首页 > 最新文献

International Journal of Islamic and Middle Eastern Finance and Management最新文献

英文 中文
The possibility of establishing an endowment (Waqf) from the Islamic financial institutions’ provisioned funds in the United Arab Emirates 利用阿拉伯联合酋长国伊斯兰金融机构提供的资金建立捐赠基金(Waqf)的可能性
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-27 DOI: 10.1108/imefm-12-2023-0466
Sofien Bessais, Habeebullah Zakariyah, Azman Mohd Noor
<h3>Purpose</h3><p>Islamic financial institutions (IFIs) can gather provisioned funds from various sources, but they are prohibited from incorporating these funds into their profits or using them for personal gain as they are considered illegitimate income. Instead, IFIs are required to allocate these funds to charitable purposes. This study aims to examine the potential establishment of a <em>Waqf</em> (an Islamic alternative for endowment) using the provisioned funds of IFIs in the United Arab Emirates (UAE) by analyzing its <em>Shariah</em> perspective, utility and viability.</p><!--/ Abstract__block --><h3>Design/methodology/approach</h3><p>This research uses an information-gathering approach, gathering data from books, articles, journals and websites to illuminate the <em>Shariah</em> perspective of endowing provisioned funds. Additionally, it draws upon interviews with experts in <em>Waqf</em> and Islamic banking and finance to grasp the potential and viability of establishing a <em>Waqf</em> from provisioned funds in the UAE.</p><!--/ Abstract__block --><h3>Findings</h3><p>Establishing a <em>Waqf</em> using provisioned funds is permissible. Although <em>Waqf</em> is always advantageous, in the current situation, endowing Islamic financial institutions' provisioned funds will not adequately address societal needs in the UAE. This is because the majority of annual returns on UAE <em>Waqf</em> investments are low compared to the amount invested, and there is an urgency to disburse these funds to those in need. If these needs are identified and met using Zakat and other charitable funds, a <em>Waqf</em> can be created from provisioned funds and prove beneficial. However, the authors have suggested some proposals to establish a relevant <em>Waqf</em> from provisioned funds that satisfy the required conditions and address the societal needs of the UAE. They concluded that creating a <em>Waqf</em> school would be the best suggestion.</p><!--/ Abstract__block --><h3>Research limitations/implications</h3><p>The scope of this study is limited to examining the use of IFIs' provisioned funds to establish a <em>Waqf</em> in the UAE. Furthermore, the findings and conclusions of this study may be applicable only to the UAE and may not be universally applicable to other countries.</p><!--/ Abstract__block --><h3>Practical implications</h3><p>Proposed initiatives to create a “Cash Waqf” fund and a “Waqf School” using provisioned funds are anticipated to bring about immediate positive changes for the underprivileged and the wider UAE community. Furthermore, the sustainable establishment of any <em>Waqf</em> could greatly benefit society by addressing all societal needs through Zakat and charitable contributions.</p><!--/ Abstract__block --><h3>Originality/value</h3><p>To the best of the authors’ knowledge, this is the first study to explore the potential and practicality of creating a <em>Waqf</em> using provisioned funds from IFIs in the UAE.</p
目的:伊斯兰金融机构 (IFI) 可以从各种来源收集备付金,但禁止将这些资金纳入利润或用于个人收益,因为这些资金被视为非法收入。相反,伊斯兰金融机构必须将这些资金用于慈善目的。本研究旨在通过分析伊斯兰教法的观点、效用和可行性,研究利用阿拉伯联合酋长国(UAE)国际金融机构的准备金建立宗教基金(捐赠的伊斯兰替代方式)的可能性。此外,本研究还采访了宗教基金和伊斯兰银行与金融方面的专家,以了解在阿联酋利用备付金建立宗教基金的潜力和可行性。尽管宗教基金总是有利的,但在当前形势下,捐赠伊斯兰金融机构的准备金并不能充分满足阿联酋的社会需求。这是因为,与投资金额相比,阿联酋宗教基金投资的大部分年回报率都很低,而且急需将这些资金发放给有需要的人。如果利用天课和其他慈善基金确定并满足了这些需求,就可以利用所提供的资金建立宗教基金,并证明是有益的。不过,作者提出了一些建议,以利用符合规定条件和满足阿联酋社会需求的拨款建立相关的宗教基金。他们的结论是,创建一所宗教基金学校将是最好的建议。研究局限性/影响本研究的范围仅限于研究利用国际金融机构提供的资金在阿联酋建立宗教基金的情况。此外,本研究的发现和结论可能只适用于阿联酋,不一定普遍适用于其他国家。实际意义利用提供的资金设立 "现金宗教基金 "和 "宗教基金学校 "的建议措施预计将为弱势群体和更广泛的阿联酋社区带来立竿见影的积极变化。此外,任何宗教基金的可持续建立都能通过天课和慈善捐款满足所有社会需求,从而极大地造福于社会。 原创性/价值 据作者所知,这是第一项探索在阿联酋利用国际金融机构提供的资金建立宗教基金的潜力和实用性的研究。
{"title":"The possibility of establishing an endowment (Waqf) from the Islamic financial institutions’ provisioned funds in the United Arab Emirates","authors":"Sofien Bessais, Habeebullah Zakariyah, Azman Mohd Noor","doi":"10.1108/imefm-12-2023-0466","DOIUrl":"https://doi.org/10.1108/imefm-12-2023-0466","url":null,"abstract":"&lt;h3&gt;Purpose&lt;/h3&gt;\u0000&lt;p&gt;Islamic financial institutions (IFIs) can gather provisioned funds from various sources, but they are prohibited from incorporating these funds into their profits or using them for personal gain as they are considered illegitimate income. Instead, IFIs are required to allocate these funds to charitable purposes. This study aims to examine the potential establishment of a &lt;em&gt;Waqf&lt;/em&gt; (an Islamic alternative for endowment) using the provisioned funds of IFIs in the United Arab Emirates (UAE) by analyzing its &lt;em&gt;Shariah&lt;/em&gt; perspective, utility and viability.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Design/methodology/approach&lt;/h3&gt;\u0000&lt;p&gt;This research uses an information-gathering approach, gathering data from books, articles, journals and websites to illuminate the &lt;em&gt;Shariah&lt;/em&gt; perspective of endowing provisioned funds. Additionally, it draws upon interviews with experts in &lt;em&gt;Waqf&lt;/em&gt; and Islamic banking and finance to grasp the potential and viability of establishing a &lt;em&gt;Waqf&lt;/em&gt; from provisioned funds in the UAE.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Findings&lt;/h3&gt;\u0000&lt;p&gt;Establishing a &lt;em&gt;Waqf&lt;/em&gt; using provisioned funds is permissible. Although &lt;em&gt;Waqf&lt;/em&gt; is always advantageous, in the current situation, endowing Islamic financial institutions' provisioned funds will not adequately address societal needs in the UAE. This is because the majority of annual returns on UAE &lt;em&gt;Waqf&lt;/em&gt; investments are low compared to the amount invested, and there is an urgency to disburse these funds to those in need. If these needs are identified and met using Zakat and other charitable funds, a &lt;em&gt;Waqf&lt;/em&gt; can be created from provisioned funds and prove beneficial. However, the authors have suggested some proposals to establish a relevant &lt;em&gt;Waqf&lt;/em&gt; from provisioned funds that satisfy the required conditions and address the societal needs of the UAE. They concluded that creating a &lt;em&gt;Waqf&lt;/em&gt; school would be the best suggestion.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Research limitations/implications&lt;/h3&gt;\u0000&lt;p&gt;The scope of this study is limited to examining the use of IFIs' provisioned funds to establish a &lt;em&gt;Waqf&lt;/em&gt; in the UAE. Furthermore, the findings and conclusions of this study may be applicable only to the UAE and may not be universally applicable to other countries.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Practical implications&lt;/h3&gt;\u0000&lt;p&gt;Proposed initiatives to create a “Cash Waqf” fund and a “Waqf School” using provisioned funds are anticipated to bring about immediate positive changes for the underprivileged and the wider UAE community. Furthermore, the sustainable establishment of any &lt;em&gt;Waqf&lt;/em&gt; could greatly benefit society by addressing all societal needs through Zakat and charitable contributions.&lt;/p&gt;&lt;!--/ Abstract__block --&gt;\u0000&lt;h3&gt;Originality/value&lt;/h3&gt;\u0000&lt;p&gt;To the best of the authors’ knowledge, this is the first study to explore the potential and practicality of creating a &lt;em&gt;Waqf&lt;/em&gt; using provisioned funds from IFIs in the UAE.&lt;/p","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"2 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142226196","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of corporate governance on financial fragility in non-financial companies: a Minskyian approach 公司治理对非金融公司财务脆弱性的影响:明斯基方法
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-22 DOI: 10.1108/imefm-11-2023-0453
Ibrahim N. Khatatbeh, Hamdi W. Samman, Wasfi A. Al Salamat, Rasmi Meqbel

