CEO’s social capital and performance of zakat institutions: Cross-country evidence

Muhammad Fahmi Syakir, Tastaftiyan Risfandy and Irwan Trinugroho

Journal of Behavioral and Experimental Finance, 2021, vol. 31, issue C

Abstract: We investigate whether the performance of zakat institutions is affected by the social capital of their CEO. Using data of 92 zakat institutions from 42 countries between 2016 and 2018, we empirically find a positive association between CEO’s social capital and institutions’ performance. However, we further find that the effect is reduced in the large zakat institutions, suggesting the importance of the CEO’s social capital for a small organization. The result of this paper advocates zakat institutions to hire a CEO with a high profile of social capital. Our result is robust across different proxies of social capital, the institution’s performance, and various battery of robustness.

Keywords: Social capital; Zakat institution; Non-profit organization; Performance (search for similar items in EconPapers)
JEL-codes: I39 L31 Z12 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:beexfi:v:31:y:2021:i:c:s2214635021000654

DOI: 10.1016/j.jbef.2021.100521

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