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Capital Structure and Shari'ah Compliance of non-Financial Firms Ramazan Yildirim

Capital Structure and Shari'ah Compliance of non-Financial Firms By Ramazan Yildirim

Capital Structure and Shari'ah Compliance of non-Financial Firms by Ramazan Yildirim


Capital Structure and Shari'ah Compliance of non-Financial Firms Summary

Capital Structure and Shari'ah Compliance of non-Financial Firms by Ramazan Yildirim

In the present financial world, various niche markets play an increasingly important role. One of the fastest-growing niches is, without a doubt, Islamic finance. Indeed, sustainable finance needs constantly evolving innovations, and this book offers valuable insights into Islamic capital structure and Shari'ah equity screening enriching academic discourse. "In recent years, we have witnessed the emergence of a new generation of academics and professionals specializing in various aspects of Islamic finance as knowledge and practice. This has brought about a new dynamism and also further sophistication. This book is one of such contributions, as it develops knowledge which is then transformed into practice whereby practical impact is also achieved. Being an academic book, it provokes readers' thoughts, offering a critique of the implications of the currently applied Shari'ah screenings methodologies. As a transformative practical piece, by developing an innovative screening ratio, in this book, Dr. Yildirim extends his focus on the risk-sharing based financing hierarchy, covers thoughts and the underlying philosophy, and proposes an Islamic version of a pecking order hierarchy. This framework can be considered the foundation for developing an Islamic capital structure theory. This book will benefit academics, professionals, investors, as well as policymakers working in the Islamic finance industry and would like to explore more." (Professor Dr. Mehmet Asutay, Durham University Business School, UK) "This book offers, for the first time after the inception of Shari'ah screening methodologies, a groundbreaking new stock screening solution that is comprehensible, practical, and foremost entirely derived from the primary sources of Islam (Qur'an and Sunnah). Congratulations to Dr. Ramazan for his outstanding contribution to Islamic finance and capital markets." (Associate Professor Dr. Ahcene Lahsasna) "This excellent book is a must-have for all corporate finance students/researchers interested in the theoretical aspect of capital structure and the religious discussion of Shari'ah equity screening. This book should become a companion to those involved in a quantitative research environment and aim to conduct a comparative analysis; an ideal resource for everyone, from Shari'ah scholars to Islamic finance practitioners and beginners to experts." (Professor Dr. M. Kabir Hassan, University of New Orleans, USA)

About Ramazan Yildirim

Ramazan Yildirim, Managing Director of Upsite Consulting, Kingdom of Bahrain

Table of Contents

Table of Contents Chapter 1: Introduction Chapter 1.1 Context and Background Chapter 1.2 Motivation and Objectives Chapter 1.3 Organization of the Book Chapter 2: Capital Structure Theories and its Determinants Chapter 2.1 Introduction Chapter 2.2 Definition of Capital Structure Chapter 2.3 Development of Capital Structure Theories Chapter 2.4 The Trade-Off Theory Chapter 2.5 The Pecking Order Theory Chapter 2.6 Capital Structure Determinants Chapter 2.7 Review of Earlier Capital Structure Studies on Shari'ah Compliant Companies Chapter 2.8 Conclusion Chapter 3: Shari'ah Compliant Equities and Capital Structure Chapter 3.1 Historical Background Chapter 3.2 Shari'ah Screening Methodology Chapter 3.3 Critical Comments on Shari'ah Screening Methodology Chapter 3.4 Proposed Solution for Shari'ah Screening Methodology Chapter 3.5 Proposed Expected Financing Hierarchy Chapter 3.4 Conclusion Chapter 4: Establishing a framework for comparative analysis Chapter 4.1 Data Selection Procedure/Data Sources and Classification of Datasets Chapter 4.2 Estimator and Post Estimation Tests Chapter 4.3 Formulation of Variables Chapter 4.4 Model Specification and Testing Model Chapter 4.5 Conclusion Chapter 5: Cross-Country and Cross-Industry Determinants Chapter 5.1 Descriptive Summary and Correlation Matrix Analysis Chapter 5.2 Empirical Results and Analysis Chapter 5.3 Conclusion Chapter 6: Testing of Capital Structure Theories Chapter 6.1 Pecking Order Model Chapter 6.2 Partial Adjustment Model (Speed of Adjustment) Chapter 6.3 Conclusion Chapter 7 Conclusion Chapter 7.1 Overview and Key Findings Chapter 7.2 Implications of the Study Chapter 7.3 Contribution of the Study Chapter 7.4 Limitations of the Study Chapter 7.5 Suggestions for Future Research

Additional information

NGR9783110713503
9783110713503
3110713500
Capital Structure and Shari'ah Compliance of non-Financial Firms by Ramazan Yildirim
New
Hardback
De Gruyter
2021-03-22
402
N/A
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