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This study seeks to explore how companies around the world create a culture of innovation by examining common themes that underpin innovation. Through a case study approach, we examined the innovation practices of nine companies and identified six key themes prevalent across all companies: (1) emphasis on research and development; (2) flexibility and adaptability; (3) diversity and inclusion; (4) continuous learning and development; (5) risk‐taking and experimentation; and (6) sustainability. Building on these themes, we propose a new framework for creating a culture of innovation, called the Innovation 360° framework—a systematic approach for companies to understand and build a culture of innovation. Innovation 360° is centered on the core tenets of diversity, inclusion, and sustainability, driven by internal "pull" and external "push" factors of innovation that emphasize flexibility and adaptability, continuous learning and development, and risk‐taking and experimentation. We also discuss the practical benefits and potential drawbacks of the framework. Ultimately, by embracing this framework, companies can improve their innovation capacity and stay ahead of the competition while demonstrating their commitment to social responsibility. However, careful consideration of the framework's potential limitations is necessary to ensure its suitability for different types of companies and industries. [ABSTRACT FROM AUTHOR]

Using the Morlet Wavelet approach and other time‐frequency decomposition techniques, this study investigates the dynamic relationship between energy prices, economic growth, and ecological footprint in Malaysia from 1975 to 2021. Our analysis reveals several key findings. Firstly, despite the absence of oil price volatility, the size of Malaysia's ecological footprint varies significantly over the study period. Secondly, energy prices contribute significantly to the ecological footprint. Thirdly, the association between energy prices and ecological footprint is stronger during periods of economic growth. Lastly, energy prices contribute to economic growth and inflation in the short run, but after factoring in the ecological footprint, the association extends into the long run. These findings suggest that Malaysia's economic growth is driven not only by energy prices but also by its ecological footprint. Moreover, the size of Malaysia's ecological footprint is driven by factors at the microeconomic level rather than energy prices alone. Therefore, the impact of energy prices on the macroeconomy, especially when considering the impact on the environment, is non‐linear. [ABSTRACT FROM AUTHOR]

Energy is one of the prime factors in influencing the sustainable development of a country. Different energy sources play important roles in driving the income growth of different economic sectors such as industrial, agricultural, and services. Fossil fuels, however, have come under strong criticism for actively accelerating climate change. As such, it is imperative to investigate the contributions of various energy sources toward sustainable growth. With Malaysia as the test-bed, the present study analyzes the impact of energy prices on economic stability using the novel wavelet-based analysis. Specifically, the study analyzed the impact of crude oil, natural gas, and gasoline prices on the economic (brown) and green growth from 1995 to 2020. The results show that in continuous wavelet transform, the cone of influence of all five factors exhibits strong short-run variance and fluctuations from 2005 to 2013. However, the intensity of brown growth is more influential than green growth. Similarly, in wavelet coherence graphs, the downward right arrows indicate positively significant associations between crude oil prices, natural gas prices, and gasoline prices with brown and green growth. Additionally, wavelet-based Granger causality reveals a bidirectional causal relationship between all variables. The results thus strongly suggest that energy prices predominantly affect the economic (brown) and green growth progression of the Malaysian economy. The study concludes with some suggested implications to augment the country's sustainable growth. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to investigate the ability of the Islamic gold dinar to hedge against two well-established foreign exchange (FX) risk factors namely, the dollar risk factor and global FX volatility innovations.Design/methodology/approach The paper uses a combination of the Markowitz (1952) portfolio optimization, visual data representations and the classic Fama-Macbeth (1973) two-pass procedure regressions.Findings The findings show that the Islamic gold dinar can serve as a hedge against market volatility, outperforms a diversified currency portfolio, and through its inclusions into the diversified currency portfolio, improve said portfolio’s ability to hedge against market volatility.Research limitations/implications Due to the spread of the sample, country-specific factors could not be taken into account.Practical implications The Islamic gold dinar is a cost-efficient, cost-effective, and Shariah-compliant instrument that provides a solid hedge for investors and/or firms that have financial positions denominated in foreign currencies. Should these investors or firms find it costly to maintain a dinar-only portfolio, including the dinar into their currency portfolios also provides the same benefit, albeit at a lower magnitude.Originality/value This study is timely as the Accounting and Auditing Organization for Islamic Financial Institutions has recently for the first time recognized gold as a Shariah-compliant investment. The findings of this study provide the first look as to how investors and firms can benefit through the use of the Islamic gold dinar in their risk management practices. [ABSTRACT FROM AUTHOR]