The woodcraft industry has been developing in Bali for more than half a century in the form of family business (SMEs) which is currently managed by the third generation or the transition from the second to the third generation, where this phase is the climax of the family business. Apart from contributing to tourism, this craft business also has cultural values. Moreover, the tourism situation and macroeconomic shocks have had an impact on business conditions. This research aims to analyze the performance of a woodcraft family business based on a family and financial approach, through a two by two matrix analysis as well as to analyze the determining factors of willingness to succession of woodcraft family business in Bali, with MICMAC analysis. The results show that the performance of the family business in this case is high emotional but low financial capital. There are 18 identified factors related to the willingness to succeed in the woodcraft family business, and the most influential factor (existing and forecasting) is the participative leadership style, while the most dependent is personal interest which is the involvement of the successor from an early age in family business activities.

This paper examines the selectivity and market timing abilities of Islamic fund managers in the Kingdom of Saudi Arabia (KSA), since the empirical research has yet to explore the profitability and investment risk factors involved. We use a uniquely large set of data for 134 Islamic funds for a period from June 2002 to December 2019, and this was free from any survival bias. We found that Islamic fund managers in the KSA demonstrated good selectivity skills but no market timing ability. We also found that Islamic fund managers in the KSA tend to select companies with aggressive investment patterns despite their low profitability.