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Recent Developments in Islamic Corporate Governance


Special issue call for papers from Managerial Finance

Guest Editors
M. Ishaq Bhatti, La Trobe University, Melbourne, Australia
Walid Mansour, Islamic Economics Institute, King Abdulaziz University, Saudi Arabia

Recent theoretical and practical developments in Islamic corporate governance (ICG) can be regarded as a testimony of the growing interest in optimizing financial performance, ICG supervisory measures, and regulatory devices in the Islamic finance industry according to Islamic financial principles. Various studies have been done in the area of ICG including theoretical work by Abdel-Baki and Sciabolazza (2013), Ginena (2013), Bhatti and Bhatti (2010), Archer and Karim (2012), Ginena (2014). King and Gavin (2016), Crane, Michenaud and Weston (2016) and excellent recent review by Ahmad and Omar (2016). Moreover, some empirical contributions are made by various authors including Bukhari et al. (2013), Farook, Hassan and Lanis, R. (2011), Grassa and Matoussi (2014), Abdullah, Percy and Stewart (2015) and Mollah and Zaman (2015) among others. These advancements in the area of ICG are encouraging to further explore the management related aspects of corporate governance in Islamic financial institutions and also in the field of  shariah-compliancy.

This special issue is aiming to make a distinguished contribution in the literature in threefold level: First, the conceptualization in the light of Quranic injunctions and Sunnah Hadiths can lead to specific (or revised) principles;  Second, the study of the interaction between ICG and competiveness of Islamic financial institutions (IFIs) and shariah-compliant corporations is a distinguished aspect; and third, the ICG structure (particularly for IFIs) – stemming from shariah supervisory boards and internal control devices – must support financial performance through innovative product development.

 Coverage includes:
I. Corporate governance in Western and Muslim World:  a comparison
II. Optimization of financial performance in ICG
III. New ICG’s tools
IV. Conceptualization in the light of Quranic and Sunnah
V. How can ICG benefit competiveness of IFIs?
VI. ICG and supervisory/control devices.

Submissions:
Papers should be submitted electronically online via the Managerial Finance submission system at http://mc.manuscriptcentral.com/mf. Please follow the journal submission guidelines and specify that the manuscript is for this special issue, “Recent Developments in Islamic Corporate Governance” in the submission process.
While the submission deadline is 31 May 2017, authors are encouraged to submit their manuscripts early. Editorial decisions may be made accordingly well before the submission deadline. All submissions will be subject to double blind peer review by referees. For additional information, please contact M. Ishaq Bhatti at [email protected] and Walid Mansour at [email protected]
 
References:
Abdel-Baki and Sciabolazza, M. (2014). "A consensus-based corporate governance paradigm for Islamic banks", Qualitative Research in Financial Markets, Vol. 6 Iss: 1, pp.93 – 108.
Abdullah, W. A. W., Percy, M., & Stewart, J. (2015). Determinants of voluntary corporate governance disclosure: Evidence from Islamic banks in the Southeast Asian and the Gulf Cooperation Council regions. Journal of Contemporary Accounting & Economics, 11(3), 262-279.
Ahmad, S., & Omar, R. (2016). Basic corporate governance models: a systematic review. International Journal of Law and Management, 58(1), 73-107.
Ahmad, S., & Omar, R. (2016). Basic corporate governance models: a systematic review. International Journal of Law and Management, 58(1), 73-107.
Archer, S., & Karim, R. A. A. (2012). The structure, regulation and supervision of Islamic banks. Journal of Banking Regulation, 13(3), 228-240.
Bhatti, M and Bhatti, I. (2010). Toward Understanding Islamic Corporate Governance Issues in Islamic Finance. Asian Politics and Policy, Vol. 2, Iss: 2, pp. 25–38.
Bukhari, K S., Awan, H.M,  and Ahmed, F. (2013). "An evaluation of corporate governance practices of Islamic banks versus Islamic bank windows of conventional banks: A case of Pakistan", Management Research Review, Vol. 36 Iss: 4, pp.400 – 416.
Crane, A. D., Michenaud, S., & Weston, J. P. (2016). The effect of institutional ownership on payout policy: Evidence from index thresholds. Review of Financial Studies, hhw012.
Farook, S., Kabir Hassan, M., & Lanis, R. (2011). Determinants of corporate social responsibility disclosure: The case of Islamic banks. Journal of Islamic Accounting and Business Research, 2(2), 114-141.
Ginena, K. (2014). "Shar?‘ah risk and corporate governance of Islamic banks", Corporate Governance, Vol. 14 Iss: 1, pp.86 – 103.
Grassa, R., & Matoussi, H. (2014). Corporate governance of Islamic banks: A comparative study between GCC and Southeast Asia countries. International Journal of Islamic and Middle Eastern Finance and Management, 7(3), 346-362.
King, J., & Gavin, J. (2016). A FINANCIAL INSTITUTIONS. World Banking Abstracts, 33(3), 161.
Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks. Journal of Banking & Finance, 58, 418-435.