Books & Monographs by Md. Mahmudul Alam
Harvesting Giant Freshwater Prawn, Golda (Macrobrachium rosenbergii de Man 1879) in the Sundarnba... more Harvesting Giant Freshwater Prawn, Golda (Macrobrachium rosenbergii de Man 1879) in the Sundarnbans mangrove forest plays an important role in the economy of the country as well as the livelihood of local community. The study focused the economic assessment of small-scale artisanal Golda fishery. Overall the Hookline gear showed the best performance in terms of economic return. However, it was found to withstand a shock from 20% decrease in market prices or 30% fall in catch rate in terms of Return on investment, payback period and Benefit-cost ratio. Operating cost and fixed cost for Hookline fishery was the lowest and Khathijal was the highest. No significant variation (P<0.05) observed in the mean catch rate per trip boat-1 among the gears studied. Total revenue earned after completion a trip varied considerably between BDT 1,307 to 1,562. Yearly, total net revenue reached at the maximum by Hookline (BDT 38,506), followed by Chandijal (BDT 38,377) and the minimum by Khalpata (BDT 33,885). The findings of this study are supposed to be helpful for policy makers in improving the current status of Golda fishery and relevant human livelihood as well as conserving the Sundarbans Mangrove Ecosystem.
Predicting the sustainability of a business is crucial to prevent financial losses among sharehol... more Predicting the sustainability of a business is crucial to prevent financial losses among shareholders and investors. This study attempts to evaluate the Altman model for predicting corporate failure in distressed and non-distressed Malaysian companies based on the data of financially troubled companies which are classified as Practice Note 17 (PN17) and matching similar non-PN17 companies during the period 2013 to 2017. This study utilizes panel ordinal and panel random effects regressions. Findings show that the liquidity, profitability, leverage, solvency, and efficiency ratios are negatively significantly associated with corporate failure and bankruptcy. The leverage ratio is determined to be the strongest indicator of bankruptcy, followed by profitability, liquidity, solvency, and efficiency ratios. The findings will help companies' management bodies implement suitable strategies to prevent further financial leakage, thereby ensuring continuous and sustainable return on investment and profits for investors and shareholders.
Publication Centre at Universiti Malaysia Perlis: Perlis, Malaysia and …, 2013
Development Issues, Policies and Actions are intended as a book of readings on development for th... more Development Issues, Policies and Actions are intended as a book of readings on development for the general readers and for the undergraduate and graduate students of development as a supplement to the textbook on economic development. It is written with materials mostly taken from our recent research works on current development issues and policy actions in Malaysia and Bangladesh. As a result, we believe that the intended readers and students will find the materials fairly known and easier to read and comprehend.
To make the book more reader-friendly, we provided a comprehensive summary at the end of each essay. Readers who are time pressed but want to know the basic contents and the key messages of the essays at the shortest time at hand, can do so by reading the summaries of the essays.
An additional and special feature of this book is that it emphasizes on the holistic and ethical aspects of development. This aspect is least covered by most standard textbooks on the subject. In that sense this book will serve as a make up for the deficiencies of the text book materials in terms of ethical orientation, essence, and higher goals of development.
We gratefully acknowledge the generosity of the publishers and authors of all the research works from where the materials have been compiled for use in this book. Similarly, we are profoundly thankful to all the scholars, particularly to Prof. Golam Dastagir of Jahangirnagar University, Dhaka, and Prof. Munir Quddus of Prairie View A&M University, Texas, for their critical comments on the draft of the book. Specially, we are profoundly thankful and grateful to Prof. Datuk Dr. Syed Othman Alhabshi for writing the scholarly foreword of this book. Finally, we remain thankful to Universiti Malaysia Perlis, Malaysia and the International Islamic University Chittagong, Bangladesh for jointly publishing this book.
The Authors
Dated: February, 2012
LAP LAMBERT Academic Publishing, Germany., 2013
There is no denying the fact that microcredit (MC) has been playing an important role in the move... more There is no denying the fact that microcredit (MC) has been playing an important role in the movement for poverty alleviation. But by the same breath it is also a hard fact that it has serious limitations in terms of its delivery system, rules of repayment, interest rate charges, etc. These limitations made it largely fail to realize its potential and expected goals. A credible study on the productivity of MC was required to determine its actual interest/profit paying capability. In the absence of any established economic justification, based on productivity, this exorbitantly high interest rate is found morally untenable and has become the primary target of criticism for its minimal or marginal achievements. As a result, recently the government rightfully fixed 27% as the maximum interest rate chargeable for microcredit (with effect from July 2011).
However, we need not undermine the importance and efforts of the microcredit movement, both as an economic as well as a social institution, for the betterment of the poor in the society. We need not be selfish and miser to give the movement its due credit. MC should not be summarily viewed as unuseful and unsuccessful. It has been making some contributions to the betterment of the poor and it should be given the appreciation it deserves. But like many other researchers we are troubled by the contradicting attitudes of the microcredit providers toward the borrowers. In one hand they are concerned and committed to pull the poor out of poverty, on the other hand they are so harsh in the timely payment of repayment installments putting a blind eye to the sufferings of these poor borrowers. Therefore, MCIs need to be more innovative to be able to serve and take care of the wellbeing of the critical group among the borrowers. We are also puzzled to see that in spite of the exorbitantly high interest rate charges and all other limitations, increasing number of these poor are borrowing credit from these MCIs. This surgical study on the inside view of microcredit in Bangladesh, using a rich data set developed through a survey of 555 sample borrowers from rural, semi-urban, and urban areas of all 7 administrative divisions of Bangladesh, is an effort to address these issues and find answers to these and other questions like its potentiality to become a growth tool in the third sector economy.
To our own best assessment this study made three major contributions to microcredit literature: a) application of economic-profit counting method in economic productivity analysis, b) identification of the critically vulnerable group among the borrowers; and c) the revelation that microcredit is respected by the borrowers more as a social than economic institution. To them, microcredit has facilitated their social and political empowerments and safeguarded their social status.
An additional feature of this monograph is that it includes a chapter reflecting on the status of Islamic microcredit in the country.
