As international trade and business opportunities grow globally, insight into trading partners’ strategies is essential. One of the major strategies that impact trading partners’ relationships is negotiation strategy employed by each partner. These strategies assume even greater importance when these strategies have ethical content. This study examines the effects of marketing executives’ preferred ethical ideologies, opportunism and Machiavellianism on their perceived appropriateness of unethical negotiation tactics. Utilizing a sample of 995 marketing executives from six countries, cluster analysis and multivariate analysis (...) of variance revealed two types of marketing negotiators: principled and corrupt negotiators. Corrupt negotiators tend to be more Machiavellian, more relativist, more opportunistic and less idealistic than their principled counterparts. Principled negotiators tend to perceive unethical negotiation tactics less favorably than their corrupt counterparts. Implications of these results for practitioners and directions for future research are discussed. (shrink)

Sahih al-Bukhari, one of the most esteemed and widely studied collections of hadith by Muslims, has garnered significant attention in Indonesia. This paper delves into the history of Sahih al-Bukhari's study within the Indonesian context, examining its transmission lineage, vernacularization, and study methodologies in traditional and contemporary educational context. Three specific objectives were pursued: 1) the translation and vernacularization of Sahih al-Bukhari, 2) the transmission of Sahih al-Bukhari, with a focus on Indonesian pesantren (Islamic boarding schools), and 3) the analysis (...) of Sahih al-Bukhari study methods within Islamic colleges. Employing a historical method and an analytical approach, this research underscores the importance of translating and rendering Sahih al-Bukhari into vernacular languages as an initial step in making this revered text accessible. The study forms and institutions involved in Sahih al-Bukhari education were categorized into two primary streams: pesantren and Islamic higher education institutions. While pesantren encompass introductory courses, memorization programs, and more practical approaches, Islamic higher education institutions offer diverse and contemporary methods, including thematic, comparative, critical, living, and understanding studies. This study provides a comprehensive exploration of the multifaceted nature of Sahih al-Bukhari studies in Indonesia. By investigating its historical development, translation efforts, and the unique study methodologies within different educational settings, it sheds light on the diverse ways in which Sahih al-Bukhari is approached and understood in the Indonesian context. (shrink)

In this paper we relate the board's attributes to the firm's opacity as measured by the adverse selection component of the bid-ask spread. We find that larger boards and outside directors are associated with reduced opacity, especially in freestanding firms. However, directors' excess control is associated with a significant increase in firm's opacity. We also find that the presence of family pyramidal holding defuses any potential monitoring benefits of board attributes. Our findings suggest that the firm's ultimate ownership structure is (...) not neutral in determining the monitoring effectiveness of the board of directors. This might help explain existing mixed evidence on the monitoring role of the board of directors. (shrink)

Using a large sample of 3,040 U.S. firms and 16,606 firm-year observations over the 1991–2010 period, we find strong evidence that firm internationalization is positively related to the firm’s corporate social responsibility rating. This finding persists when we use alternative estimation methods, samples, and proxies for internationalization and when we address endogeneity concerns. We also provide evidence that the positive relation between internationalization and CSR rating holds for a large sample of firms from 44 countries. Finally, we offer novel evidence (...) that firms with extensive foreign subsidiaries in countries with well-functioning political and legal institutions have better CSR ratings. Our findings shed light on the role of internationalization in influencing multinational firms’ CSR activities in the U.S. and around the world. (shrink)

This study provides evidence on the relationship between corporate social responsibility and firms’ credit ratings. We find that credit rating agencies tend to award relatively high ratings to firms with good social performance. This pattern is robust to controlling for key firm characteristics as well as endogeneity between CSR and credit ratings. We also find that CSR strengths and concerns influence credit ratings and that the individual components of CSR that relate to primary stakeholder management matter most in explaining firms’ (...) creditworthiness. Overall, our results suggest that CSR performance conveys important non-financial information that rating agencies are likely to use in their evaluation of firms’ creditworthiness, and that CSR investments—particularly those that extend beyond compliance behavior to reflect what is desired by society—can lead to lower financing costs resulting from higher credit ratings. (shrink)

We provide new evidence that the prosocial attitudes of local residents play a significant role in determining a firm’s corporate social responsibility engagement. We show that firms are more likely to engage in CSR initiatives when they are headquartered in areas with large senior citizen populations and where a large fraction of the population makes charitable donations. In contrast, we find that firms are less likely to engage in CSR initiatives when they are headquartered in areas with large religiously affiliated (...) groups. After establishing the local demographic roots of CSR demand, we then examine the relationship between the firm’s CSR activities and its market valuation. Our results suggest that CSR initiatives create value when they are properly aligned with local residents’ prosocial attitudes. Overall, our study stresses the role of local residents’ CSR preferences in mediating the relationship between CSR and market valuations. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find that the effect of (...) CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

A unique dataset is exploited to provide insight into the impact of management quality practices on corporate social responsibility for a sample of US manufacturing firms. Our results suggest that MQPs are positively and significantly related to a firm’s CSR rating. This confirms that intangible assets affect corporate outcomes. We also show that superior MQPs matter more in explaining the CSR dimensions that are related directly to the firm’s primary stakeholders.