Purpose

This study aims to examine the effect of corporate governance (CG) mechanisms on financial fragility in non-financial corporations, using Nishi’s operationalization of Minsky’s financial instability hypothesis. Specifically, the study investigates the influence of board size, board independence, CEO duality and audit quality on the financial fragility of non-financial companies (NFCs).

Design/methodology/approach

Using a panel logit regression model, the authors analyse annual data from (66) NFCs listed on the Amman Stock Exchange, spanning over the period 2015–2021. This methodology enables us to assess the relationships between the identified CG mechanisms and the categorical proxy of financial fragility.

Findings

The findings of this study reveal that a large share of NFCs fall within Minsky’s “Ponzi” classification, indicating elevated levels of financial vulnerability. Remarkably, the analysis demonstrates that larger board sizes and the CEO-Chairman duality exacerbate financial fragility within these firms. Conversely, the study results suggest that board independence and audit quality exhibit limited effects on financial fragility. In addition, profitability, firm size and financial leverage are identified as key predictors of financial fragility.

Originality/value

This study adds to the current literature by using a financial fragility index grounded in Minsky’s financial instability hypothesis. The constructed index is then used to examine specific CG factors in relation to financial fragility, which offers new insights into the dynamics influencing the default exposure of NFCs. Furthermore, the study findings have direct implications for policymakers and stakeholders aiming to enhance CG practices and foster financial stability in the private sector.