We are thankful to the sample micro borrowers for their sincere cooperation and responses in the operation of this research. We are equally thankful to the field investigators for their honest and untiring search for information. We are thankful to Professor Dr. Abu Bakr Rafique Ahmed, Pro Vice-Chancellor of International Islamic University Chittagong, Bangladesh for his most valuable suggestion to include in the book a separate chapter on Islamic microfinance. This chapter has certainly enhanced the focus of the monograph. Lastly we are grateful to Professor Dr. Anisuzzaman Chowdhury of University of Western Sydney, Australia, and Senior Economic Affairs Officer, Department of Economic and Social Affairs, United Nations, New York, for writing a thoughtful foreword to this work.
The authors
LAP Lambert Academic Publishing: Saarbrucken, Germany
There is no denying the fact that microcredit has been playing an important role in the movement ... more There is no denying the fact that microcredit has been playing an important role in the movement for poverty alleviation. But its serious limitations in terms of delivery system, rules of repayment, interest rate charges, etc are also undeniable. These limitations have made it unable to fully realize its goal and aspirations. A credible study like this was required to determine its economic & social productivity and actual interest paying capability. Applying the economic-profit counting method of analysis, it finds that for as many as 48% borrowers microcredit is not economically that productive to be able to pay so high interest. The study made three major contributions to literature: application of economic-profit counting method in economic productivity analysis, identification of the critically vulnerable group among the borrowers; and that borrowers regard microcredit more as a social than economic institution for facilitating and safeguarding their social and political empowerment.
“…this is an important contribution and should enhance our understanding of the impact of microfinance on poverty.” – Prof. Anisuzzaman Chowdhury, Senior Economic Affairs Officer, United Nations
Keywords: Grameen Bank, Microcredit, Microfinance, Microenterprise
Link: http://www.amazon.com/Inside-Story-Microcredit-Bangladesh-Investigation/dp/384659251X/
LAP Lambert Academic Publishing: Saarbrucken, Germany.
Micro-entrepreneurial activities play a pivotal role in rural economic development in the third w... more Micro-entrepreneurial activities play a pivotal role in rural economic development in the third world countries. As a result, in Bangladesh poverty alleviation through rural centric micro-entrepreneurship development has been focused for more than thirty five years. Over 600 registered and thousands unregistered microcredit organizations including globally prominent institutions like Grameen Bank, BRAC, ASA, BARD, ActionAid, CARE etc. are operating here with their own reputed models. However, the micro-entrepreneurship development and its achievements in the country are still lagging behind a satisfactory level due to a number of prevailing factors. This book examines its major achievements and shortcomings from the perspectives of the structured institutions, non-structured institutions, and non-institutional factors, and government’s policy guidelines influencing development of micro-entrepreneurship, and makes recommendations for overcoming the shortcomings.
KEY WORDS: microentrepreneurship, microenterprise, petty traders, poverty alleviation, MFIs, NGOs, microcredit
Link: http://www.amazon.com/Microentrepreneurship-Development-Bangladesh-Mahmudul-Alam/dp/3838330447/ref=sr_1_1?ie=UTF8&s=books&qid=1269706491&sr=1-1
LAP Lambert Academic Publishing: Saarbrucken, Germany.
The changing nature of climatic factor has adverse impacts on agricultural sustainability, food s... more The changing nature of climatic factor has adverse impacts on agricultural sustainability, food security, and socioeconomic sustainability in many countries. In Malaysia, due to the rapid changes in climatic conditions, agricultural productivity and profitability are expected to decline in the future leading to agricultural unsustainability. At the same time, the socioeconomic characteristics of the farmers are boldly changing. This empirical study investigates the vulnerability and impacts of climate change on agriculture, especially on paddy sector, and the socioeconomic status of the farmers, as well as their farming and livelihood adaptation approaches in Malaysia. Based on the findings, it provides policy recommendations and action plans for different stakeholders to adapt and cope with climate change properly. As this is also the common phenomenon for many countries, the governments, international organizations and other agencies involve in climate change issues will greatly benefit from the findings of the study.
KEY WORDS: Climate Change; Food security; Agricultural Sustainability; Socioeconomic Study; Adaptation; Agricultural Subsidy; Malaysia; Paddy Productivity; Poverty; Income Inequality
Link: http://www.amazon.com/Socioeconomic-Study-Climate-Change-Sustainability/dp/3838352106/ref=sr_1_2?ie=UTF8&s=books&qid=1273518455&sr=8-2
Refereed Journal Articles by Md. Mahmudul Alam
Journal of Risk and Financial Management, 2022
The net contribution of the decomposed measures of foreign direct investment (FDIs), e.g., the in... more The net contribution of the decomposed measures of foreign direct investment (FDIs), e.g., the inward and outward flows of FDIs, to domestic investment is still inconclusive in the case of underdeveloped and developing countries. The current literature bears testimony to this fact. Hence, this research examines the impact of inward and outward foreign direct investments (FDIs) on the domestic investment in Bangladesh. This study considers annual time series data from 1976 to 2019 and estimates this data property under the augmented ARDL approach to cointegration. In addition, this research employs the dynamic ARDL simulation technique in order to forecast the counterfactual shock of the regressors and their effects on the dependent variable. The results from the augmented ARDL method suggest that the inward FDI has a positive impact on domestic investment, while the outward FDI is inconsequential in both the long run and the short run. Besides, our estimated findings also show the economic growth's long-run and short-run favorable effects on domestic investment. At the same time, there is no significant impact of real interest rates and institutional quality on domestic investment in the long run or the short run in Bangladesh. In addition, the counterfactual shocks (10% positive and negative) to inward FDI positively impact domestic investment, indicating the crowding-in effect of the inward FDI on the domestic investment in Bangladesh. As the inward FDI flow is a significant determinant for sustained domestic investment in Bangladesh, the policy strategy must fuel the local firms by utilizing crossborder investment.
Journal of Entrepreneurship in Emerging Economies, 2022
Purpose: This research investigates the influence of creativity and resource availability on care... more Purpose: This research investigates the influence of creativity and resource availability on career competencies and career success of entrepreneurs in Nigeria using the Intelligent Career Framework.
Design/methodology/approach: Data was obtained using answers to questionnaires given to 348 successful entrepreneurs. The data was analysed using non-parametric software (Smart-PLS).
