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Unformatted text preview: 䜀氀 漀戀愀氀   䈀甀猀 椀 渀攀 猀 猀   愀渀搀  䴀愀渀愀最攀 洀攀 渀琀   刀攀 猀 攀 愀爀 挀 栀  猀 䄀渀  䤀 渀琀 攀 爀 渀愀琀 椀 漀渀愀氀   䨀漀甀爀 渀愀氀 䜀甀 攀 猀 琀   䔀搀 椀 琀 漀 爀 㨀 䐀爀 ⸀   吀稀 攀 ⴀ 䠀愀 眀  䌀䠀䄀一 䜀爀 愀 搀 甀 愀 琀 攀   匀 挀 栀 漀 漀 氀   漀 昀   䈀甀 猀 椀 渀 攀 猀 猀 唀渀 椀 瘀 攀 爀 猀 椀 琀 椀   匀 愀 椀 渀 猀   䴀愀 氀 愀 礀 猀 椀 愀   ⠀ 唀匀 䴀⤀ 倀攀 渀 愀 渀 最 Ⰰ   䴀愀 氀 愀 礀 猀 椀 愀 嘀漀氀 ⸀   㤀  一漀⸀   㐀猀 匀瀀攀 挀 椀 愀 氀   䤀 猀 猀 甀攀   ㈀ ㄀㜀 䤀 匀匀一㨀   ㄀ 㤀 㐀 㜀 ⴀ 㔀 㘀 㘀 㜀 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) List of Articles: The Analysis of Islamic Banks Websites and Reports Regarding the Effectiveness of Their Corporate Citizenship and Community Development Md Shamim Hossain, Sofri B Yahya 1-12 An Empirical Study on Acceptance of Telecare Health Services in Malaysia Suzari Abdul Rahim, Parimala Nair A/P Gopalan, Nor Aida Abdul Rahman 13-28 Export Pricing Towards Developing Countries: A Proposed Model in the MNEs context— Evidence from Malaysia Mahmoud Ata Al-Tawalbeh, Shaizatulaqma Kamalul Ariffin, Zurina Mohaidin 29-40 An Empirical Analysis of the Perceived Skills in Predicting Managerial Effectiveness: The Malaysian Perspective Rajendran Muthuveloo, Kang Chia Chiek, Teoh Ai Ping 41-59 Crisis Management, Crisis Communication, and Consumer Purchase Intention Post-crisis Farhana Mansor, Noor Nasir KaderAli 60-79 Determinants of Future Entrepreneurship and Entrepreneurial Intention Fatema Johara, Sofri Bin Yahya, Shehnaz Tehseen 80-95 The Role of Board Diversity on Materiality Disclosure in Sustainability Reporting Ngu Sie Bing, Azlan Amran 96-109 Foreign Exchange Rate, Interest Rate, Inflation Rate and Economic Growth in Malaysia Yan Wah Low, Tze-Haw Chan 110-127 Green Purchase Intention of Laundry Detergent Powder in Presence of Eco-Friendly Brand Salmi Mohd Isa, Chew Kun Lim, Phaik Nie Chin 128-143 Corporate Risk Management Disclosure and Corporate Sustainability: The Role of Diversification Fathyah Hashim, Lee Tian Koon 144-158 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) Corporate Governance and Sustainability Reporting Practices: The Moderating Role of Internal Audit Function Yuvaraj Ganesan, Yew Wei Hwa, Amar Hisham Jaaffar, Fathyah Hashim 159-179 Tourism Demand among International Students: Implications on Penang Tourism Industry Chang Ee Ling, Christopher Richardson 180-192 Professional Identity Formation in Globalization Era: Case of Malaysian Novice Teachers Norfarah Nordin, Mohd Ali Samsudin 193-205 Impacts of Foreign Currency Exposure on Malaysia’s Firm Value: Firm Value, Hedging and Corporate Governance Perspectives Roselene Yam Sou Cheng, Ei Yet Chu, Saw Imm Song, Tian So Lai 206-220 Consumer Purchase Intention Toward Online Grocery Shopping: View from Malaysia Siew-Lee Chin, Yen-Nee Goh 221-238 The Impact of Value Co-creation on Service Supply Chain Performance: A Proposed Conceptual Framework Jaludin Janteng, Cheng Ling Tan, Yudi Fernando 239-249 Defining and Measuring Strategic CSR: A Formative Construct Say Keat Ooi, Azlan Amran, Jasmine A.L. Yeap 250-265 An Investigation On Residential Solar Power Systems (SPS) Install Intention: View from an Emerging Market Pui-Pui Thong, Yen-Nee Goh, Cheng-Ling Tan, Shaizatulaqma Kamalul Ariffin 266-280 A Study of Factors influencing Consumer’s Purchase Intention toward Green Vehicles: Evidence from Malaysia Ng Lee Yong, Shaizatulaqma Kamalul Ariffin, Goh Yen Nee, Nabsiah Abdul Wahid 281-297 The Effects of National Culture, Corporate Governance and CSR Governance on CSR Disclosure Quality Wang Zi Jian, Amar Hisham Jaaffar, Say Keat Ooi, Azlan Amran 298-314 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) Student Satisfaction and Loyalty in Malaysia Private Higher Education Institutions Jia-Haur Goh, Yen-Nee Goh, T. Ramayah 315-327 Factors Influencing Malaysian Consumers’ Intention to Purchase Green Energy: The Case of Solar Panel Nik Salehah Nik Abdul Aziz, Nabsiah Abdul Wahid, Methaq Ahmed Sallam, Shaizatulaqma Kamarul Ariffin 328-346 Consumer Responses towards Corporate Social Responsibility Electronic Brands in Malaysia Salmi Mohd Isa, Kiong Lee Lu, Shaian Kiumarsi 347-360 Factors Causing Female Inequality in Malaysian Organisations: A Conceptual Model Malvinder Kaur, Junaimah Jauhar, Zurina Mohaidin 361-373 Examining Residents’ Receptiveness towards E-waste Recycling in Penang, Malaysia Chee Hui Tan, T. Ramayah, Jasmine A.L. Yeap, Say Keat Ooi 374-390 Do Small and Medium Practitioners’ (SMPs’) Service Quality and Non-Audit Service Fees Paid Matters’? The Mediating Role of Satisfaction of Small Medium Enterprises (SMEs) Yuvaraj Ganesan, Hasnah Haron, Ishak Ismail, Anwar Allah Pitchay 391-408 Factors Influencing Poor Experience Quality in 2-To- 5-Star Hotels: A Content Analysis of Guest Reviews on Trip Advisor Poh Wai Choo, Cheng Ling Tan 409-425 The Impact of Reward and Transformational Leadership on the Intention to Quit of Generation Y Employees in Oil and Gas Industry: Moderating Role of Job