The impact of sukuk on corporate financing: Malaysia evidence
A remarkable effect of bond market development on corporate financing is detected among firms in Malaysia en route the study to identify the existence of target capital structure and simultaneously explore firm specific and country specific determinants of target capital structure for firms in Mal...
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| Format: | Article |
| Language: | English |
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IIUM Institute of Islamic Banking and Finance
2012
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| Online Access: | http://irep.iium.edu.my/26251/ http://irep.iium.edu.my/26251/ http://irep.iium.edu.my/26251/1/The_Impact_of_Sukuk.pdf |
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iium-26251 |
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eprints |
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iium-262512013-12-10T05:14:42Z http://irep.iium.edu.my/26251/ The impact of sukuk on corporate financing: Malaysia evidence Haron, Razali Ibrahim, Khairunisah HG Finance HG4001 Financial management. Business finance. Corporation finance. A remarkable effect of bond market development on corporate financing is detected among firms in Malaysia en route the study to identify the existence of target capital structure and simultaneously explore firm specific and country specific determinants of target capital structure for firms in Malaysia. This is argued to be the effect of the phenomenal development of sukuk, or Shariah-compliant bonds in Malaysia. The distinctive effect of bond market development with sukuk element on Malaysian firms shows the substantial influence of country specific factors like bond market development as well as governance incorporate financing decision. Employing the dynamic Partial Adjustment Model estimated based on the Generalized Method of Moments (GMM) estimator using data of nonfinancial listed firms for the period of 2000-2009, this study contributes to the existing literature by highlighting the impact ofa well-developed sukuk in bond market development on corporate financing decision and how good governance can ensure liquid and vibrant bond market as an alternative financial intermediary. This study concludes that several factors significantly influence target capital structure and the element of sukuk in bond market in Malaysia coupled with good governance have a substantial impact on corporate financing decision among firms in Malaysia IIUM Institute of Islamic Banking and Finance 2012 Article PeerReviewed application/pdf en http://irep.iium.edu.my/26251/1/The_Impact_of_Sukuk.pdf Haron, Razali and Ibrahim, Khairunisah (2012) The impact of sukuk on corporate financing: Malaysia evidence. Journal of Islamic Finance, 1 (1). pp. 1-11. ISSN 2289-2117 (O), 2289-2109 (P) http://www.iium.edu.my/iiibf/research-publication/journal-1 |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English |
| topic |
HG Finance HG4001 Financial management. Business finance. Corporation finance. |
| spellingShingle |
HG Finance HG4001 Financial management. Business finance. Corporation finance. Haron, Razali Ibrahim, Khairunisah The impact of sukuk on corporate financing: Malaysia evidence |
| description |
A remarkable effect of bond market development on corporate financing is detected among firms in Malaysia en route
the study to identify the existence of target capital structure and simultaneously explore firm specific and country
specific determinants of target capital structure for firms in Malaysia. This is argued to be the effect of the
phenomenal development of sukuk, or Shariah-compliant bonds in Malaysia. The distinctive effect of bond market
development with sukuk element on Malaysian firms shows the substantial influence of country specific factors like
bond market development as well as governance incorporate financing decision. Employing the dynamic Partial
Adjustment Model estimated based on the Generalized Method of Moments (GMM) estimator using data of nonfinancial
listed firms for the period of 2000-2009, this study contributes to the existing literature by highlighting the
impact ofa well-developed sukuk in bond market development on corporate financing decision and how good
governance can ensure liquid and vibrant bond market as an alternative financial intermediary. This study concludes
that several factors significantly influence target capital structure and the element of sukuk in bond market in Malaysia
coupled with good governance have a substantial impact on corporate financing decision among firms in Malaysia |
| format |
Article |
| author |
Haron, Razali Ibrahim, Khairunisah |
| author_facet |
Haron, Razali Ibrahim, Khairunisah |
| author_sort |
Haron, Razali |
| title |
The impact of sukuk on corporate financing: Malaysia
evidence |
| title_short |
The impact of sukuk on corporate financing: Malaysia
evidence |
| title_full |
The impact of sukuk on corporate financing: Malaysia
evidence |
| title_fullStr |
The impact of sukuk on corporate financing: Malaysia
evidence |
| title_full_unstemmed |
The impact of sukuk on corporate financing: Malaysia
evidence |
| title_sort |
impact of sukuk on corporate financing: malaysia
evidence |
| publisher |
IIUM Institute of Islamic Banking and Finance |
| publishDate |
2012 |
| url |
http://irep.iium.edu.my/26251/ http://irep.iium.edu.my/26251/ http://irep.iium.edu.my/26251/1/The_Impact_of_Sukuk.pdf |
| first_indexed |
2018-09-07T04:55:50Z |
| last_indexed |
2018-09-07T04:55:50Z |
| _version_ |
1610923272820490240 |