The Cooperative Efficiency Development Model Based on Sharia Law
Article Sidebar
Main Article Content
Abstract
In this research investigation, the researchers analyze (1) the influence of the cooperative management based on Sharia Law on the efficiency of the cooperatives in Satun province; and analyze (2) the influence of the Sharia governance on the efficiency of the cooperatives under study.
A questionnaire was used to collect data from the sample population of 428 members of Islamic cooperatives. Data were statistically analyzed using mean, standard deviation, frequency, and percentage. The techniques of Pearson’s correlation coefficient and multiple regression analysis were also employed.
Findings showed that the cooperative management based on the Sharia principles consisted of the following principles. At the highest level was justice (Beta = .266, t = 7.568). Next in descending order were transparency and accountability (Beta = .265, t = 7.776); free from speculation (Beta = .087, t = 6.675); interest free (Beta = .178, t = 4.845); and uncertainty free (Beta = .087, t = 2.216). These principles exhibited an influence on the cooperative efficiency at a statistically significant level. Sharia governance consists of the following. At the highest level was the Sharia-based risk management (Beta = .387, t = 9.951). Next in descending order were the Sharia-based auditing (Beta = .320, t = 8.057); and the Sharia committee (Beta = .248, t = 6.311). These principles exhibited cooperative efficiency at a statistically significant level. Therefore, cooperative boards should prioritize the Sharia-based principles of cooperative management and the Sharia governance in order to further enhance the efficiency level of cooperatives.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
เนื้อหาและข้อมูลในบทความที่ลงตีพิมพ์ในวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ถือเป็นข้อคิดเห็นและความรับผิดชอบของผู้เขียนบทความโดยตรง ซึ่งกองบรรณาธิการไม่จำเป็นต้องเห็นด้วย หรือร่วมรับผิดชอบใดๆ
บทความ ข้อมูล เนื้อหา รูปภาพ ฯลฯ ที่ได้รับการตีพิมพ์ในวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ถือเป็นลิขสิทธิ์ของวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง หากบุคคลหรือหน่วยงานใดต้องการนำบทความทั้งหมดหรือส่วนหนึ่งส่วนใดไปเผยแพร่ต่อ หรือเพื่อกระทำการใดๆ จะต้องได้รับอนุญาตเป็นลายลักษณ์อักษรจากวารสารบริหารธุรกิจและสังคมศาสตร์ มหาวิทยาลัยรามคำแหง ก่อนเท่านั้น
References
กรมส่งเสริมสหกรณ์. (2566). จำนวนสหกรณ์และสมาชิกสหกรณ์ในประเทศไทย. https://drive.google.com/file/d/1qX1JiuIae6bd_QJuahVsywftdPX9OOG2/view
ศูนย์ถ่ายทอดเทคโนโลยีการสหกรณ์ที่ 18 จังหวัดสงขลา. (2566). ผลการจัดชั้นความเข้มแข็งของสหกรณ์อิสลาม. https://cttc18.cttc.cpd.go.th/cooperative-training-online/cooperative-training-in-line-with-slamic-way.html
Ahmed, H., Mohieldin, M., Verbeek, J., & Aboulmagd, F. (2015). On the Sustainable Development Goals and the Role of Islamic Finance. World Bank policy research working paper, (7266).
Alam, M. K., Islam, F. T., & Runy, M. K. (2021). Why does Shariah governance framework important for Islamic banks?. Asian Journal of Economics and Banking, 5(2), 158-172.
Alam, M. M., Akbar, C. S., Shahriar, S. M., & Elahi, M. M. (2017). The Islamic Shariah principles for investment in stock market”, Qualitative Research in Financial Markets, 9(2), 132-146.
Al-Omar, F., & Abdel-Haq, M. (1996). Islamic Banking: Theory, Practice, and Challenges. Zed Books.
Ben Abdallah, M., & Bahloul, S. (2021). Disclosure, shariah governance and financial performance in Islamic banks. Asian Journal of Economics and Banking, 5(3), 234-254.
Berdie D. R., Anderson J. F., & Niebuhr, M. A., (1986). Questionnaires: Design and use. Scarecrow Press, Metuchen, NJ.