目的本研究旨在采用 Nishi 对明斯基金融不稳定性假说的操作化方法,研究公司治理(CG)机制对非金融公司财务脆弱性的影响。具体而言,本研究探讨了董事会规模、董事会独立性、首席执行官双重性和审计质量对非金融公司(NFCs)财务脆弱性的影响。设计/方法/途径作者采用面板对数回归模型,分析了在安曼证券交易所上市的(66 家)NFCs 的年度数据,时间跨度为 2015-2021 年。研究结果本研究的结果表明,大部分 NFC 都属于明斯基的 "庞氏 "分类,表明其金融脆弱性水平较高。值得注意的是,分析表明,董事会规模扩大和首席执行官与董事长的双重身份加剧了这些公司的财务脆弱性。相反,研究结果表明,董事会独立性和审计质量对财务脆弱性的影响有限。此外,盈利能力、公司规模和财务杠杆被认为是财务脆弱性的关键预测因素。 原创性/价值 本研究以明斯基的财务不稳定性假说为基础,使用财务脆弱性指数对现有文献进行了补充。然后,利用构建的指数来研究与金融脆弱性相关的具体 CG 因素,从而为了解影响 NFC 违约风险的动态提供了新的视角。此外,研究结果对旨在加强企业管治实践和促进私营部门金融稳定的政策制定者和利益相关者具有直接影响。
{"title":"The effect of corporate governance on financial fragility in non-financial companies: a Minskyian approach","authors":"Ibrahim N. Khatatbeh, Hamdi W. Samman, Wasfi A. Al Salamat, Rasmi Meqbel","doi":"10.1108/imefm-11-2023-0453","DOIUrl":"https://doi.org/10.1108/imefm-11-2023-0453","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine the effect of corporate governance (CG) mechanisms on financial fragility in non-financial corporations, using Nishi’s operationalization of Minsky’s financial instability hypothesis. Specifically, the study investigates the influence of board size, board independence, CEO duality and audit quality on the financial fragility of non-financial companies (NFCs).</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Using a panel logit regression model, the authors analyse annual data from (66) NFCs listed on the Amman Stock Exchange, spanning over the period 2015–2021. This methodology enables us to assess the relationships between the identified CG mechanisms and the categorical proxy of financial fragility.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings of this study reveal that a large share of NFCs fall within Minsky’s “Ponzi” classification, indicating elevated levels of financial vulnerability. Remarkably, the analysis demonstrates that larger board sizes and the CEO-Chairman duality exacerbate financial fragility within these firms. Conversely, the study results suggest that board independence and audit quality exhibit limited effects on financial fragility. In addition, profitability, firm size and financial leverage are identified as key predictors of financial fragility.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study adds to the current literature by using a financial fragility index grounded in Minsky’s financial instability hypothesis. The constructed index is then used to examine specific CG factors in relation to financial fragility, which offers new insights into the dynamics influencing the default exposure of NFCs. Furthermore, the study findings have direct implications for policymakers and stakeholders aiming to enhance CG practices and foster financial stability in the private sector.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"1 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142202997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Are Islamic banks really resilient to crises: new evidence from the COVID-19 pandemic 伊斯兰银行是否真的能抵御危机:来自 COVID-19 大流行病的新证据
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-20 DOI: 10.1108/imefm-06-2024-0279
Abdelaziz Chazi, Ali Mirzaei, Zaher Zantout

Purpose

Proponents of Islamic banking believe that this banking model is relatively superior in times of financial crises. This study aims to examine whether Islamic banks were more resilient to the coronavirus 2019 (COVID-19) pandemic than their conventional peers, especially in terms of two of the most important banking risks, capital and liquidity risks.

Design/methodology/approach

The authors use a regression model to examine whether Islamic banks were more resilient to the recent health crisis, as compared to their conventional counterparts. The results are robust to alternative crisis time periods, the use of different model specifications and the inclusion of different control variables.

Findings

Unlike during the 2007–2008 global financial crisis (GFC), Islamic banks have not performed relatively well during the more recent crisis caused by the COVID-19 pandemic. The results show that Islamic banks experienced an increase in both capital and liquidity risks. The results also indicate a decrease in bank profitability, improved solvency and asset quality and a decrease in operational risk.

Originality/value

This study contributes to the literature on banking business model and resilience to economic crises. Contrary to some expectations and to their performance during the GFC of 2007–2008, Islamic banks were found to be more vulnerable during the COVID-19 pandemic than conventional banks.

目的 伊斯兰银行业的支持者认为,这种银行模式在金融危机时相对更优越。本研究旨在探讨伊斯兰银行是否比传统银行更能抵御 2019 年冠状病毒(COVID-19)大流行的影响,尤其是在资本和流动性风险这两个最重要的银行风险方面。研究结果与 2007-2008 年全球金融危机(GFC)期间不同,伊斯兰银行在最近由 COVID-19 大流行病引发的危机中表现相对较差。结果显示,伊斯兰银行的资本和流动性风险都有所增加。结果还表明,银行盈利能力下降,偿付能力和资产质量提高,运营风险降低。与某些预期及其在 2007-2008 年全球金融危机期间的表现相反,伊斯兰银行在 COVID-19 大流行期间比传统银行更加脆弱。
{"title":"Are Islamic banks really resilient to crises: new evidence from the COVID-19 pandemic","authors":"Abdelaziz Chazi, Ali Mirzaei, Zaher Zantout","doi":"10.1108/imefm-06-2024-0279","DOIUrl":"https://doi.org/10.1108/imefm-06-2024-0279","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>Proponents of Islamic banking believe that this banking model is relatively superior in times of financial crises. This study aims to examine whether Islamic banks were more resilient to the coronavirus 2019 (COVID-19) pandemic than their conventional peers, especially in terms of two of the most important banking risks, capital and liquidity risks.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors use a regression model to examine whether Islamic banks were more resilient to the recent health crisis, as compared to their conventional counterparts. The results are robust to alternative crisis time periods, the use of different model specifications and the inclusion of different control variables.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Unlike during the 2007–2008 global financial crisis (GFC), Islamic banks have not performed relatively well during the more recent crisis caused by the COVID-19 pandemic. The results show that Islamic banks experienced an increase in both capital and liquidity risks. The results also indicate a decrease in bank profitability, improved solvency and asset quality and a decrease in operational risk.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study contributes to the literature on banking business model and resilience to economic crises. Contrary to some expectations and to their performance during the GFC of 2007–2008, Islamic banks were found to be more vulnerable during the COVID-19 pandemic than conventional banks.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"13 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142202998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Factors affecting financial engineering and product development in Islamic Financial Institutions 影响伊斯兰金融机构金融工程和产品开发的因素
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-20 DOI: 10.1108/imefm-09-2023-0341
Surayyo Shaamirova, Mehmet SARAÇ

Purpose

This study aims to analyze Islamic financial institutions’ (IFIs) current financial engineering and product development procedures.