Satisfaction Junaimah Jauhar, Chan Soo Ting, Noor Fareen Abdul Rahim 426-441 Antecedents of Behavioural Intention to Adopt Internet of Things in the Context of Smart City in Malaysia Gan Wee Leong, Teoh Ai Ping, Rajendran Muthuveloo 442-456 Perceived Importance and Readiness of Green HRM in Malaysian Financial Services Industry Say Keat Ooi, Azlan Amran, Simin Goh, Mehran Nejati 457-474 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) The Analysis of Islamic Banks Websites and Reports Regarding the Effectiveness of Their Corporate Citizenship and Community Development Md Shamim Hossain* Graduate School of Business, Universiti Sains Malaysia, 11800, Pulau Pinang, Malaysia Email: [email protected] Sofri B Yahya Graduate School of Business, Universiti Sains Malaysia, 11800, Pulau Pinang, Malaysia *Corresponding author Abstract Purpose – The present study attempts to justify the evidence and strengthen the argument on the community development activities and responsibilities of Islamic Banks in Bangladesh by studying the phenomenon among all the Islamic banks. Website and annual reports content will be analysed in order to understand the phenomenon Design/Methodology/Approach – The study has been rooted in previous studies and measured an appropriate method for analysis of qualitative data. In addition, the study uses a content analysis methodology to analyze objectively and systematically the websites and annual reports of the Islamic banks Bangladesh. Findings – This study indicate that all the Islamic banks in Bangladesh are engaged in community development; at least they proclaim this in their websites and annual reports. Nevertheless, there are variance in their behaviour and contradictions within these reports. Further, the results also portrait that, mainly the Islamic banks in Bangladesh have protected areas of accountability, transparency, ethical behaviour, fair operating practices, human rights, development of community and safety and environment according to their annual reports and websites. Originality/value – This study builds on the estimated new community development behaviours through annual reports website content analysis of Islamic banks in Bangladesh. Keywords: corporate community development, Islamic banking, websites, annual reports. Introduction There has been growing interest in community development of the corporations during the past two decades in Bangladesh (Hossain & Yahya, 2017). Business corporations do not operate in a vacuum, but rather through their processes impact the environment that include the corporate stakeholders, community, and other affected actors. Scholars argue that addressing the issues related to community development in Bangladesh affects everyone in some capacity. In spite of the source of the issues or problems arising from corporate exercises related to community development, everyone should take responsibility in some way or another in resolving them as the consequences of these problems affect, either directly or indirectly, everyone. Generally, the community, as a whole, is ethically bound not only to ensure their well-being but also of the future 1 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) generation. Therefore, the community has the responsibility to ensure that corporate exercises related to community development do take into account the interest of the future generation—that burden of responsibility should also be applied to financial institutions (Helleiner, 2009). Banks, in particular, play a critical role in an economy with their contribution to the well-being of the community and when they fail, their failure have severe repercussion on the community causing much hardship (Cooper et al., 2015; Johnson & Greening, 1999; Roseland, 2000). Islamic banking, generally, have undertaken community development activities that are of great advantage to the community (Mohammed, 2007). Islamic banks, as corporations are in the position of creating an enriched community with their CCD activities (Bauman & Skitka, 2012; Néron & Norman, 2008; Schur, Kruse, & Blanck, 2005). Their CCD activities have a cascading effect— they have brought awareness of CCD to other organizations within the community who had benefited from these CCD activities. Research indicates that that several banks have incorporated community development in their Key Performance Indicators (KPI). Nevertheless, it must be noted that the community development initiatives by the Islamic banks in Bangladesh are merely voluntary, lacking any legislation in Bangladesh mandating community development by these banks. There are no previous significant findings to establish the extent these KPIs related to CCD activities were achieved. Hence, this study shall ascertain the extent the Islamic Shariah based banks in Bangladesh are involved with CCD activities by analysing their website and annual report content, thereby attempting to draw the