Finding: The results indicate that entrepreneurs who understand “know-why”, “know-how”, and “know-whom” can access the required resources and are doing well in their careers. It is suggested that these competencies were significantly related to entrepreneurial career success. Resource availability moderates the relationship of knowing-how, knowing-why competencies and career success, while creativity moderates only the link between knowing-whom and entrepreneurs having successful careers.
Research limitations/implications: The results help us to comprehend better the nature of successful entrepreneurial careers and the prominent role of tripartite competencies in achieving a successful career. Also emphasised here is the prominence of a more holistic perspective of these components based on a mix of social, motivational, and human capital.
Practical implications: These findings hinted that entrepreneur should pay uniform consideration in fostering each career competency. There are implications for career advisers, practitioners, and entrepreneurship programs.
Originality/value: This is a first-of-its-kind research that used primary source data in understanding career competencies - “knowing-how, knowing-whom, and knowing-why” - with entrepreneurs' career success in Nigeria.
Journal of Modelling in Management, 2022
Purpose – This paper aims to compare the perceptions of Islamic bank customers concerning FinTech... more Purpose – This paper aims to compare the perceptions of Islamic bank customers concerning FinTech services in Malaysia and Saudi Arabia. It also investigates the level to which customers are willing to adapt FinTech services.
Design/methodology/approach – Primary data were collected from May to September 2019 using a questionnaire to survey 102 Islamic bank customers in Malaysia, and 147 in Saudi Arabia.The data are analysed based on Structural Equation Modelling (SEM) using the partial least squares (PLS) approach.
Findings – The findings show that knowledge, attitude, and subjective norms are the highly significant determining factors that influence customers’ opinions on adapting to new technology, but awareness demonstrates only a moderately positive effect. Moreover, the impact of these factors on the intention to adopt FinTech services significantly differs between Malaysian and Saudi Arabian customers.
Originality/value – This is an original study based on primary data on customers of Islamic banking in Malaysia and Saudi Arabia. It provides some novel insights into how the Islamic banking industry can boost customers’ confidence and enhance their patronage by adopting FinTech in their business operation model. These findings should be of value to managers, policymakers, and regulators in the Islamic banking industry in both Muslim and non-Muslim countries.
Security Journal, 2022
The national security issues in particular non-traditional security issues such as law enforcemen... more The national security issues in particular non-traditional security issues such as law enforcement, health, food, supply chain management, industry etc. are severely impacted by the COVID-19 outbreak in all countries of the world. As such, the developing country like Indonesia has largely been suffering from this epidemic. In this context, this paper attempts to analyse some national security issues that are affecting Indonesia, which is currently struggling with the COVID-19 pandemic. Proposed here are policy measures to combat both present and future challenges. The study uses secondary data collected from different sources concerning COVID-19 pandemic and security issues of Indonesia. The study analyses the data based on descriptive statistics, highlighting the impact of the COVID-19 pandemic on Indonesian law enforcement issues, and security of health, food, supply chain management, industrial and other economic sectors. The study argues that if the vulnerability continues in these security-related issues due to pandemic, the country will face a harsh reality to manage the state-affairs. Therefore, the policy options are mainly concerned with the COVID-19 issue. Indonesia's government should identify what measures to take by conducting rapid diagnostics (RPD) and polymerase chain reaction (PCR) tests in the laboratory, respectively. Moreover, the government and relevant stakeholders need to develop strategies that break the stranglehold of COVID-19 transmission in order to resolve Indonesian national security concern.
Cogent Business & Management, 2022
Environmental, Social and Governance (ESG) ratings are widely recognised methods to assess the su... more Environmental, Social and Governance (ESG) ratings are widely recognised methods to assess the sustainability practices of corporations. However, the scores of these ratings are not satisfactory in emerging market economies. This study examines the financial factors that influence ESG ratings regarding public listed companies on the FTSE4 Good Bursa Malaysia Index (F4GBM Index). This paper uses static and dynamic Generalized Method of Moments (GMM) techniques to analyse the data of 31 public listed companies on the F4GBM Index and reported full ESG ratings data for the period 2007-2016. To utilise the maximum number of observations by avoiding the missing data and outlier due to COVID-19, this study applied the sample data up to 2016. Using the two-step system dynamic GMM estimator, such results indicate that highly profitable Malaysian companies enjoy a higher score for ESG overall ratings as well as all three individual ratings. Poorer credit management diminishes the environmental ratings, yet increases overall scores such as the social and governance scores. Companies with higher leverage have a weaker social, governance and overall score, but a higher environmental rating. Finally, companies eliciting a higher sustainable growth rate have weak governance and overall scores. This study provides empirical evidence that will be useful to capital market investors, management teams of these companies and policymakers in their efforts to promote responsible investment in Malaysian public listed companies in line with UN-PRI policy.
Resources Policy, 2022
The clean energy transitions require a large volume of minerals to handle its diverse technologie... more The clean energy transitions require a large volume of minerals to handle its diverse technologies, such as solar photovoltaics (PV), wind turbines etc. Therefore, mineral importing countries concentrated on cleaner energy production confront an uprising trend in critical mineral prices due to thriving demands. We quest for the response of the top mineral importing countries' import demand for minerals to the clean energy transitions from 1996 to 2019 within the import-demand function analysis. Using the cross-sectional autoregressive distributed lag (CS-ARDL) method, our findings divulge a significantly positive response of mineral import demand to solar and wind energy productions in the long run. We also find that mineral price elasticity holds the Marshallian demand hypothesis in the mineral-laden solar energy generation while contradicting it in wind energy production. In addition, the oil price substitution effect does not sustain, whereas exchange rate depreciates mineral import demands in the long run. Therefore, our policy implications encompass optimizing the mineral resources for clean energy transitions to materialize the 21st century's global agenda of a decarbonized or net-zero emissions trajectory.
Business Process Management Journal, 2022
Purpose: This study examines whether corporate governance enhances the financial and social busin... more Purpose: This study examines whether corporate governance enhances the financial and social business performance of three- to five-star hotels in Western Australia through the three dimensions of market orientation (i.e., customer orientation, competitor orientation, and inter-function coordination) as mediators.
Design/methodology/approach: Data were collected from managers of hotels in the WA capital city of Perth and its surrounding areas using a questionnaire. Partial least squares structural equation modelling (PLS-SEM) was used to analyse the data.
