Analysis of pottery samples from Bourewa, the earliest known Lapita site in Fiji

We have carried out a thorough mineralogical analysis of 16 pottery samples from the Lapita site of Bourwera in Fiji, using micromorphological techniques with optical and polarising microscopes. While the overall mineralogy of all of the samples is similar the samples clearly divide into two groups, namely those with or without the mineral calcite. Our findings are backed up by chemical analysis using SEM–EDX and FTIR. SEM–EDX shows the clear presence of inclusions of calcite in some of the samples; FTIR shows bands arising from calcite in these samples. The study suggests that it is likely that more than one clay source was used for production of this pottery, but that most of the pottery comes from a single source. This finding is in line with previous studies which suggest some trading of pottery between the Fijian islands but a single source of clay for most of the pottery found at Bouwera. We found no evidence for the destruction of CaCO3 by heating upon production of the pottery in line with the known technology of the Lapita people who produced earthenware pottery but not high temperature ceramics.

Architecture, sedentism, and social complexity at Pre-Pottery Neolithic A WF16, Southern Jordan

Recent excavations at Pre-Pottery Neolithic A (PPNA) WF16 in southern Jordan have revealed remarkable evidence of architectural developments in the early Neolithic. This sheds light on both special purpose structures and “domestic” settlement, allowing fresh insights into the development of increasingly sedentary communities and the social systems they supported. The development of sedentary communities is a central part of the Neolithic process in Southwest Asia. Architecture and ideas of homes and households have been important to the debate, although there has also been considerable discussion on the role of communal buildings and the organization of early sedentarizing communities since the discovery of the tower at Jericho. Recently, the focus has been on either northern Levantine PPNA sites, such as Jerf el Ahmar, or the emergence of ritual buildings in the Pre-Pottery Neolithic B of the southern Levant. Much of the debate revolves around a division between what is interpreted as domestic space, contrasted with “special purpose” buildings. Our recent evidence allows a fresh examination of the nature of early Neolithic communities.

Attic pottery in early Classical Thessaly. A case study from Achaia Phthiotis

This paper attributes a previously unnoticed Attic black-figured lekythos kept in the Archaeological Museum of Volos to the Pholos Group (ca. 470 BC) and discusses its findspot in the peripheral Thessalian district of Achaia Phthiotis. Beyond an art-historical appreciation of the hastily-drawn chariot scene on this lekythos and a discussion of stylistic parallels, which include a lekythos in Prague, it is argued that such lekythoi were socially important for their shape and small size that made them easily transportable. The assumed scarcity of Attic pottery in Thessaly can be questioned given that a considerable amount of Attic pottery from Thessalian locations is mentioned only in passing or remains unpublished in museum storage. Small late black-figured lekythoi predominate amongst Attic pottery shapes in Thessaly. The popularity of such lekythoi can become indicative of human mobility across the landscape and the consumption of imported (grave) goods by social groups other than elites.

Islamic mutual funds' financial performance and international investment style: evidence from 20 countries

We pursue the first large-scale investigation of a strongly growing mutual fund type: Islamic funds. Based on an unexplored, survivorship bias-adjusted data set, we analyse the financial performance and investment style of 265 Islamic equity funds from 20 countries. As Islamic funds often have diverse investment regions, we develop a (conditional) three-level Carhart model to simultaneously control for exposure to different national, regional and global equity markets and investment styles. Consistent with recent evidence for conventional funds, we find Islamic funds to display superior learning in more developed Islamic financial markets. While Islamic funds from these markets are competitive to international equity benchmarks, funds from especially Western nations with less Islamic assets tend to significantly underperform. Islamic funds’ investment style is somewhat tilted towards growth stocks. Funds from predominantly Muslim economies also show a clear small cap preference. These results are consistent over time and robust to time varying market exposures and capital market restrictions.

How Islamic is al-Qaeda? The politics of Pan-Islam and the challenge of modernisation

This article investigates the contested ideology of al-Qaeda through an analysis of Osama bin Ladin’s writings and public statements issued between 1994 and 2011, set in relation to the development of Islamic thought and changing socio-political realities in the late nineteenth and twentieth centuries. Challenging popular conceptions of Wahhabism and the “Salafi jihad”, it reveals an idealistic, Pan-Islamic sentiment at the core of his messages that is not based on the main schools of Islamic theology, but is the result of a crisis of meaning of Islam in the modern world. Both before and after the death of al-Qaeda’s iconic leader, the continuing process of religious, political and intellectual fragmentation of the Muslim world has led to bin Ladin’s vision for unity being replaced by local factions and individuals pursuing their own agendas in the name of al-Qaeda and Islam.

