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This paper examines motivations for large firms to choose an Islamic loan over a conventional loan. This investigation helps understanding the causes of the expansion of Islamic finance activities. We employ a dataset of Islamic and conventional syndicated loans from countries from the Middle...
Persistent link: https://www.econbiz.de/10013066247
consistent with the spirit and overall objectives of Islam (Maqasid Al-Sharia), thereby indicating they are more socially … constructing portfolios that are both compliant with Islamic rulings and consistent with the spirit and objectives of Islam in …
Persistent link: https://www.econbiz.de/10012850567
the modified pecking order theory. We study the external funding preferences of Malaysian firms using quarterly data of …
Persistent link: https://www.econbiz.de/10012829077
This paper discusses the financial contracting theory from the conventional and Islamic perspectives. It provides an …
Persistent link: https://www.econbiz.de/10012861612
This paper aims to examine and compare the profitability of Islamic and conventional banks located in 20 African countries over the period 2009-2018. Based on a sample of 21 Islamic banks and 297 conventional banks, this study shows that Islamic banks perform better than conventional banks in...
Persistent link: https://www.econbiz.de/10012833816
Financial crises have become a recurring problem for modern economies with increasingly detrimental fallouts. Risk-sharing finance (RSF) contracts may be the best instrument for addressing the problem and its fallout, and in particular the risk-sharing principles of Islamic finance offer a...
Persistent link: https://www.econbiz.de/10012930311
Firms engage in factoring as an external financing option. Factoring is generally considered as a costly option. However, firms may prefer factoring financing when they reach a certain level of indebtedness that increasing it may negatively affect their firm value. Up to now, far too little...
Persistent link: https://www.econbiz.de/10013223645
We argue that commodity input hedging is different from commodity output hedging. Output hedging can be detrimental to “sector play.” Furthermore, firms with market power that hedge outputs have incentives to over-produce and distort market prices. In rational markets such hedging will be...
Persistent link: https://www.econbiz.de/10013008765
Do changes in the marginal tax rate of corporations affect their investment? Using a unique dataset on balance sheet and income of firms from 1956-2008 and a new measure of exogenous changes in corporations marginal tax rate, this paper shows that the investment response of large firms to a...
Persistent link: https://www.econbiz.de/10012849155
Persistent link: https://www.econbiz.de/10012504958