This paper investigates whether the ownership and the governance structure of firms affects the decision to raise funds, and subsequently the choice of the capital instrument. We hypothesize that the choice of capital instrument depends on the relative riskiness of the source of funds ranging...

While operating side-by-side with conventional banks, the systemic risk profile of Islamic banks could be different due to their unique business model. Using a sample of ten countries with dual-banking systems, where the Islamic banking sector is considered systemically important, this paper...

Banking sectors across the world are facing unprecedented challenges due to the COVID-19 pandemic and are under immense pressure. This study examines the impact of COVID-19 on the systemic risk in eight of the most affected countries. Results indicate a significant increase in systemic risk...

S&P Dow Jones report that their Islamic equity indices continue to outperform their conventional counterparts in the Q1 of 2020; this period coincides with the beginning of the global outbreak of COVID-19. This claim is in line with the view that, due to the stringent screening, Islamic equity...