A model of the Islamic sovereign wealth fund

Purpose The purpose of this paper is to propose a model of the Islamic sovereign wealth funds (ISWFs) based on Islamic finance principles to modify the precarious image of SWFs from Muslim countries. The Shariah laws are the cardinal direction for this study. Design/methodology/approach The authors applied a qualitative research technique that consists of three approaches: exploratory case study approach to critically examine and rank the existing status of SWFs; descriptive analysis; and content analysis to present a model of ISWFs in comparison of conventional SWFs. Findings The authors propose a model of the “Islamic Sovereign Wealth Funds” based on four key pillars: the major Shariah p…

A bibliometric review of sukuk literature

Abstract Sukuk (Islamic bonds) are one of the Islamic finance sectors that have experienced the fastest growth during the last decade. Using a quali-quantitative approach known as meta-literature review, the aim of this paper is to survey the sukuk literature over the period 1950–2018. In total we review and analyze 80 papers through bibliometric citation analysis (using HistCite and VOSviewer software) coupled with content analysis. We show the influential aspects of the literature, such as countries, institutions, journals, authors, articles and topics. We also present the co-authorship network and identify three research streams: (1) sukuk overview and growth, (2) sukuk and finance theor…

Corruption in international business: A review and research agenda

Abstract We systematically reviewed the literature on corruption in international business (137 articles) for the last 17 years between 1992 and 2019. Additionally, we identified seven research streams in this growing literature: (1) the legislation against corruption, (2) the determinants of corruption, (3) combating corruption, 4) the effect of corruption on firms, (5) the political environment and corruption, (6) corruption as a challenge to existing theories of management, and (7) the effect of corruption on foreign direct investment and trade. Based on this review, we recommend that strong international laws are needed to minimize the negative impact of corruption on international busi…

A bibliometric review of takaful literature

Abstract Takaful (Islamic Insurance) achieved only recently a significant volume of academic research, despite its importance in addressing the insurance needs of Islamic societies and economies. We provide a thorough analysis of existing contributions on Takaful through a meta-literature methodology encompassing both a bibliometric (quantitative) and content (qualitative) analysis. By reviewing 69 articles, we aim at providing a rigorous background for the Islamic finance industry, its societies and economies, academic research and policymakers. We identify and review three leading research streams on Takaful: its overview, growth paths and models; governance mechanisms; products/services …

Trade, financial openness and dual banking economies: Evidence from GCC Region

Abstract The recent wave of liberalization in Gulf Cooperation Council (GCC) countries has opened up a debate on the role of Islamic finance in the financial development of an economy. Using a comprehensive dataset of 43 Islamic and 49 conventional banks for the period 2007–2015, in this paper, we investigate the impact of trade and financial openness on financial development in the GCC region. We find that trade and financial openness have a positive effect on the profitability of both banking systems, while the interaction term of openness is negative for the profitability of Islamic banks. Moreover, trade and financial openness affect Islamic banks differently than conventional banks. No…

A bibliometric review of cryptocurrencies as a financial asset

Within a decade, cryptocurrencies have captured significant attention. After Bitcoin's emergence in 2008, new cryptocurrencies started to enter the financial market. We use bibliometric analysis to...

Greenfield FDI attractiveness index: a machine learning approach

Purpose This study aims to propose a comprehensive greenfield foreign direct investment (FDI) attractiveness index using exploratory factor analysis and automated machine learning (AML). We offer offer a robust empirical measurement of location-choice factors identified in the FDI literature through a novel method and provide a tool for assessing the countries' investment potential. Design/methodology/approach Based on five conceptual key sub-domains of FDI, We collected quantitative indicators in several databases with annual data ranging from 2006 to 2019. This study first run a factor analysis to identify the most important features. It then uses AML to assess the relative importance of…

Bibliometric review on FDI attractiveness factors