The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs
This study suspects that relying on the current Shariah screening process on financial aspects by Shariah Advisory Council of Malaysia may be not sufficient as the two important ratios which are Debt ratio and ARTA ratio highlighted by Council of Islamic Fiqh Academy (CIFA) are not being used. The s...
| Main Authors: | , , |
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| Format: | Proceeding Paper |
| Language: | English English English English |
| Published: |
2013
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| Online Access: | http://irep.iium.edu.my/73912/ http://irep.iium.edu.my/73912/3/IRIE%202013%20-%20Certificate%20Nor%20Azizan%20Che%20Embi.pdf.pdf http://irep.iium.edu.my/73912/1/IRIE%202013%20-%20Nor%20Azizan%20Che%20Embi.pdf http://irep.iium.edu.my/73912/13/73912%20%20The%20impact%20of%20shariah-compliance.pdf http://irep.iium.edu.my/73912/14/73912%20certificate.pdf |
| _version_ | 1848787880095252480 |
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| author | Che Embi, Nor Azizan Rahim, Ruzita Ibrahim, Izani |
| author_facet | Che Embi, Nor Azizan Rahim, Ruzita Ibrahim, Izani |
| author_sort | Che Embi, Nor Azizan |
| building | IIUM Repository |
| collection | Online Access |
| description | This study suspects that relying on the current Shariah screening process on financial aspects by Shariah Advisory Council of Malaysia may be not sufficient as the two important ratios which are Debt ratio and ARTA ratio highlighted by Council of Islamic Fiqh Academy (CIFA) are not being used. The study observed 347 Shariah-compliant companies and 37 non-compliant Shariah companies that issued IPOs from January 1999 until December 2008. Obviously, when the Shariah IPOs samples are ranked based on the level of extensiveness, the difference in the initial returns between the most extensive Shariah IPOs and non-Shariah compliant IPOs prevails. |
| first_indexed | 2025-11-14T17:31:57Z |
| format | Proceeding Paper |
| id | iium-73912 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English English English |
| last_indexed | 2025-11-14T17:31:57Z |
| publishDate | 2013 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-739122019-08-23T02:35:20Z http://irep.iium.edu.my/73912/ The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs Che Embi, Nor Azizan Rahim, Ruzita Ibrahim, Izani HG4501 Stocks, investment, speculation This study suspects that relying on the current Shariah screening process on financial aspects by Shariah Advisory Council of Malaysia may be not sufficient as the two important ratios which are Debt ratio and ARTA ratio highlighted by Council of Islamic Fiqh Academy (CIFA) are not being used. The study observed 347 Shariah-compliant companies and 37 non-compliant Shariah companies that issued IPOs from January 1999 until December 2008. Obviously, when the Shariah IPOs samples are ranked based on the level of extensiveness, the difference in the initial returns between the most extensive Shariah IPOs and non-Shariah compliant IPOs prevails. 2013-02 Proceeding Paper NonPeerReviewed application/pdf en http://irep.iium.edu.my/73912/3/IRIE%202013%20-%20Certificate%20Nor%20Azizan%20Che%20Embi.pdf.pdf application/pdf en http://irep.iium.edu.my/73912/1/IRIE%202013%20-%20Nor%20Azizan%20Che%20Embi.pdf application/pdf en http://irep.iium.edu.my/73912/13/73912%20%20The%20impact%20of%20shariah-compliance.pdf application/pdf en http://irep.iium.edu.my/73912/14/73912%20certificate.pdf Che Embi, Nor Azizan and Rahim, Ruzita and Ibrahim, Izani (2013) The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs. In: IIUM Research, Invention and Innovation Exhibition (IRIIE) 2013, 19-20th February 2013, Kuala Lumpur. (Unpublished) |
| spellingShingle | HG4501 Stocks, investment, speculation Che Embi, Nor Azizan Rahim, Ruzita Ibrahim, Izani The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title | The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title_full | The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title_fullStr | The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title_full_unstemmed | The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title_short | The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs |
| title_sort | impact of shariah-compliance extensiveness screening on the initial performance of malaysian ipos |
| topic | HG4501 Stocks, investment, speculation |
| url | http://irep.iium.edu.my/73912/ http://irep.iium.edu.my/73912/3/IRIE%202013%20-%20Certificate%20Nor%20Azizan%20Che%20Embi.pdf.pdf http://irep.iium.edu.my/73912/1/IRIE%202013%20-%20Nor%20Azizan%20Che%20Embi.pdf http://irep.iium.edu.my/73912/13/73912%20%20The%20impact%20of%20shariah-compliance.pdf http://irep.iium.edu.my/73912/14/73912%20certificate.pdf |