Findings: The overall result shows interesting findings of market orientation's mediating role. It is found that corporate governance may lead to better financial business performance through competitor orientation, but not through customer orientation and inter-function coordination. Complementary, corporate governance may lead to better social business performance through customer orientation and inter-function coordination, but not through competitor orientation.
Originality: This paper offers contributions to both literature and practice on what dimensions of market orientation are important to enhance the performance of hotels when corporate governance is applied.
Cogent Economics and Finance, 2022
National governments and their development partners have considered microcredit as a strategic to... more National governments and their development partners have considered microcredit as a strategic tool for vulnerable populations. Easy access to finance increases the client's ability to invest and allows clients to use resources to change their behaviour, increase their business opportunities and create employment. This paper aims to review studies that focused on microcredit and employment issues affecting beneficiaries, including gender-based employment creation and the informal sector. Through a systematic search of electronic databases and keywords to identify relevant studies, 40 core articles are identified for the period 1998-2021. The results indicate the significant impacts of microcredit on women's employment creation and business revenue of microenterprises in the informal sector. Moreover, a few studies set out to integrate gender employment creation and the informal sector with reference to microcredit. A framework is proposed to address the relationship between employment structure and microcredit. Finally, this study recommends developing a financial social accounting matrix and run empirical analysis on macro modelling such as input-output or general equilibrium modelling. Doing so will help obtain better understanding of how microcredit participation is associated with employment creation in different sectors and different types of household groups.
Environmental Science and Pollution Research, 2022
Reduced electricity demand through the implementation of an energy efficiency policy is a central... more Reduced electricity demand through the implementation of an energy efficiency policy is a central pillar of the Malaysian government’s energy strategy. Energy efficiency first emerged as part of Malaysia’s energy policy agenda in 1979 but only came into force during the 2000s. Initially, it was seen from global fears about the shortage of fossil fuels, then as a way of combating climate change. This paper offers a comprehensive review of Malaysia’s energy policies with a focus on adopting policies to improve energy efficiency. Starting with Malaysia’s preliminary policy in response to the OPEC-driven global oil crisis in 1973, the paper discusses how policymakers are considering energy efficiency from Malaysia’s sustainable development perspective and what relevant government efforts have been made to improve it. The review evaluates the progress that has been made over the past 25 years to address energy efficiency in the economy and highlights the achievements and remaining difficulties. Findings show that the level of energy efficiency while having shown improvement during 1990-2015, was lower than expected. In terms of electricity intensity of GDP, Malaysia has a relatively large position among the ASEAN countries and the world’s largest electricity consumers. Researchers, scientists, and practitioners will benefit from the extensive review material of this study, which will help them better understand energy efficiency and the sustainability strategy implemented in Malaysia to date.
Environmental Science and Pollution Research, 2022
Pandemics leave their mark quickly. This is true for all pandemics, including COVID-19. Its multi... more Pandemics leave their mark quickly. This is true for all pandemics, including COVID-19. Its multifarious presence has wreaked havoc on people's physical, economic, and social life since late 2019. Despite the need for social science to save lives, it is also critical to ensure future generations are protected. COVID-19 appeared as the world grappled with the epidemic of climate change. This study suggests policymakers and practitioners address climate change and COVID-19 together. This article offers a narrative review of both pandemics' impacts. Scopus and Web of Science were sought databases. The findings are reported analytically using important works of contemporary social theorists. The analysis focuses on three interconnected themes: technology advancements have harmed vulnerable people; pandemics have macro- and micro-dimensions; and structural disparities. To conclude, we believe that collaborative effort is the key to combating COVID-19 and climate change, while understanding the lessons learnt from the industrialised world. Finally, policymakers can decrease the impact of global catastrophes by addressing many socioeconomic concerns concurrently.
Society and Business Review, 2022
The credit card market is very large and segmented by targeting different types of consumers. One... more The credit card market is very large and segmented by targeting different types of consumers. One type of credit card is one that specifically targets people in the education sector, for instance students, teachers and other staff members. This study aims to compare the features of education and other credit cards in Malaysia. Design/methodology/approach: The study analyzes data concerning 234 credit cards by using descriptive statistics and one-way analysis of variance (ANOVA) test. Findings: Out of 234 credit cards, this study found only two credit cards especially target education sector customers. The study evaluated thirteen features of these credit cards and found that only two features are statistically significantly different from other conventional credit cards in Malaysia. These features are interest rate and cash withdrawal charge fees. Originality/value: This is an original study based on compilation of data from secondary sources. The findings will provide valuable insights to financial regulatory policy-makers, academics, and business managers.
Environmental Science and Pollution Research, 2022
This is a pre-publication copy. The published article is copyrighted by the publisher of the jour... more This is a pre-publication copy. The published article is copyrighted by the publisher of the journal. Revisiting the energy-economy-environment relationships for attaining environmental sustainability: Evidence from Belt and Road Initiative countries Abstract The Belt and Road Initiative (BRI) is an ambitious development project initiated by the Chinese government to foster economic progress worldwide. This study aims to investigate the dynamics of energy, economy, and environment among 42 BRI developing countries using an annual frequency panel dataset from 1995 to 2019. The major findings from the econometric analysis revealed that higher degrees of energy consumption, economic growth, population growth rate, and FDI inflows exhibit adverse environmental consequences by boosting the CO2 emission figures of the selected developing BRI nations. However, it is interesting to observe that exploiting renewable energy sources, which are relatively cleaner compared to the traditionally-consumed fossil fuels, and fostering agricultural sector development can significantly improve environmental well-being by curbing the emission levels. On the other hand, financial development is found to be ineffective in explaining the variations in CO2 emission figures of the selected BRI member countries. Besides, the causality analysis shows that higher energy consumption, FDI inflows, and agricultural development cause environmental pollution by boosting carbon dioxide emissions. However, economic growth, technology development, financial progress, and renewable energy consumption are evidenced to exhibit bidirectional causal associations with carbon dioxide emissions. In line with these findings, several relevant policies can be recommended.
