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Human Capital Accountability and Construct: Evidence from Islamic Microfinance Institutions in Malaysia

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  • Kamaluddin, Amrizah
  • Kassim, Nawal
  • Alam, Md. Mahmudul

    (Universiti Utara Malaysia)

  • Abu Samah, Siti Akmar

Abstract

To identify the human capital construct that significantly relates to the performance of Islamic organizations, this study obtained data from Islamic microfinance organizations in Malaysia using the survey questionnaire method. In addition, we interviewed renowned scholars in the fields of Islamic accounting and Shariah law. Consequently, this study proposes an extended model of human capital that is applicable to Islamic organizations. Apart from knowledge and competency, this study includes spiritual value as another construct of human capital in Islamic organizations. Knowledge includes ideas that are relevant to the accounting and auditing spectra, as well as Shariah principles and jurisprudence. By contrast, competency refers to the ability to innovate unique Shariah-compliant products that are rare and difficult to imitate. Meanwhile, spiritual values embrace the elements of “Siddiq,” “Amanah,” “Fathonah,” and “Tabligh.” This study affirms that knowledge, competency, and satisfaction are the most significant constructs of human capital that explain performance. Factor analysis indicates that spiritual value is embedded in and forms part of the human capital construct. Hence, spiritual value is a key element in company culture and contributes significantly to organizational success. This model can be a platform for human capital reporting in the relevant Islamic and conventional organizations.

Suggested Citation

  • Kamaluddin, Amrizah & Kassim, Nawal & Alam, Md. Mahmudul & Abu Samah, Siti Akmar, 2019. "Human Capital Accountability and Construct: Evidence from Islamic Microfinance Institutions in Malaysia," SocArXiv 962yu_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:962yu_v1
    DOI: 10.31219/osf.io/962yu_v1
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    References listed on IDEAS

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    1. repec:eme:marpps:10222529200500018 is not listed on IDEAS
    2. repec:eme:hppsss:v:28:y:2012:i:1:p:64-75 is not listed on IDEAS
    3. Soheil Kazemian & Rashidah Abdul Rahman & Zuraeda Ibrahim, 2014. "Measuring level of market orientation for an Islamic microfinance institution case study of Amanah Ikhtiar Malaysia (AIM)," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 6(3), pages 258-277, November.
    4. Amrizah Kamaluddin & Rashidah Abdul Rahman, 2013. "The intellectual capital model: the resource-based theory application," International Journal of Learning and Intellectual Capital, Inderscience Enterprises Ltd, vol. 10(3/4), pages 294-313.
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