structures especially bridges.

The researchers presume that the finer materials move only as a result of erosion. However, in actual field conditions, it has been observed that the large-sized stones also roll down and cause huge erosion along the river bed and damage the hydraulic structures, especially in the steep river/stream beds along hilly slopes. This fact has been overlooked in the models available globally and has been highlighted only in the current work in an attempt to recognize this major research gap. A study carried out on a number of streams globally and in Jammu and Kashmir, India also, has shown that in steep river and stream beds with bed material consisting of gravel size or greater than gravel, large scour holes ranging from 1 m to 5 m were created by furious floods, and due to other unknown forces along the channel path and near foundations of hydraulic structures.

To the best of the authors’ knowledge, this work is purely original.

The purpose of this paper is to offer a Christian perspective on the ethical issues related to natural procreation and artificial reproduction methods.

This paper uses descriptive and comparative methodology between the ethical aspects specific to natural procreation and artificial reproduction.

Religious beliefs play a significant role in shaping the moral perspective when an infertile couple is confronted with the choice between natural procreation and artificial reproduction.

This paper survey a broad bibliography and offers a critical evaluation of the moral aspects specific to different methods of reproductive technologies compared to the natural procreation approach.

This study examines the association between emotional intelligence (EI) and the tendency of future accountants to rationalize and engage in occupational fraud.

The study adopts a survey methodology and uses a questionnaire containing a fraud scenario and EI construct to gather data from 225 participants. It performed a Cronbach alpha to assess the measurement parameters consistency of EI and fraud tendency and employed Pearson correlation and regression analysis to test its hypothesis.

The study found that future accountants in Nigeria are emotionally intelligent and have a high fraud tendency. Also, it found a significant and positive association between EI and fraud tendency, suggesting that future accountants that are emotionally intelligent have a higher tendency to rationalize and engage in occupational fraud. In addition, the study found that academic intelligence, a control variable, positively associates with fraud tendency.

The study offers rare insights into the fraud tendency of future accountants, which would benefit the counter fraud community in Nigeria and other developing countries. Recruiters and employers will find the study beneficial in decision-making on job recruitment, placements and moral orientation for prospective accountant employees.

The study is the first to directly associate EI with the fraud tendency of future accountants from a developing country with high fraud profile and underdeveloped counter fraud strategy. Thus, it provides a benchmark for future studies in other developing countries.

Moral exemplarity is a desirable but complex achievement. The chapter discusses the meaning of moral exemplarity and examines how the self, as a psychological and spiritual centre within a Jungian perspective, contributes to fostering moral commitment.

A narrative study was conducted amongst ten spiritual healers in New Zealand and France. Stories were collected and analysed interpretively to uncover meaningful patterns about spiritual healers’ moral stance and apprehension of the self.

Spiritual healers demonstrated a deep commitment to the self which clearly sustained a commitment to serve or help others. Commitment to the self was articulated around five core values: self-work, self-reflection, humility, self-integrity and love.

The chapter highlights the moral value of inner work. The self, in its archetypal sense, carries as potential an ‘innate morality’ that resonates in the heart and nurtures integrity and authenticity. To commit to the self requires undertaking a long and painful exploration of the psyche and integrating unconscious material into ego-consciousness. The participating spiritual healers, who had committed to their self and were well advanced on their psychological exploration journey, displayed moral qualities akin to exemplarity.

The purpose of this paper is to investigate the relationship between corporate entrepreneurship (CE), organizational culture (OC) and business performance (BP). Additionally, the study has attempted to address the moderating influence of OC on CE–BP relationship.

Data were collected from middle managers of Big Five banks of Pakistan. A two-step approach to structural equation modeling was used. Using confirmatory factor analysis, the measurement model fit was determined. The significance of the theoretical relationship was assessed using structural model.

The results have supported the hypothesized direct and moderated relationship.

