Profit Sharing: A Contracting Solution to Harness the Wisdom of the Crowd

2017 ◽  
Author(s):  
Jiasun Li
Keyword(s):  
Profit Sharing

Civilization stress, cardiovascular risk, evidence based medicine, guideline

2009 ◽  
Vol 150 (19) ◽  
pp. 895-902 ◽  
Author(s):  
Kornél Simon
Keyword(s):  
Cardiovascular Risk ◽  
Cardiovascular Diseases ◽  
Chronic Stress ◽  
Randomized Clinical Trials ◽  
Decisive Role ◽  
Profit Sharing ◽  
Pole Position ◽  
Ethical Question ◽  
Drug Sale ◽  
Target Values

Cardiovascular diseases have the pole-position on the list of morbidity and mortality statistics. Despite the great advances have been made in management of cardiovascular diseases, prevalence of these disorders increases worldwide, and even younger and younger ages are threatened. This phenomenon is strongly related to obesity and type 2 diabetes pandemic, which shows an unequivocal association with expansion of modernized life-style. The pathomechanism proposed to have central role is the chronic stress induced by civilized life-conduct. The authors criticizes the everyday practice suggested for management of cardiovascular diseases, focusing on normalization of cardiovascular risk factors, instead of fighting against the primary cause ie. chronic stress. There is growing evidence, that achieving the target values defined in guide-lines will not necessarily result in improvement of patient related clinical outcomes. The statistical approach generally practiced in randomized clinical trials is primarily striving for the drug-sale, instead of discovering novel pathophysiological relations. Pharmaceutical industry having decisive role in research and patient-care is mainly interested in profit-sharing, therefore patients’ interest can not be optimally realized, and costs are unnecessarily augmented. Separation of patient-, and business-oriented medical care is an ethical question of fundamental importance.

RELASI SOSIO-EKONOMI PETANI DENGAN PEMILIK LAHAN MELALUI KONSEP MUKHĀBARAH DAN MUZĀRA‘AH DI DESA ARANG LIMBUNG KECAMATAN SUNGAI RAYA KABUPATEN KUBU RAYA

2017 ◽  
Vol 12 (2) ◽  
pp. 425
Author(s):  
Rasiam Rasiam
Keyword(s):  
Economic Cooperation ◽  
Profit Sharing ◽  
Sufficient Time ◽  
Doing Business ◽  
The Common ◽  
Social Consideration

This writing addresses the practice of mukhabarah and muzara’ah in cultivating farms in Arang Limbung village, Sungai Raya district, Kubu Raya regency. Socioeconomic cooperation between farmhands and land lords constitute a mutual symbiosis; by cooperating they can handle the problems of cultivating farms. Landlords do not have sufficient time and skill to cultivate their farms while farmhands do not have land to plough. Consequently, they must collaborate through the concept of mukhabarah and muzaraah in which the profit sharing is according to the common agreement. This socioeconomic cooperation is based on trust and fair profit sharing that include: first, the basis of this cooperation is to help each other instead of doing business; and second, the profit sharing is according to farms production. Thus, this collaboration is not only based on profit objectives but social consideration as well. Keywords: Mukhābarah, muzāra‘ah, socio economic cooperation.

Analisis Kontrak Ijarah

2018 ◽  
Vol 4 (2) ◽  
pp. 201-213
Author(s):  
Puji Kurniawan
Keyword(s):  
Financial Institutions ◽  
Profit Sharing ◽  
Fundamental Difference ◽  
Human Needs ◽  
The People ◽  
Islamic Financial Institutions

Humans are social creatures who need each other to socialize or to fulfill their needs, such as primary, secondary and tertiary needs. In this life there are 2 (two) groups of people, namely groups of people who are overfunded and those who are underfunded. Therefore, banks and non-bank financial institutions have emerged as intermediaries between the 2 (two) groups of the people so that the balance can occur in meeting the needs of each life. In Indonesia, there are many conventional and sharia bank and non-bank financial institutions that provide financing services to meet human needs. The fundamental difference between conventional and Islamic financial institutions is the use of the interest system which is usury in conventional financial institutions and the use of profit sharing systems in Islamic financial institutions.

Muhammad Nejatullah Siddiqui. Issues in Islamic Banking: Selected Papers, Leicester: The Islamic Foundation. 1983 , I 52pp.Author and Subject Indexes.

1983 ◽  
Vol 22 (1) ◽  
pp. 57-61
Author(s):  
Shahrukh Rafi Khan
Keyword(s):  
Analytical Model ◽  
Significant Contribution ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Current State ◽  
The Subject ◽  
Made In

The book under review is a compilation of the author's articles and lectures that highlight the prominent developments in the literature on the subject of Islamic banking and inform the reader of the current state of debate on it. One of the earliest and main contributors to this topic is the author himself. The focus of this review will mainly be on "Economics of Profit-Sharing", which is the title of the fourth chapter of the book and is among his latest contributions. This chapter is a significant contribution as it is the first attempt to formalise the concept of profit sharing into an analytical model and, therefore, demands closer scrutiny. However, in the remaining chapters of the book, the author has drawn attention to some of the fine points made in the literature on this topic. Since some of these points appear to be controversial to me, I will briefly discuss them before moving on to the analytical chapter of the book.

