International Entrepreneurship from an Islamic (Sharia Compliant) Perspective: “The Opportunities for Western Economies”

This paper aims to investigate the relationship between Halal certification and corporate social responsibility (CSR) disclosures in Italian food and beverage companies.We employ an explorative method using content analysis, followed by chi-square test, correlation analysis, and a multivariate regression to address the research objectives. We find a relationship between being a Halal or non-Halal company and CSR disclosures. Additionally, there is a significant and positive relationship between Halal certified CSR firms' disclosure index and return on investment. The paper reveals that companies with Halal certificates have a greater tendency towards CSR. The results are relevant for academics and practitioners. To the best of our knowledge, our paper strengthens the discussion on halal certification and CSR scientifically. Additionally, our results are useful for practitioners as managers and entrepreneurs, to understand halal certification's value and its link with the environmental, economic and social space.

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“…In this sense, the link between Islamic religion and CSR can be reflected in Halal certification (Biancone & Radwan, 2017).…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

Halal certification impact on firms' corporate social responsibility disclosure: Evidence from the food & beverage sector in Italy

Secinaro

Radwan

Calandra

et al. 2021

Corp Soc Responsibility Env

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“…Usually, the higher rate of investment return from equity is huge, unlike in debt financing. Equity financing as an entrepreneurial financing model has the great potential to significantly serve the investor's and entrepreneurs' financial preferences across the globe (Biancone & Radwan, 2017) if necessary criteria and effective management strategies are incorporated.…”

Section: High Investment Returnmentioning

confidence: 99%

“…Thus, the partnership would yield great financial benefits for both parties, especially the manager, and navigate a remarkable sustainable socio-economic development than employing the debt-based financing model, which creates a bunch of debts rather than creating financial independence and entrepreneurial productivity. This social element is an integral attribute of Islamic finance being an ethical financial system that promotes not only religious responsibility but rather social welfare through socially responsible investments (Biancone & Radwan 2016).…”

Section: Social Impactmentioning

confidence: 99%

Debt-Based Versus Equity-Based Financing: A Comparative Analysis on Efficiency of Islamic Financial System

Maikabara

Maulida

Aderemi

2020

IJIEFB

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Introduction to The Problem: The financial system, as a subset of economics, plays a prominent role in solidifying the socio-economic development and wellbeing of people of a society. However, debt-based and equity-based financing are the main models employed by Islamic financial institutions to help small and medium enterprises (SMEs) that need funding to facilitate their businesses' projects. Operationally, debt-based financing seems to be the prominent financing model than equity-based financing, which only accounts for either zero or small scale in Islamic financial institutions.Objective Study: This study explores the rightful financing model that can contribute much better to the efficiency of the Islamic financial system in achieving socio-economic development.Methodology: To achieve the study's purpose, a literature-based method and secondary data collection technique are adopted as related previous studies from articles, books, conferences, and working papers are reviewed and analyzed.Findings: Equity-based model as a partnership model is somewhat more productive in contributing to socio-economic development than debt-based financing, but not being widely applied due to specific issues such as high risk, agency problem, costumer’s awareness, and sensitivity, and others more. It is recommended that researchers empirically investigate the suitable financing model between debt-based and equity-based financing models to ensure the achievement of sustainable socio-economic development.

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“…In most economies across the globe, SMEs are the backbone for economic growth that significantly contributes to capital accumulation and employment opportunities (Biancone and Radwan, 2014). According to Hajjar (2020), micro, small and medium enterprises (MSMEs) in Islamic countries accounted for 53.2 enterprises per 1,000 population, more than twice the global rate of 25.2 enterprises per 1,000 population.…”

Section: Introductionmentioning

confidence: 99%

Factors influencing the financial satisfaction of MSME owners: the mediating role of access to Islamic financing

Mahmoud

Umar

Ado

et al. 2023

MRR

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Purpose The purpose of this study is to extend the extant literature on the relationship between financial risk tolerance (FRT), awareness of Islamic financial principles (AWIF) and positive financial behaviour (FB) on financial satisfaction (FS) of micro, small and medium enterprise (MSME) owners by principally investigating the mediating effect of access to Islamic financing (AIF) on these relationships. Design/methodology/approach A quantitative survey method of data collection through a self-administered questionnaire. The sample of 384 MSME owners was selected in which 208 questionnaires were retrieved and analysed using the partial least square structural equation modelling (SEM). Findings The result shows that the relationships between FRT and AIF as well as FB and AIF are not significant. However, the AWIF–AIF relationship was found to be positively significant. Moreover, only the mediating effect of AIF on the AWIF–FS relationship was established. Practical implications The result implies that AIF could strongly influence the FS of MSME owners, and the AWIF–FS relationship is better explained with sufficient AIF. However, AIF could not mediate the relationships between FRT–FS and FB–FS. Therefore, policymakers and MSME owners should emphasize on AWIF and AIF to enhance FS. Originality/value This study pioneers the examination of the mediating influence of AIF on FRT, AWIF, FB and FS of MSME owners in a single framework. Despite the importance of MSME owners on economic sustainability, literature on MSME owners' FS is lacking expressly among developing countries, particularly in Nigeria. This study also revealed new theoretical and practical knowledge by illuminating the mediating effect of AIF on AWIF–FS relationship.

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International Entrepreneurship from an Islamic (Sharia Compliant) Perspective: “The Opportunities for Western Economies”

Abstract: Abstract

Cited by 6 publications

References 26 publications

Halal certification impact on firms' corporate social responsibility disclosure: Evidence from the food & beverage sector in Italy

Halal certification impact on firms' corporate social responsibility disclosure: Evidence from the food & beverage sector in Italy

Debt-Based Versus Equity-Based Financing: A Comparative Analysis on Efficiency of Islamic Financial System

Factors influencing the financial satisfaction of MSME owners: the mediating role of access to Islamic financing

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