Academy of Strategic Management Journal, 2021
The study aimed to provide additional insights on how supply chain management practices are used ... more The study aimed to provide additional insights on how supply chain management practices are used to promote sustainable development in line with Maqasid Al-Shariah principles of Islam. A multiple case study approach involving two major automotive firms in Malaysia was used to address key research issues. The results show that these SCM practices, viz. resources, information, integration, and relationship practices support the promotion of Maslahah for all human beings which is consistent with the aims of Maqasid Al-Shariah principles for sustainable development. The findings provide some guidance to facilitate the achievement of SDGs especially among Muslim countries through their SCM practices. Studies which examined SCM practices for sustainable development from an Islamic perspective are limited. Therefore, the present study aims to provide additional insights on how SCM practices are used to promote sustainable development in line with Maqasid Al-Shariah principles. Some SCM practices are congruent with Maqasid al-Shariah particularly when the practices are examined through the Islamic lens that focuses on the goal of creating value to mankind.
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Books & Monographs by Md. Mahmudul Alam
To make the book more reader-friendly, we provided a comprehensive summary at the end of each essay. Readers who are time pressed but want to know the basic contents and the key messages of the essays at the shortest time at hand, can do so by reading the summaries of the essays.
An additional and special feature of this book is that it emphasizes on the holistic and ethical aspects of development. This aspect is least covered by most standard textbooks on the subject. In that sense this book will serve as a make up for the deficiencies of the text book materials in terms of ethical orientation, essence, and higher goals of development.
We gratefully acknowledge the generosity of the publishers and authors of all the research works from where the materials have been compiled for use in this book. Similarly, we are profoundly thankful to all the scholars, particularly to Prof. Golam Dastagir of Jahangirnagar University, Dhaka, and Prof. Munir Quddus of Prairie View A&M University, Texas, for their critical comments on the draft of the book. Specially, we are profoundly thankful and grateful to Prof. Datuk Dr. Syed Othman Alhabshi for writing the scholarly foreword of this book. Finally, we remain thankful to Universiti Malaysia Perlis, Malaysia and the International Islamic University Chittagong, Bangladesh for jointly publishing this book.
The Authors
Dated: February, 2012
However, we need not undermine the importance and efforts of the microcredit movement, both as an economic as well as a social institution, for the betterment of the poor in the society. We need not be selfish and miser to give the movement its due credit. MC should not be summarily viewed as unuseful and unsuccessful. It has been making some contributions to the betterment of the poor and it should be given the appreciation it deserves. But like many other researchers we are troubled by the contradicting attitudes of the microcredit providers toward the borrowers. In one hand they are concerned and committed to pull the poor out of poverty, on the other hand they are so harsh in the timely payment of repayment installments putting a blind eye to the sufferings of these poor borrowers. Therefore, MCIs need to be more innovative to be able to serve and take care of the wellbeing of the critical group among the borrowers. We are also puzzled to see that in spite of the exorbitantly high interest rate charges and all other limitations, increasing number of these poor are borrowing credit from these MCIs. This surgical study on the inside view of microcredit in Bangladesh, using a rich data set developed through a survey of 555 sample borrowers from rural, semi-urban, and urban areas of all 7 administrative divisions of Bangladesh, is an effort to address these issues and find answers to these and other questions like its potentiality to become a growth tool in the third sector economy.
To our own best assessment this study made three major contributions to microcredit literature: a) application of economic-profit counting method in economic productivity analysis, b) identification of the critically vulnerable group among the borrowers; and c) the revelation that microcredit is respected by the borrowers more as a social than economic institution. To them, microcredit has facilitated their social and political empowerments and safeguarded their social status.
An additional feature of this monograph is that it includes a chapter reflecting on the status of Islamic microcredit in the country.
We are thankful to the sample micro borrowers for their sincere cooperation and responses in the operation of this research. We are equally thankful to the field investigators for their honest and untiring search for information. We are thankful to Professor Dr. Abu Bakr Rafique Ahmed, Pro Vice-Chancellor of International Islamic University Chittagong, Bangladesh for his most valuable suggestion to include in the book a separate chapter on Islamic microfinance. This chapter has certainly enhanced the focus of the monograph. Lastly we are grateful to Professor Dr. Anisuzzaman Chowdhury of University of Western Sydney, Australia, and Senior Economic Affairs Officer, Department of Economic and Social Affairs, United Nations, New York, for writing a thoughtful foreword to this work.
The authors
“…this is an important contribution and should enhance our understanding of the impact of microfinance on poverty.” – Prof. Anisuzzaman Chowdhury, Senior Economic Affairs Officer, United Nations
Keywords: Grameen Bank, Microcredit, Microfinance, Microenterprise
Link: http://www.amazon.com/Inside-Story-Microcredit-Bangladesh-Investigation/dp/384659251X/
KEY WORDS: microentrepreneurship, microenterprise, petty traders, poverty alleviation, MFIs, NGOs, microcredit
Link: http://www.amazon.com/Microentrepreneurship-Development-Bangladesh-Mahmudul-Alam/dp/3838330447/ref=sr_1_1?ie=UTF8&s=books&qid=1269706491&sr=1-1
KEY WORDS: Climate Change; Food security; Agricultural Sustainability; Socioeconomic Study; Adaptation; Agricultural Subsidy; Malaysia; Paddy Productivity; Poverty; Income Inequality
Link: http://www.amazon.com/Socioeconomic-Study-Climate-Change-Sustainability/dp/3838352106/ref=sr_1_2?ie=UTF8&s=books&qid=1273518455&sr=8-2
Refereed Journal Articles by Md. Mahmudul Alam
Design/methodology/approach: Data was obtained using answers to questionnaires given to 348 successful entrepreneurs. The data was analysed using non-parametric software (Smart-PLS).
Finding: The results indicate that entrepreneurs who understand “know-why”, “know-how”, and “know-whom” can access the required resources and are doing well in their careers. It is suggested that these competencies were significantly related to entrepreneurial career success. Resource availability moderates the relationship of knowing-how, knowing-why competencies and career success, while creativity moderates only the link between knowing-whom and entrepreneurs having successful careers.
Research limitations/implications: The results help us to comprehend better the nature of successful entrepreneurial careers and the prominent role of tripartite competencies in achieving a successful career. Also emphasised here is the prominence of a more holistic perspective of these components based on a mix of social, motivational, and human capital.
Practical implications: These findings hinted that entrepreneur should pay uniform consideration in fostering each career competency. There are implications for career advisers, practitioners, and entrepreneurship programs.