Design/methodology/approach

The paper is quantitative in nature and the survey questionnaire were collected from managers and IF experts working for Islamic Banks, Takaful and other IFIs in Turkey, Malaysia and UAE. Two-stage structural equation modeling was used to test the hypothesis.

Findings

The findings highlighted that the Shari’ah Supervisory Board, Strategy and Planning of IFIs, Legal and Regulatory framework, pricing of a new product and financial performance positively impact the new product development (NPD) process. At the same time, Islamic values have no significant positive impact.

Research limitations/implications

When generalizing the research results, data collection from the right departments was the main limitation of the current study. Future research may opt to collect data only from Product Development Departments.

Practical implications

The findings of this study will allow IFIs to reflect on their present methods, procedures and Shari’ah compliance framework for the NPD process.

Originality/value

Factors affecting the product development and financial engineering process are discussed in the literature. The findings of this study can be regarded as building blocks for future academic research on product development and financial engineering in Islamic finance.

本研究旨在分析伊斯兰金融机构(IFIs)当前的金融工程和产品开发程序。本文采用定量研究方法,从土耳其、马来西亚和阿联酋的伊斯兰银行、回教保险和其他伊斯兰金融机构的管理人员和伊斯兰金融机构专家那里收集调查问卷。研究结果研究结果表明,伊斯兰教法监督委员会、伊斯兰金融机构的战略和规划、法律和监管框架、新产品的定价和财务业绩对新产品开发(NPD)过程有积极影响。在归纳研究结果时,从合适的部门收集数据是本研究的主要局限。本研究的结果将有助于国际金融机构反思其目前的方法、程序和 NPD 流程的伊斯兰教法合规框架。本研究的结论可被视为未来伊斯兰金融产品开发和金融工程学术研究的基石。
{"title":"Factors affecting financial engineering and product development in Islamic Financial Institutions","authors":"Surayyo Shaamirova, Mehmet SARAÇ","doi":"10.1108/imefm-09-2023-0341","DOIUrl":"https://doi.org/10.1108/imefm-09-2023-0341","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to analyze Islamic financial institutions’ (IFIs) current financial engineering and product development procedures.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The paper is quantitative in nature and the survey questionnaire were collected from managers and IF experts working for Islamic Banks, Takaful and other IFIs in Turkey, Malaysia and UAE. Two-stage structural equation modeling was used to test the hypothesis.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings highlighted that the Shari’ah Supervisory Board, Strategy and Planning of IFIs, Legal and Regulatory framework, pricing of a new product and financial performance positively impact the new product development (NPD) process. At the same time, Islamic values have no significant positive impact.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>When generalizing the research results, data collection from the right departments was the main limitation of the current study. Future research may opt to collect data only from Product Development Departments.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The findings of this study will allow IFIs to reflect on their present methods, procedures and Shari’ah compliance framework for the NPD process.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>Factors affecting the product development and financial engineering process are discussed in the literature. The findings of this study can be regarded as building blocks for future academic research on product development and financial engineering in Islamic finance.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"14 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142226199","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Heterogeneous stock market impact of Russia–Ukraine War for oil and gas companies 俄乌战争对石油天然气公司股票市场的异质性影响
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-19 DOI: 10.1108/imefm-03-2024-0131
António Miguel Martins, Pedro Correia, Ricardo Gouveia

Purpose

This paper aims to examine the short-term market impact of the beginning of the military conflict between Russia and Ukraine (24 February 2022), the world’s largest oil and gas companies.

Design/methodology/approach

The authors examine the world’s 100 largest listed oil and gas companies at and around the beginning of the military conflict between Russia and Ukraine using an event study methodology.

Findings

The authors observe a positive and statistically significant stock price reaction at and around the military conflict. These results are consistent with the asset pricing perspective. Conversely, the stock market returns of Russian oil and gas companies, as well as those companies that were “forced” to divest in Russia due to corporate activism, exhibit a negative and statistically significant impact from the conflict. These reactions are reinforced or mitigated by company-specific characteristics such as size, profitability and institutional ownership. Finally, the findings indicate that companies engaged in oil and gas exploration and production report abnormally higher returns compared to firms in the other two subsectors of the industry.

Originality/value

The effect of the war on stock markets has been relatively little examined in the financial theory. This study intends to fill this gap in the literature.

