The concept of sustainability has been widely implemented in various organizations. This research aims to develop a theory of implementing the concept of sustainability in non-business organizations, namely, institutes of higher education of Indonesia. The methods used in this research are literature review and content analysis of reports of universities that have implemented the concept of sustainability within their organizations. This research consists of two main parts in which the first part focuses on drafting concepts for implementing sustainability in higher education institutions, and the second part discusses ways to establish a sustainable university. The results of this research will aid in compiling and developing our motive. The resulting concept will consist of three main stages and it can be used as a guideline for universities that will implement the concept of sustainability. This research will frame the policy that can be applied to form a sustainable university and identify obstacles and challenges for the same.
Conventional finance suggests that the higher the risk of an investment, the higher the return it should give. Nevertheless, whether Islamic stocks that offer alternative investment in the stock market suggest different risk-return relationship still needs to be investigated. This empirical study is aimed at assessing risk-return behavior of Islamic stocks. This study employs cross sectional data of portfolio developed using beta-rank and market capitalization, in which daily data will better reflect the real volatility. This study also measures volatility of both conventional and Islamic stocks using Value-at-Risk (VaR). To check whether Islamic stocks are immune from any impact of financial crisis, this study utilizes three periods of observation, i.e., before, during and after the 2008 crisis. This study assesses risk and return using Multi-index model, in which variables tested are the respective fundamental factors. Results of this study will provide more accurate approach in Islamic stocks analysis.
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