Objective: The objective of the article is to investigate two issues. First, whether the Islamic bond (sukuk) ratings are the key determinant in affecting stock returns and, second, whether firm-characteristic variables moderate the sukuk ratings effect on stock returns. Research Design &...

We examine the corporate governance ratings provided by three premier US rating agencies (The Corporate Library, Institutional Shareholder Services, and Governance Metrics International) and find that summary scores are generally poor predictors of primary and secondary measures of future firm...