From interest tax shield to dividend tax shield: A corporate financing policy for equitable and sustainable wealth creation

Zaman, Qamar Uz; Hassan, M. Kabir; Akhter, Waheed; Meraj, M. A.

doi:10.1016/j.pacfin.2017.01.003

Cited by 12 publications

(8 citation statements)

References 46 publications

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“…To facilitate the adoption of the VBI, Bank Negara Malaysia in collaboration with the World Bank and the International Centre for Education in Islamic Finance (INCEIF) has developed the VBI Financing and Investment Impact Assessment Framework for Islamic Finance. Indeed, as Islamic finance is distinct from conventional finance, we acknowledge the importance of separate regulatory frameworks for Islamic banking and finance as aptly pointed out by Abdul-Rahman et al (2018) for the liquidity risk framework and Zaman et al (2018) for tax incentives. Further developments and assessments of the guidance and regulatory frameworks for Islamic banks especially those that have direct implications on SDGs should take a spotlight in Islamic finance research.…”

Section: Resultsmentioning

confidence: 91%

“…Apart from the above research on Islamic banking and Islamic stock markets, three articles are devoted to Islamic mutual funds, Islamic microfinance, and financing policy. These are contributed respectively by , Fianto et al (2018), and Zaman et al (2018).…”

Section: Other Islamic Financementioning

confidence: 99%

“…This supportive evidence for welfare-improving Islamic microfinancing notwithstanding, they remain skeptical as to whether Islamic microfinance will really benefit the poorest in Indonesia due to collateral constraints. Zaman et al (2018) is distinct from the rest not only in its focus on corporate tax policy but also its use of simulation technique to gauge the impacts of corporate tax incentives to debt and to equity on firms' value. As they demonstrate, the dividend tax shield would align well to the Islamic financial principle of profit and loss sharing and would reduce firms' indebtedness.…”

Section: Other Islamic Financementioning

confidence: 99%

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Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Ibrahim

Ebrahim

2018

Pacific-Basin Finance Journal

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Section: Resultsmentioning

confidence: 91%

Section: Other Islamic Financementioning

confidence: 99%

Section: Other Islamic Financementioning

confidence: 99%

See 1 more Smart Citation

Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Ibrahim

Ebrahim

2018

Pacific-Basin Finance Journal

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“…Aligning dividend tax shield to the Islamic financial principle, Zaman et al . () recommend instituting tax incentives to equity rather than debt based on their outcomes of simulation exercises. Grassa () investigate whether and how corporate governance characteristics in Islamic banks would determine product and services disclosure (PSD).…”

Section: Output–expert Judgementmentioning

confidence: 99%

Machine Learning and Expert Judgement: Analyzing Emerging Topics in Accounting and Finance Research in the Asia–Pacific

Cai

Linnenluecke

Marrone

et al. 2019

Abacus

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In this paper, we focus on the question to what extent machine learning (ML) tools can be used to support systematic literature reviews. We apply a ML approach for topic detection to analyze emerging topics in the literature-our context is accounting and finance research in the Asia-Pacific region. To evaluate the robustness of the approach, we compare findings from the automated ML approach with the results from a manual analysis of the literature. The automated approach uses a keyword algorithm detection mechanism whereby the manual analysis uses common techniques for qualitative data analysis, that is, triangulation between researchers (expert judgement). From our paper, we conclude that both methods have strengths and weaknesses. The automated analysis works well for large corpora of text and provides a very standardized and non-biased way of analyzing the literature. However, the human researcher is potentially better equipped to evaluate current issues and future trends in the literature. Overall, the best results might be achieved when a variety of tools are used together.

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“…Aliran modal yang besar ke suatu negara dimaksudkan sebagai sumber pembiayaan untuk peningkatan perekonomian (Ahmed & Zlate, 2014;Davis & Presno, 2017;Kersten, Harms, Liket, & Maas, 2017;Zaman, Hassan, Akhter, & Meraj, 2018). Semua negara secara sadar mengetahui bahwa aliran modal yang pada gilirannya digunakan untuk investasi merupakan mesin penggerak pertumbuhan utama yang secara langsung terkait pada perbaikan kinerja perekonomian (Situmorang, 2011).…”

Section: Pendahuluanunclassified

Analisis aliran modal asing ke indonesia dengan Pull and push factors

Bado

Samudera²,

Ma’ruf³

2019

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ABSTRAKTujuan penelitian ini menganalisis tentang aliran modal asing ke Indonesia dengan pull dan push factors. Determinan yang digunakan pada Pull dan Push factors adalah GDP Domestik. GDP Global, Suku bunga domestic, suku bunga internasional dan resiko politik negara. Penelitian menggunakan pendekatan kuantitatif dengan menggunakan data time series dengan rentang waktu 20 tahun pasca krisis moneter di Indonesia (1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013)(2014)(2015)(2016)(2017). Analisis data menggunakan persamaan regresi linear berganda. Hasil penelitian menemukan bahwa ternyata faktor yang dominan mempengaruhi aliran modal asing adalah pull factors baik jenis portofolio investment dan foreign direct investment. Variabel yang paling dominan mempengaruhi aliran modal asing di Indonesia yaitu variabel risiko politik domestik. Risiko politik domestik erat kaitannya dengan iklim investasi. Disisi lain pengaruh aliran modal asing signifikan dan positif dalam menjelaskan pertumbuhan ekonomi di Indonesia. ABSTRACTThe purpose of this study is to analyze the flow of foreign capital into Indonesia with pull and push factors. Determinants used on Pull and Push factors are Domestic GDP. Global GDP, domestic interest rates, international interest rates and the country's political risks. The study uses a quantitative approach using time series data with a span of 20 years after the monetary crisis in Indonesia (1998)(1999)(2000)(2001)(2002)(2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013)(2014)(2015)(2016)(2017). Data analysis using multiple linear regression equations. The results of the study found that it turned out that the dominant factors influencing foreign capital flows were pull factors both the type of portfolio investment and foreign direct investment. The most dominant variable affecting the flow of foreign capital in Indonesia is the domestic political risk variable. Domestic political risk is closely related to the investment climate. On the other hand the influence of foreign capital flows is significant and positive in explaining economic growth in Indonesia.

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From interest tax shield to dividend tax shield: A corporate financing policy for equitable and sustainable wealth creation

Cited by 12 publications

References 46 publications

Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Islamic Banking and Finance: Beyond Comparison and Investment Opportunities

Machine Learning and Expert Judgement: Analyzing Emerging Topics in Accounting and Finance Research in the Asia–Pacific

Analisis aliran modal asing ke indonesia dengan Pull and push factors

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