The Asia-Pacific region’s currency markets are generally efficient within-country when tested using the Johansen (1991, 1995) cointegration technique whereas market efficiency fails to hold when tested using Fama’s (1984) conventional regression. Using the Pilbeam and Olmo (2011) model, we...

This study provides new evidence on the risk and return performance of the Kuala Lumpur Syariah Index (KLSI) and the Kuala Lumpur Composite Index (KLCI). An Islamic stock market index such as KLSI selects stocks according to Islamic laws, and thus has a more stringent screening process than its...

This paper reports new findings on the determinants of bank capital ratios. The results are from an unbalanced panel data set spanning eight years around the period of the 1997-1998 Asian financial crisis. Test results suggest a strong positive link between regulatory capital and bank...

The issue of target leverage for corporate firms in developing countries has received little attention in extant literature, especially countries in Africa. Given the imperfection that exists in African financial markets that may limit firms access to external capital, this study investigates...

The purpose of this paper is to examine the impact of an alternative ownership/control structure of corporate governance on firm performance. Specifically, we investigated the governance system of government linked companied (GLCs) in Malaysia. In this paper, we examine governance mechanism and...

The purpose of this paper is to examine the impact of an alternative ownership/control structure of corporate governance on firm performance. Specifically, we investigated the governance system of government linked companied (GLCs) in Malaysia. In this paper, we examine governance mechanism and...

Purpose: The purpose of this study is to examine the relationship of the board and risk committee in respect of risk-taking in conventional and Islamic banks in Malaysia. Design/methodology/approach: This study uses unbalanced panel data for 15 conventional and 14 Islamic banks over the period...

The non-existence of commercially available Islamic Equity Style Indices from index providers such as MSCI especially on small value and small growth stocks motivates us to construct our new indices. Firstly, various index construction methods are compared. Secondly, this paper describes in...