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Shahimi, Shahida
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Economics, Econometrics & Finance

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AN EMPIRICAL INVESTIGATION OF CONSUMPTION BEHAVIOUR IN SELECTED OIC COUNTRIES Shaikh, Salman Ahmed; Ismail, Mohd Adib; Ismail, Abdul Ghafar; Shahimi, Shahida; Mohd. Shafiai, Muhammad Hakimi
Journal of Islamic Monetary Economics and Finance Vol 4 No 1 (2018)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (382.889 KB) | DOI: 10.21098/jimf.v4i1.785

Abstract

This study examines the consumption behaviour in Organization of Islamic Cooperation (OIC) countries. It presents empirical evidence on rational expectations permanent income hypothesis (RE-PIH) and tests whether the phenomena of myopia, liquidity constraints or loss aversion impede forward-looking consumption behaviour. It also attempts to measure the intertemporal elasticity of substitution. The empirical evidence defies the existence of consumption smoothing phenomena as postulated in RE-PIH. The results support loss aversion. The response of consumption to unexpected income changes is statistically significant in only one-third of the countries. In contrast, the response of consumption to expected income changes is statistically as well as economically significant in as many countries. The intertemporal elasticity of substitution is also statistically insignificant in most of the countries and the elasticity is generally not positive. For the Islamic finance industry, the results help in explaining the low penetration of equity-based risk sharing instruments. From the policy perspective, the excess sensitivity of consumption to income suggests that redistribution efforts to enhance incomes of poor could help in enhancing their consumption levels.
ETHICS IN FOCUS: A BIBLIOMETRIC AND CONTENT ANALYSIS OF ISLAMIC BANKING AND FINANCE RESEARCH Zahari, Siti Aisyah; Shahimi, Shahida; Alma’amun, Suhaili; Ismail, Abdul Ghafar
Journal of Islamic Monetary Economics and Finance Vol 10 No 2 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i2.1992

Abstract

This study performs a bibliometric analysis of the literature on ethics in Islamic banking and finance (IBF) in the Scopus database. A total of 366 scholarly articles pertaining to the subject of ethics in IBF are analyzed using VOSviewer, Wordstats, Harzing’s Publish or Perish and Microsoft Excel. The development of the literature on ethics in IBF is outlined in this study, along with a list of the most significant authors, as well as relevant nations, groups, and journal sources. Moreover, the study identifies six major clusters namely, corporate image and customer loyalty of IBF, ethical decision making in IBF, Islamic work ethics, IBF standards and supervisory, ethical products and services of IBF, and maqasid al-shariah and IBF. The findings show an increasing number of citations and documents related to ethics in IBF whereby, the journal of "International Journal of Islamic and Middle Eastern Finance and Management" makes a substantial contribution to the field of ethics in IBF, both in terms of number of articles published and citation counts. The study offers the opportunity for future research to focus on these topics. Acknowledgment This paper is part of the research funded by the Faculty of Economics and Management, Universiti Kebangsaan Malaysia under Geran Inisiatif Penyelidikan (EP-2023-016) entitled "The Policy Framework of Ethical Banking for Malaysian Financial Institutions". We would also like to express our gratitude to the participants and discussants of The 9th International Islamic Monetary Economics and Finance Conference (9th IIMEFC), held on 25th October 2023, who provided valuable insights that significantly contributed to the improvement of the paper.
AN EMPIRICAL INVESTIGATION OF CONSUMPTION BEHAVIOUR IN SELECTED OIC COUNTRIES Shaikh, Salman Ahmed; Ismail, Mohd Adib; Ismail, Abdul Ghafar; Shahimi, Shahida; Mohd. Shafiai, Muhammad Hakimi
Journal of Islamic Monetary Economics and Finance Vol. 4 No. 1 (2018)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v4i1.785

Abstract

This study examines the consumption behaviour in Organization of Islamic Cooperation (OIC) countries. It presents empirical evidence on rational expectations permanent income hypothesis (RE-PIH) and tests whether the phenomena of myopia, liquidity constraints or loss aversion impede forward-looking consumption behaviour. It also attempts to measure the intertemporal elasticity of substitution. The empirical evidence defies the existence of consumption smoothing phenomena as postulated in RE-PIH. The results support loss aversion. The response of consumption to unexpected income changes is statistically significant in only one-third of the countries. In contrast, the response of consumption to expected income changes is statistically as well as economically significant in as many countries. The intertemporal elasticity of substitution is also statistically insignificant in most of the countries and the elasticity is generally not positive. For the Islamic finance industry, the results help in explaining the low penetration of equity-based risk sharing instruments. From the policy perspective, the excess sensitivity of consumption to income suggests that redistribution efforts to enhance incomes of poor could help in enhancing their consumption levels.
ETHICS IN FOCUS: A BIBLIOMETRIC AND CONTENT ANALYSIS OF ISLAMIC BANKING AND FINANCE RESEARCH Zahari, Siti Aisyah; Shahimi, Shahida; Alma’amun, Suhaili; Ismail, Abdul Ghafar
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 2 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i2.1992

Abstract

This study performs a bibliometric analysis of the literature on ethics in Islamic banking and finance (IBF) in the Scopus database. A total of 366 scholarly articles pertaining to the subject of ethics in IBF are analyzed using VOSviewer, Wordstats, Harzing’s Publish or Perish and Microsoft Excel. The development of the literature on ethics in IBF is outlined in this study, along with a list of the most significant authors, as well as relevant nations, groups, and journal sources. Moreover, the study identifies six major clusters namely, corporate image and customer loyalty of IBF, ethical decision making in IBF, Islamic work ethics, IBF standards and supervisory, ethical products and services of IBF, and maqasid al-shariah and IBF. The findings show an increasing number of citations and documents related to ethics in IBF whereby, the journal of "International Journal of Islamic and Middle Eastern Finance and Management" makes a substantial contribution to the field of ethics in IBF, both in terms of number of articles published and citation counts. The study offers the opportunity for future research to focus on these topics. Acknowledgment This paper is part of the research funded by the Faculty of Economics and Management, Universiti Kebangsaan Malaysia under Geran Inisiatif Penyelidikan (EP-2023-016) entitled "The Policy Framework of Ethical Banking for Malaysian Financial Institutions". We would also like to express our gratitude to the participants and discussants of The 9th International Islamic Monetary Economics and Finance Conference (9th IIMEFC), held on 25th October 2023, who provided valuable insights that significantly contributed to the improvement of the paper.
Co-Authors Abdul Ghafar Ismail Alma’amun, Suhaili Ismail, Mohd Adib Mohd. Shafiai, Muhammad Hakimi Shaikh, Salman Ahmed Zahari, Siti Aisyah