Bhatti, M. (2019). Resolving Islamic finance disputes through arbitration in the Middle East 1. In The Growth of Islamic Finance and Banking (pp. 254-261). Routledge.
Chapra, M. U. (1985). Towards a just monetary system (Vol. 8). International Institute of Islamic Thought (IIIT).
Delaney, J. T., & Huselid, M. A. (1996).The Impact of Human Resource Management Practices on Perceptions of Organizational Performance. Academy of Management Journal, 39(4), 949–69.
Dusuki, A. W., & Bouheraoua, S. (2011). The framework of Maqasid al-Shari’ah and its implication for Islamic finance. ICR J, 2(2), 316–336.
Grais, W., & Pellegrini, M. (2006). Corporate governance in institutions offering Islamic financial services: issues and options. World Bank Policy Research working paper.
Hair, J. F., Black, W. C., Babin, B. J., Anderson, R. E., & Tatham, R. L. (2009). Análise Multivariada de Dados: Multivariate Data Analysis (6th ed.). Porto Alegre: Bookman.
Hair, J. F., Anderson, R. E., Tatham, R. L., & Black, W. C. (2010). Multivariate data analysis (4th ed.). New Jersey: Prentice Hall.
Hanif, M. (2019). Islamic mortgages: principles and practice. International Journal of Emerging Markets, 14(5), 967-987.
Hassan, A., Sohail, M., & Munshi, M. (2021). Sharīah governance and agency dynamics of Islamic banking operations in the kingdom of Saudi Arabia. ISRA International Journal of Islamic Finance, 8,1-15.
Iqbal, M., & Molyneux, P. (2005). Thirty Years of Islamic Banking: History, Performance, and Prospects. Palgrave Macmillan.
Iqbal, Z., & Mirakhor, A. (2011). Introduction to Islamic Finance: Theory and Practice. Wiley.
Krejcie, R. V., & Morgan, D. W. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30, 607-610.
Liu, T., Wang, Y., & Wilkinson, S. (2016). Identifying critical factors affecting the effectiveness and efficiency of tendering processes in Public–Private Partnerships (PPPs): A comparative analysis of Australia and China. International Journal of project management, 34(4), 701-716.
Mollah, S., & Zaman, M. (2015). Shari’ah supervision, corporate governance and performance: Conventional vs. Islamic banks. Journal of Banking & Finance, 58(8), 418–435.
Nguyen, L. A., & Kend, M. (2021). The perceived impact of the KAM reforms on audit reports, audit quality and auditor work practices: stakeholders’ perspectives”, Managerial Auditing Journal, 36(3), 437-462.
Odia, J. O. (2014). Performance auditing and public sector accountability in Nigeria: the roles supreme audit institutions (SAIs)”, Asian Journal of Management Sciences and Education, 3(2),102-109.
Ramly, Z., & Nordin, N. D. H. M. (2018). Sharia supervision board, board independence, risk committee and risk-taking of Islamic banks in Malaysia. International Journal of Economics and Financial Issues, 8(4), 290-300.
Rehman, A. U., Aslam, E., & Iqbal, A. (2022).mIntellectual capital efficiency and bank performance: evidence from Islamic banks. Borsa Istanbul Review, 22(1),113-121.
Suharto, T. (2018). Transnational Islamic education in Indonesia: an ideological perspective.
Contemporary Islam, 12(2), 101-122.
Triki, M. W., & Boujelbène, Y. (2017). A comprehensive literature review of Islamic finance theory from 2011 to 2016. Global Journal of Management and Business Research: C Finance, 17(2), 21-26.
Usman, H., Projo, N. W. K., Chairy, C., & Haque, M.G. (2021). The exploration role of sharia compliance in technology acceptance model for e-banking (case: Islamic bank in Indonesia). Journal of Islamic Marketing, 13(5), 1089-1110.
Usmani, M. T. (2002). An introduction to Islamic finance (Vol. 20). Brill.
Zain, M.N.F.B.M. and Amanullah, M. (2018). Duties and decision-making guidelines for shariah committee: an overview of AAOIFI. Intellectual Discourse, 26(2), 729-748.