Spiritual capital: the co-evolution of an ethical framework based on Abrahamic religious values in the Islamic tradition

Purpose – The aim of this paper is to investigate how values from within Abrahamic religions could be adopted to improve liberal market economies’ (LMEs’) corporate governance business practices. Design/methodology/approach – The concept of spiritual capitalism is explained from an Islamic perspective by adopting three universal Abrahamic values to critically analyse LMEs and offer an ethical alternative to current capitalism concerns. Findings – It is found that LMEs can be improved by considering all stakeholders, putting ethics before economics, and introducing shared risk/reward plus lower debt. Originality/value – The paper compares LMEs/Co-ordinated market economies (CMEs)/Islamic countries economies (ICEs) within an ethical framework for LMEs.

A review of Islamic mutual funds’ financial performance and investment style in Muslim and non-Muslim countries

Islamic finance has grown beyond its reputation of providing small-scale banking options and now provides investment and financing options for complex large-scale commercial transactions. Islamic investments are one area that has attracted the attention of investors due to its performance, especially during the economic downturn. The Shari’ah compliance nature of Islamic funds provides an opportunity for those Muslim investors to be part of the global investment sector who have previously been reluctant to invest in conventional mutual funds. The fact that the funds’ managers are prohibited from investing in activities such as weapons production, alcohol production and interest-bearing finance operations, makes Islamic mutual funds also attractive for those Non-Muslim investors who wish to invest ethically. Today there are hundreds of Islamic equity indices offered by Dow Jones, FTSE, MSCI and S&P. Despite the growing importance of Islamic funds, there have been limited studies exploring the performance of Islamic funds worldwide. Due to very limited data sets and not too rigorous analytical methods, these existent studies have neither investigated Islamic funds’ financial performance in noticeable detail nor analysed the investment style of more than six funds. For instance, relevant questions such as the financial performance of Islamic mutual funds’ beyond their investment styles or a difference in performance between funds from Muslim and non-Muslim countries have nearly not been investigated at all. Very recently, a study by Hoepner, Rammal and Rezec (2011) analysed the financial performance and investment style of 262 Islamic equity funds from 20 countries in five regions (Africa, Asia-Pacific, Europe, Gulf Cooperative Council-GCC, and North America). As comparison, previous studies did not even analyse 60 funds. Hoepner et al.’s study sampled a period of two decades and was therefore able to test the performance of the funds during economic booms as well as economic downturns. The findings of the study provide new insights into the performance of Islamic mutual funds in Muslim and Western markets and during financial crisis.

Dating WF16: exploring the chronology of a Pre-Pottery Neolithic A settlement in the Southern Levant

A pre-requisite for understanding the transition to the Neolithic in the Levant is the establishment of a robust chronology, most notably for the late Epi-Palaeolithic and Pre-Pottery Neolithic A (PPNA) periods. In this contribution we undertake a dating analysis of the Pre-Pottery Neolithic site of WF16, southern Jordan, drawing on a sample of 46 AMS 14C dates. We utilise Bayesian methods to quantify an old wood effect to provide an offset that we factor into chronological models for a number of individual structures at WF16 and for the settlement as a whole. In doing so we address the influence of slope variations in the calibration curve and expose the significance of sediment and sample redeposition within sites of this nature. We conclude that for the excavated deposits at WF16 human activity is likely to have started by c. 11.84 ka cal bp and lasted for at least c. 1590 years, ceasing by c. 10.24 ka cal bp. This is marked by a particularly intensive period of activity lasting for c. 350 years centred on 11.25 ka cal bp followed by less intensive activity lasting a further c. 880 years. The study reveals the potential of WF16 as a laboratory to explore methodological issues concerning 14C dating of early Neolithic sites in arid, erosional environments.

Croft Moraig and the chronology of stone circles

The Perthshire stone circle of Croft Moraig was excavated 40 years ago and is usually taken to illustrate the classic sequence at such monuments in Britain. A timber setting, accompanied by a shallow ditch, was replaced by two successive stone settings. The pottery associated with the earliest construction was dated to the Neolithic period. A new analysis of the excavated material suggests that, in fact, the ceramics are Middle or Late Bronze Age. They provide a terminus post quem for at least one of the stone settings on the site. Further study of the evidence suggests an alternative sequence of construction at Croft Moraig, involving a change in the axis of the monument. It seems possible that other stone and timber circles were equally late in date and that their period of use in Britain and Ireland may have been longer than is generally supposed.