Este artículo pretende analizar el papel del mutašabbih en la vida activa del ribāṭ en el sufismo del período tardío de los ʻAbbasíes de Bagdad . Su fuente principal es el ʻAwārif al-maʼārif de Abū Ḥafṣ al-Suhrawardī. También se analizan otros conceptos y grupos, como la qalandariyya, los maŷḏūbs, el takalluf.

This study fills an important gap in the literature by providing causal evidence of the impact of relaxing financial constraints on corporate social responsibility (CSR). To isolate this causal link, we examine the enactment of anti-recharacterization laws in some U.S. states, an exogenous shock that has strengthened creditor rights and eased financial constraints of the treated firms. Our difference-in-difference analysis suggests that relaxing financial constraints leads to higher CSR. This evidence is more pronounced in financially constrained firms, firms with more (...) analyst dispersion and increased volatility of cash flows. We also find that the most impacted firms are those with increased post-shock debt financing. In sum, our evidence suggests that easing access to external finance drives corporate goodness, in particular in firms that value external financing. (shrink)

This study provides novel evidence of the impact of corporate social responsibility (CSR) on investment sensitivity to cash flows. We posit that CSR affects investment–cash flow sensitivity (ICFS) through information asymmetry and agency costs, commonly viewed as the two channels through which investment responds to the availability of internal cash flows. We find that CSR performance leads to a decrease in ICFS. We further find that ICFS decreases (increases) when CSR strengths (concerns) increase. Finally, we find that the effect of (...) CSR on ICFS is driven by the areas Community, Diversity, and Human Rights. In sum, the findings of this study stress the relevance of CSR—in particular, of CSR activities that extend beyond compliance behavior and reflect what is desired by society—in reducing market frictions and improving firms’ access to financial capital. (shrink)

The study examined the effect of celebrity attractiveness, celebrity trustworthiness, and celebrity cause fit on the attitude toward green cosmetics. This was followed by the effect of brand awareness, brand associations, brand loyalty, perceived quality, brand credibility on brand equity, including the impact of attitude toward green cosmetics and brand equity on the willingness to purchase green cosmetics among of young Chinese consumers. This study adopted a cross-sectional design and collected quantitative data from 301 respondents using a structured questionnaire, which (...) was distributed online using various social media platforms. It was found that celebrity attractiveness, celebrity trustworthiness, and celebrity cause-fit had a significant impact on the attitudes toward green cosmetic, while brand loyalty, perceived quality, and brand credibility substantially affected brand equity. Moreover, the attitudes toward green cosmetics and brand equity had a strong impact on the willingness to purchase green cosmetics. To increase the sales for green cosmetics, the advertisements for it should have appeal, trustworthiness, and cause-fit celebrities to improve consumers’ attitudes and willingness to purchase green cosmetics. Finding of this study provide a guideline for green cosmetic manufacturers, to direct their resources to enhance brand loyalty, credibility, and perceived quality of the product they produce by highlighting the difference between conventional and green cosmetics. (shrink)

The global progress empowers the development of new business and expansion of existing business. The availability of sufficient accounting professional are necessary to manage and document the business activities. However, youth are less inclined to purse accounting as profession to keep the progress of global and local economic development. The current study aimed to explore the formation of the intention to pursue Certified Professional Accountancy Qualification with factor of capabilities, career opportunities, job security with respect to the extended theory of (...) planned behavior, i.e., attitude, subjective norms and perceived behavioral control. The study adopted a cross-sectional design and collected quantitative data from a total of 339 accounting students from Malaysia using an online survey. The finding revealed that capabilities and career opportunities influenced the students’ intention to pursue CPAQ. Meanwhile, perceived behavioral control had significantly affect the students’ decision to pursue CPAQ, which is in line with the TPB. The study concentrated on the importance of these factors in influencing the students’ intention and decision to pursue CPAQ. The study offered vital implications for accounting educators and educational institutions to promote the accounting profession as choice and students engage in pursuing CPAQ. The Malaysian government should encourage and support accounting students financially for pursuing CPAQ by providing job security and enhancing subjective norms that may enable these students to complete the required professional qualifications. The study’s limitations and future research opportunities are documented at the end of this article. (shrink)

This study explored the effect of attitude towards entrepreneurship, need for achievement, risk-taking propensity, proactive personality, self-efficacy, opportunity recognition competency, entrepreneurship education, uncertainty avoidance, and entrepreneurial knowledge on entrepreneurial intention among university students in Malaysia. This quantitative study had adopted the cross-sectional design approach and involved 391 university students in Malaysia via the online survey. The study outcomes revealed that the NFA, PRP, and SLE significantly affect students’ attitudes towards entrepreneurship. Moreover, entrepreneurship education and UNA significantly affect ORC. Finally, ATE (...) has a positive and significant effect on ENIN among university students in Malaysia. As entrepreneurship offers an alternative career path for people seeking economic prosperity and addressing social issues, including unemployment, the government should formulate effective policies and regulations that support entrepreneurship activities. Universities and other institutions should play a pivotal role in providing the proper exposure via entrepreneurship education while honing the essential traits for a career in entrepreneurship. (shrink)

Sufism and Early Islamic Piety: Personal and Communal Dynamics. By Arin Shawkat Salamah-Qudsi. Cambridge: camBridge universiTy Press, 2019. Pp. xvii + 315. $99.99, £75 ; $80.

