Do Muslim CEOs and Muslim stakeholders prefer Islamic debt financing?

You, Hui Wei

doi:10.1016/j.gfj.2021.100625

Cited by 12 publications

(16 citation statements)

References 46 publications

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“…Meanwhile, the SCF mean value in this study is 0.039 (3.9%), indicating that Malaysia's average composition of SCF is 3.9% of the total loans. The average value is relatively lower than the reported value by Brahmana and You (2022), which is 4.57%. Overall, the mean values reported in this study are generally in line with those reported in prior studies, suggesting that the measurements and calculations are accurate.…”

Section: Findings 41 Descriptive Statisticscontrasting

confidence: 71%

“…The research area generally focuses more on the sukuk's determinants and performance (Hassan et al, 2019a(Hassan et al, , 2022Al-Yahyaee et al, 2021) rather than the sharia-compliant debt financing (hereafter SCF). It is intriguing, considering that SCF has received popularity among corporations (Saeed et al, 2021;Brahmana and You, 2022), where many corporations have taken SCF as part of the debt structure in their balance sheets.…”

Section: Introductionmentioning

confidence: 99%

“…, 2021) rather than the sharia-compliant debt financing (hereafter SCF). It is intriguing, considering that SCF has received popularity among corporations (Saeed et al ., 2021; Brahmana and You, 2022), where many corporations have taken SCF as part of the debt structure in their balance sheets.…”

Section: Introductionmentioning

confidence: 99%

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Does sharia-compliant debt financing reduce stock price crash risk?

Kontesa¹

2023

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PurposeThis paper examines the impact of sharia-compliant debt financing on stock price crash risk. Unlike those previous studies that took Sukuk or sharia-compliant firms, this study tests the impact of the proportion reported sharia-compliant debt financing in the balance sheet on the risk of price crash of a firm.Design/methodology/approachUsing the data from 2,752 firm-year observations of 344 Malaysian non-financial listed companies from 2012 to 2019, this article used a robust panel data estimation technique for statistical inferences. This study also employs panel GMM and quantile least squares as the robustness check.FindingsThis study established a negative relationship between sharia-compliant debt financing and stock price crash risk. The robustness checks with different estimation techniques confirm the results. It implies that firms with a more significant proportion of Sharia-compliant financing tend to have lower future stock price crash risk.Practical implicationsConsistent with the Islamic finance literature, the present study contributes to the existing literature on Islamic capital markets from the perspective of stock price crash risk because it is vital for risk management and investment decision-making as a measure of tail risk for stocks. The findings of this research will assist investors in developing portfolio strategies that incorporate firms with higher levels of sharia-compliant debt financing in their balance sheets. Additionally, the results of this study suggest that policymakers and regulatory bodies should consider revising their monitoring approaches for publicly listed firms.Originality/valueThis study is interesting and unique, as it is a pioneer in testing the impact of sharia-compliant debt financing on reducing stock price crash risk.

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Section: Findings 41 Descriptive Statisticscontrasting

confidence: 71%

Section: Introductionmentioning

confidence: 99%

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Does sharia-compliant debt financing reduce stock price crash risk?

Kontesa¹

2023

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“…The moderating role of stakeholders will reduce uncertainty and information asymmetry to complement the influence of religion and language in international business activities (Li & Sai, 2020). Public perception could increase the positive dimension of the fundamental rights, the obligation of transparency, and accountability of social media to incorporate democratic values in the digital environment (Gregorio, 2020), even though Muslims do not significantly influence sharia financing (Brahmana & You, 2021).…”

Section: Moderation Construction In Economic Aspectmentioning

confidence: 99%

Construction of Public Opinion about Religious Moderation on NU Online Instagram Accounts (@nuonline_id)

Soraya

Wibowo

2021

KOM

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This study tries to describe how NU Online constructs the content of religious moderation in influencing public opinion. Starting from the development of social media in the digital era, which plays a significant role in building public opinion and culture, NU Online uses Instagram (@nuonline_id) to spread the concept of moderation. The spread of the moderation message aims to maintain the country’s integrity and prevent radicalism or extremism in religion. This research is descriptive qualitative research. The study conducts by online observations of the @nuonline_id Instagram page to detect religious moderation content. This study succeeded in finding the construction of religious moderation on the @nuonline_id account using text analysis (images and text). The study results explain that NU Online carries out the structure of religious moderation in six aspects of life: (a) Aspects of inter-religious relations. In this aspect, NU Online invites Muslims to maintain harmony with people of different religions. (b) Aspects of social life by suggesting the Indonesian people live in harmony with each other as Indonesian citizens. (c) Political factors and state management by asking the government to develop moderation in carrying out their duties. (d) The education aspect is by the inculcation of the moderation concept in the curriculum. (e) Legal aspects and understanding of religious texts encourage Islamic scholars to consider the religious context in establishing laws. (f) Economic factors, taking into economic equity.

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“…However, it offers profit sharing to bank customers. Of course, this concept is different from conventional banks that offer bank interest to their customers (Brahmana & You, 2021).…”

Section: Introductionmentioning

confidence: 99%