CCD status among Islamic banks in Bangladesh. Corporate Community Development In recent years, there have been many positive developments concerning issues related to CCD (Banks et al., 2011). A number of premises, and theories have been developed on CCD (Banks, Kuir-Ayius, Kombako, & Sagir, 2013; Hughes, 1988; Winner, 2003). CCD has been generally been defined as a process that increases the selection of choices that creates an environment where persons can implement their full potential to lead creative, and innovative lives (Shaffer, 2006). Figure 1: ISO 26000 : Guidance on Social Responsibility, 2012 Source: (Secretary, 2012) Biggs, Phillipson, Money, & Leach, (2006) denoted that community development is a process where persons in a community together with those of governmental authorities develop the financial, communal and cultural situations of communities and societies, which are then integrated into the state of living giving rise to national progress. Sanders, (2008) saw community 2 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) development as a practice moving from phase to phase; a process of functioning towards a purpose; activities of dealings and as a process of improving people’s well-being and principles. This is particularly so true for banks whose involvement in economic and well-being of society is highly significant. To achieve the objective of this study, that is, to examine the commitment of Islamic banks of Bangladesh to CCD, the core standards as identified in ISO CCD (ISO/DIS 26000, 2012) will be used to assess the extent of these commitment. Accountability (ISO/DIS 26000, 2012) Accountability gives confidence to the public of those who operate the business as they are held accountable for their actions. It suggests an Islamic bank’s culture where accountability is practiced and there is commitment to upholding the laws. Such instances, include effective use of financial, natural and human resources as well as settling of taxes to the government bodies while ensuring fair representation of historically under-represented groups in higher positions in the institute (O’Dwyer & Unerman, 2010). Transparency (ISO/DIS 26000, 2012) In regards to the transparency principle, the Islamic banks should be transparent in their judgment and activities that affect the society and the environment (High Commission of Canada & Reed Consulting BD ltd, 2013). Activities should be appropriate and factual, and be offered in a clear and goal oriented manner so as to allow stakeholders to accurately measure the impact that the Islamic bank's decisions and actions have on their particular interests. Transparency is a fundamental standard in the implementation of a CCD plan, however, the major issue in the implementation of this standard is how a transparent strategy ought to be structured in order to improve the CCD behaviour of corporations (Dubbink, Graafland, & Van Liedekerke, 2008). Ethical behaviour (ISO/DIS 26000, 2012) Ethical behaviour requires an organization to behave ethically at all time. Hence Islamic banks’ behaviour must be based on the values of honesty, sincerity, equity and integrity. The dealing of all stakeholders should be geared to the eventual purpose of an ethical organization (Fassin, 2005). The business organization’s end objective is either to avoid legal consequences of its measures or to persuade the stakeholders that the corporation does have their best interests at heart and seeks to serve their interests rather than their own (Joyner & Payne, 2002). In so far as the Islamic banking ethical culture is concerned, it should align with the core values of community. These values involve a concern for people, natures and the environment and an obligation to address the impact of its activities and assessments on stakeholders' interests. Environment (ISO/DIS 26000, 2012) Since the 1960s, human activity has changed ecosystems more rapidly and extensively than in any comparable period in history. Hence, environmental responsible practices are generally seen as part of CCD practices in the Islamic banking sector of Bangladesh. In recent years, Islamic banks of Bangladesh have undertaken remarkable steps in several sectors, including resource saving, financing green initiatives, valuing and protecting biodiversity, protecting and restoring ecosystem services, using land and natural resource sustainably, and, advancing environmentally sound urban and rural development. However, only 11 percent of these banks have separate funds to support such environmental activities (Khan, Islam, & Ahmed, 2010). 