ABSTRACT
Yousef argues that few studies have been conducted on the effects of ethical Islamic work. This chapter aims to answer the question, “What is the impact of market Islam on the performance of MUSIAD member firms?” It studies the concept of “market Islam” before examining the relationship between religion and firm performance. The chapter uses 119 completed questionnaires from members of MUSIAD, the Turkish employers’ association, to analyze the interpenetration of religious order and economic order. Max Weber presents Islam as a warrior religion that has produced an ethic fundamentally incompatible with the spirit of capitalism. This notion has been refuted by studying the influence of religion on Muslim communities in its historicity and contextuality. The chapter understands the link between market Islam and the performance of firms belonging to MUSIAD, an employers’ organization in Turkey. It concludes with a discussion of our results and the potential avenues for future research.