BAI’ BITHAMAN AJIL, ALTERNATIF PEMBIAYAAN PERUMAHAN PADA PERBANKAN SYARIAH

2017 ◽  
Vol 13 (1) ◽  
pp. 19-26
Author(s):  
Lily Rahmawati Harahap
Keyword(s):  
National Economy ◽  
Profit Sharing ◽  
Significant Enhancement ◽  
Basic Principles ◽  
Stable Economy

During this recent two decades, national economy sharia continiue growth.Though it just still smaller compare to the existing of conventional finance, itconscioused the growth of sharia finance currently has a significant enhancement. Thepositive and stable economy performance has given good opportunities to thedevelopment of sharia economy in Indonesia. The existence of syariah economy inIndonesia, who has a muslim mayority, is a new point of national economy history.Sharia banking is one of the tools for developing national economy sharia. Manyproducts offered by national sharia banking, which includes basic principles ofimplementation with profit sharing. One of them is Bai’ Bithaman Ajil, which is the partof trading (Baiah). Bai’ Bithaman Ajil product is expected as an alternative for society tochoose sharia banking as a mediator in transaction, specially to fulfill production needsas well as consumption needs, whose transactions are done on a long-term credit.

A Dynamic Investment Model with Profit-Sharing in an Interest-Free Economy

1991 ◽  
Vol 8 (1) ◽  
pp. 109-127
Author(s):  
Zaidi Sattar
Keyword(s):  
Optimal Investment ◽  
Integrated Approach ◽  
Building Blocks ◽  
Profit Sharing ◽  
Comparative Statics ◽  
Investment Model ◽  
Financial Contracts ◽  
Endogenous Variables ◽  
Rate Of Profit ◽  
Component Models

The present paper is a contribution to the building blocks of an investmentmodel within the framework of an integrated macroeconomic model of anIslamic economy. Investment behavior in the model is guided by an Islamicethicalvalue system and profit-sharing financial contracts. The typical firm’sinvestment decision is believed to emerge from a dynamic inter-temporalmaximization exercise within an infinite time horizon. The method of Calculusof Variations is applied to arrive at the optimal investment and employmentcriteria for the firm. The result is then incorporated into a macroeconomicmodel to study the behavior of key endogenous variables like national incomeand the rate of profit-share. Comparative statics exercised within a generalequilibrium framework reveal the potency of monetary policy but the neutralityof fiscal policy with respect to output and employment.IntroductionThe past decade has witnessed a tremendous outpouring of interest aswell as effort in the formalization of economic models based on profit-sharingfinancial arrangements as an Islamic alternative to the conventional interestbasedeconomic system. Several macroeconomic models for interest-freeeconomies have been proposed (Anwar 1987; Habibi 1987; Metwally 1981& 1983). The rigor of an integrated approach to such macroeconomic modelhgdepends on the rigor of the component models, namely, the consumption,investment, monetary, and fiscal relationships. Economists have writtenextensively on different aspects of consumer behavior in Islamic societies.Kahf (1978) and Khan (1984), among others, have contributed to the conceptualand analytical formulation of the consumption function under ...

PENERAPAN ASAS KEADILAN PADA TRANSAKSI PENYIMPANAN DANA NASABAH DI BANK SYARIAH BERDASARKAN AKAD MUDHARABAH

2020 ◽  
Vol 5 (1) ◽  
pp. 1-12
Author(s):  
SITI NUR SHOIMAH
Keyword(s):  
Profit Sharing ◽  
Islamic Banking ◽  
Business Activity ◽  
Legal Research ◽  
Conceptual Approach ◽  
Islamic Bank ◽  
Principle Of Justice

ABSTRAK This research is motivated by the fact that it does not include clauses related to the risk of the Bank or the Customer in the mudharabah agreements in the customer deposit funds in Islamic Banking (Sharia Banking), if at any time the business of managing a Islamic Bank fund suffers, even though there are also Customer funds in the business, and it’s not balanced, because maybe only one party, the Customer or the Bank, bears the risk of loss. This imbalance then causes injustice, even though justice is a shariah requirement in the distribution of results from a business activity. Research that uses the normative legal research with the statute approach, and conceptual approach, results in the finding that the principle of justice in customer deposit funds in Islamic Banking based on mudharabah agreements is realized in the form of profit sharing system in the form of proportional and balanced benefits and risks.   Keyword: Principle of Justice, Mudharabah Agreements, Customer Deposit Fund, Islamic Banking   ABSTRAK Penelitian ini dilatarbelakangi oleh fakta yang menunjukkan tidak dicantumkannya klausul terkait resiko Bank ataupun Nasabah di dalam akad mudharabah pada transaksi penyimpanan dana Nasabah di Bank Syariah, apabila suatu ketika usaha dari pengelolaan dana Bank Syariah mengalami kerugian, padahal di dalam usaha tersebut juga terdapat dana Nasabah, dan ini tentu tidak seimbang, karena dimungkinkan hanya pihak Nasabah Penyimpan atau Bank Syariah yang menanggung resiko atas kerugian tersebut. Ketidakseimbang inilah yang kemudian menimbulkan adanya ketidakadilan, padahal keadilan merupakan persyaratan syari’ah dalam pembagian hasil dari suatu kegiatan usaha. Penelitian yang menggunakan metode normatif dengan pendekatan perundang-undangan dan pendekatan konseptual ini, menghasilkan temuan bahwa asas keadilan pada transaksi penyimpanan dana Nasabah di Bank Syariah berdasarkan akad mudharabah diwujudkan dalam bentuk sistem bagi hasil berupa keuntungan dan resiko secara proporsionalitas dan seimbang.        Kata Kunci:Asas Keadilan,  Akad Mudharabah, Penyimpanan Dana Nasabah, Bank Syariah  

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