Financial Course Research Articles

Perception of Shariah Scholars toward Islamic Banking in Pakistan

Purpose Islamic finance growth depends on factors that are crucial for fostering positive perceptions and increasing acceptance, particularly in Muslim countries. This study aims to investigate the influence of awareness, knowledge, religion and the advantages on perceptions of Shariah scholars toward Islamic banks in Pakistan and the mediating role of attitude. Design/methodology/approach The study collected data through a questionnaire from 200 Shariah scholars in Pakistan who have completed or are currently enrolled in Islamic banking and finance courses. It employed exploratory and confirmatory factor analyses using SPSS and AMOS software to analyze the data to evaluate measurement and structural models, ensuring the validity and reliability of the constructs and testing hypotheses to examine the relationships among factors and perception. Findings The study identified a significant influence of knowledge and attitude on perception, thus supporting H3 and H9. H2, H6 and H8 indicate an insignificant impact of awareness, religious motivation and advantage on perception. This highlights the need for Islamic banks to bridge academic and industry gaps, ensuring that their promotional efforts emphasize monitoring by Sharia committees. The research revealed significant impacts of factors on attitude, confirming H1, H3, H5 and H7. Importantly, attitude was found to play a pivotal role as a mediator between factors and Shariah scholars’ perceptions of Islamic banking in Pakistan. Research limitations/implications By investigating the perspectives of Shariah scholars, this research seeks to provide insights into enhancing the understanding and development of Islamic banking practices within the context of Islamic principles and global financial landscapes. Originality/value This research contributes to the field by uniquely focusing on Shariah scholars’ perceptions of Islamic banking, addressing a significant gap in literature because little research has been conducted to address these issues from the Shariah scholars’ perspectives.

BRalu Profile: the procurement strategy

Learning outcomes After completion of the case study, students will be able to understand BRalu Profile’s product range, customer base and historical developments; analyze how BRalu Profile’s procurement strategy evolved and its impact on business profitability; calculate and compare procurement costs and evaluate their role in decision-making for different suppliers; examine how market conditions (includes domestic and international dynamics) and pricing strategies influence procurement choices; assess the pros and cons of different procurement options and make informed recommendations based on supply chain principles; and identify potential procurement risks (e.g. currency exchange rates and supplier reliability) and propose strategies to mitigate them. Case overview/synopsis This case study explored the challenges faced by BRalu Profile, a prominent aluminum profile products company based in Ahmedabad, India. It focused on the critical task of supplier evaluation, selection and the complexities of maintaining relationships with existing suppliers. This case study delved into the intricate dynamics of procurement decisions within the supply chain and their direct impact on the firm’s overall performance. It also emphasized the supply chain’s susceptibility to disruptions and their consequences on company operations and supplier selection criteria. The protagonist, Dhaval Choladiya, had to navigate the complexities of cost-benefit analysis to identify the most suitable supplier, maximizing the firm’s net benefit while considering nonpricing parameters. This case study revealed the critical importance of maintaining strong supplier relationships in a competitive market and offered insights into the complexities of sourcing. Complexity academic level This case study is suitable for an undergraduate or graduate-level course on strategic sourcing or supply chain management or a risk management module in operations, strategy or finance course (e.g. how to deal with input cost fluctuations). Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy.

High-Impact Information Literacy Learning Opportunities in Postsecondary Education in Health, Civic Engagement, and Personal Finance Courses

This article extends Kuh and associates’ research describing high-impact learning as kinds and types of projects and assignments shown to benefit postsecondary students and increase rates of student retention and engagement. Given that the content and implementation of postsecondary courses have continuously evolved in recent years, this present study raises the question about whether other factors that may now make learning meaningful for students can be considered high impact. Findings have relevance to LIS faculty with expertise in the area of information literacy who create curriculum and prepare instructional librarians and information literacy practitioners to teach, as well as to other faculty across campuses. The article reports on 27 records in the academic areas of health, civic engagement, and personal finance selected following the 2009 Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines and the 2020 statement for reporting systematic reviews. Implications for LIS faculty are presented in a discussion of six categories of educational factors relevant to high-impact information literacy learning.

