We explore the effect of governance on the costs and ratings of firms' bonds. We use the wedge between the voting and cash-flow rights of the controlling shareholders and the identity of the ultimate owners to proxy for the strength of the internal governance mechanisms. We find strong evidence...

We explore the effect of governance on bond yield-spreads and ratings in a multinational sample of firms. We find strong evidence that ultimate ownership (i.e., the voting/cash-flow rights wedge) and family control have a positive and significant effect on bond yield-spreads, and a negative and...

Purpose: This paper aims to examine the effect do Sukuk Spur Infrastructure Development of Sukuk market expansion on infrastructure development for a sample of 15 emerging countries over the period 1997–2018. The paper also compares the role of Sukuk in infrastructure development to that of...