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A Survey on the objective of the firm and models of producer behavior in the Islamic framework

Abdullah Yusof, Selamah and Mohd Amin, Ruzita (2007) A Survey on the objective of the firm and models of producer behavior in the Islamic framework. J.KAU: Islamic Econ, 20 (2). pp. 3-16.

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Abstract

This paper presents a review of related works that have been written over the years on the objective of the firm from the Islamic perspective. For the purpose of analysis, a general framework on proper economic conduct and objective of economic order as discussed by al-Ghazali and Maududi, respectively is provided. Several studies that provide mathematical models to explain the producer behavior are further examined in a separate section. Our analysis finds that, in general, the arguments provided in justifying the objective of the firm as found in the various studies have the Islamic framework in mind. The theoretical models that have been developed can be used as a basis to formulate a more comprehensive model on Islamic producer behavior that provides more rigor and robustness to the analysis.

Item Type: Article (Journal)
Additional Information: 301/3360
Uncontrolled Keywords: Firm; Producer behaviour in Islamic framework; al-Ghazali; al-Maududi
Subjects: B Philosophy. Psychology. Religion > BJ Ethics > BJ1188 Religious ethics
B Philosophy. Psychology. Religion > BL Religion
B Philosophy. Psychology. Religion > BP Islam. Bahaism. Theosophy, etc > BP1 Islam > BP173.75 Islam and economics
H Social Sciences > HB Economic Theory > HB131 Methodology.Mathematical economics. Quantitative methods
H Social Sciences > HB Economic Theory > HB201 Value. Utility
H Social Sciences > HB Economic Theory > HB221 Price
H Social Sciences > HB Economic Theory > HB238 Competition. Production. Wealth
H Social Sciences > HB Economic Theory > HB522 Income. Factor shares.Interest.Profit.Entrepreneurship
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Economics
Depositing User: Dr Selamah Abdullah Yusof
Date Deposited: 10 Oct 2011 15:56
Last Modified: 10 Oct 2011 15:56
URI: http://irep.iium.edu.my/id/eprint/3360

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