Innovation and Practice of Online-Offline Blended Bilingual Teaching in an International Finance Course

With the acceleration of globalization and the promotion of information education policies, the teaching approach for international finance courses in colleges and universities is undergoing unprecedented changes. Policies related to the development of national education information have clearly stated that school education should support the use of digital technology to innovate teaching and learning methods, emphasizing the improvement of education quality and efficiency. In this context, the innovation of the teaching mode of international finance courses is particularly important. International finance is an important discipline for cultivating compound talents with international vision and professional skills. As an innovative teaching method, online-offline hybrid bilingual teaching not only extends the boundaries of teaching resources in terms of time and space but also enhances the interactivity and practicality of teaching content. This approach has a significant impact on improving students' overall abilities and international competitiveness. It can be said that this teaching mode combines the flexibility of online learning with the interactive advantages of offline instruction, offering a new development direction for international finance courses in higher education. Based on this premise, the paper focuses on analyzing the significance of implementing online hybrid bilingual teaching in international finance courses and then introduces specific measures in detail.

Practice of Interactive Teaching Mode in International Finance Courses in Higher Vocational Education

As one of the important subjects in the teaching system of higher vocational education, the international finance course can effectively enhance the financial knowledge of vocational students and cultivate a group of vocational college talents with international perspectives and financial professional knowledge. Therefore, this article takes the interactive teaching mode as the starting point, explores the necessity and problems of the interactive teaching mode in the international finance curriculum of vocational colleges, and proposes practical strategies from relevant aspects to improve the quality level of the international finance curriculum.

The effect of online class attendance on academic performance in finance education

This study presents new evidence on how attending class –particularly synchronous virtual lessons– affects academic performance in higher education. We analyse data from over 500 undergraduate students enrolled in four finance courses at the University of Murcia, a Spanish public university where attendance is non-mandatory. After controlling for the student's previous admission grade, academic experience, and demographic factors, the results show that online class attendance significantly increases the likelihood of taking the exam and improves the success rate as well as the final grades. Moreover, when the analysis distinguishes between attending lectures and practical lessons, there is a similar (positive) effect on student performance.

Toward inclusive teaching: Utilizing student‐created case studies in a personal finance course

AbstractIn this qualitative study, we explore the potential of an innovative case study approach in a personal finance course among college students with the goal of making the course inclusive for students who are from economically disadvantaged families and traditionally have unsuccessful experiences in math. Students were required to create their own cases based on their unique, diverse backgrounds. Student reflections on their personal case study projects underwent thematic analyses. Our analysis documents the benefits and barriers perceived by students in this unique case study implementation, which has implications for promoting inclusive teaching in personal finance course design and delivery.

The Impact of Financial Education on Stress Among Orthopaedic Surgeons.

Financial stress has been an increasing area of concern for residents and attendings. The primary goal of this study was to determine the financial education level and differentiate financial outcome measures of orthopaedic surgery residents and attendings. A survey of all residents and attendings of the 201 Accreditation Council for Graduate Medical Education (ACGME)-accredited orthopaedic surgery programs in the United States. Total participation in the study was 118 residents (postgraduate year (PGY) 1-5), three fellows (PGY6), and 57 attending orthopaedic surgeons. A significant difference existed between average current financial stress scores between residents versus attending (2.32 vs 1.17), but not Doctor of Medicine (MD) versus Doctor of Osteopathic Medicine (DO) attendings (0.96 vs 1.67) and MD versus DO residents (2.25 vs 2.50). There was a significant difference in average future financial stress scores between residents and attendings (1.85 vs 1.44) and MD vs DO residents (1.61 vs 2.25) but no difference between MD vs DO attending (1.31 vs 1.63). Residents' confidence in financial knowledge compared to college graduates had a significantly negative Pearson coefficient with current financial stress score, while the attending group was not significant. Orthopaedic residents and attending physicians' financial stress levels are positively correlated with the amount of student debt they hold. Most residents who currently have no personal finance education offered in their residency would likely attend a personal finance course if offered. Decreasing the amount of debt held by residents, increasing their financial knowledge, and helping them develop good financial habits would likely lead to a decrease in financial stress.

Mercury Systems: Debt? Equity? Cash on hand?

Research methodology This case was researched using publicly available sources, including Mercury Systems financial filings and press releases, news stories about the seasoned equity offering, financial information from Bloomberg and industry information from IBISWorld Industry Reports and articles related to seasoned/secondary equity offerings, intangible asset valuation and the use of revolving lines of credit. Quotes are taken from Mercury financial reports and press releases and express the (optimistic) opinions of company executives. Case overview/synopsis Mercury Systems, a technology company in the aerospace and defense industry, announced a six million share seasoned stock offering in June 2019. This resulted in a 6% stock price decrease. A stock price decrease is a typical event when a firm announces the issuance of new common shares, but with Mercury Systems, there were concerns about how much money the firm needed to fund its strategy of growth through acquisitions. If internally generated funds were not sufficient, should the firm issue debt or have another seasoned equity issue? Students will look at the objectives and success of the most recent seasoned equity issue, determine future funds needs and how the firm should finance these needs. Complexity academic level This case is appropriate for undergraduate and graduate students in corporate finance electives. Typically, topics such as seasoned equity offerings are not covered in introductory courses, so this is recommended for finance electives. Even in advanced finance courses, sometimes there is insufficient time to cover seasoned equity offerings.