本文旨在研究俄罗斯和乌克兰之间军事冲突开始(2022 年 2 月 24 日)对全球最大石油和天然气公司的短期市场影响。作者采用事件研究方法,对俄罗斯和乌克兰之间军事冲突开始时及前后的全球 100 家最大石油和天然气上市公司进行了研究。这些结果符合资产定价的观点。相反,俄罗斯石油和天然气公司以及因企业激进主义而 "被迫 "在俄罗斯撤资的公司的股市回报则受到冲突的负面影响,且在统计上具有显著性。公司的具体特征(如规模、盈利能力和机构所有权)加强或减轻了这些反应。最后,研究结果表明,与该行业其他两个子行业的公司相比,从事石油和天然气勘探与生产的公司的回报率异常高。本研究旨在填补这一文献空白。
{"title":"Heterogeneous stock market impact of Russia–Ukraine War for oil and gas companies","authors":"António Miguel Martins, Pedro Correia, Ricardo Gouveia","doi":"10.1108/imefm-03-2024-0131","DOIUrl":"https://doi.org/10.1108/imefm-03-2024-0131","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper aims to examine the short-term market impact of the beginning of the military conflict between Russia and Ukraine (24 February 2022), the world’s largest oil and gas companies.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors examine the world’s 100 largest listed oil and gas companies at and around the beginning of the military conflict between Russia and Ukraine using an event study methodology.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The authors observe a positive and statistically significant stock price reaction at and around the military conflict. These results are consistent with the asset pricing perspective. Conversely, the stock market returns of Russian oil and gas companies, as well as those companies that were “forced” to divest in Russia due to corporate activism, exhibit a negative and statistically significant impact from the conflict. These reactions are reinforced or mitigated by company-specific characteristics such as size, profitability and institutional ownership. Finally, the findings indicate that companies engaged in oil and gas exploration and production report abnormally higher returns compared to firms in the other two subsectors of the industry.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The effect of the war on stock markets has been relatively little examined in the financial theory. This study intends to fill this gap in the literature.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"12 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142202999","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Explaining the role of integrated monetary banking system on transparency of interest-free institutions transactions: a case study at interest-free institutions of Iran 解释综合货币银行系统对无息机构交易透明度的作用:伊朗无息机构案例研究
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-14 DOI: 10.1108/imefm-11-2022-0437
Mehrdad Leylabi, Sara Malekan, Mehdi Majidpour

Purpose

The aim of this paper is to explain that what main characteristics financial technologies should have so that lead to improve the transparency of institutions and whether the integrated monetary banking system deployed in free-interest institutions has affected the transparency of these institutions in terms of those characteristics or not? In this study, the integrated monetary banking system will be studied subject to implementation of the Shafagh project.

Design/methodology/approach

Based on the literature review and the experts' opinions, the principles of the research questions were explained. Then, according to the dimensions of the research conceptual model, questions related to research questions were considered as the item for analysis in the modeling of structural equations. In the next step, 278 employees and managers of interest-free institutions were selected, by simple random sampling method, to answer the questionnaire. Data collected is analyzed by using structural equations method.

Findings

The results of the analysis indicates that the impact of the dimensions of strategic, technical, organizational and cultural factors – identified as the main characteristics of a financial system in this study – on the transparency of the transactions of the interest-free institutions is significant.

Research limitations/implications

The results were obtained by focusing on the qualitative factors and also on the culture on free-interest institutions.

Practical implications

By investigating the issues and factors that the developers, consultants and institutions’ managers need to address and also giving a conceptual model, this study assists managers and generally financial institutions in developing an integrated banking system in a way that will be more likely to improve transparency in those organizations.

Originality/value

This study pioneers a comprehensive conceptual model, surpassing prior research that focused on isolated criteria. This novel approach enriches understanding of core banking systems' impact on financial transparency. This groundbreaking study uniquely focuses on free-interest institutions, traditionally presumed to be transparent but never before studied.

本文旨在说明金融技术应具备哪些主要特征,从而提高机构的透明度,以及在自由利益机构中部署的综合货币银行系统是否在这些特征方面影响了这些机构的透明度?在本研究中,将根据沙法赫项目的实施情况对综合货币银行系统进行研究。设计/方法/途径在文献综述和专家意见的基础上,解释了研究问题的原则。然后,根据研究概念模型的维度,将与研究问题相关的问题作为结构方程模型的分析项目。接下来,通过简单随机抽样的方法,抽取了 278 名免息机构的员工和管理人员回答问卷。分析结果表明,战略、技术、组织和文化因素(在本研究中被确定为金融体系的主要特征)对免息机构交易透明度的影响是显著的。研究局限性/意义研究结果主要集中在定性因素以及免息机构的文化方面。通过调查开发人员、顾问和机构管理者需要解决的问题和因素,并给出一个概念模型,本研究帮助管理者和一般金融机构开发综合银行系统,从而更有可能提高这些组织的透明度。这种新颖的方法丰富了人们对核心银行系统对财务透明度影响的理解。这项开创性的研究独特地将重点放在了自由利益机构上,传统上认为这些机构是透明的,但以前从未对其进行过研究。
{"title":"Explaining the role of integrated monetary banking system on transparency of interest-free institutions transactions: a case study at interest-free institutions of Iran","authors":"Mehrdad Leylabi, Sara Malekan, Mehdi Majidpour","doi":"10.1108/imefm-11-2022-0437","DOIUrl":"https://doi.org/10.1108/imefm-11-2022-0437","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The aim of this paper is to explain that what main characteristics financial technologies should have so that lead to improve the transparency of institutions and whether the integrated monetary banking system deployed in free-interest institutions has affected the transparency of these institutions in terms of those characteristics or not? In this study, the integrated monetary banking system will be studied subject to implementation of the Shafagh project.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Based on the literature review and the experts' opinions, the principles of the research questions were explained. Then, according to the dimensions of the research conceptual model, questions related to research questions were considered as the item for analysis in the modeling of structural equations. In the next step, 278 employees and managers of interest-free institutions were selected, by simple random sampling method, to answer the questionnaire. Data collected is analyzed by using structural equations method.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results of the analysis indicates that the impact of the dimensions of strategic, technical, organizational and cultural factors – identified as the main characteristics of a financial system in this study – on the transparency of the transactions of the interest-free institutions is significant.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The results were obtained by focusing on the qualitative factors and also on the culture on free-interest institutions.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>By investigating the issues and factors that the developers, consultants and institutions’ managers need to address and also giving a conceptual model, this study assists managers and generally financial institutions in developing an integrated banking system in a way that will be more likely to improve transparency in those organizations.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study pioneers a comprehensive conceptual model, surpassing prior research that focused on isolated criteria. This novel approach enriches understanding of core banking systems' impact on financial transparency. This groundbreaking study uniquely focuses on free-interest institutions, traditionally presumed to be transparent but never before studied.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"12 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142203000","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Oil market volatility and foreign ownership: the case of Saudi Arabia 石油市场波动与外资所有权:沙特阿拉伯的案例
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-13 DOI: 10.1108/imefm-10-2023-0395
Abdulrahman Alhassan, Lakshmi Kalyanaraman, Hanan Mohammed Alhussayen

Purpose

This study aims to evaluate the resource curse hypothesis in an oil-dependent economy, Saudi Arabia, through examining the impact of oil price volatility on foreign ownership among Saudi listed firms.