Originality/value: This is a first-of-its-kind research that used primary source data in understanding career competencies - “knowing-how, knowing-whom, and knowing-why” - with entrepreneurs' career success in Nigeria.
Design/methodology/approach – Primary data were collected from May to September 2019 using a questionnaire to survey 102 Islamic bank customers in Malaysia, and 147 in Saudi Arabia.The data are analysed based on Structural Equation Modelling (SEM) using the partial least squares (PLS) approach.
Findings – The findings show that knowledge, attitude, and subjective norms are the highly significant determining factors that influence customers’ opinions on adapting to new technology, but awareness demonstrates only a moderately positive effect. Moreover, the impact of these factors on the intention to adopt FinTech services significantly differs between Malaysian and Saudi Arabian customers.
Originality/value – This is an original study based on primary data on customers of Islamic banking in Malaysia and Saudi Arabia. It provides some novel insights into how the Islamic banking industry can boost customers’ confidence and enhance their patronage by adopting FinTech in their business operation model. These findings should be of value to managers, policymakers, and regulators in the Islamic banking industry in both Muslim and non-Muslim countries.
Design/methodology/approach: Data were collected from managers of hotels in the WA capital city of Perth and its surrounding areas using a questionnaire. Partial least squares structural equation modelling (PLS-SEM) was used to analyse the data.
Findings: The overall result shows interesting findings of market orientation's mediating role. It is found that corporate governance may lead to better financial business performance through competitor orientation, but not through customer orientation and inter-function coordination. Complementary, corporate governance may lead to better social business performance through customer orientation and inter-function coordination, but not through competitor orientation.
Originality: This paper offers contributions to both literature and practice on what dimensions of market orientation are important to enhance the performance of hotels when corporate governance is applied.
To make the book more reader-friendly, we provided a comprehensive summary at the end of each essay. Readers who are time pressed but want to know the basic contents and the key messages of the essays at the shortest time at hand, can do so by reading the summaries of the essays.
An additional and special feature of this book is that it emphasizes on the holistic and ethical aspects of development. This aspect is least covered by most standard textbooks on the subject. In that sense this book will serve as a make up for the deficiencies of the text book materials in terms of ethical orientation, essence, and higher goals of development.
We gratefully acknowledge the generosity of the publishers and authors of all the research works from where the materials have been compiled for use in this book. Similarly, we are profoundly thankful to all the scholars, particularly to Prof. Golam Dastagir of Jahangirnagar University, Dhaka, and Prof. Munir Quddus of Prairie View A&M University, Texas, for their critical comments on the draft of the book. Specially, we are profoundly thankful and grateful to Prof. Datuk Dr. Syed Othman Alhabshi for writing the scholarly foreword of this book. Finally, we remain thankful to Universiti Malaysia Perlis, Malaysia and the International Islamic University Chittagong, Bangladesh for jointly publishing this book.
The Authors
Dated: February, 2012
However, we need not undermine the importance and efforts of the microcredit movement, both as an economic as well as a social institution, for the betterment of the poor in the society. We need not be selfish and miser to give the movement its due credit. MC should not be summarily viewed as unuseful and unsuccessful. It has been making some contributions to the betterment of the poor and it should be given the appreciation it deserves. But like many other researchers we are troubled by the contradicting attitudes of the microcredit providers toward the borrowers. In one hand they are concerned and committed to pull the poor out of poverty, on the other hand they are so harsh in the timely payment of repayment installments putting a blind eye to the sufferings of these poor borrowers. Therefore, MCIs need to be more innovative to be able to serve and take care of the wellbeing of the critical group among the borrowers. We are also puzzled to see that in spite of the exorbitantly high interest rate charges and all other limitations, increasing number of these poor are borrowing credit from these MCIs. This surgical study on the inside view of microcredit in Bangladesh, using a rich data set developed through a survey of 555 sample borrowers from rural, semi-urban, and urban areas of all 7 administrative divisions of Bangladesh, is an effort to address these issues and find answers to these and other questions like its potentiality to become a growth tool in the third sector economy.
To our own best assessment this study made three major contributions to microcredit literature: a) application of economic-profit counting method in economic productivity analysis, b) identification of the critically vulnerable group among the borrowers; and c) the revelation that microcredit is respected by the borrowers more as a social than economic institution. To them, microcredit has facilitated their social and political empowerments and safeguarded their social status.
An additional feature of this monograph is that it includes a chapter reflecting on the status of Islamic microcredit in the country.
We are thankful to the sample micro borrowers for their sincere cooperation and responses in the operation of this research. We are equally thankful to the field investigators for their honest and untiring search for information. We are thankful to Professor Dr. Abu Bakr Rafique Ahmed, Pro Vice-Chancellor of International Islamic University Chittagong, Bangladesh for his most valuable suggestion to include in the book a separate chapter on Islamic microfinance. This chapter has certainly enhanced the focus of the monograph. Lastly we are grateful to Professor Dr. Anisuzzaman Chowdhury of University of Western Sydney, Australia, and Senior Economic Affairs Officer, Department of Economic and Social Affairs, United Nations, New York, for writing a thoughtful foreword to this work.
The authors
“…this is an important contribution and should enhance our understanding of the impact of microfinance on poverty.” – Prof. Anisuzzaman Chowdhury, Senior Economic Affairs Officer, United Nations
Keywords: Grameen Bank, Microcredit, Microfinance, Microenterprise
Link: http://www.amazon.com/Inside-Story-Microcredit-Bangladesh-Investigation/dp/384659251X/
KEY WORDS: microentrepreneurship, microenterprise, petty traders, poverty alleviation, MFIs, NGOs, microcredit
Link: http://www.amazon.com/Microentrepreneurship-Development-Bangladesh-Mahmudul-Alam/dp/3838330447/ref=sr_1_1?ie=UTF8&s=books&qid=1269706491&sr=1-1
KEY WORDS: Climate Change; Food security; Agricultural Sustainability; Socioeconomic Study; Adaptation; Agricultural Subsidy; Malaysia; Paddy Productivity; Poverty; Income Inequality
Link: http://www.amazon.com/Socioeconomic-Study-Climate-Change-Sustainability/dp/3838352106/ref=sr_1_2?ie=UTF8&s=books&qid=1273518455&sr=8-2
Design/methodology/approach: Data was obtained using answers to questionnaires given to 348 successful entrepreneurs. The data was analysed using non-parametric software (Smart-PLS).
