Purpose This paper aims to discuss the urgent need to develop a sound and robust universal framework that would prove helpful in creating uniform acceptability of Islamic financial instruments. Among many problems, a particular problem in developing a uniform global framework for Islamic...

IAS-24 of the International Financial Reporting Standards focuses on the concept and disclosures of related party transactions (RPTs) for a reporting entity. This study examines the interrelationship between RPTs (as disclosed under IAS-24), agency theory, ownership structures and firm...

The international emergence and expansion of Islamic finance is an undeniable fact. Significant efforts from all stakeholders including regulatory bodies are currently under way to formulate universal framework, standards and codes of conduct for Islamic finance. This is necessary because of the...

The purpose of this research is to determine the impact of “Capital investment anomaly” and “Accrual anomaly” on stock returns after controlling the size and book-to-market effects. This study aims to fill a gap regarding the implications of capital investment anomaly and accrual anomaly...

Bai Salam has gained prominence as an Islamic financial instrument for financing the deficit funding units across the Islamic world. This paper uses the arbitrage-free first order conditions to set boundaries on the ra's al-mal (the price paid in Bai Salam). Among the four schools of thought...

During last few decades, conventional financial systems are being transformed to Islamic financial systems in many countries around the globe. One of the major components of Islamic financial system is Islamic Banking. As most of the economies were not ready for this change, Islamic banks and...

This paper intends to determine the impact of pursuing a strategy for innovation on capital structure decisions and performance. It builds on the R&D management research which is country-focused and utilizes an international sample. This is significant when considering the sample of the study....

Around the globe, a number of researches are conducted to measure the X-efficiency of banking sector. The obvious reason is that economic growth, macroeconomic stability and expansion of monetary policy are directly dependent on banking sector performance and efficiency in any country (Berger &...