Design/methodology/approach

The study analyzes a unique data set of firm-level data on foreign ownership for the period 2009–2015. A multivariate regression model was applied to analyze the relationships under study.

Findings

The analysis reveals a negative association between oil price volatility and foreign ownership in firms with high leverage and low stock volatility.

Research limitations/implications

Policymakers are encouraged to develop policies to control shocks in the supply and demand of oil and enforce economic diversification. Investors can better understand the dynamics of an oil-based economy stock market based on the investment behavior of foreign investors and their response to oil price shocks.

Originality/value

This study adds to the literature by analyzing the relationship understudy in an oil-rich and oil-dependent emerging economy, where its critical economic parameters are influenced by oil price volatility and it has the largest and the most liquid stock exchange in the MENA region.

目的本研究旨在通过考察石油价格波动对沙特上市公司中外资所有权的影响,评估沙特阿拉伯这一依赖石油的经济体中的资源诅咒假说。研究限制/意义鼓励政策制定者制定政策,控制石油供需的冲击,促进经济多样化。投资者可以根据外国投资者的投资行为及其对石油价格冲击的反应,更好地了解以石油为基础的经济体股票市场的动态。本研究通过分析一个石油资源丰富、依赖石油的新兴经济体的关系,为相关文献增添了新的内容,该经济体的关键经济参数受到石油价格波动的影响,并且拥有中东和北非地区规模最大、流动性最强的证券交易所。
{"title":"Oil market volatility and foreign ownership: the case of Saudi Arabia","authors":"Abdulrahman Alhassan, Lakshmi Kalyanaraman, Hanan Mohammed Alhussayen","doi":"10.1108/imefm-10-2023-0395","DOIUrl":"https://doi.org/10.1108/imefm-10-2023-0395","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to evaluate the resource curse hypothesis in an oil-dependent economy, Saudi Arabia, through examining the impact of oil price volatility on foreign ownership among Saudi listed firms.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The study analyzes a unique data set of firm-level data on foreign ownership for the period 2009–2015. A multivariate regression model was applied to analyze the relationships under study.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The analysis reveals a negative association between oil price volatility and foreign ownership in firms with high leverage and low stock volatility.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>Policymakers are encouraged to develop policies to control shocks in the supply and demand of oil and enforce economic diversification. Investors can better understand the dynamics of an oil-based economy stock market based on the investment behavior of foreign investors and their response to oil price shocks.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study adds to the literature by analyzing the relationship understudy in an oil-rich and oil-dependent emerging economy, where its critical economic parameters are influenced by oil price volatility and it has the largest and the most liquid stock exchange in the MENA region.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"37 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141934595","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of the CEO’s Islamic religiosity on tax aggressive behavior in family firms 首席执行官的伊斯兰宗教信仰对家族企业税务激进行为的影响
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-12 DOI: 10.1108/imefm-11-2023-0430
Luai Abu-Rajab, Tensie Steijvers, Maarten Corten, Nadine Lybaert, Malek Alsharairi

Purpose

The authors investigate the influence of CEOs’ Islamic religiosity on the level of tax aggressiveness within private family firms. In addition, this study aims to explore the moderating role of the CEO's ownership stake in the firm and the payment of Zakat.

Design/methodology/approach

The authors gathered data through surveys completed by 199 CEOs of Jordanian Islamic family firms. These survey results, along with financial statements, were used for multiple ordinary least squares regression analyses.

Findings

The results of this study reveal a negative relation between the extent of Islamic religiosity of the CEO and the level of tax aggressive behavior. Furthermore, the results suggest that an increase in the CEO’s ownership stake strengthens the negative association between the CEO’s religiosity and the extent of tax aggressive behavior. Finally, the CEO’s involvement in Zakat payments is shown to mitigate the negative association between the CEO’s religiosity and the extent of tax aggressive behavior.

Originality/value

In contrast to prior research that examines the relationship between religiosity and tax aggressiveness within the context of other religions, particularly Christianity, in listed firms, and primarily considers the religiosity of the overall firm environment, the study centers on the CEO’s religiosity in private Islamic family firms. The Islamic context further enables us to investigate whether the fulfillment of Zakat diminishes the moral obligation experienced by religious CEOs to fulfill their tax responsibilities.