Exploration of the Content Design and Assessment System of Statistics Course for Vocational Finance and Economics Majors Based on OBE

In the statistical teaching practice of various majors in economics and management in Chinese universities, there are generally drawbacks such as dull teaching content and weak applicability. How to organically integrate the teaching of statistical theory with practical teaching, and truly cultivate applied talents that meet the needs of regional economic and social development, is a prominent problem faced by the teaching of statistics courses in universities. This article aims to explore the content design and assessment system optimization of statistics courses in higher vocational finance and economics majors based on results oriented education. Through in-depth analysis of the connotation of OBE concept and its guiding significance for vocational education, combined with the characteristics of statistics in finance and economics majors, a series of course content design principles and assessment system reform suggestions are proposed to improve teaching quality, cultivate students' statistical application ability and innovative thinking.

Can instruction in consumer choice theory in introduction to microeconomics benefit student learning in upper-level economics courses? The example of public finance

Does teaching the theory of consumer choice in Introduction to Microeconomics enhance student learning in upper-level economics courses? In this study, a Public Finance course was selected as an example of an upper-level economics course. Results suggest that: (1) it can significantly benefit students in learning Public Finance when students learned about the topic (i.e., theory of consumer choice) in the Introduction to Microeconomics class within one year of enrolling in the Public Finance class; and (2) when the Public Finance instructor reviewed/taught the topic at the beginning of the semester, students who learned about the topic in the Introduction to Microeconomics class within one year of enrolling in the Public Finance class significantly performed better than other students who learned about the topic over one year before enrolling in the Public Finance class or never learned about the topic in the introduction class. Another interesting question emerged: who is responsible for teaching the topic — instructors who teach Introduction to Microeconomics or other faculty? While it seems reasonable to expect those who teach the Introduction to Microeconomics class to do so, some may not agree. We encourage further discussion of this topic among readers.

How to ensure the recovery of family businesses in a crisis situation? Case of the Moroccan family business Maghreb Steel

Learning outcomes After completion of the case study, students will be able to examine the financial implications of Maghreb Steel’s substantial investment in the Blad Assolb complex in 2007 within the restructuring plan; explore how this decision influenced the company’s financial health and strategic position in the steel market, within the context of the restructuring plan; assess the impact of the 2008 economic crisis within the restructuring plan; analyze how the crisis affected the company’s pricing strategies, profitability and overall business strategy; investigate the financial and strategic consequences of the hot rolling activity initiated as a result of the Blad Assolb project within the company’s restructuring plan; and critique how this venture impacted the company’s operations, cost structure and competitiveness in the steel industry, aligned with the restructuring plan. Case overview/synopsis This case study deals with the only flat steel producer in Morocco: Maghreb Steel, the Moroccan family-owned company created in 1975 by the Sekkat family. It was a leading steel company. At the beginning, the company was specialized in the field of steel tubes, but thanks to its growth ambitions, the Sekkat family had made Maghreb Steel a major player in the Moroccan steel sector. In the same logic of development, the top management of Maghreb Steel launched in 2007 in the adventure to create the first production complex of cold rolling in Morocco – an investment that pushed Maghreb Steel to resort to a debt of more than 6bn dirhams (DH) with a consortium of six banks and would have allowed the company a huge leap in growth, except that the decision-makers of the group Sekkat could not see coming the economic crisis of 2008 causing the fall of steel prices by 62% compared to 2007. Thus, from its effective launch in 2010, the activity of hot rolling would become, for the company, a regrettable orientation. Moreover, the national market could not absorb all the production of the complex that the company called Blad Assolb. In response to this difficult situation, Maghreb Steel decided to store its goods to avoid selling at a loss. Faced with this situation of sectoral crisis and deterioration of its activity, Maghreb Steel lost its ability to honor its financial commitments with the banking consortium. From then on, the company became a case of failure, and the recovery measures had not ceased to be duplicated by the various stakeholders: State, Sekkat family, creditors and management of the company, having only one objective in mind: Save Maghreb Steel! This said, the present case study is dedicated to the financial and strategic analysis of the current situation and the evolution of the company throughout the crisis period to finally propose a suitable recovery plan to save Maghreb Steel. Complexity academic level The case study can be taught to students of master’s degrees in financial management as a synthesis of finance courses. It can also be used to train executives and managers working in family businesses as part of professional certification training. Supplementary materials Teaching notes are available for educators only. Subject code CSS 1: Accounting and finance.