The present study extends the body of knowledge in testing the resource-based view of the firm theory and contingency theory through providing empirical evidence on the hypothesized relationships. Additionally, the study has contributed in the existing theory through evaluating the moderating of OC by using interaction effect in partial least squares structural equation modeling (PLS-SEM).

The participation of trans people is increasingly being framed as a defining issue for women's sport. A dominant narrative, promoted by various newly formed feminist organizations located in the Global North, is that (cisgender) women's sport will be forever changed – and negatively so – by the increased recognition and sports participation of trans athletes. The message is the following: first, that biological sex is fundamentally binary; second, that the place of ‘females’ in sport depends on the recognition of this biological ‘truth’; and third, that sports policymakers must choose between advancing the rights of interests of (cisgender) women or those of trans athletes, but can't do both. I call this phenomenon biofeminism: the wielding of scientific knowledge and expertise to claim binary, biological sex difference as the ‘true’ basis of (cisgender) women's experience and her rights. In this chapter, I offer an exploratory, empirical account of this variety of feminist mobilization by analyzing an awareness-raising event held in the United Kingdom in 2019. I approach this event as an opportunity to better understand how biofeminist actors are organizing, their epistemic strategies and the political frames they rely upon to give meaning to ideologies of binary sex difference and impact policy and legislation. Given the unfinished business of realizing gender equity within the institution of sport, I reflect on how women's sports organizations might counter biofeminist mobilization and pursue allyship between cis and trans women.

The purpose of this study is to empirically explore the mediating effect of teamwork on the relationship between strategic orientation and organizational performance.

This study adopted a descriptive research design. A self-reported questionnaire was used to collect data from 253 bank managers representing 20 commercial banks in Nigeria. The author used SmartPLS-SEM to analyze the data collected.

The results of the structural models showed a significantly positive relationship between strategic orientation and organizational performance on the one hand and between strategic orientation and teamwork on the other. It was also found that teamwork had a significantly positive link with organizational performance. Further analysis revealed that teamwork fully mediated the relationship between strategic orientation and organizational performance.

This study focuses on the Nigerian banking sector. Thus, it limits the generalizability of its findings to other sectors not covered. Future researchers could extend the study to other sectors to corroborate the findings presented.

The findings of this study provide some practical implications for business organizations and managers. Business organizations must be strategically positioned so that they can compete in today’s highly dynamic and competitive business environment and achieve superior performance. Likewise, business managers should make sure that all employees and sections in their organizations work cooperatively as a team by creating a collaborative climate where team spirit and teamwork thrive.

To the best of the author’s knowledge, this study is the first to provide empirical evidence of the mediating effect of teamwork on the relationship between strategic orientation and organizational performance. In that regard, it makes a valuable contribution to the field of strategic management and enhances the applicability and the generalizability of contingency and resource-based view theories across different environmental settings.

Multiple sequence alignment (MSA) is one of essential bioinformatics methods for decoding cis‐regulatory elements in gene regulation, predicting structure and function of proteins and RNAs, reconstructing phylogenetic tree, and other common tasks in biomolecular sequence analysis. The purpose of this paper is to describe briefly the basic concepts and formulations of gapped MSA and un‐gapped motif discovery approaches, and then review computational intelligence (CI) applications in MSA and motif‐finding problems.

This paper performs exhaustive literature review on the MSA and motif discovery using CI techniques.

Although CI‐based MSA algorithms were developed nearly a decade ago, most recent CI effort seems attempted to tackle the NP‐complete motif discovery problem. Applications of various CI techniques to solve motif discovery problem, including neural networks, self‐organizing map, genetic algorithms, swarm intelligence and combinations thereof, are surveyed. Finally, the paper concludes with discussion and perspective.

The algorithms and software discussed in this paper can be used to align DNA, RNA and protein sequences, discover motifs, predict functions and structures of protein and RNA sequences, and estimate phylogenetic tree.

The paper contributes to the first comprehensive survey of CI techniques that are applied to MSA and motif discovery.