Memoryless properties of Markov first order have been powerful enough to cast light upon rating movement behavior. Further, Laplace transform is used to generate transition matrix, with homogenous continuous time assumption from discretized generator matrix. Various metric testing, i.e.: eigen...

This study investigate VAR Toda-Yamamoto causality test between macroeconomic variables and Islamic financial market. The purpose of this study is to analyze the information content of Islamic capital market and money market return with respect to macroeconomic and global factors. Using...

Gain insight into the unique risk management challenges within the Islamic banking systemRisk Management for Islamic Banks: Recent Developments from Asia and the Middle Eastanalyzes risk management strategies in Islamic banking, presented from the perspectives of different banking institutions....