Finding: The results indicate that entrepreneurs who understand “know-why”, “know-how”, and “know-whom” can access the required resources and are doing well in their careers. It is suggested that these competencies were significantly related to entrepreneurial career success. Resource availability moderates the relationship of knowing-how, knowing-why competencies and career success, while creativity moderates only the link between knowing-whom and entrepreneurs having successful careers.
Research limitations/implications: The results help us to comprehend better the nature of successful entrepreneurial careers and the prominent role of tripartite competencies in achieving a successful career. Also emphasised here is the prominence of a more holistic perspective of these components based on a mix of social, motivational, and human capital.
Practical implications: These findings hinted that entrepreneur should pay uniform consideration in fostering each career competency. There are implications for career advisers, practitioners, and entrepreneurship programs.
Originality/value: This is a first-of-its-kind research that used primary source data in understanding career competencies - “knowing-how, knowing-whom, and knowing-why” - with entrepreneurs' career success in Nigeria.
Design/methodology/approach – Primary data were collected from May to September 2019 using a questionnaire to survey 102 Islamic bank customers in Malaysia, and 147 in Saudi Arabia.The data are analysed based on Structural Equation Modelling (SEM) using the partial least squares (PLS) approach.
Findings – The findings show that knowledge, attitude, and subjective norms are the highly significant determining factors that influence customers’ opinions on adapting to new technology, but awareness demonstrates only a moderately positive effect. Moreover, the impact of these factors on the intention to adopt FinTech services significantly differs between Malaysian and Saudi Arabian customers.
Originality/value – This is an original study based on primary data on customers of Islamic banking in Malaysia and Saudi Arabia. It provides some novel insights into how the Islamic banking industry can boost customers’ confidence and enhance their patronage by adopting FinTech in their business operation model. These findings should be of value to managers, policymakers, and regulators in the Islamic banking industry in both Muslim and non-Muslim countries.
Design/methodology/approach: Data were collected from managers of hotels in the WA capital city of Perth and its surrounding areas using a questionnaire. Partial least squares structural equation modelling (PLS-SEM) was used to analyse the data.
Findings: The overall result shows interesting findings of market orientation's mediating role. It is found that corporate governance may lead to better financial business performance through competitor orientation, but not through customer orientation and inter-function coordination. Complementary, corporate governance may lead to better social business performance through customer orientation and inter-function coordination, but not through competitor orientation.
Originality: This paper offers contributions to both literature and practice on what dimensions of market orientation are important to enhance the performance of hotels when corporate governance is applied.
the host countries’ stock market performance before and after the announcement of such
events. Specifically, this study explores whether stock markets of hosting countries experience
cumulative average abnormal return (CAAR) during the aforementioned period. For the
purposes of investigation, the study considers announcements of the 18th Asian Games and
30th SEA Games hosted by Indonesia and the Philippines, respectively. The LQ45 index of the
Indonesia Stock Exchange (IDX) and PSEi index of the Philippines Stock Exchange (PSE)
were chosen to test the significance of these events. It is found that only PSE has experienced
a significantly positive CAAR for the event. Findings of this study can make a significant
contribution to helping national governments and investors understand the significance of
sports to the economies of developing countries and how major sports events can improve stock
market efficiency.
Keywords: Job satisfaction; glass ceiling; gender discrimination; Bangladesh
Reference: Nazmul, A.K., and Alam, M.M. 2016. Empirical Evidences of Women Employees Job Satisfaction and Glass Ceiling: A study on the Private Sector of Bangladesh. Proceedings of the International Conference on “Business Management, Economics and Social Science (ICBMESS 2016), Uttara University, Dhaka, Bangladesh, Dec 21-23.
Keywords: Climatic Changes, Household Food Security, Food Utilization; Vulnerability, Poverty
Reference: Alam, M.M., Siwar, C., Talib, B., and Wahid, A.N.M. 2016. Climatic Changes and Vulnerability of Household Food Utilization in Malaysian East Coast Economic Region. Proceedings of the International Symposium on Sustainable Development and Management, International Business School, Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia, Oct 8-9.
Reference: Said, J., Alam, M.M., Atan, R., and Omar, N. 2016. Corporate Integrity System and Accountability Outcomes of Non-Profit Organizations: Empirical Findings from Malaysia. Proceedings of the 4th International Conference On Governance And Accountability Towards Sustainable And Accountable Landscape, Universiti Teknologi Mara, Melaka, Malaysia, Sep 25-28.
Keywords: CO2 emissions; industrial production; causality; long-run trend; corporate carbon strategy; corporate environmental strategy; Japan
Reference: Murad. M.W., Janek, R., Alam, M.M. 2016. Japan’s Industrial Production And CO2 Emissions: Determining The Causality, Long-Run Trend And Corporate Environmental Strategies, Proceedings of the 3rd International Scientific Conference: Information Society and Sustainable Development, Polovragi, Gorj, Romania, Apr 14-15.
Key word: Leaderships; Science; Technology; Muslim; Islam
Reference: Saadi, M.L.K., and Alam, M.M. 2015. Contributions of Muslim in Science and Technology: Glorious Past and the Way to Revive. Proceedings of the 3rd Biruni Interdisciplinary International Conference, University of Dhaka, Bangladesh, Dec 10-12.
Key words: Climatic Changes, Household Food Security, Food Availability; Vulnerability; Poverty
Reference: Alam, M.M., Siwar, C., Jaafar, A.H., and Talib, B. 2015. Climatic Changes and Vulnerability of Household Food Availability in Malaysian East Coast Economic Region. Proceedings of the Asia Pacific Conference on Business and Social Sciences, pp. 775-784, Kuala Lumpur. Malaysia, Nov. 23-24.
Key Words: Amanah Ikhtiar Malaysia, Islamic microcredit, microenterprise, Maqasid Al-Shariah, Al-daruriyyat
Reference: Alam, M.M., Hassan, S., and Said, J. 2014. Role of Islamic Microcredit in Terms of Maqasid Al-Shariah: A Case Study on Amanah Ikhtiar Malaysia. Proceedings of the 7th International Conference of International Islamic University Chittagong (IIUC), Chittagong, Bangladesh, Dec 19-20.
