Exploring the integration of mato-based profit-sharing accounting in cooperative and sharia-compliant frameworks: A systematic literature review
DOI:
https://doi.org/10.35335/kmqy6m60Keywords:
Cooperative principles, Ethical finance, Mato-based accounting, Profit-sharing arrangements, Sharia-compliant financeAbstract
This study conducts a systematic literature evaluation on the incorporation of Mato-based profit-sharing accounting in cooperative and Sharia-compliant systems. Mato-based accounting, which is grounded on Japanese management principles, places a strong emphasis on openness, accountability, and fair distribution of profits. This paper examines the feasibility, difficulties, and potential benefits of incorporating Mato-based accounting in various organizational settings, using cooperative principles and Sharia-compliant finance as a foundation. The findings indicate that Mato-based accounting has a considerable capacity to conform to the cooperative principles of democratic governance and member engagement, as well as the Sharia values of risk-sharing, ethical investing, and prohibition of interest. Nevertheless, there are obstacles like as cultural adaption, regulatory limits, and organizational inertia that emphasize the necessity for joint endeavors, capacity-building initiatives, and policy reforms to promote the implementation of Mato-based accounting principles. Potential areas for further research encompass empirical investigations into the effects of Mato-based accounting procedures, cultural assimilation in non-Japanese contexts, interdisciplinary studies, and practical recommendations for implementation. In summary, this research enhances our comprehension of Mato-based profit-sharing accounting and its impact on cooperative governance and Islamic finance. It has the potential to influence theory, practice, and policy..
Research Highlights:
- Alignment with Cooperative Principles: The systematic literature review reveals significant alignment between Mato-based profit-sharing accounting and cooperative principles, emphasizing democratic control, member participation, and equitable benefit sharing within organizational frameworks.
- Compatibility with Sharia-Compliant Finance: Findings indicate that Mato-based accounting principles are compatible with Sharia-compliant finance, promoting risk-sharing, ethical investment, and adherence to Islamic principles of finance, thus offering opportunities for ethical and inclusive financial practices.
- Challenges and Opportunities: While challenges such as cultural adaptation, regulatory constraints, and organizational inertia exist, collaborative efforts, capacity-building initiatives, and policy reforms offer pathways for advancing the adoption of Mato-based accounting principles in cooperative and Sharia-compliant contexts.
- Future Research Directions: Future research avenues include empirical studies on the outcomes of Mato-based accounting practices, cultural adaptation in non-Japanese settings, interdisciplinary research, and the development of practical guidelines for implementation, offering opportunities to deepen understanding and promote innovation in cooperative governance and Islamic finance.
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