3 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) Fair operating practices (ISO/DIS 26000, 2012) Fair operating practice matters arise in the areas of anti-corruption, responsible attachment in the public sphere, fair competition, socially accountable behaviour, relations with other organizations and admiration for property rights. In respect to Islamic banks, fair operating practices concerns with ethical conducts between banks, and between these banks and government agencies, as well as between banks and their partners, customers, competitors, and the associations of which they are members of. The CCD activities by the Islamic banks incorporate fair operating practices in several areas: employee management relations, customer -customer relations, environmental practice, community and social attachment, and transparency in commerce activity (Mijatovic & Stokic, 2010). Human rights (ISO/DIS 26000, 2012) According to the High Commission of Canada & Reed Consulting BD ltd, (2013) “Human rights” refers to polite treatment of all individuals, in spite of any of their individual characteristics, just because they are human beings”. As such, Islamic bank should respect human rights and recognize both their importance and their universality. In Bangladesh, Islamic banks undoubtedly promote human rights, especially in their social investment initiatives in education, healthcare, empowerment, and poverty alleviation as these activities forms the basis of fundamental rights of an individual. Development of community and safety (ISO/DIS 26000, 2012) Development of community and safety is a very significant issue in global era. Competitive and diverse enterprises and co-operatives are crucial in creating wealth in any community. Islamic banks can help to generate an environment in which entrepreneurship can flourish, bringing lasting benefits to communities. Islamic banks can contribute positively to wealth and earnings creation through entrepreneurship agendas, development of local suppliers, and employment of community members, as well as through wider efforts to strengthen economic resources and social relations that facilitate economic and social welfare or generate community benefits. CCD in Islamic banks in Bangladesh The notion of CCD has advanced during the last two decades. Initially, the big organizations were the advocates and implementers of CCD. However, as the scope of definition widened, the small and medium corporations got involved with CCD. The rising importance of CCD is motivated by stakeholders, think tanks, investors, managers, beneficiaries, and even workers. Thus, corporations are being monitored based on their responsible manner of involvement in CCD activities, which is demonstrated in their transparent and accountable conducts. In the study ‘CCD and its role in Community Development’, (Ismail, 2009; Ismail, Alias, & Rasdi, 2015) maintained that the fundamental principle of social responsibility is the community convention between all the stakeholders to community, which is necessary obligation of social culture. According to them, community development is not restricted to the existing members of the community, but should also be extended to its prospective members, as well as to situations that would have relevance to the members of community, both present and in the prospect. The character of CCD in community development used in their paper is rather straightforward, that is, the benefits received by the 4 Global Business and Management Research: An International Journal Vol. 9, No. 4s (2017, Special Issue) society as a result of community assurance of organizations to the overall society and community structure. The general functions of CCD in community development are considered as follows: To share the adverse consequences of outcomes of organizational decisions. This is related to encouraging more ethical dealing practices. Fortify the ties between the organizations and community. By doing so, the organizations and community would work in peace and harmony. Encourage employee ownership in an organization that would lead to the development of the organization as an important financial asset in the community. Corporate Social Responsibility (CSR) facilitates the defending of the environment. CSR activities gives advantage to society and community in protecting the latter’s privileges towards obtaining a healthy environment. Social Responsibility provides for human right business sustainability. The United Nations has initiated the “Global Compact”—an idea to encourage global corporations to follow the general norms in relation to safety of human rights To secure connection between an organization and community is another feature of CSR’s role in community development as it creates sustainability in the long run. Community development agenda can be seen as assistance to alleviate poverty. Sustainable Business Practices (SBP) symbolizes a continuing commitment by organizations to improving the quality of life of the community and society at large. The enhancement of community through the design of employment prospects and fair operating practices. In the context of Islamic banks in Bangladesh, previous study ...
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