Key Words: Waste; Landfill; Street Children; Poverty; Bangladesh
Reference: Hossain, M.S., Alam, M.M., and Khan, N.A. 2014. Socioeconomic Characteristics of Waste Collector Children in Dhaka City, Bangladesh. Proceedings of the 7th International Conference of International Islamic University Chittagong (IIUC), Chittagong, Bangladesh, Dec 19-20.
Key Words: Public Sector; Accountability; Integrity; Control System; Leadership; Path Modelling; Ordinal Regression; Factor Analysis; Malaysia
Reference: Said, J., Alam, M.M., and Aziz, M.A. 2014. Public Accountability System: Empirical Assessment of Public Sector of Malaysia. Proceedings of the First International Conference on Islamic Behavioural Finance, Effat University, Jeddah, Saudi Arabia, Nov 18-19.
Key Words: Shariah, Share market, Stock, Islamic share market, Islamic banking, Zakaah on share
Reference: Alam, M.M., Akbar, C.S., and Elahi, M.M. 2014. Islamic Principles for Investment in Stock Market, Accepted for the 5th International Conference on Islamic Jurisprudence in the 21st Century 2014, Department of Fiqh & Usul al-Fiqh, International Islamic University Malaysia, Malaysia, Sep 23-25.
Keywords: Maqasid Al-shariah, Islamic finance, Wealth, Riba
Reference: Elahi, M.M., and Alam, M.M. Dealing of Wealth and Financial Transaction in Islam: Maqasid Al-Shariah based Principles and Approaches. Proceedings of the 5th International Conference on Islamic Jurisprudence in the 21st Century 2014, Department of Fiqh & Usul al-Fiqh, International Islamic University Malaysia, Malaysia, Sep 23-25.
Keywords: waqf, Islamic entrepreneurship, social entrepreneurship, social welfare, third-sector economy.
Reference: Shahriar, S.M., Alam, M.M., and Elahi, M.M. 2014. Maqasid of Waqf: Rendering Social Welfare Services in the Context of Social Entrepreneurship, Accepted for the 5th International Conference on Islamic Jurisprudence in the 21st Century 2014, Department of Fiqh & Usul al-Fiqh, International Islamic University Malaysia, Malaysia, Sep 23-25.
Entrepreneurship is indispensable for progress of human civilization and effectively exploring and exploiting existing and potential resources for wellbeing of humanity. Modern economics operates basically through two major modes of entrepreneurships : the market/private sector economics relying on commercial entrepreneurships (self-interest centric) and the state/public sector economics relying on state entrepreneurships (public-wellbeing centric). However, both individually and jointly, have failed to ensure economics’ fundamental goal of wellbeing for human societies. In response, social enterprise economics (third sector), which features cooperatives and not-for-profit social enterprises in the name of foundations, trusts/awqāf, social businesses, and similar undertakings, has emerged as a make-up strategy to meet the minimum unmet requirements for social wellbeing. However, there is a strongly felt belief that the social enterprise economics needs to be broadened and mainstreamed in order to include entirely charitable institutions, predominantly not-for-profit operations, and predominantly for-profit businesses but blended with social justice via provision of social welfare programs like corporate social responsibility, etc., for its emancipation as a major economic system to be able to play a leading role for ensuring desirable economic growth and development. Islamic entrepreneurship, which is basically a community-centric mode of business initiative, is closely related to social entrepreneurship. It is an antidote to the problem of intolerable economic and social dualism and a natural strategy against all forms of capitalist exploitation to control world resources, like, in the past, through European colonialism, and now, through American-led state terrorism. It is the natural guard against economic inequity, wealth concentration, and social divides. Based on its potential and using examples from Bangladesh and Malaysia, we contend that the Islamic style social entrepreneurship is intellectually and operationally superior and more efficient for effectively widening and mainstreaming community-centric social enterprise economics to ensure development with equity and social justice. The paper aims to put forward social enterprise economics (third sector) for dialogue and research in the context of effective functioning of modern economies ensuring community wellbeing.
Key words: entrepreneurship, community-centric, American-led terrorism, not for-profit business, economic & social dualism, capitalist exploitation, social justice, public sector, private sector.
Referecne: Molla, R.I., Alam, M.M., Bhuiyan, A.B., and Alam, A.S.A.F. 2014. Social and Islamic Entrepreneurships for Social Justice: A Structural Framework for Social Enterprise Economics. Proceedings of the International Conference on Management & Business Sustainability, Putra World Trade Centre, Kuala Lumpur, Malaysia, Aug 18-19.
Key words: entrepreneurship, community-centric, American-led terrorism, not for-profit business, economic & social dualism, capitalist exploitation, social justice, public sector, private sector.
Key Words: Shariah, Efficient market hypothesis (EMH), Islamic share market, Islamic banking, Zakaah on Share
Jel Code: J11, J22, O15
Keywords: Population growth; fertility rate; work-age population; dependency ratio; economic sustainability; zero-sum game; ‘child bearing habitual gap’; ‘work-age formation gap’; ‘slim-green’ life style.
Key words: Climatic Change; Agricultural Productivity; Paddy; Adaptation; Technology; Malaysia
Keywords: Waqf, Islamic entrepreneurship, social entrepreneurship, social welfare, third-sector economy.
Key Words: International migration; remittance; labor; sociocultural impacts; structural equation model (SEM); ordered regression; Bangladesh
Key Words: Micro-entrepreneurship, Socio-Economic Development, Structured Institutions, Non-structured Institutions, Bangladesh
Reference: Alam, M.M, Nilaka, G.A., Nissanka, N.A., Mukherjee, S., & Fatimah, Y.A. (2013). Translation in Social and Environmental Sustainability: Case of Energy Sector in Few Asian Countries, Policy Brief of UNU-IHDP, International Human Dimensions Programme (IHDP), UN University, Bonn, Germany.
Key words: Economic Globalization; Capitalist Globalization; Neoliberalism; Fair market; Economic Nationalism; Income Convergence; Industrial Competitiveness.
JEL Classification: C32, F13, F43, O11, O19, O47, O57, P16, P17