目的 作者调查了首席执行官的伊斯兰宗教信仰对私营家族企业税收积极性的影响。此外,本研究还旨在探讨首席执行官在公司中的所有权股份和天课支付的调节作用。设计/方法/途径作者通过对 199 名约旦伊斯兰家族企业首席执行官的调查收集数据。研究结果研究结果表明,首席执行官的伊斯兰宗教信仰程度与税收激进行为水平之间存在负相关关系。此外,研究结果表明,首席执行官所持股份的增加会加强首席执行官的宗教信仰与税收激进行为程度之间的负相关关系。最后,首席执行官参与天课支付的情况表明,首席执行官的宗教信仰与税务激进行为程度之间的负相关关系得到了缓解。 原创性/价值以往的研究以其他宗教(尤其是基督教)为背景,研究上市公司中宗教信仰与税务激进行为之间的关系,主要考虑的是公司整体环境的宗教信仰,而本研究则侧重于私营伊斯兰家族企业中首席执行官的宗教信仰。伊斯兰背景使我们能够进一步研究履行天课是否会减少信教首席执行官履行纳税责任的道德义务。
{"title":"The impact of the CEO’s Islamic religiosity on tax aggressive behavior in family firms","authors":"Luai Abu-Rajab, Tensie Steijvers, Maarten Corten, Nadine Lybaert, Malek Alsharairi","doi":"10.1108/imefm-11-2023-0430","DOIUrl":"https://doi.org/10.1108/imefm-11-2023-0430","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The authors investigate the influence of CEOs’ Islamic religiosity on the level of tax aggressiveness within private family firms. In addition, this study aims to explore the moderating role of the CEO's ownership stake in the firm and the payment of Zakat.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The authors gathered data through surveys completed by 199 CEOs of Jordanian Islamic family firms. These survey results, along with financial statements, were used for multiple ordinary least squares regression analyses.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results of this study reveal a negative relation between the extent of Islamic religiosity of the CEO and the level of tax aggressive behavior. Furthermore, the results suggest that an increase in the CEO’s ownership stake strengthens the negative association between the CEO’s religiosity and the extent of tax aggressive behavior. Finally, the CEO’s involvement in Zakat payments is shown to mitigate the negative association between the CEO’s religiosity and the extent of tax aggressive behavior.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>In contrast to prior research that examines the relationship between religiosity and tax aggressiveness within the context of other religions, particularly Christianity, in listed firms, and primarily considers the religiosity of the overall firm environment, the study centers on the CEO’s religiosity in private Islamic family firms. The Islamic context further enables us to investigate whether the fulfillment of Zakat diminishes the moral obligation experienced by religious CEOs to fulfill their tax responsibilities.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"14 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141934597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Interconnectedness between Islamic and conventional banks: a multilayer network view 伊斯兰银行与传统银行之间的相互联系:多层网络视角
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-07 DOI: 10.1108/imefm-04-2024-0209
Federica Miglietta, Matteo Foglia, Gang-Jin Wang

Purpose

This study aims to examine information (stock return, volatility and extreme risk) spillovers and interconnectedness within dual-banking systems.

Design/methodology/approach

Using multilayer information spillover networks, this paper conduct a deep analysis of contagion dynamics among 24 Islamic and 46 conventional banks from 2006 to 2022.

Findings

The findings show the network’s rapid response to financial shocks. Through cross-sector analysis, this paper identify information spillovers between and within Islamic and conventional banking systems. Furthermore, this research illustrates distinct roles played by Islamic and conventional banks within the multilayer network structure, contingent upon the nature of the financial shock.

Practical implications

Understanding the differential roles of Islamic and conventional banks in information transmission can aid policymakers and financial institutions in devising more effective risk management strategies, thereby enhancing financial stability within dual-banking systems.

Originality/value

This study contributes to the literature by emphasizing the necessity of examining contagion mechanisms beyond traditional single-layer network structures, shedding light on the shadow dynamics of information transmission in dual-banking systems.

本文利用多层信息溢出网络,对 2006 年至 2022 年期间 24 家伊斯兰银行和 46 家传统银行之间的传染动态进行了深入分析。研究结果研究结果表明,该网络对金融冲击做出了快速反应。通过跨部门分析,本文确定了伊斯兰银行系统和传统银行系统之间和内部的信息溢出效应。此外,本研究还说明了伊斯兰银行和传统银行在多层网络结构中所扮演的不同角色,这取决于金融冲击的性质。本研究强调了研究传统单层网络结构之外的传染机制的必要性,揭示了双重银行体系中信息传递的影子动态,从而为相关文献做出了贡献。
{"title":"Interconnectedness between Islamic and conventional banks: a multilayer network view","authors":"Federica Miglietta, Matteo Foglia, Gang-Jin Wang","doi":"10.1108/imefm-04-2024-0209","DOIUrl":"https://doi.org/10.1108/imefm-04-2024-0209","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine information (stock return, volatility and extreme risk) spillovers and interconnectedness within dual-banking systems.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Using multilayer information spillover networks, this paper conduct a deep analysis of contagion dynamics among 24 Islamic and 46 conventional banks from 2006 to 2022.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings show the network’s rapid response to financial shocks. Through cross-sector analysis, this paper identify information spillovers between and within Islamic and conventional banking systems. Furthermore, this research illustrates distinct roles played by Islamic and conventional banks within the multilayer network structure, contingent upon the nature of the financial shock.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Understanding the differential roles of Islamic and conventional banks in information transmission can aid policymakers and financial institutions in devising more effective risk management strategies, thereby enhancing financial stability within dual-banking systems.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study contributes to the literature by emphasizing the necessity of examining contagion mechanisms beyond traditional single-layer network structures, shedding light on the shadow dynamics of information transmission in dual-banking systems.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"21 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141934766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of Basel III regulations on solvency and credit risk-taking behavior of Islamic banks 巴塞尔协议 III》对伊斯兰银行偿付能力和信贷风险承担行为的影响
IF 3 3区 经济学 Q2 BUSINESS, FINANCE Pub Date : 2024-08-07 DOI: 10.1108/imefm-05-2024-0248
Khadija Ichrak Addou, Zakaria Boulanouar, Zaheer Anwer, Afaf Bensghir, Shamsher Mohamad Ramadilli Mohammad

Purpose

This study aims to examine the simultaneous effect of variations in the Capital Adequacy Ratio and Credit Risk of Islamic banks of the Gulf Cooperation Council under the influence of the Basel III regulations using an innovative approach.