Design and application of flipped classroom with online teaching in international finance courses

According to the previous research on online teaching mode, taking international finance course as an example, flipped classroom is applied to online teaching in colleges and pre-class, in-class and after-class design is carried out. This mode of teaching is adopted for students majoring in financial engineering at grade 2021 and traditional mode of teaching is adopted for students majoring in financial engineering at grade 2020. The research findings are as follows: Flipped classroom with online teaching significantly improves students' evaluation of teachers' teaching satisfaction. Although the adoption of this mode also improves the average test score and teaching quality evaluation of this course, the significance is not high, and the impact degree is weaker than that of teaching satisfaction evaluation.

High school financial education courses in the United States.: What is the importance of setting state policies?

Abstract Access to financial education courses makes a difference in high school students’ future financial lives. However, little data have been available to assess the access students have to these classes and what types of financial education are offered throughout the United States. We describe a novel dataset of over 19,000 hand-coded high school personal finance courses for over 7,400 high schools across the United States. These data cover the academic years from 2019–2020 to 2022–2023. The most common type of financial education offered is a semester-long course focused entirely on financial education, rather than, for example, a course on another topic that builds in a section on financial education. Schools that are in rural areas, schools with a higher percentage of Black students and schools that are geographically isolated from peers with high financial education requirements are less likely to require financial education courses for graduation.

Milkbasket takeover by Reliance Retail Venture Limited: the ethical dilemma

Learning outcomes After completion of the case study, the students would be able to comprehend the crisis at hand for Milkbasket, why did it resist Reliance’s takeover in the first place, then to evaluate the pros-cons and future prospects for the organization post-acquisition; to evaluate from an ethical standpoint the process of mergers and acquisitions using ethical frameworks to understand how, when, to whom and through what processes do mergers and acquisitions qualify the test of being ethical; and to analyse different hostile takeovers, especially through tender offers, proxy contests and toehold bidding strategy in this case. Case overview/synopsis Founded in 2015, Milkbasket was a micro-delivery start-up based in Gurugram (near New Delhi), India. Milkbasket would let its subscribers order till midnight and deliver groceries, milk and other everyday essentials to its subscribers before 7 a.m. next day. It had burnt a lot of cash and was facing difficulty in getting investors; as such they were engaged in discussions with many companies. Two of them – Reliance Retail Venture Limited and BigBasket – were not accepting the proposed valuation, but Milkbasket got term sheets from other two companies. Complexity academic level This case study can be used for graduate courses on strategic management, business ethics and corporate governance. This case study can also be used in corporate finance course to highlight the importance of making ethical/responsible judgements to protect stakeholder interests. Supplementary materials Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

Blended learning at scale: co-designing a large postgraduate finance course

PurposeThis paper aims to identify and evaluate resolutions to key learning and teaching challenges in very large courses that involve practical mathematics, such as foundational finance.Design/methodology/approachA design-based research approach is used across three semesters to iteratively identify practical problems within the course and then develop and evaluate resolutions to these problems. Data are collected from both students and teachers and analysed using a mixed-method approach.FindingsThe results indicate that key learning and teaching challenges in large foundational finance courses can be mitigated through appropriate consistency of learning materials; check-your-understanding interactive online content targeting foundational concepts in the early weeks; connection points between students and the coordinator to increase teacher presence; a sustained focus on supporting student achievement within assessments; and signposting relevance of content for the broader program and professional settings. Multiple design iterations using a co-design approach were beneficial to incrementally improve the course and consider multiple perspectives within the design process.Practical implicationsThis paper develops a set of design principles to provide guidance to other practitioners who seek to improve their own courses.Originality/valueThe use of design-based research and mixed-method approaches that consider both student and teacher perspectives to examine the design of very large, foundational finance courses is novel.