The debate on the Prophet’s parents’ (abawayn al-Rasūl) religious status and their position in the hereafter goes back to several narrations from the Prophet himself. This subject, which can principally be considered part of the problem of the religious status of ahl al-fatrah, seems to be raised by the Shīʿah as an issue of creed in line with their understanding of imamate. Abū Ḥanīfah’s (d. 150/767) statement in his al-Fiqh al-akbar that “Prophet’s parents passed away on kufr/jāhiliyyah” is seen as (...) a Sunnī reaction to this earlier position and led to a new area of discussion shaping the approach of several scholars to the issue. The earliest treatises dedicated to this issue are attributed to al-Ghazzālī (d. 505/1111) and Abū Bakr Ibn al-ʿArabī (d. 543/1148), but these works did not survive to this day. The earliest examples available today are the six epistles that al-Suyūṭī (d. 911/1505) penned. Literature on the Prophet’s parents flourished during the Ottoman times after the introduction of al-Fiqh al-akbar to the Ottoman scholarship. Starting with the first examples that belong to Ibrāhīm al-Ḥalabī (d. 956/1549), Ibn al-Khaṭīb al-Amāsī (d. 940/1534), and Kamālpashazādah (d. 940/1534), the treatises in question were mostly written in Arabic in the Ottoman scholarly milieu. Consequently, it seems that Rawḍat al-ṣafā fī wāliday al-Muṣṭafá is the first treatise dedicated to the issue in Ottoman Turkish. In the library catalogue records, some bio-bibliographical sources, and consequently in some modern studies on the issue of abawayn al-Rasūl, Rawḍat al-ṣafā wrongly attributed to a certain Wajdī Aḥmad Efendī (in Turkish: Vecdî Ahmed Efendi). This is probably due to the author’s presentation of himself in the introduction as just “Wajdī,” without making further description. Besides the data in Bursalı Meḥmed Ṭāhir’s Osmanlı Müʾellifleri, no more information could be provided about the identity of Wajdī Aḥmad Efendī who is shown as the author of the treatise. Intra-textual signs such as the author’s words about the reason and process of writing the work, the way he handled the subject and the evidence he put forward indicate that the treatise belongs to Nūḥ ibn Muṣṭafá al-Qūnawī (d. 1070/1660). Indeed, it overlaps with the fact that Nūḥ ibn Muṣṭafá presented himself as Wajdī in many of his other works. Seemingly the fact that Nūḥ ibn Muṣṭafá defends the view that the parents of the Prophet are among the people of salvation (ahl al-najāh), and while doing this, he was mainly based on the view that they were resurrected after death and that their souls are recaptured after they believed in the Prophet, stem from various reasons such as the view that attributed to Abū Ḥanīfah, Nūḥ’s Sufi identity to the extent that he was initiated to the Khalwatiyyah/Gulshaniyyah along with the ever-growing Sufi influences and the consequent idea of nūr-i Muḥammadī in the public sphere, the authority of the narrations attributed to the Prophet, and perception about the Prophet Muḥammed in the public imagination. (shrink)

The Remarks and Admonitions is one of the last works written by the Islamic philosopher Avicenna. Like his more familiar works, the Shifa' and the Najah, this work covers the entire scope of theoretical philosophy, with its first three parts being devoted to logic, physics, and metaphysics, respectively. Part Four of this work is unique, however, since it moves outside the confines of philosophy and takes up the topic of mysticism, employing concepts and terms familiar from the tradition of (...) Sufism. Following upon her excellent translation and study of the first part of this work over a decade ago, Shams Inati has here provided students of Islamic philosophy with another fine and readable translation of Part Four, together with an extensive introduction detailing the contents of the work and its parallels with other Avicennian texts. (shrink)

The Remarks and Admonitions is one of the last works written by the Islamic philosopher Avicenna. Like his more familiar works, the Shifa' and the Najah, this work covers the entire scope of theoretical philosophy, with its first three parts being devoted to logic, physics, and metaphysics, respectively. Part Four of this work is unique, however, since it moves outside the confines of philosophy and takes up the topic of mysticism, employing concepts and terms familiar from the tradition of (...) Sufism. Following upon her excellent translation and study of the first part of this work over a decade ago, Shams Inati has here provided students of Islamic philosophy with another fine and readable translation of Part Four, together with an extensive introduction detailing the contents of the work and its parallels with other Avicennian texts. (shrink)