Design/methodology/approach

This approach highlights the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021.

Findings

The findings highlight the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021.

Originality/value

The insights from findings help define effective strategies to manage and mitigate Credit Risk while strengthening solvency under Basel III prudential supervision. Policymakers, regulatory authorities and banking institutions can optimize the management of Credit Risk and create a robust and stable financial environment for Islamic banks.

本研究旨在采用创新方法,研究海湾合作委员会伊斯兰银行在《巴塞尔协议 III》法规影响下资本充足率和信用风险变化的同步影响。本方法通过研究资本充足率和信用风险之间的复杂动态及其在监管限制下的相互作用,强调了《巴塞尔协议 III》改革对维护海湾合作委员会乃至全球区域和国际金融部门稳定的极端重要性。研究结果通过研究资本充足率和信用风险之间的复杂动态及其在监管约束下的相互作用,强调了巴塞尔协议 III 改革在维护海湾合作委员会乃至全球地区和国际金融业稳定方面的极端重要性。对 26 家伊斯兰银行 2013-2021 年期间的年度报告和财务业绩进行了分析。原创性/价值研究结果有助于确定有效的战略,以管理和降低信用风险,同时加强巴塞尔协议三审慎监管下的偿付能力。政策制定者、监管机构和银行机构可以优化信用风险管理,为伊斯兰银行创造一个稳健的金融环境。
{"title":"The impact of Basel III regulations on solvency and credit risk-taking behavior of Islamic banks","authors":"Khadija Ichrak Addou, Zakaria Boulanouar, Zaheer Anwer, Afaf Bensghir, Shamsher Mohamad Ramadilli Mohammad","doi":"10.1108/imefm-05-2024-0248","DOIUrl":"https://doi.org/10.1108/imefm-05-2024-0248","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study aims to examine the simultaneous effect of variations in the Capital Adequacy Ratio and Credit Risk of Islamic banks of the Gulf Cooperation Council under the influence of the Basel III regulations using an innovative approach.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>This approach highlights the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings highlight the critical importance of the Basel III reform in preserving the stability of the regional and international financial sector in the Gulf Cooperation Council and globally by examining the complex dynamics between Capital Adequacy Ratio and Credit Risk and their interaction under regulatory constraints. The annual reports and financial performance of 26 Islamic banks were analyzed over the period 2013–2021.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The insights from findings help define effective strategies to manage and mitigate Credit Risk while strengthening solvency under Basel III prudential supervision. Policymakers, regulatory authorities and banking institutions can optimize the management of Credit Risk and create a robust and stable financial environment for Islamic banks.</p><!--/ Abstract__block -->","PeriodicalId":47091,"journal":{"name":"International Journal of Islamic and Middle Eastern Finance and Management","volume":"26 1","pages":""},"PeriodicalIF":3.0,"publicationDate":"2024-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141934596","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
期刊
International Journal of Islamic and Middle Eastern Finance and Management
全部 Acc. Chem. Res. ACS Applied Bio Materials ACS Appl. Electron. Mater. ACS Appl. Energy Mater. ACS Appl. Mater. Interfaces ACS Appl. Nano Mater. ACS Appl. Polym. Mater. ACS BIOMATER-SCI ENG ACS Catal. ACS Cent. Sci. ACS Chem. Biol. ACS Chemical Health & Safety ACS Chem. Neurosci. ACS Comb. Sci. ACS Earth Space Chem. ACS Energy Lett. ACS Infect. Dis. ACS Macro Lett. ACS Mater. Lett. ACS Med. Chem. Lett. ACS Nano ACS Omega ACS Photonics ACS Sens. ACS Sustainable Chem. Eng. ACS Synth. Biol. Anal. Chem. BIOCHEMISTRY-US Bioconjugate Chem. BIOMACROMOLECULES Chem. Res. Toxicol. Chem. Rev. Chem. Mater. CRYST GROWTH DES ENERG FUEL Environ. Sci. Technol. Environ. Sci. Technol. Lett. Eur. J. Inorg. Chem. IND ENG CHEM RES Inorg. Chem. J. Agric. Food. Chem. J. Chem. Eng. Data J. Chem. Educ. J. Chem. Inf. Model. J. Chem. Theory Comput. J. Med. Chem. J. Nat. Prod. J PROTEOME RES J. Am. Chem. Soc. LANGMUIR MACROMOLECULES Mol. Pharmaceutics Nano Lett. Org. Lett. ORG PROCESS RES DEV ORGANOMETALLICS J. Org. Chem. J. Phys. Chem. J. Phys. Chem. A J. Phys. Chem. B J. Phys. Chem. C J. Phys. Chem. Lett. Analyst Anal. Methods Biomater. Sci. Catal. Sci. Technol. Chem. Commun. Chem. Soc. Rev. CHEM EDUC RES PRACT CRYSTENGCOMM Dalton Trans. Energy Environ. Sci. ENVIRON SCI-NANO ENVIRON SCI-PROC IMP ENVIRON SCI-WAT RES Faraday Discuss. Food Funct. Green Chem. Inorg. Chem. Front. Integr. Biol. J. Anal. At. Spectrom. J. Mater. Chem. A J. Mater. Chem. B J. Mater. Chem. C Lab Chip Mater. Chem. Front. Mater. Horiz. MEDCHEMCOMM Metallomics Mol. Biosyst. Mol. Syst. Des. Eng. Nanoscale Nanoscale Horiz. Nat. Prod. Rep. New J. Chem. Org. Biomol. Chem. Org. Chem. Front. PHOTOCH PHOTOBIO SCI PCCP Polym. Chem.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1