Stock buybacks in the spotlight

Theoretical Basis The theoretical basis for the case is information asymmetry and signaling theory, with buybacks providing a mechanism for reducing information asymmetry between management and investors. The controversy surrounding buybacks has led to political and regulatory scrutiny, which, consistent with evidence from academic research, may affect corporate behavior. Research methodology The compact case is based on secondary, public information about stock buybacks. All sources used are cited in-text, with full citations included in the references section at the end of the teaching note. Case Overview/Synopsis Stock buybacks, a means of providing returns to shareholders, have recently received increased scrutiny by politicians, media and shareholder activists. Proponents have argued that buybacks result in efficient allocation of capital by returning funds to shareholders, whereas opponents have criticized buybacks for enriching executives, providing tax advantages to shareholders and contributing to income inequality. Corporations did not curtail their use of buybacks after the Inflation Reduction Act of 2022 imposed an excise tax. The case frames the buyback debate in current events and focuses on the buyback activity of Apple. The case provides students the opportunity to analyze alternative ways that companies can provide returns to shareholders, evaluate impacts of buybacks on corporate stakeholders and appraise the reasons for, and implications of, current controversy regarding buybacks. Complexity/Academic Level This compact case is appropriate for upper-level undergraduate or graduate courses in financial accounting, tax and finance. This case provides an opportunity to analyze and evaluate stock buyback decisions in the context of the current controversy related to buybacks.

Research on the Reform of the Process-Tracking Ideological and Political Assessment System in Applied Universities: Taking the Personal Finance Course as an Example

Using the Xi’an Mingde Institute of Technology students as the teaching object and the Personal Finance course as an example, we explore the reform of the ideological and political assessment system of process-tracking courses in applied universities. The article analyzes the feasibility of applying the curriculum ideological and political assessment system in college courses and compares the traditional assessment system. It also proposes that applying curriculum ideological and political assessment to the college curriculum assessment system will help improve students’ understanding of the “value guidance” in curriculum ideological and political education and enhance the teaching effect.

Asistensi: raising capital for innovation in health insurance, migrants and remittances

Learning outcomes After completion of this case study, students will be able to describe the funding path for start-ups, including the amounts and profiles of the usual investors or sources of funds, according to the moment in their life cycle and the characteristics of the initiative; highlight the challenges faced by start-up founders in weak entrepreneurial ecosystems and risky institutional environments; and argue in favor of or against different modes and typical instruments of venture capital (VC) investments in the early stages of new businesses, each of them different regarding dilutions, valuation potential, depth of negotiations and term sheets. Case overview/synopsis Asistensi, a technology and telemedicine start-up founded in 2020 in Venezuela by three entrepreneurs (Andrés Simón González-Silén, Luis Enrique Velásquez and Armando Baquero), raised US$3m in less than a year in a seed round in which it attracted the attention of professional VC funds such as Mountain Nazca, Alma Mundi Ventures and 468 Capital. Everything was set for launching operations in Mexico and the Dominican Republic in April 2021. However, a series of difficulties led to higher expenditure than planned, prompting the entrepreneurs to seek additional capital. The decision on the financial instrument to be associated with the potential valuation and shareholder dilution figures has been posed as a dilemma. Complexity academic level The case study focuses on understanding the start-up financing process. It can be used effectively in management- and finance-related subjects for graduate students taking introductory topics in entrepreneurship and entrepreneurial finance, as well as introductory executive education courses in entrepreneurship, entrepreneurial finance and VC. Supplementary materials Teaching notes are available for educators only. Subject code CSS3: Entrepreneurship

Automating assessment and evaluation for a bachelor’s degree program

<span lang="EN-US">Outcome-based education (OBE) makes learning happen and measures automating assessment and evaluation system. The objective of the study is to assess student’s learning in International Finance course and report OBE and propose strategies for continual quality improvement (CQI). In this study, a widely accepted self-developed spreadsheet used to measure course learning outcomes (CLO) and program learning outcomes (PLO) of international finance in a bachelor’s degree program of fall 2021. The method of sampling technique is purposive and a sample of 27 students have been considered for the analysis. Using direct method on specific parameters (quiz, assignment, presentation, and exams), an overall CLO attainment has been measured and compared with a targeted key performance indicators (KPI) (70% is set). Findings reveal that the first three out of five CLO have met the standard KPI. However, a CQI has been proposed for further improvement of CLO. Also, future works proposed to instrument CQI processes, engage industry experts and external OBE experts from foreign universities. Program self-assessment is mandatory for quality assurance at university and also preparation for accreditation of the program needs self-assessment. Therefore, CLO is mandatory for assessment and evaluation urgently.</span>